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Gambler's Ruin
by Mark Pilarski
Dear Mark,
Casino Windsor has high table minimums and low table maximums. Is this a
player advantage? Danny P. Novi, MI
Quite the contrary, Danny. It's a huge advantage for the casino, and here's
why. Casinos win for two reasons. First, a statistical edge (percentage
advantage) on each and every game, and second, they have a whole lot more
cash and staying power than you do. For the latter, it's a simple concept
called "gambler's ruin." In essence, it's how long will it take
you-with your limited bankroll-to lose everything to a casino, which has
a relatively infinite wad of cash. So even if you do have a short-term winning
streak, Danny, when the house has this infinite stake, they can, and will,
always outlast you.
Now to your situation playing the high minimums/low maximums limits. When
you have a casino with a competition-free monopoly, you tend to find table
limits that, in my humble opinion, border on larceny. This scenario eliminates
low stakes betting (high minimums); plus, the ability to parlay your winnings
by increasing your bets (low maximums) is removed. Unfortunately, when you
play under these conditions, depletion of a low-roller's bankroll in a matter
of minutes is not uncommon.
So the long and short of it is this, Danny. Avoid playing high minimums/low
maximums table limits like the plague!
Dear Mark,
If I were to hit one $1 million on a progressive quarter slot machine, will
they pay me all at once? Dave L. San Diego, CA
Forget borrowing Uncle Fred's three-quarter-ton pickup truck to haul off
42,000 pounds of quarters. Look at the machine closely, Dave. A sign placed
inconspicuously on the machine will read something like "Progressive
Jackpot paid in 25 equal installments. First installment paid upon validation
of win."
One exception is a statewide progressive machine in Nevada, and other locations,
called "Cool Millions." Bet 3 bucks, line up 3 ducks, and you
win "the first million" instantly. Now if you get your ducks in
line, Dave, make them pay you in $100 bills. They will weigh only twenty
and a half pounds.
Dear Mark,
In the Army we shot a lot of dice to cure boredom, betting anything from
military script to cigarettes. Some of our rolls seemed to go on for hours.
Any confirmed record of a longest roll? Bob P. Salinas, CA
The hottest hand of all time belongs to Stanley Fujitake of Honolulu. Stanley
held the dice for three hours and six minutes at the California Hotel and
Casino before cinco dos, adios (the 7) appeared. Anyone rolling a longer
hand on a blanket in the Army barracks-not including loaded dice stories-I'd
love to hear from you.
Dear Mark,
I witnessed something amusing recently in a casino, someone sprinkling salt
all over a slot machine. Did she really think this would bring her luck?
Edith B. Superior, WI
By sprinkling salt, this superstitious gambler was trying to make the machine
pay off by using salt's association with money. It comes from ancient times
when workers were paid with salt, called "salarium." We know that
word today as salary.
Now my own personal feelings about (a) luck and (b) superstition. When it
comes to the goddess "Lady Luck," I'm an atheist. Smart wagers
bring luck! I have a saying, Edith, if you will: "The smarter you play,
the luckier you'll be." Salt to me has more value disguising my wife's
cooking, not showering a machine with it.
Before I Shuffle:
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Got a question about gambling? Write to: Deal Me In, 774 Mays Blvd.
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