Las Vegas is a city of gambling. It would only exist with the casino in the form everyone knows now. Many people speak negatively about Las Vegas, but it cannot be denied that such a place on the planet no longer exists.
Poker is one of the gambling games that interest in which has increased significantly recently. Casinos in Las Vegas were popular even before the advent of poker. But this discipline still contributes to an increase in the number of visitors.
Every year, Las Vegas hosts the world-famous WSOP poker tournament. It attracts tens of thousands of people from all over the world. At the same time, many come not only to take part in the tournament.
If you're heading to Las Vegas for the upcoming World Series of Poker tournaments, it's worth preparing for various expenses. Money will be needed for food, accommodation, entertainment, and gambling. Today we discuss how much money you need to visit Vegas and how much income the WSOP brings to this industry.
How Much Money Do You Need to Visit Vegas?
The main feature of the WSOP is that visitors decide which tournaments to participate in. It all depends on the level of preparation, the size of the buy-in, and other indicators. If you are not planning to go anywhere but want to try your hand at poker or participate in online tournaments, here's a great option: https://www.ignitioncasino.eu/poker.
The main feature of online poker is the minimum buy-in. Occasionally, you can start with just a few cents. As a result, such games are suitable for players with any bankroll size.
Let's get back to the WSOP tournaments. The rake is set at 5 to 10% in each competition. As a result, it turns out that the WSOP attracts giant sums for the tournament.
At the end of 2019, the Main Event raised $5.1 million. Part of this amount went to the dealers, and the casinos earned the rest. By this indicator, it is clear that the World Series of Poker brings significant income to Las Vegas.
The situation worsened slightly with the onset of the COVID-19 pandemic. The established restrictions on visits have led to a decrease in the income of local casinos. But in 2021-2022, the situation stabilized.
Hosting the WSOP in Las Vegas is of great value to the city. Hundreds of thousands of people worldwide come to the tournament alone. They spend their time and money here all six weeks of the event.
Annually, statistical surveys are conducted among visitors regarding the number of costs. According to the indicators of the latest survey, the main expenses of the average person fall on the following areas:
● $21 for entertainment, excluding gambling;
● $93 for food;
● $318 for gambling.
The figures shown are daily expenses. However, there are additional costs. So, for example, to participate in some tournaments, you need to spend about 3 thousand dollars.
All prices shown do not include parties in Las Vegas daily. Admission to some events can be pretty expensive. Sometimes casinos offer free drinks to tournament participants, but even on this, you won't be able to save much.
Summing up, visitors spend from 2 to 5 thousand dollars during their 7 days in Las Vegas. The World Series of Poker usually lasts 6 weeks, generating huge revenues for the city.
Las Vegas Hotels
Do not forget about the need to live in Las Vegas during the visit. Seasoned gamblers visiting the city for more than a few years are exploring affordable private housing options. Renting such a property will cost less than staying in a hotel.
The option with a private house will only be relevant if you come to Vegas for 2-3 weeks. If you plan to stay here only for a week or two, it is better to book a hotel. As a result, hotels become another significant source of income for Vegas during the WSOP.
Room rental rates vary. The cost will depend on how close the hotel is to the Strip. On average, the price of a night in a hotel varies from 60 to 200 dollars.
Can Vegas Expect to Earn That Kind of Income Without the WSOP?
The WSOP is held during the summer when the heat builds up in Las Vegas. People must constantly search for a place to hide from high temperatures. Therefore, if a regular visit to Vegas is planned, then early spring or autumn is preferred.
If visitors are interested in the WSOP, they must deal with such a nuance as the heat. In simple terms, without the WSOP, Las Vegas would lose a massive chunk of its revenue during the summer months.
The World Series of Poker plays an essential role in the economy of Las Vegas. At first glance, it appears that the city is overflowing with money. But everything depends on many nuances, one of which is the WSOP.
High financial and labor costs are required for the city to stay afloat and continue functioning. Casino players bring in much money, but these amounts are quickly spent on maintenance.