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Imagine this scenario. A visitor to Las Vegas finds a game in a casino that he knows has a small house advantage. Therefore, he thinks, he shouldn't lose a lot of money playing that game. He plays for a short while, and he loses all of his money, and he walks away confused and pretty unhappy. What happened? Was it just bad luck? More likely, he just experienced the concepts of volatility and of risk of ruin!
A recent VegasChatter article about how much money is needed for a trip to Las Vegas got me thinking about the closely related concepts of risk of ruin, volatility, bet size, and total gambling bankroll size. Risk of ruin explains why you can play a game with a slim house advantage, and still lose your entire bankroll more quickly than you might expect.
If you’ve been on the Vegas Strip anytime in the past year or so there’s a good chance you’ve seen that New York-New York has at least one $5 blackjack table open throughout the day. If things get busy, they’ll open a second. It’s more difficult every day to be a low roller on the Vegas Strip so any $5 game is a welcome sight for many. These tables are almost always packed with people waiting to get on them.
Unfortunately, these aren’t the games for those looking for low-rolling blackjack with good odds. You’re paid 6:5 when you are dealt blackjack, making returns on this game about three times worse than a traditional game that pays 3:2. You won’t find many games on the Vegas Strip that are under $15 or $25 that pay 3:2. Howevuh, if you're at New York-New York, you’re across the street from one of the best blackjack games on the Strip.
Binion's / Blackjack / Low Rolling / Downtown Vegas / Downtown / → All Tags
We all loooooove cheap gambling. Especially, when the gambling is good. Well, we may have found the best new low rollin' blackjack in Las Vegas. The $1 blackjack at Riviera is cool, but it’s almost impossible to find a seat at the single table devoted to super low rollers. You're more likely to find an open seat at one of the nearby $5 or $10 tables.
It looks like Binion’s took notice of that and improved on it for their Throwback Thursday Blackjack promotion.
Gambling / Casinos / Party Pits / Dealers / Blackjack / Tips / Survival Strategies / → All Tags
Casino party pits aren’t for everyone. These parts of the casino are often marked with scantily clad go-go dancers and dealers, even louder music and less-friendly blackjack payouts. There are people that enjoy the atmosphere and don’t mind playing a game that pays 6:5 as long as they’re having a good time.
One of our go-to resources for casino gaming information, Michael Shackleford (a.k.a. Wizard of Odds), recently interviewed Angela Wyman, a former party pit dealer, who revealed some interesting information about what it’s like. The interview (embedded below is 15 minutes long, but here are some highlights if you don’t have the time to devote to it.
Tips / Survival Strategies / Gaming / Gambling / Blackjack / Video Poker / → All Tags
Many of us like to go back to the basics to become a better person in a new year. Soul searching can sometimes do the body and the mind good. We’re not going to get that deep. We will, however, look at four basic concepts that will help you become a better gambler in 2015, and beyond.
1. Don’t chase: It's instinctual to chase losses when gambling. Nobody likes to lose. Unfortunately, chasing losses often ends up extending a cold streak and sees your money going in the wrong direction. Casino games all have a house advantage. Sometimes you’re going to win and sometimes you’re going to lose. Losing stinks, but it’s going to happen. Just take the loss to your allotted budget and move on.
MyVEGAS / Apps / Blackjack / Video Poker / Slot Machines / Station Casinos / MGM Resorts / Facebook / Free Vegas / → All Tags
Late last year, MyVEGAS launched a slots app for mobile phones and tablets. Due to its popularity, a blackjack app was added this year. And, it won’t be the last for the franchise as a video poker app is already planned.
Social casino games, in general, are having a great year. Revenue is expected to be north of $3 billion. Sixty million of that will be earned by MyVEGAS alone. That sounds like a lot, but it shouldn’t come as much of a surprise. Here's what 2014 brought for MyVEGAS:
New casino games come and go pretty quickly, especially in Las Vegas. It takes a lot of positive feedback (money) to move a new game from the testing phase to becoming a permanent fixture on the casino floor. Some people look at new games and just move on while others will give it a try. If you like blackjack, you have a few weeks to check out a new variant at the Fremont in Downtown Vegas.
Change It 21 is currently in testing at the Fremont and should be available for, at least, the next couple of weeks. If the game shows that it’s popular this field trial may last up to 180 days.
Gambling / Casinos / Roulette / Slot Machines / Video Poker / Baccarat / Pai Gow Poker / Blackjack / → All Tags
Gambling is as healthy as anything else you do for hours without moving. Yeah, it's not all that healthy and the habits developed while gambling, like drinking and smoking, only make things worse. That said, gamblers aren’t any less healthy than the rest of the population. This is according to a survey of 2,000 gamblers in England.
The poll found gamblers in England have the same general Body Mass Index (BMI), 27, as the rest of the population. According to the CDC, Americans have a similar BMI. For the sake of commonality among gamblers, let's assume that Americans and English have similar lifestyles, too.
MyVEGAS / Apps / Blackjack / Video Poker / PlayStudios / → All Tags
ARIA / MGM Grand / The Mirage / New York‐New York / Excalibur / MyVegas / PlayStudios / Free Vegas / Facebook / Apps / Games / Blackjack / Slot Machines / → All Tags
PlayStudios, known for its MyVEGAS Slots app and Facebook game, has announced the launch of its newest product, MyVEGAS Blackjack. MyVEGAS Blackjack is an entirely new and separate app from MyVEGAS Slots and is free to download and play on iOS and Android devices. Much like the MyVEGAS Slots app, you can sync your points between MyVEGAS Slots, MyVEGAS Facebook and MyVEGAS Blackjack.
The newest offering provides core table games players with the chance to earn real world casino, restaurant and entertainment rewards while enjoying a familiar blackjack experience. With the launch of MyVEGAS Blackjack, PlayStudios hopes to capture an entirely new segment of the gaming market. Blackjack players tend to skew male while slot machine players tend to be female.
VegasChatter Emails / Blackjack / Tuscany Suites / MAX Casino / Ellis Island / Gambling / → All Tags
The hunt for good blackjack games in Las Vegas never ends. The expansion of 6:5 blackjack on the Vegas Strip means there are less 3:2 games available, which offer better returns and are more desirable to play. Experienced visitors and blackjack players know where to find the better games in town.
VegasChatter reader MinnesotaPhats recently emailed us to remind everyone that there are better alternatives if you venture off the Strip:
Online Gambling / Video Poker / Blackjack / Gambling / Poker / Online Poker / Gaming / → All Tags
Online gambling isn’t such a big deal right now. It’s getting off to a slower start than many originally thought it would. That will change as states add online gambling, but it won't happen very quickly.
One of the first steps in growing online gaming will come from online poker. Online gambling isn’t so simple to explain to everyone because it’s not an equal monster. Online gambling is currently legal in Nevada, New Jersey and Delaware. While Nevada only allows online poker, the other states offer other types of casino games from blackjack to slot machines.