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Playing with a Partner

Bob Dancer

I first started playing “big” in 1994 — which at the time meant playing $5 9/6 Jacks or Better with a 0.67% cash slot club, and juicy monthly promotions at Treasure Island and the Mirage. Other casinos had similar situations (Caesars Palace, Desert Inn, MGM Grand and the Golden Nugget, among others), but I didn’t find out about those until later.

I was 47 years old at the time — a fairly typical age for the customers of those casinos. For the most part, people in their 20s and 30s were still trying to buy a house and find a way to send the kids to college, so they generally didn’t have the funds necessary to gamble for sizeable stakes. 

I was engaged to Shirley and married her later that year. A significant number of the participants in these events were married and both spouses played — and the single ones were probably 80% men and 20% women.

I played these games and promotions for the next seven years — getting to know many of the players who played these promotions at most of the casinos and gradually increasing the denominations of the games I played. The monthly promotions were often on weekends, and there were more than four casinos having regular promotions, so we’d often double dip or triple dip the same weekend.

For a period of three or four years, enough casinos were having generous promotions that if you could afford to play $5 single line games and could play 9/6 Jacks or Better competently, you did very well. Shirley and I remained as frugal as when we didn’t have a lot of money, so our gambling bankroll grew significantly. This type of bonanza no longer exists. There are games you can beat, but not a lot of them.

I got to know two players, “Tom” and “Jerry,” —  one of whom died several years ago and the other I haven’t seen for a few years and may or may not still be an active player. They were gambling partners — not in any romantic sense but in a business sense. There were also teams, where one person put up the money and had several players playing progressives with the common bankroll, but this wasn’t the same as that.

Tom and Jerry both had been successful gamblers for years and both had a gambling bankroll. They just shared results, so if one hit a $100,000 royal flush, that windfall was split two ways. Same principle if one had a big loss.

I had several discussions with them, both separately and together, about what makes a good partner. First was absolute trust. Second, each had to bring something to the relationship the other one lacked. In this particular case, Tom was successful at poker and blackjack, in addition to video poker, while Jerry played progressives and flew all over the country to casino openings. 

A third feature was analytical skills. There were (and still are) a lot of positive gambling opportunities. Discussions needed to be had as to which were the best ones to attack — and how. Each promotion is a little bit different than the others, and sometimes there were arguments about which ones to approach and how. For me, this is a major benefit of having a trusted partner. I wouldn’t want a yes man. I would want someone who could challenge my ideas.

There were far fewer casinos nationwide then than there are now, and most of the brand-new ones had problems when they opened — which could be exploited by the knowledgeable player. Jerry liked doing that and was successful at it.

For me, Shirley was a gambling partner, of sorts, when we were married — but I was by far the driving force behind the decisions. She didn’t really like gambling very much, although she liked dancing at the events. When we became successful enough that she could quit, she happily did. That was a major contributing factor to us eventually getting divorced in 2012 — although her desire to move away from Las Vegas and her aversion to cigarette smoke were the dominant reasons for the breakup. I’d spend 60 hours a week on gambling-related activities, and she fended for herself. We just didn’t do enough things together.

After my marriage to Shirley broke up and I hooked up with Bonnie, I knew I had to do marriage differently for it to survive. Bonnie is a partner in life, but not so much a partner in gambling. She will never be a competent video poker player, but I play on both her card and mine, where allowed, and we go to out-of-town casino events together. 

We were in square dancing together for years, but when the pandemic shut things down, Bonnie decided she didn’t want to do that anymore. We might pick that back up if the recent tax bill remains unchanged and I quit gambling in a few months.

At one point along the way, I decided to have a gambling partner of my own. I’ll tell you about it, but not today.

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Grinning Bandits

See that guy? He’s the single most overpaid CEO in Big Gaming. We’re talking about Jay Snowden, helmsman of Penn Entertainment. As revealed by the Nevada Current, the Institute for Policy Studies and Inequality.org, Snowden makes 734X the median wage of a Penn employee, who must eke out a living on $36,322 a year. Snowden’s obscene pay packet? $26.6 million. Nor is he alone in robbing shareholders blind. Read on.

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Does It Follow?

Bob Dancer

Assume you’re trying to figure out which casino to frequent in Las Vegas. You’ve heard that I’ve played at the South Point and have done well there. Does it follow that the South Point is a good place for you to play?

Some factors to consider:

  1. What game(s) do I play there? 
  2. Is that (are those) game(s) available there at stakes that are comfortable for you?
  3. Do you know that (those) game(s) well?
  4. Do I limit my play there to cases when certain promotions are going on? If so, is that promotion going to be in effect when you wish to play?
  5. I am a senior, and South Point has senior days. Do I play on senior days and are you a senior?
  6. For the right promotion, I can play many hours starting at any time of the day or night. Are you comfortable with playing any shift depending on promotions?
  7. Are you eligible to play there? South Point, like most or maybe all casinos, has restricted certain players from getting mailers, and others from even getting slot club points. Are you such a person?
  8. I play there as a local. Out-of-towners receive a different package of benefits than locals do. Are you a local?
  9. Do you like the South Point? Liking any particular casino is an individual preference. If you don’t like the South Point for any reason, it’s probably not a good choice for you.
  10. The casino has removed several of its loosest games recently. There are still plenty of good games — though not as many as there used to be. Is the game you want to play still there?
  11. If I lose several thousand dollars playing a promotion where I believe I have the advantage, it’s not really a big deal to me. Are you that sanguine about losses?
  12. The promotions at the South Point are much less generous than they were a few years ago. How does this affect the profitability of playing there?
  13. They used to have a better selection of persistence slots than they now. While this affects the casino’s desirability from my point of view, if you’re not a slot player, this is irrelevant to you. 
  14. The casino recently slashed the cash back rate in half for video poker players — going from 0.30% to 0.15%. Does this change how much, if at all, I still play there?

I could extend this list, but you get the point. Even knowing I play there, there are things about my play that you do not know. I don’t publish exactly how much I play there, on which games, and why I’m playing certain promotions and avoiding others.

What prompted me to write this blog is that I recently read “You’re About to Make a Terrible Mistake,” by Olivier Sibony. This book uses behavioral economics concepts previously explored by authors such as Daniel Kahneman, Dan Ariely, Amos Tversky, Richard Thayler and others to examine mistakes made in business and how to avoid them.

One of the concepts that he spends a lot of time on is that it rarely makes sense to exactly copy what somebody else is doing. Circumstances are always a bit different when you’re trying to follow somebody else’s footprints. It’s usually better to do something similar, yet different.

While it was addressed in terms of Fortune 500 companies, I suggest it applies to video poker players as well — where each of us tries to manage our own gambling business. Those who take it beyond the strictly recreational level make decisions and actions aimed at trying to succeed.

So how should knowing thatI play at the South Point affect your decisions? Probably as a “check it out” type of deal. Even if you aren’t trying to copy me exactly, that fact that I find it a worthwhile place to play (or at least I did before they cut the slot club cash back rate) should indicate that there’s probably something worthwhile there.

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Boardwalk Bliss; Dr. Doom

As Las Vegas struggles, customers have been flocking to Atlantic City. It’s not a binary equation, obviously, but it does underscore the appeal of drive-in casinos in times of economic uncertainty. Day-tripping is on the ascent, long-haul travel not so much. Casino revenue hopped 4% on the Boardwalk in July, reaching $284 million. Those seeking to beat the heat stayed home and made iGaming a winner, shooting up 26.5% to $247 million. Sports betting was in a summer lull, with handle down 2% and revenue dipping 6.5%.

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Hill the Shill Returns

DeNile is the only river that runs through the Las Vegas Strip and casino bosses having been boating on it big-time of late. But when it comes to blowing sunshine up one’s own ass, there’s nobody better at it than Pollyanna-in-Chief Steve Hill, CEO of the Las Vegas Convention & Visitors Authority. He dumped an extra-large serving of bullshit on the plate of CDC Gaming‘s Buck Wargo last week and demanded that the public swallow it whole.

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Good Guys & Bad Guys

See that fella? It’s certified Bad Guy Sen. Mike Crapo (R) and he’s grinning because he stuck it to you big time and looks to get away with it. To steal from Vital Vegas author Scott Roeben, Crapo has the perfect last name for someone who gleefully took a big, steaming dump on the gambling public. He’s the evil genius behind the OBBBA tax hike on gamblers, which got passed because most of Crapo’s colleagues were too clueless to study the bill … and because they were under heavy White House pressure to move the damn thing.

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Monitoring the Midwest

It’s been two days since Hollywood Joliet opened and the reviews are in. Suffice it to say that Wall Street is raving about what Penn Entertainment accomplished on a mere $185 million. (One analyst even likened the finished product to Durango Resort in terms of quality.) It will be October before we know how much of a sparkplug it will prove to be, but solid business should (thanks to superior access) solidify into something quite a bit more. After all, Joliet hasn’t seen a new casino in 30 years.

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