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| Las Vegas gamblers lost $1.3 billion in a year playing this casino game you've never heard of | |
| (35 minutes later) | |
| Poker might be the game that springs to mind when someone mentions by Las Vegas. But another game has outstripped poker’s profitability in casinos on the strip – relieving gamblers of $1.38 billion in the last 12 months. | |
| That game is baccarat, a gambling craze played in VIP rooms hidden from the general public. | That game is baccarat, a gambling craze played in VIP rooms hidden from the general public. |
| For a fairly unknown game, the losses are big. The $1.38 billion lost on baccarat tables on the Las Vegas strip easily beats $831 million misplaced on blackjack and $258 million misplaced on craps. | |
| Popular with Asian gamblers, it was recently hit by a crackdown on corruption in China’s slowdown. As Chinese wealthy players shied away from casino hubs, Las Vegas Strip revenue for July fell 2 per cent, according to the Nevada Gaming Control Board. Baccarat particularly suffered from a 21 per cent drop in revenue. | Popular with Asian gamblers, it was recently hit by a crackdown on corruption in China’s slowdown. As Chinese wealthy players shied away from casino hubs, Las Vegas Strip revenue for July fell 2 per cent, according to the Nevada Gaming Control Board. Baccarat particularly suffered from a 21 per cent drop in revenue. |
| Baccarat is a pure game of chance with no skills required. There are just two principal bets to make: banker or player - Banco or Punto, plus the rarely used Standoff. The card dealer gives two cards each; first to the player and then the banker. The object of the game is to bet on the hand that you think will have the highest total value. | Baccarat is a pure game of chance with no skills required. There are just two principal bets to make: banker or player - Banco or Punto, plus the rarely used Standoff. The card dealer gives two cards each; first to the player and then the banker. The object of the game is to bet on the hand that you think will have the highest total value. |
| With iconic casinos ready to take bets a high as $250,000, the wins can be as big as the losses. However, if the players stop betting and turn away from tables, it makes casinos susceptible to a big loss in revenues. In the past twelve months, baccarat play in Las Vegas is down 23 per cent and mini-baccarat (lower stakes) has fallen 34 per cent. | With iconic casinos ready to take bets a high as $250,000, the wins can be as big as the losses. However, if the players stop betting and turn away from tables, it makes casinos susceptible to a big loss in revenues. In the past twelve months, baccarat play in Las Vegas is down 23 per cent and mini-baccarat (lower stakes) has fallen 34 per cent. |