{"id":4493,"date":"2022-05-09T16:58:48","date_gmt":"2022-05-09T23:58:48","guid":{"rendered":"https:\/\/vegasadvantage.com\/?p=4493"},"modified":"2023-08-05T15:34:58","modified_gmt":"2023-08-05T22:34:58","slug":"how-las-vegas-casinos-quietly-raise-prices-on-games","status":"publish","type":"post","link":"https:\/\/vegasadvantage.com\/how-las-vegas-casinos-quietly-raise-prices-on-games\/","title":{"rendered":"How Las Vegas Casinos Quietly Raise Prices on Games"},"content":{"rendered":"\n

It is no secret that inflation is as high as it has been in decades. All businesses are affected by increases in labor and other costs. Las Vegas casinos are no different.<\/p>\n\n\n\n

Some Las Vegas casinos have raised minimum bets on games to offset inflation. This is easy to see with the substantial decrease in $5 table games in the past couple of years and the almost complete disappearance of limits lower than that. However, many casinos are taking a different approach.<\/p>\n\n\n\n

Shrinkflation<\/a> is when a business keeps the price the same but offers the consumer a smaller or lower quality product to offset the increased costs of doing business. This disguises the inflation, making it harder for the buyer to see. <\/p>\n\n\n\n

For example, I noticed that Gatorade bottles are now 28 ounces. These were 32 ounces a few months ago. Stores kept the price the same. However, the consumer is getting 12.5% less Gatorade. Casinos are doing something like this but on a much larger scale.<\/p>\n\n\n\n

Recent video poker examples<\/h2>\n\n\n\n

The latest gambling news from downtown Las Vegas<\/a> is that Four Queens no longer has the best bar video poker. The 10\/6 (full house\/flush) Double Double Bonus at the $0.50 and $1 denominations is now 9\/5. The $0.25 game went from 9\/6 to 8\/5. <\/p>\n\n\n\n

The theoretical house hold of the 10\/6 game was 0.04%. It is now 2.13%. That is a 5225% increase in the house edge<\/strong> when comparing the old game to the new one. This means that a player will lose over 50 times faster on average on the 9\/5 game than when it was 10\/6. <\/p>\n\n\n\n

The $0.25 9\/6 Double Double Bonus game had a theoretical hold of 1.02%. It is now 3.21% with an 8\/5 pay table. That is a 215% increase in house edge<\/strong>. A player will lose more than three times faster on this 8\/5 game than on the old 9\/6 pay table. <\/p>\n\n\n\n

The Main Street Station reopening<\/a> is another example of video poker house edge increasing substantially. The Boar’s Head Bar reopened with 9\/6 Jacks or Better, only to downgrade it a week later to 9\/5, and only on a few machines. That is an increase in theoretical house hold from 0.46% to 1.67%. The inflation rate there is 263%<\/strong>. <\/p>\n\n\n\n

Hidden inflation happens at table games, too<\/h3>\n\n\n\n

Table game minimum bets are up at most casinos since 2019. This is largely due to the pandemic increasing costs and creating a labor shortage. During times of inflation, it seems reasonable that a casino may need to raise its prices, or in this case, table game minimum bets. <\/p>\n\n\n\n

Here are some examples of how the house edge goes up on games when the minimum bet increases. This assumes that all players are betting the minimum and playing perfect strategy. It is unlikely that the tables are operating that way, so the expected results for the casino and math are not the same number, but it demonstrates the price increase for low limit players.<\/p>\n\n\n\n

Table game inflation rate by increasing minimum bet<\/h4>\n\n\n\n