Bellagio Las Vegas (A Complete Review) - VegasSlots.net

I spent several hours this past week coaching traders at my prop firm. And something caught my attention…
Every single one of these traders needed help with the same thing.
It has to do with what I call the “reverse” gambler’s fallacy. And it’s something many traders struggle with.
Today, I’ll show you how to get this common obstacle under control… and start earning more consistent returns year after year…
What Most New Traders Get Wrong
The obstacle I’m talking about is trading psychology. It’s a very broad term used to describe the emotional side of trading.
Almost all new traders believe the most important part of trading is being able to analyze markets like a pro.
On the surface, this logic makes sense. After all, if you can reliably forecast which direction to take on a trade, the money should take care of itself… right?
What these novices don’t yet understand is that something special happens the moment you commit your money to a trade…
You start feeling things.
Whether it’s fear, excitement, anxiety, or a mix of all three, no one is immune to these emotions. And they can wreak havoc on even the best planned trades.
You may be able to call the direction, the timing, and the target price to perfection… But it can all be for nothing if you are unable to stick to your trade plan.
I can’t tell you how many times I’ve seen traders plan out a great trade… But then ended up somehow losing money, or not being in the market when the move they’d forecast played out.
So how do you beat your emotions to become a better, more consistent trader? It comes down to the three key parts of trading. Let me explain…
The Three-Legged Stool of Trading
I think of trading as a three-legged stool.
Your methodology/strategy for picking trades is the first leg. Your risk- and trade-management strategy is the second leg. And the third leg is your trading psychology.
In my experience, most traders focus on the first leg (strategy and methodology), and they neglect the other two legs. But the stool needs all three legs to stand on its own.
Over the years, I’ve honed my own proprietary method to develop well-rounded traders. Here’s what I’ve learned…
The first fundamental building block of a profitable trader is to establish a proven strategy/methodology you can use to identify good trades. In my experience, everything follows from this foundation.
How you manage your risk and your trades should be determined by the strategies you employ. Your trading psychology likewise will be influenced by your approach to risk and trade management.
I’ve seen other trading instructors assign arbitrary percentage values to the three legs of the trading stool. Usually these values are divided up like this: 30% to the level of importance on the analytical strategy, 30% to risk and trade management, and 40% to trading psychology.
But I don’t believe that any one leg is more important than the other. And yet I’ve found that, more often than not, traders neglect risk/trade management and psychology.
So how do you stop neglecting these two important areas to become a more well-rounded trader? That’s where our reverse gambler’s fallacy comes in…

Time to Ditch the Casino Mentality
There is one block that seems to stop traders from progressing to working on the other two legs.
That is, they don’t know how to flip the switch from thinking about their trades as individual trades in a vacuum… to thinking about them as a collection that relies on a statistical edge to net a profit.
Most traders run into this problem at some point in their careers. And if you’re frustrated with your trading right now, chances are you may be struggling with this, too.
It’s known as the casino mentality. And it’s the same mindset that amateur gamblers will take with them into Caesars Palace or the Bellagio.
It doesn’t matter if they’re seated at the blackjack table or standing over the roulette wheel. Most gamblers believe that the hand or spin they are about to play is the opportunity to hit a winner.
After all, if the roulette wheel has landed four black spins in a row, the next one surely must be red, right?
In reality, the chances of the roulette ball landing on black or red is even, at about 47.4% each. This means each spin is independent of the last.
This is also known as the gambler’s fallacy. What’s interesting is that I’ve observed a kind of reverse gambler’s fallacy from many traders…
This occurs when a trader, who does in fact have a statistically proven strategy, goes on a losing streak… And then instead of continuing to trust their strategy, they abandon it altogether.
How to Avoid the “Reverse” Gambler’s Fallacy
I saw this logical fallacy in effect this past week during one of my coaching calls.
The trader I was coaching had recently taken a technical setup that simply did not work. He was convinced he had done something wrong and wanted my help in improving his analysis.
But his analysis was great.
He didn’t do anything wrong in identifying the setup, which was textbook in nature. But the setup looked so good that, when it resulted in a loss, the trader was convinced that he was the problem… That he did something wrong.
The lesson I imparted to him, which I now want to pass on to you, is this very simple truth…
Nobody, and I mean nobody, ever takes a trade thinking it is going to be a loser. Every single trade you take will be because you thought it would make you money.
Despite this feeling of confidence, out of 100 trades, you’d be lucky to win 50% of them.
That’s why a great trader is not defined by what percentage of their trades end up as winners or losers. A great trader is defined by whether or not they are net profitable after taking 100 trades.
If you win roughly as many trades as you lose, but your winners make you 2x or 3x the amount of money you give back on your losers, you will end up with a nice profit at the end of the year.
Remember, nobody ever takes a trade thinking it is not going to work out. This is why it is absolutely crucial to abandon the idea of thinking about your trades as individual trades.
Instead, start taking a more data-driven, statistical approach to your trading. What do I mean by that?
Keeping a longer-term perspective on your trading is the key to longevity in this business. What your numbers look like over the next 100, 200, or 300 trades is far more relevant and important than losing your cool because you lost a handful of trades in a row.
Of course, to be able to make it to 300 trades, you must have a rock-solid risk management plan in place.
I don’t see gamblers at the casino take a professional approach very often. It’s rare to see someone bet small and stick to the odds on every play. It’s far more common for gamblers to be all over the place with the size of their bets.
They may start off betting small, but after winning a couple of hands of blackjack, they get overconfident and take an outsized bet. Sure enough, on that next hand they go bust while the house just happens to hit blackjack.
This is how casinos make money from gamblers. And it’s how the market parts amateur traders from their capital.
No doubt, it takes a lot of hard work and discipline to make the transition from amateur to professional. But, I promise you, the rewards make it all worthwhile. Until next time.
Regards,

My uninteresting poker story. Is it time to give up on the dream or do I gather myself and make one last run at it?

Ultimate Gambling Guide for GTA Online - odds, probabilities, and optimal strategies

Since the Diamond Casino update, I have seen a large number of 12-year-olds posting Blackjack memes on this sub. As a parent, this has me very worried.
On top of that, I have seen some of the most trustworthy GTA Youtubers giving flawed gambling advice, which can have damaging impact on their gullible audiences.
So that's why I decided to write this up, to educate everyone on the subject, so there will be no more misunderstandings.
(2020 Update down at the bottom.)
If you're one of those Youtubers that wants to use this information in a video, feel free to do so. The more people (especially kids) that become educated about gambling, the better.
But then also please go back and review your own work, and delete or edit the videos that are giving out the wrong advice, like where you're saying you have "a good strategy for making money with roulette", or some other nonsense that I've heard this week. Delete that please.
Before I get into the individual games, I need to discuss a few concepts first, that will make understanding the rest a lot easier.

Expected return and variance
A game like Roulette or Slots has a fixed expected return on your bets. This is a percentage that you have no way of influencing. Say you are flipping a coin against a friend, and you both put up $1. The winner gets the pot. Since the odds are even at 50%, in the long run, you will expect to break even. Your expected return is 100% of your bet.
But imagine if you would play this coin flipping game in a casino against the house. On the "house rules" listed at the table they would probably say that you would only get 95 cents back for every win, while you are forfeiting a dollar on every loss. Would you still play?
Sounds stupid to do so, but still, everybody does it. Every bet they place on Roulette, every coin they put into a Slot machine, is based on the same concept.
Those few cents they take on every bet are their profit margin, and has paid for all the Vegas lights, the Mirage volcanoes, and the Bellagio fountains. Make no mistake - casino gambling games are not designed to make you lose, because sure, you can get lucky on a single night, but they are designed to make them win. That's the beauty of it. They can both exist at the same time.
Too many people that don't see how this works, are just destined for disaster. Just because you went on a lucky streak and won 8 games out of 10, does not mean that flipping coins is a profitable game, or that choosing tails is a winning strategy. Always be aware of the house edge, your true chances of winning, and just realize that you got lucky. There is no such thing as a strategy in flipping a coin that will give you a higher expected return, so it's just pure gambling, just like Slots and Roulette.
Most casino games are made in such a way, that your expected return is a little under 100%. This means that from every dollar bet at the tables, the casino expects to keep a few cents. For individual players, results may vary. Some will win, most will lose. But for the house, it doesn't matter. They take millions of bets each day, so for them, the expected average works out a lot sooner. In short: the house always wins.
When looking at the house edge, we're talking about the expected long-term result, based on the game's house rules. But for a player, it can take literally tens of thousands of hands or spins before you also reach this average number. Until that time, you can experience huge upswings and downswings, that are the result of nothing but short-term luck, which is called variance.
Some games and some bets have a much higher variance than others, which means your actual results will differ enormously from what you're expected to be at.
Take for example betting on red/black at the Roulette table. This is a low-variance proposition, because it has a high percentage chance of occurring, and a low payout.
Contrast this with betting single numbers in Roulette, which only win once every 38 spins on average. This bet has a much higher variance, meaning you can easily hit a dry spell, and not hit anything for 200 bets in a row, or you can see a single number hit three times in five consecutive spins. This is not a freak occurrence in high-variance bets.
Even though the expected return in both these bets is exactly the same, there's a huge difference in variance, causing massive differences in short-term results, which can go both ways. You need to be aware of this, before you decide what types of bets you are comfortable with placing.

Gamblers' Fallacy
Another thing to realize, is that each individual game, hand, or spin, is completely independent from the one(s) before it, and after it.
Gamblers tend to believe, that the chance of a certain outcome is increased, based on previous results.
The most famous example comes from the Casino de Monte Carlo, where the Roulette wheel managed to land on black 26 times in a row. Gamblers lost many millions during that streak, all frantically betting on red, believing that the odds were in favor of the wheel coming out on red, after producing so many blacks. This is not true. Each round is completely independent, and the odds are exactly the same.
You will hear people say things like a Blackjack table being "hot" or "cold", which is completely superstitious, and should be ignored. The exception was when Blackjack was being dealt from a shoe. It made card counting possible. But with the introduction of shuffle machines, and continuous shuffling like is being used in GTA, this no longer exists.
This is also why "chasing your losses" is a very bad idea. After being on a losing streak for some time, many gamblers believe that now it's their turn to start winning. So they will often increase their bet size, believing that when their predicted winning streak comes around, they will win back their losses, and more.
The reality of it, more often than not, is that people will indeed start playing higher and higher limits, until they are completely broke. Nobody is ever "due for a win". There is never a guarantee that you're about to start winning. In fact, the opposite is more likely to be true. You are, after all, in a casino.

Betting systems
Some people like to think that they have a fool-proof betting system, like the Martingale system. Simply increase or even double your bet when you lose, and keep doing that until you win. In theory, this system will always win. So that's why table limits were introduced, and where the system fails.
If you start at the Roulette table, playing red/black, with a small 750 chip wager, and just double your bet every time you lose, you only have to lose 6 times in a row, before you will be betting the table limit of 48,000, just to get that 750 chip profit.
Sure, you can go on all evening without this happening, winning 750 chips each time, but this losing streak only has to happen once, and you're bust. Any betting system like this is ill-advised, because you are hugely increasing your so-called "risk of ruin", and that's what we were trying to avoid.
And even if your starting bet is only 100 chips, after only nine straight losses, and nine doubled bets, you are betting the table limit at 50,000 chips. If you lose that bet, you're 100,000 chips in the hole, with no way to recover that with your 100 chip base wager.
So don't believe anyone that says this is the perfect system to always win in the casino. Sooner or later they will understand why they were wrong, when they're asking you for a loan.

Set your limits BEFORE you start playing
One final point before we get into the games, a general tip for people that head out to play: money management.
Just like in real life, before you go to the casino, decide on a maximum amount that you are WILLING TO LOSE.
Bet small enough, so that amount can last you through the entire evening, and you will not be tempted to run to the ATM to continue playing.
Considering GTA money, some people will be comfortable losing 1% of their GTA bank balance, some people will be comfortable with gambling away 5% of their total GTA savings. It's up to you what you can handle. Decide for yourself where it will start to hurt, and don't cross that line.
But whatever number you decide on, as soon as you lost that amount, get up and walk away. Don't chase your losses, stick to your limits, and accept that this has not been your day. There is always another game tomorrow. Always agree with yourself on a simple stop-loss rule, how much you would want to lose at most, and simply stop playing when you get there.
Same goes for winning. You can decide on a number, how much profit you would like to take away from the casino. You can go on a hot streak and be up half a million in a short period of time, but if you would continue to play longer, looking for more, chances are that you're going to lose it all back.
Most people are happy with doubling their daily casino budget, for example. Others are looking for 10 bets profit in Blackjack. Whatever you choose, when you hit that number, you can stop playing and bank your profits, or you can continue playing if you're still enjoying the games, but then only just play minimum bet sizes. Then you're just playing for fun, not for money. You've already made your profit, so simply keep it in your pocket, and don't risk losing it again.
Either way, decide on what your money management strategy will be, and STICK TO IT.

Casino games in GTA Online
Now, I'm going to dive into the games that you can find at the Diamond casino, ordered from worst to best.

6) Slots
Generally the rule is this: the less strategy a game has, the worse it is for the player. And with slots, this is definitely the case.
The only influence you have, is choosing what type of machine you're going to play. Basically, there are two types of slot machines:
-high frequency, low payout slots
-low frequency, high payout slots
In the first type, there is no huge (progressive) jackpot on offer, just your average selection of prizes that don't go up to crazy amounts.
This will result in a player having many more spins resulting in a win. The amounts that you win on the bigger prizes, will be smaller, but they do come around more often. This type of slot machine has a lower variance, which means that your money should last you longer, winning many smaller prizes along the way to keep you going.
The second type of slot machine lures you in with the temptation of a huge jackpot prize. Even though the long-term expected return on these machines is the same as the previous type, the prize distribution is hugely different. The large jackpot prize weighs heavily on the scale of expected return, but the chance of it hitting is extremely small. This results in a much higher variance on this type of machine. Usually your money will go down very fast, because the smaller prizes are less rewarding than on the other type of machine.
At the Diamond, the info screen says the player return at slots is set at 98.7%. This means that, on average, for every maximum bet of 2,500 chips, you expect to lose 32.5 chips.
This might not seem like a lot, but the danger of slots is that the game is extremely fast. You can spin about once every 6 seconds, which would result in an expected LOSS of about 20,000 chips per hour of playing.
But again, in this long-term expected number, the large jackpot awards are also factored in, and as long as you don't hit those big prizes, you'll see your money go down a lot faster.
In any case, thank heavens the max bet is only set at 2,500, or else we would see more players go bankrupt at alarming rates.
Optimal strategy for slots:
There is none. Because after betting, you have no more influence over the outcome. The only choices you have, is what type of machine you want to play at, and how much money you are going to risk. And those are all personal preference. As long as you stick to your loss limits, as discussed above, there's no harm in having a go every once in a while, hoping to get a lucky hit. Just realize that you don't have a high chance of scoring a big win, so as soon as you do, get up and walk away.

5) Roulette
Roulette is also a game where you have no influence over the outcome. There is zero skill involved. You place your bet, and that's it.
In traditional French roulette, a table has only the single-zero, but of course, for American casinos that wasn't enough of a house edge, so they simply doubled their profits by adding a second zero. The house edge was increased from 1/37 to 1/19, which is huge.
This makes playing on a double-zero roulette table by definition a sucker's play.
The payouts scale evenly, which means that a bet on a single number, and a bet on half of the numbers, and everything in between, yields the same expected return. The only difference, again, being the variance that you are willing to subject yourself to.
The player return for double-zero Roulette for all bets is 94.74%.
Except for the 5-number bet, which can only be made by placing a bet on the two top rows that contain 0, 00, 1, 2 and 3. The expected return on this bet is lower: 92.1%. This is because it only pays out 6-1. Why? Well, the number 36 isn't divisible by 5, so the greedy people that came up with double-zero Roulette had to round it off someway, and as expected, it wasn't going to be in the players' favor.Just remember that that 5-number bet is the worst bet at the table, and should be avoided. All other possible bets have the same expected return.
So it really doesn't matter how you spread your bets, if you bet only one chip, or if you litter the entire table with a bucketload of chips. Each chip you put out there, has the same expected return, so there is no strategy that will improve your long-term results.
Assuming that you're betting the maximum table amount of 50,000 chips, you will be looking at an expected loss of about 2,630 chips per spin. Considering that a round takes about 45 seconds to complete, your expected LOSS at the GTA Roulette tables will be around 200,000 chips per hour of playing.
Optimal strategy for double-zero roulette:
Stay away. Stay far away.

4) Three Card Poker
With Three Card Poker, we come across the first game where there is actually some strategy involved. You get to look at your cards, and then decide if you want to fold, and surrender your ante, or double your bet.
Additionally, you can choose to place a side bet on "Pair Plus", which offers progressive payouts.
There are some websites out there that ran all the numbers with computer simulations, and even though I would like to quote the source here, these websites are understandably littered to the max with online casino ads, so that's why I have decided against doing that.
Optimal strategy for Three Card Poker:
For this game you only have to remember one strategy rule: Always bet on any high card queen-six-four or better, and fold any high card queen-six-three or lower. That's it. Just don't forget to double check if you're not folding a straight or a flush, and you'll be fine.
This strategy will result in an expected return of 96.63%.
The Pair Plus sidebet, with the payout table that is used at the Diamond casino, gives you an expected return of 97.68%, which is actually a bit better than the main ante bet.
So by playing both wagers, you're reducing your expected losses per bet, but since you're betting more, you're also increasing your expected loss per hour.
My advice would obviously be to not play this game at all, but if you do, put as much of your bet as possible on the Pair Plus, while making our Ante bet as small as you can.
To be able to compare it to the other games at the Diamond, let's stay on that 50,000 maximum wager, meaning making your ante bet 35,000, and your pair plus bet 15,000, if the table would allow it.
This results in an expected loss of about 1,525 chips per hand, and with a round taking about 45 seconds, this adds up to an expected LOSS of around 120,000 chips per hour of playing. In comparison, if you would only play the ante bet for 50,000 per hand, you expect to lose 1,685 chips per hand, which means an expected LOSS of about 135,000 chips per hour. So the more out of that 50,000 wager you can put on the "Pair Plus" sidebet, the better.
Even though it may be fun to try out this game for a bit, since there's only one simple strategy rule to follow, you'll soon find yourself robotically grinding down your bankroll until it has vaporized. You're not missing out on anything if you skip these tables, there is no real challenge.
Just like with Roulette and Slots, if you want to try it out nonetheless, you can just bet the minimum amounts and only play for fun, so it won't matter if you win or lose.

3) Blackjack
Blackjack is the most complicated game by far. Simply because the player has to make a series of decisions, which will largely decide the outcome. Luckily, there is such a thing as an optimal strategy, which will be outlined below.
However, the strategy is also dependent on the house rules. These not only affect your expected return, but in some places also your decisions.
Here are the house rules at the Diamond casino:
-The game uses 4 standard decks, and a continuous shuffle.
-Blackjack pays 3 to 2, dealer checks for early blackjack.
-No insurance offered, no surrender.
-Dealer stands on soft 17.
-Double down on any two cards.
-Player can split only once, but doubling after split is allowed.
-Seven-Card Charlie.
Under these rules, and following the "basic strategy" chart, your expected return at Blackjack is a shade under 99.6%, which is extremely good for a casino game, that's why Blackjack should be your table game of choice.
But it comes at a price: you are going to have to memorize the relatively complicated strategy chart, or at least stick it to your monitor until you have it in your head. But in case you ever stumble into a real-life casino, you won't regret having this table memorized, so I would definitely advise you to work on that.
The strategy chart might look complicated at first, but you will be able to notice certain patterns. Your decisions are mainly based on the dealer's upcard, which is basically divided into a weak card (2 to 6), and a strong card (7 to ace).
When a dealer shows a strong card, you will be hitting more often with the risk of going bust, but when a dealer shows a weak card, you're not taking that risk, and you will be standing more, but also doubling and splitting more. You want to increase your bets when the odds are in your favor, and get out cheap when they're not.
But it also helps to take some time to think about why a certain advice is given. For example, why does it say that you always have to split two eights, even against an ace. Well, that's because two eights equals 16, which is the worst total you can have. It's better to split them up, and give yourself a chance of finding a 17, 18 or 19 with the next card. Once you see the logic in that, you'll have one less thing to memorize.
The playing advice in the basic strategy chart is a result of computer simulations that ran all possible outcomes against each other, and produced the most profitable decision for each situation. So you can't go wrong following it.
Optimal strategy for Blackjack with Seven-Card Charlie
The added house rule of Seven-Card Charlie, adds a small advantage for the player, and it does influence a few strategy decisions. For example, you might have a 14 with 6 cards, against the dealer's 5 upcard.
Normally this would be an automatic stand, but if you're only one card away from the Seven-Card Charlie, meaning an instant win for the player, regardless of the dealer's hand, it turns it into a hit.
Here's the most optimal strategy chart to follow for the Diamond Casino house rules: https://prnt.sc/olct6g
You'll see that two fives are missing from the chart, and that's because you never split them. You treat them as a regular 10. You also never split tens. Just stand on 20.
If you follow this strategy religiously, even with a maximum wager of 50,000 chips, you only expect to lose about 215 chips per hand, and with rounds taking about 30 seconds, that amounts to an expected LOSS of 26,000 chips per hour, which is only half a bet. A small price to pay for an hour of entertainment.
But since the expected return is so extremely close to 100%, you will see more positive short-term results than with other games. But obviously it can also swing the other way. Again, this is supposed to be the game where your money lasts you the longest, but always set your loss and win limits before you sit down. That rule simply always applies.

Still, even with optimal strategies applied, all these games are expected to lose you money in the long run. So betting any kind of large amounts is not advised. If you simply want to enjoy playing these games, there's nothing wrong with betting a minimal amount. Playing these games for a longer period of time will already cost you money anyway, since your daily property fees will still be charged while you're playing in the GTA casino. As long as you can play for fun, there's nothing wrong, but when you see yourself betting insane chunks of your entire bank balance to try to recoup some unfortunate losses, you're doing it wrong.
As the commercials in Britain all correctly say: when the fun stops, stop.

2) Virtual Horse Racing
Now onto the good stuff. I ran some numbers, and I believe Rockstar has made a mistake with the horse racing game. Because as it stands, and if I read the numbers correctly, this game is actually profitable for the player. You can actually make money with this, at least, until Rockstar figures out their mistake and patches it.
If anyone wants to jump into the math and double check this to make sure, please do so. I will add any corrections to this post. This is one of those "to good to be true" things, so I keep thinking that I might have overlooked something. So please verify it if you can.
The setup is this. There is a pool of 100 horses, each with their own attached payout. These are divided into 3 groups, ranked by their odds. From each group, 2 horses are randomly selected to provide a pool of six runners for you to bet on.
Now it's not an actual race you're looking at. You are looking at a raffle. This is important to realize.
Each horse gets awarded a certain number of raffle tickets. The favorites get awarded more tickets than the underdogs, and therefore, have a higher chance of winning.
If this distribution works like it does in the real-life casinos, then the raffle tickets are awarded according to the betting odds.
Example 1: imagine a race with 3 runners, all have 2/1 odds, representing a 33.3% chance of winning. (Because 2/1 means 2 AGAINST 1, so 3 total.) In this case, each horse gets one third of the raffle tickets, giving them an equal chance to win.
Example 2: imagine a race with 3 runners, one has 1/1 odds (or EVENS), representing a 50% chance of winning, and the other two horses are marked up as 3/1, with a 25% chance of winning. The favorite gets half the tickets, the other two get a quarter of the tickets each.
A ticket is drawn, and you'll have a winner.
It doesn't matter in this game which horse you bet on, because the expected return is always the same: 100% or break-even, for the above examples.
Now, what happens if the percentages don't exactly add up to 100%?
They must add up to 100%, because there will always be a winner. And only one winner.
So when this is the case, the actual winning chances of the horses are adjusted to meet the 100% requirement, using their payout odds to determine the scale.
So, if the represented percentages add up to more than 100%, the actual winning chances of the runners will be DECREASED, resulting in all bets becoming losing propositions for the players.
Example: In a 6-horse race, all runners are listed at 4/1, representing a 20% chance. Only with six runners that amounts to 120%. So all chances are scaled down by 1/6th, to end up at 100%.
This means your horse's chances are reduced from 20% to 16.67%, turning it into a losing bet: 5 times you will lose your bet, and 1 time you will win, but only get 4 bets back in this instance, instead of 5. A losing bet in the long run.
This is the type of odds that you find in regular casinos, with fields as large as 15 runners to bet on, where the assumed winning chances always add up to more than 100%, therefore are decreased for all runners, resulting in a house edge.

But in GTA Online's Inside Track, there are other scenarios, because of the small field, and the way that they are put together.
In some cases, the represented percentages when added up, are LESS than 100%, meaning that the actual winning chances of all runners, are INCREASED.
This creates profitable bets for the players, because in the long run, you're expecting to win more money than you lose. This is a gambler's dream, pure and simple.
So, according to the in-game information, the three groups of horses are divided as follows:
-Favorites: EVENS to 5-1
-Outsiders: 6-1 to 15-1
-Underdogs: 16-1 to 30-1

Let's take the two most extreme examples to show what's happening.
The worst possible field to bet on: two runners at EVENS, two runners at 6-1, and two runners at 16-1.
EVENS represents a 50% chance, 6-1 is 14.29%, and 16-1 is 5.88%. Add those up and you land on a total of 140.34%.
This means that the actual winning chances of the horses are decreased by 28.75% (to get that 140% down to 100%), which makes betting on this field extremely unwise.
A horse at EVENS will only come in as a winner 35.63% of the time, instead of 50%,
a horse at 6-1 will only win 10.18% of the time,
and an underdog at 16-1 will only win 4.19% of the time.

The expected return on a bet on any of the horses in this field is only 71.26%, so a maximum bet of 10,000 chips on any of these horses holds an expected LOSS of 2,875 chips.
These returns are the same, because the winning chances are scaled equally, according to the payout numbers. So it really doesn't matter which horse you bet on, in the long run, you expect the same results.
But as explained before, it does influence variance, and therefore your short-term result, which can swing both ways.

But now, the best possible field to bet on: two runners at 5-1, two runners at 15-1, and two runners at 30-1.
Odds at 5-1 represents a winning chance of 16.67%, 15-1 odds means 6.25% chance, and 30-1 odds means a 3.23% chance of winning. Add these six horses together, and you only get 52.285%.
This means that, to get from 52% to 100%, the actual winning chances of these horses will be almost doubled! Multiplied by 1.91 to be exact.
So the 5-1 favorites will now win 31.88% of the time, instead of 16.67%,
the 15-1 runners will win 11.95% of the time,
and the underdogs at 30-1 odds will still win 6.17% of the time.
When betting on this field, the expected return on your bet is 191.25%!
This means that a max bet of 10,000 chips will result in an expected PROFIT of 9,125 chips.
This is printing money, if there ever was such a thing.
Optimal strategy for Virtual Horse racing
So all you have to do, is only bet high on the games where you have an expected positive return, and bet the absolute minimum on the games where your expected return is negative. Or back out of the racing game to refresh the field.
If you don't have a way to quickly add up all the percentages, and until somebody shows up here with a neatly formatted table, just use a few general rules of thumb:
-Always bet the maximum on a race with favorites at 2/1 and 3/1 or higher in it.
-Simply skip all races with two favorites at EVENS in it, and at EVENS and 2/1. Or bet the minimum, if you can't skip or refresh the field.
-To decide if you should play races with other favorite combinations EVENS and 3/1, EVENS and 4/1, EVENS and 5/1, or two favorites at 2/1, the payouts on the other four runners determine whether or not it's profitable to play them. The results of betting on these fields vary from an expected 1,330 chip loss (worst-case) to an expected 1,680 chip win (best-case), with a max bet of 10,000 chips.
But if you're not looking for another strategy chart, you might just want to skip these borderline cases, and just cherry pick the best ones, which are easy to recognize, and with which you can never go wrong.
It's difficult to put a number on an expected win-rate, because it all depends on which fields you get presented with, but it's not unreasonable to state that you can maintain a steady win-rate of around 200,000 chips per hour, with about 50 seconds per race.
Remember, you're not trying to win every race. You're trying to win the most money per hour. So don't sweat it when you bet on a 4/1 favorite, and lose a couple of races in a row. It will still be more profitable in the long run. You have the math on your side.
To reduce negative variance, always bet on the favorite, when betting on profitable fields. We're not gambling anymore, we're grinding out a steady profit. We want to keep the swings to a minimum.
I contacted Rockstar support to verify if this is indeed how it works, but the only reply I got after 6 weeks is that they were "looking into it".
User u/Garsant made a useful Excel-worksheet, available for you to download, where you can quickly type in the payouts on the horses, to see if it produces a profitable bet or not. You can find it in his post here: https://www.reddit.com/gtaonline/comments/ekp8na/gta_online_inside_track_odd_calculato

1) Wheel of Fortune
The number one profitable casino game in GTA Online is obviously the Wheel of Fortune, because it costs you nothing to play.
Unfortunately, you only get one free spin per day, but it holds great value, so make sure you do it.
With a chance to win a super car, vehicle discounts, expensive mystery prizes (which also can be vehicles), and a lot of cash and chips, the expected return on a single spin is around $100,000 in value.
So don't forget your daily spin, it's definitely worth your time.

2020 Update:
As of the Diamond Casino Heist update, the Inside Track horse racing is confirmed to still be as profitable as outlined above.The only thing that seems to be changed, is that you can't refresh the field anymore by backing out of the screen. This does affect your hourly rate in a negative way, but does not change the fact that this game has a huge positive expected return, and should be your go-to when you're trying to take money from the house, without having Lester's nagging voice in your ear. That should also be worth something.

And with that, I conclude my 5,000 word essay on gambling in GTA. Questions, comments, feel free to add your input to this guide.

Cliffs:
-Gambling games should only be played for fun, not for big money. You should expect to lose in the long run. The house always wins.
-A casino game doesn't have a memory, and betting systems don't work.
-Set your limits before you start, how much you are willing to lose or win, and then walk away when you get there.
-Don't play slots, roulette, or three card poker.
-Only play blackjack following a basic strategy chart (https://prnt.sc/olct6g).
-Inside Track betting can be played profitably, if you only bet on fields WITHOUT a heavy favorite.
-Wheel of Fortune is always your best bet, because it's a free bet.

Ultimate Gambling Guide for GTA Online - odds, probabilities, and optimal strategies

This is not mine, the creator of this is u/enderpiet

Since the Diamond Casino update, I have seen a large number of 12-year-olds posting Blackjack memes on this sub. As a parent, this has me very worried.
On top of that, I have seen some of the most trustworthy GTA Youtubers giving flawed gambling advice, which can have damaging impact on their gullible audiences.
So that's why I decided to write this up, to educate everyone on the subject, so there will be no more misunderstandings.
(2020 Update down at the bottom.)
If you're one of those Youtubers that wants to use this information in a video, feel free to do so. The more people (especially kids) that become educated about gambling, the better.
But then also please go back and review your own work, and delete or edit the videos that are giving out the wrong advice, like where you're saying you have "a good strategy for making money with roulette", or some other nonsense that I've heard this week. Delete that please.
Before I get into the individual games, I need to discuss a few concepts first, that will make understanding the rest a lot easier.
Expected return and variance
A game like Roulette or Slots has a fixed expected return on your bets. This is a percentage that you have no way of influencing. Say you are flipping a coin against a friend, and you both put up $1. The winner gets the pot. Since the odds are even at 50%, in the long run, you will expect to break even. Your expected return is 100% of your bet.
But imagine if you would play this coin flipping game in a casino against the house. On the "house rules" listed at the table they would probably say that you would only get 95 cents back for every win, while you are forfeiting a dollar on every loss. Would you still play?
Sounds stupid to do so, but still, everybody does it. Every bet they place on Roulette, every coin they put into a Slot machine, is based on the same concept.
Those few cents they take on every bet are their profit margin, and has paid for all the Vegas lights, the Mirage volcanoes, and the Bellagio fountains. Make no mistake - casino gambling games are not designed to make you lose, because sure, you can get lucky on a single night, but they are designed to make them win. That's the beauty of it. They can both exist at the same time.
Too many people that don't see how this works, are just destined for disaster. Just because you went on a lucky streak and won 8 games out of 10, does not mean that flipping coins is a profitable game, or that choosing tails is a winning strategy. Always be aware of the house edge, your true chances of winning, and just realize that you got lucky. There is no such thing as a strategy in flipping a coin that will give you a higher expected return, so it's just pure gambling, just like Slots and Roulette.
Most casino games are made in such a way, that your expected return is a little under 100%. This means that from every dollar bet at the tables, the casino expects to keep a few cents. For individual players, results may vary. Some will win, most will lose. But for the house, it doesn't matter. They take millions of bets each day, so for them, the expected average works out a lot sooner. In short: the house always wins.
When looking at the house edge, we're talking about the expected long-term result, based on the game's house rules. But for a player, it can take literally tens of thousands of hands or spins before you also reach this average number. Until that time, you can experience huge upswings and downswings, that are the result of nothing but short-term luck, which is called variance.
Some games and some bets have a much higher variance than others, which means your actual results will differ enormously from what you're expected to be at.
Take for example betting on red/black at the Roulette table. This is a low-variance proposition, because it has a high percentage chance of occurring, and a low payout.
Contrast this with betting single numbers in Roulette, which only win once every 38 spins on average. This bet has a much higher variance, meaning you can easily hit a dry spell, and not hit anything for 200 bets in a row, or you can see a single number hit three times in five consecutive spins. This is not a freak occurrence in high-variance bets.
Even though the expected return in both these bets is exactly the same, there's a huge difference in variance, causing massive differences in short-term results, which can go both ways. You need to be aware of this, before you decide what types of bets you are comfortable with placing.
Gamblers' Fallacy
Another thing to realize, is that each individual game, hand, or spin, is completely independent from the one(s) before it, and after it.
Gamblers tend to believe, that the chance of a certain outcome is increased, based on previous results.
The most famous example comes from the Casino de Monte Carlo, where the Roulette wheel managed to land on black 26 times in a row. Gamblers lost many millions during that streak, all frantically betting on red, believing that the odds were in favor of the wheel coming out on red, after producing so many blacks. This is not true. Each round is completely independent, and the odds are exactly the same.
You will hear people say things like a Blackjack table being "hot" or "cold", which is completely superstitious, and should be ignored. The exception was when Blackjack was being dealt from a shoe. It made card counting possible. But with the introduction of shuffle machines, and continuous shuffling like is being used in GTA, this no longer exists.
This is also why "chasing your losses" is a very bad idea. After being on a losing streak for some time, many gamblers believe that now it's their turn to start winning. So they will often increase their bet size, believing that when their predicted winning streak comes around, they will win back their losses, and more.
The reality of it, more often than not, is that people will indeed start playing higher and higher limits, until they are completely broke. Nobody is ever "due for a win". There is never a guarantee that you're about to start winning. In fact, the opposite is more likely to be true. You are, after all, in a casino.
Betting systems
Some people like to think that they have a fool-proof betting system, like the Martingale system. Simply increase or even double your bet when you lose, and keep doing that until you win. In theory, this system will always win. So that's why table limits were introduced, and where the system fails.
If you start at the Roulette table, playing red/black, with a small 750 chip wager, and just double your bet every time you lose, you only have to lose 6 times in a row, before you will be betting the table limit of 48,000, just to get that 750 chip profit.
Sure, you can go on all evening without this happening, winning 750 chips each time, but this losing streak only has to happen once, and you're bust. Any betting system like this is ill-advised, because you are hugely increasing your so-called "risk of ruin", and that's what we were trying to avoid.
And even if your starting bet is only 100 chips, after only nine straight losses, and nine doubled bets, you are betting the table limit at 50,000 chips. If you lose that bet, you're 100,000 chips in the hole, with no way to recover that with your 100 chip base wager.
So don't believe anyone that says this is the perfect system to always win in the casino. Sooner or later they will understand why they were wrong, when they're asking you for a loan.
Set your limits BEFORE you start playing
One final point before we get into the games, a general tip for people that head out to play: money management.
Just like in real life, before you go to the casino, decide on a maximum amount that you are WILLING TO LOSE.
Bet small enough, so that amount can last you through the entire evening, and you will not be tempted to run to the ATM to continue playing.
Considering GTA money, some people will be comfortable losing 1% of their GTA bank balance, some people will be comfortable with gambling away 5% of their total GTA savings. It's up to you what you can handle. Decide for yourself where it will start to hurt, and don't cross that line.
But whatever number you decide on, as soon as you lost that amount, get up and walk away. Don't chase your losses, stick to your limits, and accept that this has not been your day. There is always another game tomorrow. Always agree with yourself on a simple stop-loss rule, how much you would want to lose at most, and simply stop playing when you get there.
Same goes for winning. You can decide on a number, how much profit you would like to take away from the casino. You can go on a hot streak and be up half a million in a short period of time, but if you would continue to play longer, looking for more, chances are that you're going to lose it all back.
Most people are happy with doubling their daily casino budget, for example. Others are looking for 10 bets profit in Blackjack. Whatever you choose, when you hit that number, you can stop playing and bank your profits, or you can continue playing if you're still enjoying the games, but then only just play minimum bet sizes. Then you're just playing for fun, not for money. You've already made your profit, so simply keep it in your pocket, and don't risk losing it again.
Either way, decide on what your money management strategy will be, and STICK TO IT.
Casino games in GTA Online
Now, I'm going to dive into the games that you can find at the Diamond casino, ordered from worst to best.
6) Slots
Generally the rule is this: the less strategy a game has, the worse it is for the player. And with slots, this is definitely the case.
The only influence you have, is choosing what type of machine you're going to play. Basically, there are two types of slot machines:
-high frequency, low payout slots
-low frequency, high payout slots
In the first type, there is no huge (progressive) jackpot on offer, just your average selection of prizes that don't go up to crazy amounts.
This will result in a player having many more spins resulting in a win. The amounts that you win on the bigger prizes, will be smaller, but they do come around more often. This type of slot machine has a lower variance, which means that your money should last you longer, winning many smaller prizes along the way to keep you going.
The second type of slot machine lures you in with the temptation of a huge jackpot prize. Even though the long-term expected return on these machines is the same as the previous type, the prize distribution is hugely different. The large jackpot prize weighs heavily on the scale of expected return, but the chance of it hitting is extremely small. This results in a much higher variance on this type of machine. Usually your money will go down very fast, because the smaller prizes are less rewarding than on the other type of machine.
At the Diamond, the info screen says the player return at slots is set at 98.7%. This means that, on average, for every maximum bet of 2,500 chips, you expect to lose 32.5 chips.
This might not seem like a lot, but the danger of slots is that the game is extremely fast. You can spin about once every 6 seconds, which would result in an expected LOSS of about 20,000 chips per hour of playing.
But again, in this long-term expected number, the large jackpot awards are also factored in, and as long as you don't hit those big prizes, you'll see your money go down a lot faster.
In any case, thank heavens the max bet is only set at 2,500, or else we would see more players go bankrupt at alarming rates.
Optimal strategy for slots:
There is none. Because after betting, you have no more influence over the outcome. The only choices you have, is what type of machine you want to play at, and how much money you are going to risk. And those are all personal preference. As long as you stick to your loss limits, as discussed above, there's no harm in having a go every once in a while, hoping to get a lucky hit. Just realize that you don't have a high chance of scoring a big win, so as soon as you do, get up and walk away.
5) Roulette
Roulette is also a game where you have no influence over the outcome. There is zero skill involved. You place your bet, and that's it.
In traditional French roulette, a table has only the single-zero, but of course, for American casinos that wasn't enough of a house edge, so they simply doubled their profits by adding a second zero. The house edge was increased from 1/37 to 1/19, which is huge.
This makes playing on a double-zero roulette table by definition a sucker's play.
The payouts scale evenly, which means that a bet on a single number, and a bet on half of the numbers, and everything in between, yields the same expected return. The only difference, again, being the variance that you are willing to subject yourself to.
The player return for double-zero Roulette for all bets is 94.74%.
Except for the 5-number bet, which can only be made by placing a bet on the two top rows that contain 0, 00, 1, 2 and 3. The expected return on this bet is lower: 92.1%. This is because it only pays out 6-1. Why? Well, the number 36 isn't divisible by 5, so the greedy people that came up with double-zero Roulette had to round it off someway, and as expected, it wasn't going to be in the players' favor.Just remember that that 5-number bet is the worst bet at the table, and should be avoided. All other possible bets have the same expected return.
So it really doesn't matter how you spread your bets, if you bet only one chip, or if you litter the entire table with a bucketload of chips. Each chip you put out there, has the same expected return, so there is no strategy that will improve your long-term results.
Assuming that you're betting the maximum table amount of 50,000 chips, you will be looking at an expected loss of about 2,630 chips per spin. Considering that a round takes about 45 seconds to complete, your expected LOSS at the GTA Roulette tables will be around 200,000 chips per hour of playing.
Optimal strategy for double-zero roulette:
Stay away. Stay far away.
4) Three Card Poker
With Three Card Poker, we come across the first game where there is actually some strategy involved. You get to look at your cards, and then decide if you want to fold, and surrender your ante, or double your bet.
Additionally, you can choose to place a side bet on "Pair Plus", which offers progressive payouts.
There are some websites out there that ran all the numbers with computer simulations, and even though I would like to quote the source here, these websites are understandably littered to the max with online casino ads, so that's why I have decided against doing that.
Optimal strategy for Three Card Poker:
For this game you only have to remember one strategy rule: Always bet on any high card queen-six-four or better, and fold any high card queen-six-three or lower. That's it. Just don't forget to double check if you're not folding a straight or a flush, and you'll be fine.
This strategy will result in an expected return of 96.63%.
The Pair Plus sidebet, with the payout table that is used at the Diamond casino, gives you an expected return of 97.68%, which is actually a bit better than the main ante bet.
So by playing both wagers, you're reducing your expected losses per bet, but since you're betting more, you're also increasing your expected loss per hour.
My advice would obviously be to not play this game at all, but if you do, put as much of your bet as possible on the Pair Plus, while making our Ante bet as small as you can.
To be able to compare it to the other games at the Diamond, let's stay on that 50,000 maximum wager, meaning making your ante bet 35,000, and your pair plus bet 15,000, if the table would allow it.
This results in an expected loss of about 1,525 chips per hand, and with a round taking about 45 seconds, this adds up to an expected LOSS of around 120,000 chips per hour of playing. In comparison, if you would only play the ante bet for 50,000 per hand, you expect to lose 1,685 chips per hand, which means an expected LOSS of about 135,000 chips per hour. So the more out of that 50,000 wager you can put on the "Pair Plus" sidebet, the better.
Even though it may be fun to try out this game for a bit, since there's only one simple strategy rule to follow, you'll soon find yourself robotically grinding down your bankroll until it has vaporized. You're not missing out on anything if you skip these tables, there is no real challenge.
Just like with Roulette and Slots, if you want to try it out nonetheless, you can just bet the minimum amounts and only play for fun, so it won't matter if you win or lose.
3) Blackjack
Blackjack is the most complicated game by far. Simply because the player has to make a series of decisions, which will largely decide the outcome. Luckily, there is such a thing as an optimal strategy, which will be outlined below.
However, the strategy is also dependent on the house rules. These not only affect your expected return, but in some places also your decisions.
Here are the house rules at the Diamond casino:
-The game uses 4 standard decks, and a continuous shuffle.
-Blackjack pays 3 to 2, dealer checks for early blackjack.
-No insurance offered, no surrender.
-Dealer stands on soft 17.
-Double down on any two cards.
-Player can split only once, but doubling after split is allowed.
-Seven-Card Charlie.
Under these rules, and following the "basic strategy" chart, your expected return at Blackjack is a shade under 99.6%, which is extremely good for a casino game, that's why Blackjack should be your table game of choice.
But it comes at a price: you are going to have to memorize the relatively complicated strategy chart, or at least stick it to your monitor until you have it in your head. But in case you ever stumble into a real-life casino, you won't regret having this table memorized, so I would definitely advise you to work on that.
The strategy chart might look complicated at first, but you will be able to notice certain patterns. Your decisions are mainly based on the dealer's upcard, which is basically divided into a weak card (2 to 6), and a strong card (7 to ace).
When a dealer shows a strong card, you will be hitting more often with the risk of going bust, but when a dealer shows a weak card, you're not taking that risk, and you will be standing more, but also doubling and splitting more. You want to increase your bets when the odds are in your favor, and get out cheap when they're not.
But it also helps to take some time to think about why a certain advice is given. For example, why does it say that you always have to split two eights, even against an ace. Well, that's because two eights equals 16, which is the worst total you can have. It's better to split them up, and give yourself a chance of finding a 17, 18 or 19 with the next card. Once you see the logic in that, you'll have one less thing to memorize.
The playing advice in the basic strategy chart is a result of computer simulations that ran all possible outcomes against each other, and produced the most profitable decision for each situation. So you can't go wrong following it.
Optimal strategy for Blackjack with Seven-Card Charlie
The added house rule of Seven-Card Charlie, adds a small advantage for the player, and it does influence a few strategy decisions. For example, you might have a 14 with 6 cards, against the dealer's 5 upcard.
Normally this would be an automatic stand, but if you're only one card away from the Seven-Card Charlie, meaning an instant win for the player, regardless of the dealer's hand, it turns it into a hit.
Here's the most optimal strategy chart to follow for the Diamond Casino house rules:https://prnt.sc/olct6g
You'll see that two fives are missing from the chart, and that's because you never split them. You treat them as a regular 10. You also never split tens. Just stand on 20.
If you follow this strategy religiously, even with a maximum wager of 50,000 chips, you only expect to lose about 215 chips per hand, and with rounds taking about 30 seconds, that amounts to an expected LOSS of 26,000 chips per hour, which is only half a bet. A small price to pay for an hour of entertainment.
But since the expected return is so extremely close to 100%, you will see more positive short-term results than with other games. But obviously it can also swing the other way. Again, this is supposed to be the game where your money lasts you the longest, but always set your loss and win limits before you sit down. That rule simply always applies.
Still, even with optimal strategies applied, all these games are expected to lose you money in the long run. So betting any kind of large amounts is not advised. If you simply want to enjoy playing these games, there's nothing wrong with betting a minimal amount. Playing these games for a longer period of time will already cost you money anyway, since your daily property fees will still be charged while you're playing in the GTA casino. As long as you can play for fun, there's nothing wrong, but when you see yourself betting insane chunks of your entire bank balance to try to recoup some unfortunate losses, you're doing it wrong.
As the commercials in Britain all correctly say: when the fun stops, stop.
2) Virtual Horse Racing
Now onto the good stuff. I ran some numbers, and I believe Rockstar has made a mistake with the horse racing game. Because as it stands, and if I read the numbers correctly, this game is actually profitable for the player. You can actually make money with this, at least, until Rockstar figures out their mistake and patches it.
If anyone wants to jump into the math and double check this to make sure, please do so. I will add any corrections to this post. This is one of those "to good to be true" things, so I keep thinking that I might have overlooked something. So please verify it if you can.
The setup is this. There is a pool of 100 horses, each with their own attached payout. These are divided into 3 groups, ranked by their odds. From each group, 2 horses are randomly selected to provide a pool of six runners for you to bet on.
Now it's not an actual race you're looking at. You are looking at a raffle. This is important to realize.
Each horse gets awarded a certain number of raffle tickets. The favorites get awarded more tickets than the underdogs, and therefore, have a higher chance of winning.
If this distribution works like it does in the real-life casinos, then the raffle tickets are awarded according to the betting odds.
Example 1: imagine a race with 3 runners, all have 2/1 odds, representing a 33.3% chance of winning. (Because 2/1 means 2 AGAINST 1, so 3 total.) In this case, each horse gets one third of the raffle tickets, giving them an equal chance to win.
Example 2: imagine a race with 3 runners, one has 1/1 odds (or EVENS), representing a 50% chance of winning, and the other two horses are marked up as 3/1, with a 25% chance of winning. The favorite gets half the tickets, the other two get a quarter of the tickets each.
A ticket is drawn, and you'll have a winner.
It doesn't matter in this game which horse you bet on, because the expected return is always the same: 100% or break-even, for the above examples.
Now, what happens if the percentages don't exactly add up to 100%?
They must add up to 100%, because there will always be a winner. And only one winner.
So when this is the case, the actual winning chances of the horses are adjusted to meet the 100% requirement, using their payout odds to determine the scale.
So, if the represented percentages add up to more than 100%, the actual winning chances of the runners will be DECREASED, resulting in all bets becoming losing propositions for the players.
Example: In a 6-horse race, all runners are listed at 4/1, representing a 20% chance. Only with six runners that amounts to 120%. So all chances are scaled down by 1/6th, to end up at 100%.
This means your horse's chances are reduced from 20% to 16.67%, turning it into a losing bet: 5 times you will lose your bet, and 1 time you will win, but only get 4 bets back in this instance, instead of 5. A losing bet in the long run.
This is the type of odds that you find in regular casinos, with fields as large as 15 runners to bet on, where the assumed winning chances always add up to more than 100%, therefore are decreased for all runners, resulting in a house edge.
But in GTA Online's Inside Track, there are other scenarios, because of the small field, and the way that they are put together.
In some cases, the represented percentages when added up, are LESS than 100%, meaning that the actual winning chances of all runners, are INCREASED.
This creates profitable bets for the players, because in the long run, you're expecting to win more money than you lose. This is a gambler's dream, pure and simple.
So, according to the in-game information, the three groups of horses are divided as follows:
-Favorites: EVENS to 5-1
-Outsiders: 6-1 to 15-1
-Underdogs: 16-1 to 30-1
Let's take the two most extreme examples to show what's happening.
The worst possible field to bet on: two runners at EVENS, two runners at 6-1, and two runners at 16-1.
EVENS represents a 50% chance, 6-1 is 14.29%, and 16-1 is 5.88%. Add those up and you land on a total of 140.34%.
This means that the actual winning chances of the horses are decreased by 28.75% (to get that 140% down to 100%), which makes betting on this field extremely unwise.
A horse at EVENS will only come in as a winner 35.63% of the time, instead of 50%,
a horse at 6-1 will only win 10.18% of the time,
and an underdog at 16-1 will only win 4.19% of the time.
The expected return on a bet on any of the horses in this field is only 71.26%, so a maximum bet of 10,000 chips on any of these horses holds an expected LOSS of 2,875 chips.
These returns are the same, because the winning chances are scaled equally, according to the payout numbers. So it really doesn't matter which horse you bet on, in the long run, you expect the same results.
But as explained before, it does influence variance, and therefore your short-term result, which can swing both ways.
But now, the best possible field to bet on: two runners at 5-1, two runners at 15-1, and two runners at 30-1.
Odds at 5-1 represents a winning chance of 16.67%, 15-1 odds means 6.25% chance, and 30-1 odds means a 3.23% chance of winning. Add these six horses together, and you only get 52.285%.
This means that, to get from 52% to 100%, the actual winning chances of these horses will be almost doubled! Multiplied by 1.91 to be exact.
So the 5-1 favorites will now win 31.88% of the time, instead of 16.67%,
the 15-1 runners will win 11.95% of the time,
and the underdogs at 30-1 odds will still win 6.17% of the time.
When betting on this field, the expected return on your bet is 191.25%!
This means that a max bet of 10,000 chips will result in an expected PROFIT of 9,125 chips.
This is printing money, if there ever was such a thing.
Optimal strategy for Virtual Horse racing
So all you have to do, is only bet high on the games where you have an expected positive return, and bet the absolute minimum on the games where your expected return is negative. Or back out of the racing game to refresh the field.
If you don't have a way to quickly add up all the percentages, and until somebody shows up here with a neatly formatted table, just use a few general rules of thumb:
-Always bet the maximum on a race with favorites at 2/1 and 3/1 or higher in it.
-Simply skip all races with two favorites at EVENS in it, and at EVENS and 2/1. Or bet the minimum, if you can't skip or refresh the field.
-To decide if you should play races with other favorite combinations EVENS and 3/1, EVENS and 4/1, EVENS and 5/1, or two favorites at 2/1, the payouts on the other four runners determine whether or not it's profitable to play them. The results of betting on these fields vary from an expected 1,330 chip loss (worst-case) to an expected 1,680 chip win (best-case), with a max bet of 10,000 chips.
But if you're not looking for another strategy chart, you might just want to skip these borderline cases, and just cherry pick the best ones, which are easy to recognize, and with which you can never go wrong.
It's difficult to put a number on an expected win-rate, because it all depends on which fields you get presented with, but it's not unreasonable to state that you can maintain a steady win-rate of around 200,000 chips per hour, with about 50 seconds per race.
Remember, you're not trying to win every race. You're trying to win the most money per hour. So don't sweat it when you bet on a 4/1 favorite, and lose a couple of races in a row. It will still be more profitable in the long run. You have the math on your side.
To reduce negative variance, always bet on the favorite, when betting on profitable fields. We're not gambling anymore, we're grinding out a steady profit. We want to keep the swings to a minimum.
I contacted Rockstar support to verify if this is indeed how it works, but the only reply I got after 6 weeks is that they were "looking into it".
User u/Garsant made a useful Excel-worksheet, available for you to download, where you can quickly type in the payouts on the horses, to see if it produces a profitable bet or not. You can find it in his post here: https://www.reddit.com/gtaonline/comments/ekp8na/gta_online_inside_track_odd_calculato
1) Wheel of Fortune
The number one profitable casino game in GTA Online is obviously the Wheel of Fortune, because it costs you nothing to play.
Unfortunately, you only get one free spin per day, but it holds great value, so make sure you do it.
With a chance to win a super car, vehicle discounts, expensive mystery prizes (which also can be vehicles), and a lot of cash and chips, the expected return on a single spin is around $100,000 in value.
So don't forget your daily spin, it's definitely worth your time.
2020 Update:
As of the Diamond Casino Heist update, the Inside Track horse racing is confirmed to still be as profitable as outlined above.The only thing that seems to be changed, is that you can't refresh the field anymore by backing out of the screen. This does affect your hourly rate in a negative way, but does not change the fact that this game has a huge positive expected return, and should be your go-to when you're trying to take money from the house, without having Lester's nagging voice in your ear. That should also be worth something.
And with that, I conclude my 5,000 word essay on gambling in GTA. Questions, comments, feel free to add your input to this guide.
Cliffs:
-Gambling games should only be played for fun, not for big money. You should expect to lose in the long run. The house always wins.
-A casino game doesn't have a memory, and betting systems don't work.
-Set your limits before you start, how much you are willing to lose or win, and then walk away when you get there.
-Don't play slots, roulette, or three card poker.
-Only play blackjack following a basic strategy chart (https://prnt.sc/olct6g).
-Inside Track betting can be played profitably, if you only bet on fields WITHOUT a heavy favorite.
-Wheel of Fortune is always your best bet, because it's a free bet.

Inside Boston Underground Poker Part 5: Bubbles Goes Busto

Previous Post: https://www.reddit.com/pokecomments/bg7xox/inside_boston_underground_poker_part_4_bubbles_in/
So there I was, walking to the Wynn craps table with about $38k in cash in my pocket. I was up $30k for the day in poker, but as always, I had to push my luck.
There's a table off to the side with only one player at it, while the rest of the tables are pretty packed. I prefer a relatively empty table, so I head over there. The guy at the table has weirdly colored chips in front of him, and I realize he's some mega-whale with over a million in chips in his rail. I walk up to the table and he stays sitting, staring into his rail of chips. The table is $100 minimum which is why no one else was there, and I buy in for $10k.
The guy is just starting a new roll, so I put $600 each 6 and 8 and $250 on the 5 and 9, and he instantly 7s out. I'm down $1700 already in about 3 minutes, shit.
I throw $100 on the line, throw a 6 on the come out and put $600 on the 8, $250 each 5 and 9 again. The other guy started the roll with $12k each 6 and 8, $10k each 5 and 9 and $5k each 4 and 10, plus $1000 each on the hardways. I end up going on an insane roll. I'm throwing hard 6s and 8s like crazy, the guy has pressed up to $5k each on the hard ways and $30k each 6 and 8, and I just keep rolling them. I'm pressing my bets as well, and I'm up like $20k plus I have my bets up to $1000 each 5 and 9 and $3000 each 6 and 8, and I'm still going. At one point I bounce one of the dice off the table, and the other guy turns his bets off, and I roll back to back hard 6s, so he missed out on $160,000 from those rolls, it was pretty sick.
I think in total I made something like $35k off of my roll, and the other guy made over a million. The sickest part was that he barely even looked up from his chips, and he never said a word to me or tipped the dealers at all. He went to the bathroom at one point and I made a comment to the dealers, and they said he was still down overall on the day... What a sicko.
I played for a bit longer and ended up with $90k in my pocket, a profit of over $52k in a couple of hours of craps. I went into the Wynn with $8k in the morning and was leaving with $90k about 12 hours later. It was absolutely insane. I walked outside to wait for my car at the valet, and I had stuffed all 9 of the $10k "straps" into the pockets of my jeans. My jeans were busting with all of the cash, and these old people who were waiting at the valet noticed it and were staring so hard, it was hilarious.
Between my cash, bank accounts and investments, I had about $350k to my name at that moment, less than 3 years after moving to Boston with a roll of around $1500. As you can imagine, I felt absolutely on top of the world. All kinds of thoughts ran through my head. Should I go buy a Porsche in cash? Should I listen to my mom and go to school in Santa Barbara, and use my money on a down payment on a house there?
What was certain was the first thing I should have done was taken a bunch of that cash to the bank and gotten it out of my degenerate hands. Instead I drove to the Bellagio, got a room, got some room service, and went to bed. I woke up in the morning and had lost the $90k at the craps table before lunch.
Now you might be thinking that this was the start of my spiral down, that I went and cashed out my investments, got it all in cash, and blew it all at the Bellagio craps tables, but that would have been too simple. Instead I went back to grinding $10/20nl like nothing had happened. I had lost 2 buyins, oh well.
I took a few more shots at juicy $25/50nl games that summer, and like the lucky asshole I was, I never had a losing session in the 5 I played of that game. The other 4 were all at Bellagio, and usually only ran because a couple of specific businessmen wanted to play. They were bad, the games were great, I was still on top of the world in terms of poker.
One session in particular stood out. I sat down with $10k and was on a roll again, running it up to over $20k within a couple of hours. I had maybe $24k in front of me and was the big stack at the table, it was early and there hadn't been too many rebuys yet, and in walks Viffer (David Peat). Viffer was apparently down a few buyins in Bobby's Room and only had enough for our game, so he sat in with $50k. Being the biggest stack at the table besides him, as well as a 21 year old dressed like a complete douche, Viffer instantly focused on me. He was sitting all the way across the table from me (I was in seat 3, he was in seat 8), but as he sat down he called across the table to me, "hey kid, ever lost a $50,000 pot before?". "Not yet, but I look forward to it!", I retorted. Not my greatest comeback ever, but oh well.
I continue working up a stack without playing any big pots with him, and I'm at close to $30k and Viffer is still around $50k when a big pot happens. Since it was a $25/50nl game with $100 dead on the button, a typical raise was $300-350. In this hand, UTG raised to $350, Viffer called from the CO or HJ, the button called, the SB called, and I woke up with KK in the BB. There's over $1500 in the pot already, so I make it $1500 total and everyone calls. There's over $7500 in the pot preflop. The flop comes KTx rainbow, and I'm trying to figure out how long I should wait before checking, and if I should ham it up, when instead the SB open jams for around $8000. I have nearly $20k behind, and I wasn't sure what to do. UTG had about $12k, Viffer had me covered, and the button had under $10k, so raising vs flatting only really mattered significantly vs Viffer. I decided he didn't have much that could have hit this flop strongly, I wasn't getting paid unless he had KT or obviously TT or bottom set, and I didn't want to let him have pot odds with QJ, so I just jammed. UTG snap folded and Viffer stared me down for a minute before folding, and the button folded as well. We didn't flip our cards up, and the turn came an A and Viffer cursed to himself. He admitted later to having AT. River came a blank and the SB flipped up QJo to ship the pot with his straight. Bye bye $24k pot.
I shake it off, I still have around $20k in front of me, and I run it up a bit once again, sitting with around $25k when I get into a big pot once again. This time I raise to $300 with J9s from the CO and one of the donkey businessmen that the games run because of reraised from the blinds up to $900. I called the $600 more, he had around $13k in his stack to start. The flop comes QJ9 and I'm loving life again. He could have QQ, but JJ is unlikely since I have one, and I had only seen him 3 bet once in around 4 hours. Great chance he had an overpair. He instantly bet out $1500 into the $2000 or so pot, and I reraised to $4000, he went all in pretty quickly, and after a little bit of thought I made the call and he proudly flipped up KK. He had a decent number of outs with his gutshot, another K or a Q giving him the pot, but instead the board ran out 5, 5 to give him higher 2 pair in a different way. Bye bye $26k pot.
Those were 2 of the biggest pots I had ever played where it actually went to showdown and I hadn't gone all in with 100% to win. I had around 62% equity with the J9 and 74% with the KK, so it was a less than 10% chance for me to lose both. I ended up leaving the table up $7k, which was awesome after having lost my only 2 all ins for the night, but I was feeling negative, and of course went to the craps table. I lost my $7k profit and went home even for the day.
Another of the biggest pots I ever played was actually at $10/20nl at the Wynn vs another pro who liked to try to make huge bluffs sometimes and had a habit of overthinking stuff in my opinion. I was sitting with over $15k from $8k in buyins, and was having a pretty great session overall, and the other pro had around $10k. I don't remember the action nearly as well in this hand as the others, but I had KTss in a 3bet multiway pot to the flop, and it came KT7 with 2 hearts. Someone bet, the other pro raised, I 3bet, the original better flatted, the other pro 4bet for like 40% of his stack, I shoved, the original raiser folded after tanking, and the pro went into the tank hard. Now this was a guy whose game I respected. He was facing a bet of another $5500 to win a pot of about $23000. When he went into the tank, I figured he had a non-nut flush draw and was trying to figure out if I had some pair and higher flush draw combos or nut flush draws in my range where he'd be way behind. He tanked for nearly 5 minutes and eventually called, the board ran out A, 5 and he said "you've probably got me". I turned over my KT and he goes "oh holy shit I figured you had a set!" and turn over A5hh. I'm not sure why he tanked so long getting over 3:1 with a nut flush draw, even if he put me on only sets, he still had the odds to call, and I'm playing QJhh and 98hh the same way, hands he is ahead of. I didn't mind losing 2 pair vs flush draw as much as I minded that he had me convinced I was good with his tank, and then even more when he said "you've probably got me". I had to leave the game because I was close to tilt after that one.
The WSOP ended and the games dried up a bit. There were still $10/20nl games going at Bellagio usually, but with more grinders and fewer donks per table. Throughout the post- WSOP summer, many of my friends came out to party, and I spent a lot of time with Ashley, growing closer with her. At the end of the summer I decided not to stay in Vegas full time, moving to Berkeley, California, near my hometown and where several of my friends went to university. I played some of the juicy $5/10nl and $10/20nl games in the Bay Area with a medium amount of success, and partied a bunch with friends in frats at Cal. I made lots of trips out to Vegas, usually just for degenerate gambling and not a ton of poker. I had taken some losses in the market, but was still sitting with around $300k between cash, accounts and investments. When Bank of America dipped in November, I bought some for under $12. I still had Jetblue stock which wasn't doing great, and a handful of other stocks which were all struggling in the bear market, but I was convinced it would turn around.
My host at the Bellagio was always inviting me to special events, and 2 stood out. A $1 million freeroll heads up blackjack tournament was the first. It was 128 players, so nearly $10k in value. If you won your first 3 rounds, you were in the money and guaranteed $50k. After dominating my first 2 opponents who knew very little about blackjack tournament strategy, I was feeling confident. Blackjack tournament strategy is very different than normal blackjack strategy since your objective is to beat your opponent, not the dealer, and there are weird rules like blackjack paying 2 to 1. There are a set number of hands you play, and whomever has the most money after those hands wins. My first opponent went broke, so I automatically won that. My 2nd opponent just bet small every time, and didn't compensate when I took a lead, so on the final hand he didn't even give himself a chance to win with his bet.
My third opponent was semi competent, he at least knew basic blackjack strategy, but his betting was wrong and he still played as if he was trying to win chips from the dealer, not merely outplay me. I managed to make it so that on the 25th and final hand of our game, if both me and my opponent won the hand, I won, if both me and my opponent lost the hand, I won. Outside of making it impossible for them to win at all, which is very hard with correct strategy, this is about all you can ask of in a blackjack tournament. Me and my opponent both received face cards first, a great sign for me. For my 2nd card I received another face card, great news, until my opponent was dealt an A and got paid 2 to 1. My only chance was to split my face cards and try my luck to still end up on top, but it didn't work out and my opponent was the winner.
A few months later I was invited to a free $1 million poker tournament. This was it, my ultimate chance. It was 100 invited players only and based on pit and slot play, not anything to do with poker. It was going to be me vs a bunch of degens without any poker skill! The time for the big tournament came, and there was a twist. There were actually 110 players, 10 of whom were MGM executives and had cash bounties on their heads between $1000-$10k depending on their level at the company. They couldn't cash the tournament, they were just there to have fun and add a wrinkle to the game.
I easily navigated the field to start, although someone else at my table got the $2k bounty for knocking out our MGM employee. As the tournament progressed, it became clear the structure wasn't great, especially with so many inexperienced players taking a long time to make decisions. We were down to about 14 players including 2 executives left. Once only 10 real players were left, all of the executives remaining would be removed and their bounties would be put into the regular prize pool. Top 10 got paid, so there were essentially 12 left plus 2 fake players. I don't remember the action too well for this hand either, but I believe I was about 30 bbs deep to start the hand and raised with AJ from the button and got called by both blinds. The big blind was a $5000 bounty and she only had about 5bbs left after the call. The flop came KJ4 and they both checked, and I bet the 5bbs that the bounty had left. They both called. Turn came a T and after the other guy checked, and I thought I had him beat, so I went all in for the remaining 20 or so bbs. The SB tanked and was talking about how he really wanted the bounty. He ended up calling, he had about 1bb behind, and we all showed our hands. The SB had T9 with no flush draw, and the bounty had QJ, so I was 81% to scoop the hand, and only 11% to bust. River T and I'm done. The worst part was that the guy who stacked me with T9, having called with just a gutshot on the flop, managed to lose all of his chips on the bubble and go out in 11th place. He got his $5k cash bounty though...
The stock market continued to crash, and I went harder and harder in on the stocks I thought would bounce back, still investing on margin. Eventually I lost it all in February/March of 2009 when Bank of America stock dropped to $3. I had bought in more at $7, then even more at $5, and when the margin call came in I lost nearly $200k just on that one stock. My average buy price was a mere $6 since I had bought in huge at $5. If I had been able to pay the margin call and hang on, by August of 2009 my 50k+ shares would have netted me a profit of over half a million dollars. Instead I was completely broke. My losses in the market for 2008 and 2009 were nearly $400,000, and I later found out my casino pit game losses were nearly $200,000. If I had been patient, diversified, not on margin, and kept out of the pit, I would have been a 22 year old millionaire. Instead I was busto.
I continued on in poker for several years after that, but unfortunately my persona of trying to seem like a rich kid wasting daddy's money had left me without many poker friends, and without many people who respected my game enough to stake me. I ended up turning to online SNGs and being moderate successful, but still lazy and not putting in the hours I should have. Ashley and I tried to make it work, but she wanted me to move out to Vegas for good, and I was afraid being in Vegas would end in disaster for me as I'd continue to waste a huge amount of money on gambling, money I no longer had. My high school sweetheart came back into my life at that point as well, and I pushed Ashley aside for nostalgia, ignoring the reasons the high school gf and I had broken up several times in the past. In the end, I wanted to be more serious than she did, and I haven't spoken to the high school ex in 10 years. Ashley moved on quickly as she always did, and already had a serious boyfriend by the time I came around and realized I wanted to be with her. She ended up becoming a stripper in Vegas, and the last time I saw her she was a bit of a mess. She moved out of Las Vegas these days and I think she's doing better, but we don't keep in close touch.
By Black Friday I had joined a good staking group and was successful at online SNGs, making a nice hourly, coaching other players, and generally doing well at poker, although in my personal life I was a mess after losing both girls I loved in close succession. After Black Friday I made several stupid mistakes, alienating my backers and many in the poker community. I paid everyone back in the end, but I knew I needed to get out of poker. I went back to college, met my wife and we've been together for nearly 7 years now. I now work as a financial adviser.
Thanks for reading, I hope you enjoyed my crazy life journey! Some other crazy stuff happened along the way that I might throw together at some point, but those are more Vegas party stories than much to do with poker.

Poker room staff question...

Dan Smith wins the Bellagio $100k Summer High Roller

87 players buy in for the Bellagio Summer High Roller Series

Winner Take All

First time to Vegas

RIP Jon Jerde ('65), Architect who re-shaped malls, designed many famous structures

[Table] I am a high limit table games (baccarat, blackjack, craps, roulette) dealer in Las Vegas Part 2. AMA!

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Date: 2013-01-23
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Questions	Answers
Have you ever caught anyone cheating? Ever see someone cheating and not report it?	I have caught people cheating before yes. The most common are card counters and people stealing chips from other players. I highly recommend to not get completely trashed while gambling especially if you're a male and gambling by yourself as there are certain females who'd be more than happy to steal your chips while you're not paying attention.
	The only time I won't report cheating is when they're tipping. If they're a douchebag or stiff, I'll let my Pit Boss know immediately.
	Here's an interesting article on cheating in Vegas by the way.
How can you call card counting cheating?	Vegas has very liberal rules to their blackjack games compared to other cities that have casinos. Vegas offers double deck, stand on all 17s, moving down shuffle points, etc.
	I don't consider card counting cheating, but the casinos do. They are a private business. They can kick anyone off of the property for any reason unless it's illegal discrimination. The casinos don't want players to have an advantage over them.
	To be honest Vegas casinos don't care about card counting unless you're playing on a double deck. You want to play a six or eight deck shoe? It's all yours. But they want no advantage players on a double deck.
You won't report cheating if you are getting tipped, but you will report it if you don't?	I'm talking about card counting. Most card counters are douchebags because they already think they're smartemore arrogant than everyone else though so it's very rare that I'll keep my mouth shut.
We don't consider card counters cheating. We just refuse service to those who can count.	I think you're mixing up "card counting" with actually counting cards.
Who sets the specific rules of the game for say Blackjack, such as how many decks, what the little pre bet rules are, etc? Is there like a standard across Vegas? When would they ever be using a double deck?	It depends on the casino and what type of clientele they cater to.
	Certain higher end casinos will have better rules for the player while the lower end casinos will have terrible house rules.
I am not a professional card counter just good at math, what are the specific rules that you keep the deck even?	Link to en.wikipedia.org.
	The most basic system is the Hi-Lo card counting system.
	10, J, Q, K, & A = -1.
	2, 3, 4, 5, 6 = +1.
	7, 8, 9 = 0.
	With enough practice, you'll be able to figure out the count in real time.
My casino doesn't consider card counting cheating 1) because it's next to impossible to prove & 2) because with a 6 deck shoe it gives negligible advantage. i'm relatively sure that very few casinos if any consider card counting cheating.	Casinos (should) only care if you're card counting on double deck.
It seems like being able to call the odds is just part of the game and what it means to be skilled at it. I don't see how that can be called cheating.	Card counting is a dying art now anyways. With the technology casinos have their disposal, card counters can't get away with it anymore.
Can a card counter win while playing single deck?	You could, but it would be more luck than skill. Most casinos only allow 6 hands to be dealt on a single deck. Not a lot of hands to make a move imo.
I work in a casino in Melbourne Australia. . 6 deck automatic shuffler where the cards are fed back in whenever there is roughly a deck out. . and people have still tried. . its quite funny.	Seems legit.
	It's such a waste of time to try and count cards. I never gamble, but this is what I do...go with friends, get completely smashed, expect to lose the money, and have a good time.
What was the biggest tip you have ever gotten from someone?	The biggest tip I received was $250,000 from a customer. He won $10 million playing baccarat.
What is the usual tips you get from the players?	The usual tips? Most of the time I've dealt on a $100-$500 blackjack game. I'll usually make a couple hundred from each player give or take. I'll usually make 1-5 units of whatever they're playing with whether it'd be $5 chips, $25 chips, $100 chips or $500.
Do you get to keep all that?	I wish. We pool our tips every 24 hours and everyone gets a share of it. I ended up making $1000 that night. We never make money like that so don't think this is a normal occurrence for us.
	I did meet up with the customer at the strip club when I got off of work. One of the most amazing nights I've ever had.
Should have told him to keep it and tip you later that night at the club. Rookie mistake.	My regular customers do when I go to dinner or go out with them.
Are you allowed to keep all of that tip, or do they take a cut/something else?	We pool all of our tips every 24 hours so I did split it with everyone else.
How was your reaction at the table when recieving a $250,000 tip?	It threw me off. I thought he wanted change at first, but then again it was 10 $25,000 chips.
Let me get the details.	Customer paid for everything. Ended up spending about $50,000 that night mainly on alcohol. Never drank so much champagne in my life.
Could you theoretically tell the big winner to tip you when you're off the clock and keep the $250k for yourself?	I wouldn't because I would lose my job as it would be considered "hard hustling".
You had to share that with over 250 people?	The big casinos on the Strip have a lot of dealers in a 24 hour shift.
	At Cosmo, on the weekdays there are about 150 dealers in a 24 hour shift. On the weekends, it can be close to 250-300 dealers and Cosmo is a small casino compared to the rest.
Does this violate any policy the casino might have about interacting with customers?	Technically no. The only thing the casino reminds you is to not be seen gambling with the customer at other casinos and that you're still responsible for your own actions.
You must have been real popular that night.	Bitches love money especially strippers.
Yeah I notice whenever I tip a dealer he/she puts in a slot, so I was thinking how would they know how much each dealer got,	Regardless, it's still the right thing to do if they're providing you a service. Thanks for tipping :)
I'm curious. Since on a night where you received an exorbitant tip and only made $1,000, what is your average tip out per day/week/weekend? Also, what is the largest amount that you yourself have walked out with in a single night? Are you tipped out daily, or is it added to your paycheck? If it is done by paycheck; largest tip out at the end of a paycheck?	At the big casinos (Wynn/Encore, Cosmopolitan, Aria, Caesars) the dealers usually make $150-$200 a night during the weekdays. On the weekends, they'll make around $200-$300+.
	The medium casinos (Bellagio, Planet Hollywood, Paris, Mandalay Bay, MGM Grand) will make around $120-$150 during the weekdays, $150-$200 on the weekends.
	I personally can't accept tips while at work. Outside of work, regular customers would throw me some extra cash on the side on top of whatever they gave me at the table while they were playing. The most someone gave me outside of work was $1000. It was a regular customer.
Of all the celebrity players you've dealt to, which one seemed the most genuine and cool person to interact with.	Coolest would easily be Matt Schaub. 99% of athletes are douchebags, but he's super nice and super cool. Awesome tipper too. Down to earth and extremely humble. Runners up goes to Chris Evans. Captain America can't handle his alcohol and is an arrogant prick too. "Do you know who the fuck I am?" was probably his most overheard line while I was dealing to him. 2nd runners up goes to Chef Tim Love. He's a stiff and a cry baby. Constantly boasts about all the $10,000 bottles of wine he drinks.
Who was the worst and why?	Ironically the worst would be Will Farrell. The guy is a huge asshole when he's gambling and the camera's off. Huge prick.
As a huge Redskins fan, I notice DeAngelo Hall has some attitude issues on the field. Was he any nicer when you dealt to him?	Really nice guy. From my experience, he plays by himself and doesn't have a huge entourage like most athletes do. Even when he loses, he doesn't have an attitude problem.
That's pretty disappointing. Will Farrell is one of my favorite actors and I always assumed he'd be a cool, down to earth guy off-camera. Oh well, it's not like I'll ever see him in real life anyway. But if I do, I'll know to punch him in the balls.	You know who is also a cool guy that surprised me? Rush Limbaugh.
	The guy is an awesome tipper and kind of cool to talk to even though he's an extreme right-winger.
If a celebrity ever said "Do you know who the fuck I am?", I would instantly say something along the lines "Why should I give a fuck who you are?"	I pretty much said that to Chris Evans every time he said that.
Maybe in public but go have dinner with his family in Springfield, MO-- Racial slurs everywhere!	Any stories you'd like to tell me?
What was your impression of D Rose?	Derrick Rose is a cool guy. Played a little bit of blackjack and roulette with Durant.
	Hope is ACL is good to go now :(
Doesn't Tebow know gambling is a sin???	I wasn't going to ask him that especially with the Broncos offensive line surrounding him.
How many times have you heard someone say 'Vegas baby!' or 'you're so money' when Vince Vaughn was at the tables?	Never.
	You know what I hear the most and is like nails on a chalkboard for casino employees?
	"WINNER WINNER CHICKEN DINNER!"
I am going to go to every single casino and scream winner winner chicken dinner. When I finally get punched in the face I'll know it's you. Then we can go party with some celebs at the strip club. Deal?	Seems legit.
Do you get the asians who yell monkey who want a 10 in blackjack? It seems like 90% of asians in the casino I frequent do this.	Gamblers scream out monkey regardless of their race. White, black, asian, spanish, etc.
Whats the most money you've seen lost by one person in a day?	Craps - $5 million.
	Blackjack - $5 million.
	Baccarat - $10 million.
	European Roulette - $2 million.
Just out of my own curiousity, was it an asian person that lost $10 million on baccarat?	You are correct. A Chinese businessman to be exact.
Holy shit that's crazy! How often do you see someone lose money in the millions?	I deal to million dollar players quite often. But getting their ass handed to them? Not that often. I want to say like every 3-4 weeks.
	Players win often and players do lose often, but it's rare to see them tap their line.
What's the usual reaction when someone loses money > million?	I've seen customers smash glasses, break things, punch the wall, punch the roulette readerboard, etc. They usually keep their cool most of the time, but once in a while...
	"OMG WTF ARE YOU KIDDING? ARE YOU FUCKING KIDDING DUDEITSPANDA! THIS IS SOME FUCKING BULLSHIT. I CAN'T BELIEVE THIS JUST HAPPENED TO ME. YOU ARE THE WORST DEALER EVER. YOU GIVE ME THE WORST FUCKING HANDS ON BLACKJACK. WHY DO I EVEN PLAY THIS STUPID FUCKING GAME!!!"
WHY DO I EVEN PLAY THIS STUPID FUCKING GAME!!!	Most players like to play Captain Obvious or Captain Hindsight.
Maybe the only important thought the person should be considering. Hah.	"DAMN IT I SHOULDN'T HAVE BET THAT MUCH. DAMN IT I SHOULD HAVE BET MORE!"
Heh, I've seen that happen at the $5 tables in Indian casinos in Michigan while waiting for a seat in the poker room.	I usually just giggle whenever a $5-$10 players loses $100-$200 bucks.
	"Is it really the end of the world losing $200?" is typically what I tell them.
How are high-limit dealers paid? Salaried? Benefits? Would you be willing to say how much (ballpark) high-stakes dealers make in a year? what about low-stakes? Are dealers allowed to gamble in the casino they work for? Thanks, this is a sweet AmA.	Dealers are paid the same regardless of what games they play and it's minimum wage. Yes you heard it...casinos only pay us minimum wage. We rely completely on tips.
	Casinos are normally run businesses so full time employees are offered insurance, 401k, vacation time, etc.
	Dealers are NOT allowed to gamble in the casino they work for. It's mainly to prevent collusion. Dealers are allowed to play slots in the casino they work for, but cannot play anything with a progressive jackpot (Megabucks, Wheel of Fortune, etc.). Dealers are allowed to play whatever they want in any other casino.
I think it's pretty awesome that dealers get a 401k and insurance. That plus the decent money you mentioned below make dealing sound like a pretty awesome job.	It isn't that bad of a job, but dealing to douchebags and degenerates wears on you after a while.
What are the best casinos and hotels in Las Vegas? As in the top 5 casino/hotels? What is your favorite and why?	Wynn Las Vegas/Encore
Oh and why are there hundreds of Mexican people handing out those cards for prostitutes on the street and allowed to just litter the whole strip with them?	The loiters have first amendment rights basically. They changed the law this year so now whenever cards they pass out fall to the ground, they're supposed to pick them up. I was never too happy with the escort ads on the Strip. 1. The girls don't actually provide the service most of the time. They're just there to rip off guys. 2. It puts a negative light on the city.
Thanks for the answer. I was in vegas for about 3 days staying at circus circus (don't laugh) and the first night we walked the whole strip (i had no idea it would take that long) and it really annoyed me to see the streets just littered with the prostitute cards.	We Vegas locals don't like it either trust me. We also don't like those stupid street performers that are on the Strip. The only one that's cool in my book is the guy that will let you kick him in the nuts for $20.
How much do you think the avg "street performer" say for example, the dudes wearing Mario and Luigi costumes r the Tranformer guys would make in a night?	No clue. Maybe get one of them to do an AMA?
This might be a longshot, but one time I was there, there was this older black guy in a motorized chair that had this little speakemic/beatbox thing and would freestyle about you and your group (for a tip) and he was phenominal. It was a hightlight of the trip. I've been back a couple of times and always look for him but never find him. Do you know if he's still around/popular?	Nope. Never seen the guy.
What's your flexibility on game pacing, in Blackjack for example?	There is plenty of flexibility on game pace. Casinos instruct dealers to deal at a moderate pace. Not too fast where you seem like a robot and not slow enough where players will fall asleep at the table.
Tl;dr: does the house allow you to deal fewer hands-per-hour in high-limit? If so, why are some dealers doucheclowns about it?	The best scenario for you if you want to play slightly high limit blackjack are blackjack pits that are outside of high limit. It's basically high limit without the title. They're usually $100 6-deck shoe games that stand on all 17s.
Baccarat, on the other hand... shit, I need a book to pass the time. Whoever installs video poker machines into Baccarat tables is going to make a killing.	Dealers are going to be douchebags no matter what. From my personal experience, if I deal fast...I'm trying to get rid of you.
Though my restaurant right now doesn't have it, we do have tip outs to runner ,bussers and bar. Do any casinos impliment this policy? Do you see yourself making a career out of this?	Casinos have tried to implied a tip out policy as a way to subsidize other wages with dealers tips, but it has failed. Wynn Las Vegas/Encore is in court with the dealers right now over it. Wynn won initially, but it got overturned and looks to stay that way. I don't see myself making a career out of it. Casinos are now run by corporations. The way they treat their employees is ridiculous. They show no dedication to us.
In your opinion - what's the best strategy for Craps?	Pass line with full odds. Come bets with full odds as well.
Pass line bets and taking odds on it after the come out? Boxcars, Snake Eyes, Big 6's, Horn High Yo's?	You can place bet, but the edge is still high for the house.
I'm curious too hear what a dealer thinks about this.	Stay away from the prop box at all times. The only time I'll mess around with the prop box is if I throw let's say $1 hardways and ask to parlay at least once if it hits.
Do you know of other dealers who have ever completely lost their cool at a high risk table when either a large amount of money has come into play, or some big time celebrity has come to their table?	Happens all the time. I've seen dealers sweat profusely like they just finished doing cardio on the treadmill, seen dealers completely freeze up or seen dealers crack under the pressure.
	I've seen a couple get in trouble because they tried to take a picture with them after they go on break. That's a huge no-no.
Are the high limit tables the most desirable tables to work? Are dealers sometimes reprimanded by removing them from a high limit table and placing them at a low limit table? (similar to getting a shitty section in a restaurant/bar)	Physically yes. You'll most likely be on a reserved game. The customer doesn't play the majority of the time while you're on shift. So instead of dealing for 8 hours straight, in high limit you might deal one or two hours. The rest of the time you're just hanging out and watching whatever they have on the TV.
Are you a gambler yourself? If so, has working as a dealer improved your game any?	Dealers do get reprimanded and sometimes even get kicked out of high limit for a extended period of time. It has never happened to me, but one day you'll see a dealer dealing to a BIG player. They make a huge mistake and the next day they're on casino war or the Big 6 wheel.
They make a huge mistake.	In the business we call it a jackpot. Jackpot is basically a small mistake that turns into a big mistake.
Like what?	Dealer make mistakes all the time. Wrong payout, messed on the procedure, etc.
What route would you recommend for anyone wanting to get into working as a dealer? Can you give us a brief outline of your rise to the high stakes table?	Go to a dealers school. Learn the basics of dealing, handling chips and game protection. I learned blackjack and craps. It takes about four-eight weeks depending on how fast of a learner you are and how often you show up to school to practice. It took me about five weeks.
	Once you're sufficient enough, you can apply to audition at a low end casino also known as a "break in house." Historically, casinos Downtown such as the El Cortez are well known break in houses for new dealers. Shitty local casinos are also considered break in houses as well. You don't make any money, but it doesn't matter. The whole point is to get experience dealing on a real live game.
	While you're dealing at the break in house, you can learn how to deal all the other games. That's how I learned baccarat and roulette. Once you get enough experience, you start trying to move to better casinos until eventually you get a good, full time job on the Strip.
How long did it take you to move up from a "break in house" to the limelight on the Strip? What's the average?	For most dealers it takes forever. They don't have the skill set or have the connections...aka "juice" as we call it in the business.
	It only took me about two-three years, but for most it can take from five-ten years.
I love playing blackjack at the El Cortez! $5, single deck, 3:2 games.	El Cortez is fun. I love hanging out at the bars next to it.
"You don't make any money"... can you give us a ballpark on what you made at the break-in and how much you make now, including tips?	Break-in dealers barely make $30,000 a year.
Wow, that's a long time to work your way up to a (relatively) low paying job. You said in an earlier reply that high end dealers only make $200-$300 on a weekend night, right? I made close to that in my first bartending gig when I was still in college.	You're probably right. But like I told you, the best dealer jobs pay around $85k a year. It's about $325 a day give or take.
What would you say set you apart from the other dealers? Are you more talented (by which I mean you're just naturally smartebetter) or is it a difference in work ethic or what? If it's a work ethic thing, do you think that had you applied yourself to something else with the same level of dedication you could have succeeded, or have you just been in the right place at the right time consistently?	Glad that you enjoyed the AMA.
Also, as someone who generally does not like AMAs in the last ~2 years, yours has been both informative and interesting. Cheers.	What sets me apart from most dealers is that I have the skill to deal the games properly while being quick on my feet with calculations and knowing what the players feelings are like at the time. Sometimes dealers can talk to the players while sometimes players just want you to shut up and deal. Just got to know when the situation is right for certain things.
Ever seen a grown man cry?	Yes. It's pathetic that a guy can guy from gambling, but yes I have.
Ever hear about someone killing themselves after walking away from your table?	Yes. I tell them they're full of shit which they are 99.9% of the time. They're desperate for attention after they lose.
How funny was Will Ferrel?	Not funny. I was expecting Elf or Stepbrothers, but got Casa de Mi Padre.
Could you tell us how the upper management of the casino works? I guess start with the dealers. I know you guys have pit bosses, but then who is above them? Who reports to who? Who is in contact with the surveillance room? I don't care about the hotel management.	Dealers report to Floor Supervisors. Floor supervisors report to Pit Boss. Pit Boss reports to Shift Manager. Shift Manager reports to Table Games Director.
Did you ever get beat up by joey porter at applebees?	For those that don't know, here's my interaction with Joey Porter.
	I haven't got jumped by Joey Porter...yet. He liked me and other dealers on his game that night. I think he still wants to beat the shit out of my shift boss and pit boss. My shift boss still hasn't eaten at a Applebee's or even a Chili's yet since then.
Yo, man. I been looking for you!	DO YOU EVEN LIFT BRO?
How was Joe Flacco?	He was cool. Not a big player. Kept asking me where he can find a $15 blackjack game haha.
NBA fan here. Did you have any memorable interactions with either James, Wade, or Durant? How was Derrick Rose?	No real memorable interactions. I just loved busting LeBron's balls before he got his first ring.
	I remember before Derrick Rose got serious media attention, I remember telling him two years ago "I like how you're an amazing basketball player, but no one recognizes you right now". Not the case now.
	Kevin Durant is a nice guy.
Have you seen or heard of any casinos that actually rig games?	Nope. Even though most casino managers are idiots in my opinion, they wouldn't be stupid enough to rig a game. Not only would they would lose their gaming license, the casino would get a huge fine and could possibly lose their license as well.
	One thing I tell players if they're gambling...gamble only if there's a gaming commission. You don't even know how many times I've heard stories of players getting screwed over by Indian casinos or cruise ships because there are no gaming commissions overseeing them.
UK here - what's the deal with Indian casinos? clearly they're less regulated - are native Americans known for running 'shady' joints?	I'm not saying that Indian casinos are completely shady...they just do shady things once in a while when the players aren't noticing it.
I always wondered how casino workers were able to handle working in a smoking environment all day. Is there a high rate of respiratory problems with casino workers? Tips for dealing with the smoke?	I don't smoke personally. It's brutal. I try to do more cardio than weightlifting to make up for it.
	My allergies have gotten worse since I started dealing. Whenever I'm on a game, I just try to move the ashtrays in a certain position so I don't get hit with all the smoke.
Obvious question--what kind of experience do casinos require before you're given the keys to a high stakes table?	It's mainly just being able to handle the high action. Dealers tend to freeze up a lot when they see big numbers in front of them. It's also being able to control your game regardless of who is playing on it and regardless of how much they're betting.
Do they make you do a whole back ground check and a lie detector test like they show in movies? i know.. stupid question. just curious.	We get background checked when we apply for our gaming card and when we apply for a new job. We also get hair drug tested and have a credit check done as well.
	Casinos only hire employees with good credit. It shows that the employees are responsible with their money and less susceptible to collusion.
I have a strong interest in playing and dealing cards. Have since I was a kid. How much does dealing become a grind as opposed to something you don't mind doing? I haven't hit that point yet dealing in home games.	It honestly becomes a grind the second you start working. It's exciting the first couple of years because you're seeing new bets or action you haven't dealt with yet on the game, but after a while it becomes the same.
Which of the soccer players that you dealt with won the most?	Probably Rooney. I think he won like $300k. Soccer players aren't big gamblers generally. They just like to hang out at the pool, go clubbing once in a while and do a little bit of gambling.
What was Wayne Rooney like in person? He always seems like a dick to me. Also, how much do you earn?	He's a nice guy. Takes pictures with fans and socializes with everyone.
	Dealers at the most popular casinos (Aria, Wynn/Encore, Cosmopolitan, Caesars) can make $80,000+ a year.
	Dealers that work at the medium properties (MGM Grand, Mandalay Bay, Bellagio, Paris, Planet Hollywood) make around $60,000-$80,000 a year.
What is the most you have seen a person win?	$10 million on baccarat. The customer was playing $175,000 a hand on baccarat.
Baccarat didn't seem to big when I was in Vegas a few years ago, has it picked up?	Baccarat has picked up a lot in Vegas. All the big casinos have baccarat now.
I was a dealer in Australia, high stakes as well and the average for some customers was $2000+. Not bragging or anything, just wondering if Vegas is working on getting the Asian baccarat junkets a bit harder these says.	The problem with baccarat junkets is that the players just rotate between casino to casino. They take advantage of baccarat tournaments and whatever promos they have. The junkets technically don't bring in any new business and they get paid a huge chunk of whatever the player's theoretical is.

Last updated: 2013-01-27 19:42 UTC
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[Table] I AMA Card Dealer on the Las Vegas Strip. Let's talk Vegas.

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Date: 2012-03-23
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Questions	Answers
Have you ever spotted a black jack "crew"? Or seen a "crew" taken out by the casino?	I've seen people TRYING to be a "crew." Most people who think they can count cards, can't. Right after that movie 21 came out the casinos were flush with confused college kids whispering to each other, "What's the count again?"
What's it cost to get a hooker to do anal?	Honestly, I have no idea. You can e-mail the prostitutes in Pahrump before going in and they would tell you if they offer the service and how much it would cost.
	Also, great username.
Do you have blackjack basic strategy down by heart? if so, and I just want to play that way, will you tell me what to do? are you allowed to tell me what to do if I just ask? Related question: do you keep a count of the cards yourself? if so are you good at predicting when a counter is going to make their big bets?	Yes, I have basic strategy memorized and some dealers are allowed to assist players, it depends on the casino. I only keep count if I'm bored or I suspect someone else on the table is counting.
My brother-in-law, Bob, was in Las Vegas last week. What did you think of him?	Bob was a delight for everyone and a generous tipper. We'd love to have him back again.
If I were to make a trip to Vegas, how would enabling the Wild Wasteland perk affect my travels? I've heard some people say it's what the experience should be in the first place and others say it's just stupid.	Enabling Wild Waseland turns the Wild Wild West Casino into a casino based on the Wild Wild West movie adaptation starring Will Smith; I don't recommend it. Plus the walls get all clippy.
What is the deal with counting cards? Is it easy to spot? If so, do you get a lot of amateur card counters trying to do this or cheat in other ways, and what is the normal course of action? Thanks!	Very few people actually try to cheat here. Spotting card counters is all in the way that they bet. It's a certain formula with very few methods of deviation so if they don't follow it strictly it doesn't work so nobody is worried about the amateurs. If a dealer suspects someone of card counting, they report it to their pit boss who then watches the game. If the person IS thought to be card counting they are simply denied service at the casino.
What happens if you drop a chip on the ground while dealing blackjack or roulette or some other game? Would you bend down to pick it up or is the risk that someone would take the chips on the table too great?	If a chip is dropped I'll call the floor supervisor over to retrieve it. Yes, the reason is to protect the chip rack.
If you were desperate for money, and you had to find a way to take, say, $250,000 out of a casino, what would your plan be? Is there anything you think you could actually get away with?	There's too many security guards, surveillance, and key cards to take it in cash. It's not Ocean's 11 security but they know what they're doing. The only other option would be to steal chips but the large denomination ones are RFID tracked so that would be a bust as well. I'd have a better success rate applying for a loan at the bank.
You ever run into any damned NCR?	No, this particular stretch of wasteland is ruled by Caesar.
What's your favorite game to deal?	Blackjack is my personal favorite. There's a bit of an art to it that I enjoy. We ARE allowed to cut someone off but it's still a little frowned upon.
Are you allowed to cut someone off if they obviously have a problem stopping when they should, like a bartender cutting off a lush?	We can also cut people off from drinking, like bartenders.
Can you explain a little more? Is it just that it's hard to tell a guy who's just lost a lot of money from a guy that has just mortgaged his house a third time?	The 3rd mortgage story is actually pretty rare. Most gamblers are actually quite good with money. But there are signs we look for to spot problem gambling patterns and direct them to appropriate help.
What other games do you deal? I'm a former croupier. I deal all the games. I used to get high limit black Jack a lot, because I was young, cute and pleasant. That meant more tips and less marks. However, I always had more fun in low level games. I'd take $5 black Jack over hand held baccarat any day. Thoughts?	I deal all of them as well, although I'll admit craps is not my forte. I'm always impressed with the ones who do it well. I prefer low-level stakes myself. Baccarat's a hellishy boring game to deal.
What are the signs you look for?	Multiple trips to the ATM is one. Suddenly gambling much larger amounts of money is another. Referred to as going "on tilt."
So full tilt would mean gambling large sums? If so, TIL.	It's a term more commonly used in poker but yeah, that's what it means.
What's the most you have seen someone win in one hand/night?	The biggest I've seen in one hand was a bad beat jackpot dealt in the poker room. The winner left with a little over 250,000 dollars.
What's the etiquette when you make a mistake? I was in Vegas recently playing poker and someone innocently took an extra dollar back from the pot, so the dealer didn't return my small blind. I told him, he said the pot was right, I said I put $6 in and it was $5 total to call, he said I took $1 back, I said I didn't, we go back and forth, he makes some personal remark about my being bad at math and how could the pot be right, I make some personal remark about it not being my job to police the pot and him being bad at his job. Eventually he offered to call the floor but the guy who took the extra dollar gives it to me so no floor is called. What's the correct way to handle this type of situation?	If you think a dealer has made a mistake you are correct in telling him immediately. The floor should be called if the situation isn't immediately solved. If the money in question is a small amount (say a dollar or two) then the house usually neutralizes the dispute by putting in the missing money. Larger amounts would go through surveillance though.
Vegas is a magic place to me. I love it so much and I'm planning on moving their in my late twenties or thirties, can you tell me what it's like to live in Vegas instead of just visit? Also, how did you get the job of a card dealer?	Locals actually have quite a few perks. Some strip clubs, dance clubs, shows, and etc. have a locals discount or "industry night." The Vegas lifestyle is available to the locals at a cheaper rate but just remember not to do it every day. To get a job as a dealer I filled out an application, passed an audition. Simple as that.
What's the residential part of Vegas like? I've only ever seen the popular areas, Fremont and the Strip, or the deserts. And as far as the heat, I live in west texas and I love working in the dry heat.	It's mostly apartment buildings and gated communities alternated by strip malls and bars. The best bars are off the strip, in my opinion.
When were you hired? What games did you have going in on your resume, what did you audition for?	I was hired for my current job in late 2010. I had all standard table games on my resume and I was auditioning for poker. Resume's aren't as important in dealing as the audition. If you've been dealing for 30 years and you mess up during the audition, they're going to go with the guy with only 1 year of experience who aced it.
What is the largest tip you have received at the table? Is it possible to pick up a casino employee or is that frowned upon?	The largest tip I've received was 600 dollars. I saw a player toss a cranberry (5k) chip to a dealer once. Tips are a big "X" factor for your income and if you're not working at a casino full time it can be difficult to budget.
	I'm sorry, I completely missed your second question. Picking up a casino employee is possible and not really frowned upon. Don't expect much from the girls dealing in the "party pits" though.
Can roulette dealers really drop the ball within a number or two? Do you work at a newer casino or an old one? I miss the sports book at the Frontier. How long have you been at this?	No, roulette dealers cannot do that. Roulette wheels are checked for bias electronically and any suspicious patterns would attract attention. I've work/ed at newer casinos and older ones. I prefer the character of the older houses but I think the Aria is amazing. I've been dealing for about 10 years now.
I was playing blackjack at the Hard Rock a few years ago when a couple of prostitutes joined the table for awhile, trying to strike it up with my brother and me. They eventually gave up and left. The dealer told us he referred to these girls as "rack rats" because when they are successful, it hurt the house take (chips accumulating in his rack). Is that a general term, or just this dealer's lingo?	I've personally never heard it but I wouldn't be surprised if it was a common term. Gaming slang is a lot of rhyming and alliteration. I'd much appreciate it if the whole world would please stop saying "Winner, winner Chicken Dinner."
I'm going to Vegas in a couple of months and I love magic. What are some of the best magic shows to go to and how far in advance should I buy tickets?	By far the best magic show, in my opinion, is Mac King's show at Harrah's. Simple, but amazing illusions in an intimate-sized theatre and very funny. Penn & Teller are great as well. The tickets can be picked up for a discount at ticket booths around the strip the day of the show. The kiosks are called Same-Day Tickets or Half-Price Tickets and are a good value. Stay away from the Criss Angel show. It's terrible.
Why is Criss Angel terrible, in your opinion?	He spends most of the show posing instead of doing magic tricks. I don't think Criss Angel is terrible, just his Vegas show.
Have you ever met a pornstar with hugely enhanced breasts? Like Kayla Kleevage, Minka, or Claudia Marie?	No, but I have met a few pornstars out here. They're generally nice people, although it's always been in relaxed social situations.
How... 'relaxed'?	At bars or private/home games. I've never met any at events like the AVN awards.
I have 200 Dollars for the night. What things to do will last the longest / provide me with the biggest value / return (average-common sense) - sights,places,activities ?	Depends, are you gambling at all?
Yes, Blackjack ? And Roulette maybe ? But I was thinking in the lines of sites / clubs...	If you're going to play low-limit table games you're probably going to want to go downtown to Fremont Street. Set aside about 40 dollars apiece and play the minimum that the table allows. If you want to see a show there are kiosks around the strip and in many casinos that offer discounted tickets for shows on the current day. Clubs are expensive to get into (30 dollars is about average) and the drinks are quite expensive as well (10 dollar beers and god help you if you order anything remotely fancy).
If I won 1 million dollars at the casino would the casino report that to the IRS?	Yes, you'd have to sign a tax form similar to a W-2 to receive the money. Depending on how much you'd gambled in the past year you'd have to pay about 30 percent of it to taxes.
The correct form is a W-2G, where they should automatically mail/give you at the end of the year. It tells you all sorts of other fun details as well, such as what kind of wagebet you made, among other details.	^That's the one. Taxes isn't really my end of the gaming machine.
What's the biggest sucker thing you can do in vegas? I've heard that slot machines are actually terrible odds but people play them anyway... so what are the stupidest ways you can lose your money?	Gambling is generally the quickest way, and slots are the worst but I think some of them are pretty cool. I'm someone who likes flashing lights and noise. Many new penny slot machines have been arriving with preset minimum bets like 25 credits but they pay out odd amounts. This usually leads to a player leaving 19 cents or so on the machine and walking away. There's people who just spend all day wandering from casino to casino looking for unclaimed spare change on the machines. It can be lucrative.
Im going to vegas soon with my girlfriend. Im only going to be there 2 nights and a day and a half. What is something romantic or exciting that most tourists dont know about?	The hiking in Red Rock Canyon is great although you'd need a car. First Fridays down in the arts district is always fun. There are countless shows (stand-up comedy, theatre, etc.) off the strip. If you're unsure of what to do in a particular stretch of time and need ideas pick up a Las Vegas Weekly. They're available for free all throughout town.
Is this a local law, or something? Or does it have something to do with cost?	I don't know but I suspect it's cost-related. Most table games have a 5 dollar minimum bet with a dealer to keep action moving. An undercover cop on the slots could control the pace. I think it's a waste of money either way.
Um..why wouldn't the casino cooperate and just give them house chips to bet with and then give them back? Also can you please tell me a good book to learn basic blackjack strategy (I don't like to always sit in front of a computer)	No, the possibility of fraud is far too high to give away money. There really isn't such a thing as "house chips." There are non-denominational chips that are used in roulette as well as specialty chips used for tournament-style play but use of those would blow the cop's cover, obviously. Also, as long as the hookers aren't pestering every player they come across, the casinos don't really mind them so much. They'll need a bed eventually. To learn blackjack strategy (or really any casino game) I'd actually recommend sitting in front of the computer a wee bit longer and visiting wizardofodds.com. It's a great resource for gambling smart.
What's the most interesting thing that you've ever seen?	That's a big question. It's all VERY interesting. You'll have to be a little more specific.
Has anyone ever made a scene over losing a large amount of money?	As a dealer, you develop quite thick skin. People will call you names and curse a lot but very few actually cause much of a scene. If a scene is caused, security is usually called and they usually eject them.
I am going in a couple days with some friends. However, I don't know how to play any of the table games. Do you know any good sites/videos to learn games like poker for a beginner like me?	Actually, many of the major casinos offer free classes that teach you how to play, usually in the mornings from 9-11 am. Many casino games can seem confusing or intimidating. My advice would be to take the free lesson and, if it seems fun, don't be afraid to throw a few bucks on the real thing. Just don't spend all your time in the casinos.
What's the etiquette for requesting tips? I had a lucky night at the blackjack table and the dealer was being an asshole telling me my "generosity has been outstanding" is it harder work for me to win? fuck that guy. amiright?	You are right. Tips are voluntary and even if we suggest it, we do it in a way that makes you think it's your idea. Some dealers have no tact and that's sad.
Is it not considered rude to ask a guest to tip though?	Yeah, it is but some still resort to it since many people don't know. Most guests that aren't accustomed to tipping will tip after realizing it's the social norm ("when in Rome") but if coerced into tipping will not be likely to later.
Are tips pooled? Do you rotate tables? I imagine the tables with larger bets get bigger tips.	Tips are earned on a table-to-table basis when you deal cash games in poker. Table games (everything else requiring a dealer) generally pool tips and divide them equally on a 24-hour timeframe. All dealers rotate into all games (except for Poker, which is usually a completely separate department) at one point or another. Unless there's a generous high roller most of our money comes from the more numerous, smaller tips from low-limit games.
How does it work with high rollers? Do they carry the cash they bet with? For example, if someone's playing a $500 minimum bet table, I would assume they'd buy in for 10 to 20 bets worth of chips. Do they really just throw 5-10 grand down on the table? And then you call out "Changing ten thousand" and proceed to show every bill to the camera, turn it over, lay it down (and probably cover the entire table 2-3 times over) and then stuff all 100 $100-bills into the cash box? Or do they establish some sort of credit with the casino and just get chips based on that?	They usually get a line of credit for the higher stakes players, yes but you'll occasionally get the high roller that throws up a few grand on the table in cash. I've seen more than a few people carrying 10k bundles around. There's a guy who plays poker down on Fremont Street called The Duke of Fremont Street (you don't say?!) who carries around a violin case full of cash, gold, and gold money clips stuffed with cash. Some people just like the attention.
Besides the line of credit they often have deposits at the cage where they get their chips or wired it in before they plan to enter a casino. Correct me if I'm wrong, MrVegas.	You speak the truth.
Do you like Fallout?	Sure do. Big fan of the games. The map of New Vegas is somewhat accurate although not to scale, obviously.
What is considered a decent tip at a table? Took a reasonable amount of money from the Cosmo a few months ago. I'm a cheap ass who didn't intend to gamble much and finished my trip playing $25 per hand blackjack. If you were my dealer, I hope my tip was appropriate.	Most poker dealers will get a dollar a hand as a tip. Since poker isn't a house game that tip isn't necessarily a "thanks for the lucky hand" but more of a "thanks for moderating the poker game." If you're playing 25 dollars a hand and you are dealt a blackjack, the blackjack will pay 37.50. A common tip on that would usually be the 2.50 but we appreciate a dollar tip/bet. Anything over 5 dollars (that isn't a high-stakes game) would be considered generous.
Fuck you let's not talk vegas. So tell me. What do you think of ohio?	I've never been there. The astronauts seem to hate it though.
What did you think of Nick Papageorgio?	That guy from Yuma who works in software? Nice guy. My friend fitted him for a suit once. Although I heard he stole some tourist wallet once.
Have you ever seen a person or group of people successfully count cards and leave with a profit? Or are they all losers?	I've seen it done to varying degrees of success, it's just not very common anymore, at least in Las Vegas. Most card counting groups operate in smaller Indian Casinos where the dealers are less likely to be trained against it. Opening a brand new casino in an area new to gaming is like ringing the dinner bell for card counters.
Do you have herpes?	No. Condoms are widely available in Las Vegas and encouraged.
Is a royal flush really that rare?	The odds of a video poker machine dealing you a royal flush on the deal is a little under 650,000 to 1 (happened to me once). As a poker dealer, I've dealt four in 10 years, although I've run into dealers who've gone their whole careers without dealing one.
You mentioned that you have been a dealer for 10 years. Do you see yourself doing this until you can retire or do you see yourself moving up? If you want to move up, what do you want to do eventually?	I could easily see myself doing this for awhile. It's fun, easy money and casinos are the best places in the world to people watch. If I moved up I'd probably like to teach dealers. I view dealing as somewhat of an art form and I'd like to reteach the "right" way.
Is card dealing a specialty? In other words, have you never worked craps or roulette? I'm always amazed at how craps dealers can keep track of everything at a busy table.	Pretty much everyone is called a dealer whether they actually "deal" anything or not. I have worked craps and roulette as well. I'm kind of bad at craps, I'm sorry to admit but roulette's fun.
What's the deal with the garish, ugly carpets you see in casinos?	I think many of them are just trying to unique. When you line them up right next to each other one mega casino is pretty identical to the next so they have to out-gimmick each other in every way. Also, many casino's carpet is actually coded to indicate areas where minor are and aren't allowed. There's usually a yellow brick road of sorts to registration and elevators.
Ok, if you see someone thrusting hard, what do you do?	I hope what they're thrusting into is enjoying the attention and I leave them to their business. I'm not sure what you were asking here...
Are there any films that have accurately portrayed what your business is like?	Not really, in my opinion. I honestly think it could be a decent (can't believe I'm saying this) reality show but the corporations that own the casinos would never let us speak frankly.
What kind of cards do you use, bicycle?, a deck specific to the casino?, or something completely different?	Most casinos use Kem or Copag cards for poker. Anyone who plays cards at home should pick some of these up. They're pretty difficult to mark, bend resistant, and they're perfect for parties. You can wash them in the sink! Blackjack and other card-based table games generally use custom cards made for the casino. I've never really paid attention to what brand they are since they're changed out so often.
My wife & I are going in a few months. (4 days/3 nights). I plan on playing/losing ~$100 on roulette and avoiding the card games. We are mostly going for shows (I'll check out those booths you mentioned) & food. One of the days I plan to send her to a spa and I want to check out some sport related gambling. Where is the best place for sports betting? Is there live betting (quick bets as in : Will Verlander strike the next batter out?)	I've always thought the LVH (the old Hilton) has a really nice sports book and their odds have always been fair. The kind of live betting you're looking for is usually the kind of action you'll get from the other patrons in the sports book. The casino doesn't have time to set odds on that short of notice.
What's the deal with craps? I went on a cruise and they had a video on casino games on a continuous loop and i'd watch the craps session over and over and still not get it. i also went on a little mine-class in the casino, was still drawing blanks. is there a "Explain to me like i'm 5" with craps.	Craps is confusing because the objective of the game changes so frequently and the odds are somewhat strange. Unless you want to go in-depth with game strategy I'd suggest putting your money on the pass line and throwing the dice until they tell you to stop. Not the best advice, I know, but I'm not a huge fan of craps.
I'll be in Vegas this June, what are the best night clubs? Is it best to buy tickets for the clubs and shows before hand or just go with the flow once I'm there?	It's a little pricey to get in (40 dollars last time I was there, if memory serves me correctly) but the Moon nightclub at the Palms Hotel is pretty damn cool. Open air at the top of the building. I'd buy the club tickets in advance since they're usually the same price. Half-price ticket booth the day of the show you want to see.
What is the best local restaurant in Vegas? Like, residential area restaurant.	The Asian food out here is great. The Chinatown District on Spring Mountain is packed with awesome food. Just pick one.
I am going to Vegas for my first time in a couple of weeks. Any tips, advice, where is the most fun to be had for the lowest price? Thanks for doing this AMA!	There are lots of groupons available for Las Vegas. The pinball museum is a cheap way to burn an afternoon.
Also -is there a proper etiquette when playing with other people (eg Don't hit when a dealer has a bust card), or is it every man for himself?	Proper etiquette is to shore up your hand against the dealer's without harming the other players. Hitting when the dealer is showing a bust card has started more than a few fights that I've seen. Practice basic strategy and try to make sure you're playing with people who do the same.
Swingers club?	The two popular swingers' clubs are The Green Door and The Red Rooster. Ladies get in free (of course), single men pay a pretty high cover charge, and couples get in for half price. They're... interesting places to meet people.
If someone is counting cards but is also a generous tipper, do you let him get away with it a little longer?	Tipping is one way of diverting attention and, yes, it does work. However, as I stated elsewhere, card counters have to adhere to certain rules and formulas regarding their wagers. They've made blackjack a business and tipping is bad for business.
What are some tips to get casino comps? Also what is your favorite buffet in Vegas? (We go to Vegas for the food and right now our Favorite is the Bellagio)	Ask for them. The biggest thing is shyness. There's a lot of people gambling in a casino at any given time so if you want your play to be evaluated for comps, simply tell the dealer or floor manager. I don't eat at the buffets too often.
Do you prefer I give you straight tip or put your tip down as a wager?	Alternating them isn't a bad way to go. Or you can always ask the dealer.
What's the strangest thing you've ever seen while dealing?	Wilford Brimley calling me a cocksucker.
How much do you make per year?	It varies, of course. It averages out to around 38-46k. I'm not a rich man but I enjoy the hell out of life.
Is it worth doing a hooker?	That's up to you man. I know people who've had bad experiences with them and I've had people who've had great experiences. Not all hookers are diseased and misguided. Some are business-minded and know that they're offering a service and do so professionally.
What do you think about older smaller casinos. Have you been to the tropicana lately?	I enjoy a lot of the smaller places. The Clarion is a great locals hangout and so is the Greek Isles. I was at the Trop yesterday. They recently remodeled almost the whole place. Looks great.
I heard the casinos make applicants take a hair test before getting hired...is this true?	Yes, you need to pass a drug test (usually hair) to get hired at nearly all casinos. It's only the one unless you do a union job though.
So when it comes to poker, "tight is right"?	I'm not sure I understand what you're asking. Could you elaborate?
Thank you for counting my cards when I'm a little slow.	You're welcome. You're there to have fun, not to do simple math all day.
I hear there are hookers in Vegas. How much would it cost for the hooker and I to get naked, except for sailor hats. Then we get into a Jacuzzi filled with Pepto-Bismol, and I clip her toenails while she shaves my buttocks.	3000 dollars.
Prostitution is illegal here in Clark County. Just felt like pointing that out.	I couldn't resist the Rat Race reference. Yes, prostitution is illegal, BUT you can drive about 45 minutes west to Pahrump and get a legal hooker at a brothel.
Dont a question for you, but this was the best AMA I've read in months! Funny answers, and detailed answers for the serious questions.	Thanks. This is pretty fun, I've got to say. This is my first AMA and I genuinely like informing and entertaining people. It's probably why I love my job.
Yes, I'm referring to the playing style. Either you place "loose" and play a lot of hands. Or you play "tight" and play far less hands, the best hands.	Poker strategy is slippery and no one credo or saying is right. If you're a beginner it's best to play a little more conservatively but you'll need to able to change gears eventually.
Unless he was controlling a single deck with both hands, never.	Right answer.
10% Generous/Grateful 5% A welcome but standard tip 1% Depending on your attitude towards me, may have been an insult, or just a cheapo.	Never feel like a tip is an insult. I make nearly my entire living by people tipping me one dollar at a time. "Cheapos" pay my bills.
I've personally never heard it but I wouldn't be surprised if it was a common term. Gaming slang is a lot of rhyming and alliteration. I'd much appreciate it if the whole world would please stop saying "Winner, winner Chicken Dinner."	Also, the savvy prostitutes will only pick up guys from table games. Vice cops can play slots undercover to try to lure in hookers but can't play table games.

Last updated: 2012-03-28 10:18 UTC
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