Best Baccarat Tables In Vegas – Floor supervisor Sam Inceme, right, watches baccarat dealer Ramiro Nepomuceno, right, wash his hands at the MGM Resorts Casino in Las Vegas, Wednesday, Jan. 25, 2012. Card. Chinese New Year typically sees more Asian gamblers in Vegas, which means increased traffic at high-limit baccarat tables. Although baccarat is not widely known, it is actually the most profitable table game for casinos that try to attract Asian gamblers who associate luck and good fortune with the beginning of the lunar calendar. (AP Photo/Julie Jacobson)
LAS VEGAS (AP) — A half-dozen high rollers sat on a private baccarat table at the MGM Grand in Las Vegas one day, just days before Lunar New Year celebrations kicked off this week. At the table, start betting between $100,000 and $200,000 per hand. It’s hard to see scenes like this in Sin City these days.
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Big gamblers, mainly from Asia, flock to Las Vegas to play baccarat, boosting overall profits at the city’s casinos.
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Baccarat easily surpasses blackjack in terms of casino revenue in Las Vegas and now accounts for nearly 60 percent of MGM’s table game revenue last year. This week it is especially popular with thousands of tourists from Asia celebrating Chinese New Year.
“Today, it’s almost impossible for us to make money gambling without baccarat,” said Debra Nutton, senior vice president of casino operations at MGM Grand. “We need big whales to make money.”
In Las Vegas parlance, a “whale” is a big-time gambler who bets more at the gaming tables in one night than most American households do in a year. Casinos offer them luxurious, secluded gambling salons within top-tier casinos — with baccarat games typically starting at at least $10,000 per hand.
Whales often enjoy baccarat – a game romanticized in James Bond movies and popular in Macau and Singapore.
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The game is based on a simple premise: who will end up with the better hand, the player or the banker? Gamblers are dealt two cards and predict whether they will beat the dealer, whose position usually rotates among the players at the table. Known as “medium baccarat,” small tables starting at $100 look like large blackjack tables, omitting the dealer’s movement and leaving that role to the dealer. Small limit tables are also known as mini baccarat.
Nevada statistics show casinos across the state won $1.27 billion from baccarat players in the 12 months ended Nov. 30, with 24 casinos offering the game at a total of 258 tables. Blackjack, meanwhile, brought in just $1.03 billion — even though it was available at 2,810 tables in 151 casinos.
While casinos hope to pocket 12 percent of baccarat bets, the sheer size of low stakes means revenue can fluctuate significantly from quarter to quarter, depending on the gambler’s luck.
With nearly 165,000 machines in 330 locations, including supermarkets, gas stations and airports, Nevada remains the most popular and profitable form of gambling.
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An analysis of gambling revenue by Dave Schwartz, director of the Gambling Research Center at the University of Nevada, Las Vegas, shows that baccarat has been the most profitable table game since 2009 and its share has been growing ever since. Long.
As Americans struggle during the Great Recession, Las Vegas casinos have been trying to boost tourism from wealthy international visitors, especially those from Asia. The casino stated that their game of choice was Baccarat.
The MGM Grand is one of many casinos on the Las Vegas Strip where high rollers are in town this weekend for the Chinese New Year. Nutton said his casino may double the number of baccarat tables during the Lunar New Year period, but it will still be busy.
Nutton said that in addition to private flights and luxury accommodations, casinos around Las Vegas attract year-round baccarat play through high-roller tournaments that offer million-dollar prize pools.
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The three-day tournament, held in early October at the MGM Grand Hotel and Casino, has an entry fee of $5,000, with the winner receiving $750,000 and seven other players receiving at least $10,000, with all participants A new tablet will be provided and a prize will be drawn for the finalists. Fits 2012 BMW Convertible.
Nutton said similar tournaments are held several times a year in Sin City, with the hope that contestants will also play on their own and return to each particular casino.
Wynn Resorts Ltd. and Las Vegas Sands Corp., which each operate two casinos on the Las Vegas Strip, derive most of their revenue from Asia, where baccarat is the undisputed king of the game.
Caesars Entertainment Corp., which owns or operates 52 casinos in 12 U.S. states and seven countries, reported baccarat revenue of $6.66 billion in the first nine months of 2011. Meanwhile, baccarat-focused Sands, which owns four casino resorts in Asia and three in the United States, beat it with $6.87 billion.
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Nutton said casinos are fiercely competing for the relatively small number of players who can afford five- to six-figure bets.
Schwartz said if casinos become more reliant on baccarat for their bottom line, they could face unpredictable outcomes. From 2004 to 2010, baccarat had the largest change in its share of casino games held (the amount of stakes held by the casino).
Holding is often controlled by complex mathematics, so the gambler gradually loses money while the banker always wins overall.
Between 2004 and 2010, the average baccarat hold rate was 11.7 percent, but monthly hold rates at casinos across the state ranged from as high as 19.5 percent to as low as 3.6 percent.
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If a player gets lucky one day and wins a few million dollars quickly, the casino will remember that when it reports quarterly results, Schwartz said.
“More business-oriented people don’t like this volatility in companies,” he said. “It’s very profitable, but it’s also very dangerous.”
Santo Gaming chief marketing officer Steve Rosen operates the Plaza Las Vegas casino in downtown Las Vegas. . is to attract Asian customers.
“I think a lot of casinos are trying, they just don’t understand how to do it yet. You’re going to see more and more baccarat, you’re going to see baccarat becoming more mainstream,” Rosen said. “There’s no way 91% of global revenue comes from one game, and people here don’t care.”
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Tim Fang, co-director of the Gambling Studies Program at UCLA, said many cultural factors among Asians combine to encourage gambling, especially during the holidays.
Fang said that generations of Chinese citizens, for example, have socially accepted gambling and placed a high value on the concepts of luck and predetermined fate. Before China’s economic liberalization, many people lived as farmers or ranchers and looked forward to the New Year because it was the only time they could truly take a break from work.
“It’s more driven by (the idea) that things are predetermined. It’s kind of like, well, this is almost our chance to test our destiny, our chance to test our luck next year,” Fong said. . “If you win well and you win a lot of value … you’re going to have a good year.
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In Evolution Gaming’s Live Baccarat, the magic unfolds through six or eight decks, each containing 52 cards.
The game has a unique ritual that involves cutting a card, strategically placing it before the seventh-to-last card. This cut card is a foreshadowing that will mark the final sale of the shoe.
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