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The best way to explain this casino caricicature is, for once, through the eyes of Hollywood. Do you remember the scene where K.
K Ichikawa , the mega-rich Asian businessman, flies into Las Vegas and Sam Rothsetin Robert De Niro sends a limousine to pick him up from McCarran airport, treats him like a king and then puts him up in a lavish suite in the hotel?
They live for the thrill of betting big. They buzz with excitement of playing for the largest jackpots and, needless to say, casinos love them.
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A high roller is a gambler who wagers large amounts of money. Casinos may also extend credit to a player to continue betting, offer rebates on betting turnover or losses, and salaries of employees may also contain incentive arrangements to bring in high rollers.
The definition of a high roller varies. High roller casino players often have very high table limits allowing the high roller exclusive use.
Casinos compete on bet limits. High rollers may also be subject to exceptions from various rules and regulations; for example the high roller rooms at Crown Casino in Melbourne, Australia are the only licensed venue in the state not subject to a ban on smoking.
There have been many cases around the world where high rollers have committed fraud to provide funds for gambling beyond their means, after becoming seduced by the lifestyle.
While high rollers may not provide a significant portion of the revenues in the casino industry as a whole, they can have a major effect on the net income of casinos that cater to them.
There are significant costs associated with attracting the highest stakes gamblers, so if a casino takes this chance and the patron wins, its expenses can be extraordinarily large.
An organization, such as a large corporation, that spends or invests liberally or rashly. In the s it was dukes, earls and cabinet ministers, who made their way to the exclusive gaming tables in Mayfair.
The Saudi Arabian entrepreneur Adnan Khashoggi has been a regular big player at the top London clubs for many years.
So it is a bit circular. You are looking at unlucky years. That is the business we are in. You are talking about a volatile business. The most recent available accounts for the club are for and Mr Aspinall said the club was now doing better.
He said that despite his plan to move away from the elite clubs founded by his father such businesses would not die out.
It is part of the business. When you lose these amounts it is a knock for the casino concerned, but you have weeks like that.
It is big numbers these days. The winners could be three people over a number of days, it can be one person in one night.
There are plenty of players all over the world who have won and lost that sort of money in a night. Years ago, I was mildly obsessed with understanding casino economics and cheats, and read a bunch of books on how to win or at least lose slowly at a casino.
The secret to converting the negative expectation game to a positive expectation game was to trick the pit bosses. When the pit boss comes by to look, start playing fast and loose, and increase your bet-size.
If the ruse works, the pit-boss will be tricked into comping you enough freebies to make your play pay, even if only by a little.
But Don Johnson went much further. As a high-roller, Johnson was often solicited by the big casinos to come and play at their tables.
As the recession deepened, the offers got sweeter. Johnson is also a monstrously focused, skilled blackjack player.
So he would negotiate these excellent deals from the casinos, bring a huge stake with him, sit at a blackjack table, and play at high velocity, making zero mistakes, for extremely long stretches.
Because the casino values high rollers more than the average customer, it is willing to lessen its edge for them. Beyond the usual high-roller perks, the casino might also sweeten the deal by staking the player a significant amount up front, offering thousands of dollars in free chips, just to get the ball rolling.
The player still loses. But two years ago, Johnson says, the casinos started getting desperate. With their table-game revenues tanking and the number of whales diminishing, casino marketers began to compete more aggressively for the big spenders.
By late , the discounts at some of the strapped Atlantic City casinos began creeping upward, as high as 20 percent. Don Johnson finds it hard to remember the exact cards.
At the height of his hour blitz of the Tropicana casino in Atlantic City, New Jersey, last April, he was playing a hand of blackjack nearly every minute.
Dozens of spectators pressed against the glass of the high-roller pit. Word spreads when the betting is that big. Johnson was on an amazing streak.
The towers of chips stacked in front of him formed a colorful miniature skyline. The basics of blackjack are simple.
Almost everyone knows them. You play against the house. Two cards are placed faceup before the player, and two more cards, one down, one up, before the dealer.
The goal is to get to 21, or as close to it as possible without going over. Scanning the cards on the table before him, the player can either stand or keep taking cards in an effort to approach His next two cards, surprisingly, were also both eights, so he split each again.
Johnson says he was once dealt six consecutive aces at the Mohegan Sun casino in Connecticut. He was neither nervous nor excited.
He is a veteran player. Little interferes with his concentration. Whenever the racily clad cocktail waitress wandered in with a fresh whiskey and Diet Coke, he took it from the tray.
Arrayed on the table before him were the four eights. When his second hand was dealt a two, he doubled down on that, too. He drew a 10, so the two cards he was showing totaled This was a good bet: Johnson won all four hands.
As another skyscraper of chips was pushed into his skyline, he signaled for the next hand. He was just getting started.
The headline in The Press of Atlantic City was enough to gladden the heart of anyone who has ever made a wager or rooted for the underdog:. But the story was even bigger than that.
Caesars had cut him off, he says, and then effectively banned him from its casinos worldwide. Fifteen million dollars in winnings from three different casinos?
Nobody gets that lucky. How did he do it? The first and most obvious suspicion was card counting. Card counters seek to gain a strong advantage by keeping a mental tally of every card dealt, and then adjusting the wager according to the value of the cards that remain in the deck.
The tactic requires both great memory and superior math skills. Made famous in books and movies, card counting is considered cheating, at least by casinos.
In most states but not New Jersey , known practitioners are banned. The wagering of card counters assumes a clearly recognizable pattern over time, and Johnson was being watched very carefully.
He had beaten the casinos fair and square. All of these gambling houses were already hurting, what with the spread of legalized gambling in surrounding states.
By April, combined monthly gaming revenue had been declining on a year-over-year basis for 32 months. For most people, though, the newspaper headline told a happy story.
An ordinary guy in a red cap and black hoodie had struck it rich, had beaten the casinos black-and-blue. It seemed a fantasy come true, the very dream that draws suckers to the gaming tables.
Despite his pedestrian attire, Don Johnson is no average Joe. For one thing, he is an extraordinarily skilled blackjack player.
What gives Johnson his edge is his knowledge of the gaming industry. As good as he is at playing cards, he turns out to be even better at playing the casinos.
Hard times do not favor the house. Pennsylvania is likely to supplant New Jersey this year as the second-largest gaming state in the nation.
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