It may surprise you to learn that Las Vegas Strip Casinos make around 34% of their income from gambling, and all indicators are that in the years to come, unless something is done, that figure is likely to get even lower.
The remainder of their income comes from their hotels, food and beverage and retail outlets too along with all of the added extra that they now lump onto their visitors bills such as the much hated resort fees and even car parking fees some casinos have now started to force their customers to pay!
However, it would appear that casinos up and down the Las Vegas Strip are now looking at sports betting as the saviour of their gambling incomes, and many new and completely remodelled sportsbooks are opening up.
But is does have to be said that there have never been the number of sports bettor sin places such as Las Vegas as there are gamblers who play slot machine, card and tables games or even video poker players, so it is going to be a wait and see approach as to whether those newly opened and remodelled sportsbooks are going to produce the incomes some casino operators are pinning their hopes on!
Supreme Courts Approves Sports Betting
There is however something else that is going to have a very direct effect on the profitability of many Las Vegas based sportsbooks, and that is the Supreme Court has given the green light to sportsbooks opening up in many US States.
That does of course mean gamblers who do fancy placing a sport bet of any type and not going to want to travel all the way to Vegas to be able to legally do so as they will have a much easier task by simply visiting one of the newly opened sportsbooks in their State!
Sportsbooks Have Often Been Loss Leaders in Las Vegas
It has often been the case that many casinos in places such as Las Vegas run their sportsbook as loss leaders, the idea being that any high rollers who were gambling on other things inside a casino would be able to place a bet at a casinos in-house sportsbook rather than take their business elsewhere.
In fact, having been to Vegas more times that I can care to remember one thing that has always struck me is just how quiet the sportsbooks over there can be.