This is my continuation of trying to understand better the psych of Chinese gamblers in Macau. 2 Chinese words aptly describe them :"搏命" (literally translate as gamble with life).
According to an interview by Forbes magazine with a Sands Macau manager, "The customer in Las Vegas comes into the casino to be entertained (i.e. to eat and to see the shows and to gamble). The Chinese customer walks into the casino to face destiny. They are here to do battle--and strike it rich.". It's purely business,baby!
A table at the Sands in Macau brings in an average of $6,100 a day--50% more than at the Venetian. The typical Chinese gambler bets $85 a hand, compared with $25 for a gambler in Las Vegas, even though per capita income in America is 34 times as high. Chinese customers also play more hands per hour; at their insistence the decks arrive already shuffled to leave more time for betting.
As mentioned before, I've saw a Chinese middle-aged lady tossing HK$9000 (US$1155) in exchange for baccarat chips at Sand Macau. Also. Chinese gamblers prefer baccarat and other confrontational table games so they can fight the house head-on.
At the Chine border, it’s easy to see why
While Chinese tourists can take only US$5000 out of
Where did they get soooooo much money? A few plausible reasons: they are rich gamblers, they are China's new middle class, some could be corrupted gamblers, some moratgage their property to finance their LUCK (hence 搏命! ). Sort of like Japanese kamikaze pilots, huh!
As Victor Niederhoffer's said in his book, " The Education of a Speculator", "all the great professional gamblers-sooner , later, or often---experience total bankruptcy because of their willingness to throw every last chip on the table, even for the sake of a "spec" or proposition bet".
Big/Small anyone?