Playing High Limit Betting : What does it mean to be a High Roller
High Limit Betting is something which can be experienced by the VIP Gamblers. A VIP Gambler can be determined by his high stakes bets and transactions involving huge amounts of money. In real casinos, such players are entitled to additional perks such as access to Private Tables; they are given limousines along with chauffeurs to transport them and they are put up in exclusive suites or penthouses.
Apart from non-gambling related perks VIP guests/players who indulge in Playing High Limit Betting are entitled to some perks in the Casino as well, those include:
The players who indulge in High Limit Betting are commonly referred to as “High Rollers”. These high rollers are subject to differential treatment by the casinos. A simple example of this can be seen in the “House Edge” between some of the biggest casinos in the city of Las Vegas, Nevada.
The House edge at the MGM Grand is approximately 0.255% for a game of Blackjack, with a minimum bet of 100 US Dollars. While the House edge at a smaller casino such as the Cosmopolitan is approximately 1.830% for the same game of Blackjack, the minimum bet is approximately 10 times lower and is set at 10 US Dollars. Thus, Casinos prefer offering a lower house edge to High Rollers as the sheer size of their bets make up for the lost percentage.
Better Comps and Special Packages:
Most of the High Limit Betting involves extending an incredible credit system for the High Rollers, however, in doing so the casinos are putting themselves at a big risk as the High Rollers may even take a big amount in credit, running into millions of dollars, and then when they end up losing, they may not repay and the casinos may have to file a lawsuit in order to recover the money.
The major risk that the casinos take when recovering the money is that the borrower may actually end up declaring bankruptcy in order to avoid paying the debt or they may also claim in court that the casino indeed took advantage of their gambling addiction.