Question of the Day - 02 November 2010

The Big Spin took place as planned and we reported briefly on the result, underplaying it because the full description was scheduled for the lead story in the November Las Vegas Advisor. This was the spin connected with the MTV show called "The Buried Life," in which the show's four principals tried to win $1 million by starting with $125,000 and winning three consecutive spins at the Golden Gate. Following is Anthony Curtis' description of the event.

As soon as I heard about the spin, I decided I had to see it. Talk about a scene; the casino was packed and the place was buzzing. In fact, I had to leave briefly to check out the Monday Night Football party at the Playboy Club and I couldn't wait to get back to the Gate where the action was.

As the spin got closer, the tension got greater. When the show's stars walked in, there was the feel of a heavyweight title fight. I was standing near the casino owners Derek Stevens and Mark Brandenburg, who were back at the bar. The crowd was so thick by then that there was no way to see the wheel.

All of a sudden, a cheer erupted from the crowd. Mark looked at me. "Was that a win?"

"I don't think so," I answered. It didn't seem loud enough, but it was loud, so I wasn't sure.

A moment later, a roar went up that I thought might bring the roof down. I looked over at Mark and said, "That was a win" (the first cheer was for the placing of the bet). To his credit, Mark just nodded and gave a little smile.

One down. Two more like that and the Golden Gate would have to pony up the million. This time when the first cheer came, no one reacted, but rather braced for the next eruption.

It never came. The next sound we heard was a collective "Awwwwwwww." I think the bet was on red and it fell black. Regardless, the Big Spin was over and the Golden Gate had won $125,000.

Here are a few more details:

• The spin took place on a standard double-zero roulette wheel, which means the odds against winning three consecutive spins were about 9-1. The starting stake was originally $250,000, which would have required only two consecutive wins to reach the million. Had that been the case, the odds against would have been a little less than 4-1.

• Word is that the Golden Gate looked into taking out insurance on the original proposition and could have for $240,000. That would have guaranteed the publicity and a chance at a $10,000 win without any risk. They didn't do it. As it was, the casino collected a $125,000 profit. The mathematical expected win was $6,575 on the $125,000 bet and $13,150 on the $250,000 bet.

• This was the biggest known roulette wager ever, eclipsing the former biggest bet of $220,000 made in 1994. That bet was placed on the wheel at Binion's Horseshoe by a tuxedo-clad computer programmer from London. The man placed his bet on red, watched the ball drop into the red 7 slot, and left with the money. Another big bet was made a decade later, when a 32-year-old Londoner placed $135,300 on red at the Plaza. Similar to the Golden Gate bet, this one was connected to another reality-TV show called "Double or Nothing." The ball dropped into red 7 on that bet, too, and the player walked away with $270,000 after tipping the dealer the remaining $600.