Gambling With an Edge - Tax Adviser Russell Fox

Our guest this week is tax adviser Russell Fox.  Russell is a tax adviser with many professional gamblers as clients.  We talk about the new tax laws, and how they effect both professional gamblers, as well as the recreational player.

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Show Notes

Gambling With an Edge - Super host Steve Cyr

Bob and I talk to super-host Steve Cyr. We received many questions for hosts from our listeners, and many of them made it into the podcast. We will have Steve on again in the near future to address more of your questions. You can always submit questions to us at gamblingwithanedge@gmail.com. 

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Show Notes

Gambling With an Edge - Listener emails

We have no guest this week.  Bob and I answer listener emails, and then discuss lessons we learned about gambling from starting out in backgammon.

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Gambling With an Edge - Maria Konnikova

Bob and Richard are joined by Maria Konnikova, a writer and psychologist who contracted with poker star Eric Seidel to teach her enough tournament poker so she could write a book about it. Turns out she was pretty good at poker. The book has been delayed as she pursues poker full time.

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Show Notes

Maria's website  https://www.mariakonnikova.com/

The Confidence Game  https://amzn.to/2xpjtUW

Mastermind  https://amzn.to/2L7wPaq

Gambling With an Edge - Sports betting coming

Bob and Richard are joined by four sports betting experts to discuss the recent Supreme Court ruling legalizing sports betting across the country. Anthony Curtis, Frank B, Captain Jack, and Jake (aka The Chairman) all chipped in with their opinions.

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Show Notes

[01:35] The situation with the union and the strike.

[05:04] The integrity fee, royalties, and the leagues.

[12:36] Is the new change good for the AP?

[18:58] Anticipating which state will legalize sports betting first.

[27:11] The effects of lobbying

[32:13] New casinos and promotions

[35:33] Future of other online gambling

[38:21] How would legalizing sports betting affect Nevada and New Jersey?

[44:47] Nationally legalizing sports betting

[49:24] Indian tribes and sports betting 

Weighing The Odds in Sports Betting by King Yao

Conquering Risk: Attacking Vegas and Wall Street

Sharp Sports Betting by Stanford Wong

Gambling With an Edge - The Big Blackjack Team

This week we are joined by "Thea" and "Theo," a brother-sister combination who talk about the early days of their blackjack team-playing experiences. This pair went on to run one of the biggest and most successful blackjack teams in history.

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Show Notes

[00:46] Origin story

[07:37] The expansion of the team

[19:25] Getting away with it

[21:35] Being a female player & Backoffs

[30:06] Stories before the team became big

[33:45] 150+ hrs losing streak and early lessons

[40:45] Cross-polination with other Blackjack teams

[42:24] Rigorous checkout process

[49:06] Compensation structure

[54:02] Investors & time commitments of bankroll & administrative expensive

Gambling With an Edge - Seth Palansky, WSOP 2018

This week Bob and Richard interview Seth Palansky, Vice President of Communication for the World Series of Poker, which begins later this month

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Show Notes

Gambling With an Edge - Blackjack Ball 2018

We have 3 guests this week discussing the 2018 Blackjack Ball.  Max Rubin who hosts the Ball, Wally Simmons, the latest inductee into the Blackjack Hall of Fame, and Wahoo who won this year's skills competition.

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Show Notes

[00:45] Why was the BJ Ball held in Spring this year?

[04:37] Richard’s role in this year’s BJ Ball event

[05:43] the bet: who is going to be inducted into the hall of fame

[06:11] What being inducted into the Blackjack hall of fame mean to Wally?

[07:54] Favorite questions of guests and the hosts

[15:49] Wahu and Attorney WRX

[20:49] The finalists and the 4 contests to determine the winner

[42:41] The guests and hosts' favorite parts of the Blackjack Ball  

[48:19] A quiz on counting system 

[50:27] True v.s. False question regarding a first lady

[54:05] Countermeasures and bottom lines

Gambling With an Edge - Dr Alan Schoonmaker

Bob and Richard interview industrial psychologist Alan Schoonmaker who has written a large number of books and articles about the psychology of poker

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Show Notes

[00:39] Introduction to Dr. Alan Schoonmaker

[05:27] How negotiation relates to poker

[07:13] The importance of game selection in business

[15:06] “Your worst enemy is yourself” Why it’s more important to study yourself than to study your opponents

[20:07] Game selection differences between poker and VP

[25:30] Compulsive gamblers and their first gamble

[29:37] Herbert Simon and evaluating information

[37:40] Dan Ariely

[39:18] “Business is a Poker Game"

[47:13] Inspirations for his book writing

Dr. Alan Schoonmaker’s website: https://dr-al-schoonmaker.net/

“Negotiate to Win, Gaining the Psychological Edge” by Alan Schoonamaker https://amzn.to/2I99wMe

“Business is a Poker Game” by Alan Schoonmaker: https://amzn.to/2I8tSoC

Gambling With an Edge - blackjack player Lone Wolf

Bob and Richard interview "Lone Wolf," an east coast blackjack player who has primarily worked alone.

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Show Notes

[00:52] Are 6 to 5 Blackjack beatable? If so, how?

[04:47] Lonewolf’s origin story

[06:55] His first time in casino and the progression of the BR

[16:03] BR by the year 3

[17:56] When did the heat start coming?

[20:08] How much Lonewolf has been playing

[21:06] Swtiching to Blackjack variants

[25:11] Other versions than Spanish 21

[26:09] Blackjack Switch

[27:02] Getting in touch with Lonewolf

[28:25] Side counts

[29:21] The origin of the name Lonewolf

[30:45] Family reactions

[36:47] Lonewolf’s AP daughter and team play 

[43:44] Blackjack writing 

[45:32] Backoffs

[50:57] Playing rated

[54:45] For a player with 2 yrs practice, 10k BR planning a 5 day trip to the US. Where should he go?

"Blackbelt in Blackjack” by Arnold Snyder: https://amzn.to/2rBLVxB

"Professional Blackjack” by Stanford Wong: https://amzn.to/2rtH6X2

Gambling With an Edge - guest attorney Bob Nersesian

Our guest this week is attorney Bob Nersesian. The primary source of questions for Mr. Nersesian were emails from our listeners.  If you have questions you would like Bob Nersesian to answer on future shows please send them to us at gamblingwithanedge@gmail.com.

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Show Notes

[00:43] For a non-US citizen who is mistreated, are his rights different than a US citizen?

[02:17] If a passenger in a driver's car has substances, is he in a legal jeopardy due to his passenger’s substances?

[06:44] Is the Paster v.s. Garcia case regarding mistreatment in tribal casino accurate and final?

[11:43] Why are there no real craps or roulettes in CA?

[15:20] An AP in southern California with a prospective case against a tribal casino 

[15:54] A tribe in NY has two satellite casinos, but not a part of reservation. Would the case proceed because the casinos are in US soil?

[17:51] Machine mispay case

[22:16] The legality of a woman entering the WSOP dressed as a man

[25:49] Is preferential shuffling in Blackjack legal?

[31:05] Bob Nersesian’s take on Phil Ivey case

[34:33] Is a phone charging machine where you could play VP a gambling machine?

[40:36] Can other states extradite you if Nevada issues a warrant for unpaid marker?

[42:44] Is it legal to show somebody else’s player’s card as opposed to playing as a refusal?

[44:25] Would Bob Nersesian come to answer Q&A for your hourly rates?

[46:55] Are VP machine required to show pay schedule?

[47:33] A VP player was trespassed. Does that extend to the poker room at a related property?

[54:46] Can a security guard demand to see your cellphone?

[56:17] If a blacjack team video tape a member’s play to later discuss errors, is that a crime?

"The Law for Gamblers” by Bob Nersesian: https://amzn.to/2I4YQCc

"Blackjack and the Law" by I Nelson Rose and Robert Loeb: https://amzn.to/2KP59I3

The Black Widow WSOP reference: https://www.lasvegasadvisor.com/gambling-with-an-edge/podcast-poker-pro-sia-layta/

Gambling With an Edge - Millennial Gambler

Our guest this week is "Millennial Gambler," a young Canadian player who parlayed online gambling and the rise of Bitcoin to go from a bankroll of $250 to more than a million dollars.

Two important notes:
This episode is about Internet gambling which is illegal in some places.  Know your laws before you do this. Second, it is paramount that if you play any online casino with a bonus that you carefully read the terms and conditions.

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Show Notes

[00:47] A humble strategy for Pokey 

[03:56] The origin of MG’s name 

[07:07] MG’s start as an intelligent gambler

[10:49] What happened in 2009 and Bitcoin

[27:19] Camouflage bets

[36:51] Total Rewards, social media, and voluntary child labor

[43:50] The Las Vegas story

[46:03] Other gambling interests

[48:08] Watchdog websites for online gambling

[49:49] Issues over trust between partners

[53:21] Online resources on online casinos

Blackjack Blueprint: https://amzn.to/2H9tTcx

Comp City:  https://amzn.to/2EiZTaM

Wizard of Odds: https://wizardofodds.com/

Pogg: https://thepogg.com/

Gambling With an Edge - German BJ player, Ultimate

Our guest today is a German blackjack player who posts under the name of 'Ultimate' on various forums. He tells us about extended trips in the United States and Europe --- how they are similar and how they are different.

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Show Notes

[00:51] How competent was Ultimate before and after the Blackjack Apprenticeship bootcamp

[05:15] Ultimate’s extended trip in LV

[16:08] When should you cash out the chips?

[20:55] The losing streaks

[25:07] Traveling with money 

[28:33] Blackjack in Europe 

[41:03] Game protection and crossing borders with money in Europe

[46:39] Future plans for Ultimate

[48:11] Was Ultimate always playing solo?

[49:46] Responses from family and friends

[52:17] A free ride from a Samaritan policeman

Blackjack Apprenticeship: https://www.blackjackapprenticeship.com/

Gambling With an Edge - Sia Layta

Our guest is Sia Layta --- a pseudonym of a woman whose about-to-be-published book is called Black Widow Poker. It's about the advantages and disadvantages of women playing poker. In addition, Sia is planning to enter the Main Event in this year's World Series of Poker dressed as a man. Seth Palansky, WSOP Communication's Director, has said that dressing in this manner is against WSOP rules and Sia will be removed from the event and her entry fee forfeited if discovered. Bob and Richard also dip into their mailbag.

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Show Notes

[00:49] The origin of the nickname “Black Widow" and the advantages of being a man in poker

[05:35] Cash games v.s. tournaments

[06:26] Playing poker disguised as a man

[09:48] Black Widow’s first time dressing as a man

[16:49] WSOP rule on revealing identity

[18:57] Go Fund Me page

[19:41] The origin of the name Sia Layta

[20:59] Advantages of being a woman at a poker table

[27:05] Will the pictures in her book inadvertently reveal her identity?

[29:13] Playing the main event v.s. satellites

[30:13] Women’s representation in the world of poker

[37:31] A strategy deviation in Triple Double Bonus

[40:12] Paul Magriel’s passing

[43:18] Are good VP games still available? Do you have to learn all the strategies? What kind of BR do I need?

Black Widow Poker: http://black-widow-poker.com/

Go Fund Me page: https://www.gofundme.com/blackwidowpokerlegalfund

“Backgammon” by Paul Magriel: https://www.amazon.com/Backgammon-2004-Paul-Magriel/dp/1593860234

VPfree: http://www.vpfree2.com/

Bob’s section on Gambling With an Edge: https://www.lasvegasadvisor.com/gambling-with-an-edge/author/bob-dancer/

Gambling With an Edge - Professional card counter, Joe

Our guest this week is a professional card counter named Joe.  Joe is a young blackjack player with the expressed goal of getting kicked out of every casino in the country. We are also joined by Colin Jones, who was in town for a Blackjack Apprenticeship boot camp.

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Show Notes

[00:42] The Irish Roulette player

[03:29] Joe’s goal in the beginning

[04:11] Joe’s origin story

[07:08] Building the bankroll

[10:49] 200hr losing streak

[14:57] Team play and thoughts on counting systems

[18:37] Heat, overplays, and tourism

[30:14] Tipping

[33:35] Playing internationally

[39:09] Betting less for longevity

[40:59] Joe’s two experiences with illegal detainments

[43:35] Wearing disguises

[46:28] Casinos in the U.S. that Joe hasn’t played yet

Blackjack Apprenticeship: https://www.blackjackapprenticeship.com/

Gambling With an Edge - Slot Expert John Robison

Our guest this week is John Robison, author of The Slot Expert’s Guide to Playing Slots. John has been a gaming writer for more than twenty years and we talk about some of the inner workings and misconceptions regarding slot machines.

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Show Notes

[01:39] John’s thinking on slot machines and common misunderstandings

[11:37] The reality of loosening and tightening of slot machines

[13:44] How the casinos set their theoreticals

[22:43] Class 2 machines v.s. Class 3 machines

[25:09] Fruits in England

[29:47] The Big Time Bonus in Station Casinos 

[34:24] How do slots randomly trigger bonus events?

[38:37] Are the slot machines next to the restrooms are looser?

[43:01] Are no-name slot machines looser than licensed slot machines?

“The Slot Expert’s Guide to Playing Slots” by John Robinson: http://amzn.to/2oMFBSd

"Slot Machines: A Pictoral History of the First 100 Years” by Marshall Fey: http://amzn.to/2Gk9Ck4

Indian Gaming Regulatory Act: https://en.wikipedia.org/wiki/Indian_Gaming_Regulatory_Act

Gambling With an Edge - Geoff Freeman of the AGA

Our guest today is Geoff Freeman, President and CEO of the American Gaming Association. The AGA is the chief lobbying organization for the casino industry. We discuss the coming spread of sports betting in the United States, and other issues that effect both the casino industry and the players.

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Show Notes

[00:27] Is it fair to say that American Gaming Association is a chief lobbying organization for gaming in the United States?

[01:09] Sports betting and PASPA

[03:16] Will there be national or state laws regarding sports betting?

[04:51] Structuring the gaming taxes to ensure sports bettors stay in the game

[07:05] The prospect of reducing the WTG threshold

[09:41] Confiscating cash by law enforcers

[11:35] Are tribal casinos’ memberships to AGA a recent development? How many tribal casinos are part of the AGA?

[20:49] Mass shooting in Las Vegas 

[23:09] 5 years ahead: the casino expansion in the U.S. 

[27:24] AGA’s view on online gaming and why did online sports betting move faster than online poker?

[31:11] Millennials and skill based gaming

[34:43] A proper time to end a Blackjack and Video Poker session

[38:50] Civilians pointing out dealers’ mistakes in favor of the player

[39:54] Cover plays in Blackjack counting

[41:46] Are differences in the basic strategy for Blackjack S17 and H17 big enough to learn separate strategies?

American Gaming Association: https://www.americangaming.org/

PASPA: https://en.wikipedia.org/wiki/Professional_and_Amateur_Sports_Protection_Act_of_1992

Gambling With an Edge - listener emails

No guest this week.  Bob and Richard discuss, in blackjack the cost of cover, and whether to play smaller stakes to stay under the radar, or play higher stakes, get barred, and move on.  We also discuss the difference between house edge and casino hold, and the new rules in the UK for online casinos.  Will these effect online casinos the way Atlantic City's no barring policy changed things for card counters?

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Show Notes

[01:01] Richard’s trip abroad

[01:24] The downfall of Steve Wynn

[03:53] Why is it much easier to find pictures of Bob than Richard?

[08:24] The new rules for online casinos in U.K. How will it affect AP's?

[12:13] Merits to cashing out credits after $400-500 wins. Will it convince the machine to be more generous because it thinks a new player is sitting down?

[13:02] For playing higher denomination VP, can you go to the cashier’s cage and get betting slips instead of feeding $100 bills to the machine?

[13:31] In Blackjack, why do many casinos limit the number of split hands to maximum of 4?

[15:00] Sometimes in negative count, the player bets table minimum and the dealer keeps busting anyway. Should he stick with it or go with the flow?

[17:01] A good strategy for Sic Bo or Baccarat

[17:53] What is the status of “Inside the Edge?”

[19:59] Using cover for card counters 

[26:57] Playing as a refusal for smaller stakes or signing up for a card and playing bigger

[34:17] Studying references for sports betting, college basketball in particular

[35:20] 2017 report, LV Blackjack tables held 15% of every dollar wagered. What does it mean?

[40:47] The OPP count

[42:49] Playing VP for comps

[52:30] Any value for getting "Video Poker for the Intelligent Beginner" when the listener already has Jacks or Better guide and the Video Poker for Winners software

Gambling With an Edge - Frank B and Anthony Curtis

Our guests this week are Frank B. and Anthony Curtis. We discuss football contests, sports betting in general, and other things happening in Vegas.

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Show Notes

[00:53] A casino cancelling an sports arbitrage bet

[08:49] Why do sports books hate arbitrage players?

[14:24] Can you profit from betting the opposite of a weak sports bettor?

[20:36] A meter money opportunity at the Lucky Dragon

[25:41] Partnering up in football contests

[31:53] Expert witness opportunity with Bob Nersesian

[38:17] Max Rubin’s ratholing story in his book, “Comp City"

[40:23] When is the best time to rathole?

[44:18] Highlights in this year’s LVA book

[47:58] New books coming out

[50:39] The implications of the Supreme Court decision on sports betting

Gambling With an Edge - listener emails

We have no guest this week.  Bob and I again reach into the mail bag to answer listener questions.

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Show Notes

[03:25] What is the protocol for tipping floor personnels and hosts in video poker?

[09:01] "The Best Blackjack Machine on Earth”

[12:02] How should I decide whether to play more aggressive or not? 

[14:42] How do I network with other AP’s?

[18:13] What is the life of an AP now?

[25:40] Why can’t players play standing up?

[29:37] Using a Basic Strategy card at the table 

[30:58] Is Las Vegas a Wasteland?

[32:24] Getting a P.O.box as an out of state visitor or a local.

[38:23] What is a stadium Blackjack game?

[39:54] An update on Bob’s student

[43:20] Teaming up with a friend and managing compensation

[47:19] Are some VP machines rigged in casino’s favor?