Casino Whale Definition
Casino Risk Rewards
Although few in number, whales contribute significantly to a casino's revenues, since many of them have the potential to bet as much as $1 billion annually, industry experts say. The gamblers like.
When it comes to rewards for your overall play in a casino, the odds are highly in your favour. Casinos reward players on the total amount they bet during a gambling session.
Whales can also be divided into subcategories. In December, DeltaDNA released a study on how gender impacts gameplay and found that on average, women spend 44 percent more on than men on mobile games, specifically puzzle and casino games, suggesting that women are more invested in the platform. Casino Whale: What Does it Mean to Be a Whale in Gambling? In casino terms, whale gambling is identical to high roller gambling. As with high rollers, there's no fixed definition of what's a gambling whale but only surrounding supposition and terminology. You become a gambling whale by consistently betting high, for a course of months/years. In poker, a 'whale' is a wealthy person who is not a very strong player. It is the dream of every poker player to have a 'whale' sit down at their table, as this means that there is a very good opportunity for the strong players at the table to win some serious money. Lose all the money player bought while entering in the casino and have to quit. Third Street: The 1st round of 7 card stud as the player have only 3 cards to play. Three of a Kind: In Poker, 3 cards of equivalent rank. Time Cut: Money charged from the players on a 3 minute or an hourly basis by the casino.
Getting a comp from a casino is based on the opportunity you are giving the establishment to win money from you and not how much you lose. Casinos reward those who take high risks. With the hard restrictions being enforced from UKGC, many casinos not on Gamstop offer more favourable treats for high rollers.
High Roller Definition
The term ‘high roller’ may evoke many different kinds of mental images, especially for those who are unfamiliar with it. In the casino environment, the term ‘high roller’ refers to an individual who enables the establishment an opportunity to win a large amount of money in a short time. These people place bets that range from $10,000 to $1,000,000 each time.
High rollers are often referred to as ‘whales,’ because of their significant and immediate ability to impact the casino’s profit in a brief period of time. High rollers vary by culture, country and casino.
While this definition changes by location, they all share general characteristics that allow for casinos, gamblers, and tourists to easily recognise them. High rollers come from a variety of backgrounds.
High Roller Impact
Billionaire arms dealer and high roller, Adnan Khasoggi’s winning streak at one time, was the cause of a considerable 19 percent drop in quarterly profits of Hilton International.
This should convey the magnitude of the influence a whale can potentially have on the bottom line of a casino. Their definition may be location-based, however, there are potentially thousands of whales located across the world.
The money made from mid or low-level gamblers usually keeps the casino lights on. When a high roller visits the premises he affords the casino an opportunity to make or lose exorbitant amounts of money.
High rollers receive rewards from casinos that are grander than those available to average players since the amount of their bets averages hundreds of thousands more than others.
Traits of a High Roller
Billionaires or millionaires are typically whales. They can access instant casino credit that may be up to $25 million. Regardless of whether they win or lose, whales are known as extremely generous tippers.
They don’t travel alone but are surrounded by close confidantes, family and bodyguards who are often present when they play. They don’t want to be in the spotlight during their casino visit.
Casino treatment of high rollers reflects that they are VIP guests. Whales receive special and exclusively reserved perks for those who place high dollar bets since the casino has a chance to win big money from them.
They tend to have a very serious attitude when gambling and placing bets as high as $1million. They are not in the habit of making costly and careless mistakes.
Benefits of a High Roller
To determine the perks a high roller is entitled to, the casino will use a ‘theoretical’ formula. This takes into consideration the individual’s skill level, the time they spend playing, average number of hands participated in each hour and the wager of each hand. While a lot of factors are considered for the high rollers amenities, it is made simpler for others.
A designated host takes care of the high rollers. They ensure the whale’s needs are satisfied at all times. Hosts make all their arrangements and provide benefits for high rollers that may be unconventional and conventional.
Gambling Whale Definition
These are determined by the personal preferences of the whale and several other contributing factors. Hosts establish lasting relationships and ensure high rollers get the most out of their stay.
VIP Treatment
High rollers get the red carpet treatment whenever they visit casinos. They earn rewards while they play and dedicated hosts are always there to exceed their expectations.
They make sure whales will not forget the luxury and treatment they receive at their premises. Hosts do everything to ensure the best casino experience possible, in the hope the whale will return again soon to play another round.
A high roller, also referred to as a whale or cheetah , is a gambler who consistently wagers large amounts of money. High rollers often receive lavish 'comps' from casinos to lure them onto the gambling floors, such as free private jet transfers, limousine use and use of the casinos' best suites. Casinos may also extend credit to a player to continue betting,[1] offer rebates on betting turnover or losses,[2] and salaries of employees may also contain incentive arrangements to bring in high rollers.[3]
The definition of a high roller varies. At Crown Casino in Australia, for example, it involves bringing between AUD$50,000 and $75,000 to the table.[4] High roller players often have very high table limits allowing the high roller exclusive use. Casinos compete on bet limits. In Australia limits of AUD$300,000 are common, in Las Vegas they are between US$150,000 and $300,000, and in Macau they are up to US$500,000. Only casinos with 'substantial financial firepower' can accommodate high-stakes gambling due to the volatility of results.[2]
High rollers may also be subject to exceptions from various rules and regulations; for example the high roller rooms at Crown Casino in Melbourne, Australia are the only licensed venue in the state not subject to a ban on smoking.[5]
Casino Whales Definition
High rollers are said to provide only a small fraction of casino business. John Eidsmoe, in his book Legalized Gambling: America's Bad Bet, claims that it is actually gamblers from the lower and lower-middle classes in the United States that provide much of the gambling money. 'The occasional wealthy 'high roller' does indeed exist, but he is the exception, not the standard. The fact that more than 50% of Nevada's gambling income comes from slot machines as opposed to the card tables should be an indication high rollers are not the main source of revenue.'[6]
One example of a high roller is an Australian man who turned over more than AUD$1.5 billion in a 14-month period from 2005, becoming 'one of Crown's largest Australian players but not in the same league as [its] top international players'.[3] There have been many cases around the world where high rollers have committed fraud to provide funds for gambling beyond their means, after becoming seduced by the lifestyle.[1][7][8] This was the case with famed gambler Terrance Watanabe who reputedly lost over $220M in Las Vegas over a 5-year period, and was ultimately sued by Caesars Entertainment for failing to pay up on markers he took out during the binge totaling $14.75M.[9]
While high rollers may not provide a significant portion of the revenues in the casino industry as a whole, they can have a major effect on the net income of casinos that cater to them. There are significant costs associated with attracting the highest-stakes gamblers, so if a casino takes this risk and the high roller wins, the casino's expenses can be extremely large. Likewise, if the casino's investment pays off and the high roller loses, the casino's gain can far exceed its expenses for the high roller's visit.
Related to high rollers are low rollers. These are people who do not wager large amounts of money, but are nonetheless knowledgeable about gambling and enthusiastically participate in casino programs such as comps and loyalty programs. 'Low roller' may also refer to average casino patrons who are not high rollers.
References[edit]
- ^ abRichard C. Paddock (February 15, 2009). 'Debt finally topples a Las Vegas high roller'. Los Angeles Times. articles.latimes.com.
- ^ abKate Hagan (June 4, 2009). 'Crown defends high-roller enticements'. The Age. theage.com.au.
- ^ abMichael Warner (June 5, 2009). 'Court told of concealed gambling by Crown Casino'. Herald Sun. www.news.com.au. Archived from the original on June 7, 2009.
- ^Muriel Reddy (October 5, 2003). 'Betting $330,000 on the turn of a card - National - www.theage.com.au'. The Age. www.theage.com.au.
- ^Michael Warner (May 16, 2009). 'Second high-roller deal for Crown casino'. Herald Sun. www.news.com.au. Retrieved November 1, 2012.
- ^Eidsmoe, John Legalized Gambling; America's Bad Bet, 1994
- ^Anson Cameron (June 7, 2009). 'High-stakes gamblers and the luck delusion'. The Age. theage.com.au.
- ^Chee Chee Leung (August 28, 2004). 'Casino glamor seduced lonely man into $1m fraud'. The Age. theage.com.au.
- ^Vegas Guy (May 15, 2015). 'Casino whale stories and profiles of biggest high rollers'. Vegas Guy. www.vegasguy.com. Retrieved April 22, 2016.
External links[edit]
- The dictionary definition of high roller at Wiktionary