Don Johnson Gambler
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*Don Johnson Gambler 2019
New Jersey’s Most Notorious Gamblers: Don Johnson At first glance, Don Johnson might appear to be just a former racetrack executive who enjoys. Don Johnson, Actor: Miami Vice. Best known for his starring role as Det. Sonny Crockett on the hugely successful TV series Miami Vice (1984), Don Johnson is one of the stars who really defined the 1980s. As James ’Sonny’ Crockett he went toe-to-toe with drug dealers, pimps, prostitutes, assassins, illegal arms-dealers and crooked cops on a weekly basis from 1984 to. Don Johnson passed away at 62 years of age in early May, 2003. The news was a shock to everyone in the bowling industry but was especially difficult for me personally. Only three evenings prior to Don’s passing, I had dinner with Don in Las Vegas.
October 3, 2019 General Gambling News by Kristina Vujadinovic
Every casino enthusiast knows the name, Don Johnson – the Atlantic City legend that won millions of dollars playing blackjack. His story is an inspiring tale of how one man managed, not to only to beat the house, but to take down three major casinos in Atlantic City for a $15.078 million between December 2010 and April 2011, without counting cards or any form of cheating.
It is the largest sum ever won in consecutive wins in blackjack, which put Johnson into the casino history books.Negotiating the Odds – First Step in Johnson’s Strategies
It seems impossible that anyone can win over $15 million fair and square in a period of five months. Yet, Johnson pulled it off. While everybody thought he was counting cards or executing some kind of elaborate scam, the truth is actually much more interesting than that.
He developed his own system that allowed him to beat the house in its own game. According to his interviews, Johnson explained that he didn’t just walk into a casino and start playing. In his opinion, playing casino games in Atlantic city was like throwing money away, as the rules of the game are set to give the house a significant advantage. His goal was to change the odds.
And that’s exactly what he did, by negotiating better terms before even approaching the tables. The tactic that most sophisticated gamblers and high rollers do. Surely, it might not work with average players, but casino management is usually very keen to negotiate a deal with players with a large enough bankroll.
The unfavorable environment in the gambling sector of Atlantic city after the financial crisis of 2008, made casinos desperate for customers, so they offered very beneficial deals for layers. Johnson knew exactly how to take advantage of such a climate.Perfect Timing
At the time Johnson began his winning streak, AC casinos were seeing a significant drop in revenue and were keen to attract high rollers. Desperate might be the better word since casino marketers were offering deals that no one in the New Jersey gambling industry had ever seen before.
Accepting a greater risk for the possibility of a larger return was the game plan for casinos at the time. For instance, Johnson had a lifetime discount at Borgata casino. He was getting a 20% rebate on each $500,000 he’d lose.
Under the rules before the crisis, this perk would kick in only after he would lose whatever amount he’d won on previous trips to the casino plus an additional half a million. When he realized such rules were skewed against him, he took a break on visiting until the most convenient chance opened up – which it did, since the gambling sector was struck hard by the economic crises in 2008.
Looking to solicit Johnson with more enticing inducements to return to Borgata, the casino executive offered him a historic deal by changing a lifetime discount into a trip-to-trip basis just to make it more appealing.
Due to the casino’s competition for high rollers, once Borgata closed the deal with Johnson, Caesars and Tropicana offered him similar terms. That’s how he was able to negotiate once-in-a-lifetime changes in rules and conditions.Bulletproof Plan and Sticking to It
Starting his winning streak at the Tropicana which is now operated by Eldorado Resorts, Johnson brought along a boatload of cash and negotiated a deal that effectively allowed him to play a 50/50 game of blackjack and to have a 20% on his losses on a visit-by-visit basis.
Book of dead movie. Johnson has approved a $100,000-a-hand limit since he had the cash to back himself up. Over the next 12 hours, he managed to work the odds in his favor, rolling with the punches and cashing in on the big wins. For such a short time, he won $6 million which resulted in the Tropicana CEO being fired a week later.
During play, Johnson was closely monitored by video cameras to see if he was using card counting strategies or cheating in any way. It turned out that he was winning fair and square, simply by using the basic blackjack strategy to ensure that every hand was played according to its merits.
After he ruined Tropicana’s revenues for the month, Johnson then moved on to other unsuspecting AC venue, generating a win of over $15 million dollars for its legendary five-month winning streak.
By using his rather large bankroll as a hook, Johnson continued playing blackjack via similar negotiation deals at Borgata and Caesars venues. He took down Borgata for $5 million and picked up another $4 million from Caesars before being politely asked to leave the premises.
Although he wasn’t specifically banned from the casinos after having his face printed across the newspapers, it’s not likely that Johnson will be getting such beneficial odds ever again.The Simplicity of His Strategy
After taking down Atlantic City casinos, he has become a local legend and an inspiration for many gamblers. Players with a taste for huge wins and high risks were eager to find out its secret. The truth is – there isn’t any magic formula.
It all comes down to math and negotiating better terms with casinos. Johnson himself explained that there is no point in risking your cash and playing a casino game where the odds are never going to be in your favor. Hence, the player needs to find a way to improve the odds in order to start to win.
When it comes to blackjack, this means:
*Sticking to the strategy
*Playing the perfect game
*Looking for the best odds
Aside from his skills and intimate gambling industry knowledge, Johnson is also an avid horse racing bettor and has been involved in equestrian performance sports for years. He grew up with racehorses on his uncle’s farm and worked as a professional jockey before being hired to manage Philadelphia Park racetrack back in the 1990s.
Johnson used his experience and keen intellect to serve as a state regulator in Texas, Oregon, and Wyoming, before making enough capital to found the company that develops custom-made software which defines risks and odds on horse wagering.
If Johnson was into making a lot of money, he could have used such background, and his obviously excellent negotiating skills to monetize on it.
However, he opted for blackjack and it turned out to be the smartest move due to a massive win of over $15 million over the course of only 5 months.Why Blackjack?
Johnson opted for blackjack because of the house edge and the idea that knowledge, intelligence, and discipline are needed when relying on skills and math to beat the house.
When it comes to this, no other game can stand toe-to-toe with 21. It is clearly shown by comparing the odds of other games.
Let’s take a peek at those numbers:
*Roulette – The mathematical advantage of the roulette in Europe is 2.7 percent, whereas in the American version it’s 5.26%.
*Baccarat – Comes with the house edge of 1.06% on the banker, 1.24% on the dealer, and whooping 14.36% on a tie.
*Caribbean Stud Poker – Is at 5.22% not including the casino’s rake.
*Slots – Can be anything between 5% to 12%.
*Craps – Even the closest companion of blackjack, lags with 1.41% or below, although it can go up to 1.6% to 2.7% on some bets.
In comparison, 21’s house edge is below zero by default – meaning if the player executes a proper blackjack strategy in a well-selected game variant the house edge drops down to between 0.2 and 0.4 percent.
However, with the proper strategy executed to perfection, the house edge is close to zero.
The only countermeasures at casinos’ disposal are the rules, which are being changed slowly, gradually, almost invisibly for the last sixty years in order to revert their advantage.
As the industry insider and a professional blackjack player, Johnson was utterly aware. It is exactly the reason why he negotiated the rules so wisely before taking a seat at the tables.
He knew precisely when was the right time to strike, beat them at their own game, and walk away with over $15 million. It is why he will remain as the legend who only by his own wisdom has conquered the toughest opponent – the house itself.
INTRODUCTION
Back in the early 2000s, Don Johnson became famous for winning millions of dollars playing blackjack without counting cards. For those of you who don’t know, here’s a news piece on his exploit.
https://abcnews.go.com/Business/blackjack-player-won-15-million-reveals/story?id=15971410
His method was not complicated. He simply used losing to his advantage.
In this article, I am going to explain how he did it. The TL;DR version is that when he lost, he was able to extract concessions and loss rebates, and when he won, he simply went on his way.
Even if you don’t win $15 million, you can use this knowledge to your advantage and extract money and other concessions from the casino.
I’ve been doing a much smaller version of the ‘Don Johnson’ approach for years. It’s become more difficult to execute because of Mr. Johnson’s publicity, but it’s still possible. While Don Johnson did it playing blackjack, my method involves a similar exploit on the craps odds.
For purposes of this article, since I am writing it from my own experience, I am going to refer to the craps odds bet; however, this method can really apply to any low edge casino game.
Here is the method, as I applied it to my craps play…
YOU MUST BE WILLING TO THINK ABOUT THE INEVITABILITY OF LOSING
If you’re the type of gambler who wants to bury their head in the sand and never think about losing, then this article is not for you. Willy wonka slot machine near me now. But if you want to tackle reality, then you can be a smart gambler and win more. Ironically, by never thinking about losing, you will lose more often.
There is a way to turn the inevitability of losing to your advantage. The key is discretionary comps, reimbursements or loss rebates, with reimbursements and loss rebates being the more powerful factor.
This article was inspired by the frequently asked question, ‘Do casinos comp odds’? I’m a heavy odds player, and I get this question frequently.
Despite myths about the odds bet, it’s mathematically undeniable that the odds bet has a zero house edge. So if the player can convince the casino to comp or give reimbursement based the odds play, and if the comps or reimbursements exceed the expected loss on the pass line bet, the player can then be in a profitable situation.
First, let’s do a quick primer on the question of comps on the odds bet.
At the end, I’ll give you some advice on how to get the casino to comp your odds bet, despite…
THE TECHNICAL ANSWER
Most savvy craps players and craps writers will state that casinos do not apply comps points to the odds bet. But not so fast!
This is true if we are talking about earned comps. The house may apply comps on odds bets, depending on circumstances.
If you don’t know the difference between earned comps and discretionary comps, you need to read my guide to comps and understand that difference. It’s very important to your long term success to know the difference.
The first step to turning a negative result into a positive is to understand how casinos work. As they say, knowledge is power.
A REFRESHER ON EARNED COMPS USING A SIMPLE ANALOGY
A game of craps, like most gambling games, is effectively a gussied-up coin flip. Sometimes, you might bet straight up heads or tails, and sometimes, you might bet that a certain sequence of events might happen, and that sequence will pay long odds.
Let’s pretend for a second that you and I are playing a coin flip game that is completely fair and true (it’s a 50-50 proposition). In this coin flip game, you have heads, and I have tails. When heads comes up, I pay you $1, and when tails comes up, you pay me $1. It’s a true odds proposition.
Let’s now make this more ‘casino-like’ (because casinos must make money to stay in business): when heads comes up, I pay you 99 cents, and when tails comes up, you pay me $1. I have approximately a .5% edge on you, assuming no ties (which is actually possible on a coin flip).
Let’s evolve this coin flip game to be even more ‘casino-like’…
Since I have a .5% edge on you, I will want you to keep playing. So in order to induce you into continuing your play, I tell you that for every hand you play, I will give you back .1% of your bet. Notice it’s ‘point 1 percent’, not ‘one percent’. This means that it takes ten coin flips for me to reimburse you 1% of your bet. I tell you that you can do whatever you want with the .1%. You can cash it out or spend it at my restaurant or gas station down the street.
I am giving you back a portion of your expected loss to me. Sounds exactly like a casino, right? This scenario is known as ‘earned comps’. You’ve earned the .1% by playing with me, and I give you the .1% based on our deal.
That’s earned comps in a nutshell.
WHY LOSING CAN BE GOOD FOR YOU AND HOW TO ABUSE THAT KNOWLEDGE TO YOUR ADVANTAGE
In this coin flip game, you will naturally sometimes lose, and naturally, you will sometimes win. Despite your best hopes and dreams, and despite your prayers to Fortuna, you will inevitably lose. Knowing that you will inevitably lose, you can then take advantage of the inevitability.
How?
Just so that I can illustrate my point, let’s use an example that clearly shows what we are trying to do.
Let’s pretend – continuing the above example – that you’re a big brat, big bully, or sore loser. After every single coin flip that you lose, you throw a tantrum. I’m afraid of looking bad to the other customers of my coin flip game, or I might just want you off my back because you’re giving me a headache. So after EVERY SINGLE coin flip that you lose, in order to calm and soothe you, I give you a 1 penny certificate to my store. That’s in addition to the .1% rebate I’m going to give you.
Every single time you lose, you throw a tantrum, and I produce a certificate that says, ‘Good for 1 cent worth of gas to the RoadGambler Gas Station’. This comp that I use to get you off my back is effectively a discretionary comp. It’s discretionary because I don’t have to issue it; rather, I issue it as I see fit, and I can decline to offer it.
Let’s now make the example more accounting friendly and say that instead of the discretionary 1 cent every flip, we prorate it out to a day’s worth of coin flips. Every day, we determine that you and I play 1000 games of the coin flip. Since I’m giving you 1 cent per loss, you will lose theoretically 500 times, which means I will give you 500 pennies, i.e., $5. So every day, I give you $5 in addition to the .1% that you ‘earn’.
If the RoadGambler gas station is not gouging at the pump, you are now playing a positive expectation game, especially since you naturally consume gas as part of your daily routine.
Notice that you can only throw a tantrum when you lose. When you win, you collect your prize money and move on. It’s the additional payout when you lose that brings you into positive expectation territory. In other words, on a win, you collect 99% of the true payout, whereas on a loss, with the bonus calculated, you are collecting 1.1%. 99+1.1% = 100.1% total payout.
Without the loss added to the equation, you cannot go over 100%.
Note that even if you are a coin flip ‘coin influencer’, and you think you can make your side of the coin land more often than 50%, the above ‘losing is good for you’ theory doesn’t change. Let’s say that you think you can influence the coin to land on your side to where you have an astounding 10% edge. Well, in that case, your theoretical total payout on the win will be $1.20 in the long run + 1.1 cents on the loss = a total edge of approximately 11.1%, using my very rough but simple math. Notice that even as a ‘coin flip influencer’, losing is still good for you because it adds to your total return.
Knowing what I just told you…
WHAT TO DO WHEN YOU LOSE AND HOW TO GET THE EDGE
Now that I’ve drawn my analogy, let’s bring this back to a real-world casino.
What you must do is get yourself a host who will give you their personal cell phone number. I’ve encountered my fair share of lazy hosts who will never return phone calls. If your host is a go-getter, they will have no problem giving you their personal phone number (sometimes, it’s a company provided phone number that’s used for both business and personal, which is okay).
Why do you need their personal cell phone? So you can argue for comps and reimbursements, and they won’t be able to ignore you!
Using the above example, you will inevitably have losing gambling trips and winning gambling trips, just like how you will have winning and losing individual ‘flips’ (anyone who tells you they always win is a liar or trying to sell you something…simple as that). Because you will have losing trips, every single time you have a losing trip, you will point out that you lost SOOOO MUCHHH money to their company and you want something in return.
You can ask for an airline voucher like I did…witness…
You can ask for rental car reimbursement…like I did…
The above is the literal cash in your pocket, which you would normally have spent anyways if you wanted a gambling vacation. Free online demo slots.
You can ask for very fancy rooms like I did…
Keep track of your losing trips. When you call your host, state the following: Please reimburse my airfare and car rental (or whatever expense you think is related) because on (date) I lost (state dollars lost). I won’t go back unless I get a reimbursement.
When you have a winning trip, you just collect your money from the cage and keep your mouth shut. Or you can try and push the envelope and make the reimbursement request on your wins. I’m at the point that I always ask, win or lose, and my host has become familiar with my requests.
If the host refuses to issue the reimbursements that I’ve described above, then keep shopping for another host or another casino. Hosts are disposable, and there are a ton of hungry hosts (in addition to the lazy ones) who will push the envelope to gain business. Some will make the reimbursement if you switch over to their casino, on the spot.
Shop, shop, and keep shopping for hosts. People shop for doctors until they get the diagnosis or medication the
https://diarynote.indered.space
*Don Johnson Gambler 2019
New Jersey’s Most Notorious Gamblers: Don Johnson At first glance, Don Johnson might appear to be just a former racetrack executive who enjoys. Don Johnson, Actor: Miami Vice. Best known for his starring role as Det. Sonny Crockett on the hugely successful TV series Miami Vice (1984), Don Johnson is one of the stars who really defined the 1980s. As James ’Sonny’ Crockett he went toe-to-toe with drug dealers, pimps, prostitutes, assassins, illegal arms-dealers and crooked cops on a weekly basis from 1984 to. Don Johnson passed away at 62 years of age in early May, 2003. The news was a shock to everyone in the bowling industry but was especially difficult for me personally. Only three evenings prior to Don’s passing, I had dinner with Don in Las Vegas.
October 3, 2019 General Gambling News by Kristina Vujadinovic
Every casino enthusiast knows the name, Don Johnson – the Atlantic City legend that won millions of dollars playing blackjack. His story is an inspiring tale of how one man managed, not to only to beat the house, but to take down three major casinos in Atlantic City for a $15.078 million between December 2010 and April 2011, without counting cards or any form of cheating.
It is the largest sum ever won in consecutive wins in blackjack, which put Johnson into the casino history books.Negotiating the Odds – First Step in Johnson’s Strategies
It seems impossible that anyone can win over $15 million fair and square in a period of five months. Yet, Johnson pulled it off. While everybody thought he was counting cards or executing some kind of elaborate scam, the truth is actually much more interesting than that.
He developed his own system that allowed him to beat the house in its own game. According to his interviews, Johnson explained that he didn’t just walk into a casino and start playing. In his opinion, playing casino games in Atlantic city was like throwing money away, as the rules of the game are set to give the house a significant advantage. His goal was to change the odds.
And that’s exactly what he did, by negotiating better terms before even approaching the tables. The tactic that most sophisticated gamblers and high rollers do. Surely, it might not work with average players, but casino management is usually very keen to negotiate a deal with players with a large enough bankroll.
The unfavorable environment in the gambling sector of Atlantic city after the financial crisis of 2008, made casinos desperate for customers, so they offered very beneficial deals for layers. Johnson knew exactly how to take advantage of such a climate.Perfect Timing
At the time Johnson began his winning streak, AC casinos were seeing a significant drop in revenue and were keen to attract high rollers. Desperate might be the better word since casino marketers were offering deals that no one in the New Jersey gambling industry had ever seen before.
Accepting a greater risk for the possibility of a larger return was the game plan for casinos at the time. For instance, Johnson had a lifetime discount at Borgata casino. He was getting a 20% rebate on each $500,000 he’d lose.
Under the rules before the crisis, this perk would kick in only after he would lose whatever amount he’d won on previous trips to the casino plus an additional half a million. When he realized such rules were skewed against him, he took a break on visiting until the most convenient chance opened up – which it did, since the gambling sector was struck hard by the economic crises in 2008.
Looking to solicit Johnson with more enticing inducements to return to Borgata, the casino executive offered him a historic deal by changing a lifetime discount into a trip-to-trip basis just to make it more appealing.
Due to the casino’s competition for high rollers, once Borgata closed the deal with Johnson, Caesars and Tropicana offered him similar terms. That’s how he was able to negotiate once-in-a-lifetime changes in rules and conditions.Bulletproof Plan and Sticking to It
Starting his winning streak at the Tropicana which is now operated by Eldorado Resorts, Johnson brought along a boatload of cash and negotiated a deal that effectively allowed him to play a 50/50 game of blackjack and to have a 20% on his losses on a visit-by-visit basis.
Book of dead movie. Johnson has approved a $100,000-a-hand limit since he had the cash to back himself up. Over the next 12 hours, he managed to work the odds in his favor, rolling with the punches and cashing in on the big wins. For such a short time, he won $6 million which resulted in the Tropicana CEO being fired a week later.
During play, Johnson was closely monitored by video cameras to see if he was using card counting strategies or cheating in any way. It turned out that he was winning fair and square, simply by using the basic blackjack strategy to ensure that every hand was played according to its merits.
After he ruined Tropicana’s revenues for the month, Johnson then moved on to other unsuspecting AC venue, generating a win of over $15 million dollars for its legendary five-month winning streak.
By using his rather large bankroll as a hook, Johnson continued playing blackjack via similar negotiation deals at Borgata and Caesars venues. He took down Borgata for $5 million and picked up another $4 million from Caesars before being politely asked to leave the premises.
Although he wasn’t specifically banned from the casinos after having his face printed across the newspapers, it’s not likely that Johnson will be getting such beneficial odds ever again.The Simplicity of His Strategy
After taking down Atlantic City casinos, he has become a local legend and an inspiration for many gamblers. Players with a taste for huge wins and high risks were eager to find out its secret. The truth is – there isn’t any magic formula.
It all comes down to math and negotiating better terms with casinos. Johnson himself explained that there is no point in risking your cash and playing a casino game where the odds are never going to be in your favor. Hence, the player needs to find a way to improve the odds in order to start to win.
When it comes to blackjack, this means:
*Sticking to the strategy
*Playing the perfect game
*Looking for the best odds
Aside from his skills and intimate gambling industry knowledge, Johnson is also an avid horse racing bettor and has been involved in equestrian performance sports for years. He grew up with racehorses on his uncle’s farm and worked as a professional jockey before being hired to manage Philadelphia Park racetrack back in the 1990s.
Johnson used his experience and keen intellect to serve as a state regulator in Texas, Oregon, and Wyoming, before making enough capital to found the company that develops custom-made software which defines risks and odds on horse wagering.
If Johnson was into making a lot of money, he could have used such background, and his obviously excellent negotiating skills to monetize on it.
However, he opted for blackjack and it turned out to be the smartest move due to a massive win of over $15 million over the course of only 5 months.Why Blackjack?
Johnson opted for blackjack because of the house edge and the idea that knowledge, intelligence, and discipline are needed when relying on skills and math to beat the house.
When it comes to this, no other game can stand toe-to-toe with 21. It is clearly shown by comparing the odds of other games.
Let’s take a peek at those numbers:
*Roulette – The mathematical advantage of the roulette in Europe is 2.7 percent, whereas in the American version it’s 5.26%.
*Baccarat – Comes with the house edge of 1.06% on the banker, 1.24% on the dealer, and whooping 14.36% on a tie.
*Caribbean Stud Poker – Is at 5.22% not including the casino’s rake.
*Slots – Can be anything between 5% to 12%.
*Craps – Even the closest companion of blackjack, lags with 1.41% or below, although it can go up to 1.6% to 2.7% on some bets.
In comparison, 21’s house edge is below zero by default – meaning if the player executes a proper blackjack strategy in a well-selected game variant the house edge drops down to between 0.2 and 0.4 percent.
However, with the proper strategy executed to perfection, the house edge is close to zero.
The only countermeasures at casinos’ disposal are the rules, which are being changed slowly, gradually, almost invisibly for the last sixty years in order to revert their advantage.
As the industry insider and a professional blackjack player, Johnson was utterly aware. It is exactly the reason why he negotiated the rules so wisely before taking a seat at the tables.
He knew precisely when was the right time to strike, beat them at their own game, and walk away with over $15 million. It is why he will remain as the legend who only by his own wisdom has conquered the toughest opponent – the house itself.
INTRODUCTION
Back in the early 2000s, Don Johnson became famous for winning millions of dollars playing blackjack without counting cards. For those of you who don’t know, here’s a news piece on his exploit.
https://abcnews.go.com/Business/blackjack-player-won-15-million-reveals/story?id=15971410
His method was not complicated. He simply used losing to his advantage.
In this article, I am going to explain how he did it. The TL;DR version is that when he lost, he was able to extract concessions and loss rebates, and when he won, he simply went on his way.
Even if you don’t win $15 million, you can use this knowledge to your advantage and extract money and other concessions from the casino.
I’ve been doing a much smaller version of the ‘Don Johnson’ approach for years. It’s become more difficult to execute because of Mr. Johnson’s publicity, but it’s still possible. While Don Johnson did it playing blackjack, my method involves a similar exploit on the craps odds.
For purposes of this article, since I am writing it from my own experience, I am going to refer to the craps odds bet; however, this method can really apply to any low edge casino game.
Here is the method, as I applied it to my craps play…
YOU MUST BE WILLING TO THINK ABOUT THE INEVITABILITY OF LOSING
If you’re the type of gambler who wants to bury their head in the sand and never think about losing, then this article is not for you. Willy wonka slot machine near me now. But if you want to tackle reality, then you can be a smart gambler and win more. Ironically, by never thinking about losing, you will lose more often.
There is a way to turn the inevitability of losing to your advantage. The key is discretionary comps, reimbursements or loss rebates, with reimbursements and loss rebates being the more powerful factor.
This article was inspired by the frequently asked question, ‘Do casinos comp odds’? I’m a heavy odds player, and I get this question frequently.
Despite myths about the odds bet, it’s mathematically undeniable that the odds bet has a zero house edge. So if the player can convince the casino to comp or give reimbursement based the odds play, and if the comps or reimbursements exceed the expected loss on the pass line bet, the player can then be in a profitable situation.
First, let’s do a quick primer on the question of comps on the odds bet.
At the end, I’ll give you some advice on how to get the casino to comp your odds bet, despite…
THE TECHNICAL ANSWER
Most savvy craps players and craps writers will state that casinos do not apply comps points to the odds bet. But not so fast!
This is true if we are talking about earned comps. The house may apply comps on odds bets, depending on circumstances.
If you don’t know the difference between earned comps and discretionary comps, you need to read my guide to comps and understand that difference. It’s very important to your long term success to know the difference.
The first step to turning a negative result into a positive is to understand how casinos work. As they say, knowledge is power.
A REFRESHER ON EARNED COMPS USING A SIMPLE ANALOGY
A game of craps, like most gambling games, is effectively a gussied-up coin flip. Sometimes, you might bet straight up heads or tails, and sometimes, you might bet that a certain sequence of events might happen, and that sequence will pay long odds.
Let’s pretend for a second that you and I are playing a coin flip game that is completely fair and true (it’s a 50-50 proposition). In this coin flip game, you have heads, and I have tails. When heads comes up, I pay you $1, and when tails comes up, you pay me $1. It’s a true odds proposition.
Let’s now make this more ‘casino-like’ (because casinos must make money to stay in business): when heads comes up, I pay you 99 cents, and when tails comes up, you pay me $1. I have approximately a .5% edge on you, assuming no ties (which is actually possible on a coin flip).
Let’s evolve this coin flip game to be even more ‘casino-like’…
Since I have a .5% edge on you, I will want you to keep playing. So in order to induce you into continuing your play, I tell you that for every hand you play, I will give you back .1% of your bet. Notice it’s ‘point 1 percent’, not ‘one percent’. This means that it takes ten coin flips for me to reimburse you 1% of your bet. I tell you that you can do whatever you want with the .1%. You can cash it out or spend it at my restaurant or gas station down the street.
I am giving you back a portion of your expected loss to me. Sounds exactly like a casino, right? This scenario is known as ‘earned comps’. You’ve earned the .1% by playing with me, and I give you the .1% based on our deal.
That’s earned comps in a nutshell.
WHY LOSING CAN BE GOOD FOR YOU AND HOW TO ABUSE THAT KNOWLEDGE TO YOUR ADVANTAGE
In this coin flip game, you will naturally sometimes lose, and naturally, you will sometimes win. Despite your best hopes and dreams, and despite your prayers to Fortuna, you will inevitably lose. Knowing that you will inevitably lose, you can then take advantage of the inevitability.
How?
Just so that I can illustrate my point, let’s use an example that clearly shows what we are trying to do.
Let’s pretend – continuing the above example – that you’re a big brat, big bully, or sore loser. After every single coin flip that you lose, you throw a tantrum. I’m afraid of looking bad to the other customers of my coin flip game, or I might just want you off my back because you’re giving me a headache. So after EVERY SINGLE coin flip that you lose, in order to calm and soothe you, I give you a 1 penny certificate to my store. That’s in addition to the .1% rebate I’m going to give you.
Every single time you lose, you throw a tantrum, and I produce a certificate that says, ‘Good for 1 cent worth of gas to the RoadGambler Gas Station’. This comp that I use to get you off my back is effectively a discretionary comp. It’s discretionary because I don’t have to issue it; rather, I issue it as I see fit, and I can decline to offer it.
Let’s now make the example more accounting friendly and say that instead of the discretionary 1 cent every flip, we prorate it out to a day’s worth of coin flips. Every day, we determine that you and I play 1000 games of the coin flip. Since I’m giving you 1 cent per loss, you will lose theoretically 500 times, which means I will give you 500 pennies, i.e., $5. So every day, I give you $5 in addition to the .1% that you ‘earn’.
If the RoadGambler gas station is not gouging at the pump, you are now playing a positive expectation game, especially since you naturally consume gas as part of your daily routine.
Notice that you can only throw a tantrum when you lose. When you win, you collect your prize money and move on. It’s the additional payout when you lose that brings you into positive expectation territory. In other words, on a win, you collect 99% of the true payout, whereas on a loss, with the bonus calculated, you are collecting 1.1%. 99+1.1% = 100.1% total payout.
Without the loss added to the equation, you cannot go over 100%.
Note that even if you are a coin flip ‘coin influencer’, and you think you can make your side of the coin land more often than 50%, the above ‘losing is good for you’ theory doesn’t change. Let’s say that you think you can influence the coin to land on your side to where you have an astounding 10% edge. Well, in that case, your theoretical total payout on the win will be $1.20 in the long run + 1.1 cents on the loss = a total edge of approximately 11.1%, using my very rough but simple math. Notice that even as a ‘coin flip influencer’, losing is still good for you because it adds to your total return.
Knowing what I just told you…
WHAT TO DO WHEN YOU LOSE AND HOW TO GET THE EDGE
Now that I’ve drawn my analogy, let’s bring this back to a real-world casino.
What you must do is get yourself a host who will give you their personal cell phone number. I’ve encountered my fair share of lazy hosts who will never return phone calls. If your host is a go-getter, they will have no problem giving you their personal phone number (sometimes, it’s a company provided phone number that’s used for both business and personal, which is okay).
Why do you need their personal cell phone? So you can argue for comps and reimbursements, and they won’t be able to ignore you!
Using the above example, you will inevitably have losing gambling trips and winning gambling trips, just like how you will have winning and losing individual ‘flips’ (anyone who tells you they always win is a liar or trying to sell you something…simple as that). Because you will have losing trips, every single time you have a losing trip, you will point out that you lost SOOOO MUCHHH money to their company and you want something in return.
You can ask for an airline voucher like I did…witness…
You can ask for rental car reimbursement…like I did…
The above is the literal cash in your pocket, which you would normally have spent anyways if you wanted a gambling vacation. Free online demo slots.
You can ask for very fancy rooms like I did…
Keep track of your losing trips. When you call your host, state the following: Please reimburse my airfare and car rental (or whatever expense you think is related) because on (date) I lost (state dollars lost). I won’t go back unless I get a reimbursement.
When you have a winning trip, you just collect your money from the cage and keep your mouth shut. Or you can try and push the envelope and make the reimbursement request on your wins. I’m at the point that I always ask, win or lose, and my host has become familiar with my requests.
If the host refuses to issue the reimbursements that I’ve described above, then keep shopping for another host or another casino. Hosts are disposable, and there are a ton of hungry hosts (in addition to the lazy ones) who will push the envelope to gain business. Some will make the reimbursement if you switch over to their casino, on the spot.
Shop, shop, and keep shopping for hosts. People shop for doctors until they get the diagnosis or medication the
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