How Much Money Does Vegas Get From The WSOP?
Las Vegas was built on the back of the gambling industry and would not exist as we know it today without the casino. Whatever your opinion of Sin City, there's no denying that it's a unique place you won't find anywhere else.
Poker is only a small part of the whole industry and casinos were popular before the rise of poker. That said, the WSOP draws thousands of people to Las Vegas every year, and most of them aren't just there for the tournaments.
Those who go to Vegas spend money on food, lodging and entertainment, including various forms of gambling. So how important is the World Series of Poker in the grand scheme of things and how much revenue does the WSOP Vegas 온라인카지노 bring in? This is not the easiest question to answer, but I will do my best.
How much money do you need to visit Vegas?
People who come to Vegas for the World Series of Poker are free to choose which tournaments they want to play.
The rake in each tournament is between 5 and 10 percent, which in itself represents a huge increase in revenue for Rio and the WSOP. For example, in 2019 the WSOP earned more than $5.1 million from the Main Event alone. Some of the money went to the croupiers while the rest went to the casino.
So of course the series brings in a lot of money from purchases and only goes to one place.
However, there is more to consider when considering the importance of the WSOP to Las Vegas.
The series attracts tens of thousands of people from all over the world every year. They spent more than six weeks spending their time and money in Vegas, which should be a huge boost to the city's economy.
The city regularly conducts surveys to measure how much visitors typically spend on food and entertainment, and the latest figures are from 2019.
According to the latest survey, the average person spends:
- $21 for a day of fun
- $93 a day in food
- $318 per day of gambling
The average person who visits Las Vegas for a week to play a few WSOP tournaments can spend about $3000 "on the side". That doesn't even take into account nights out, which can be very expensive in Vegas.
Sure, you can get free drinks at the casinos, but if you want to hit the clubs early, you're going to get a big tab.
Of course, it's not an exact science, as many players who come to town specifically for the WSOP may try to budget their spending and stay away from the gaming tables to maintain their bankroll. However, many of those who visit in season will be looking to make the most of their time and aren't afraid to spend a little more money.
After all, it's not every day you get to spend time in a city that offers crazy action 24 hours a day.
.jpg)
This is especially true for those from Europe or Asia as their travel costs are high. Therefore, the city of Las Vegas can earn an average of $2,000 to $5,000 per visitor for every seven days they spend there.
Considering the World Series of Poker usually lasts about six weeks and tens of thousands of people come and go, that's relatively little money.
Hotels in Las Vegas
Of course, all these people who come to Vegas need a place to stay.
Serious grinders who want to stay for the duration of their stay look for private accommodation options and often rent a nice house to stay for several weeks.
However, the average visitor who only plans to stay a week or two is likely to book a hotel, and this is another significant source of revenue for Las Vegas Poker. Of course, prices vary greatly depending on the quality of the hotel and how close it is to the Strip. They start at $60 per night and go up to $200 if we don't factor in the many options.
From this we can see that the average visitor spends about 120 USD per day for accommodation and maybe about 750-800 USD per visit if they stay for a week.
Multiply that number by about 20,000 or 30,000 and you get a big number, even by Vegas standards.
What would these numbers look like without the WSOP? You'd think that Las Vegas is such a popular destination that even without the World Series there would still be a lot of visitors and the city wouldn't suffer much in terms of revenue.
While it's impossible to say for sure, since the World Series has been around for over 50 years, it may not be.
Vegas is definitely a magical place in many ways, but the climate is not on that list.
If you've ever visited during the summer months, you know that it's often unbearably hot outside and people are looking for places to hide from the high temperatures. Life without AC is quite unbearable. So, if given a choice, people prefer to plan their WSOP trip in the spring or fall when the climate is better. All things being equal, why be subjected to such trials?
But with the WSOP taking place in June and July (usually), those who like poker don't have that luxury.
If they want to be a part of the biggest annual poker event, they should visit it in the summer. There is no way around it. Did the people in Vegas have this in mind when they put on the World Series, or was it just an accident? Who knows
But the fact remains that the Series brings a large number of visitors to the city during what can be a relatively quiet time.
In addition, the WSOP offers something for those who don't care much about gambling in general.
And of course those who try poker will still spend a lot of money on other things like eating out, going to different movies, clubs, etc. So there's no denying that the World Series of Poker has done a lot for the Vegas economy and will continue to do so in the future. So the cancellation of almost all live poker events in 2020, including the WSOP, is a heavy blow.
Comparing 2020 to recent years, Las Vegas saw a huge drop in visitor numbers, which is not surprising at all.
As of 2014, there are more than 40 million people who visit the city every year. In 2020, it will be 19 million. One of the pillars of the Vegas economy
At the end of the day, the World Series of Poker plays an important role in the overall economy of Las Vegas. Although the city seems to be awash with money, things are not always as they seem.
Running a machine as expensive and slick as Vegas takes a lot of money and a lot of behind-the-scenes workers. The city has to keep things moving all the time, and the money 카지노사이트 that comes in goes out just as quickly.
There are salaries to be paid, taxes to be paid, and the maintenance costs of large casinos are staggering. In this situation, the World Series of Poker plays a very important role in maintaining balance and ensuring that there is plenty of action in town even in the quieter months.
Despite the heat, the number of visitors to Vegas has remained constant in June and July, and it's easy to think that it wouldn't have happened without the WSOP.
As an area that relies heavily on tourism and out-of-town visitors, Las Vegas is probably grateful to have the honor of hosting the largest annual poker tournament. READ MORE
The direct revenue that WSOP players bring in through rake and fee payments is only a small part of the picture. That's a lot of money, but it pales in comparison to how much money is spent elsewhere in Vegas. From accommodations to shows and entertainment, Las Vegas makes a lot of money from those who visit the WSOP, whether they're there to play or just hang out with the players.
Can Las Vegas survive without the World Series of Poker?
That's the surest thing.
But if the WSOP is halted, the city will definitely feel the pain as revenue will drop significantly during these two important months.