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- One player betting $10,000 per hand was worth a thousand players betting $10 per hand. An individual player’s result (such as the result of a Kerry Packer) can sometimes change the bottom line result for an entire month! The big Vegas casinos had to make some quick decisions after September 11.
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Pretty simple stuff but I didn't understand the 20% discount part.
He negotiated a loss rebate.
Hardly an authoritative site, but it has a handy excerpt: http://boingboing.net/2012/03/30/how-a-high-roller-took-million.html
(Edit: Slightly more specific question-- at least in terms of BJ, how would a loss rebate affect the edge? A straight reduction of the edge by the percentage of the rebate doesn't seem right.)
. Pretty simple stuff but I didn't understand the 20% discount part.
It seems like simple stuff because if you don't understand that part then you really don't understand at all. All the other stuff is mostly meaningless. The 20% is really the only key to everything he was able to do.It seems like simple stuff because if you don't understand that part then you really don't understand at all. All the other stuff is mostly meaningless. The 20% is really the only key to everything he was able to do.
How was he able to negotiate that? Can anybody do that? It's funny cause in the video he says his 'secrets' and all they are are typical liberal double deck rules.The Player Secrets Of A Vegas Whale Netflix
He negotiated a loss rebate.
Hardly an authoritative site, but it has a handy excerpt: http://boingboing.net/2012/03/30/how-a-high-roller-took-million.html
(Edit: Slightly more specific question-- at least in terms of BJ, how would a loss rebate affect the edge? A straight reduction of the edge by the percentage of the rebate doesn't seem right.)
There was a long thread about this. Eliot wrote a good paper about it -- I think it's available on his site somewhere. It assumes normal distribution or results but that is probably close enough for blackjack. It also assumes that you can play arbitrarily long (DJs discounts were daily, so he had a limited amount of time in which he had to quit) so Eliot's numbers are probably a slight over-estimate, but that's not going to make a huge difference.
In short, it's a non-trivial problem to solve.
Establish yourself as a sucker and have a nice line of credit. Its harder to get any deals like this nowadays but it is possible.
You don't really need to establish yourself as a sucker. Loss rebates are pretty typical. They are downright easy to get on machines (though not 20%; that is ridiculous)
I think front money is generally preferred to credit.
You don't really need to establish yourself as a sucker. Loss rebates are pretty typical. They are downright easy to get on machines (though not 20%; that is ridiculous)
I think front money is generally preferred to credit.
I was talking about someone trying to AP, I assumed we were talking 20%. Whales often have lines of credit. If you can get a line of credit and negotiate the same deal your better off whit the line of credit. This way, if the casino tries to renege or pull any stunts you have the upper hand.
There's a casino that refused to pay me over $13,000 that they owed me because the casino's owner reneged on an agreement which we had. Don't make a verbal agreement with any casino representative unless it's witnessed.
The Player Secrets Of A Vegas Whale
There's a casino that refused to pay me over $13,000 that they owed me because the casino's owner reneged on an agreement which we had. Don't make a verbal agreement with any casino representative unless it's witnessed.
that's why phones have a video recorder.and a line of ctedit could come into play.