7 Questions
Which of the following statements is true about gambling?
Its primary intent is to win additional money or items.
Which of the following is NOT an element of gambling?
Skill.
Which of the following regions are the three largest markets for casino gaming?
North America, Asia pacific, and Europe.
Which of the following statements is NOT true about GGR?
It is primarily determined by the number of players.
What is the term for the phenomenon where non-gaming revenues are becoming more important in casino resorts?
Mirage effect.
Poker is a mercantile game with odds that guarantee long-term profitability of the casino
False.
Which of the following statements is NOT true about house edge?
It ensures that players always lose money.
Study Notes
Gambling Overview
- Gambling involves three key elements: consideration, chance, and prize.
Casino Gaming Markets
- The three largest markets for casino gaming are: Asia, the United States, and Europe.
Gross Gaming Revenue (GGR)
- GGR is not the same as revenue or profit; it is the amount of money wagered minus the amount won.
Casino Resorts
- The phenomenon where non-gaming revenues are becoming more important in casino resorts is known as "resortification".
Poker
- Poker is not a mercantile game with odds that guarantee long-term profitability of the casino; it is a peer-to-peer game.
House Edge
- The house edge is not always a fixed percentage; it can vary depending on the game and the rules.
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