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The overall blackjack payout has slowly declined at many Las Vegas properties. The trade-off is that minimum bets have also decreased. Over the past few months, over 24 tables at Harrah’s Casino properties have begun paying out 6 to 5 for blackjack games at various limits. The previous payout standard was 3 to 2.

Payout Example

When running the numbers, the difference is minimal in the short term, but over a long playing period can be quite significant. For instance, the conventional payoff on a wager of $10 will win $15. With the new pay structure, the player only wins $12 on a $10 bet.

Payout Origination

The idea behind the new payout originated from party pits approximately 10 years ago. These are areas of a nightclub or bar in which the table games (such as blackjack) are dealt by attractive women. Since gambling isn’t the main attraction, the payout is 6 to 5. This structure seems to have made its way onto the mainstream gambling floor at various casinos. The idea was for casino managers to increase profits from low stake games.

Blackjack Players Reaction

It is estimated that nearly 25 percent of the casinos on the Las Vegas strip are offering blackjack games with the 6 to 5 payout arrangement. Blackjack gurus have always criticized this payout differential, stating that it’s simply a way to swindle unsuspecting tourists that aren’t familiar with the different payouts. Many believe once tourists realize the difference, this will hurt the casinos further economically.

The Numbers

According to the Gaming Control Board during the past 12 months, wagers on blackjack on the strip were $1 billion less. On the other hand, blackjack is currently less profitable than it was twenty years ago. Presently strip casinos keep 10 to 11 percent of profits compared to the 13 to 14 percent just a decade ago.

An Explanation

Although the economy is playing a large factor in the decline, a complimentary explanation is that Vegas is becoming a destination that offers more than just gambling. Consequently, gamblers are distracted by other attractions such as nightclubs and pool parties, all of which cost money.

In the past, casinos have managed to remain profitable even with cheap inexpensive food and rooms, better odds and better comps. Perhaps they need to return to the Vegas of old where the deals draw the customer in to gamble. Since customers are cutting back, the idea of cheap food, rooms and better comps may entice them to gamble more and increase profits for the casinos.