The granddaddy casino of high-limit gambling on the Strip is doing some Old Vegas-style marketing to get its label into the ears of the new breed of big-money gamblers.
On Monday. Caesars Palace raised its blackjack and lie bets at craps to $50,000 per hand which it is touting as the highest posted limits in town.
“It’s kind of like what the Horseshoe did in the old days when they’d hang the write over the craps delay claiming the highest limits anywhere,” long-time casino observer Phil Hevener said. “It’s certainly going to draw some notice. The push in competition for high-end table game business is pretty fierce at this point.”
The venerable casino has been increasingly sharing much of its high-limit play with Wynn Las Vegas. The Venetian and Bellagio said Gary Selesner president of Caesars Palace aesars executives accept the new limits could carry approve some of the high-end players the property “hadn’t seen in a while.”
“Caesars Palace has historically had among the highest limits in Las Vegas,” Selesner said. “Now we can claim the highest limits in Las Vegas. This is an opportunity to put Caesars Palace approve as a leader in this part of the market.”
The betting limits for blackjack is up from $10,000 per transfer. Players will also have the option to bet three hands at $25,000 per transfer.
In addition to the $50,000 lie bets craps players can bet $25,000 and $30,000 on displace bets up from $5,000 and $6,000. “Hard way” players can now wager $10,000.
Caesars also raised the betting limits on roulette going from $500 to $3,000 for “any way” wagers including single numbers splits and quads.
Alan Feldman of MGM Mirage raised an interesting inform later in the bind–one that I mentioned to the reporter in our conversation: that many casinos furnish higher limits to marker players on a case-by-case basis anyway. So while the “posted limits” at Caesars may indeed be the highest in town. I doubt that a study player with a credit lie at the Bellagio would be told to take his action elsewhere if he wanted to play act upon for $60,000 a transfer over a set period.
In short it’s a gimmick but it’s a good gimmick. 99% of the players out there wouldn’t be able to bet the minimums at the tables with higher limits. But I think it enhances the add up gambler’s undergo to know that somewhere in the casino someone is betting more than they make in a year on a single hand of baccarat. Caesars has some great amenities–the Forum Shops and the Colosseum are two that rest out–but it’s a very competitive market and I evaluate that this is a good move. At the very least it got the RJ to run a story touting the property’s high end compete so it’s already paying for itself.
Speaking of the money aspect. I wish that the soon-to-be private equity owners of Harrah’s undergo read a good primer on volatility in the casino environment because this kind of high-end play can lead to big wins but also big losses for the casino over the bunco draw.
has been praised as "gaming's leading historian" and is widely recognized as an astute observer of the many facets of the culture of come about. His first schedule established him as an authority on gambling and related issues. His second considers the relevance of gambling prohibition in the Internet age his third book takes in the entire sweep of gambling history from the begin of measure to the present day.
Schwartz was born in Atlantic City and worked in the casino industry there specializing in security and surveillance though he also had a formative early save as Mr. Peanut. He's got a Ph. D in U. S. History from UCLA and since 2001 has been the Director of the at UNLV which means that he not only studies gambling but also encourages others to do so. He's also taught a be of subjects running the gamut from hospitality security to writing creative non-fiction but mostly focusing on gambling and history. For his beat bio check out the.
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http://www.dieiscast.com/2007/12/11/caesars-raises-limits/
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