Our guest this week is Mike Shackleford of the Wizard of Odds, and Wizard of Vegas websites. Mike is a former cohost of Gambling With an Edge, and his websites are the number one resource when people need information about casino games. This week we talk about a huge score made recently in Atlantic City playing a slot machine called Ocean Magic.
We welcome your questions – send them to us at [email protected], or you can find me at @RWM21 on Twitter.
podcast
Click to listen – Alt click to download
Show Notes
[00;00] Introduction of Michael Shackleford, The Wizard of Odds
[00:29] The Ocean Magic online play in New Jersey
[02:26] Listener question about a 2-million hand sample in video blackjack
[12:33] Ocean Magic strategy explanation
[19:40] Odds of a perfect March Madness bracket
[24:34] The 2nd Edition of Mike’s book, Gambling 102
[27:42] South Point Casino March Promotions: Extra Free Play
[28:12] VideoPoker.com: Gold Membership offers corrections on most games
[31:02] Burning Man discussion
[34:56] Betting on the Academy Awards
[36:52] Betting $67,000 on the Warriors to win $670.
[37:54] Betting on the presidential election
[39:03] Listener question about counting the “Bust Bonus” side bet
[41:02] Listener question about CTRs and slots
[45:23] Listener question about getting backed off in California
[48:04] Listener question about cashing out $1400 in $100 chips
[51:32] Listener question about using a pencil and paper
[53:44] Listener question about beating a 6:5 blackjack game
Wizardofodds.com/games/slots/ocean-magic
Wizardofvegas.com/forum/gambling/slots/32613-ocean-magic
Njonlinegambling.com/advantage-players-nj-online-casinos-win
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Why do some slots reset in +EV situations? I think it’s done on purpose as a promotion, to drive interest in a new slot. Who hasn’t heard of Ocean Magic by now? People hear you can win a million in a week and they give it a shot, even though most have no idea what they are doing. Check out the Ocean Magic videos posted to youtube. BTW, there is so much more than just Ocean Magic out there. Ocean Magic is basically just the tip of the iceberg.
In regard to that Indian Casino blackjack machine. Question: Did they check the paytable each time they played? I had a machine that was paying 3:2 blackjack. I demolished the machine with the small bankroll I brought and decided to go back the next week with a much larger bankroll. Came back and before playing checked the paytable again (because I had been shocked to find 3:2 the first time) and lo and behold they had changed it to even money. BJ. Obviously, that killed the EV and I went to play other things.
Yes, putting more than $10,000 in cash into slot machines in a 24 hour period does initiate a CTR if the casino knows about it. If you are using a players card the casinos run reports each day to see players who put in more than $10k in cash. They will usually generate the CTR the next morning for your previous days play.
There was a reader question about a video blackjack game at an Indian casino, and the amount of loss this person experienced.
If this game is the IGT blackjack, D 9 – 11, RSA, 6 card auto winner, late surrender, single deck shuffle after each hand and split aces that get a ten valued card are paid 3:2, then 100.1% is the highest quotes EV I have heard. And to get to that value, you need to know all of the 3,4 and 5 card rules as well as the 2 card composition dependent rules. It is not hard to learn but there are quite a few changes from basic strategy.
I have played that game a LOT and it is pretty easy to bleed off 0.1% ( which is your entire advantage). Also, you will see things you never see at a live game. Once you learn the game, playing 1500 hands an hour is not hard to do. That’s about 20 times as fast as a live game.
Also, the story is that the team played 2,000,000 hands and was down 1600 ( I’m assuming units) instead of being up 2000 ( units). So, if your error rate is costing you 0.1%, you are now at a break even game and losing 1600 units on 2,000,000 hands isn’t that much of a surprise.
If the team kept track of 10,000 hand sessions and there were some -3% sessions, I would at skimming. If I tracked blackjacks and saw that I was getting 1 blackjack every 35 hands instead of 21 hands, I might suspect a machine issue.
Also, if the help screen says the game returns 97%, that sounds like blackjacks are paying even money and there are some other rule restrictions that aren’t mentions. Even money vs 3:2 will cost you half a bet every 21 hands or about 2.3%. That makes a 100.1% game down to a 97.8%. Subtract another 0.1% for no 3:2 on split aces and you are down to 97.7%, which is a long way from 97% ( for this particular game).
If there is one common thread I see with gamblers is that it is much more common to overestimate your ability rather than underestimate your ability.
What’s your opinion becoming a member with “Beat the casino”. I really like Baccarat, just trying to ask and be around professionals that could help.