Junket – trips offered to VIP members of a gambling venue. VIP players at casinos can also be called Junkets.
Junket Casino and Junket Travel
Only about one hundred years ago what was seen as a shameful, secret problem has taken a turn and is now viewed as a skillful hobby. Everyday gambling is becoming more socially accepted, so much so that professional gamblers are using their experience and success as their ticket to VIP-style travel around the world.
Check out this video from the Wall Street Journal to see how a VIP junket looks like:
What is Junket?
Invented in Las Vegas in the 1950s, Casino Junkets, ¨Junkets¨ for short, were aimed at attracting players to certain gambling establishments. Upon gaining their loyalty and their word to continue playing in specific casinos, the players would receive incentives in return, such as all-expenses-paid international trips, stays at 5-star hotels, and exclusive, top-tier gambling experiences. Such an all-inclusive service for the gamblers got the name ‘junket travel.’
Another way of looking at the junket definition is to imagine a scout-recruit dynamic. The scout searches for potential players for his team, and the recruit proves his/her worth. If the scout is pleased, the recruit comes to the team and plays to the best of his abilities in return for money or other benefits. The same principle is applied to the casino junket-gambler duo, except on a bigger, more luxurious scale.
How does the system work?
The three main parties to keep in mind here are the casinos, casino junkets, and the gamblers. Each party is interconnected with each other; here´s how it works:
- Agents from VIP Casino Junkets hold the responsibility of recruiting only the best experts to gamble, mostly based on their strategy and winnings.
- Once found, the players are enticed by agents to partner with their company by offering deluxe trips around the world, playing in the finest clubhouses, all for the price of giving the Casino Junkets a commission of the money won during the games.
- Junkets partner with globally recognized gambling saloons, offering their newly scouted players to gamble there for hours, promising a revenue for these gambling businesses.
Where are gamblers usually taken?
These trips are mostly undertaken to Malta and Montenegro, but as the business expands and clients seek more unique destinations, some tours are organized to Greece, Cyprus, and Croatia, just to name a few. There are talks about offering travels to Georgia and other places. Destinations depend on price of airfares.
Besides an agreement to take part in such casino games as Blackjack, Baccarat, Roulette, and Poker, gamblers traveling on a junket principle have free time in the morning or at night, which they may spend on entertainment and fine dining.
How to differentiate casino junket from usual junkets?
Now that the concept of casino junket is well-explained, it’s necessary to define junket in a traditional sense of the word. It´s a term with several definitions. One explanation is that of a promotional trip made at another person´s expense. Another meaning is a trip made by an official at public cost. However, don´t get confused! Both these definitions sound like casino junkets, but the funds are not provided by the company; the recruited travelers make the initial deposit.