Thursday, May 30, 2019

"I don't have a host" and other whimpers from a Video Poker Player.

I do not now, nor have I ever, had a host at a casino.

This is not for lack of trying.  On a normal trip over two to three days I'll put in around $4000 in play per day. Unfortunately, for me, most of that is on video poker, a game where I can mitigate the house advantage through use of advanced strategy, and whose (still) relatively small house advantage damages my theoretical loss.

But I play a LOT of video poker.

On my one trip to Vegas this year, in February, I spent two days at Luxor and wagered $10,050.75 primarily on video poker.  That's over $5000 per day.  Even using MGM's horrid pay-tables (7.5 DDB) the house 'edge' 4.288%.  That leaves me with a theoretical loss of $430.76 for the trip, or only around $215.00 per day.  Hardly enough to grab any attention in a world where people are gambling what I gamble over two days in one hand.

Even IF I played other games, I dabble in slots, I still wouldn't make the mark. But playing quarter video poker is never going to grab the attention at a casino. I'm what's known as a mid-level low-advantage player and that puts me near the bottom of players Strip casinos care about.

They want people playing 6:5 blackjack at $25 a hand, ordering drink and playing for 4 or 5 hours per day.  Those players can lose what I bet on a trip in a day.  Most do, because most don't understand, or take the time to learn even basic strategy.  I know blackjack at the basic strategy level, I just don't play it much because I'm averse to 6:5. (Which might seem odd, since I like VP and will play MGM pay tables despite them having a much higher house hold.)

But I KNOW VP better. And I understand how to play it at an advanced level.  Do I make the occasional mistake?  Sure, I'm human. And although Mr. Dancer thinks you shouldn't ever make a mistake (or have fun gambling) I tend to go down a different path.  As long as I'm not making horrific mistakes, I'm OK with the occasional button flub.

But that still will never get me a host.

I know several slot players, who plat at, or slightly above, my level of play and they have hosts. Not on the Strip obviously, but they have them. And one day I might get one at one of the lower end casinos, where I'm OK playing, but for now I'm pretty happy living without them.

For example:

On my last trip to L'Auberge in Lake Charles (where I'm nowhere close to a host but I am an 'invited guest') I pretty much limited my play to quarter video poker (9/5 DDB or a house edge of 2.13%) and I did very well.  In two days of playing I hit a Royal Flush ($1000), 4 Aces with a kicker ($500) 4 4's with a kicker ($200) and 4 4's with no kicker ($100) three additional times.  I left the weekend with no host, but with $1100 in profit.

Now, odds are I'll dump those winnings back into a casino in June, when I head to New Orleans, or in August, when I head back to Vegas, but it gives me a bigger bankroll with which to play.

And I STILL won't have a host.

My point is that, when you from all these gambling experts about their "hosts" and all of the wonderful perks they receive remember this: They are gambling at a very high level to attain these give-aways and they will need to continue to gamble at that level to keep them. There are no grandfather clauses in Vegas casinos.

Your secret to success in gaming is as follows:

1. Find your comfort zone.  Whatever money you gamble make sure that it's money you can afford to lose. Establish a gambling savings account and ONLY use that money. NEVER ATM at a casino except in emergencies.

2. Stay in your land: Don't be tempted to venture out. Discipline, whether it's through an envelope system or some other bankroll management system do whatever you can to ensure you both keep your winnings and don't dump them back in, and also that you don't exceed your comfort zone.

3.Don't chase comps.  You'll find yourself gambling way more than you wanted to, often with disastrous consequences.

4. Consider any money you bring to gamble with to be gone before the trip starts. They don't build those beautiful casinos on the backs of winning gamblers.

5. Enjoy your wins.  Because they are few and far between on most trips and you should take a minute to savor large wins.  Have a celebratory glass of Champagne after every Royal Flush, or a shot. Then take the winnings and lock them in the room safe before venturing back out with your original daily stake.

You may never have a host, but that doesn't mean that you can't live the large life in a casino. You'll just have to book your rooms yourself and pay for some things.  But you might find it to be worth it.

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