- I don't understand what the drop zone is. I will get a message saying I am in the drop zone. What does that mean?
- Casino drop and win data shows the amount of money exchanged for chips in a casino (drop) and the amount retained by the casino (win). Monthly casino drop and win data covered casino games only.
Understanding Casino Industry Terms So That You Can Get Smarter Than They Are
Relevant gaming indicators include table 'win' and 'drop', and 'slot handle'. Win, also known as 'hold percentage', represents the amount of money wagered that is recorded as casino revenue. Drop is the cash and net markers issued that are deposited into a gaming table's security box. Lastly, slot handle is the coinage placed into machines. Table players change currency for casino chips at the tables. Place currency on the table layout and ask the dealer, 'Change, please.' The dealer will give you the corresponding amount in chips and will push your money into a locked drop box. When it comes time to leave, remember that the dealer does not have access to cash at the tables.
We have already written an article on Casino Payout and house edge which is the commonly statistic thrown around by casinos to compare themselves against their competitors. All casinos have a house edge, of course, and one with a higher house edge (or lower payout) keeps more of your bets than one with a lower house edge (or higher payout).
Payout also varies by game, so you can improve your odds by weighting your play to casino games with the best odds.But what about the other lingo that casino industry insiders use?
We think it´s interesting (nay- essential) to understand this so that you can turn the tables and try and get an edge on the house, or at least understand where they are getting their´s. Also read our article on how to make a deposit and withdrawal at an online casino which is related, of course, in that it’s all about the chips.
Gross Revenue
When a casino or stock analyst talks about Gross Revenue, they mean “total player losses”. So good for the casinos, and bad for the players. Normally “losses” are a bad word in financial circles. Not in the casino industry! They lurve losses, as long as they are the players´ losses.
Churn & Drop
Churn is the description of the way money moves around the casino. Say you buy $100 worth of chips and bet it on roulette. You bet $100, but only lose $3 (you´re playing European Roulette- you´d lose 5 on average if you were playing American Roulette). You grab the $97 and bet it again. Let´s say you end up making $500 worth of bets before losing it all (you are not having a lucky day). Then your “churn” is $500.
The cash on the roulette table goes round and round (literally). So it “churns” over like milk. If you lose your original $100, you have “dropped” $100.
Out of the “drop” (or hold) the Casino pays taxes, license fees, wages for staff, maintenance, marketing etc- the bean counters call the drop or hold “Gross Gaming Revenues”.
Now these numbers always sound really inflated. As you can imagine, if you put in $100 and it goes round and round, churning, the Gross Gaming Revenues are going to be sunstantially higher than the actual money that is spent on chips.
Now, the reason the Industry sounds so big is because of the “churn”, the money that goes around and around as punters play on the games. If we had a slot that paid back 99% then you can see that by only losing $1 in every hundred that “churns through the machine that the total “churn” would be very “high” in relation to the drop.
Lets take an example of someone playing Video Poker on a house edge of 1%. He puts in $100 and make $100 of bets.He loses an “average amount” (in reality some people are wining, and some people are losing). So after 100 $1 bets he has $99 left. His churn is $100 at this point, and the Casino Drop is $1.
Now he makes 99 bets with his money. This time he loses $0.99 and had $98.1 left
Now he bets the $98.1. He loses $0.98. Now he has $97.12.
So in this example of Mr Joe Average player, the total churn is $297.
The casino drop is $2.97
The player drop is $97.03.
You can see why the casinos like to keep you playing. (In fact hey like to see a playthrough of at least 20x if they can manage it- that is, you deposit 100 units and make 2000 worth of bets.
The house edge on this game might only be 1%, but on average, if the casino plies you with free drinks and keeps you playing, you´ll lose 1% of your total churn, not your deposit. If you play through the money 20 times and make $2000 worth of bets, you´ll be $20 down on average. You have lost only 1% of your bets, but 20% of your deposit.
Casinos like to churn!! The real money in a casino is the “drop/hold” as that is the actual cash that the casino has to work with. That pays the bills and generates the profit for the casino. The total churn is not all new money, it a lot of the original money going around and around. So to get to the real money going into a casino, you work out the money the players left at the Casino when their session ended. This is their losses or “spend” or “drop”. The Gross Gaming Revenues.
So what should you take out of this little “Casino Secret”. Well, quite simply, the more the casino can get you to churn, the more likely you are to lose, either your own money, or your winnings. That´s why smart gamblers often employ a “Hit and Run” strategy. if they win big at the beginning of a session, they quit. Simple as that.
The casino cashier’s cage is the operational nerve centre of casino operations. As a hub of activity, it performs many vital functions on a shift-by-shift, day-by-day basis. First, the cage, together with the vault, is responsible for the custodianship of and accountability for the casino’s bankroll. This involves the daily care, control, and accounting for thousands, hundreds of thousands, and even millions of dollars. After all, this is the casino industry we are talking about, with many high rollers playing for big money.
What is a Casino Cage?
To break things down, all transactions involving currency, coin, casino checks (chips), customer casino markers (IOUs), safekeeping funds, and customer front flow money to and from the cage and its related vault in a continuous cycle. Firstly, accurate recording procedures and adherence to sound internal controls are required to ensure bankroll safety and accountability at online casinos. Secondly, the cage provides a vital communication link to the casino pit or pit areas.
Services include providing check fills and credits to table games, as requested; supplying information regarding customer credit status; providing financing tabulations of table game activities documented by the master game report form; and keeping casino supervisors advised of the relevant information required for a smooth operation.
Thirdly, the cage deals with countless customer transactions. Front-line window cashiers handle casino chip exchanges for currency; cash personal, payroll, and traveller’s checks; handle customer safekeeping and 'front money' transactions; receive customer marker payment; deal with casino promotional coupons, and provide information to customers.
The Cashier’s Job
The main job of a casino cashier is to exchange casino chips for cash whenever the players bring their chips from tables like blackjack and craps. It is the cashier’s job to greet the player, take the chips, break them down by denomination and pay the player the right amount. If the total being paid out is quite high, a casino supervisor may be called to verify the payout before the cashier transfers the money to the player.
While errors rarely happen during this process, it is possible, therefore, cashiers but be diligent and efficient when they handle casino chips as you wouldn’t want either the casino or the player losing out. Cashiers would need basic math skills as well as the ability to distinguish the different chips used by the casino. If the casino makes use of slot machines that require players to insert coins, the cage and cashier will also have to accept and exchange these coin buckets.
The coins are taken to a coin sorter with the player in attendance, where the coins are counted. The total amount will be shown on the machine reader, and the cashier must pay this amount to the player. This not only saves time as the cashier does not have to manually count the coins but also prevents errors from taking place.
Cage cashiers must also handle a certain amount of paperwork when dealing with daily transactions, including balancing books and invoices. Cashiers may also need to run internal checks on gamblers who require credit or to process credit applications for new customers. They may also need to assist with cashing in tips for fellow employees.
It is important that the cashier have good people skills as you will be working with gamblers all day long. Cashiers must be able to satisfy the needs of all players, and be able to handle any negative or hostile situation that may arise. People may get antsy when money is involved, so it is important for cashiers to be able to control the situation and sort out any issues immediately and in the most professional manner. Many gamblers enjoy drinking while playing, therefore cashiers may also have to deal with intoxicated customers. Cashiers must be aware of all the relevant rules and regulations associated with the casino and gaming industry and be able to explain them when the situation arises.
The Blood Line of the Casino
Fourthly, the cage interfaces with virtually every casino department--- for example, transmittal of key forms to the accounting department; involvement with the hard and soft count audit teams; receiving and issuing cashiers banks to casino revenue departments (bar banks, showroom banks, Race and Sports Book banks, hotel front-desk banks, etc.); and working with the security department during the table game fill and credit process.
In some casinos, the cage supports the slot department by providing slot fills, supplying change persons with requested coins, and providing large jackpot payoffs. The cage is also charged with the responsibility of preparing and maintaining countless forms required for sound internal control procedures and safeguarding the casino's assets. Additionally, compliance with requirements and procedures of the Bank Secrecy Act is a critical responsibility of casino cage personnel. However, many casinos locate the cage toward the rear of the casino property and away from customer exits.
Keeping it Safe: Window Cage Security
Casino Drop Meaning Synonyms
One reason for this is to minimise the chances of a successful cage robbery. A second reason for locating the cage in the rear is the psychological factor. A customer cashing out at the window must walk the length of the casino toward the exit. The temptation of 'one last slot pull' or 'one final play at the table' can decrease the amount of money the customer takes out the front door. A third consideration is the location of the pit or live gaming areas. There are a number of structural possibilities for the cage facade. Metal bars, others by Plexiglas or shatterproof windows, protect some cages.Still, others are 'open' cages with no protective barriers. It all depends on the environment and management's perceived need for physical security. A small cage operation will typically offer two customer service windows and an additional window to service casino, slot, or employee requests. The larger the operation, the more service windows required, but keep in mind that customers do not to stand in long lines to cash their chips. It is better to have too many operational windows and window cage security than too few.
Casino cage operations and cashiers may not be necessary for the future as more and more casinos are now using coinless slot machines, which has made things a lot easier. With no coins to count, things are less likely to go wrong, fewer employees will be needed and there will less room for error. Some slot machines print out a bar-coded voucher instead of coins or cash that can then be cashed out ATM-type machines or at the cashier cage.
Casino Drop Meaning Synonym
The bar-code will indicate a legitimate voucher and is read using a reader, which will reveal the amount the player must be paid. The casino cage is one of the most important and highly functional aspects of a casino and needs to be treated as such. It is important to be respectful and civilised to your cashier at all times. Whenever you visit a casino, make sure to adhere to the rules of the establishment so that everyone can have an enjoyable experience.