Why Are VIPs So Important for Casinos?
Casinos can bring in a wide range of players. However, it is important to note that some players are much more important for a casino's profits than others, which is why they can receive special treatment. These people are what are called high-rollers, who are both blessings and curses for casinos because they can exchange millions and millions of dollars within no more than a short period of time.
What Are VIPs Both a Blessing and a Curse for Casinos?
First and foremost, a high-roller is a blessing because they are willing to spend huge amounts of money, thus making them that much more valuable as customers when compared with other players. Furthermore, it should be mentioned that most high-rollers can afford to spend huge amounts of money, meaning that so long as they are pleased by their experience, they are willing to return again and again. In other words, if a casino treats a high-roller right, it is possible that it will win by turning said individual into a roaring river of revenue that will continue running for years and years to come.
Second, a high-roller is glamorous. Granted, the welcome offer for a standard player is far from being as good as the welcome offer for a high-player, but their presence can nonetheless convince other people to play at the casino. Sometimes, this is because said individuals are encouraged to play in hopes of winning the same kinds of sums. Other times, they are just caught up in the enthusiasm of the moment. Whatever the case, a high-roller isn't just someone who can be turned into a lucrative revenue stream but also someone who can have a noticeable impact on a casino's overall numbers through their influence on other players.
With that said, high-rollers can be a serious problem for casinos as well. As stated, they are willing to spend huge amounts of money, meaning that they can wind up either winning or losing millions of dollars over the course of a single outing. In the long run, the casino is set up in a manner to ensure that their play is profitable for itself, but the problem is that high-rollers can run into the same streaks of good luck and bad luck as their standard counterparts. Due to this, it is not unknown for a casino's hunger for profit to cost it millions and millions of dollars, particularly since a lot of high-rollers are long-time players with a lot of expertise and experience backing them up. Suffice to say that when this happens, the metaphorical heads that roll can belong to those sitting at the top of the casino's hierarchy because those who are the people who can approve the kind of extravagant bets that high-rollers are known for in the first place.
How Are VIPs Treated By Casinos?
There aren't a lot of high-rollers in the world. This is because a high-roller needs to have the money to back up such extravagant bets as well as the kind of personality needed to get them to come back to a casino again and again. As a result, casinos are willing to go to great lengths to get a hold of said individuals because if they don't, their competitors won't hesitate to make the same mistake.
The treatment included in the welcome offer for high-roller can see significant variation because different people like different things, which is relevant because when so much money is involved, the casinos tend to be pretty flexible. There are stories about casinos flying them into town on private jets before putting them up at the best accommodations that can be found, which are in addition to the stories about casinos sending their wives as well as their mistresses gifts on their birthdays. There are even plenty of stories about casinos breaking the law for the purpose of pleasing their most potentially profitable customers, which is perhaps unsurprising considering just how profitable a high-rolled on a streak of bad luck can be. Of course, the problem with high-rollers is that the casino must put itself at risk in the process. As a result, it could very well be the one to back down if it doesn't have the nerve to continue, which must be a rather odd position for the casino to be in.
