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Just How Rigged Is The Casino: An Average Week On The Las Vegas Strip

Tyler Durden's picture




 

The debate over just how rigged algos have made the market may be raging, but when it comes to riggedness, there is no debate that nothing beats Las Vegas where in the long (and not so long) run the house always wins. But how much does it win, and what games provide the house with the biggest profit? The following two charts answer these pertinent questions for anyone who may be planning a trip to the city of Lost Wages.

As Vizual Statistix explains, for those who want to stay away from the most rigged games, your best bet is the $100 slot machines, where the casinos take "only" 3.6% of your money. And those concerned about the magnitude of money lost rather than the percentage, you may want to move over to the penny slots, where you’ll still lose only 11.8%.

For the sports-betting fans, betting on baseball gives slightly better odds than basketball and football. One is much less likely to lose money betting on those sports than on racing.

For the tables fans, bingo is the game-o as here the house only takes in 8.8% of the wagers there, followed by blackjack (11.1%). Most punishing by far is 3-card poker, where gamblers lose an average of 32.5% of their money.

 

 

And keeping the rigged stock market analogy, there is liquidity and then there is churn. The chart below shows in which games casinos would prefer you gamble: sorted by revenues for the house, the most lucrative by far is Baccarat (thank you habitual Chinese gamblers), where the casino revenue is the biggest amounting to nearly $30 million on average per week. Blackjack fans who can never catch a break may be surprised to learn that their favorite game is in fourth position generating "only" $15.5 million of the revenue, below such honeypots as penny slots, which bring in on average a whopping $20 million weekly.

 

 

However, one thing the charts above certainly do not capture is the fun factor: because at the end of the day if given the choice of losing one's money in a rigged Las Vegas, or in the just as rigged stock market, it should be absolutely no contest.

Source: Nevada Gaming Board

 

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Fri, 05/09/2014 - 11:43 | 4743567 Amish Hacker
Amish Hacker's picture

My investment advice: play the penny slots while you drink for free.

Fri, 05/09/2014 - 11:52 | 4743610 Apathetic or Wh...
Apathetic or Whatever's picture

I spent half my money on gambling, alcohol, and wild women.  The other half I wasted.

 

WC Field

Fri, 05/09/2014 - 12:03 | 4743657 Troll Magnet
Troll Magnet's picture

There are casinos in Vegas? I thought it was just full of bunny ranches?
Huh. Learn something new everyday I guess.

Fri, 05/09/2014 - 13:02 | 4743885 Fish Gone Bad
Fish Gone Bad's picture

What happens in Vegas, stays in Vegas.  Unless of course it comes home with you.  In that case, go see your doctor and he will give you a shot for it.

Fri, 05/09/2014 - 13:13 | 4743948 crazybob369
crazybob369's picture

What happens in Vegas, stays in Vegas; especially your money.

Fri, 05/09/2014 - 13:22 | 4743994 Phuk u
Phuk u's picture

A Room service waiter walks into a penthouse suite and finds empty champagne bottles,

wads of money lying on the bed and Miss World (Mary Stavin) going into the bathroom

and asks George Best 'Where did it all go wrong Georgie' ?

Fri, 05/09/2014 - 13:48 | 4744105 negative rates
negative rates's picture

But the list goes on and on.

Fri, 05/09/2014 - 11:56 | 4743632 mayhem_korner
mayhem_korner's picture

play the penny slots while you drink for free.

 

The frequency with which the cocktail waitresses pass through the penny slot arcade is not the same as at the craps table.  Just sayin...

Fri, 05/09/2014 - 12:03 | 4743660 saltedGold
saltedGold's picture

Tip the waitress $5 for your "free drink" and see what kind of service you get :)

Fri, 05/09/2014 - 12:18 | 4743705 buzzsaw99
buzzsaw99's picture

better make that $20. did that $5 thing at mgm, never saw her again.

the service sucked so bad EVERYWHERE on the strip last time i was there. i'll never go back and even if i do i'll bring my own liquor.

Fri, 05/09/2014 - 12:22 | 4743719 DaveyJones
DaveyJones's picture

speaking of plastic money, prostitutes and backrooms -

Book Review: The Gold Cartel by Dimitri Speck

May 6, 2014 | Author
Fri, 05/09/2014 - 12:29 | 4743739 redpill
redpill's picture

Bringing one's own liquor for a few primer cocktails in your room is not a bad idea.  Makes the wait for your first one down stairs a lot more pleasant.  If you play video poker you can find a bar with the machine in the bar itself, you get drinks a lot faster that way since there's a bartender in front of you, and if you take care of them they take care of you.  Frankly I don't think it's worth staying on the Strip anymore, as you note the service is not what it used to be, and the odds have never been worse.  

Fri, 05/09/2014 - 13:11 | 4743939 crazybob369
crazybob369's picture

Couldn't agree with you more Red.  Was in Laughlin recently and after dinner I parked my butt at the bar in one of the lounges at the Aquarius and I had a drink in front of me before I had even played my first hand.  The machines had a great payoff schedule, the bartender was a sweetheart (they're not suppose to give you more than one drink every half hour, but she managed to slip me one every 20 minutes or so).  After a couple of hours I left her a $20 tip and walked (wobbled) away with a couple of hundred dollars in winnings.  Laughlin may be kind of boring, but for gambling it beats the hell out of the Vegas strip.

I heard somewhere that Caesars Entertainment took on so much debt to acquire all their properties that they are bleeding red like a stuck pig.  Probably only a matter of time before they default.  So instead of cutting back, they are screwing their patrons by tightening up all the games, and building a monster wheel, which no one is going to ride after the novelty wears off.  Sounds like a government operation to me.

Fri, 05/09/2014 - 15:57 | 4744635 fockewulf190
Fri, 05/09/2014 - 16:37 | 4744767 J in Vegas
J in Vegas's picture

As a bartender for the said company above, they are hurting for cash. But the machines are set all the same throughout all of their casino's. I bartend at one so I only know the video poker machines, but all of them are set at 94 to 97% payback. The problem is most players are stupid or (drunk) and play wrong. The high roller wheel is alright, the LINQ below is much better with pretty cool bars and such.

And please.... Tips really stands for Tips Insure Prompt Service. The best tip is infront of the service. Its a gamble cuz some bartenders are lame, but the overall service is usually better when we know what sort of person we are dealing with.

If any of zero hedge is in Vegas during the graveyard hours of 2am to 10am Wed thru Sunday, find me at.......

J in Vegas

Fri, 05/09/2014 - 21:02 | 4745351 crazybob369
crazybob369's picture

I'll be there this week to attend the money show J.  Which casino, I'll look you up.

Sat, 05/10/2014 - 04:28 | 4745743 Gold Eyed Cat
Gold Eyed Cat's picture

I held a video poker owner/operators license in Louisiana for a few years before they towed all the casino boats in.  We ran 33 machines in 11 locations.  Good times!  In case anyone is interested on how those 98% payout numbers really work, here's the lowdown.  When you place your bet that money is considered a loss.  So a push (free spin) is counted as a 100% win.

Sat, 05/10/2014 - 16:31 | 4746712 MontgomeryScott
MontgomeryScott's picture

J's link was a WSJ article discussing the finances of THIS company:

http://www.caesarspalace.com/

I didn't know Money put shows on. I dunno, maybe strippers with dollar bills covering all the good places (instead of pasties and g-strings)?

Fri, 05/09/2014 - 13:23 | 4743941 DaveyJones
DaveyJones's picture

my family did some reunions there for a while. We could rent the cabana out at the pool with the fridge and my brother and I would go buy stuff offsight and sneak it in in backpacks. They finally figured it out when they noticed drunk guys and no bills.  

the freakiest trip was the one we had scheduled during 911. They rescheduled for us of course and we flew in the very first day the Feds let us. No one was there and every video monitor on the strip had the image of the american flag. The staff seemed depressed because there were no tips and they were cutting hours. It was like a bad Charleton Heston movie.

Bad analogy, Vegas is always a bad Charleton Heston movie

Fri, 05/09/2014 - 22:01 | 4745441 DESMO_RR
DESMO_RR's picture

I used to live out there and played A LOT of video poker. Never on the strip. Just the local places and the Station Casinos. When the economy started to cool off, the change in payouts was immediate!!!! Literally overnight it became impossible to win almost anything. I quit playing very quickly after that.

Fri, 05/09/2014 - 12:37 | 4743775 sleigher
sleigher's picture

I don't know about you guys but I play to win.  No drinking while playing...

 

https://www.youtube.com/watch?v=SbNFa6LOqPo

 

It works if you are patient and study the dealer.

Fri, 05/09/2014 - 12:50 | 4743828 MountainsRoam
MountainsRoam's picture

Since most of the big casinos in Vegas have destroyed what little odds in you favor you had on Blackjack, I am done with it.. instead of paying 3 to 2 for Blackjack, and changing over to 6 to 5, they have totally ruined it for me.. I am done with any casino that has gone to this payout.. My guess is there will be lots of bankrupt hotel/casinos in Vegas soon..

Sat, 05/10/2014 - 08:51 | 4745859 Stuck on Zero
Stuck on Zero's picture

Never gamble on the strip.  The odds are really bad.  Go off-strip to casinos that offer nothing but gambling.  The best odds are at the dollar slots.

The worst odds are at the slots in the airport.

 

 

Fri, 05/09/2014 - 12:55 | 4743839 Hippocratic Oaf
Hippocratic Oaf's picture

Went 2 weeks ago on Virgin points and free room at Caesars (thanks to AC gambling wife and mother that uses her card).

Basically broke even for 4 days of sin.

They only got us on room service.

All in all, one of our better trips.

 

and Vegas was packed, only a few tables were not in use. 

Fri, 05/09/2014 - 17:48 | 4744920 mkkby
mkkby's picture

Ever noticed how EVERYONE who goes there BREAKS EVEN?  Funny how that happens, yet they make enough to build those fantastic hotels and still profit in the billions.

Fri, 05/09/2014 - 18:27 | 4744991 mc225
mc225's picture

it could be that it's one thing to break even, and perhaps quite another to recoup the vig. at least in sports betting...   once, i lived there for a few months, and noticed that the locals aren't as gung ho to gamble as the tourists. it was quite something to see all of the tourists flooding the crosswalks downtown on a friday afternoon. anyway, get away from the tourist traps/strip and it's quite an interesting city.

 

Fri, 05/09/2014 - 21:13 | 4745372 August
August's picture

Vegas is a lot more fun when you wear a tux.

But then people expect you to act like a gentleman, more or less.

Fri, 05/09/2014 - 12:53 | 4743840 Lewshine
Lewshine's picture

Sleigher:

I was a dealer on the Strip back in the 80's. The hardest players to beat were the drunks and coke heads. The MIT card counters and self-proclaimed professional gambler I could bankrupt in three shuffles. Keep your advice and your day job son.

Fri, 05/09/2014 - 13:08 | 4743926 sleigher
sleigher's picture

All I am saying is the method in the video works.  Last june myself and my boss (out for a conference) were both up 1k.

 

You may be good at cards, but roulette takes patience and understanding.  Doesn't work on all tables or dealers.  I spend time finding the right place.

I am not your son.  Got it?

Fri, 05/09/2014 - 14:10 | 4743974 Ignatius
Ignatius's picture

Vegas wasn't built by winners.

Just sayin'

Fri, 05/09/2014 - 13:17 | 4743972 DaveyJones
DaveyJones's picture

that's not how DC works, why should vegas be different?

Fri, 05/09/2014 - 23:37 | 4745580 BustainMovealota
BustainMovealota's picture

Dude,  Look around... you're not going to win.

Fri, 05/09/2014 - 13:36 | 4744057 williambanzai7
williambanzai7's picture

Fri, 05/09/2014 - 14:50 | 4744348 JuliaS
JuliaS's picture

My friends go to casino's to eat. The food there is good and is essentially subsidized by all the regular visitors. If you don't play and don't mind the noise, they make a decent alternative to restaurants.

Fri, 05/09/2014 - 15:59 | 4744641 insanelysane
insanelysane's picture

Skimming trash barrels???

Fri, 05/09/2014 - 15:20 | 4744493 esum
esum's picture

better... pretend to play the penny slots and drink free

Sat, 05/10/2014 - 09:24 | 4745884 drendebe10
drendebe10's picture

Isnt that Joan Rivers standing there with the Hangover guys?

Fri, 05/09/2014 - 11:45 | 4743577 maskone909
maskone909's picture

no limit holdem ftw. just play big hands and your gaurunteed to take all the wayne newton fans money

Fri, 05/09/2014 - 12:33 | 4743711 CPL
CPL's picture

There is actually math all around on how a casino operates.  They would never open one if they didn't make sure the math works in their favour.  Even poker, which has it's own rigging behind it.  The math I do know comes from some online gambling sites that I've watched get built, roulette is probably the simplest way to break it down.  It goes like this:

The player's chances of winning in a casino game and the rate at which he wins or loses money depends on the game, the rules in effect for that game, and for some games his level of skill. The amount of money the player can expect to win or lose in the long run - if the bet is made over and over again - is called the player's wager expected value (EV), or expectation. When the player's wager expectation is negative, he will lose money in the long run. For a $5 bet on the color red in roulette, for example, the expectation is -$0.263. On the average the player will lose just over a quarter for each $5 bet on red.

When the wager expectation is viewed from the casino's perspective (i.e., the negative of the player's expectation) and expressed as a percentage, you have the house advantage. For the roulette example, the house advantage is 5.26% ($0.263 divided by $5). The formal calculation is as follows:

EV = (+5)(18/38) + (-5)(20/38) = -0.263
(House Advantage = 0.263/5 = 5.26%)

When this EV calculation is performed for a 1-unit amount, the negative of the resulting value is the house edge. Here are the calculations for bets on a single-number in double-zero and single-zero roulette.

Double-zero roulette (single number bet):
EV = (+35)(1/38) + (-1)(37/38) = -0.053
(House Advantage = 5.3%)

Single-zero roulette (single number bet):
EV = (+35)(1/37) + (-1)(36/37) = -0.027
(House Advantage = 2.7%)

To summarize: House advantage and theoretical win percentage are the same thing, hold percentage is win over drop, win percentage is win over handle, win percentage approaches the house advantage as the number of plays increases, and hold percentage is equivalent to win percentage for slots but not table games.

· Hold % = Win/Drop
· Win % (actual) = Win/Handle
· H.A. = Theoretical Win % = Limit(Actual Win %) = Limit(Win/Handle)
· Hold Percentage ¹ House Edge

Even with comps, which have a math formula to themselves. 

Earning Potential = Average Bet ´ Hours Played ´ Decisions per Hour ´ House Advantage

For example, suppose a baccarat player bets $500 per hand for 12 hours at 60 hands per hour. Using a house advantage of 1.2%, this player's worth to the casino is $4,320 (500 ´ 12 ´ 60 ´ .012). A player who bets $500 per spin for 12 hours in double-zero roulette at 60 spins per hour would be worth about $19,000 (500 ´ 12 ´ 60 ´ .053).

Regardless of the optics of winning.  The house always has the upper hand because they control the single most important variable.  The money supply available to the table.  The house wins because not because of skill or luck, the house has got more time, a bigger bankroll that it's customers and the age old gamblers dilemma to feed off of.

Fri, 05/09/2014 - 12:52 | 4743836 CPL
CPL's picture

BTW the math can also be used the other direction to give the player the advantage to un-game the system in the player's favour.  It's not cheating either, it's just leveraging math that the house is unaware of because they, like all corporate businesses, have indulged in poor business direction planning.  In a casino's case, they opted for more managers and directors when they should have been hiring more ground floor accountants, mathematicians and security personnel to close the holes in their business and money management processes.

http://www.reviewjournal.com/business/nevada-casinos-post-fifth-straight...

The corporate casino's btw are bleeding out like stuck pigs and for the first time ever posting losses.  Which spells out BIG trouble for anyone that runs an casino. 

Let's break down what a Casino really is.  A Casino isn't a gaming house, it's a bank

The games at the tables are just window dressing for what a casino really does.  Which is manage money for it's games that are always in the houses favour, as long as the house has money to loan the table/game.  When a casino loses money one quarter after another, and it's business is managing money.  It loses power to conduct it's business because a casino's business is supplying all those games with capital to take money from people using nifty math.

If anyone wants to know the magic formula, under the yellow pages there should be Universities and Services under Schools and Education, call the math department and obtain a PhD.  If you run a casino and are getting slaughtered, go hire people that come out of that department.  Simple as that.

Fri, 05/09/2014 - 13:04 | 4743896 buzzsaw99
buzzsaw99's picture

thanks for the link. the text and comments are interesting.

Fri, 05/09/2014 - 14:06 | 4744119 CPL
CPL's picture

No problem. 

The last time the Casino's shit the bed was in 2007 when the Feds secretly bailed them out courtesy of Bush and co with the some of the first TARP proceedings. 

Not the familia/mafia casino's though, they hung them out to dry and then bought them all out for pennies on the dollar in 2008.  Fastest corporate take over of a single market segment in recorded history.  Personally I'm surprised that their weren't more cement shoes fitted to CEO's, but the marketing and positioning was convincing enough to sneak it under the radar.

Bush and Co corporately owned Casino's, which today is the entire LV strip, thrived from the TARP and QE by laundering money through the stock market.  Today a single company owns every single one of them, the Disney media and entertainment conglomerate through business units in their down-line.  Every last one of the Bush and Co own a piece of that poisonous investment cheddar.

Oh well, math is a vicious bitch when ignoring the realities of how the math applies to a casino or any problem, eventually just end up stealing from one's own self after everyone else has been robbed.

Today though, state side casino's are bleeding to death.  Delaware has bailed their casino out with taxpayer money every quarter for three years.  How stupid is that?  The local state government takes real capital and throws taxpayer money into a casino for a payback (I know it's really fucking stupid).

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/06/19/delaware-is-b...

...As if a casino is a public function like roads, grabage collection, schools, hospitals, traffic light, cops, fire fighters, medical services and electricity.  However the state is too stupid and oblivious to the math that operates a casino.  Sort of like they've got no business being in the gambling business because they don't have a clue what they are doing.

Oh well, it all turns out as all gambling adventures do.  10 people pay 1 guy to win their money, same odds as successfully managing stocks.  What does that say about the legitimacy of a stock market, I'll leave that to the philosophers.  I think the motto though is let a fool and their money soon be parted because it's better to let a fool have their way to fully understand the problem.

Game on.

Fri, 05/09/2014 - 15:15 | 4744473 Clycntct
Clycntct's picture

Good stuff. Thanks for all the info.

Fri, 05/09/2014 - 18:31 | 4744996 CPL
CPL's picture

We all watched it happen during the Bush adminstration but most people were too busy and distracted chasing rising home value and getting 'rich' off of them.  Then they setup some poor stooge (Obama) to hang for it.  I think President Obama has done the best with what he's been given, considering the pig fucker before him handed over a shit sandwich.

Nobody was paying attention to it as it happened.  Oldest con in the book.  The three card monte/shell game and they stole the entire mafia's money management portfolio under the guise of a credit reset. 

So if you are a 'wiseguy', lost your house and flat ass broke with the rest of us since 2007...

Game on.

Fri, 05/09/2014 - 20:42 | 4745306 Yes_Questions
Yes_Questions's picture

 

 

conundrum:

 

Kennedy may have been killed by the mob, but some say it was Bush.

Bush broke the mob, mob kills Bush?

 

Gangsters!

 

hmmm

Fri, 05/09/2014 - 21:03 | 4745354 Handful of Dust
Handful of Dust's picture

I did not know that CPL so thanks.  I hope in my next life I'm a "Beal-ee" instead of the forced "Bail-or".

Bailing out miscreants really sucks..

Fri, 05/09/2014 - 18:23 | 4744980 mkkby
mkkby's picture

I call bullshit.  Look at this comment from the article. 

"The net loss came after the casinos paid expenses. The loss does not take into account deduction for federal income taxes and accounting for extraordinary expenses. Most of the losses statewide were on paper, reflecting expenses taken for financial restructurings in 2012."

In othere words, these are ACCOUNTING LOSSES, not CASH LOSSES.  I'll bet they are just gaming their taxes.  They make a lot of money, pay big bonuses and "expenses", then report a loss and pay no tax.  ZH readers should be smarter.

Fri, 05/09/2014 - 19:08 | 4745091 CPL
CPL's picture

Then you should remortgage your home to the tits and go whole hog.  Money talks, bullshit walks. 

Sat, 05/10/2014 - 01:50 | 4745689 Drifter
Drifter's picture

"They make a lot of money, pay big bonuses and "expenses", then report a loss and pay no tax. "

That's SOP for all business, from guys mowing lawns to biggest corps.  Something wage slaves can't do.  More than offsets "self employment tax" if done right.

Tax code is skewed in favor of business.  But only business owners know it.  You have to run a business a while to see it. 

It's why self-employed person can come out as well making 70k as wage slave making 100k.

Fri, 05/09/2014 - 23:47 | 4745591 BustainMovealota
BustainMovealota's picture

" They would never open one if they didn't make sure the math works in their favour."  -  Of course not.  You have to remember these folks have been in business for a long time.  They know exactly what they are doing and are experts at taking you money.  The dumbass that thinks " its just fun" is the exact individual they are trying to attract.  The true dumbass.

Fri, 05/09/2014 - 11:46 | 4743588 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

guy on left = photo bomber

Fri, 05/09/2014 - 11:52 | 4743613 Prisoners_dilemna
Prisoners_dilemna's picture

http://www.imdb.com/title/tt1119646/

photo from the movie "Hangover"

Fri, 05/09/2014 - 12:12 | 4743688 ptoemmes
ptoemmes's picture

Pre-tatoo.

Sat, 05/10/2014 - 02:33 | 4745708 kashey
kashey's picture

While in Ukraine US-backed neo-fascist government troops are killing unarmed protesters in Mariupol
http://t.co/nCYUns86xn

Fri, 05/09/2014 - 11:47 | 4743592 firstdivision
firstdivision's picture

How about doing an analysis on the crap for sale at Disneyworld and the weekly revenue generated. 

Fri, 05/09/2014 - 11:49 | 4743598 Smegley Wanxalot
Smegley Wanxalot's picture

Those dudes in the pic look like splendid chaps with whom one can enjoy a evening.  Certainly more high-brow than the average Vegas tourists.

Fri, 05/09/2014 - 11:50 | 4743607 Prisoners_dilemna
Prisoners_dilemna's picture

Awesome data and analysis.

This is why I love Zerohedge!

Fri, 05/09/2014 - 11:53 | 4743614 mayhem_korner
mayhem_korner's picture

 

 

Baccarat, craps and roulette are the cash cows here.  No surprise.  What's amazing is that those are pure chance games, where the loss distribution is on full display (poker is not pure chance, and slots are not transparent).  Which is why they serve "free" drinks at these voluntary tax establishments.

Fri, 05/09/2014 - 12:42 | 4743799 sleigher
Fri, 05/09/2014 - 11:55 | 4743629 charms9
charms9's picture

I'm a little surprised at the % rake on Craps, which features some of the lowest house edges in the casino (odds bets have zero edge and pass/don't pass have around 1.4%), but also some of the worst. People must really load up on those hard ways and hop bets.

Fri, 05/09/2014 - 12:00 | 4743651 mayhem_korner
mayhem_korner's picture

 

 

N.N. Talib - It is not the frequency with which you are right that counts, but the cumulative effect of your losses.

The psychology of craps is a "let it ride" game, in which high-value, single-play losses commonly follow a series of lower-value wins.

Fri, 05/09/2014 - 12:06 | 4743669 thatthingcanfly
thatthingcanfly's picture

I was thinking the same thing. Used to play craps a lot; but because I took the hour to read up on the different bets and study their probabilities vs. payouts, I stuck to pass/don't pass with odds, come/don't come with odds, and sometimes Place the 6/8, at the lowest min bet tables. Did better than break even.

But no matter where I played, Vegas, Tunica, Prague, or Shreveport, I seemed to be one of the few at the table who played that way. Lots of Field bettors, get-rich-quick hardways, and Place bets on the 5/9 and 4/10. I suppose that's reflected in the above chart.

Fri, 05/09/2014 - 18:54 | 4745058 mc225
mc225's picture

in craps at certain washington state casinos (muckleshoot), they have those various 'doubles' diagrams, and the best payout is 30:1 for 6s. but for instance they might have 4s at 10:1, 3s at 15:1, etc. ...all lower, and some far lower; than the 36:1 which each of the doubles really is.

it's mind-boggling that so many people can look at that and not notice the disparity.

 

Sat, 05/10/2014 - 09:36 | 4745895 drendebe10
drendebe10's picture

How is living in communist Washington state?

Fri, 05/09/2014 - 12:32 | 4743745 Alberich
Alberich's picture

That's the irony, you can play at high-odds tables and get very nearly 50/50 playing pass/don't pass with craps. But you never see anybody playing that way. Behavior at the craps table is a vivid catalog of cognitive biases.

Gambling is good for one thing: training equanimity. But why not do it with a portion of your brokerage account for some real drama?

Fri, 05/09/2014 - 16:04 | 4744660 insanelysane
insanelysane's picture

A few years ago in vegas with 10 couples.  People spread out everywhere.  One guy in our group is playing conservative craps and had built up a few hundred in chips.  Drunk guys in our group show up to help and start having him bet all the hard-ways.  Guy was tapped out in 15 minutes.

Fri, 05/09/2014 - 12:45 | 4743809 Rubbish
Rubbish's picture

Play the "Don't" Jimmy the Greek did fair over his career tossing money at the casino's.

 

Get past the come out roll and you have the house advantage. Stay away from women rollers and virgins.

Fri, 05/09/2014 - 14:44 | 4744331 Amish Hacker
Amish Hacker's picture

It's tempting to think that, but the odds on the Pass/Come bets are exactly the same as the odds on the Don't Pass/Don't Come. Also, your odds of winning---or losing--- don't change after the come out roll.

Fri, 05/09/2014 - 15:42 | 4744581 charms9
charms9's picture

Indeed they are the same. A friend came up with what is my preferred dice methodology which is to Don't Pass for the minimum, laying as much odds as you can stand (in Miss and New Orleans the standard is 20x max), and continue to repeat on the Don't Come until the shooter pops you for a number at which point you cease. When the seven comes you get a nice big stack sent back to you. But sometimes the bum picks you off one-by-one over the course of 20 minutes, rolling hard 6s the whole time and you're miserable. But usually you're the only one winning when the table goes cold and it empties quickly, or at least angry looks from those that stay.

Several years ago, I was cleaning up while playing the don'ts at the Ameristar in St. Louis, and this chick walks up to me. "Whatever you're doing, could you stop? My boyfriend is losing and he stopped buying me drinks." (St Louis had laws on the books where alcohol could not be given away to players).

Fri, 05/09/2014 - 15:16 | 4744478 vato poco
vato poco's picture

I do make more money playing 'don't' than pass line. Always easier to find a cold table than a hot one, yes? The only problem with don't is 99% of the other players will make scowly faces at you and pout, 'cause you're "messing with the karma, dude!"

Fuck 'em. A table that consistently goes point-7 is a gold mine in disguise.

Sat, 05/10/2014 - 11:35 | 4746055 Jugdish
Jugdish's picture

Ya I ususally go double over under 7's then re ante up 8.6 double over cross on 9 back 3. I avoid the 5 by 6 and stick to the 7 by 8's on red. It's all just a sick sick winning recipe for success. That's why I'm such a baller when I go to Vegas and eveyone knows me and shakes my dick an is like wow man you must go to MIT.

Fri, 05/09/2014 - 12:16 | 4743702 insanelysane
insanelysane's picture

Sports Parley players always have a system.

Fri, 05/09/2014 - 12:35 | 4743765 mayhem_korner
mayhem_korner's picture

 

 

By the charts, their systems ain't so good.

Fri, 05/09/2014 - 12:17 | 4743706 lasvegaspersona
lasvegaspersona's picture

If you are smart you won't play....but your mother told you that, you don't need me....you probably should not gamble in Vegas either...

Fri, 05/09/2014 - 13:17 | 4743943 Emergency Ward
Emergency Ward's picture

While a youngster in the mid-fifties, my poppy took the family on a plane trip to Vegas.  Upon arrival in the airport terminal, my little brother and I ran over to the nearest slot machines and started stuffing them with dimes (on tiptoes and arms stretched) and pulling the levers.  We were dumbfounded when some uniformed creep came over and returned us to our parents explaining that underage gambling was not permitted......we did manage to sneak a few more attempts at the hotel before they stopped us again.

Winning wasn't important, it was the sight and sound and pulling the lever on the one-armed bandit.....

Fri, 05/09/2014 - 13:42 | 4744081 Cthonic
Cthonic's picture

Sad thing is, if you go to a video arcade or pizza parlour in anytown usa today, you'll find the barely disguised equivalent of slots for kids cranking out tickets for 'wins', exchangeable for only the finest plastic trinkets of course. 

Sat, 05/10/2014 - 09:41 | 4745899 drendebe10
drendebe10's picture

Made in China of course.

Fri, 05/09/2014 - 12:18 | 4743708 vote_libertaria...
vote_libertarian_party's picture

Why isn't video poker on the list?  Thats my game.

 

And yes, a $5 tip for the waitresses makes you a friend for life.

Fri, 05/09/2014 - 12:52 | 4743837 crazybob369
crazybob369's picture

Who comes up with this crap?  First off, as you correctly point out, where is video poker?  A 9/6 JB machine played correctly acctually brings the house % to less than 0.  Blackjack played correctly with a single or double deck can actually be beaten.  Although craps is still in the house's favor, it offers one of very few bets that pays true odds (pass line and come line odds).  And Keno the lowest house rake, really?  The house has as much as a 25-30% advantage in that game.  What a bunch of crock.

Fri, 05/09/2014 - 13:33 | 4744043 Cthonic
Cthonic's picture

There's a certain lack of clarity to Seth's charts.  Video poker is found under the 'multi-denomination' category.

Fri, 05/09/2014 - 12:29 | 4743740 directaction
directaction's picture

Gambling is a way to extract money from those poor at mathematics.

Fri, 05/09/2014 - 12:45 | 4743811 Flux
Flux's picture

It's a stupid tax, not unlike the lotto.

However, it should be mentioned that the father of card-counting is also the father of quants... none other than Ed Thorpe.

Fri, 05/09/2014 - 13:15 | 4743957 withglee
withglee's picture

Have you ever noticed how the government likes to protect us. Take tobacco. They don't ban it. And they don't allow it to be freely traded. Rather, they tax it. Take alcohol. They don't ban it (well, some governments try). And they don't allow it to be freely traded. Rather, they tax it. Take Marijuana. For a while they ban it until the black market gets huge. Then, instead of allowing it, they tax it. Take the lottery. They ban it. Then they restrict it to government only. They rake 50% off the top. Then they tax your winnings.

Without all this government protection, how much worse off would we be?

Sat, 05/10/2014 - 09:43 | 4745901 drendebe10
drendebe10's picture

Gummunt: ctrl-alt-del

Sat, 05/10/2014 - 13:19 | 4746224 withglee
withglee's picture

Actually just del is looking like a pretty good strategy.

Fri, 05/09/2014 - 14:08 | 4744184 Der Wille Zur Macht
Der Wille Zur Macht's picture

Tell that to Claude Shannon and Edward Thorpe.

Fri, 05/09/2014 - 18:03 | 4744951 John_Coltrane
John_Coltrane's picture

But we can thank Blaise Pascal's and Benouilli's interest in gambling for modern probability theory and combinatorial analysis.

The secret to beating the long term odds to to play with pre-determined stop loss and stop gains.    Then, the likihood of getting a finite number of heads or reds (roulette) aren't really small.  You just have to know when to walk away.  And most humans don't.  This is the real secret of the casino odds.

Fri, 05/09/2014 - 18:55 | 4745063 Sabibaby
Sabibaby's picture

 "Gambling is a way to extract money from those poor at mathematics."

If that's the case why do so many maths experts go broke in Vegas? 

Fri, 05/09/2014 - 19:54 | 4745193 directaction
directaction's picture

Prolly not quite the math experts they thought they were. 

Sat, 05/10/2014 - 11:36 | 4746059 BeetleBailey
BeetleBailey's picture
"They are what we thought they were, and we let them off the hook!"

Denny Green at his finest

https://www.youtube.com/watch?v=SWmQbk5h86w

Fri, 05/09/2014 - 12:35 | 4743763 Jack Burton
Jack Burton's picture

I have too many friends and relatives who love Vegas and come home the poorer for it. But the argument is that they do it for entertainment and that my trip to England to walk the coastal paths, see London or go to a Chelsea football match is the same thing. I do get entertained, but don't come home richer. So I guess I get their point on that. Sadly I know one couple who go there for serious gambling, and lose serious money. In their case, they lose money that puts their economic life in danger. So, I ask them why they gamble when the more they gamble the more they are going to lose because the games are rigged. They can't answer that one.

Fri, 05/09/2014 - 13:33 | 4744042 Cacete de Ouro
Cacete de Ouro's picture

Sounds like some of your friends are gambling addicts. Maybe they need help for their addiction, I'm serious.

Fri, 05/09/2014 - 15:53 | 4744611 knukles
knukles's picture

There is Gamblers Anonymous....

If it's debilitating and the answer is that they cannot tell you why, then they're probably deep in trouible.
But only they can determine that ...

Fri, 05/09/2014 - 14:05 | 4744170 Inthemix96
Inthemix96's picture

Jack my friend, Trade Secret given for nowt.

The next time you visit England, pay a visit to Bamburgh Castle and surrounding area of the pristine NE coast line, and while there pop down to Seahouses and indulge in a 'Craster Kipper'.

Once tasted, you may never want to leave mind, and if stuck for accomodation, give me a buzz, al put you up for nowt mate.

If I dont say so myself, Englands fucking finest.

:-)

Fri, 05/09/2014 - 14:40 | 4744295 medium giraffe
medium giraffe's picture

Eldon Garden beautiful this time of year...

Fri, 05/09/2014 - 15:06 | 4744440 Inthemix96
Inthemix96's picture

Indeed it is my friend.

;-)

Very fucking good medium giraffe, very good indeed.

I take it your from these parts friend?

;-)

Fri, 05/09/2014 - 19:31 | 4745146 medium giraffe
medium giraffe's picture

Lol :) Family up that way, know the NE well.  With you on Bamburgh, stunning place - some form of fortification or other has stood there since around 500.  Always take the time to visit Alnwick now and then, or out to Hexham & Corbridge.    

Love the Geordies too, who else grazes cows in a City?

 

Fri, 05/09/2014 - 23:08 | 4745536 Jack Burton
Jack Burton's picture

Will do! NE coast is one I have not done yet.

Fri, 05/09/2014 - 12:43 | 4743800 Atlantis Consigliore
Atlantis Consigliore's picture

I win every time:  shows,  low price suite at the Encore;  high end dinners every night, champagne, Pool, sauna, 

no Buffets,  limo, and out  out without a hand played,....A WINNER EVERY TIME....

Fri, 05/09/2014 - 12:43 | 4743801 AntiMort
AntiMort's picture

It would be funny to compare the % house money won to the % winning trading days firms like goldman have.  

Fri, 05/09/2014 - 13:12 | 4743803 Rainman
Rainman's picture

yes, yes .... gambling is a tax on the ignorant . But how else can you find out if you're walking around with a lucky horseshoe up your ass without betting ??

Fri, 05/09/2014 - 12:49 | 4743822 Sweet Chicken
Sweet Chicken's picture

Laugh all you want but WAR has the best odds of winning in all of Vegas. The only advantage the house has is when you go to war you have to double your bet but they only pay out on the original but of course take all of it when you lose. This game has paid for my last four trips to Vegas. 

Fri, 05/09/2014 - 12:51 | 4743829 fencejumper
fencejumper's picture

If one plays craps intelligently - with a thorough knowledge of the odds vs. actual payout when hit - one can reduce the houses advantage to around 1%. This means staying away from the mid-table "sucker" bets most of the time. One must also be ready to bet the "don't" as easily as the "do" when dice turn cold, or be ready to walk away when too directionless, or choppy.

Fri, 05/09/2014 - 12:55 | 4743844 Sweet Chicken
Sweet Chicken's picture

This is very accurrate. Betting the 'don't pass' is difficult because craps is such a passionate "in the moment" type of game. Also betting 'don't pass' can draw unwanted negative attention from other patrons which feel you are somehow on the house's side for betting this way. 

Fri, 05/09/2014 - 18:33 | 4745007 mkkby
mkkby's picture

Just the fact that you think dice go hot or cold proves you don't understand math.  You are just a sucker, who is a little less than the other sheep.  You will lose you whole wad if you play long enough.  Go ahead, argue with that.

Sat, 05/10/2014 - 01:31 | 4745679 fencejumper
fencejumper's picture

I have been playing for about 30 yrs and am net positive. If you've never seen a table go cold you obviously are a true greenhorn.

Fri, 05/09/2014 - 12:51 | 4743830 Commodore64
Fri, 05/09/2014 - 12:55 | 4743848 Emergency Ward
Emergency Ward's picture

Quarter-slot jackpots notwithstanding, nothing beats the euphoria of AAPL's 7-for-1 stock split and the sense of wealth enhancement that it brings.

Fri, 05/09/2014 - 13:13 | 4743947 kchrisc
kchrisc's picture

However the casinos are using nefarious tricks and fascist laws more and more to stem their losses.

Someone wins on a slot-machine, and they claim that the machine "malfunctioned," or was in "maintenance." That got so bad in NW Indiana that the local propaganda media actually felt compelled to run a series on it. Of course nothing changed and the casinos still do it.

Then there is "cheating" and card-counting which the casinos use as cover to deny a legit win. They accuse you of the crime of cheating, deny you your win, and say, "leave or we'll have you arrested, and either way, 'sue us'," Heads they win, tails you lose.

I am glad I don't gamble, just for the fact that I don't have to set foot in any of those fascist edifices.

Fri, 05/09/2014 - 13:54 | 4744129 Conax
Conax's picture

+1

At the old, 1983 vintage fleabag "Silver Nugget" in Vegas I was escorted out for winning at craps.

They said I was bothering the dealer. She looked at me as they escorted me out like, 'Sorry, bub'.

I won $460 in about a half hour.

What a crooked dump it was. The gorilla they sent out was built like a 7 foot high refrigerator. He just said, 'Time for you to leave', so I left.

Fri, 05/09/2014 - 19:21 | 4745130 resurger
resurger's picture

God doesn't want you to have filthy money. No regrets if I were you!

Fri, 05/09/2014 - 14:06 | 4743991 medium giraffe
medium giraffe's picture

At least you can get some hard probabilistic data at Vegas FFS!

Fri, 05/09/2014 - 13:29 | 4744018 Cacete de Ouro
Cacete de Ouro's picture

The Tylers start with a few bets at the Boulevard tables, then maybe a drink at Bond, then they hit the High Limit Casino, before boogieing the night away at the Marquee Nightclub.

Am I right?

Fri, 05/09/2014 - 13:30 | 4744023 zipit
zipit's picture

I do not want to know the story of that pic of the bearded guy and gawkers.

Fri, 05/09/2014 - 13:35 | 4744053 Cacete de Ouro
Cacete de Ouro's picture

There is a whole movie about the beardy betting guy. In fact three movies. You're in for a treat.

Fri, 05/09/2014 - 13:30 | 4744026 Arrowshot
Arrowshot's picture

I was watching an old Twilight Zone segment the other week and it had a guy that got addicted to a slot machine that ended up taking all his money, home and eventually his life (suicide) and then it started in on his wife. The great thing about that one show was that the slot machines was fed and paid off with real silver dollars. Tend to doubt they have any that still do.

Fri, 05/09/2014 - 13:34 | 4744050 walküre
walküre's picture

Odds are better in Vegas than on Wall Street and the entertainment is Grade-Fucking-A

Also the weather is better there. Once you understand that the same algos that are rigging your bets in Vegas are working also on Wall Street, it's an easy decision to make where you want to burn your cash. Hey, you might even win a little bit back.

Does your easy trade terminal have two long legs with skimpy skirts serving you drinks all day? NO, didn't think so. What are you waiting for?

Fri, 05/09/2014 - 13:41 | 4744071 Conax
Conax's picture

I found I could do no worse than breaking even at blackjack by two easy rules: 'Never Bust Yourself' and 'Never split or double down'.  You don't win big but you drink all night for free, as long as you don't get greedy and bet stupidly.

Then I figured out a system where I usually do well at craps- I never touch the dice, play the field and keep an eye out for those dumb luck types having a good shoot, bet with them for 2 or 3 passes, then turn on them.

My system for playing the field wins more than it loses and is therefore classified info... You'll never get it out o' me..

Fri, 05/09/2014 - 13:51 | 4744118 negative rates
negative rates's picture

And you never won any money either.

Fri, 05/09/2014 - 15:30 | 4744531 Conax
Conax's picture

Debbie! Is that you?

You sound just like my ex-wife.

Fri, 05/09/2014 - 15:57 | 4744637 Dull Care
Dull Care's picture

As a dealer I can tell you the 'Never bust' system is a sure fire loser. You're much better off hitting and playing close to the book.

 

The only departure from standard play is that I don't think it's smart to hit soft 17 against a 4,5, or 6. I'm aware the math says differently but from watching I've seen it backfire way more than it benefitted the player.

Fri, 05/09/2014 - 13:50 | 4744110 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Back when casinos had slots that used real US halves, I used to clean 'em out of silver halves, mainly Kennedys but the occasional Franklin.....

Fri, 05/09/2014 - 14:04 | 4744159 Der Wille Zur Macht
Der Wille Zur Macht's picture

Personally, I enjoy sports betting the most.

No other game in the casino allows a drunken DerWilleZurMacht to float in the pool or on a comfy leather chair, drink in hand, while watching the game on a big screen. 

Fri, 05/09/2014 - 19:10 | 4745101 mc225
mc225's picture

nfl lines are one of the 'ins' to winning money. often, a team is favored/underdogged all out of sync with reality. i won on 5 separate games on the buccaneers in '97, in big part because - week after week - the lines were out of whack.

the trick is, if you're winning a lot of money, someone might notice and it could be kiboshed.

that's the whole thing with casinos: whatever the game, if you're a winner you'd better do it invisibly.

and i actually do believe it goes beyond math; some people are born lucky. winning big at gambling without getting noticed is another thing altogether.

Fri, 05/09/2014 - 14:28 | 4744273 Atomizer
Atomizer's picture

When the fools stop showing up, the casino will ask for a Government bailout.

Fri, 05/09/2014 - 14:37 | 4744309 laomei
laomei's picture

Been to vegas, not impressed.  It's a city built on destroyed lives and it shows immediately if you dare to leave the strip.  As for the article, the house odds are way off, however, I assume that this takes into account the idiocy of the players.  It's so EASY to play blackjack and cut house odds to 0.5~1% with basic strategy.  Card counting is the next step, and you can turn odds to 0.5~1% in your favor operating solo.  You'll get kicked out doing it though, not because it's cheating, but because you're not suppossed to actually win.  Keep in mind, these percentages have little to do with actual money and are more about hands played.  Perfect basic without counting will still lose money.  With counting, you have a better idea of when to raise and when to lower your bets, and that's how you win.  

 

Video poker is a fool's game.  Keno will rob you blind.  Roulette is a scam.  You're best off with craps and blackjack if you have any brains in your head at all.  And obviously, don't drink.  And furthermore, don't even bother with vegas, it's an absolute shithole in every sense of the word.

Fri, 05/09/2014 - 15:04 | 4744429 walküre
walküre's picture

You don't sound Chinese to me... have you looked in the mirror lately? Hory Fuck you white!

Fri, 05/09/2014 - 15:17 | 4744481 laomei
laomei's picture

I'm an avid Majiang player though, mainly because it's actually a game of skill... luck involved, yes, but mostly skill.  I also tend to come out ahead.

Fri, 05/09/2014 - 14:39 | 4744312 Atomizer
Atomizer's picture

The guy on the far right may not know how to wear necktie or uses it to wipe his pissing dribbles.

http://gaming.nv.gov/index.aspx?page=149

Fri, 05/09/2014 - 14:45 | 4744335 Atomizer
Atomizer's picture

OCTOBER: This is one of the peculiarly dangerous months to speculate in stocks in. The other are July, January, September, April, November, May, March, June, December, August, and February

Mark Twain

Fri, 05/09/2014 - 15:03 | 4744427 RaceToTheBottom
RaceToTheBottom's picture

Those % are for slakers.

Which WS firms never had any losing days?

 

Fri, 05/09/2014 - 15:05 | 4744432 Ago Solvo
Ago Solvo's picture

Even roulette is rigged.  I went down there and had a surefire strategy to repeatedly make a profit.  Bet on odd/even, 1st half/2nd half, red/black.  Everytime you lose, if you bet red and it landed black for instance, double the bet on red next.  When you win, bet on the opposite of what you just bet, and start with the lowest bet, doubling everytime you lose, until you win.  I was actually racking in the doe, but then a pit boss came down.  Then it hit, the opposite of what I was betting, 9 times in a row.  I was betting 1st half, even, black, and it hit 9 numbers that were 2nd half, odd, and red.  The odds of this happening are in the billions to one, you're more likely to win the mega millions.  I might have passed it up as coincidence until it happened a second night in a row.  Pit boss comes down, and I believe it went 10 times in a row this time, after I had racked up a serious amount of money.

Fri, 05/09/2014 - 15:39 | 4744566 ozzzo
ozzzo's picture

The Martingale system has been a well-known loser since the dawn of gambling. If the martingale system worked, casinos would not be able to stay in business. Read up on probability and statistics.

Fri, 05/09/2014 - 18:41 | 4745027 kchrisc
kchrisc's picture

I think that his point was that it shouldn't have worked, but it did. i.e. rigged.

For me the pit boss part is the clincher, as why send over an intimidating pit boss to run him off if it could just be a run of luck instead of a defying run against the rigged wheel.

Another reason I would never go in one of these rigged fascist palaces to the dumb.

Fri, 05/09/2014 - 20:26 | 4745262 lotsoffun
lotsoffun's picture

i'm sure you ran up the odds.  my father was a degenerate gambler and it had an influence on me.

depending on how you think, the odd's of flipping a coin and getting heads or tails is 50/50.  and the odds of flipping a coin that has come up heads 1MM times in a row, on the next flip is 50/50.  it really is, or something like that.

but for me, the bottom line is, rigged or not - you were up 'nice'.  get out.  you didn't learn the lesson.

you can blame it on the odds, or the pit boss, but i'll tell you something i heard from childhood to adulthood from my father and all his gambling friends (none of whom ever where anything for their friends or family other than losers), 'these guys have a system, and i'm telling you, it never fails'.

right.

 

Fri, 05/09/2014 - 20:30 | 4745272 lotsoffun
lotsoffun's picture

related story and relevant today.  one of these clowns survived my father and amongst his wiser investments was acculumating HUGE amounts of scrap silver, good silverware and silver coins.  he spent all his retired life hitting garage sales, etc.   when silver hit 50, he asked my advice.  i said, well considering the run up, and the cost you paid, i'm not so certain it would go up further from here, but why not consider selling, maybe 50% and booking the actual profit?

talk to me.....  and i'm long PM's.

 

Sat, 05/10/2014 - 02:57 | 4745717 FreedomGuy
FreedomGuy's picture

I play roulette a good bit as I find it relaxing. It is pure odds. There are no strategies you can use for surefire wins. It is mathematically impossible. There are 38 numbers on the usual American roulette table and wheel. All payouts are based on 36. The difference is the house edge. You can get lucky which is the point of gambling. However, over time and in aggregate between all the players the house comes out on top.

For me and many others the most important factor in winning is knowing when to walk away. If you've had a good streak you need to know when to walk when it starts going cold. Easy to say and hard to do, even for me. Once you have been winning it is hard to accept losing. Winning is like a drug and you will spend a lot trying to get the high back.

Personally, I have given up on Vegas. I used to go fairly frequently but lately it seems no one is winning, most importantly, me. I like the slots and I used to always see winners a decade ago. I think the machines have been reprogrammed lower. I rarely see the guys with the clipboards and even the tables which are not programmed seem to be amazingly cold.

 It might be because of the tax reporting rules for anything over $1200 which is a real pain in the ass. It is one of those dumb ass forms that gets matched up by the IRS. Even though government knows gamblers lose on average they actually try to get a tax out of the net losses. I personally find it a big damper in the background of gambling. If only Nevada had an influential Congressman or Senator who explain how it works to the government and get them out of the picture...

What state is Harry Reid from, again?

Fri, 05/09/2014 - 15:09 | 4744451 CrazyCatLady
CrazyCatLady's picture

To all you fools who participate in such madness i will say dont underestimate the power of tipping your dealer.  My husband currently works full time as a casino dealer.  If you tip him, he will try to help you win.  If you are an ass, rude to fellow players, and dont tip, he will take your ass and not give it back.  Simple energy flow, but it makes all the difference in the world.

 

Btw, dealers make the server min wage from the casino, the rest is tips

Fri, 05/09/2014 - 15:19 | 4744489 Atomizer
Atomizer's picture

All of this bullshit reminds me of K street happy endings to pass unethical US Government legislation.

Fri, 05/09/2014 - 15:22 | 4744500 esum
esum's picture

ask ben aflack about the house always wins

Fri, 05/09/2014 - 16:02 | 4744582 Dull Care
Dull Care's picture

I'm a table games dealer for a casino in Arizona. My friendly advice. Despite the findings of this article your best bet to win is at 3 card poker. Always bet 3x as much on your ante and play bets than the pair plus. Punish the house when they don't qualify. Most people play like idiots and that's why they lose.

The real edge the house has at blackjack is that it's almost impossible for people to quit when things are going well and they're having a great time. Rushes absolutely do happen and it's strange how as a dealer you can sense how things are going to go at a given table.

Stay away from Let It Ride. If you want sit around and get wasted and win/lose a little then your game is Pai Gow.

Fri, 05/09/2014 - 21:21 | 4745393 Peter Pan
Peter Pan's picture

The only thing I can say from observing people is that the longer they play the more likely they are to lose.

Fri, 05/09/2014 - 17:20 | 4744856 Atlantis Consigliore
Atlantis Consigliore's picture

147,ooo strip rooms on line;  Genting Casino, brings on another 3000

150,000 supply;  good dynamics for cut rate $ 99 dollar deals in suites...

Fri, 05/09/2014 - 17:38 | 4744890 Cacete de Ouro
Cacete de Ouro's picture

Given that the Tylers posted an article about Las Vegas in the top slot on a Friday evening, I would say they are winging their way (plural) to Vegas as we speak.

I hope that the antics tonight and tomorrow night won't distract them from the important geo-political matters at hand, however, I fear that the number of new articles over the weekend (except for some generic already lined up stuff), will be very limited.

I look forward to some semblance of normality on Monday morning after the hangovers have subsided.

Fri, 05/09/2014 - 19:23 | 4745128 Cacete de Ouro
Cacete de Ouro's picture

Obviously everyone is in Vegas since no one even bothered commenting on my post. Or else I'm irrelevant.

I think I'll book a flight to Vegas post haste. Lat time I was in Vegas I escaped from a certain institution somewhere on the road from Scotsdale. And had three days to myself before I had to get back.

Took in a Blueman show in the Encore or Wynn (can't recall), before I had to rejoin my scheduled journey. Enjoyed a night in some place called the Library where my companion for the night wanted me to move out to Vegas and even invited me to a BBQ with her extended family the next day. They were cool.

It's a crazy place. Had a run in with some corrupt chinese in some far off Chinatown sports injury clinic road, just some chinese dive road. Best not to go there alone at night.

Fri, 05/09/2014 - 20:50 | 4745328 Aussiekiwi
Aussiekiwi's picture

I have a comment CAC...'lol'

Fri, 05/09/2014 - 19:13 | 4745113 razorthin
razorthin's picture

So I guess not Google Glasses with the the card-counting app are allowed.

Fri, 05/09/2014 - 20:53 | 4745330 barroter
barroter's picture

I suspect Las Vegas was more "fair" when the mafia ran it vs. the corps today.

 

Fri, 05/09/2014 - 21:06 | 4745357 Aussiekiwi
Aussiekiwi's picture

If you are ever standing in a Casino and look around at the size of the Casino, all the staff, the glittering lights and think wow, this must cost a bundle I wonder where all the money comes from every week to keep it going, just have a look in the mirror.

Do NOT follow this link or you will be banned from the site!