In real life, if something happens again and again, we assume it's going to keep happening, and almost always we're right. The sun came up in the morning two days ago, yesterday and today. We can be all but certain it will come up tomorrow.
In gambling, that's often not the case. In blackjack, we can hit 16 against the dealer's 10 and bust, and do it again and bust, and do it again and bust. Yet the right play, for a non-card counter, is to do it every time. In the long run, the player will come out very slightly ahead by always hitting the 16.
Why can't we learn from the experience of hitting the 16 and busting again and again? Basically because gambling is governed by the mathematics of random events, not by the laws of nature.
The first thing we must understand is the meaning of "random." Many people seem to think that random means scattered all over the place, without any pattern. Not necessarily. Random outcomes can include significant streaks or bunching of results.
So even though hitting the 16 will produce enough positive results to make it worthwhile, it can -- and will -- result in the player busting two, threee, four and more times consecutively. It seems to be stupid to continue such a futile move, but the mathematics of gambling asserts itself over thousands and thousands of trials, not over half a dozen hands of blackjack.
As a result of not understanding this principle, gamblers often try to get a different result by making changes that cannot affect the outcome of the game or can affect it only negatively.
An acqaintance of mine, a video poker player, does this by pulling or inserting her player's card when things are going bad, by swtiching games and/or denomination played, and by changing the number of coins she bets. (One time I saw her hit a royal on a less-than-full-coin bet, which cost her a lot of money and some embarrassment.)
Here's why these things don't work: The part of the machine that deals the cards doesn't know if a player's card is inserted or not. By not using your player's card every time you play on a machine, you're just denying yourself comps and other casino marketing benefits. Switching games or denominations isn't going to alter your long-term results. You should always play what for you is the best game available at the denomination that best fits your bankroll. Given the promotions available on a particular day, there is usually only one game and one denomination that will give a particular player the best long-term results. And, there is almost never a good reason to bet less than the maximum on video poker, because of the huge penalty on a royal hit with less than maximum coin. And again, the part of the machine that deals the cards has no idea how many coins have been bet.
Another way in which gambling differs from most other aspects of life is the relationship between effort and result. In gambling, practice and study do pay off, but only in a long run measured in months or years. An expert video poker player can lose session after session while a ploppie sitting next to him keeps hitting winning hands.
It's not hard to accept that gambling is subject to ups and downs in the short run, but the losing streaks can be lengthy and brutal. And there isn't a lot you can do about it, except to let time and the mathematics take their course.
If you've ever played golf, you might have experienced a similar level of futility.
Showing posts with label gambling. Show all posts
Showing posts with label gambling. Show all posts
Thursday, December 26, 2013
Monday, March 19, 2012
When it's good to be old (or at least middle-aged)
Seniors days have long been a staple of locals' casinos marketing, but now is a particularly good time to be 50 or older if you're a gambler who lives in the Las Vegas area. Casinos are competing as heavily as I've seen in my nearly 5 years here for the weekday business of older customers.
These programs differ in details but their staples have been slot tournaments, dining discounts, point multipliers and drawings. Different casinos' programs may be better for some players than others. Here's a brief summary of what's offered. Essential information is often available on signs in the casinos and details can be obtained at the players' clubs.
Sam's Town offers a complete program on Thursdays comprising a $3,500 slot tournament, a $3,000 drawing, 5 times points on video poker and 7 times points on reels, half-price buffet and a free variety show. Low rollers with time on their hands might find value in the slot tournament. The formula for determing the long-term value of (or your average win in) such promotions is the total of prizes divided by the number of entries. In this case it's likely to be less than $5. Another consideration for some is the time it takes to play in the tournament plus the amount of time spent waiting to play. For higher rollers, the point multipliers and drawings can offer more value. Sam's Town recently has added a scaled-down Monday seniors day to compete with the new offering of its neighbor, the Eastside Cannery.
The Eastside Cannery's program, which runs from 10 a.m. to 10 p.m. Mondays, is unusual in that the qualifying age is 55, not 50. Enrollment at the players' club is required. Benefits are a 3 times point multiplier, half-price dining at selected restaurants and, after 300 base points are earned, a card swipe with prizes from $10 in free play to $1,000 in cash. Play on machines in the Classic Slots room does not qualify for the point multiplier.
The Palms also recently added a seniors program, on Thursdays, which includes dining and movie discounts and promotions. At least for now there are slot tournaments and drawings.
Station Casinos, including the Fiestas, have a $3,000 slot tournament at each property and half-price dining with payment in points until 6 p.m. Signs indicated that, as a special for this month, the program also includes a bonus point day, bringing points earned from the usual 3 per $1 coin-in to 10 for reels and 6 for video poker. Let's hope this "special" becomes a regular part of the program, as a point multiplier used to be. And, Stations, how about bringing back the drawings you used to have?
The M Resort has a drawing for seniors at 6 p.m. Tuesdays. The unusual thing about it is that you do not need to play, or activate your tickets, on Tuesday, and you need not be present to win. Tickets can be earned any day of the week and must be activated at a kiosk on the day earned. The winners' names are posted shortly after 6 and all prizes must be claimed at the satellite rewards center by 7 p.m.
The Silverton has two seniors drawings on Monday. Tickets must be earned that day but prizes can be picked up until 6 p.m. Tuesday. There are 50 winners in each drawing, and each winner gets a minimum of $50 and maximum of $500. A player may win twice each week, once in each drawing. Although the prizes are modest (expect $50 most of the time), it appears that this promotion offers an unusually good chance of winning something.
The Gold Coast recently cut the point multiplier on video poker for its Monday seniors day from 5 times to 4 times, but that's still a good deal given that casinos' inventory of strong games. Reel players get 10 times points. A maximum of 10,000 points on video poker and 100,000 points on reels are eligible for promotional multipliers at the Gold Coast. Seniors day there also includes a bingo special and a small video poker tournament.
The Orleans offers 7 times points and a card swipe after earning 50 base points, both from 7 a.m. to 7 p.m. Tuesdays. My prizes from the card swipe have included two dinner buffets, two ticket to Big Al's Comedy Club, 5,000 points and 10,000 points. The great things about this swipe are that, opposed to the slot tournaments and drawings at other casinos, almost no time is involved in participating and everyone wins something.
South Point this month added a $5,200 slot tournament for seniors from 10 a.m. to 4 p.m. Thursdays. This is a relative large prize pool and the tournament could be attractive to more players than those at Stations and Sam's Town, depending on how many people participate.
In addition to gambling- and dining-related promotions, some seniors days include movie ticket specials. Often the qualifying age for these is 60.
A few tips regarding casino seniors programs: As with any casino promotion, these may be altered or discontinued at any time. Most if not all require that you be enrolled in the program, not just that you have a players card and meet the age requirement. Many will put a small sticker on your players card showing that you qualify for discounts and other offers. Beware of time time limits and other restrictions on promotions. This information should be available at the players club.
These programs differ in details but their staples have been slot tournaments, dining discounts, point multipliers and drawings. Different casinos' programs may be better for some players than others. Here's a brief summary of what's offered. Essential information is often available on signs in the casinos and details can be obtained at the players' clubs.
Sam's Town offers a complete program on Thursdays comprising a $3,500 slot tournament, a $3,000 drawing, 5 times points on video poker and 7 times points on reels, half-price buffet and a free variety show. Low rollers with time on their hands might find value in the slot tournament. The formula for determing the long-term value of (or your average win in) such promotions is the total of prizes divided by the number of entries. In this case it's likely to be less than $5. Another consideration for some is the time it takes to play in the tournament plus the amount of time spent waiting to play. For higher rollers, the point multipliers and drawings can offer more value. Sam's Town recently has added a scaled-down Monday seniors day to compete with the new offering of its neighbor, the Eastside Cannery.
The Eastside Cannery's program, which runs from 10 a.m. to 10 p.m. Mondays, is unusual in that the qualifying age is 55, not 50. Enrollment at the players' club is required. Benefits are a 3 times point multiplier, half-price dining at selected restaurants and, after 300 base points are earned, a card swipe with prizes from $10 in free play to $1,000 in cash. Play on machines in the Classic Slots room does not qualify for the point multiplier.
The Palms also recently added a seniors program, on Thursdays, which includes dining and movie discounts and promotions. At least for now there are slot tournaments and drawings.
Station Casinos, including the Fiestas, have a $3,000 slot tournament at each property and half-price dining with payment in points until 6 p.m. Signs indicated that, as a special for this month, the program also includes a bonus point day, bringing points earned from the usual 3 per $1 coin-in to 10 for reels and 6 for video poker. Let's hope this "special" becomes a regular part of the program, as a point multiplier used to be. And, Stations, how about bringing back the drawings you used to have?
The M Resort has a drawing for seniors at 6 p.m. Tuesdays. The unusual thing about it is that you do not need to play, or activate your tickets, on Tuesday, and you need not be present to win. Tickets can be earned any day of the week and must be activated at a kiosk on the day earned. The winners' names are posted shortly after 6 and all prizes must be claimed at the satellite rewards center by 7 p.m.
The Silverton has two seniors drawings on Monday. Tickets must be earned that day but prizes can be picked up until 6 p.m. Tuesday. There are 50 winners in each drawing, and each winner gets a minimum of $50 and maximum of $500. A player may win twice each week, once in each drawing. Although the prizes are modest (expect $50 most of the time), it appears that this promotion offers an unusually good chance of winning something.
The Gold Coast recently cut the point multiplier on video poker for its Monday seniors day from 5 times to 4 times, but that's still a good deal given that casinos' inventory of strong games. Reel players get 10 times points. A maximum of 10,000 points on video poker and 100,000 points on reels are eligible for promotional multipliers at the Gold Coast. Seniors day there also includes a bingo special and a small video poker tournament.
The Orleans offers 7 times points and a card swipe after earning 50 base points, both from 7 a.m. to 7 p.m. Tuesdays. My prizes from the card swipe have included two dinner buffets, two ticket to Big Al's Comedy Club, 5,000 points and 10,000 points. The great things about this swipe are that, opposed to the slot tournaments and drawings at other casinos, almost no time is involved in participating and everyone wins something.
South Point this month added a $5,200 slot tournament for seniors from 10 a.m. to 4 p.m. Thursdays. This is a relative large prize pool and the tournament could be attractive to more players than those at Stations and Sam's Town, depending on how many people participate.
In addition to gambling- and dining-related promotions, some seniors days include movie ticket specials. Often the qualifying age for these is 60.
A few tips regarding casino seniors programs: As with any casino promotion, these may be altered or discontinued at any time. Most if not all require that you be enrolled in the program, not just that you have a players card and meet the age requirement. Many will put a small sticker on your players card showing that you qualify for discounts and other offers. Beware of time time limits and other restrictions on promotions. This information should be available at the players club.
Monday, February 27, 2012
Some questions about a new game
On a recent visit to the Las Vegas Hotel and Casino -- formerly the Las Vegas Hilton -- I couldn't help but notice a new game just inside the entrance to the race and sports book (I also saw this game downtown at the Four Queens). Called "Triple Towers Greyhound Racing," It's a two-sided big-screen TV surrounded by betting stations. Every few minutes an animated dog race is run on the TV. It's fun to watch, but I wouldn't think of playing unless I had the answers to these questions:
How is the order in which the dogs finish each race determined? If it's random, how is randomization achieved? If it's not random,what factors are involved? The game designates some dogs as favorites or underdogs, based on the results of their past five races. But if the race results are random, this information means nothing.
What is the casino's takout from the bets made? In other words, what is the average percentage return on each bet to the players? How does this compare with what actual dog tracks take out?
Triple Towers is an offshoot of the trend toward electronic table games, including blackjack, roulette, craps and three-card poker. Judging by their increased presence on casino floors, these games appear to be popular with players, possibly in part because of their usually lower minimum bets than their real-like counterparts. But do these games offer players a good value?
My concern in this regard, which also applies to the greyhound race game, is that the house edge (or track takeout) on the "real" games (or race bets) reflects the cost of operating those games, particularly paying the dealers, pit clerks, supervisors and other employees involved. These costs should be much less for the electronic versions, so the odds should be better for the players, right?
I haven't done any systematic study, but my casual observation suggests that this is not usually the case. The craps and roulette set-ups I've seen offer the same payouts as their real-life counterparts. In the case of roulette, this means a double-zero game (exception: some upright slot-like rouletter machines I've seen are single-zero). The blackjack games have varying rules, some paying 6-to-5 for blackjack, which is to be avoided in all manifestations of the game. Some of the blackjack games have very good rules, including surrender. The one downside is that they cannot accommodate re-splitting of hands, so players are limited to splitting each hand once.
Another downside is that at some casinos craps and roulette machines don't take players' cards, meaning no comps for playing these games. One casino worker explained to me that this is to prevent people from making offsetting bets such as both black and red on roulette and racking up lots of points while losing little money.
On the other hand, there is no dealer to tip, which saves some players money.
At one small casino, Monte Lago at Lake Las Vegas in Henderson, what had been a live table games pit under previous ownership now consists entirely of electronic games. I don't expect to see this happen soon at larger casinos, but the electronic versions are likely to replace some of the lower-limit (and less profitable) table games.
Particularly with the blackjack games, players should review the rules carefully before playing. And they should play the other games only if they're willing to give the house the same edge its gets on the live versions. In most cases, that's too much for me.
How is the order in which the dogs finish each race determined? If it's random, how is randomization achieved? If it's not random,what factors are involved? The game designates some dogs as favorites or underdogs, based on the results of their past five races. But if the race results are random, this information means nothing.
What is the casino's takout from the bets made? In other words, what is the average percentage return on each bet to the players? How does this compare with what actual dog tracks take out?
Triple Towers is an offshoot of the trend toward electronic table games, including blackjack, roulette, craps and three-card poker. Judging by their increased presence on casino floors, these games appear to be popular with players, possibly in part because of their usually lower minimum bets than their real-like counterparts. But do these games offer players a good value?
My concern in this regard, which also applies to the greyhound race game, is that the house edge (or track takeout) on the "real" games (or race bets) reflects the cost of operating those games, particularly paying the dealers, pit clerks, supervisors and other employees involved. These costs should be much less for the electronic versions, so the odds should be better for the players, right?
I haven't done any systematic study, but my casual observation suggests that this is not usually the case. The craps and roulette set-ups I've seen offer the same payouts as their real-life counterparts. In the case of roulette, this means a double-zero game (exception: some upright slot-like rouletter machines I've seen are single-zero). The blackjack games have varying rules, some paying 6-to-5 for blackjack, which is to be avoided in all manifestations of the game. Some of the blackjack games have very good rules, including surrender. The one downside is that they cannot accommodate re-splitting of hands, so players are limited to splitting each hand once.
Another downside is that at some casinos craps and roulette machines don't take players' cards, meaning no comps for playing these games. One casino worker explained to me that this is to prevent people from making offsetting bets such as both black and red on roulette and racking up lots of points while losing little money.
On the other hand, there is no dealer to tip, which saves some players money.
At one small casino, Monte Lago at Lake Las Vegas in Henderson, what had been a live table games pit under previous ownership now consists entirely of electronic games. I don't expect to see this happen soon at larger casinos, but the electronic versions are likely to replace some of the lower-limit (and less profitable) table games.
Particularly with the blackjack games, players should review the rules carefully before playing. And they should play the other games only if they're willing to give the house the same edge its gets on the live versions. In most cases, that's too much for me.
Saturday, April 3, 2010
Best of Vegas? (Part I)
Each year the Review-Journal comes out with the in numerous categories as chosen by the newspaper's readers and staff. Many businesses use the "Best of Vegas" seal as a kind of Good Housekeeping seal of approval to gain public confidence. In my opinion these "awards" are just about meaningless, as a close look at some of the gambling winners will show.
Forget (if you can) that the same pool of voters who selected the gambling winners found that in Vegas, which has some of the finest restaurants in the world, the "best" this year included Applebees, the Olive Garden and the Red Lobster. These people don't have any particular expertise in the areas in which they voted, and they are not statistically representative of the R-J's readers. They're just people who decided to vote.
Nonetheless, just as the blind squirrel sometimes finds an acorn, some of their choices aren't bad. In particular, a case can be made for Sunset Station as offering the best blackjack, though not for the reasons stated in the newspaper, which cited "Wicked 21" blackjack offered on Friday and Saturday nights.
So what criteria would I use to choose the "best blackjack" winner, and what casino would that be?
First, we need to address the issue "best for whom" -- the $5 player or the $100 player? The tourist or the card counter? In blackjack and other categories, there is no one "best" for everyone. Here are the criteria I would use in evaluating casinos for the quality of their blackjack, in descending order of importance:
1. Availability. Most players should be able to find a seat most of the time at a game they want to play for a minimum bet amount they're comfortable with.
2. Rules. Doubling on any first two cards and doubling after splitting should be allowed in all games. Resplitting of aces, dealer standing on soft 17, and late surrender earn extra points. If games that pay 6-to-5 for blackjack are offered, they should be in a small minority and clearly labeled.
3. Variety. Double deck should be available. Shoe games should be six decks, not eight. Continuous shuffling machines are OK for lower-limit games as long as players have other choices.
4. Extras. Promotions especially for, or at least that include, table players earn extra credit.
5. Atmosphere, surroundings, decor, including ventilation and availability of non-smoking areas.
6. Friendliness and competence of dealers and pit staff.
7. Good penetration. Dealers don't spend half their time shuffling.
8. Tables without side bets so players have a choice.
By these criteria, I think the choice of Sunset Station is a reasonable one. The casino generally has a reasonable number of tables open, including double deck for as low as $10. The rules are better than average, with resplitting of aces allowed, though surrender is not offered on any games. The table games area has a spectacular ceiling and is well ventilated. Dealers are competent and mostly friendly. As primarly a locals' casino, Sunset attracts mostly reasonably competent players who allow the games to keep moving.
On the negative side, the Stations in general don't do much to promote blackjack (or other table games). Their comp system for table games is opaque and, in my experience, not very generous.
On the whole, though, the Stations are among the best places in Vegas for the low- to mid-level blackjack player. Other places I like to play include the M Resort, Mirage, Aria, Rampart and the Orleans.
In my next post, I'll discuss why I disagree with the Review-Journal readers' choice of South Point as having the best video poker, though I don't think it's a bad place at all for that game.
Forget (if you can) that the same pool of voters who selected the gambling winners found that in Vegas, which has some of the finest restaurants in the world, the "best" this year included Applebees, the Olive Garden and the Red Lobster. These people don't have any particular expertise in the areas in which they voted, and they are not statistically representative of the R-J's readers. They're just people who decided to vote.
Nonetheless, just as the blind squirrel sometimes finds an acorn, some of their choices aren't bad. In particular, a case can be made for Sunset Station as offering the best blackjack, though not for the reasons stated in the newspaper, which cited "Wicked 21" blackjack offered on Friday and Saturday nights.
So what criteria would I use to choose the "best blackjack" winner, and what casino would that be?
First, we need to address the issue "best for whom" -- the $5 player or the $100 player? The tourist or the card counter? In blackjack and other categories, there is no one "best" for everyone. Here are the criteria I would use in evaluating casinos for the quality of their blackjack, in descending order of importance:
1. Availability. Most players should be able to find a seat most of the time at a game they want to play for a minimum bet amount they're comfortable with.
2. Rules. Doubling on any first two cards and doubling after splitting should be allowed in all games. Resplitting of aces, dealer standing on soft 17, and late surrender earn extra points. If games that pay 6-to-5 for blackjack are offered, they should be in a small minority and clearly labeled.
3. Variety. Double deck should be available. Shoe games should be six decks, not eight. Continuous shuffling machines are OK for lower-limit games as long as players have other choices.
4. Extras. Promotions especially for, or at least that include, table players earn extra credit.
5. Atmosphere, surroundings, decor, including ventilation and availability of non-smoking areas.
6. Friendliness and competence of dealers and pit staff.
7. Good penetration. Dealers don't spend half their time shuffling.
8. Tables without side bets so players have a choice.
By these criteria, I think the choice of Sunset Station is a reasonable one. The casino generally has a reasonable number of tables open, including double deck for as low as $10. The rules are better than average, with resplitting of aces allowed, though surrender is not offered on any games. The table games area has a spectacular ceiling and is well ventilated. Dealers are competent and mostly friendly. As primarly a locals' casino, Sunset attracts mostly reasonably competent players who allow the games to keep moving.
On the negative side, the Stations in general don't do much to promote blackjack (or other table games). Their comp system for table games is opaque and, in my experience, not very generous.
On the whole, though, the Stations are among the best places in Vegas for the low- to mid-level blackjack player. Other places I like to play include the M Resort, Mirage, Aria, Rampart and the Orleans.
In my next post, I'll discuss why I disagree with the Review-Journal readers' choice of South Point as having the best video poker, though I don't think it's a bad place at all for that game.
Laughlin, Nevada
The spouse and I spent a couple of days this week in Laughlin, a gambling center about 95 miles south of Las Vegas on the Colorado River. We had two free room nights at the Golden Nugget as a result of some play by the spouse at the Nugget in Vegas. If you're going to Laughlin and want to stay at a nice place, I recommend the Nugget, despite an incident in the parking garage that I'll describe later.
Laughlin caters mostly to low rollers, and a few places offers some decent opportunities for quarter video poker players and $5 blackjack players. A friend who is a low roller and a frequent visitor says he has gotten very generous room and dining offers from some of the places where he has played. He served as our guide during our first trip to Laughlin, just for a day, earlier in the month.
Probably the best gambling overall in Laughlin is at the Colorado Belle and Edgewater, adjacent properties owned by the Marnell family. Both have $5 double deck blackjack games with good penetration and each has a bank of 100 percent payback video poker machines, with all games at the quarter level. We also saw positive video poker at the Aquarius, which is affiliated with the Stratosphere and Arizona Charlie's properties in the Las Vegas area. The Aquarius has a $1 10/7 double bonus progressive, with a jackpot for the four aces as well as the royal. The same machines, just outside the hosts' office near the main entrance, have 16/10 "not so ugly" deuces for $1 as well. These were the only good video poker plays for $1 or more we saw in all of Laughlin, except for one game of 10/7 double bonus (100.17 percent payback) that we think was a programming mistake because it was in a casino where all the other games were horrible.
With few exceptions, the video poker situation in Laughlin can be described only as deplorable. In most places we checked the prevailing pay tables were 9/6 for double bonus (97.81 percent payback), 8/5 for jacks or better (97.30 percent) and 16/13 for deuces wild (96.77 percent). This appalling version of deuces is known as Colorado deuces and I always assumed the name came from the state, not the river. After visiting Laughlin, I'm not so sure.
The blackjack in Laughlin is characterized by a prohibition against doubling after split, even in some shoe games. This gives the house an additional edge of .13 percent against a perfect basic strategy player. It also takes the most exciting moments -- when the big money is out on the table -- out of the game, and prohibits customers from doing something many know they can do somewhere else, which I'm sure most appreciate as much as I do. Further, this stupid rule is self-defeating for the casinos because so few people play perfect basic strategy. They should want most of the players I saw to split and double down whenever they want; it would be money in the bank. Such rule can be made only by executives who go by statistics and not by any real experience at the gaming tables.
A couple of more things about blackjack in Laughlin: The signs at many tables say "double after any first two cards." A dealer at one place told us that in the past, many places in Laughlin allowed doubling on first two cards totaling 10 and 11 only. These signs conveniently avoid the issue of whether players can double after splitting, which was barred in all the double deck games I played in Laughlin, though it was allowed in the six deck shoe games at the Golden Nugget. If in doubt, ask the dealer. Also, table minimums are low -- mostly $5, some $10. I found it disconcerting when, at a couple of places, I put out a $30 bet and the dealer called out "green action." Nothing came of it, but the pit needs to know if someone is betting $30?
In terms of atmosphere, most of the places in Laughlin are on the level of downtown Las Vegas. As noted, the Nugget is the classiest, though the Aquarius claims to have the best (newly remodeled) rooms (you can see a mock-up on the casino floor). Out room at the Nugget was pretty standard. One thing I liked was the honor basket of snack items that were so reasonably priced we actually went for a couple of them, something I have never done in a hotel. The Nugget also has a nice tropical forest inside the main entrance, on a smaller scale but along the lines of the one at the Mirage, but with some of the flowers plastic, along the lines of the foliage at the Fiesta Henderson.
Thursday, March 4, 2010
A horrifying possibility
I just became aware of reports that Harrah's Entertainment has taken over some of the debt of the Palms and may have its eyes on taking over the property, as it recently did to Planet Hollywood. The Financial Times published a fairly detailed story on Feb. 24 and the Las Vegas Sun Web site carried a brief summary the following day. Sun readers posted some interesting comments on the story. (Incidentally, the Sun failed to note that the Greenspun family, which owns the paper, also has a small stake in the Palms.)
To say the least, a Harrahs takeover of the Palms would not be good news. The Palms is a unique casino that serves a diverse group of Vegas locals and visitors in ways that no Harrah's property does or could.
On the other hand, Harrah's, the owner of a number of Strip properties and the Rio, has consistently shown nothing but contempt for local gamblers. Its games are among the worst and its comps are among the stingiest. Most of its properties (Harrah's, Flamingo, Imperial Palace, the abominable O'Sheas) are second rate or worse. Harrah's uses Vegas largely as a reward for players at its casinos in other parts of the country, who fill its rooms here, paying little or nothing. They certainly don't come for the 6-to-5 blackjack or Colorado deuces.
If Harrah's takes over the Palms, the changes will come quickly, and they will be drastic. The result will be what a blackjack dealer at Caesars Palace told a player there after Harrah's changed the rules: "This used to be one the best places to gamble. Now it's one of the worst."
Sunday, January 24, 2010
Las Vegas coupons can add real value
It's January, and for savvy residents of and visitors to Las Vegas, that means it's time to purchase two coupon books. Normally I'm skeptical of any deal that involves spending money to save money, but both these books are worthwhile, and most people who buy them should be able to save many times their price by using just a small percentage of the coupons.
There are important differences between the two books. The first, the American Casino Guide, is particularly suited to relatively inexperienced gamblers and visitors to Vegas. In addition to coupons, it contains detailed, reliable information on most forms of gambling. Some of the coupons are good only for players' club sign-ups. For example, we used a coupon for my daughter recently that doubled the $10 in free slot play offered by the Silverton to new members (that one coupon covered nearly half the list price of the book). The American Casino Guide has coupons for casinos throughout the country as well as in Las Vegas and is available in major bookstores and through online booksellers.
The other major book is the Las Vegas Advisor Member Rewards, which comes with a subscription to the Advisor, a monthly newsletter that is an excellent source of information on all things Vegas. The price is $37 for the online edition, $50 for print. Unlike the American Casino Guide, the Member Rewards book contains only coupons that all subscribers can theoretically use –- no offers for new players' club sign-ups only. And the coupons are almost all for casinos in Southern Nevada.
There’s also a difference in the way the coupons must be handled. The Casino Guide is a bigger book, and users can cut out the coupons they plan to use and leave the book behind. The book does come with a cardboard card to identify the purchaser, but we have never been asked to show it. Coupons in the Pocket Book, which fits in a pocket or purse, must be torn out in the presence of an employee of the businesses where they are used. You must bring the whole book with you and leave the coupon in it until you are ready to use it. At a buffet, for example, take the book out tell the cashier you would like to use the coupon. In most cases, she will ask you to tear out the coupon. Do not remove the coupon until you are instructed to do so; in rare cases, an employee other than the one you initially show the book to may need to see the process (for example, a floor person rather than the dealer for a table game match play coupon). This sounds more onerous than it is; you’ll quickly get the hang of how the book works, and the process is usually smooth and fast.
To avoid potential problems or disappointment, be sure to read carefully the general instructions on use of the coupons in each book and on each coupon you plan to use. Many coupons, for example, are not valid on holidays, and some are not valid on weekends.
OK, so what are these coupons for and how much can you save? Both the American Casino Guide and Las Vegas Advisor Web sites list all their coupons, which change from year to year. A few generalizations apply to both books: Smaller, locals' and downtown casinos are represented more heavily than the giants on the Strip. Most of the coupons are for dining or gaming. Typical are two-for-one buffets (or 50 percent off one), free drinks and snack items such as hot dogs, players' club point multipliers free slot play. There also are usually coupons for items such as T-shirts and decks of cards, and discounts on restaurant meals, hotel stays, rental cars and show tickets.
Until this year, both books contained table game "match play" coupons. With one of these, a player can double his bet up to the amount of the coupon. For example: A player puts down a $10 bet and a $10 match play coupon and wins; the casino pays him $20. (If he loses, the casino takes his $10 and the coupon; if there's a push, he can use the coupon again.) This year's Las Vegas Advisor book does not contain match plays, but does have a few coupons for an increased payout for a blackjack. The idea is to discourage the "hit and run" use of coupons -- people playing one hand with a match play, then leaving the casino. The American Casino Guide still carries match plays.
For those with casino players' club points, many coupons can be leveraged. In most but not all cases, buffet coupons can be combined with players' club discounts, and the non-free buffet (or half of the price) can be paid with points. For example: A casino offers $1 off the price of its dinner buffet to anyone with one of its players club cards. Give the cashier your card and a coupon, and in most cases you’ll get the dollar off the buffet you have to pay for, whether you pay with cash or points.
Both of these coupon books have been around for years, and there are rarely problems, but sometimes a casino will refuse to accept a particular coupon, usually because it has been fraudulently reproduced or otherwise abused. The casinos generally reserve the right to alter or cancel all offers, but rarely do so. Occasionally a casino employee will not understand how an offer works, but usually someone is available who does.
Other sources of coupons are the free tourist magazines, coupon sheets of "fun books" given to hotel guests when they check in, the daily newspaper and online sources. Once you’ve signed up for a casino’s players club and gambled a bit there, you may get coupons or other marketing offers in the mail.
Keep in mind that any coupon may not offer the best deal available. For example, a discount show ticket outlet may beat the box office price less the amount of a coupon from a tourist magazine.
There are important differences between the two books. The first, the American Casino Guide, is particularly suited to relatively inexperienced gamblers and visitors to Vegas. In addition to coupons, it contains detailed, reliable information on most forms of gambling. Some of the coupons are good only for players' club sign-ups. For example, we used a coupon for my daughter recently that doubled the $10 in free slot play offered by the Silverton to new members (that one coupon covered nearly half the list price of the book). The American Casino Guide has coupons for casinos throughout the country as well as in Las Vegas and is available in major bookstores and through online booksellers.
The other major book is the Las Vegas Advisor Member Rewards, which comes with a subscription to the Advisor, a monthly newsletter that is an excellent source of information on all things Vegas. The price is $37 for the online edition, $50 for print. Unlike the American Casino Guide, the Member Rewards book contains only coupons that all subscribers can theoretically use –- no offers for new players' club sign-ups only. And the coupons are almost all for casinos in Southern Nevada.
There’s also a difference in the way the coupons must be handled. The Casino Guide is a bigger book, and users can cut out the coupons they plan to use and leave the book behind. The book does come with a cardboard card to identify the purchaser, but we have never been asked to show it. Coupons in the Pocket Book, which fits in a pocket or purse, must be torn out in the presence of an employee of the businesses where they are used. You must bring the whole book with you and leave the coupon in it until you are ready to use it. At a buffet, for example, take the book out tell the cashier you would like to use the coupon. In most cases, she will ask you to tear out the coupon. Do not remove the coupon until you are instructed to do so; in rare cases, an employee other than the one you initially show the book to may need to see the process (for example, a floor person rather than the dealer for a table game match play coupon). This sounds more onerous than it is; you’ll quickly get the hang of how the book works, and the process is usually smooth and fast.
To avoid potential problems or disappointment, be sure to read carefully the general instructions on use of the coupons in each book and on each coupon you plan to use. Many coupons, for example, are not valid on holidays, and some are not valid on weekends.
OK, so what are these coupons for and how much can you save? Both the American Casino Guide and Las Vegas Advisor Web sites list all their coupons, which change from year to year. A few generalizations apply to both books: Smaller, locals' and downtown casinos are represented more heavily than the giants on the Strip. Most of the coupons are for dining or gaming. Typical are two-for-one buffets (or 50 percent off one), free drinks and snack items such as hot dogs, players' club point multipliers free slot play. There also are usually coupons for items such as T-shirts and decks of cards, and discounts on restaurant meals, hotel stays, rental cars and show tickets.
Until this year, both books contained table game "match play" coupons. With one of these, a player can double his bet up to the amount of the coupon. For example: A player puts down a $10 bet and a $10 match play coupon and wins; the casino pays him $20. (If he loses, the casino takes his $10 and the coupon; if there's a push, he can use the coupon again.) This year's Las Vegas Advisor book does not contain match plays, but does have a few coupons for an increased payout for a blackjack. The idea is to discourage the "hit and run" use of coupons -- people playing one hand with a match play, then leaving the casino. The American Casino Guide still carries match plays.
For those with casino players' club points, many coupons can be leveraged. In most but not all cases, buffet coupons can be combined with players' club discounts, and the non-free buffet (or half of the price) can be paid with points. For example: A casino offers $1 off the price of its dinner buffet to anyone with one of its players club cards. Give the cashier your card and a coupon, and in most cases you’ll get the dollar off the buffet you have to pay for, whether you pay with cash or points.
Both of these coupon books have been around for years, and there are rarely problems, but sometimes a casino will refuse to accept a particular coupon, usually because it has been fraudulently reproduced or otherwise abused. The casinos generally reserve the right to alter or cancel all offers, but rarely do so. Occasionally a casino employee will not understand how an offer works, but usually someone is available who does.
Other sources of coupons are the free tourist magazines, coupon sheets of "fun books" given to hotel guests when they check in, the daily newspaper and online sources. Once you’ve signed up for a casino’s players club and gambled a bit there, you may get coupons or other marketing offers in the mail.
Keep in mind that any coupon may not offer the best deal available. For example, a discount show ticket outlet may beat the box office price less the amount of a coupon from a tourist magazine.
Wednesday, January 20, 2010
Drawings -- the big picture
A big part of the locals' casino culture is drawings. Most casinos have them at least weekly, often on Friday and/or Saturday nights. In addition, many have added drawings on weekdays at part of their seniors' days. Some have daily, several-times-daily or monthly drawings. Drawings for cars and other big prizes are not uncommon.
Drawings and other events such as tournaments can add to the return on a player's gambling dollars. But with all the drawings out there, which ones are worth entering? (And remember, in most cases, winners must be present to collect the prizes they're awarded.)
Entries to most drawings are awarded based in whole or in part on amount of money bet. So if you're a frequent player and a high roller, you're in a good position to win. If not, your chances are slim. This may seem unfair; many casinos depend on a large number of small players for their profits. If it's any consolation, the prizes awarded in most drawings may be only a small fraction of what the high rolling winners wagered to earn their entries. If you're a low roller, your chances will be better at small, neighborhood casinos than at the Stations or Coasts.
The move by many casinos to electronic drawing tickets has allowed them to award large numbers of entries to each qualifying player. To an individual this may seem advantageous, but if hundreds or thousands of other players also have a virtual drawer full of tickets, it doesn't improve anyone's chances of winning.
For all but the highest of rollers, I believe the drawings that still use paper tickets are best. Among big casinos, the Las Vegas Hilton is the only one I know of that still uses paper for its weekly drawings. This drawing also gives low rollers a good chance. Players can earn two tickets a day by playing any slot, video poker or table game at any denomination for 40 minutes. Regular players get coupons in the mail for a few additional entries if they earn tickets on specified days. Those who play every day earn more tickets, but not so many more that anyone has that much more of a chance of winning than anyone else.
The drawings are held at 7:30 p.m. Thursdays in the Spacequest Casino. Five people are called to spin a wheel, which has spaces for prizes ranging from $1,000 to $5,000. Some of the $1,000 spaces have a decal awarding a bonus that the player claims by picking an envelope. If any of the people called to spin are not present, names are called until five people get a chance to win.
One more thing -- tickets must be obtained at the players' club booth the day they are earned. If you play Thursday, plan to pick up your tickets before 7 p.m. The lines at the players' club can get pretty long as the drawing approaches.
Drawings and other events such as tournaments can add to the return on a player's gambling dollars. But with all the drawings out there, which ones are worth entering? (And remember, in most cases, winners must be present to collect the prizes they're awarded.)
Entries to most drawings are awarded based in whole or in part on amount of money bet. So if you're a frequent player and a high roller, you're in a good position to win. If not, your chances are slim. This may seem unfair; many casinos depend on a large number of small players for their profits. If it's any consolation, the prizes awarded in most drawings may be only a small fraction of what the high rolling winners wagered to earn their entries. If you're a low roller, your chances will be better at small, neighborhood casinos than at the Stations or Coasts.
The move by many casinos to electronic drawing tickets has allowed them to award large numbers of entries to each qualifying player. To an individual this may seem advantageous, but if hundreds or thousands of other players also have a virtual drawer full of tickets, it doesn't improve anyone's chances of winning.
For all but the highest of rollers, I believe the drawings that still use paper tickets are best. Among big casinos, the Las Vegas Hilton is the only one I know of that still uses paper for its weekly drawings. This drawing also gives low rollers a good chance. Players can earn two tickets a day by playing any slot, video poker or table game at any denomination for 40 minutes. Regular players get coupons in the mail for a few additional entries if they earn tickets on specified days. Those who play every day earn more tickets, but not so many more that anyone has that much more of a chance of winning than anyone else.
The drawings are held at 7:30 p.m. Thursdays in the Spacequest Casino. Five people are called to spin a wheel, which has spaces for prizes ranging from $1,000 to $5,000. Some of the $1,000 spaces have a decal awarding a bonus that the player claims by picking an envelope. If any of the people called to spin are not present, names are called until five people get a chance to win.
One more thing -- tickets must be obtained at the players' club booth the day they are earned. If you play Thursday, plan to pick up your tickets before 7 p.m. The lines at the players' club can get pretty long as the drawing approaches.
Should you be impressed?
At least two locals' casinos have in recent months advertised their large numbers of video poker games returning 99 percent or more. At first glance, 1 percent sounds like a pretty thin profit margin. But what does 99 percent return really mean?
It most certainly does not mean that if you play one of these casinos' 99 percent payback games, you can bring, say $100 for a session and expect to lose an average of only $1. This is because the 1 percent applies to the money you cycle through the machine and not the amount you put into the bill acceptor.
Let's say you play for quarters. At max coin, which you must play to get the 99 percent return, you're betting $1.25 a hand. Some hands result in a loss; $1.25 is deducted from your credits. But some hands are winners, resulting in additions, some quite substantial, to your credits. With a little luck, after an hour and, say, 800 hands, you haven't had to feed the machine anything other than your original $100. But you've put $1,000, including recyled winnings, though the machine. At 99 percent payback, your theoretical loss is $10 -- 10 percent, not 1 percent, of your $100 buy-in. After an average of 10 hours of play, on average, 100 percent of your original $100 will be gone, a return of 0 percent, not 99 percent.
And your $100 may not last nearly that long. Returns stated for video poker games assume perfect play, which few players can approach; strategy errors can multiply the house's 1 percent take. Returns also assume maximum coin betting at all times. This is because of the premium for a royal flush with max bet, which is a significant part of the overall return of any video poker game. And the stated returns are long-term mathematical averages; what serious gamblers call variance or fluctuation (and ploppies, or novices, call luck) can make any session or number of sessions much worse (or better) than average.
On the other hand, stated returns are for only the games themselves and do not include the value players receive in the form of slot club points or other benefits. For example, the Orleans, one of the casinos that touts its 99 percent games, offers point multipliers of up to nine times. With base points worth 0.1 percent, nine times brings the theoretical return of a 99 percent game to a much more acceptable 99.9 percent. (Points can be converted to cash or free play or for comps.) In the above example, this reduces the average hourly loss from $10 to $1.
At most locals' casinos, the returns of many video poker games fall in the range of a little under 99 percent to a little over 100 percent. To the casual player, it doesn't make much difference. The main thing that determines winning or losing in the short run is variance. But to regular, serious players, the real questions are where in the range is the payback of a game and what is the casino doing to add to the players' return. If a game's payback is near the low end of the range, they will play it only if a point multiplier, progressive jackpot or other benefit significantly increases the total return.
Another thing to keep in mind: A casino that advertises that it has many, many games with 99 percent payback or better also is likely to have many, many games with payback that are worse. There are numerous versions of all major video poker games, and some pay back players much less than others. The return of a particular game is determined by the pay table, which can be found on outside of the machine or on the screen. You must know which pay tables for the games you play offer acceptable returns.
It most certainly does not mean that if you play one of these casinos' 99 percent payback games, you can bring, say $100 for a session and expect to lose an average of only $1. This is because the 1 percent applies to the money you cycle through the machine and not the amount you put into the bill acceptor.
Let's say you play for quarters. At max coin, which you must play to get the 99 percent return, you're betting $1.25 a hand. Some hands result in a loss; $1.25 is deducted from your credits. But some hands are winners, resulting in additions, some quite substantial, to your credits. With a little luck, after an hour and, say, 800 hands, you haven't had to feed the machine anything other than your original $100. But you've put $1,000, including recyled winnings, though the machine. At 99 percent payback, your theoretical loss is $10 -- 10 percent, not 1 percent, of your $100 buy-in. After an average of 10 hours of play, on average, 100 percent of your original $100 will be gone, a return of 0 percent, not 99 percent.
And your $100 may not last nearly that long. Returns stated for video poker games assume perfect play, which few players can approach; strategy errors can multiply the house's 1 percent take. Returns also assume maximum coin betting at all times. This is because of the premium for a royal flush with max bet, which is a significant part of the overall return of any video poker game. And the stated returns are long-term mathematical averages; what serious gamblers call variance or fluctuation (and ploppies, or novices, call luck) can make any session or number of sessions much worse (or better) than average.
On the other hand, stated returns are for only the games themselves and do not include the value players receive in the form of slot club points or other benefits. For example, the Orleans, one of the casinos that touts its 99 percent games, offers point multipliers of up to nine times. With base points worth 0.1 percent, nine times brings the theoretical return of a 99 percent game to a much more acceptable 99.9 percent. (Points can be converted to cash or free play or for comps.) In the above example, this reduces the average hourly loss from $10 to $1.
At most locals' casinos, the returns of many video poker games fall in the range of a little under 99 percent to a little over 100 percent. To the casual player, it doesn't make much difference. The main thing that determines winning or losing in the short run is variance. But to regular, serious players, the real questions are where in the range is the payback of a game and what is the casino doing to add to the players' return. If a game's payback is near the low end of the range, they will play it only if a point multiplier, progressive jackpot or other benefit significantly increases the total return.
Another thing to keep in mind: A casino that advertises that it has many, many games with 99 percent payback or better also is likely to have many, many games with payback that are worse. There are numerous versions of all major video poker games, and some pay back players much less than others. The return of a particular game is determined by the pay table, which can be found on outside of the machine or on the screen. You must know which pay tables for the games you play offer acceptable returns.
Saturday, January 16, 2010
Welcome
Welcome to Vegas off the Strip, a blog about all things Vegas with an emphasis on what's going on at the locals' casinos throughout the Las Vegas Valley.
My wife and I first visited Vegas about five years ago. After weeks of research in our attempt to find the perfect low-cost place to stay, we decided on the Orleans, a big locals' casino not far from the Strip. We loved it so much, while walking through the casino at one point I said to my spouse, "I feel like demanding to see a manager -- to tell him how fabulous this place is!"
We moved to the Vegas area about 2-1/2 years ago and settled near the Boulder Strip. We soon became regulars at Sunset Station and Sam's Town. We explored the gamut of locals' casinos throughout the Las Vegas Valley, finding much to like in places as disparate as Red Rock and Ellis Island.
Although we occasionally visit the Strip and downtown, most of our gambling, dining and entertainment is at the locals' places, which in general provide better gambling and better value overall than the big Strip places.
It's my goal with this blog to provide in this blog information on gambling, comps, dining, entertainment and shopping to help visitors and locals alike get more out of their time in Las Vegas. If you have information that others might find useful, please contribute. Thanks!
My wife and I first visited Vegas about five years ago. After weeks of research in our attempt to find the perfect low-cost place to stay, we decided on the Orleans, a big locals' casino not far from the Strip. We loved it so much, while walking through the casino at one point I said to my spouse, "I feel like demanding to see a manager -- to tell him how fabulous this place is!"
We moved to the Vegas area about 2-1/2 years ago and settled near the Boulder Strip. We soon became regulars at Sunset Station and Sam's Town. We explored the gamut of locals' casinos throughout the Las Vegas Valley, finding much to like in places as disparate as Red Rock and Ellis Island.
Although we occasionally visit the Strip and downtown, most of our gambling, dining and entertainment is at the locals' places, which in general provide better gambling and better value overall than the big Strip places.
It's my goal with this blog to provide in this blog information on gambling, comps, dining, entertainment and shopping to help visitors and locals alike get more out of their time in Las Vegas. If you have information that others might find useful, please contribute. Thanks!
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