Friday, February 08, 2019

Casino Robberies and Assaults continue to rise...are they a bigger problem for casinos than Cheating and Advantage Play?

Casino Robberies on the rise
Of course the answer to this question has to be yes, since we are talking about a customer-service oriented business, where those customers must be protected from both the bodily physical and mental harm that these robbery and assault victims can suffer, not to mention the post traumatic stress and related syndromes that follow and can last as long as the victims' lives.

And let's not forget the casino employees who are victims during cage or poker-room robberies as well. They can also suffer the same mental and physical injuries as the casino customers who are robbed and assaulted.

Of course casino cheating is also a huge problem for casinos as is advantage play, but which actually causes casinos more financial harm...

Cheating and advantage play vs assault and robberies?

Impossible for me to say because there are so many variables to consider. Casinos can lose millions of dollars from one attack or robbery, not only money stolen but from subsequent lawsuits surely to follow. Now, of course, the actual money from robberies and legal judgements against casinos will likely be covered by casinos' insurance, but then you have to add in the cost of that insurance.

Cheating incidents such as the Phil Ivey/Kelly Sun baccarat edge-sorting scam and high-tech slot jackpot scams can also cost the casinos millions in one shot. And some casinos do actually have "casino-cheating insurance," so again actual costs and losses associated with cheating and advantage play are quite difficult to assign.

In both cases, losses by violence and losses by table and slot games, the problem for casinos is huge!