When we think about it, most of us have a preconceived notion of what it would be like to be a high-roller gambler. James Bond, 007 Put on your tuxedo. I’m holding a martini. In Monte Carlo’s bright sunshine. Poker. It might be blackjack. Chips worth several hundred thousand dollars.
Who exactly are these High Rollers? The Definition and Importance of the Term “High Roller”
Even though there isn’t just one definition of a high roller, it is common knowledge that high rollers are seasoned gamblers who have a lot of money and don’t let their fear of losing that money stop them from gambling (away). They are known for enjoying the most coveted status in the gambling industry and get the most out of the best perks offered at casinos.
If a player is considered a high roller, the casino may offer to provide them with a private jet to transport them to the establishment, as well as a limousine that will be standing by to take them wherever they need to go. It goes without saying that there will be penthouse suites, followed by the best dining and entertainment. But in the world of online gambling, the definition of “high roller” may not be the same as it is in Las Vegas or any other land-based casino for that matter. Why? Reasons that are obvious.
Online casinos are inherently distinct from traditional land-based casinos due to the fact that the former promote the image of a glitzy lifestyle befitting a high roller (as was done in the previous paragraph). With this in mind, online casinos provide high rollers with a variety of benefits, some of which include improved playing conditions, a more favourable selection of high roller bonuses, increased deposit and withdrawal limits, the ability to negotiate comps, and other benefits of a similar nature.
However, the true power players in the casino industry do not fit this hedonistic archetype.
According to a report compiled by Shaun C. Kelley, a research analyst at Bank of America Merrill Lynch, “globally, high-roller play is heavily skewed toward Asian gaming markets and is dominated by one game: baccarat.” Forget poker: baccarat is the game to play in Macau’s gambling scene.Game revenue in 2014, broken down by game Merrill Lynch Global Research, DICJ, and Bank of America Merrill Lynch & Co.
Even though Hollywood has made poker and blackjack appear more appealing through the medium of film, the “whales,” also known as high rollers, prefer to play baccarat. Baccarat is a game that even those who are unfamiliar with it can understand. Players bet on whether the player or the dealer will get closer to a nine-card combination with the cards they are dealt, or if it will be a tie.
One of the primary reasons for the game’s enormous popularity is that the house has such a negligible advantage over the players. Baccarat just so happens to be very popular in Macau. According to BAML data, VIP baccarat and regular baccarat play account for 90% of total gaming revenue at that location, with the VIP portion accounting for 60% of total revenue on its own. Baccarat is played in Macau according to a different set of rules for high rollers.
During playtime, a regular Joe interacts with other regular Joes
A VIP player in Macau, according to Kelley, has a reserved table in a private gaming salon complete with a dealer staff and other amenities. These private gaming salons can be found near the casino’s main floor or, on occasion, in “more exclusive and restricted-access areas.”
Perhaps the only thing that wild whales and James Bond have in common is that they are both mammals. Furthermore, high-stakes gamblers in Macau can purchase “rolling chips” ahead of time, which they will receive on credit once they arrive in the city.
“Rolling chips,” according to Kelley, are non-negotiable and are used to track the play of VIP customers. They must place at least one bet, with any winnings paid out in regular, negotiable chips that can be exchanged for cash if desired.
According to Kelley’s writing, “rolling chips ensure that casinos pay rebates on amounts wagered.”
Two pieces of sound advice
As previously stated, the majority of high rollers bet with lines of credit, also known as “markers,” rather than cash. According to Kelley, marker play can account for up to two-thirds of all gaming activity in Las Vegas. And this is the most crucial detail that the guys in the back are keeping an eye on.
According to BAML, a senior gambling executive recently advised a new executive, “I have two pieces of advice: Watch your credit and watch your credit.”