By the comments on the last entry – and the private e-mails I received – I realize that I have touched on a VERY sensitive VP nerve. Many questions have arisen and many comments bring up important related issues. I will try to answer these questions and address these issues in the coming weeks, but in the meantime I encourage all of you to read the comments frequently. Often there is as much valuable information there as in the blog itself. A community of knowledgeable VP players is out there, and I am so happy that some are willing to share their experiences and expertise here so we all can all become more skillful and thus more successful players. So feel free to answer questions other commenters pose, to bring up problems you have encountered, and/or to share resources you have found helpful.
One part of that last blog entry that caught a bit of flak was my comment that you shouldn’t call yourself an “advantage player” if your plays are not always 100%+. Actually I was careful to go on to explain that I was not dissing players who did not stick to positive plays, but I wanted you to be very honest with yourself. I like the Suze Orman expression “standing in your truth.” This money guru says you will never be financially stable unless you face all the monetary facts in your whole life. The same holds true with your gambling life, whatever or wherever you play. You must analyze every part of your play and KNOW what your edge or the casino’s edge is and whether your bankroll is sufficient for it. Here just “kinda knowing” is extremely dangerous.
So this series on bankroll and related issues is an effort to help you “stand in your truth.” Some of you may be casual gamblers who haven’t done much study on your “hobby.” You may not realize how much information is out there to save you money in a casino. You may be a beginning casino visitor who wants to learn more of the facts so you can eventually become more skilled. And some of you may be former “advantage players” who are transitioning to “just recreational players” because you still want casinos to be a good vacation/leisure time option even when the VP offerings have gone south.
Everyone whose main goal is entertainment wants to find ways to stretch their bankroll and extend their “fun time.” Those who are or aspire to be “advantage players” will want to find every piece of information they can to achieve their high goals. We all can use help! Let’s help each other. I hope to see many “Comments.”
I wish! I think the $2 million should be distributed among all the Kevin Lewises in the country, because, after all, the outcome clearly indicated that simply having that name made you a winner. I’m waiting for a check for my share.
Jean — bad news. Hammond has gotten rid of all of their good video poker. 99.96% Deuces, Super Aces — all gone. Best game now is 9/6 Jacks for dollars at $25 per point.
And Kevin Lewis, did you happen to be in Cincinnati last week? http://www.wxyz.com/dpp/news/local_news/water_cooler/Grab_WXYZ_kevin-lewis-wins–1-million-twice-at-horseshoe-casino-cincinnati1376319219138
Another thing to consider is some players knowingly play under100% games for the comps.
I don’t live in Las Vegas, so I need a hotel room. I also need to eat. I consider free rooms,food,drinks and entertainment to be part of my return.
I know that I’m not an advantage player using these conditions, but these are items I would have to pay for if I didn’t play.
At the Hard Rock Hotel in LV, I’m will to lose money to get a free room, free meal at Mr. Lucky’s, free cocktails and water and free Motley Crue tickets.
My expected loss will always be less than if I had to pay for all these items at full price.
I would as well say that a game doesn’t have to be inherently 100% return to be an advantage play. The LOL playing 6/5 JOB one nickel at a time and getting a free drink every thirty minutes or so is definitely an advantage player. The player who pounds away at 9/6 DDB (<99%) but gets mailers that more than make up for his losses is an AP. By contrast, if you count on mailers, comps, perks, etc. to push you over the 100% threshold BUT THE REAL VALUE TO YOU IS LESS THAN THOSE GOODIES' FACE VALUE, you probably AREN'T an AP even though you may convince yourself that you are. For instance: you put 200,000 coin-in through a 9/6 JOB machine–assume you play perfectly–and the result is that you earn a free cruise to Calypso Crab Island. The retail price of the cruise is $2000. Your expected loss from your play is $960. You're beating the game! But would you have actually paid $2000 for the cruise? Would you have paid $960? Would you have even gone on the cruise at all if it wasn't "free"?
Another example of a pseudo-AP would be someone who plays an inherently +EV game but doesn't bother to learn the strategy perfectly (AND learn to use it flawlessly under casino conditions). Two mistakes an hour will turn FPDW into a negative EV game; one mistake will do it for FPDB. You also have to "believe in" the strategy, as in, trust its accuracy. For instance, if you are dealt AKQ3h 8s in DB, you keep the four to a flush–but if it "feels" wrong to you and you draw two to the royal instead, you're throwing away money. If your "feel" overrides what you KNOW is the right play, you CAN'T be an AP.
I found your blog very informative and helpful. We are creatures of habit so we need reminders of Ad. play because casinos are changing like Boyd. No bonus days for visitors. Thanks for the info.