9/2/2005
Last week I wrote about frugality, including a quote from the “Cheapskate” about the word, in which she conjured up images of the homeless digging in dumpsters for food. The very next day I came across a related item in “The Buzz,” an odds-and-ends section I always read in our newspaper, the Las Vegas Review- Journal:
“Dumpster diving is not just for the homeless. Professionals earning six-figure salaries also are doing it.” The item goes on to describe the experiences of Don Gabor, who says many Dumpster divers have regular full-time jobs and do it as a hobby, not for just survival. He says there’s a large community of these people developing across the country.
Well! I guess Brad and I can come out of the closet –- and do our tour of dumpsters in the light of day now that it’s a respected hobby!
Anyway, last week I promised I’d talk about how our frugalness has contributed to our success in casinos. I usually don’t get writer’s block, but I had it at this point, not because I didn’t have any material to write about, but because I had too much! After all, I’ve written three books with “frugal” in the title, with two more in the pipeline. What does a writer do when she reaches this point, besides sharpen all her pencils? She pulls out her ever-present trusty Thesaurus. Hey, I haven’t looked up “frugal” in my Thesaurus for a long time.
Thrifty
After I came out with The Frugal Gambler, someone decided it was a good idea and wrote The Thrifty Gambler. I wasn’t upset; imitation is the best form of admiration. (Besides, it didn’t sell very well.)
Spartan
Okay, some of the casino rooms we stayed in during the first years of our gambling life weren’t fancy. But they were clean–and more important, they were free–which allowed us to build our bankroll to play at the higher levels where we could be comped to fancy digs.
Careful
We keep careful daily records of our gambling. Not only do we need them for the good ol’ IRS, but when we’re in a losing streak, we can also go back and see our long-term overall financial success and realize that “this too shall pass.” And when we’re winning, we can keep from getting a big head by looking back at our humbling long dry spells.
Chary
We’ve always been very catious not to play beyond our bankroll. In fact, we mostly play at a lower level than we have the bankroll for. Then, when we lose, it isn’t quite so painful.
Economical
I’ve had to learn that saving time can be more economical than saving money. For many years, we didn’t rent a car while we were staying in Vegas hotels for weeks at a time. We used free shuttles or the city bus system when we found a good play that was too far for us to walk to. Eventually, I figured out that the profits we made by taking advantage of more promotions all over town more than paid for a rental car.
Hey, I’m on a Thesaurus roll here! How long can I stay on it? Tune in next week.
9/9/2005
Continuing the Thesaurus roll with “frugal.”
Economical –- I’ve had to learn that saving time can be more economical in the long term than saving money in the short. For many years we didn’t rent a car while we were staying in Vegas hotels for weeks at a time. We used free shuttles or the city bus system when we found a good play that wasn’t within walking distance. Eventually, I figured out that the profits we made by taking advantage of more promotions all over town more than paid for a rental car.
Conservative –- as in “a conservative estimate.” I’m big on underestimating the potential profit of a certain play. Overestimating your advantage in gambling puts you in dangerous territory.
Cost-conscious -– A frugal person is always aware there’s a price tag, visible or invisible, on any item or activity. Most casino games exact a “fee” (the house edge) for playing. A wise gambler studies the alternatives and chooses the game he can afford. Some gamblers choose to play poker in a non-smoking atmosphere, because they know that long hours in a smoked-filled poker room may have a health price they aren’t willing to pay. An addicted gambler takes money earmarked for the family’s necessities and loses it all, then realizes that losing relationships is a bitterly high price to pay.
Provident –- as in “providing for future needs or events.” I love this one. I’ve been accused of planning so much for the future that I don’t enjoy the present. And this is a danger. But my monthly planner would be a good illustration that a teacher could use in a class on “How To Be a Successful Casino Gambler.”
Saving –- as in “a reduction in expenditure or cost.” I always look to find an equivalent value (a room, meal, show, whatever) at a lower cost.
The Negative Look at Frugal
The Thesaurus also covers the negative connotations of the word “frugal,” the only side many people see, and wrongly so, when they look down on frugal people.
Parsimonious -– as in “stingy.” Brad and I always tip appropriately under conventional circumstances. We’ve always been generous in our charity giving. We never want to feel that our gain will work a hardship on another person, either in our personal relationships or our business dealings.
Avaricious -– as in “immoderately desirous of wealth or gain; greedy.” Brad and I are still in shock that gambling has been so successful for us. All we ever planned to do was be able to enjoy free vacations in Las Vegas. In fact, the last chapter in The Frugal Gambler is titled “Breaking Even Is a Terrific Thing.”
Penurious -– as in “unwilling to spend money.” The old saw is true, especially in gambling: It does take money to make money. Many skilled gamblers have failed, because they just didn’t have an adequate bankroll to withstand the normal ups and downs.
Poor -– Even when we didn’t have much money, we’ve never considered ourselves poor. Brad and I were frugal during our early casino vacations, because although we lived a quite comfortable life, we didn’t have a large amount of discretionary income. Why are we frugal now? I guess we just never got out of the habit!
Cheap — I’ve always said that being frugal doesn’t mean being cheap. Instead, it means always getting good value for your money at any level.
9/16/2005
In light of a recent shooting death during a robbery in the parking lot of the Suncoast, I thought it appropriate to return to the subject of casino security. Here’s some good advice from a friend of mine who’s in a casino somewhere almost every day of the year –- and collects a lot of big jackpots.
Play Safe
So you’ve just hit a jackpot. Let’s say it’s a $1 royal flush for $4,000. Congratulations!
It’s easy to get lost in the moment. The slot attendant comes over, says something nice, and asks for your ID. As you hand it over, a few things should be going through your mind.
Do I want cash or a check? If you don’t wish to carry this much cash, now is the time you must request to be paid by check. Once they come back with the $4K in cash, it’s usually too late. You can try explaining that you were too excited to ask for a check, but you really wanted to be paid with one, and they might still accommodate you — but they won’t be happy about the extra work. Once they actually hand you the cash, it’s definitely too late.
I don’t mind carrying this much cash, but do I want everyone in the area to see me receiving it? There are two ways to minimize your exposure. To get the payment over quickly, you can say, “”Please don’t count it, just hand it to me.”” Most casinos have had the money verified by at least two people, and they usually run it through a counting machine. If you believe that the casino isn’t out to cheat you, this option is better than having them count out 40 hundred-dollar bills.
A second option, even better as far as security goes, is to ask to be paid in a more secluded location. One attendant can watch your machine, while you walk into (for example) the High Limit room to be paid there. The good folks playing in there are much less likely to want to steal your $4,000.
Finally, once you’ve been paid, don’t flash the cash around.
So you’ve been paid in cash and you still have a good portion of it in your pocket or purse. Time to go home and savor the win! Did you valet park your car? This is a relatively safe choice, as valet parking is usually right in front of the casino, is well lighted, and many people are around. If you self-parked, did you get a spot right near the casino door? If not, you might ask for a casino security guard to walk you to your car. It’s part of their job, so don’t hesitate to ask.
At the very least, be aware of who’s around you as you proceed to your vehicle. If someone is following you out of the casino, you might spot this as you approach the door. If you do see someone suspicious, just stay inside the casino. If the suspicious person remains in the vicinity, it might be prudent now to request a security escort. Better to err on the side of caution.
It’s a sad fact that casinos attract some desperate people. Some are so desperate as to steal your money and/or cause you harm. Hitting a jackpot should be a happy occasion, but the smart player keeps in mind that it might attract the attention of one of these desperate people. Always be aware of your surroundings, and stay safe!
9/22/2005
The Fiesta Rancho, in North Las Vegas, will host the ALL-STAR GAMING EXPO on December 2 and 3, featuring many of the leading authorities on gaming and well-known gaming writers. The impressive line-up of guest speakers includes Steve Bourie, Jeffrey Compton, Anthony Curtis, Bob Dancer, Larry Edell, Steve Fezzik, Angel Largay, Blair Rodman, and yours truly.
Topics in the two-day seminar series include: playing the comp game, couponing, introduction to playing Texas hold ’em and playing in poker tournaments, blackjack strategies and tournament tips, craps for beginners and advanced craps, sports betting and handicapping, and video poker instruction and tips.
Tickets are $10 for each day, allowing access to all seminars for that day, or a two-day pass in advance is $15. A hotel package is also available for a casino rate of $65 per night that includes admission to all seminars. Individual tickets or the hotel package also include some gaming perks and discount food offers, plus drawing tickets for prizes at the conclusion of the Expo.
An exhibit hall will be open both days (free, even if you don’t attend any seminars) to meet with the speakers, gather the latest casino information, and browse the books, software, and other resources to help improve your gaming results. For more information or tickets, call the Fiesta Rancho at 800/731-7333 and ask about the “All-Star Gaming Expo.”
More details will follow as they become available. Updates will be included on the calendar page of my Web site, www.FrugalGambler.biz. Brad and I hope to see many of you Frugal readers there!
A FREE event this weekend — Super Run 2005, a classic-car experience, will be held September 22-25, 2005. This automotive event is open to all years, makes, and models of classic vehicles: cars, trucks, motorcycles, and special-interest vehicles, including vintage, classics, street, hot rods, muscle cars, street rods, competition vehicles, and customs. Super Run 2005 is being held on a tree-lined median with cruise lanes on Water Street in downtown Henderson, just down the road from Las Vegas.
For more information, go to www.SuperRun.com.
Now for a frugal recommendation: an alternative to buying expensive new printer cartridges. This isn’t specifically gaming related, although most of you print out gambling information at one time or another.
If you’re like me, you hate the high prices of printer cartridges and are always trying to find a cheaper way to keep your printer printing. Some VP-playing friends of ours have started a business in Vegas that can help people with this problem. It’s called Cartridge World and it’s located in the strip mall at the southeast corner of Flamingo and Decatur (where you see the Marie Callender’s restaurant).
The frugal feature of their business is that they refill laser and ink cartridges for printers, copiers, and fax machines for up to 50% less than the cost of a new cartridge. But for you Frugal Friday readers, because the owners are so grateful for all the help they’ve received through the LVA, there’s a frugal bonus — an extra 15% discount on the already-low price of their refilled cartridges. To get this discount, just mention the magic phrase — “Frugal Fridays”! Since Cartridge World is only a couple of blocks west of the Palms, this can be convenient for both locals and tourists to either bring in their own used cartridges to be filled while you wait or to purchase already refilled ones.
A disclaimer here — I have no financial interest in this business; I just like to share frugal tips I have discovered. Plus, I applaud any activity that is environmentally friendly. Did you know that a printer cartridge thrown into a landfill can take up to 450 years to decompose?
9/30/2005
I always like to attend the Global Gaming Expo each fall and see what new games and gimmicks the manufacturers are thinking up to make the casino floor more interesting. Some of the new table games and slots catch a quick glance from me, but I look closely at the new video poker offerings.
This year I found some extremely creative games, many of which I would really be interested in playing in a casino — if they become available with decent paytables. Again this year, as we do each year, Ernie Moody, the creator of multi-line video poker, and I commiserated with each other on the failure of casino executives to understand that new games won’t last on the floor, no matter how interesting they are to play, if the paytables are so bad that people lose their money too fast. Players don’t expect to win all the time, but they soon learn what machines allow them to play longer on their gambling bankroll.
You might say that 2005 was the Year of the Combo in the video poker arena. One game combined two of my favorite games, Super Times Pay and Spin Poker. And then there was the Multi-Strike/Super Times Pay hybrid, again joining together two of my favorites. The problem with both of these is that they’re combining two games that already have high volatility. These probably will be more successful on the 1-cent and 2-cent levels, because the increased volatility of the combos may even scare me away at the higher levels, no matter how good the paytables!
However, the Multi-Strike World Poker Tour machine, offering hold ’em in a Multi-Strike format, might be the biggest winner — since 2005 is also the year of hold ’em poker all over the world. I found this game very easy to play, with an intuitive strategy, even though I rarely play live poker. I’ll be interested to see what the overall return of this game turns out to be with various paytables. I’ll have to leave those computations to the math experts.
One new machine that really impressed me was All-Star Poker, a new Game King choice for multi-hand poker games. This isn’t a new game, but a new multi-game machine, with a choice of Triple Play, Five Play, and Ten Play formats. You then choose from a number of games, including some of the new and old “specialty” favorites to which the casino might not want to dedicate a whole bank. The model I saw at the show included Chase the Royal, Double Pay, Super Times Pay, and Five Aces. This gives players a big choice in one machine of what I call “oddball” games, and perhaps will keep some of these “greatest hits” alive on an increasingly crowded casino floor.
Speaking of “oddball” games, I saw that WMS Gaming has brought back the once-popular Multi-Pay game, both in a stand-alone game and one of the games in Multi-Pay Poker Plus. The latter is a multi-game also containing Jacks or Better, Bonus Poker, Double Bonus Poker, Deuces Wild, Joker Poker, and Flush Fortune.
Multi-pay has an interesting concept: You’re paid for all paying hands in one draw. For example, if you end up with a full house made up of KK333, you’re paid for the full house, the high pair and the trip 3s. The Frugal VP software has three paytables for Multi-Pay in its default list of games, so you can find the EV and the strategy of any schedule and then practice playing it on your computer.
My absolute favorite game at the show, however, was the new video poker game with attitude, Opponent Video Poker. It’s regular VP, with the addition of a “skins” game played on a poker table, where you’re playing against two animated characters. Their emotional reactions when they win a big pot or lose a hand make you feel like you’re playing with your crazy friends around the kitchen table.
The good news is that the basic video poker game is unchanged, so there’s no change in strategy on the regular VP hand. However, since your electronic opponents always play perfect strategy, at times the skins pot is large enough that you’ll go against regular strategy