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Thursday, February 26, 2015
Gambling With an Edge - guest Michael Gaughan
The guest on the show this week is Michael Gaughan, owner of the South Point Casino in Las Vegas. We talk with Mr. Gaughan about his father Jackie Gaughan who owned the El Cortez casino in downtown Las Vegas, as well as pieces of many other casinos.
Thursday, February 19, 2015
Gambling With an Edge - guest Tysen Streib
Our guest this week is Tysen Streib, one of the authors of Flop Turn River.
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Thursday, February 12, 2015
Gambling With an Edge - guest Don Schlesinger
The guest this week is Don Schlesinger, author of Blackjack Attack, and the latest member of the Blackjack Hall of Fame.
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Thursday, February 5, 2015
Gambling With an Edge - guests Rick Blaine & Max Rubin
The guests this week are Rick Blaine & Max Rubin. They are on to discuss this year's Blackjack Ball. The Ball is a party held in Las Vegas once a year hosted by Max Rubin. Some of the greatest gamblers in the world attend this party, and compete in a skills competition for the Grosjean Cup. Rick Blaine was this year's winner.
Thursday, January 29, 2015
Gambling With an Edge - guest Mike Shackleford
The guest this week is Mike Shackleford . This week we discuss the upcoming Super Bowl and the many prop bets available.
Thursday, January 22, 2015
Gambling With an Edge - guest poker legend Billy Baxter
Our guest this week is 7 time WSOP bracelet winner Billy Baxter. Billy is one of the old time players kicking around Vegas for 40 years. We talk poker, sports betting, golf, pool hustling, a little bit of everything. A fascinating guest who we will try desperately to get back.
Thursday, January 15, 2015
Gambling With an Edge - guest Anthony Curtis 6
Our guest this week is Anthony Curtis, owner of The Las Vegas Advisor and Huntington Press publishing. We discuss the new poker book Flop Turn, River, as well as the new coupon book from Las Vegas Advisor. Flop, Turn, River: A Hand-By-Hand Analysis of No-Limit Hold 'Em Tournament Poker Strategies
Thursday, January 8, 2015
Gambling With an Edge - APs Andrew and Brad
Our guests this week are advantage players Andrew and Brad.Andrew and Brad set out to scout casinos in Oklahoma. Being avid listeners to our show they had heard the horror stories of people having their money confiscated by police in Interstate 40. Sure enough they were pulled over on I-40 and the police found their $40,000. Tune in to hear their story.
Thursday, December 18, 2014
Gambling With an Edge - Surveillance Agent Jay
Agent Jay has been working in Las Vegas surveillance rooms for over 20 years. He is our guest this week to tell us what surveillance people are looking for when watching for advantage players.
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Saturday, December 13, 2014
How Casinos Cheat
Many of you may have read James Grosjean's blog posts entitled How Casinos Cheat. If not you can find his excellent blog here, Beyond Numbers. I very much agree with JG that the danger of being cheated by a casino is not them dealing you seconds, or hitting you with a cooler. They have a much bolder, and more effective way of cheating. If you lose, too bad. If you win, they just refuse to pay.
Recently I was told one of the most egregious cases I have ever heard of. The Playboy Club in London stole the money of two players for counting cards. The two players played in the casino for 3 or 4 nights, and left their money on deposit with the casino. On the last night they went to withdraw their money, and the casino told them they would not give them their deposit money back because they had been counting cards, and card counting was against the rules of their club. The money stolen was over £30,000 or approximately $50,000. They weren't accused of cheating, just counting cards. I know nothing of British law, but I can only infer that there has never been a court case testing the legality of counting. Now maybe they know they will lose the case, but want to harass people from another country who will have to fight a court battle from overseas. Or maybe they were emboldened by the awful decision in the Phil Ivey case.
I grew up reading stories of the old "road gamblers". Doyle Brunson told me, "First we had to win the money, then we had to collect the money, and then we had to get out of town with the money." Between the casinos stealing from players, and then the police and their asset forfeitures, I can't say much has changed.
Did I mention that the Playboy Club is owned by Caesars Entertainment? Stay classy Mr. Loveman.
Recently I was told one of the most egregious cases I have ever heard of. The Playboy Club in London stole the money of two players for counting cards. The two players played in the casino for 3 or 4 nights, and left their money on deposit with the casino. On the last night they went to withdraw their money, and the casino told them they would not give them their deposit money back because they had been counting cards, and card counting was against the rules of their club. The money stolen was over £30,000 or approximately $50,000. They weren't accused of cheating, just counting cards. I know nothing of British law, but I can only infer that there has never been a court case testing the legality of counting. Now maybe they know they will lose the case, but want to harass people from another country who will have to fight a court battle from overseas. Or maybe they were emboldened by the awful decision in the Phil Ivey case.
I grew up reading stories of the old "road gamblers". Doyle Brunson told me, "First we had to win the money, then we had to collect the money, and then we had to get out of town with the money." Between the casinos stealing from players, and then the police and their asset forfeitures, I can't say much has changed.
Did I mention that the Playboy Club is owned by Caesars Entertainment? Stay classy Mr. Loveman.
Friday, December 12, 2014
Gambling With an Edge - guest Jake Jacobs 2
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Thursday, December 4, 2014
Gambling With an Edge - Rick Blaine author of Blackjack Blueprint
Our guest this week is Rick Blaine, author of Blackjack Blueprint. This is a terrific book for counters, newly updated in May, 2014.
Thursday, November 20, 2014
Gambling With an Edge - guest David Switzer
The guest this week is David Switzer. David just received two masters degrees from UNLV, and we will be discussing his professional paper, “Casinos can increase table games revenue by properly training employees and adjusting many of the procedures currently used on their games that are aimed at stopping advantage players.”
Friday, November 14, 2014
Gambling With an Edge - guest Jake Jacobs
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Thursday, November 6, 2014
Gambling With an Edge - guest Phil Hellmuth
Our guest this week is poker professional Phil Hellmuth, aka "The Poker Brat."
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Thursday, October 30, 2014
Gambling With an Edge - No guest this week
No guest this week. Bob and I discuss reader emails, as well as current gambling in the news.
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Wednesday, October 29, 2014
Mr. Marty
In 1986 I got a phone call from a friend named Alan. He told me there was a really great blackjack game at Walker Hill casino in Seoul, S. Korea. I forget all the rules, but the game had early surrender vs. 10, and 6 cards was an automatic 1/2 win. All in all the player had an edge off the top without any counting of cards.
Alan recommended I stay at an inexpensive locals hotel called the Kaya, and get in touch with an American card counter named Marty Itzkowitz. Marty was an ex-New York cop, who had moved to Vegas, dealt craps, became a craps boss at Sam's Town, discovered card counting, quit his job, and somehow ended up in Korea. Marty had the answers. He knew where to change money on the black market, where the illegal underground casinos were, which ones cheated, and where the girls who liked Americans hung out.
I made a few phone calls, and heard rumor that Marty might be staying in the same hotel. I went to the front desk, and asked if Marty Itzkowitz was staying there. The front desk clerk took a step back and I saw fear in his eyes. "Oh, Mr. Marty is in 302." You see, Marty was the quintessential "ugly American." The first thing you noticed was his bulging eyes.
Imagine a 300 pound, loud, frothing, Marty Feldman. He hated everything, and everybody. But he said things that were so outrageously over the top that it was hard to take him seriously. He claimed to hate Korea, and Koreans, yet he managed to marry at least a couple, and spent years living there. Then at some point he changed from blackjack to poker, and from Korea to the Philippines, at which point he switched his loathing to all thing Filipino. Any blackjack player who spent time in Korea in the late 80s will have some Mr. Marty stories.
Well now there is a new mystery by Jake Jacobs, The Battered Butterfly
. It takes place in Manilla, and the lead character is a professional gambler named Lefty Markowitz. "Lefty, an ex-New York cop turned professional gambler, is two hundred and eighty pounds of misanthropy on the prowl in Manila. All he wants is to be left alone." The dedication is to Marty, so this isn't all a coincidence.
Lefty finds himself the prime suspect in a murder. It seems a bar girl was murdered after Lefty spent the night with her. (Marty was fond of bar girls.) At the same time Marty is much more interested in tracking down a German named Carl that ripped him off in a poker game.
I read a lot of mysteries, and one of the things that separates the good from the bad is a sense of place. Here is the opening paragraph of the book.
"The rain came, and should have washed down the streets. Falling, it should have captured the particles of dust, the fog of auto exhaust, the reek from stray fires smoldering in piles of garbage, tackled them all, and dragged them to earth. It should have washed the grime and peeling paint down the walls of the buildings. It should have swept all the discarded newspapers and crushed cigarette butts and rotting banana peels from the sidewalks, swept everything into the gutter, so the city was clean and fresh, renewed. Instead, the rain came too fast. The streets filled with water faster than the antiquated sewers could cope. They backed up like a plugged toilet, so that pedestrians could expect wet tissue paper and dog turds plastered to their calves. In Manila, even the rain didn't work right."
Jake is a former professional blackjack player (played on the Hyland team among others) and a perennial on the Giant 32, a list of the 32 best backgammon players in the world. He has written two other book, both on backgammon, and contributes a monthly column to Gammon Village. We plan to have him on Gambling With an Edge in a few weeks to talk about the book, Marty, and some of his crazier gambling exploits. Here is his book on Amazon. The Battered Butterfly
Alan recommended I stay at an inexpensive locals hotel called the Kaya, and get in touch with an American card counter named Marty Itzkowitz. Marty was an ex-New York cop, who had moved to Vegas, dealt craps, became a craps boss at Sam's Town, discovered card counting, quit his job, and somehow ended up in Korea. Marty had the answers. He knew where to change money on the black market, where the illegal underground casinos were, which ones cheated, and where the girls who liked Americans hung out.
I made a few phone calls, and heard rumor that Marty might be staying in the same hotel. I went to the front desk, and asked if Marty Itzkowitz was staying there. The front desk clerk took a step back and I saw fear in his eyes. "Oh, Mr. Marty is in 302." You see, Marty was the quintessential "ugly American." The first thing you noticed was his bulging eyes.
Imagine a 300 pound, loud, frothing, Marty Feldman. He hated everything, and everybody. But he said things that were so outrageously over the top that it was hard to take him seriously. He claimed to hate Korea, and Koreans, yet he managed to marry at least a couple, and spent years living there. Then at some point he changed from blackjack to poker, and from Korea to the Philippines, at which point he switched his loathing to all thing Filipino. Any blackjack player who spent time in Korea in the late 80s will have some Mr. Marty stories.
. It takes place in Manilla, and the lead character is a professional gambler named Lefty Markowitz. "Lefty, an ex-New York cop turned professional gambler, is two hundred and eighty pounds of misanthropy on the prowl in Manila. All he wants is to be left alone." The dedication is to Marty, so this isn't all a coincidence.Lefty finds himself the prime suspect in a murder. It seems a bar girl was murdered after Lefty spent the night with her. (Marty was fond of bar girls.) At the same time Marty is much more interested in tracking down a German named Carl that ripped him off in a poker game.
I read a lot of mysteries, and one of the things that separates the good from the bad is a sense of place. Here is the opening paragraph of the book.
"The rain came, and should have washed down the streets. Falling, it should have captured the particles of dust, the fog of auto exhaust, the reek from stray fires smoldering in piles of garbage, tackled them all, and dragged them to earth. It should have washed the grime and peeling paint down the walls of the buildings. It should have swept all the discarded newspapers and crushed cigarette butts and rotting banana peels from the sidewalks, swept everything into the gutter, so the city was clean and fresh, renewed. Instead, the rain came too fast. The streets filled with water faster than the antiquated sewers could cope. They backed up like a plugged toilet, so that pedestrians could expect wet tissue paper and dog turds plastered to their calves. In Manila, even the rain didn't work right."
Jake is a former professional blackjack player (played on the Hyland team among others) and a perennial on the Giant 32, a list of the 32 best backgammon players in the world. He has written two other book, both on backgammon, and contributes a monthly column to Gammon Village. We plan to have him on Gambling With an Edge in a few weeks to talk about the book, Marty, and some of his crazier gambling exploits. Here is his book on Amazon. The Battered Butterfly
Thursday, October 23, 2014
Gambling With an Edge - guest Bob Nersesian #11
The guest this week is Bob Nersesian. Bob is a frequent guest to the show, and always entertaining. Bob is the lawyer who advocates for the players against the casinos, and has successfully sued many Vegas casinos on the behalf of players. He is also the author of Beat the Players. This week we discuss the Phil Ivey decision in London, and asset forfeitures.
Thursday, October 16, 2014
Gambling With an Edge - guest Ken Adams
The guest this week is Ken Adams. Ken is a prolific writer about the gambling industry. You can read his work at cdcgamingreports.com.
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The Phil Ivey case
For those not familiar with the Ivey case let me give you a brief recap. In August of 2012 Phil Ivey, and a partner named Cheung Yin Sun played Punto Banco at Crockfords in London. He won 7.7 million pounds over 2 days. (Spoiler alert - he was edge sorting.) Crockfords said they would wire him the money, and then stiffed him. He sued to get the money he won, and on October 8 the judge ruled that Crockfords did not have to pay because Ivey cheated. A few facts about the case:
"There is a complete dearth of authority on cheating at common law, at least in the civil context. This is unsurprising. Although at common law gaming contracts were enforceable in principle, though sometimes not in practice on particular facts, section 18 of the Gaming Act 1845 provided that all contracts or agreements by way of gaming and wagering shall be null and void. No suit could therefore be raised by or against a party to a gaming contract alleged to have cheated. There is, therefore, no case law on what amounts to cheating."
"This is, as far as I know, the first case in which the question whether or not the conduct of a party to a gaming contract amounted to cheating has had to be determined in an English court."
"There is no commonly accepted view amongst those who play Punto Banco about whether edge-sorting does or does not amount to cheating. David Mills, a levelheaded and experienced English expert in casino gambling considers that it does. Towards the end of 2013 he conducted a survey amongst seven of the eight biggest casino operators in the UK. He found that four out of the seven considered that it was cheating and two out of seven considered it was not a legitimate practice. The remaining one considered that it was not cheating, nor illegitimate. Dr. Jacobson, to whom I have already referred, who has extensive experience in the USA of casino gambling both as a consultant to casinos and, between 1997 and 2005, as an advantage player himself, considers that it is not cheating. His informal survey, as he put it, of "hundreds of people" has provided the answer that the general but not universal view is that it is not cheating. I have not found these expressions of opinion to be helpful. Mr. Mills did not canvass gamblers and, as far as I can tell, Dr. Jacobson's survey was unsystematic. Neither establishes a generally accepted view."
RWM: Really? This is the way they approached this? The casino expert went and asked a bunch of casino operators what they think, and the other side did an informal survey of hundreds of people?
"Crockfords maintain that the claimant practised (sic) deception upon them by pretending to be superstitious when he was not, for example, by making a fuss over lucky Crockfords hats, which he and Ms Sun wore, and by asking for "lucky" cards and for a Chinese croupier on the ground that he got lucky when playing with Asian women."
I can go on, but below you can read the judgement for yourself. We will be discussing this with Ken Adams on tonight's Gambling With an Edge, and again next week with attorney Bob Nersesian.
- The casino used new cards for each shoe. Ivey played 4 shoes before asking to keep the same cards. Since Ivey and his partner were not touching the cards the casino agreed.
- They were using a brand of cards called Angel. (Not Gemaco)
- Ivey asked that the casino use a machine to shuffle the cards.
- At the end of the first night's play Ivey asked if he could continue the next day with the same cards.
"There is a complete dearth of authority on cheating at common law, at least in the civil context. This is unsurprising. Although at common law gaming contracts were enforceable in principle, though sometimes not in practice on particular facts, section 18 of the Gaming Act 1845 provided that all contracts or agreements by way of gaming and wagering shall be null and void. No suit could therefore be raised by or against a party to a gaming contract alleged to have cheated. There is, therefore, no case law on what amounts to cheating."
"This is, as far as I know, the first case in which the question whether or not the conduct of a party to a gaming contract amounted to cheating has had to be determined in an English court."
"There is no commonly accepted view amongst those who play Punto Banco about whether edge-sorting does or does not amount to cheating. David Mills, a levelheaded and experienced English expert in casino gambling considers that it does. Towards the end of 2013 he conducted a survey amongst seven of the eight biggest casino operators in the UK. He found that four out of the seven considered that it was cheating and two out of seven considered it was not a legitimate practice. The remaining one considered that it was not cheating, nor illegitimate. Dr. Jacobson, to whom I have already referred, who has extensive experience in the USA of casino gambling both as a consultant to casinos and, between 1997 and 2005, as an advantage player himself, considers that it is not cheating. His informal survey, as he put it, of "hundreds of people" has provided the answer that the general but not universal view is that it is not cheating. I have not found these expressions of opinion to be helpful. Mr. Mills did not canvass gamblers and, as far as I can tell, Dr. Jacobson's survey was unsystematic. Neither establishes a generally accepted view."
RWM: Really? This is the way they approached this? The casino expert went and asked a bunch of casino operators what they think, and the other side did an informal survey of hundreds of people?
"Crockfords maintain that the claimant practised (sic) deception upon them by pretending to be superstitious when he was not, for example, by making a fuss over lucky Crockfords hats, which he and Ms Sun wore, and by asking for "lucky" cards and for a Chinese croupier on the ground that he got lucky when playing with Asian women."
I can go on, but below you can read the judgement for yourself. We will be discussing this with Ken Adams on tonight's Gambling With an Edge, and again next week with attorney Bob Nersesian.
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