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Yes and that’s what everyone needs to understand. Betting sites won’t want to lose big money to gamers but they know there are fair chances that they will, they use the winners to boost their marketing. A gambling site with large payout can help high staking gamblers to trust them.
Gambling business are one of the smartest ventures today. They know how they do their adverts well and make it very simple and pass a very big message to how they can be patronised more. This adverts on large payout wins to their customers has been an edge for many gambling businesses, it shows that they’re well to do to make payout of big wins from the casino when a gambler wins. Due to limitation of withdrawal some casinos has on big wins, this attract bigger gamblers to want to use those casinos, and they earn from them more when they wager big money. They rush here to get more acquainted to probably winning a jackpot sooner and cashing out big without having any problems on withdrawal.
You've got it completely back to front. It isnt one of the "smartest" ventures. Most in the industry are in it because someone close to them, typically family, is in the business. There was a thread where a real casino ceo/owner/high up (cant remember) outlined this exact thing. It is incredibly hard to compete. It doesnt take a genius to understand why. You are up against companies that, for all intents and purposes, have infinite cash. Unless you do too, your vip system wont be as good or even exist, your bonuses, rakeback, competitions, level system etc etc etc will be nothing in comparison to what a big fat whale of a casino such as stake can offer.
Stake is considered generous (and by comparison to the industry, i guess they are), and they give roughly $15-20 million per month as bonuses. This is such a miniscule fraction of what they make, it doesnt even make a dent. They are a multi multi multi billion dollar company. Hell, one i looked up recently, pokerstars (cus i couldnt fathom how it is so shit when i knew they had to be worth at least a few hundred mil) is worth 6 billion dollars, roughly. Yeesh, do think before you speak.
And thats not even touching on the out-sourcing - in-house - employee structure - design elements - gamified elements etc etc etc. Someone go find the thread im talking about and wizen this lad up.
Start a casino and get back to me with a link, smarty.
Oh and just another point. Many casinos, if not most, lead back to one large holding company. These are not individuals waking up and saying "fuck it ima make millions off a casino". Definitely not. Here are some examples.
Entain - PartyCasino, PartyPoker (shared platform), bwin (has casino), Ladbrokes Casino, Coral Casino, Gala Casino, Foxy Games, CasinoClub, Gioco Digitale, Crystalbet, Sportingbet
Flutter - PokerStars Casino, Betfair Casino, Paddy Power Casino, Sky Vegas (under Sky Betting & Gaming), Fox Bet Casino (U.S.), Sisal (Italy – includes major casino ops)
Kindred Group - Unibet Casino, 32Red, Maria Casino, Vlad Cazino (Romania), iGame, Kolikkopelit, Bingo.com (offers slots/casino too), Otto Kasino
Betsson - Betsson, Betsafe, NordicBet, Guts Casino, CasinoEuro, Rizk, Jalla Casino, StarCasino (Italy), Jackpot247, Kaboo
White Hat - 100+ skins
God damn you got me going muahaha love being right, i do.