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High rollers are thrill seekers. They're risk-takers who bet large sums of money on the possibility of a win. When high rollers win, they win big. When they lose, they lose big. It takes more than a large bank account to be a high roller - to be one of them you have to be a certain kind of person with a certain psychological profile.
High Roller's Profile
In 2010 researchers at the University of San Francisco identified the characteristics of a typical high roller:
- The average high roller at casinos, both on-line and on land, is a wealthy male.
- Average salary earned by high roller player is $175,000 per year.
- The average high roller makes 10 or more trips to a land-based casino per year. Approximately one quarter of these trips are business-related, while the other 75% are for pleasure.
- These gamblers are usually not interested in casino loyalty programs.
- These gamblers usually express their satisfaction with the quality of the facilities in which they gamble.
- Upscale casino resorts such as the Bellagio, Venetian and Wynn entice this subset of gamblers.
- High rollers comprise a small percentage of the overall gambling population, but their presence is highly significant in terms of casino profit.
Outrageous Online Jackpot
In September of 2013, an unusual on-line circumstance caught the gambling world's attention: In one weekend of high-roller gambling at Just-Dice[dot]com, a user by the name of “Nakowa” won 11,000 Bitcoins. The USD equivalent of this win is approximately $1.9 million. Just-Dice officials have not been able to explain the win; theories run the gamut from computer hacking to just plain luck.
What happen in Land-Based Casinos?
While some land-based casinos are created to appeal to middle class day trippers, others are designed with wealthy high rollers in mind. These facilities often extend extraordinarily large table limits for guests. In Macau, the ceiling amount per bet is around $500,000! In Las Vegas – it oscillates around $300,000.
Macau
The Chinese city of Macau was built for wealthy gamblers. Thanks to its high rollers, this Asian Sin City rakes in at least quintuple of the profit of Las Vegas every year. Macau's Venetian has the largest gambling floor with nearly 900 game tables and 3,400 slot machines. Other hot spots include Wynn Macau, Casino Lisboa, and Galaxy Rio Casino.
Las Vegas
Although the original Sin City relies heavily on middle class tourism for its income, VIP gambling rooms have their permanent place at Las Vegas' casino map. In Vegas, a high stakes gambling trip is also about luxury. At Fantasy Tower of the Palms Casino Resort, special guests can rent the $25,000 per night Hardwood Suite together with personal basketball courts and cheerleaders. For $40,000 per night, they can enjoy the Hugh Hefner Sky Villa.
Atlantic City
In 2003, when the New Jersey Borgata was built, officials hoped that this luxury building would lure high rollers back to Atlantic City. With 3,500 slot machines, 250 table games, 200 elegant hotel rooms and reputable dining and entertainment options, the Borgata has accomplished its mission.
High Rollers Stories
- Hillel 'Helly' Nahmad: While some high rollers operate within the boundaries of the law, others cross the line of legality and get themselves into the trouble. In last April, a billionaire Hillel “Helly” Nahmad and 32 of his accomplices were indicted for crimes associated with high rolling behaviors. The charges included money laundering, racketeering, and partaking of an illegal gambling ring. Nahmad’s illegal gambling activities had been disclosed thanks to numerous phone conversations which were recorded by the law enforcement. Nahmad used his family's art dealing business to cover his tracks but it was not enough. In August 2013, two of the 33 accused pled guilty to their crimes. Nahmad, however, maintains he is innocent.
- Archie Karas: Notorious high roller Anargyros Karabourniotis, otherwise known as Archie Karas, was arrested in September for possible card-marking in a San Diego casino. The incident in question brought him a profit of over $8,000.
- Don Johnson: Wealthy bettor Don Johnson became a millionaire thanks to a blackjack games. This gambling guru has been banned from 3 casinos in Atlantic City and 2 in Las Vegas simply because he costs too much money. A recent $15.8 million winning streak in Atlantic City prompted the bans; Johnson managed to legally extract $5.8 million from the Tropicana, $5 million from the Borgata and $4 million from The Caesars. He did it without counting cards.
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