A Statistical Look at Professional Poker

I don’t play casino poker because I don’t find it fun and don’t like to commit myself to sitting at a table for a long period of time.  I keep my poker playing to taking my friends money.  I find that to be much more fun.  For this reason I don’t find too many stories about poker too interesting.  Today, I found something of interest.

Professional poker player, Daniel Negreanu, broke down statistics from that were recently published by the World Poker Tour (WPT).  He states that players need to make about $20,000 per tournament they play with entry fee being $10,000 and travel being another $10,000.  $10,000 for travel seems a bit high, but I guess when you travel with others and travel big it all adds up.

Of the 176 poker professionals Negreanu noted that only 56 of them reach that $20,000 mark.  That is just over 1/3rd of professional poker players that average break even.  I’m surprised that the number is so low.

Check out Poker News Daily for the full story.

In Running Sports Betting

I was prepping for my upcoming trip to Las Vegas when I came across something that looks to be pretty awesome at the Palazzo and Venetian: In-Running sports betting. In short, this is a way to make sports bets during a game using a device a little bigger than a blackberry. Both prop bets and standard bets are available and lines are updated throughout the game.

After a little more research I learned that Palazzo and Venetian are the only casinos on the strip offering In-Running sports betting.  The technology debuted earlier this year at M Casino.

What a great tool to protect bets if you’re sitting at a sports book watching the games.  This is a smart addition for Palazzo as it gives people another reason to sit, eat and drink at Lagasse Stadium.

I like making a lot of small bets in addition to full game bets and this makes a perfect addition to my style of sports betting.  Needless to say I’m slightly smitten by this.

The Las Vegas Review Journal has a full look at In- Running sports betting.

A Different and Simple Blackjack Strategy

Wizard of Odds posted an update to their simple blackjack strategy.  I’m all for simple strategy and will sometimes modify perfect strategies to be a little more simple.  While I try to play perfect strategy, I have a short attention span and usually drink when I gamble so perfect strategy sometimes goes out the door.
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Continue reading “A Different and Simple Blackjack Strategy”

Lagasse’s Stadium Opens!

Lagasse’s Stadium opened this weekend at The Palazzo in Las Vegas and I am stoked!  When I last visited the Palazzo, there was no noticeable sportsbook and this changes things a little.

Lagasse’s Stadium combines Emeril Lagasse’s signature cuisine with over 100 HD TVs including 9ft x 16ft main TV, luxury boxes, plush stadium-style seating, billiard tables, and an outdoor patio just steps from the Strip. Excitement abounds with sports betting stations, black jack and craps tables, video poker machines, billiard tables and video arcade games.

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I prefer a sportsbook with a bar so that I can play video poker while I’m watching a game and drink for free.  The website, doesn’t give a picture on whether or not that’s the case.  At the same time, the option for good food and nice seating for the games is a good option.

I’ll be staying at the Palazzo on my next trip to Las Vegas so this could be a nice treat.  I’m looking forward to the trip, just a little more now.  The Las Vegas Weekly has a full recap on opening night ceremonies.

2 Card High – New Casino Table Game

2 Card High almost has gaming board approval and this table game could be coming to Las Vegas casinos and casinos near you.  The Las Vegas Sun details the game and the approval process.

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At first look, this game does not seem appealing to me at all.

Get 5 cards, play two, add to 10, 20 0r 30 without a face card.

Sounds way too complicated to be fun.  I thought Pai Gow was complicated when I first heard about it and now I love it, so we’ll see.

I’m curious to see what the payout percentages are when this rolls out.  Part of the fun of Pai Gow for me is that I can sit, drink and play close to even pretty often.

NFL and Government Really Are OK With Gambling

NFL Logo
NFL

So, the NFL and government are really OK with using their facilities to promote gambling.  Sure lottery games are legal in most states, but how is the government-run lottery any different than casino gambling?  Even in states that have gambling lottery games are still the easiest way for most people to gamble.

This year the NFL sued Delaware for “trying” to keep sports betting illegal.  At the same time the NFL has approved the use of its logos and teams for more and more state lottery games.  New Jersey has become the latest state to allow NFL marketing as part of their lottery games.

In New Jersey, the lottery is running a promotion that will give scratch off losers the opportunity to win a New York Giants fan pack. It is directly using the Giants popularity to sell gambling to the masses in the state.

“This is one of the worst ideas that NFL owners have ever had,” said CGW Business analyst Steve Schwartz, “More children watch football than ever before, and now, the lottery is throwing these scratch off tickets in their face, hypothetically saying, ‘hey, if you really like your team, buy these tickets and try to win merchandise with your team’s logo.'”

The fact that the NFL is being hypocritical is not surprising to most fans who have come to accept that the league plays by its own rules. What is best for NFL owners is law, and right now, that means promoting gambling in these tough economic times.

I find the hypocrisy both annoying and bothersome.  If the NFL felt strongly about gambling they wouldn’t have their name and likeness anywhere near lotteries.  Lotteries are the cheapest and easiest way for people to become addicted to gambling.  Some would call it a gateway drug like marijuana.  I’m never surprised by corporate or government double talk, but I don’t have to like it.

Photo: Aio Wallpaper

Sports Betting To The Rescue In Vegas!

The NFL season is under way and always brings dollars into the casinos in Las Vegas.  This year is no different.  As expected sportsbooks were packed on Sunday, but it seems as if people were betting a little more than in recent history.

“We might have found the only thing that is recession proof and that’s the NFL,” said Jay Kornegay. Hilton Sports Book Executive Director Jay Kornegay admits he was surprised to see a packed house.

“I was very surprised this morning when I got in here at 9 o’ clock there was a line 10-15 deep at the minimum $1000 bets,” said Frank Nein.  Nein, a diehard football fan just like the others who showed up Sunday morning, say they wouldn’t miss the start of the season for anything. And betting makes it all that more interesting to watch.

“Las Vegas benefits from the football season including taxi cab drivers, bartenders, restaurants everyone benefits from the NFL,” said Kornegay.  This is the second busiest weekend for sports book following Super bowl Sunday.

No surprises here.  Every guy I know is pumped up with the beginning for the NFL season.  Follow me on twitter to keep up on my NFL and college football picks.

Look At Penny Slots

As I’ve detailed before, I’m a sucker for penny slots.  I like the noise and bright lights.  Call me a simple person.  I know these machines pay out less than higher denomination slot machines, but I can’t help but drop a bill in if I hear a fun sound.  Recently, I swore off these games…kinda.

On a trip earlier this summer I went with a friend that will play just about any penny slot.  I don’t like all penny slots, but it’s easy to get caught up in the fun.  After all, gambling can be an addiction.  After that trip I decided to cut back how much I’ll put into penny (or nickle) slots because I was losing my shirt because they pay out about 90% as opposed to 95-97% for higher denomination slots.

Instead, I’ve put in one smaller bill to explore new games.  On my last trip I found a new fun and loud game at Bally’s called X-Treme Reels.

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It’s a 3 reel slot machine that plays every line imaginable.  If you win the basic game you activate the bonus reels and the X-Treme lights and sounds.

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Reels 4 and 5 are multiplier reels that don’t hit big very often, but they are what make this game fun for me because of the noise and lights.

Much like most low limit slots the excitement wears off after a little while.  My new tactic of playing less games with smaller bills allows me to get bored and move from game to game, which was my original tactic with these games.  I’m going to stick with this “strategy” because I had a really good time playing this way on my last couple of trips.  Penny slots are fun for the relaxing time and the mindless gamble.

Writing up my low limit slot strategy was inspired by “Penny Machines Have Growing Appeal, but also a Price” in the Las Vegas Sun.

ESPN To Broadcast World Series of Poker until 2017

ESPN extended their deal to broadcast the World Series of Poker (WSOP) through 2017.

ESPN has aired the WSOP since 2003. The current contract runs through next year. The new deal begins in 2011. ESPN will pay a rights fee. Terms were not disclosed.

Taped coverage of the World Series airs on ESPN, ESPN2, ESPN Classic, ESPN International and more.

With ratings down slightly this year some may see this extension as a surprise, but poker still has plenty of 18-24 male viewers which is a key demographic for advertisers.  This essentially gives ESPN a stranglehold on the largest poker event on TV until popularity wanes.

I’ve mentioned here that I’ve moved on from watching poker on TV, but I’m not the average person.  I usually adopt before the average person and move on before that same person.  2017 seems like the right time for the guy in Iowa to be tired of poker on TV.