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Cut Your Losses

Discussion in 'Casino Gaming' started by Ben Jammin, Jun 18, 2013.

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  1. Ben Jammin

    Ben Jammin VIP Whale

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    It's a fact that with correct strategy, and knowledge of how to play the game, good money management and some personal discipline you can cut your losses down to the house advantage, and with comps and special points days, promotions and the like, if you play enough, free rooms, food, and drinks one can break pretty close to even.

    I recently read an article in the Los Angeles Times Travel Section about the cost of vacation hot spots, and Las Vegas ranked #1 in value, not counting gambling of course.

    Where else can one get first class room for less than a$100 a night on a weekend and even less on a week day? Not to mention the entertainment and dining options.

    Some of us on here get comps like free rooms, food and other perks if we gamble enough, but you'd better be ready to put up that stake, win or lose you can get those comp dollars.

    But enough of that, just learn the games, stay reasonably sober and stick to the letter of basic strategy and you'll come out pretty close to even less the casino's edge whatever it is.

    Slots are the worst, the lower the denomination the larger the house take, down to pennies where the house advantage is up to 20% or more, to dollar slots at 5 to 8%, quarters along the Boulder Highway about the same as dollars downtown, with the Strip being the worst.

    Slots make up to 75% of the casinos take, so it's no wonder they comp you if you're a slot player. But it'll cost ya!

    Then Roulette at 5.6%, Black Jack as low as .5% to 1% depending on rule variations and number of decks, as long as it's not that awful 6 to 5 payoff on Black Jack, (never play 6 to 5 Black Jack). Baccarat at 1.06% (Banker) and Craps at .86% with single free odds, .66 with double free odds (see Craps guide sticky top of the category) and the of course Video Poker at 99.5% payback on a game such as Jacks Or Better, but you have to know how to play or it can be worse that Roulette or Some slots.

    If you're on a winning streak you should press it up a bit, but if your on a downward trend it's always best to take a breather, and come back later when the gods are in a better mood.

    Don't ever try to "Win it Back" and if you're winning quit while you're ahead.
    Better to be a small winner that a sore loser.

    Just saw a special on gambling where Steve Wynn said "They all put it right back in" when they win. Not me Jack, I'm leaving with some of your money for a change.

    Good Luck!

    .
     
    Last edited: Jun 19, 2013
  2. mike_m235

    mike_m235 Tourist

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    The sad irony of it is that I get better comps when I'm winning. Playing mostly craps, when I'm winning I get longer hours in and my pressed bets yield a higher average. When I'm losing, the money's gone and I don't get the hours.
     
  3. LV_Bound

    LV_Bound VIP Whale

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    Sorry, I have to disagree here. :wink2::beer::beer::beer:
     
  4. FoolsGold

    FoolsGold Tourist

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    When those slot machines just yield little dribs and drabs of "winnings" yeah, they just go right back in.

    Just as a two dollar "win" at a lottery just goes to another ticket or any other meaningless little "win" just goes into the coin bucket.

    Learn some of the more exotic table games such as Pai Gow TILES and you can play for hours getting mostly TIES, not wins nor losses, just ties. Yet you get your free drinks too. Play at a busy table and the play will be slow, yet their own computerized comp rate is grinding out a slight edge to you since you are getting comped marginally faster than the house edge is eroding your bankroll.

    A mailer coupon, a jazz group with a two drink minimum, a good dinner, some luck at the slots or tables ... you don't walk away with pockets sagging with chips but you do walk away slightly to the plus side. The only things you have to avoid are getting plastered, going to bottle clubs, going to expensive shows, going to top-knotch name restaurants, gambling when drunk or going anywhere a taxicab driver recommends. Other than that, you just "skim the cream" and enjoy it.
     
  5. Ezzy711

    Ezzy711 Low-Roller

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    I agree 100% if you are looking for a travel bargain. I think what is missing is the entertainment factor. I know there are people who have money management problems, chase losses, bet more then they can afford. However, I am not doing this to break even or win although that is a fabulous and optimum outcome. This is my entertainment. I play slots and tables. I know the odds but enjoy the fun of slots at times and betting at my pace. Press the button, watch the crowd, wait for a a drink, etc. Nobody is dealing or rolling trying to get my money as fast as possible. Because I play a variety my comps are enough for it to "feel" I'm getting something free. My sister spent a bundle on Stones tickets, that's her entertainment, this is mine.
     
  6. FoolsGold

    FoolsGold Tourist

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    Okay, I too often wonder about this "stay relatively sober" advice.

    Look at it from a cost and quantity perspective. We all know you can get good booze as long as its fast rather than in some strange concoction that will take the bartender too long. You can comped for quality craft beers, high end booze, low end beers... any thing at all.

    If you go to a Dive Bar such as Money Plays near The Palms, you get a good wine and beer selection and the usual Video Poker offerings. Sure you have to tip the bar tender but you will be tipping someone if you were in a casino too.

    It can be cheaper to drink good quality stuff in Vegas than to go to Casino Royale and do the cheap beer and cheap hot dogs route. If you drink a great deal, its best to do the last half of the drinking away from major temptations of gambling.
     
  7. MikeOPensacola

    MikeOPensacola VIP Whale

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    Love your posts Ben, keep ' em coming. Good stuff.:peace:
     
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  8. nostresshere

    nostresshere Mr. Anti Debit Card

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    Sorry, it is Vegas. Not a job. I want to have FUN FUN FUN.

    (said in good spirit - no slams)
     
  9. Brensan

    Brensan Low-Roller

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    Wise words! Can I hire you to sit on my shoulder and keep reminding me of this? - I seem to have a problem with that "personal discipline" thingy...
     
    BEAU RIVAGE - Super Bowl weekend
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