Wager Mage
Wager Mage
Photo: Pavel Danilyuk
People who came to Las Vegas gambled an average of $717.51 in 2021 — about $126 more than in 2020, according to the Las Vegas visitor profile released last week. They spent an average of three hours a day gambling in casinos, and stayed an average of 3.6 days and 4.6 nights. About 75% of all visitors gambled.
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Read More »LAS VEGAS (KLAS) — In a year when casinos broke records for profits, a profile of the average Las Vegas visitor goes a long way toward explaining why. People who came to Las Vegas gambled an average of $717.51 in 2021 — about $126 more than in 2020, according to the Las Vegas visitor profile released last week. They spent an average of three hours a day gambling in casinos, and stayed an average of 3.6 days and 4.6 nights. About 75% of all visitors gambled. The larger amount reserved for gambling reflects “pent-up demand” — a phrase repeated by executives from all the major Las Vegas gaming companies during the pandemic. People were ready to come back to Las Vegas, and they had some money to burn. In addition to the gambling numbers, the visitor profile is chock full of insights into how people planned their trips, how much they spent, what they did while they were here, and how satisfied they were with the Vegas experience. It was the first update since the pandemic, with the Las Vegas Convention and Visitors Authority skipping the 2020 report. The pandemic “led to changes in both the behavior and composition of the Las Vegas visitor. Specifically, 2021 visitors were younger and more ethnically diverse, were more likely to be visiting from the Western United States and to be traveling with children,” according to the LVCVA. One section of the report shows 74% of people who booked a trip did it online or through an app. That’s a huge increase from previous years, when that number was typically around 52%. Trips were planned on shorter notice.
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Read More »Fibonacci retracement levels can be used across multiple timeframes, but are considered to be most accurate across longer timeframes. For example, a 38% retracement on a weekly chart is a more important technical level than a 38% retracement on a five-minute chart.
The golden ratio of 1.618 – the magic number – gets translated into three percentages: 23.6%, 38.2% and 61.8%. These are the three most popular percentages, although some traders will also look at the 50% and 76.4% levels. 50% is not a Fibonacci number, but has proved to be a generally popular number when correcting a primary or secondary price move. For now, we will focus on the 50% and the two more popular Fibonacci percentages of 38.2% and 61.8%. These are then applied to the chart to try and figure out potential hidden levels of support or resistance in the market. When the market drops back to 38.2% of its previous rise (the first major Fibonacci retracement), traders will check to see if any buyers come in. If this 38.2% level gets broken, then the expectation is for the 50% retracement to be the next target. If the market slides through that 50% retracement level, then traders will look to see if the market finally stops its decline when it has retraced 61.8% of the prior move. For most Fibonacci followers, if it breaks through that 61.8% level, it means that the market direction is going back to where it started. We can create Fibonacci retracements by taking a peak and trough (or two extreme points) on a chart and dividing the vertical distance by the above key Fibonacci ratios. Once these trading patterns are identified, horizontal lines can be drawn and then used to identify possible support and resistance levels.
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