I was just looking over the annual statistics published by the Las Vegas Convention and Visitors Authority in its Visitor Profile. I couldn't help but notice what appears to be an annual decline in gaming budgets.
According to the report, and this is a quote:
Among those who gambled in 2010, the average gambling budget was $466.20,
not significantly different from last year, but down from $651.94 in 2006, $555.64
in 2007, and $531.98 in 2008.
I've been told that this statistic is based on interviews when visitors arrive in Las Vegas, primarily at the airport. What the report does not indicate is how much is actually spent on gambling after the initial gambling budget is lost.
For more on that, see the video interview I did with gaming author Victor H. Royer who is known as "Vegas Vic" who says that the average visitor comes to Las Vegas with a gambling budget of about $500, but by the time that average visitor leaves Vegas he's lost $3,600 gambling. Bless those ATMs that are everywhere.
The interview is on this page: http://alanbestbuys.com/id73.html along with other information about Vegas gaming and spending.
And here is the specific interview video:
So what's your initial gambling budget and more importantly do you stick to it? We had a long discussion on this Forum about "win goals" but maybe it's time we had a discussion about loss limits?
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