 Ask the Wizard: |
Questions about gambling, Las Vegas, and everything else |
It seems to me 3-4-5x odds are a scam because the player is paid out the same regardless if the point is 4 or 6. If a player bets 2x odds, regardless of the point, at least he is rewarded a higher payout. What is your opinion on this? – Allan from San Diego, CA
With 3-45-x odds, you don’t have to bet as much on a point of four as a six, yet the reward is the same. With all gambling, you shouldn't just look at the reward, you also have to look at how much you are risking. November 4, 2007
Why isn't "Thou shalt not cheat" in your 10 Commandments of Gambling? Your definition of Proper Gambling Etiquette doesn't seem to include that definition. – Kevin from San Diego, CA
You’re right. That should be in there, and close to the top. I’ll add that in and add the commandment about tipping to the one about etiquette. March 18, 2007
I recently acquired a carnival wheel that belonged to my great uncle, it's about a hundred years old and I’m trying to develop a game around it. It’s numbered 1-60 in random order and it alternates black and red with a green star every fifteenth mark, could you help me outline how much the payoffs should be for each spin? – Mike from Olympia
So there are 30 black, 30 red, and 4 green numbers. That would make the probability of black 30/64, red 30/64 and green 4/64. If the probability of an event is p then the fair odds are (1-p)/p to 1. So fair odds for any red would be (34/64)/(30/64) = 34 to 30 = 17 to 15. Same for black. The fair odds on green are (60/64)/(4/64) = 60 to 4 = 15 to 1. For a specific number the fair odds are (63/64)/(1/64) to 63 to 1.
I suggest paying 1 to 1 on red and black, 14 to 1 on green, and 60 to 1 on any individual number. One formula for the house edge is (t-a)/(t+1), where t is the true odds, and a is the actual odds. In this case the house edge on the red or black bet is (63-60)/(63+1) = 3/64 = 4.69%. On the green bet the house edge is (15-14)/(15+1) = 1/16 = 6.25%. On individual numbers the house edge is (63-60)/(63+1) = 3/64 = 4.69%.
February 7, 2007
Last night I was playing a friendly hand of poker with relatives and I was more or less trying to get a response out of my husband when I asked, " Do you have a nine?" When all of a sudden the hostess jumped my ass and said I was soliciting hand advice to which I responded no I wasn't I was just table talking everyone agreed with her but I think they were just pissed because it was my husband. Is there a rule about soliciting hand advice or directly asking a person what they have? I thought you could say whatever you wanted to at a table unless there were rules about cussing. Please let me know. Thanks, Rashelle from Lafayette
I believe it isn’t breaking any rules to ask, but to answer the question certainly would. I’m not making any accusations in your case but in general when a couple plays poker together in a home game, rules against collusion are often broken, causing sore feelings among everybody. The usual infraction is guy advising the gal after he already folded. When I lived in California it got so bad with one couple that when I hosted the game I made a rule that they couldn’t both be in the game room at the same time. So maybe the hostess has had trouble with couples playing poker before and overreacted.
July 31, 2006
"Lots" are mentioned several times in the bible, most famously for using lots to decide who went home with Jesus' robe. What exactly are lots and were they used for gambling?
My webmaster Michael Bluejay insisted on providing his own answer first:
Actually, drawing lots wasn't their first idea for deciding who got Jesus' robe. First they were going to draw a horse, but they didn't have the right color crayons. So they each decided to draw whatever they wanted, and one drew Carey while another drew Barrymore. But the judging became an apples-to-oranges kind of comparison so they settled on drawing lots. Of course, everyone likes lots because lots means plentiful. You always see signs that say "Lots for Sale", but you never see a sign that says "Only a Little Bit for Sale". When you think about it, that place "Big Lots" is kind of redundant. It's like saying "Abundant Abundance". But if companies can get away with saying "Pizza Pizza" (or agar agar) then I guess there's no problem. Anyway, to answer your question, lots were first used for gambling in Cow Bingo. You know, it's the game where a cow is placed on a lot marked off in a grid and people bet on which grid square the cow will poop in. The most famous use of lots in gambling is their role as the first part of the LOTtery.
(groan) Now that that's over with, I asked my friend and bible expert, Tom R. the "Watchman on the Wall", about this. He quoted various bible dictionaries. The bottom line is that lots were not used for gambling but to choose a name randomly. This was accomplished by writing one name each on pieces of wood or stone, putting them in a bottle, and shaking just one out.
April 19, 2006
On TV they had a program the Do & Don'ts in Las Vegas. On this program they advised you that when playing Blackjack and win you are not subject to taxes?? I can't believe this.
Mahalo
You are subject to tax for any gambling winnings. However table games players are basically on the honor system. An exception that a W2G form is generated if a win is 300 for 1 or more odds and is over $600. That is usually only an issue with progressive jackpots. Also, if there is a cash transaction of $10,000 or over the casino is obligated to fill out a CTR, which stands for Cash Transaction Report. Yet these are nothing to worry about, and I think many big bettors are overly paranoid about them.
March 27, 2006
If I have a bet with another person, which is witnessed by three others and we shake on the bet. Is it by law a legal bet and must be paid? -- Thomas from Durham
No. Illegal debts are not enforceable. I'm not a lawyer but as I understand it unless the law specifically allows for gambling on whatever you bet on, and somebody had a license to take the bet, then the bet would have no legal protection. That is why I list "Honor thy gambling debts" as the first of my Ten Commandments of Gambling. A true gentleman honors all his debts, but especially ones based on honor, like a bet made only verbally or with a handshake.
March 13, 2006
When I enter a casino with $100 and play roulette, I don't expect to leave it with 4% less but with 25% less. Does this phenomena has a formal name? (I was googling "real house edge") Is there any formula/model to predict this "real house edge"? Which games are better and which are worse in this parameter? - Jacob
From Tel-Aviv
In your example the casino's hold is 75%. That is the ratio of how the value of chips players walk away with to the amount of money the dealer drops in the box. Although there are historical averages there is no way to go from house edge to hold. The hold depends in part on how long the player will circulate through his chips, and there is no way to know that.
March 5, 2006
Just wondering where I might obtain a good testing program like the billion-hand simulator you often refer to. Thank you. -- Michael from Los Angeles
I get asked variations of this question a lot. The fact of the matter is I have written hundreds of different simulations. I write the simulations myself in C++ to do exactly what I want. Those writing usually seem to be looking for something to test betting systems. I'm afraid I have nothing and know of nothing that lets the user input how the betting system works and then tests it. If there were something that worked perfectly what you would learn from it is that all betting systems are equally worthless, exactly what I have been saying for years.
March 5, 2006
Dear Wizard, you go to great lengths to explain the odds and why they are always in the casino's favor. This being the case, why would anyone gamble? - Mike from Miami
Hi, I thought I would ask you this since I cannot find it anywhere on the web. I hope you answer this; What are the odds of existing? Whether it be on Earth or somewhere else in the universe? It's not a gambling question but an answer we should all know so we can appreciate what kind of odds we beat just being alive! - Andreas from Edmonton
The probability that intelligent life exists anywhere in the galaxy I believe is very high. The Drake Equation seeks to estimate the number of incidents of intelligent life in the galaxy, which depending on the numbers you put into comes up with a figure of about a million. However there is also no good evidence that these civilizations have ever visited us or made contact. So the famous Fermi Question is "Where is everybody?" I do think the lack of evidence of other intelligent life casts some doubt on the Drake Equation but I would still put the number of intelligent civilizations in our galaxy in the ballpark of 1000. That is just our galaxy, there are billions of galaxies out there. However the distance between galaxies is so vast there is really not much point in discussing travel or communication between them. So to answer your question I would say roughly 99.9%.
Dec. 6, 2005During a 4-hour layover in Vegas, what's my best strategy to double a $2000 bankroll? what game, large or small bets, etc.? - Tom from Culver City
First I would take a taxi to the Hard Rock, the closest major casino to the airport. I'm not sure how much odds the Hard Rock allows in craps but I would guess 3-4-5. If that is the case then bet 1/7 of your bankroll on the don't pass bet, or $275 to round down. If a point is established then lay the maximum on the odds, or $1650. If you win you'll be a lot closer to your goal, the amount will depend on the point. Win or lose bet the lesser of 1/7 of your bankroll and 1/7 of how far you are from $4000. If you get close to either extreme just get it over with and bet everything if you're low, or whatever you need to close the gap on $4000 if you're high, and forget about the odds. Four hours should be enough time. However don't dilly dally. The lines at security can get pretty bad. If your outbound flight is in terminal C be sure to ask an agent about the secret entrance. Oct. 26, 2005
How much wood WOULD a woodchuck chuck, if a woodchuck
could chuck wood? -- Jim from Bradley,
Illinois
A woodchuck would chuck as much as he could
chuck if a woodchuck could chuck wood. Now say the
question and answer ten times really fast. Sept. 11, 2005
Is Timbuktu a real place and if so what country is it
in? - Bruce from Auburn, Washington
Yes. As I recall it was a great intellectual
city in Africa that had a magnificent library. However
the library was burned down and not much remains of the
once great city. Here's more information about
Timbuktu from MrDowling.com. Aug.
28, 2005
I've finally accepted a job in Vegas, and the family
will be moving in less than a month. What areas of Vegas are
nice to live, what areas are undesirable?
For family living the nicest areas are indeed
Henderson and Summerlin. Personally I live in a master
planned community called Peccole Ranch, which borders
Summerlin. In my opinion the west side, where I live, is
better because: Aug.
28, 2005
- It has an Orange County, California, look and feel
to while much of Henderson looks like it was made from
a cookie cutter.
- The west side is higher in elevation and thus
cooler in summer.
- Henderson suffers from the noise of landing
airplanes.
- The west side is right next to the mountains,
which offer outstanding hiking and climbing.
- The future growth of the west side seems to be
better planned.
If you ask someone from Henderson they will claim
Henderson has less traffic, but there are two sides to
that issue, and I think the west side is better in that
area too. I'm sure I will hear from somebody from
Henderson over this, and am happy to print a rebuttal in
the future, because I believe in presenting both
sides.
The worst parts of Vegas are around downtown,
gradually getting better as you move further away. For
something in the middle there is lots of growth on the
south side of town along the I-15 and the north side
along the U.S. 95.
You have inspired me to analyze some games myself.
However I don't know how to program a computer. What
language would you recommend I learn?
C++. To know C is to love C. Java, Perl, and
Visual Basic are similar to C but in my opinion are not
as elegant or powerful. Jan. 23,
2005
Why do people gamble at all? Especially in a casino,
where they know they are supposed to lose? Can you see this
happening in any other business? What is the psychology
behind this? Something for nothing? No, they do not keep
what they win, most just lose more back later, that can't be
it. Socializing? No, you can do that in a restaurant, that
can't be it, and the list goes on. So what really is the
problem? I work in a casino, and see it everyday, and almost
the same people, everyday. In many cases they do not seem to
be having any fun, that cannot be the goal. So, what, in
your opinion, is it that is so addicting about losing money,
and not using the sense you have been given? Thanks,
Larry
People generally gamble either for entertainment
or because it's a compulsion, so let's look at each.
I think those who like gambling find it exciting and a
safe way to get an adrenaline rush, much like riding a
roller coaster. For the knowledgeable gambler the
entertainment can actually be cheap. Although gambling
feels like a job to me now I played recreational basic
strategy blackjack for about a year before I went onto
card counting. Playing $5 a hand under Atlantic City
rules at a full table the expected loss per hour is only
2 cents per hand or about $1.20 per hour. That isn't much
to pay for the entertainment and free drinks. So those
who play the better games and play them well could
certainly make an argument that it is a small price to
pay for entertainment.
Some people, like you, don't see what is entertaining
about gambling at all. That makes sense, since not
everyone likes every form of entertainment. Just because
some people like baseball doesn't mean everyone will.
As for compulsive gambling, psychologists say
compulsive gamblers fall into two groups: those who do it
to it for the action and those who do it to escape
reality. The action seekers tend to be men and gravitate
towards the table games. The escapists tend to be women
and gravitate towards slots and video poker. So that is
my two cents. Keep in mind the only psychology I have
studied was one semester in high school, 20 years ago
(hard to believe it has been that long).
Jan. 16, 2005
Is the combined house edge in craps of 0.014% (taken
from your chart) on don't pass and laying 100x odds the
lowest house edge of any casino game? And, does 0.014%
casino edge mean that for every $100 you wager you will lose
1.4 cents?
There are still video poker games that with
proper strategy pay over 100%. I've also seen a blackjack
game at the Fiesta Rancho and Slots-a-Fun in Las Vegas
that had a basic strategy advantage. As I argue in my
sports betting section betting NFL underdogs at home
against the point spread also has resulted in a
historical advantage. So 100x odds in craps is still one
of the best bets out there, but not the very best. Yes,
0.014% means that per $100 bet you lose 1.4 cents on
average. Nov. 5, 2004
Are there any real professional gamblers out
there?
Yes, lots. I know several personally. I'm trying
to become one myself but in my opinion you need a
bankroll of at least three times the annual income you
are accustomed to, and I'm not there yet. For true
stories of some the best professional gamblers I
recommend Gambling
Wizards by Richard W. Munchkin.
Oct. 17, 2004
What do you think of the claim below, that God is a
Democrat as evidenced by the fact that all the counties that
voted for Gore in 2000 were spared by the three hurricanes
that hit Florida recently?
First, I am publishing this because author gives
permission to do so at the bottom. This is a good example
that correlation does not necessarily mean causation. It
is easy to look back in time and find lots of
coincidences. To make a case for anything a hypothesis
should be stated before any evidence is gathered.
Oct. 17, 2004
Follow-up (November 13, 2004): Another reader
pointed out that this map started out as a joke but
turned into an urban
legend. As this link points out the hurricane paths
in the graphic were simply not accurate and the actual
hurricanes hit many Gore counties. It just goes to show
you shouldn't believe everything you read, especially on
the Internet.
Mr. Wizard, Great site. There is a lot of useful and
interesting info. I'd like to see more of the mathematics
and possible sources of simulations (source code, books,
etc.) behind the games. Where would you suggest that a
person interested in writing something similar to your
"blackjack house edge calculator" go for more info? Thank
you for your response. Regards, Chris
Thanks for the compliment. I'm afraid I know of
no source, including myself, that shows code for game
analysis. It took me years to get my blackjack engine to
work perfectly (splits when the dealer had a 10 or ace
showing was very tricky). An easier way to get the house
edge for blackjack is to write a random simulation. One
of these days I would like to write a book on how I
analyzed the games, but I'm afraid only you would buy it.
Sept. 30, 2004
Love your site! I enjoy casino gambling but generally
can only afford a small bankroll (less than $100 per
session). What game would you recommend to maximize the life
of my bankroll and chances for a winning session?
Thanks. Considering both odds of winning and
bankroll preservation I think the choice comes down to
blackjack (which favors winning) and pai gow poker (which
favors bankroll preservation). If you can find a $5 table
in either game I would go with blackjack. If the minimums
are $10 then I would go with pai gow poker.
July 28, 2004
I work in a casino and have actually 86'ed people for
various reasons. Where does the term actually come from?
According to Cecil
Adams the term originates from restaurants and soda
fountains of the 1920s. He says it started out meaning to
be out of something and then became an expression to
drive off a customer. May 22,
2004
First, great site. During a recent visit to Harrah's,
they gave me an option of either $100 match play or $50 in
slot play. In your opinion with which is the best to take.
(I took the match play). Also, for the match play would it
be better to play all $100 on one hand, or multiple smaller
hands (10 x $10 hands). Thanks - Wally in Houston
Thanks for the compliment. I recommend taking
the match play. I'm sure the $100 in slot play was on
specially designated machines. From anecdotal evidence I
believe these free play slots are extremely stingy, set
to pay back about 25%. That match play is worth about 48
cents on the dollar. I recommend betting in on the don't
pass in craps. The reason I favor that over blackjack is
that blackjack has a lower probability of winning, thus
reducing the value of the match play. For further
explanation please see my October
30 2001 column. May 13,
2004
To the fellow who asked the question about order
statistics (column
#100), I have two quibbles: one small and one
large. Your method failed to make a finite population
correction, which I grant is trivial with 5000 employees,
but it certainly wouldn't have been had there been 20
employees!
More importantly, however, you implicitly assume that
managers have no effect on their employees. Suppose good
managers, through judicious hiring and firing, or through
above-average motivational skills, raise the average level
of their employees. Without accounting for this effect we
will either upward- or downward-bias the resulting
probabilities. I'm sure you knew this, but I am sensitized
to it because I do a lot of calculations like this in
discrimination cases and failure to adjust for things we can
adjust for (in this case a group-specific effect) can often
lead people astray.
Thank you for those good points. However the
alternative to no control over the distribution of job
performance ratings is rating inflation. The manager will
be put in a position of giving out bloated ratings to
keep his staff happy. As a government worker for ten
years I speak with some experience on this. When I taught
at UNLV there was no average class GPA standard but there
were certain expectations about what a grading curve
should look like at the end of the semester. At least in
a college setting I thought that made for a reasonable
policy. Perhaps in a business environment some sort of
common sense medium would also be best.
May 5, 2004
In practical terms, does the casino make more money on
a bet with a high standard deviation, than a bet with a low
standard deviation, even if the two bets have the same edge?
Basically, I figure the probability of player bankruptcy is
higher with a higher standard deviation. If the house
already has all my money, I can't play the next hand that
might be a winner.
Assuming the player plays the same number of
hands regardless of results then the casino would make
the same amount of money either way, over the long run.
Yet if the player will quit early if he reaches a certain
loss point then he will play less on average and
consequently the casino will make less money. It sounds
paradoxical but if you quit playing when you go broke
then you will lose more at a low volatility game, because
there is a smaller chance of ruin and thus the house edge
will grind you down longer. So by increasing your
probability of ruin your expected loss actually goes
down. For example if player A bets his entire $100
bankroll by betting on red in one spin of roulette then
his expected loss is only $5.26. If player B bets $1 at a
time for 8 hours on red in roulette his expected loss is
60*8*5.26% = $25.26 (assuming 60 bets per hour). So
although player A has a much higher probability of ruin
his expected loss is much less. This lesson is especially
applicable to Internet bonus playing. If you get the
bonus up front I recommend betting everything in one hand
to start. By sometimes going broke before completing the
play requirement you expose yourself to the house edge
less and thus save time and lose less playing over the
long run. April 22,
2004
Congratulations on your upcoming 100th "Ask the
Wizard" column. I anxiously await each new addition as it
adds to my gambling knowledge. My official question is...
Can I be in the 100th issue? RS - Dallas.
Consider it done! Yes, this is my 100th column.
Four years and two months ago I started it as a way to
freshen up the site and to show the content is not
stagnant. As evidenced that it has gone on this long I
think it was one of my better ideas.
April 4, 2004
I know that you are allowed to deduct gambling losses
up to a certain amount on your tax returns...what is that
limit?
Zero. You can not deduct a net loss at all.
However if you have some W2G forms (generally given on
wins of $1200 or more in slots, video poker, and keno)
then you can deduct other losses against these wins. You
should keep documentation for any losses you claim. You
may be thinking of deducting losses on stocks. There you
can deduct up to $3000 a year, and can carry over amounts
larger than that to the next year. I'm still carrying
over losses from the tech crash in 2000.
April 4, 2004
Dear Wizard,
Great site! I'm a devoted fan who only bets on games
with a small house edge.
I was surprised to find on the Nevada Gaming Control
Board's website, that the statewide casino win percentage
for baccarat in 2003 was 19.62% and for mini baccarat, the
casinos kept 13.81%. Why such a difference if the two games
have the same house edge? By comparison, nickel slots
(considered to have a lousy house edge) kept only 7.89%
statewide! Why would slot machines (with a high house edge)
keep less money than table games (with a low house
edge)?
Thanks, Andy.
Thanks for the kind words. You are far from the
only person to be confused about this. The reason is you
are comparing the house advantage to the hold. The house
advantage is the percentage you will lose on average of
each dollar bet. The hold is the ratio of money the
casino wins to chips purchased. This is going to be much
higher than the house edge because in table games players
circulate through the same chips for a while. So that
baccarat figure is saying that of all the money dropped
in the box in baccarat the casino won 19.62% and gave the
players back the other 80.38%. Meanwhile the nickel slot
figure is saying that of the total amount bet the casino
kept 7.89% and gave players back 92.11%. To make a long
answer short you are comparing apples and oranges.
March 6, 2004
Have you ever received any dumb questions?
Don't get me started.
Feb. 13, 2004
You have a very good site but I think it puts too much
of a priority on minimizing the house edge and not enough on
minimizing volatility. Don't you think the player is trying
to minimize both? Perhaps you should put more of an emphasis
on bankroll longevity.
While you may like a low-volatility game the
next guy may like a high-volatility game. I do indicate
the standard deviation of most games here
but that is about as far as I care to go with this angle.
I believe the gambler should pick his game partially
according to its volatility but once playing always play
by the proper strategy and never hedge your bets.
Feb. 13, 2004
Does "cracking your knuckles" result in larger
knuckles?
Contrary to popular belief I think cracking your
knuckles is totally safe. My chiropractor has cracked my
back and neck lots of times and I'm better for it.
Jan. 31, 2004
I tried to find your reviews of the online casinos but
the page says you have stopped making them available. I
personally like knowing if a casino has a questionable
policy. Why did you delete the reviews?
That is a fair question. For those who don't
remember I used to review all the Internet casinos I
played and had a list of at least 50 reviews. One problem
in maintaining this list was I got numerous requests from
casinos not on the list to be added. I received no
revenue through these reviews and in fact they may have
taken customers from the paying advertisers. Another
problem is Internet casinos often rise and fall in
quality. I was taking a beating on the bulletin boards
for saying good things about casinos that had evidently
fallen downhill. So I started to remove reviews there
were over a year old. However I still found it a hassle
dealing with the requests to be added and dealing with
complaints coming from players who had a bad experience
with a casino I gave a good review to. My site does not
make that much money so I decided revenue did not warrant
the bother of maintaining that section.
Jan. 20, 2004
Can you tell me about the legal penalties for cheating
at a casino? For instance, could the casino press charges if
you are caught using a mechanical card counting device, or
just kick you out? How about other scenarios, like if you
were caught with a computer system to predict roulette
spins, or a device to spy on poker hands?
It is my understanding that cheating in a Nevada
casino carries the same penalty as bank robbery.
Computers and cameras definitely count as cheating
devices. Dec. 17,
2003
Your Money Management page says:
"For those who sometimes lose too much and later
regret their actions some self-constraints may be in order.
I would suggest setting a specific loss point in these
cases, for example $200. Personally I don't set such limits
on myself. If I've lost too much it won't be fun any more
and I'll step away for that reason."
But for you, what does "too much" mean? On every other
web page of your wonderful site, you warn against using gut
feelings. But when it comes to losing, you say you stop when
it doesn't feel good. Especially with video poker, I set a
bankroll size, and I stop when I lose that. Losing always
sucks, whether it's 1 credit or 300 credits.
You are right that I am not specific about money
management. Unlike other gambling writers I do not put a
lot of emphasis on how much to bet or when to walk away.
For the recreational gambler there is no method of money
management that can either add to or take from the house
edge over the long run, so why dwell on it? So while I'm
very specific on how to play your cards how much to bet
is up to you. There should be some room for free will in
gambling anyway. However I do say that if you've lost so
much that gambling isn't for fun any more then it is time
to walk away. Sept. 26,
2003
Hey dude I had a random question and I didn't know who
else to ask! I won $12,000 on an online casino. Should I
cash it all out at once? Do I have to do anything related to
reporting it on my taxes? If I don't report it will I get in
trouble? What would you do in this situation? Thanks for the
help!!!
Whether to cash out it all out at once is your
decision. Assuming you are a U.S. citizen you are
obligated to declare the income on your next tax return.
If you don't you could be charged with tax evasion.
However this sort of thing is largely on the honor
system. You are also allowed to deduct any gambling
losses in the same year against your winnings.
Aug. 2003
Which are the most and least volatile games?
Pai gow poker is the least volatile and on
average keno is the most. July
14, 2003
Hi Wizard, I'm Andrès Varillas from Lima -
Peru, South America, I begun to play just 6 years ago, and I
loose 20 thousand dollars in this years, for me is too much,
I'm really upset of this situation and I want your help, I
offer you if you make me win I receive you here in Perú to
take vacations, Perú is a beautiful country, and you enjoy
Know it, in the Casino I play, there are many machines of
IGT Co., like Catch a Wave, Cleopatra, The Monsters,
Leopard, I really loose in 1 of 15 chances, I want to try
back my money. Maybe you can give some secrets to win in
these machines. I appreciate your help, and send you a big
hug. - Andrès from Lima, Peru
Sorry to hear about your misfortune. However
that is the fate that awaits most who overplay their
bankroll, especially in slots. There is no way to beat
any of these games. I would recommend you quit gambling
completely. Feb. 4,
2003
Recently found your site, really nice. Online casino
reviews has been removed, will it return? -- Floyd
Niemeyer, Mattoon, Illinois
I'm not sure. The site continues to be very
disappointing in terms of advertising revenue. I
speculate the reason is partially that viewers were
ignoring the ads and going right to the free links in the
reviews. In other words I was giving away too much free
traffic. Aug. 11,
2002
Dear Wizard, First I want to say you are
running a first class operation. Second, I was wondering
about the prospects of gambling for a living or gambling to
supplement one's income either online or at a real casino. I
can imagine it is probably a dubious enterprise for most,
but for some, it could be rewarding.
Second, I am wondering about the casino's limits on
the size off a wager and how that affects the expected
return or how well one can do in a session. It would seem
low limits would favor the casino, rather than the player,
since statistically, the longer you play the more you will
lose. Also, it would seem that it would be easier to start
small and work your way up rather than start big and go
higher.
Also, do you think it is possible to tilt the odds in
a players favor long term by a style of play in an online
casino for a game such as blackjack? -- Craig
Thanks for the kind words. I could talk all day
about your first question. There are ways to gamble for a
living. In my opinion the most viable ways are blackjack
card counting, sports betting, and Internet
bonus/advantage play. All three of these methods require
a large bankroll to make enough to live on, ballpark
$100,000, and that is just to get by. Most people have to
start small and build their way up. Everyone has to bet
relative to his own bankroll. Internet betting limits are
high enough for most players. Not many people wish to bet
more than $500 per hand. Boss Media's single player game
offers a small player advantage in blackjack, but it is
so small it is not worth the time to play
it. Jan. 15, 2002
You seem to know a lot about on-line casinos. I'm
curious if the winnings are taxable income. I have tried the
IRS site and they do not specifically mention off-shore or
on-line gambling. -- Dan from East Troy, USA
Yes, they are taxable. You are on the honor
system to report the income. The casinos will not report
any winnings to the IRS. It isn't just on-line casinos,
ANY net gambling winnings are taxable, regardless of
where or how they were won. Jan.
2, 2002
Have you ever considered the impact of commissions
(i.e. junket players get a commission based on turnover)?
Although they require a lot of capital to begin with,
commissions reduce house odds - I've done some calculations
and it seems as though (if you play say basic strategy in
blackjack) you can get slight odds in your favor (even
without counting cards!)- Have you done such calculations
before and if so, what was the result? -- Siew from
Sydney, Australia
Assuming you could get paid for your play then
yes, it would be very possible to make a profit from
playing junkets, depending on if the commission is more
than the expected loss gambling. I donít know much
about this in Australia but the best I have seen is free
or almost free casino trips in the U.S.. In college I
used to fly for $30 round trip from Santa Barbara to Reno
on junkets and have traveled on buses almost for free to
Atlantic City from Baltimore a few times.
Jan. 14, 2001
Are all junket companies the same? The Grand Casino (a
Park Place Entertainment holding) referred us to the Casino
Connections junket firm based on our play. If we want to
visit other casinos and let them pick up the airfare, et.
al., how do we find the junket firm that serves the venue we
want to visit and contact/convince them to take us on?
-- Malcolm Todd from Atlanta, USA
This is getting outside my area of expertise.
When I was in college I went on almost free junket
flights from Santa Barbara to Reno and only had to be a
minimum $5 player. However I rarely see advertisements
for junkets any longer by airplane. I would suggest
calling the casino host of a casino you like and
prearranging a deal. However I think you need to be a
black chip player to get free hotel and airfare
reimbursed. Oct. 5,
2000
A suggestion, really, O Wizard--when next you print up
your book, could you make it smaller? Perhaps a pocket
edition that could fit in a purse? - Maryanne K Snyder from
Redmond, Washington
Thanks for the suggestion. While the manuscript
is 8.5" by 11" the actual book, if there ever is one,
could be of any size. Most gambling books are about 5.5"
by 8" which would fit in a purse. So far no publisher has
shown an interest in the book. [Update, May 2005: My
book Gambling 102
has just been released, and it measures a standard 5.5" x
8.5".] Sept. 26,
2000
Q: I'm a college drop-out. I was studying for a
mathematics degree, but earned an MCSE and made more money.
But I LOVE statistics, and currently work for a consulting
company in an Indian casino. I've never heard of Actuaries
until I saw this site. How does one become an Actuary?
-- Dave Gayler from Redding, California
To become an actuary one must pass several
examinations. The first set of exams are mathematically
intensive and the second set are based on the theory of
investments, actuarial science, pensions, and other such
topics. However it will be difficult to find employment
without a college degree. Most actuaries have at least an
MA in mathematics. Your Microsoft certification would
certainly give you bonus points but not enough to
compensate for a lack of a degree. To learn more visit
the Society of Actuaries web
site. July 9,
2000
Q: I have tried tolook at your appendices for both Pai
Gow and Carribean Stud Poker. Neither will appear on my
browser (Netscape 4.5). Can you explain why this is? - Gary
Breakfield from Clewiston, Florida
I'm sorry you can't view these appendices. You
are not the first to complain. Both of the files you
mentioned have wide tables that sometimes make the screen
scroll horiztonally. However some browswers simply won't
display anything at all. It may help to increase your
resolution but I make no promises. To make a change in
Windows go to control panel, then display, then settings,
and increse the number of pixels under desktop area. I
use 800 by 600 myself. June 25,
2000
Q: I do not like to gamble. Any look at the math will
show that I am bound to lose, the exception being 21 if I
could do the complex count. However I do enjoy the casino
atmosphere. So the question is how do I stretch my money to
lose as slowly as possible? I seem to recall an article that
stated that by placing two bets on the same roll in craps
that I could cut down the house odds to the minimum. I'm not
going to win big, but I won't lose big either. I know it
doesn't sound very exciting but I'm a boring guy. I figure
my wife and I can side up the table, separately, and in
effect cancel out each other, one will win big, the other
will lose big. If we each bring a big enough roll, maybe we
can stretch it out into a couple of hours of play. I think
the bets were Pass & Don't Pass. - Fred from Los
Angeles, California
Fred, betting on opposite sides of the same bet
is no fun. If you and your wife talk to each other you
will look like fools by betting against each other. If
you pretend to not know each other it will take away from
the fun. Your priority to minimize potential losses, yet
still play, is not unusual. Personally I would find a
place with low minimums where you can feel comfortable
with and play a low volatility game with a low house
edge. I know the Sahara has $1 blackjack games. On your
way to Vegas in Jean the Gold Strike and Nevada Landing
have $2 blackjack and $2 craps. Although the house edge
is high you will never lose much playing keno due to the
slow pace of the page. Nickel slots and video poker also
don't pay well but at only a nickel you can't help but
minimize your losses. It may be that you just need to get
your feet wet and then you will feel more comfortable
taking on some risk. June 10,
2000
Q: As a first time gambler in Vegas, I've been told to
play craps and Caribbean stud. How much money should I
prepare to take to a sitting of each to try to stay in the
game long enough to see results? - Vinnie from Tulsa
If you play long enough the only results you
will see is that you will lose all your money. Don't
bring to the table more money than you care to lose in
that sitting. If your goal is to maximize your chances of
winning I wouldn't play Caribbean stud
either. April 29,
2000
Q: Please clear this up for the non-gamblers of
consequence. If I purchase a lottery ticket or place a
quarter on a cake wheel and win, I don't get my money back.
What happens to my original bet on a roulette wheel or the
race track when I win? Why? - Paul Budny of Baltimore,
Maryland
Since we're both from Baltimore I'll answer your
question. Just kidding, I would have answered it anyway.
Whether or not you get your original bet back depends on
what you are betting on. In most casino table games you
do get your original bet back if you win something.
However with the lottery, horse races, slot machines, and
cake wheels you do not get your money back if you win.
The rule of thumb is that if you need to activate a
machine to make the bet then the bet itself is gone. The
cake wheel is obviously an exception to this rule but
that game is for the benefit of fun and charity (I won a
cake at a fair in Fresno years ago by the way. Whoo, look
at me, I'm a big cake winner.) Losing the original bet is
not necessarily bad, if they returned it they would just
depress the paybacks to recoup the money. A good way to
tell if you get your original bet back is if the odds pay
any amount "to one." If they just specify the amount you
win then you probably don't get the original bet back.
March 11, 2000
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