Handle is gross throughput, not consumer expenditure: over 90% of what is wagered gets returned to bettors in the form of winnings. That $1,000 in bets translates to roughly $100 in average losses per adult.
The market is big, but less than the more clickbaity headline would suggest.
I would guess the mean and the median are very different. How many people taking out a mortgage on their house does it take to counteract a hundred grannies playing the penny slots?
You have to keep your clients thinking that they are almost there, maybe the next hand will be the one, that loss wasn’t so bad… You don’t gut the fish, you slowly raise the temperature.
The market is big, but less than the more clickbaity headline would suggest.
As someone who has gambled once or twice, this seems like a wild overestimate.
I would guess the mean and the median are very different. How many people taking out a mortgage on their house does it take to counteract a hundred grannies playing the penny slots?
I’m shocked that so little winds up with the house.
You have to keep your clients thinking that they are almost there, maybe the next hand will be the one, that loss wasn’t so bad… You don’t gut the fish, you slowly raise the temperature.