Blackjack Ball 2013

Last weekend was the 17th annual Blackjack Ball. This is my favorite party of the year since it allows me to see so many people that I only see once a year. It is a gathering of professional gamblers of the highest level.

Where to eat in Las Vegas

I was in Las Vegas this weekend for the Blackjack Ball which I will describe in another post. But I thought I would take some time to pass along some of my favorite places to eat outside the casinos. I am not going to write long reviews of these places, but I'm linking each of them to their Yelp page so you can see reviews from other people. The fact that I am including them here means I like them enough that I go back time and again to these places.

We arrived on Friday afternoon, and stopped for lunch at the Sunrise Cafe. This is a great spot for breakfast or lunch. They have omelettes, sandwiches, and wraps, and are open from 7am to 3pm.

They are located at 8975 S. Eastern which is on Eastern just north of the 215 Freeway.

Dinner Friday was at Tofu Hut. This is a small Korean restaurant located on Spring Mountain in Chinatown.

They have Korean BBQ, and really great soups. The address is 3920 Spring Mountain Rd. and they are open for lunch and dinner.

Late Friday I went to meet a group of friends at Komol. Komol is in Commercial Center, and is a Thai restaurant. It is right across the parking lot from Lotus of Siam.

Lotus of Siam has been talked about as one of the best Thai restaurants in the US. Komol is almost as good, and you will have a much easier time getting in without a reservation.

Saturday morning we had breakfast at The Hash House.

The Hash House is another great breakfast spot. They make their own hash of course, but they also make their own hot sauces, and jellys. Or is it jam? I never understood the difference. Anyway, they have 6 or 8 flavors ranging from jalapeno to the more normal flavors. Check it out.

Saturday night we attended a dinner party so no restaurants to report there.

We took off Sunday morning, and met friends for breakfast at The New Day Cafe.

This is a good breakfast place in the South East part of town, located at 467 E Silverado Ranch Blvd. Ste 100. This is just down the street from the South Point Casino, so a good location for you people on the south end of town.

For you people that like to visit Las Vegas you really should take the time to get out of the casinos and explore some of the local's joints. There is some excellent food to be had, and at half the price.

Gambling With an Edge - guest Angela Wyman

The guest this week is Angela Wyman, model, actress, and former party pit dealer.

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Quote of the day

"Just when I thought I was out... they pull me back in."
Michael Corleone in The Godfather III

Like Michael Corleone I have been pulled back in again. Starting next week I will be back cohosting Gambling With an Edge. Most episodes I will have to do over the phone, but I'm happy to be back doing the show on a regular basis.

To card, or not to card. That is the question.

There is a lot of debate on the internet on whether or not one should use a player's card. As my loyal readers know, I usually fall on the side of not using one. But I realized recently that the reason I advocate not using a player's card is because I assume I am talking to professional advantage players. But many of my readers are not professionals, so it begs the question: should you use a players card or not? Like many questions the answer is... it depends. Let's look at some different types of players, and who should use a card, and who should not.

The recreational gambler.
You like to gamble, and don't count cards or do anything that might get you backed off in a casino. Of course you should use a player's card. You should sign up for every player's card you can, and try to learn as much as you can about how their system works so you can take advantage of as many freebies as possible. When you gamble you are giving money to the casino, so you might as well try to get as much of it back as you can. Pick up a copy of Comp City to aid in that pursuit. Remember, the squeaky wheel gets the grease, so don't be afraid to ask. Can I get a free room, buffet comp, steak house? The worst that happens is they say no. Also, after playing ask the boss, "How much did you have as my buy-in?" Make sure to correct him if he had it wrong.

The Professional.
Just say no. I promise you will regret it. Don't do it... except when you should. If I am flying into Peoria to play a game worth $500 an hour, I can afford pay for my own room, and I have $10 for the buffet. Professionals realize that comps are an advantage play in and of themselves. For example, say you can go to The MGM for a weekend, and get tickets for Ka, tickets for a Paquiao fight, and they will reimburse your plane tickets (even though you live in Vegas). You can get $2,500 cash for all that. A pro is willing to give them 5 hours of high-limit break even play. That equals $500 per hour in ev right? Why would you want to mess that up by counting cards or doing something else that could get you backed off? Your ev comes from the comps, not the play.

Do not fall for the myth that you can't play as a refusal. In my interview with table games director Mike Patterson he said that 30-50% of their players are refusals. Are they looking at all of them? Of course not. Save your good name for the juicy promotions. But say you disagree. Say you use your player's card until the day you get backed off or barred. Now your name is toast everywhere. Now what are you going to do? Now you can't use your name, so... now you play as a refusal? Now you can't take advantage of a great promotion or "invitation only" event even if you wanted to. If you now are going to play as a refusal wouldn't it have been better to be one to start with and still have a good name? There are two other choices; get a legal name change, and hopefully you have learned your lesson and will keep the new name reserved for special things, or use a fake ID. I highly recommend you DO NOT use a fake ID. In the old days, pre 9/11, this was not such a big deal. Now it is a very big deal. My son has a close friend who was recently busted with a fake ID. He is 19 and stupid, and like many college kids had a fake ID so he could go drink. He was charged with a felony. I know several people who have been busted with fake IDs, and for every one of them it was a major hassle. One of them has a felony conviction. (Fortunately the 19 year old got off after spending thousands in attorney fees.)

The amateur counter or semi-pro
These are the people I hear form the most regarding player's cards. They don't play for a living, but approach counting in a serious way. They tell me, "I don't have the bankroll to play high enough for your MGM example, and comps represent a significant portion of my ev." I get it. In fact, for most of you the comps are worth more than the blackjack. But ask yourself, "what is my time worth?" With very little play at a Caesars property, or a Coast property you can get tons of free rooms in the mail. I know several people who lived in hotel rooms in Vegas for months without ever paying for a room or a meal. I know one guy who did this for about 2 years! Isn't it worth a few hours of your time to rack up these comps? Say you figure 3 days with room and food is worth $600. If you can get those comped with 3 hours play, that is $200 per hour. Your counting is probably only earning you $50 and hour. So earn the comps in a way that won't get you barred. Surely your name is worth that. You may want to add some video poker to your repertoire  Video poker is a really good way to earn comps, and get cash in  the mail. Use your card for the video poker, but when you head over to the tables play as a refusal.

The bottom line is this. Your name is valuable. Its main value is it gives you the ability to earn comps. So only use it when you are specifically using it to earn those comps.

Quote of the day

"If you see a guy here in Reno, and then you see him a month later in a casino on one of the Caribbean islands, you know he's working."

Richard Marcus

American Roulette

Gambling With an Edge - guest Ted Straton

The guest this week is Ted Straton talking about how to live free in Las Vegas by using comps.

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Gambling With an Edge - guest Stanford Wong

The guest this week is Stanford Wong. Wong is on to talk about his newsletter Current Blackjack News, and real estate investing in Las Vegas.

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Name That Casino

It's everyone's favorite game show - Name That Casino. Three casinos, three different cities.

What? They never heard of shooting craps?

Gambling With an Edge - guest Mark Billings

The guest this week is Mark Billings, author of The Bias Wheel Handbook, and The Ultimate Edge. This episode focuses on roulette.

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Gambling With an Edge - guest Michael Konik

The guest this week is Michael Konik, on to talk about his new novel, Becoming Bobby.

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Gambling With an Edge - guest John Chang

This week's guest is John Chang, head of the famous MIT blackjack team featured in the movie 21, and the book Bringing Down the House.

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Advice to new card counters

It seems there are a lot of new card counters on the blackjack boards recently. I don't know if they received blackjack books as early Christmas presents, or maybe the movie 21 has been playing on cable, but for whatever reasons the new posts are proliferating, often with the same questions, and often making the same mistakes.  Here are a few suggestions to those just starting out.

1. Learn basic strategy backwards forwards, and in your sleep.
If your wife shakes you awake at 4am and asks, "What do I do with 13 against a 2?" you should know the answer without a blink. When people tell me they have learned basic strategy I ask them a few questions:
13 vs. 2
A7 vs 10
99 vs 9
If they get those right (which almost never happens) I ask which basic strategy did you learn? The one I recommend is DAS ( double after split) H17 (dealer hits with soft 17) LS (late surrender). I found I had to ask this when I was quizzing my son. I asked him when you double A7 and he said 3-6. I gave him the "incorrect" buzzer and he whipped out a basic strategy card he had been using. Unfortunately it had the BS for S17 and no surrender. That's okay. It's only a few tweaks.

2. Learn the right count.
Which is the right count? To answer that I have to ask, WHY do you want to count cards? Here are three different types of players, and a recommendation for which count to learn.

• I want to excel at something difficult and challenging, that if viewed in a vacuum could be considered the count that would win the most money for a given session.
  Okay, you want the "hard" count. If an easy count would win $50 per hour you want the hard count that will win $51 per hour. Maybe throw in a side count of aces and 7s. Boost that win up to $51.05. The count for you is one of these - Zen, Uston APC, Revere APC, or Hi Opt II. But make no mistake - if your end goal is to make as much money as possible, these counts are not for you. These counts are for people who will not play lots of hours, and want to play single, and  double deck. These counts are for the type of guy who likes to be able to solve a Rubik's Cube.
  
• Vegas Baby! I want gourmet meals, tickets to fights, champagne, and I want them to pay me for it!
  Right on. You want the simplest count possible. For that you want either the Red 7 which you can find in Blackbelt in Blackjack, or the KO which you can get in Knock-Out Blackjack. You should also pick up Comp City, which will help you get the most out of milking the comp system. Your approach here should be that you are making most of your ev from the stuff the casino is giving you, and you do not want to get any heat or barred by trying to earn extra money with a big bet spread.
  
• Show me the money! It's all about the Benjamins!
  If you just want to make the most money possible I would recommend the Hi Lo. For that you should read Professional Blackjack by Stanford Wong. Hi Lo is a simple strong count, and if you ever team up with someone chances are this is the count they use. The large successful teams of the past like the MIT team or the Hyland team used this count and won many millions of dollars.  I know you are saying, "Why can't I use the "better" count if my goal is maximum earn?" Obviously you can, but I don't think you will earn more money. Making money counting these days means playing shoe games. The stronger counts perform better on the single and double deck games. Playing one of these counts for long hours will cause you to make mistakes, and become mentally fatigued sooner. If you can play just one extra shoe because you are using an easier count then you have more than made up for any gain you would have had with a stronger count.

3. Learn what is important, and what is not.

There are 3 things beginners obsess over that are not important. Which count to use, keeping side counts, and the rules.

Here are 3 things that are important. 

Penetration - how much of the shoe do they deal?  Here are 2 games

6 decks cut 2 1/2 S17, DAS, LS - good rules, less decks, bad cut

8 decks cut 1 H17 no DAS no LS - terrible rules, more decks, good cut

Which game is worth more for the card counter? It's very close but the 8 deck game is worth slightly more.

Game speed - how many hands per hour are you getting?

If you are playing at a full table you might get 50 hands per hour. If you play by yourself you can get 150 hands per hour or more. That means you are winning 3 times as much if you play alone versus playing at a full table. Wouldn't you like to triple your paycheck? Game speed is important. A side count of 7s is not.

Your bet spread - How big a spread is there from your minimum bet to your maximum? Say that you have determined you will bet $100 at a TC 2, 200 at TC 3, 300 at TC 4, and 400 at TC 5 or higher. 

At a $50 table you are spreading 50-400 or 1-8 you win $24.02 per hundred hands

At a $25 table your spread is 1-16 or 25-400 you win $43.70

If you only wong your spread is 0-400 you win $63.37

Look at the way you win rate goes up by increasing your spread. Many new players think that when they increase their spread it increases their risk, but in this example you actually decrease your risk by increasing your spread.

And the most important factor...

Casino tolerance. You could find a casino that dealt 51 cards out of a single deck, super fast dealers that deal 200 hands per hour, and you spread 1-100, but if they won't tolerate your action the game is worthless. Some casinos, like The El Cortez, have a great single deck game. But they have been known to bar people that have not even played a hand! Just the way someone looks at the blackjack table can get them backed off. I know several players this happened to. There are other casinos where a $5,000 bet may get a yawn from a pit boss. If a casino will not take your action there is no way to make any money. 

So the next time you are headed to a new casino venue don't ask your counting friends - "any places with good rules?" Ask them, "Any places that take action, have good penetration, and lots of empty tables?"

And when you are ready to move beyond counting, check out advice to new advantage players.

Gambling With an Edge - guest Bob Nersesian #5

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.  This episode is primarily about the laws regarding using a device in the casino. He is also the author of Beat the Players.

Bob Nersesian podcast

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Gambling With an Edge - guest Eliot Jacobson

Eliot is a Ph.D. mathematician and former advantage player. Now Eliot works as a consultant designing casino games, auditing Internet casinos, and advising on game security. On the show Mike and Bob ask Eliot about switching sides, and the latest advantage plays, among other topics.

Eliot Jacobson podcast

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Quote of the day.

"Learning to count cards is easy. Learning to get away with it is tough."

RWM

Gambling With an Edge - guest Bob Nersesian #4

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.

Bob Nersesian podcast

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Today's Advantage Play

Last week I went to Frys to buy a battery charger, and a new lens for my camera. They have an odd system at Frys, you select your item in the department, and they print out a slip for you to take to the cashiers. The cashier then gets the item and rings you up. While I was walking to the front of the store I remembered I had an app on my phone called Shop Savvy. I had never used the app before but figured I try it out. You open the app and it allows you to scan the bar code on any item, and it tells you how much the same item is selling for at local stores near you, and online. When I looked at the lens I was buying it showed that it was $50 cheaper at Amazon, and had free shipping. When I got to the cashier I told her I no longer wanted the lens because it was $50 cheaper at amazon, and showed her my phone. She said, "We'll match any price." Is this a great country or what?!

Benjamin Franklin said, "A penny saved is a penny earned." But Franklin was wrong. A penny saved is worth much more than a penny earned. When you earn money you have to pay taxes on it, and saved money you don't. So take advantage of this shop savvy app. It's in itunes, and the google play store, and you can't beat the price, FREE!

Now if you are shopping at Frys and want to take advantage of their matching price offer you do have to take that paper over to customer service where they will do the price matching. In my case there was a long line at customer service and I didn't have time to get my lens. So if you are looking for a Christmas present for your favorite blogger...

Canon EF-S 55-250mm f/4.0-5.6 IS II Telephoto Zoom Lens for Canon Digital SLR Cameras

Quote of the day

"All the evidence shows that God was actually quite a gambler, and the universe is a great casino, where dice are thrown, and roulette wheels spin on every occasion."

Stephen Hawking

Gambling in movies

Richard Roeper is a very good movie reviewer. He also considers himself a bit of a gambler. He wrote a really terrible book called,  Bet the House: How I Gambled Over a Grand a Day for 30 Days on Sports, Poker, and Games of Chance. To professional gamblers Roeper is what we call, a "ploppy." Now to be fair it would not surprise me if Richard thinks my movie reviews suck, and as a director he may call me... a ploppy. I don't really know since I was afraid to see if he ever reviewed one of my movies. But on one thing we agree. When it comes to gambling in movies they usually get it wrong. Here is an article of his about two upcoming movies that contain gambling.  Gambling movies not always a sure bet - Chicago Sun-Times.