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More About Airport Slots

Bob Dancer

A few weeks ago, I wrote about slot players (including me, occasionally) “hustling” at Harry Reid International Airport and the organization that runs those slots doing what it could to remove these hustlers. I received a few comments that didn’t get posted, and I want to address those now.

One comment was from someone whose contacts among knowledgeable people in the gambling world are as good as anyone’s. I’m not naming him. Had he wanted to be identified, he could have figured out how to post the comment so that everybody could see he sent it. He wrote:

I am told that it is the employees who are playing these slots so that they are trying to intimidate players off them to get them for themselves. I’ve also heard a big team is paying them off, but I think it is more the former.

My personal contact was with the managers of the airport slots. One of them was a former shift slot manager at the South Point, and since Michael Gaughan owns both the South Point and MJG Airport Slots, this strikes me as a reasonable, believable promotion for him. This man had worked for Gaughan for a couple of decades.

I asked him if identifying “advantage” players and restricting them was company policy or just some rogue employees doing their own thing for their own purposes. He was very clear that it was company policy. I’ve known him for years and watched him closely as he answered. I believe he was telling me the truth. If my expert friend is correct, I got conned. You can draw your own conclusions.

Another player wrote words to the effect of:

If the advantage players keep going after certain brands of slot machines, the obvious solution is to remove those machines so there’s nothing to attract these players.

Perhaps obvious to you, but to me this is clearly the wrong approach. Many of the machines the pros like are also very popular with the recreational players. If the airport removed these slots, whatever machines they replaced them with would not be as popular — and hence, not as profitable.

One thing not obvious to some of my readers is the difference in the way a casino profits between video poker and slots. 

In video poker, if only expert players play the machines, the house makes a lot less money — or they may even lose, depending on the pay schedule, slot club, and promotions. Whether a casino profits or not can depend on removing expert players. 

In slots, however, the house makes the same percentage whether the game is played by pros or novices. The competition is not between players and the house, but just among the players themselves.

So, if they’re making the same percentage, why do some casinos run off advantage players? Let’s say a casino’s slots average a 94% return. If pros pick off the games when they are positive, regular players are playing games averaging maybe 89%. Occasional players can’t tell the difference, but frequent players get a sense that their money doesn’t last as long at this particular casino. When the game returns that little to the players, many quit. 

If the casino removes the knowledgeable players, the average player gets a 92% return or higher. These players enjoy themselves more and play more. The casino holds more money because there are more coins played. Casinos depend on repeat customers — especially casinos with a lot of competition. 

The airport is different in several ways. While at the airport, there is essentially no competition from casinos. If someone wants to play slots, he/she has to play whatever is offered by the airport. You can bet that these slots are tighter than they are at most of the casinos in Vegas.

A related factor is that the customer base of players at the airport is a lot more diverse than the players inside the casinos. Many people inside the airport are not casino patrons. Their flight between, say, Fresno and Phoenix, makes a layover in Las Vegas. These customers are not in town to gamble — but since they have an hour to kill between flight legs, why not? Such players might not be able to differentiate between tight and loose slots. You have to be a somewhat frequent player to know this.

This means the organizers of the airport slots have less incentive to kick out pros than regular casinos do. So why do they do it?

My guess is that it’s in the DNA of the managers that having an environment that supported professional gamblers was a bad thing for them — simply because it was a bad thing back when they worked for regular casinos. So they continue to do it.

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Icahn gets caught

Fontainebleau Las Vegas‘ former owner and a fixture of S&G, Carl Icahn has been a naughty boy. The SEC caught him using his shares in Icahn Enterprises (IEP) to cover risky personal loans. Let’s leave aside the question of why someone as fabulously wealthy as Uncle Carl is supposed to be would need personal loans. How would you like to be an investor in IEP, only to learn that its namesake’s stock was mostly pledged to various (undisclosed) lenders? Caesars Entertainment, maybe you should check up on the status of all those CZR shares that Uncle Carl is supposed to be holding. Has he pledged them to any third parties who might come calling?

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ØØ Pie and Pub


50 Top Pizza is an independent online ranking service that’s dear to our hearts; like us, they evaluate restaurants, in this case pizzerias, with anonymous inspections, then pay in full for their meals. In this year’s 50 Top Pizzas USA Guide, two pizzerias in Las Vegas made the list, one of which is Døuble Zerø (or ØØ) Pie & Pub. TastingTable.com, a popular site that covers all things in the food and restaurant world, also identified ØØ as one of the top 14 pizzerias in Las Vegas. And ØØ being located within a three-minute drive of our office doesn’t hurt.

First, about the name. “00” is the most finely sifted flour, common in Italian pizza, calzone, and focaccia making, perfect for airy crispy crusts. Second, the pizza chef, Michael Vakneen of Popup Pizza fame (at the Plaza downtown since 2012), lets the dough rise enough to stretch it out in such a way that the crust blisters, then he burns it slightly to perfection.

Third, Vakneen, a New York Italian, went to Tokyo to learn how to perfect his Neapolitan pizza technique. Yes, it sounds like the start of a joke (with the punchline something like, Do Tokyo chefs go to Rome to improve on their sushi?). Apparently, in Tokyo, Neapolitan pizza is made with the obsessive and perfectionist attention that’s invested in sushi and rice. Oh, and did we mention that the ØØ oven is wood-fired? Heating pizza ovens with wood is classic Naples style that dates back to the 1700s, adds special flavors and textures, and retains the freshness of the toppings.

It all adds up, as the experts attest, to some of the best pizza in the country.

The restaurant is on Spring Mountain Rd. on the western edge of Chinatown near the corner of Valley View. It’s a pub as well as pizzeria, with a long bar and brick walls giving it an industrial feel. The kitchen, complete with pizza oven, is right out in the open next to the bar, so you can see everything that goes into making these fantastic pies.

The food menu is limited to antipasti, starting with the house pickles ($8) and a couple of salads, including Caesars, and roasted red peppers ($10) and going up to wagyu carpaccio ($20). There are eight pizzas — marinara, mushroom, pepperoni, eggplant, short rib, etc. ($17-$26) — with a choice of three special sauces. They’re smallish, though big enough for two if you start with an appetizer or salad.

house pickles

We tried the house pickles, seasonal vegetables naturally fermented, and a Caesar salad that were both as good as we’ve ever had.

Caesar

Then we got a marinara pizza topped with speck, cured ham that’s like prosciutto, but with the added factor of a smokiness that can’t be beat. We took home one slice and the next day, the crust was as crisp and airy as when it came out of the oven; the sauce, cheese, and meat hadn’t caused any sogginess at all. (Note that ØØ doesn’t do takeout; they’ll give you a box for leftovers, but you have to eat in.)

marinara with speck

It was an unforgettable meal — simple, striking, and scrumptious. The bill, with one glass of ale, came to $50 including tax, which was almost ridiculously modest for such an exquisite dining experience. We can’t wait to return.

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Life Is a Gamble Podcast — The Blackjack Ball

Bob Dancer and Munchkin are back after a long hiatus to talk about this year’s Blackjack Ball. They’re joined by John Chang, former head of the MIT team, Max Rubin, creator and long-time host of the Ball, and Rick “Night Train” Blaine, author of Blackjack Blueprint and this year’s inductee into the Blackjack Hall of Fame. A stellar lineup for the 48-minute podcast. You can also read the transcript at your leisure. All at this link.

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Atlantic City inferno; Mega-Jottings

Casino revenue from the Boardwalk fell 6% last month, reaching $272 million, 2% below where it was before Covid-19 struck. Casinos took a double-digit hit at the tables, down 10%, and it was downright dreadful for the Caesars Entertainment threesome, whose slot win fell 14% and table win dropped 23%. Such are the consequences of being overexposed in a fickle market. Harrah’s Resort got slammed extra-hard, plunging 24% to $19 million. Caesars Atlantic City did only slightly better, tumbling 19.5% to $20 million, while Tropicana Atlantic City slipped but 4% to $23 million.

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Documenting Video Poker Play

This post is syndicated by the Las Vegas Advisor for the 888 casino group. Anthony Curtis comments on the 888 article introduced and linked to on this page.

AC says:

The basic advice here is to keep records of your gambling results. This article is about video poker specifically, but the advice applies to all gambling activity. I’ve always advocated record-keeping for two reasons. The first is obvious — if you’re audited for taxes, you need to have a gambling log of some type or your claims can be rejected. The second is even more important. You need to have a true picture of results and this applies to both winning and losing players. If you’re playing for profit, tracking results can confirm that you’re playing with the expected edge or alert you that you’re not making enough to justify the time and effort spent. If you play for entertainment, record-keeping will tell you how much gambling is costing you. It’s not necessary to be anywhere near as detailed as the author suggests; keeping a daily log of wins and losses will usually be sufficient for both purposes I’ve mentioned. However, more information is better, especially when dealing with the IRS. The definitive source of information on tax matters is our book Tax Help for Gamblers, by Jean Scott, Marissa Chien, and Russell Fox. You can also get win/loss statements from the casino players clubs, which doesn’t require any record-keeping on your part and will provide reliable data.

This article was written by Jerry Stich in association with 888Casino.

Documenting Video Poker Play

Most video poker players simply sit down at a machine and play. They do not keep track of which machine is played, amount deposited, amount cashed out, nor anything else.

This may be okay for casual players – those who only play a few hundred to a few thousand hands per year – but are more serious players missing something by not keeping records of their video poker play?

This article offers suggestions on what details to keep and why it is a good idea for serious players to document them.

Continue reading …

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You win, DraftKings loses

That didn’t take long. After playing tough guy for 12 whole days, DraftKings CEO Jason Robins folded his hand and announced that his much-ballyhooed surcharge on winning bets had been called off. Why? Because he couldn’t tempt FanDuel off the sidelines and into the fray on his behalf. Punishing one’s customers for the sins of politicians never made much sense and even less who when comparative small fry like BetMGM and BetRivers eschewed the loyalty-killing surcharge. ESPN Bet boss Jay Snowden weaseled on the issue, ruling out a (suicidal) surcharge for now but holding open the possibility of sticking it to players in the future. It’s another example of the keen business acumen that has got Snowden where he is today … besieged.

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Still More About Slots

Bob Dancer

Last week I wrote about the hypothetical “Green Bob” machines. Today I’m going to talk about how to obtain some of the numbers we assumed last week. You should probably read that article before trying to make sense out of this one.

In general, there are three sources of information about these slot machines — par sheets, information from others, and figuring it out yourself.

  1. Par sheets.

A par sheet gives a lot of information about the game. These are designed to be useful to employees in slot departments. Probably more than 10,000 people have access to par sheets. I am not one of them.

Under certain circumstances, people with access to par sheets will share them with others. I have made a few unsuccessful attempts over the years at getting a slot director to provide par sheets to me. How to be successful at this is not something I can speak about from my own experience.

  1. Learning from others

I got started by having a “guru” I trusted give me some useful information. There are X feeds and Internet sites dedicated to this. Over time, my first guru stopped telling me things and I found a second. I “bartered” by sharing video poker information for slot information — but bartering can take many forms.

Much of the information online is not very good. Over time you’ll need to figure out the sources you can trust and the sources you can’t. I see no possibility that bobdancer.com will ever become a major source of slot machine information.

  1. Figuring it out yourself

On the Green Bob machine, the information you need is: How long does it take, on average, for each meter to go off, and how much, on average, is each extra spin on each meter worth. You also need the RTP (return to player) — which is to say you need to know whether this game returns 88% overall, 92%, or whatever. 

We’ll cover the RTP first. Assuming you don’t have access to the par sheet, this information is usually in the data displayed when the slot machine is open. There is a LOT of information there, but the RTP is near the top. When the door is open, read what’s there. Sometimes slot employees will tell you to step away, but usually they don’t care. Sometimes you can get them to open up a machine for some reason, perhaps claiming that you’re not sure, but you think the bill acceptor didn’t record the last $100 bill you entered. 

In the Green Bob machine, you also need to know how long it takes each of the three meters to go off. You can do your counting while you are playing or somebody else is playing. So, each spin will add to each of the three counts. Eventually one of them will go off. You’ll record that number and start counting over again. The more cycles you have the better.

We don’t have a Mega meter on this particular machine — but these typically have a cycle of 50,000 or more — approximately the same as a royal flush. You’re never going to get an accurate count for enough cycles to get a close estimate on the cycle. When figuring out whether I’m going to play a game with a Mega meter, I ignore that meter. One will go off periodically and that day will be a winner, but I always assume that that day won’t be today.

There are games where the top meter tops out at 99 spins. I’ve heard pros say things like 99 on the top meter might or might not be a play. It could take you 12 hours of play to find out. 

Once you get a cycle for each meter, you need to figure out how much each spin pays. I collect by both denomination and number of coins — so a penny game betting 500 coins would be recorded differently than a dime game betting 50 coins. While both games require $5 per spin, it’s very possible that the latter game is a bit looser. As the denomination increases, some manufacturers, not all, give the player a slightly better game.

After 30 or more data points for each number of coins/denomination combination, you can get a fairly reliable average of how much each spin is worth. But there will always be variance. Sometimes 25 spins for a certain bet size will return $30 and sometimes it will return $800. You’ll never know how much it will return this time until you play it.

From here, you need to put all the numbers together to figure out how much it will cost to get a Minor meter currently at xx to go off and how much it will return once it does go off. These are average amounts. Sometimes the machine will give more. Sometimes it will give less.

That is basically how it’s done. It’s hard work and once you have the numbers, you’re competing with many other players who have their own numbers — however obtained — sometimes by guessing. There’s a lot of walking around checking machines. If you’re looking for an easy way to get rich quick, this isn’t it.

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Taxation vexation

If you’re a tip-earning casino worker reading this, you’re being conned. Not by LVA but by the political establishment, which is playing jiggery-pokery with your tip income. There’s quite a fever afoot in Nevada presently to rewrite the tax code to (partially) exclude taxes on tipped income. But even if it happens (a big “if,” for reasons we’ll explore), it’s a pig in a poke, a sham designed to keep your overall wages low. And both major political parties are at fault.

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