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Wednesday
13Dec

Vegas Advice from a Bum

185368.thb.jpgDear Mark,
I very much enjoy your helpful hints on casino gambling in your columns, but I'm curious, what's the best advice you've ever heard preached? Ned C.

In the casino business, the best admonition to get ahead is "Never make suggestions." As for a gambling nugget, the following voice of reason caught my attention while I was walking down the Strip in Las Vegas.

A panhandler approached and asked if I had any loose change so he could buy a hot dog. Unfortunately, spare change doesn't exist in Las Vegas. Strategically positioned slot machines allow you to travel light. But I guess I'm an easy mark for a hot dog story so I gave him a nickel chip-casino talk for $5-that I had in my coat pocket.

After his gratitude for my allowing him to bump up into buffet dining, or whatever, he shared some of his best gaming wisdom. "Go downtown to Binion's and make a pass line bet and take those 10 times odds. It's one of the best bets in the house," he said.

Guess what, Ned? He's right on. The house advantage on this wager is .018%. Those multiple odds he was talking about- zero casino advantage. It's the line bet where the casino enjoys its slight edge. And I mean slight. Expected mathematical loss on a $1 line bet with $10 odds, about 4¢. But we can combat that too, Ned. Throw in a few free drinks and pry a breakfast out of a floorman, you're getting to the point where they're paying you to play.

Yes, advice comes from the funniest places.


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