UK VIP Gamblers: What are they looking for?
Last updated: November 03, 2019
Last updated: November 03, 2019
In this article we take a look at the life of a high roller casino player from the UK and the perks that go with it.
Gambling is known as a game of chance. A lucrative and highly entertaining activity, with potentially huge highs and gains that are only understood by those who have access to it.
Gambling provides a buzz, a thrill and a pursuit of huge winnings, which can all be achieved without having to put in much effort. In an even money game, a winning $50 dollar bet yields a $50 gain. A gambler can win a large sum of money in a fraction of the time it takes someone working a job to earn the same amount.
Another reason that people love to gamble is that they consider it a game in itself, one which gives them a faster heartbeat; an adrenaline rush and a thrill like no other.
Players may find it an escape from their everyday lives - something which provides them with a change of environment.
What kind of person is your stereotypical gambler? When you walk into a casino in your local area, you probably notice people who are playing baccarat, craps, blackjack, poker, roulette, pai goi and many other games.
You may also notice that gamblers come from all walks of live; young and old, man and woman, Asian and Caucasian.
Typically, you will find that players will wager an amount of money that they feel would be sufficient to provide a good return on investment (ROI) on their initial wager. They are not simply trying to get their money back - but to win a considerable amount on top.
There is a one notable group of clientele that many casinos seek to cater to, above others; they are known as the high-rollers.
These are people who typically place bets or wager stakes with very large amounts of money. While a normal punter may risk a couple of hundred dollars on a casino visit, a high roller will often risk thousands, sometimes tens or even hundreds of thousands.
It is imperative for casinos to do their utmost to attract such high-stakes players to their establishment. That is why they often provide special privileges or even monetary bonuses, which are tailored to the needs and demands of these big-time gamblers.
It is not easy to get inside the mindset of a high roller; they are often secretive characters, intensely focused on their activities, who give little away. But we can certainly attempt to profile what a typical high-roller may look like.
For instance, we know that a high-roller has a certain mindset, a different way of thinking to the everyday gambler. They live on the edge, always seeking out their next thrill. A high roller believes that the higher they bet, the more they can win. They think they can beat the game, the players and the house. A high roller tends not to be short on confidence or self-belief; conversely, they play to be the best - and to win the most.
The sheer amount of money wagered by high rollers often enables them to get offered special privileges and bonuses from the casino. They receive benefits only reserved for players of their stature.
A potential drawback of having the high-roller mindset, is that such a person tends to have a propensity to gamble a lot of money in the short-term - seduced by the possibility of winning huge. But, it must be noted, that it is still gambling. And, if this is done against the house, the high roller is usually going to be an underdog and likely to lose more often than not.
The bottom line is that high rollers who gamble more, also have a higher chance of losing more. Ultimately, gambling is gambling; one can never be sure of the outcome.
Another name given to high rollers is “Casino Whales”; casino players with deep pockets who make large bets. You are unlikely to find high roller casino players at the penny slots or the low-limit tables. These big spenders can drop thousands upon thousands of dollars in one night.
And the incredible benefits offered to these people is a big factor in why they keep coming back for more. After all, who would not want to be treated like a king.
The rewards a high roller can expect to receive, includes: discounted or free rooms, complimentary drinks and food. Some of the most generous rewards offered to high rollers have included; in-room service from famous chefs, gourmet meals, front row seats to the biggest shows, limousines, chartered jets and luxury suites.
Another common practice engaged in by high roller casinos is to offer their top players a line of credit. A player may have a million dollars to play with but he or she may not want to carry around such huge quantities of cash.
It is imperative for a casino to be able to issue quick credit for them to be able to attract the biggest and splashiest punters to their establishment.
Although, of course, the vast majority of players are not going to be betting millions on a visit, the fact that high rollers can pour thousands of dollars in cash into the casino during each visit, is a reason that nearly every casino that has table games offers credit.
The idea is that the richer a player may be, the higher the limits they will play; and, ultimately, the more cash they will lose to the casino.
The amount of credit offered by casinos varies and typically depends on how desperately casinos want to maintain their high rollers.
When casinos fear losing their biggest spenders, they will typically offer them more credit, giving their high-stakes players more money to bet with at any given time.
For instance, during the recession, the amount of credit offered to high rollers in United Kingdom was high. In fear of losing their wealthiest players, UK online casinos kept giving money to their high rollers. This lead to millions of dollars in player debts owed to the casinos.
In order to cover bad debts, casinos set aside hundreds of millions of dollars in allowances. Back in 2012, Sands Casino in Vegas reportedly set aside a $492 million allowance for potential debts, in case of something going seriously wrong. Meanwhile, to cover their bad debts, Caesar’s Entertainment Corp. allowed over $200 million, and Wynn and MGM Resorts made allowances of about $100 million. In essence, debts were written off.
Another element that relates to the life of the high roller casino player, is their casino host. This is someone who is there to ensure that gamblers have a good time and are made to feel good about themselves. This is done by fostering a relationship, getting to know customers and helping them make the most of their casino visit.
The casino hosts' role is to offer a holistic experience to visitors. They take care of everything: from organising VIP rooms for the players, to making them reservations at top restaurants.
High rollers may ask a casino host to throw them a party at a penthouse suite in the casino hotel; others may request the best seats at a sold out show or tickets to a top sporting event. Or simply a limo ride to and from the airport.
The casino host will try to give their VIP players as much as possible - it is their job to keep them happy. But, of course, the levels they will go to often depend on how high you gamble - and, indeed, how much you have lost. If a casino is making large amounts of money from someone, it is certainly in their best interests to try to keep that person as happy as possible.
Another factor that has to be considered is that 'casino whales' do not necessarily add as much value to a casino's bottom line as most people would think. The vast majority of money that casinos make actually tends to come from their mid-level players, as they may be less sophisticated players or not as demanding in their requests.
Nevertheless, a top-level high roller can make the difference between a profitable or unprofitable quarter for casino. Casinos therefore go out of their way to make these gamblers feel special by showering them with various perks.
A whale can expect special transportation to and from the casino, whether this involves a private plane or just a luxury car. They may also receive special loss rebates that a normal player cannot get. A top high roller can automatically expect to receive a choice hotel room, the best dinners, and expensive liquor. They may also receive a VIP nightclub table and front-row show tickets.
It is clear to see that there are many perks that go alongside living and playing as a high roller. But one must not overlook the risk factor and realise that it is not a lifestyle everyone is cut out for. But, as they say in poker, 'no gamble, no future.'