8/4/2005
Math experts find it easy to figure what percentage a casino slot club gives as benefits. They start assigning x’s and y’s to unknown elements of an algebraic equation, then they take it from there. I don’t know about you, but I never used much algebra once I went out and got a job in the real world. My career choice was one that demanded more principles of psychology than formulas of mathematics — teaching English to high school boys (mostly) who hated to read. I struggled through a couple of algebra courses in college, but even that knowledge, rarely used, is about as rusty as it gets. I know there are many players in this same boat, because I get so many e-mail and personal questions about how to figure out the value of slot club benefits.
So many people ask me how to figure this without using algebra that several years ago I created a six-step “”easy” method. Sorry, but this does involve arithmetic — there’s simply no way around it — so make nice neat columns and keep your decimal points in the right place.
1) Determine how many dollars (A) you have to put through a machine to get one point.
2) Determine how many points (B) you have to earn to get $1 in benefits.
3) Multiply A times B. That number (C) is how much you have to put through the machine to earn $1 in benefits.
4) Now divide $1.0000 by C. That number (D) will have four decimal places.
5) Move the decimal point to the right two places (E).
6) Add a percent (%) sign to E and — hooray! — you have your slot club benefit percentage.
Here’s an example using this “”easy”” method and the simplest slot club point system at — let’s call it — Casino Easy.
The club brochure tells you that you earn 1 point for every dollar you put in the machine. That’s easy: $1 coin-in equals 1 point earned. Okay, you have this first figure: $1 (A).
Now you have to find out how many points you must earn to get $1 cashback. Fortunately, you see a sign at the slot club desk that says they give you $10 for 4,000 points. Also fortunately, you remember the math trick you learned in grade school that if you want to divide by 10 in your head, you just cut off a zero at the end of a number. So you do that and you have your second number. To get $1 you have to earn 400 points (B).
Now you multiply $1 (A — the number you arrived at in number 1) times 400 (B — the number you arrived at in number 2) and come up with $400 (C).
Divide 1.0000 by 400 and you get .0025 (D).
Move the decimal point two places and you have .25 (E)
Add the % sign and — hooray! — you’ve now figured out that this slot club pays .25% (or one-quarter of 1%, to state it another way), which means 25¢ for every $100 coin in.
What’s that? You say that this still isn’t very easy? Well, you’re right.
Most of us were floundering in this ocean of math confusion until Jim Wolf’s Frugal Video Poker software came out in 2002. When he originally showed me the beta version of this software, I asked him if there was anything he could do to help all of us players who were not mathematically inclined to be able to figure slot club benefit percentages faster and easier. Expert computer programmer that he was, he replied, “Piece of cake!”
And so today, if you have the FVP software, you can cut this cake fast and truly easy by using the Slot Club Cashback Calculator. It figures the percentage value of cashback (or comps) and adds it to the VP game you’ve chosen, so you can quickly come up with the total value of this play.
People ask me why I gave Jim permission to put “Frugal” in the name of this software. With this slot club calculator feature (and many others that are unique) added to the basic functions of analyzing almost any game return, tutoring you as you play, and letting you generate strategy charts that you can print out, I feel that this is the one best resource available today to help you become a more skilled VP player.
8/12/2005
I thought you all might like the trip report filed by my grandchildren. Read it and decide for yourself if Vegas is still family friendly!
Our July Las Vegas Vacation
by Kaitlynn Starr, age 10,
with additional notes by Zachary, age 12
This has been the best summer ever! What made it really fun was going to Las Vegas to visit my Grandma Jean and Grandpa Brad.
The trip to Nevada from Georgia was a long process. First we drove three hours from Columbus to Birmingham, Alabama. We stayed at a hotel so we could “park and fly.” The next morning we got up early and took a shuttle van to the airport. We got on a Southwest airplane, for free using my grandma’s frequent-flyer certificates. The non-stop flight to Las Vegas took a little over three hours, and then we were finally in Las Vegas.
We met Grandma and Grandpa in the airport, got our luggage, and went to pick up the rental car at New York-New York. Then all of us went to the Palms to eat at the coffee shop, because after that long trip on the plane, we were really hungry. Since Grandma had broken her foot just before we came, we had to push her in a wheelchair all over creation! (Zachary: It was fun pushing her downhill, but hard pushing her up hills.)
My brother and I stayed at our grandparent’s condo while Mom and Dad stayed at the condo of friends. That night we finally got to cool down when all of us went swimming in their condo pool, even Grandma with her broken foot!
The next morning my mom and I went to get manicures and pedicures at the Palms Salon using slot club points. When we came home, Grandma’s hairdresser, Cindy, showed up at the condo to cut everyone’s hair. Then all the girls dressed up and met Grandma’s friends for Afternoon Tea at Bellagio. I practiced my good manners while I was there. I wasn’t too fond of the food, but I guess my taste buds don’t like all that fancy stuff yet. That night we all six met friends and went to the Alize restaurant on top of the Palms for dinner and it was very fancy. It was hard for me to choose what I wanted to order, because I didn’t recognize some of the French food names! (Z: My food was all seafood that grossed some people out.)
The next day Grandma had to speak at a seminar at the Sunset Station casino. While she was doing that, Zach and I went to the Kids Quest. I was a little disappointed that our favorite Kids Quest at the Palms was closed, but I’m excited about playing at the new remodeled one next summer. (Z: I’m bummed, because I’ll be too old to go there any more. But maybe I’ll try to fake my age.)
That night Zach and I stayed at the Rio with my Mom and Dad in a comped suite. In the evening we walked over to the Gold Coast to see “Forever Plaid.” If you ask me, it was hilarious! It was a little dull at first, but it got a lot better and I enjoyed it. (Z: It was very funny and had some cool songs.) After swimming at the Rio’s sand-beach pool the next morning, we rode on one of the floats in “The Parade in the Sky.” It usually costs $9.95 per person, but, of course, it was paid with comps. (Z: It was fun. Everyone down below us looked like ants.) After such a long day, we relaxed in the room and got a good night’s rest.
On Friday morning we went back to Grandma’s condo to pack for Astro Camp, which Zach and I were going to attend in California for the next week. This would give the adults some time to do grown-up things without kids tagging along.
Saturday morning our parents took us to the airport and we flew by ourselves to California. Astro Camp is a science camp that is awesome! After a fun week, we flew back to Las Vegas. The plane was so full that we almost got bumped –- Zach and I volunteered! (Z: The turbulence was so bad I thought we would have to make an emergency landing.) We only had energy the rest of the day to take a swim.
Mom and Dad stayed in a Venetian suite for our last three days in Las Vegas and we got to stay over with them one night.
8/19/2005
This week I want to talk about some psychological aspects of gambling. No, I haven’t deserted arithmetic. Anyone who has read my gaming writings for the last seven years knows I’ve written continually about the wisdom of following proven math principles. I still believe that all short-term sessions add up to the long term. More important, no money-management plan can turn a negative game into a positive one, and increasing your bet when you’re losing is the surest way to end up broke.
However, most gamblers make short-term goals that have a strong psychological base. Even the skillful gambler who has complete faith in the math does not become a robot–and as human beings we bring our human weaknesses with us into a casino. Most gamblers, skilled or not, have said to themselves at one time or another, “Why didn’t I quit when I was ahead?” Or “Why didn’t I quit when I reached my pre-determined stop-loss figure?”
I’ve written a lot about when to quit a playing session: for comfort reasons, like when you’re tired or hungry or cold; or for math reasons, like when a promotion has ended and it’s no longer a good play. But emotional reasons are just as valid, and one of the strongest is when you win a jackpot. Take time to celebrate and savor your win!
In More Frugal Gambling I write about one gambler who pleaded, “Do you have any advice on money management in Las Vegas? My usual plan of losing every cent I can get my hands on is not very effective.” Gambling has a very strong pull and it takes a lot of self-discipline to resist the temptation to take leave of our common sense, to let greed guide our actions. Nowhere is this more evident than when you win big on a machine. At one point or another, we’ve all said to ourselves, “Well, I finally got lucky and hit a jackpot–and some of this money is going to go home with me!” But then you continue to sit there and feed it all back into the machine. Or you hit a lucky streak at the tables and think about the good feeling you’ll have going home with some winnings. But then you keep playing and lose it all back. When you finally do quit, do you feel miserable and play the “I Wish” game for days after?
I know many gamblers who’ve tried to lock up some of their winnings to take home: sealing it in an envelope, locking it in a suitcase, even giving it to the spouse. But the envelopes get ripped open, the suitcases get unlocked, and the spouse relents and gives you back the money after you beg and plead.
Recently, I was introduced to a product that addresses this problem and can give a little help to your self-control in a casino. In fact, I was so impressed with the Winners Bank200 that it’s now available to order at www.FrugalGambler.biz. It’s a small durable locked metal bank you can slip in your pocket or purse and take to the casino. It has a slot where you can insert bills, coins, or chips that you really want to take home with you. Once at home, where you’ve left the keys to the bank, you can open it and be happy you were able to bring back some winnings.
While you’re at our Web site, you might want to check out another handy gaming product, one that can help you get all your slot cards organized. The leather My Card-It wallet has a patented safety ring that allows you to easily slip in and out any plastic card as you need it. You can keep it strictly for casino slot cards, or add all the cards you carry, like identification and insurance cards and credit cards.
8/26/2005
Recently, a friend sent me a clipping from a small-town newspaper, the headline being “Find Positive New Definition for “F” Word — Frugality.” It was a syndicated Cheapskate feature by Mary Hunt. Here are excerpts from her column:
“Frugal! That word once repulsed me. Being thought of as cheap was to me the ultimate insult. I equated frugality with digging through dumpsters in search of food and who knows what else.
“To me, cheap people skipped out without leaving a tip. They were slovenly in appearance, lacking dignity and self-respect.
“I accepted the offers of freedom that credit-card companies offered to me. I could fix up the house, treat the kids, have new clothes, drive nice cars — just about anything I could think of. And it worked for a while.
“When I came to my senses, I wasn’t experiencing freedom. I sold myself into bondage one dollar at a time.
“Frugality doesn’t mean you have to become someone you aren’t. Frugality means doing whatever it takes to spend less than you earn. Frugality is understanding that if you say yes to one thing, you may need to say no to something else. Frugality is about deciding what really matters and not living to impress others.
“If you don’t start telling your money where to go, you’ll always wonder where it went.”
This article got me thinking about the use of the word “frugal” in my life. I’ve written that I’ve been known in the past, much to my daughter’s embarrassment, to look in a casino trash can and fish out a good coupon, even if I did have to wipe some ketchup off it. I’m not as bad at this as I used to be. But when a casino sends out valuable coupon books to everyone in our condo complex, you might see Brad and me doing some ginger dumpster diving. (We don’t lose our self-respect at these times, but perhaps our dignity does suffer a bit!)
I still love to shop at second-hand stores, on a quest for bargains for my grandchildren as I did twenty-five years ago for my children. With my experienced eye for quality, no one would know that they’re not dressed from a fancy store at the mall.
It probably won’t surprise you that I have a lot to say about frugality –- especially of its powerful influence through 21 years of casino gambling. Next week I’ll talk about some of the ways that being frugal has made this avocation so successful –- and so much fun.
In the meantime, you might go to http://tinyurl.com/2gbhh and find out if you’re a “demon customer.” I’m probably guilty as charged, in or out of a casino!
(And here’s a nifty little computer tip for you, non-gambling related, but very handy. The URL in the previous paragraph was originally 92 characters long, too long for one line. But I went to http://tinyurl.com/create.php where they quickly and easily cut it down for me to the 24-character one I gave above. That’s being thrifty with letters!)