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Earlier this week I was in Goa and on the flight back, 2 people next to me were talking about losing ₹7.5 lakhs at casinos. They said this was actually their 'best trip' - they'd lost more before. Made me curious about how much money actually flows through Goa's casino industry⤵️ Only 6 offshore casino licenses exist in Goa. Entry fees across all casinos range from ₹1,500 to ₹6,000 depending on packages. This artificial scarcity creates an oligopoly: a). Delta Corp (3 licenses):→ Deltin Royale, Deltin JAQK, Kings Casino, Combined gaming revenue: ₹670+ crore, b). Pride Group (2 licenses):→ Casino Pride: Legacy operator since 2008, no revenue numbers c). Independent operators (1 license):→ Big Daddy Casino, no revenue numbers Plus 18 onshore casinos (land-based, electronic gaming only): Majestic Pride, Others→ integrated with luxury hotels Deltin Royale leads the market: 970 gaming positions across 65,000 sq ft. Big Daddy: 1,100+ positions. Average revenue per gaming position: ₹3-5 lakh annually. The government makes serious money from this industry. Each offshore operator pays ₹6.5 crore annually just for their license. Overall, Casinos paid ₹604 Cr in various fees to the Goa government last year alone. Over the past 5 years, total government collections hit ₹1,661 Cr. The casino economics are straightforward: a). Games are designed with built-in house edges - slots typically run 2-15%, table games like blackjack run 0.5-5% (Ensures consistent profitability regardless of individual player outcomes ). b). Casinos also pay 28% GST on their gross gaming revenue to the government. Despite these taxes and fees, established operators maintain EBITDA margins of 25-35%. The math works because the house edge guarantees long-term profits, while the limited licensing creates high barriers to entry. Casinos run 24/7 year-round, employing 15,000+ people. Peak season is Oct–Mar, with little monsoon impact. But pressures loom: offshore casinos must move by 2027, GST may rise from 28% to 40%, and few operators owe ₹352 crore. ⏭️Math doesn't care about your luck.