Usually, casino goers look for an all-in-one package to include hotel, drink, food and entertainment. Casino junket covers everything and the expenses are collected ahead of time. Gamblers are required to play at a pre-determined volume. The concept is gradually gaining popularity as the payment is made upfront and one just enjoys the gambling trip to the fullest without worrying about many payments.
What is a Casino Junket?
The so-called casino junket operator and casino owners make a deal to get VIP gamblers. This means the junkets market the concept of upfront payment to wealthy gamblers. The packages are tailored based on the requirements like fine dining, bottle service, hotel suites and more. Sometimes, the junkets lend money to gamblers to gamble. The debts are collected if the gamblers lose the games.
The junket operator works on a commission basis. It gets commission from the casinos. The commission is in decent volume and worth the investments made.
Meeting Requirements to Avail Junket Package
Of course, the junket expects something in return from the entire trip of a gambler. Below are some basics to know about the qualification and as described in online-casinos.kz website:
The first and foremost step is paying an upfront deposit and it varies from client to client. If a client looks for top shelf-liquor as well as limousine transportation on the trip, he needs to pay more than others. Some junkets may ask as much as $10,000 as a deposit for top-tier suites, entertainment, transportation, drink and food. However, it is not necessary to spend huge on a gambling trip. Some may even settle down for a few thousand dollars.
Pre-Specified Gambling Volume
The junket looks for knowing the number of hours a client is looking to enjoy gambling on a daily basis. It may be around 4 or 5 hours a day. It is possible a gambler wins or does not. If he fails to win, he won’t pay anything thereafter. This is the reason the junket asks or a scheduled number of hours to be played a day.
Losing the Deposit
The junket always hopes a client loses the deposit through gambling. They may more money from non-winning clients. The client doesn’t need to bother paying any more money after losing. However, some may choose to play more and this attracts wagering money separately. It is an additional payment than the initial deposit. The additional payment has no restrictions and one can play any game based on the stakes one is looking for.
Not Betting Enough
Junkets ensure risking enough. They offer a gentle reminder and this helps in wagering the right amount. If the reminders are ignored, the junkets may take away the entire deposit money.
Where Junkets Send Clients
The junkets usually send clients to Macau. They are mostly associated with Macau, which is a special gambling region and away from China’s mainland. Advertisements related to gambling are not allowed on the mainland. However, the junkets have offices on the mainland to deal with clients. It would be not wrong to say that China is the biggest junket industry in the world. Moreover, the junkets have fueled the rise of Macau.
However, it is not to forget that the junket businesses are run in several other countries across the world and clients are sent to various casino destinations including Malta, Italy and Greece.
Many gamblers have appreciated the idea of casino junkets. They believe it is a good idea that their entire trip is being taken care of by someone ahead of time. They least have to bother and spend time planning the trip. On the other hand, the junkets come to know the taste of clients and plan everything accordingly on behalf of the clients. Sometimes the junket uses their money into planning and cover the trip. They just require an initial deposit.
The junkets may sometime turn cheaper than arranging everything without their help. However, it depends on luck whether they turn up cheaper. If the casino games turn up winning games, the trip becomes cheaper. If not, the trip becomes expensive. However, the client may not lose more than the deposit amount.
Casino Junket Disadvantage
There are two sides to casino junkets. Even though time is saved in planning, junkets have disadvantages too. These businesses are running to make money from the gamblers. If one looks for gaming more than the assigned hours, additional money is to be paid. This is one of the greatest disadvantages as a casino is a luring place and one may not stop at the specified time period.
Moreover, freedom is limited if the trip is planned through junkets. Gamblers can only play for a pre-determined time each day. Many may not like the restrictions while enjoying the gambling trip.
With Junket or Without Junket
The choice is of course yours. The junkets are extremely popular in certain places and they seem highly appealing. Many like the concept of paying in advance and enjoying the trip without bothering for making payment. However, it is not to forget that junket trips have limitations and less freedom. Some may not like the restrictions like playing just 4 hours a day.
If time can be spent on planning the trip, sometimes a gambling tour can be planned at much cheaper expenses compared to the package provided by a junket.
A contract tour may be good for some and may not be good for others. It is an individual choice. Hence, the verdict may go wrong if one segment is appreciated. People having enough to lose may opt for junket while those willing to spend just a small amount on a gambling trip may find the junket package expensive. However, it cannot be denied that planning everything takes time. A busy man may not get enough time to plan the trip. A casino junket is good, therefore.
Similarly, the casino operators find junkets are good for them as they are able to bring wealthy gamblers. They have witnessed their businesses flourish by getting VIP gamblers. They find the junkets as their marketing agents.