High roller
Encyclopedia
A high roller, also referred to as a whale in the casino
industry, is a gambler who wagers
large amounts of money. High rollers often receive lavish "perks" from casinos to lure them onto the gambling floors, such as free private jet transfers, limousine
use and use of the casinos' best suites
. Casinos may also extend credit to a player to continue betting, offer rebates on betting turnover or losses, and salaries of employees may also contain incentive arrangements to bring in high rollers.
The definition of a high roller varies. At Crown Casino in Australia it involves bringing between A$50,000 and $75,000 to the table. High roller players often have very high table limit
s allowing the high roller exclusive use. Casinos compete on bet limits, in Australia limits of A$300,000 are common, in Las Vegas
they are between US$150,000 and $300,000, and in Macau
they are up to US$500,000. Only casinos with "substantial financial firepower" can accommodate high-stakes gambling due to the "volatility" of results.
High rollers may also be subject to exceptions from various rules and regulations, for example the high roller rooms at Crown Casino in Melbourne, Australia are the only licensed venue in the state not subject to a ban on smoking
.
High rollers are said to provide only a small fraction of casino "action." John Eidsmoe
, in his book Legalized Gambling: America's Bad Bet, claims that it is actually gamblers from the lower and lower-middle classes in the United States that provide much of the gambling money. "The occasional wealthy 'high roller' does indeed exist, but he is the exception, not the standard. The fact that more than 50% of Nevada's gambling income comes from slot machine
s as opposed to the card tables should be an indication high rollers are not the main source of revenue."
One example of a high roller is an Australian man who turned over more than A$1.5 billion in a 14 month period from 2005, becoming "one of Crown's largest Australian players but not in the same league as our top international players". There have been many cases around the world where high rollers have committed fraud to provide funds for gambling beyond their means, after becoming seduced by the lifestyle.
While high rollers may not provide a significant portion of the revenues in the casino industry as a whole, they can have a major effect on the net income of casinos that cater to them. There are significant costs associated with attracting the highest stakes gamblers, so if a casino takes this chance and the whale wins, its expenses can be extraordinarily large. But if the casino's investment pays off and the high roller loses, the casino's gain can far exceed its expenses for his or her visit.
Casino
In modern English, a casino is a facility which houses and accommodates certain types of gambling activities. Casinos are most commonly built near or combined with hotels, restaurants, retail shopping, cruise ships or other tourist attractions...
industry, is a gambler who wagers
Gambling
Gambling is the wagering of money or something of material value on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods...
large amounts of money. High rollers often receive lavish "perks" from casinos to lure them onto the gambling floors, such as free private jet transfers, limousine
Limousine
A limousine is a luxury sedan or saloon car, especially one with a lengthened wheelbase or driven by a chauffeur. The chassis of a limousine may have been extended by the manufacturer or by an independent coachbuilder. These are called "stretch" limousines and are traditionally black or white....
use and use of the casinos' best suites
Suite (hotel)
A suite in a hotel or other public accommodation, denotes a class of luxury accommodations, the key feature of which is multiple rooms. Many properties have one or more "honeymoon suites", and sometimes the best accommodation is called the "presidential suite".Suites offer multiple rooms, with more...
. Casinos may also extend credit to a player to continue betting, offer rebates on betting turnover or losses, and salaries of employees may also contain incentive arrangements to bring in high rollers.
The definition of a high roller varies. At Crown Casino in Australia it involves bringing between A$50,000 and $75,000 to the table. High roller players often have very high table limit
Table limit
The table limit is the minimum and maximum bet that a gambler can make at a gaming table. It is a form of yield management in that the limits can be changed to optimize the profit from a gaming table. Gaming tables have a limited resource to sell, the seats used by the players.- Minimum table...
s allowing the high roller exclusive use. Casinos compete on bet limits, in Australia limits of A$300,000 are common, in Las Vegas
Las Vegas Strip
The Las Vegas Strip is an approximately stretch of Las Vegas Boulevard in Clark County, Nevada; adjacent to, but outside the city limits of Las Vegas proper. The Strip lies within the unincorporated townships of Paradise and Winchester...
they are between US$150,000 and $300,000, and in Macau
Macau
Macau , also spelled Macao , is, along with Hong Kong, one of the two special administrative regions of the People's Republic of China...
they are up to US$500,000. Only casinos with "substantial financial firepower" can accommodate high-stakes gambling due to the "volatility" of results.
High rollers may also be subject to exceptions from various rules and regulations, for example the high roller rooms at Crown Casino in Melbourne, Australia are the only licensed venue in the state not subject to a ban on smoking
Smoking ban
Smoking bans are public policies, including criminal laws and occupational safety and health regulations, which prohibit tobacco smoking in workplaces and/or other public spaces...
.
High rollers are said to provide only a small fraction of casino "action." John Eidsmoe
John Eidsmoe
John Eidsmoe is an attorney and a professor of constitutional law and related subjects. He has previously taught at the Thomas Goode Jones School of Law, Faulkner University, Montgomery, Alabama, and at the O. W. Coburn School of Law at Oral Roberts University. He served in the US Air Force as a Lt...
, in his book Legalized Gambling: America's Bad Bet, claims that it is actually gamblers from the lower and lower-middle classes in the United States that provide much of the gambling money. "The occasional wealthy 'high roller' does indeed exist, but he is the exception, not the standard. The fact that more than 50% of Nevada's gambling income comes from slot machine
Slot machine
A slot machine , informally fruit machine , the slots , poker machine or "pokies" or simply slot is a casino gambling machine with three or more reels which spin when a button is pushed...
s as opposed to the card tables should be an indication high rollers are not the main source of revenue."
One example of a high roller is an Australian man who turned over more than A$1.5 billion in a 14 month period from 2005, becoming "one of Crown's largest Australian players but not in the same league as our top international players". There have been many cases around the world where high rollers have committed fraud to provide funds for gambling beyond their means, after becoming seduced by the lifestyle.
While high rollers may not provide a significant portion of the revenues in the casino industry as a whole, they can have a major effect on the net income of casinos that cater to them. There are significant costs associated with attracting the highest stakes gamblers, so if a casino takes this chance and the whale wins, its expenses can be extraordinarily large. But if the casino's investment pays off and the high roller loses, the casino's gain can far exceed its expenses for his or her visit.