Learning from Munchkin

My co-host on the Gambling With An Edge podcast is Richard Munchkin, a table games player who’s been successful at gambling for several decades.

We often answer listener questions on the show and if anyone asks about a table game, Richard is the go-to guy. Sometimes I’ll have a bit to add, but mostly what Richard says covers the subject very well.

He has used one particular phrase in his answers over and over again. The questions vary, but part of the answer stays the same.

For example, some blackjack player is using one particular count and is considering learning another count because it’s more powerful. Richard will discuss the features of each count, but say, “You’re stepping over dollars to pick up pennies. A slightly better count is NOT where the money is in blackjack. There are far more important things to spend your time learning.”

I’ve heard him say variations on this numerous times and I started to wonder if the way I tackle video poker makes me guilty of stepping over dollars to pick up pennies?

As many of my readers know, I try to learn most video poker games at the 100% level. In NSU Deuces Wild, for example, letting a W stand for a deuce, I play W 4♠ 5♠ 3♥ J♥ differently than I do W 4♠ 5♠ 3♥ J♦.

For the five-coin dollar player, if he holds W 4♠ 5♠ both times he is making a quarter of a penny error half the time. If he holds just the W both times he is also making a quarter of a penny error half the time.

I avoid this small error. I learned the game this well when I was playing $25 games so the error every other time is 6¢ rather than a quarter cent. I still have that play memorized even though the larger games aren’t available, insofar as I know.

Although this particular distinction is one of many many I have memorized, it is safe to say I’ve spent dozens of hours, probably more, learning these exceptions in the first place and reviewing them often enough to keep them memorized.

Have I gained enough to make the difference between learning these things worth more than even an additional $2 per hour over all the hours I’ve spent studying? Probably not.

Without spending this time learning these exceptions, could I have played games worth substantially more than $2 per hour and been better off financially? Definitely yes, insofar as finding games worth more than that.

So, is this a case of stepping over dollars to pick up pennies? Have I been violating Munchkin’s advice (never mind that I spent most of those dozens of hours studying that game before I ever heard Richard give that advice)? Maybe, but if so, as
they say in Traffic Court, I plead guilty with an explanation.

Although in the Dancer/Daily Winner’s Guides for both NSU Deuces Wild and Full Pay Deuces Wild, we distinguish between penalty cards and “power of the pack” considerations, for the sake of simplicity today I’m going to include both of these into the term “penalty cards.”

The underlying assumption behind the question “Is learning penalty cards worth it?” is that without studying the penalty cards you can play the penalty-free strategy perfectly. For me, at least, that assumption wouldn’t track with reality.

Just the study and practice I undergo to learn the penalty cards causes me to be practicing the basic strategy simultaneously. For example, the difference between W J♦ 9♦ 5♣ 6♣ and W J♦ 9♦ 5♣ 7♣, which is a basic strategy play, is probably ignored by all players who have not also made a serious attempt at learning all the exceptions. Even though this play is clearly shown on the Dancer/Daily Strategy Card and Winner’s Guide for this game, I suspect most players simply ignore it or don’t understand why the two hands are played differently.

So, while learning the penalty cards might only return $2 an hour on my study time, I also gain considerably more than that because I learn the basic strategy better during the process.

For me personally, since I’ve chosen a teaching career and a how-to writing career, there are additional income streams available to me for learning this stuff that wouldn’t be available to most others.

Plus, I like being a student. I was good at school and continue to try and learn new things. So even if learning penalty cards doesn’t make great financial sense, it brings me pleasure. Can you really put a price on that?

I’m going to conclude that Richard’s “stepping over dollars to pick up pennies” warning doesn’t apply to me in this particular case. And I make this conclusion knowing full well that others may disagree with my conclusion. That’s okay. I’ve made my own bed here and I’m perfectly happy sleeping in it.

Yes, I know I mentioned that certain hands were played differently than others, but I didn’t explain what the differences were. If you want to know, you’re going to have to look up the information for yourself. If that annoys you, so be it, but the learning process isn’t easy and you need to go through it to become a strong player.