Lost $3,000 on high limit slots

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xmontrealer

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May 23, 2005
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hard dick tony said:
Dana White getting banned demonstrates both the requirement of both winning more often then losing and the dollar amount - Millions in his case.

That is why casinos will 'limit' a whale player to $5K a hand instead of out right banning them.

We know about Dana White because of his social presence. It does make for entertaining videos to watch about him.
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Apparently another reason for betting limits is to thwart people trying to use the Martingale betting strategy.

The strategy is if you win your first hand, you keep the money. If you lose the next hand, you double your bet the hand after that to get back your loss. You keep doubling until you get back to even on that first loss of $5.
If you were allowed to keep doubling infinitely it would be a guaranteed winning system. However, a betting limit stops that infinite progression.

Say your first bet is $5, and you lose.

Say you continue the doubling and keep losing.

Say the betting limit is $5,000, which it is in the $5 minimum Blackjack game at BetRiver.

Bet 1 = 5
Bet 2 = 10
Bet 3 = 20
Bet 4 = 40
Bet 5= 80
Bet 6 = 160
Bet 7 = 320
Bet 8 = 640
Bet 9 - 1,280
Bet 10 = 2,560
Bet 11 = 5,120 But you can't bet that cuz the max is $5,000.

Blackjack can be a streaky game, and so can roulette. Don't forget the progressive losses are cumulative. So worst case you can lose much more than $5,000 trying to get back the original $5 plus your consecutive losses.

Btw the longest streak of consecutive reds in roulette was 32 times in a row in an American casino. Happened in 1943.
 
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hard dick tony

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Video of Dana showing a buddy how to play quick and loose, heads up, $10,000 a hand:


In the video you can see how quickly heads up goes by. How the dealer can get back to back 21, open with blackjack first hand - anyone who has played for years (decades) will relate. You also get to see how stupid loud players can get. They are in a private room at least and betting big but still, we have seen (or heard) these players all too often, especially the drunken ones.

I have seen players explode with joy over $100 hands and seen players barely crack a smile winning $10K a hand in the vip room.

Dana's biggest gift to this player was pulling him off the table up 4x his bet of $10k. The $3K tip was impressive as well.
 
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hard dick tony

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xmontrealer said:
Apparently another reason for betting limits is to thwart people trying to use the Martingale betting strategy.

The strategy is if you win your first hand, you keep the money. If you lose the next hand, you double your bet the hand after that to get back your loss. You keep doubling until you get back to even on that first loss of $5.
If you were allowed to keep doubling infinitely it would be a guaranteed winning system. However, a betting limit stops that infinite progression.

Say your first bet is $5, and you lose.

Say you continue the doubling and keep losing.

Say the betting limit is $5,000, which it is in the $5 minimum Blackjack game at BetRiver.

Bet 1 = 5
Bet 2 = 10
Bet 3 = 20
Bet 4 = 40
Bet 5= 80
Bet 6 = 160
Bet 7 = 320
Bet 8 = 640
Bet 9 - 1,280
Bet 10 = 2,560
Bet 11 = 5,120 But you can't bet that cuz the max is $5,000.

Blackjack can be a streaky game, and so can roulette. Don't forget the progressive losses are cumulative. So worst case you can lose much more than $5,000 trying to get back the original $5 plus your consecutive losses.

Btw the longest streak of consecutive reds in roulette was 32 times in a row in an American casino. Happened in 1943.
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Many many moons ago I remember seeing this strategy in full display, of all places, in a canadian casino. Windsor back then and perhaps still does have VIP room limits of $100 min....$25,000 max. It was a wild ride just watching the player scale up both his losing streaks and winning streaks, he must have been swinging $100-200k that night. Windsor is the only casino I have seen such a large range min/max other then VIP players who have a personal higher limit - but I have never been in the ultra VIP back rooms of the biggest casinos, only heard about them.
 
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stinkynuts

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Jan 4, 2005
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xmontrealer said:
No kidding. If you think you see people playing Blackjack badly in Vegas, its nothing compared to how badly some people play on-line.

I've seen people on-line stand on a 6 and 2 = 8, with the dealer's face card being a 6. I've also seen people pull on 16, again with the dealer showing a break card such as 4,5,or 6. These are 6 or 8 deck shoe games so counting is almost impossible.
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But they can't be worse that Austin Powers:

 
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eddie kerr

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Jan 16, 2004
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RichardG2020 said:
Slot machines are programmed with an algorithm which ensures that overall, the house always wins. Why play something that is programmed to make you lose?

The best odds are poker, because there is some skill involved.

Black Jack can be hacked. It’s called card counting and all casinos vigilantly watch out for it.

The hardest thing to do at a casino is to leave when you’re up. Most people can’t.

Or someone may win and cash in their winnings, but eventually return a week or two later and lose what they had originally won and more.
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Agree. One thing about blackjack card counting, i used to do it at a live casino and it did help but that was when they only used two decks. The casinos got wise and started using up to six decks. Also, if a casino thought you were a card counter, they would ban you.
 
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TFZL1

TFZL1

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Mar 24, 2015
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The odds on Slot machines, real or online, aren’t really that bad. They make money by taking your money of course.
But what gives them big profit is that stupid greedy people can’t walk away when they win, they just go again and give it back to the machine.
But the really sad part is gamblers have no choice but to walk away when they are down, leaving thier money behind.

I’ve done more than my share of losing and winning just enough to go back and lose more.
I quit casinos and gambling about 20 years ago.
I went back once, I took a fav SP for a nite out, dinner and casino because she had never been.
I expected to lose a bit and have some fun.
I found a cheap machine that was big and fancy, .50 a roll max.
It Paid out 1,549.50. And I took it with me.
I dragged her out because she wanted to keep going.
I’ll be happy to never go to a casino again.
 
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superstar_88

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Jan 4, 2008
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myballsitch said:
Slots are a suckers game....reserved for seniors in their diapers. They love the flashing lights whe their minds start to go.
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they're called one armed bandits for a reason
 
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hard dick tony

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Jan 2, 2023
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xmontrealer said:
Less full $5 Blackjack tables. Dealers not almost falling asleep (usually). For whatever reason I seem to have better luck on BetRivers...
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I have not tried live dealer online blackjack. Had some good luck last year with the software dealers and knew it wouldn't last, otherwise stuck to real casinos for the last 25 years.

You my friend are my inspiration to look into live dealer online blackjack. Already seen some crazy videos on YouTube. Thank you.
 
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danmand

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Hmmm, this thread has somehow morphed into encouraging gambling.
 
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