Make 5m a year

>make 5m a year
>mostly gambling profits
>mostly video poker

This is the biggest tell of the whole fraud of an investigation.

If it was possible to beat the house in video poker every fucking casino would be bankrupt. It’s may be possible to beat the house with COMPS if you add them to the losses in video poker. The game has a long term return of something like 99.5% with absolutely perfect strategy, which is probably the highest for a machine game.

Where the fuck did he get the money from?

That’s the only relevant question.

If someone tells you it’s from video poker that’s the biggest bullshit ever.

Other urls found in this thread:

youtube.com/watch?v=JcZHSGyos6g
wizardofvegas.com/guides/video-poker-survey/
cnbc.com/2017/10/06/las-vegas-gunman-earned-millions-as-a-gambler-nbc.html
casinonewsdaily.com/video-poker-guide/best-payout-video-poker-games/
twitter.com/SFWRedditVideos

Playing video poker was just a way to launder his arms dealing money.

full pay deuces wild with perfect strategy comes out to about 100.3% payout, still not something you can make a living on.

However, with the minimal house edge even without full pay variants, a great way to launder money.

Whats the max bet size?

on the full pay machines usually only $0.25 a credit, so $1.25 a hand.

So apparently deuces wild returns 100.76% with a 25 can’t max bet.

5,000,000 a year

= 13,700 a day

If the return on 100$ is .76$

He would have to bet

.76/100 = 13700/ x

X = 1,800,000$ a day in betting

Say the max bet size is .25$

He would have to play 7,200,000 hands a day

Impossible

25 cent per credit, so $1.25 max bet. Yes, still impossible to make that much, but a decent way to launder with no to minimal loss.

your assumptions are fucking terrible,

there are plenty of $25 per bet machines in the high roller section of the casino where the max bet is $100 per hand. Using some back of the napkin calcs a 100.75% ROI comes out to $1.08mil per year with perfect play

and $500 per hand poker which I've never seen but wouldn't surprise me if it existed would be 5.4mil per year

doubt they are full pay though, probably 99.5%

Thats for pleb tier machines. Go to the vip area where they consider a credit $5 or $10 and max bet 25 or 50 a hand.

Ok so say 1.25$ per spin

People say they can do 800 an hour
Say 10 hours

8,000 spins * 1.25$ = 10,000$ of wagers * .0076 = 76$ a day * 365 = 27,000$ a year

I’m just wondering now what machines he used to launder the money.

What machine is closest to 100% payout with a large maximum bet?

youtube.com/watch?v=JcZHSGyos6g
Op is correct, its Complete Bullshit. You're literally arguing with a computer chip, and its not one inclined to do you a favor.

They’re not deuces wild you fucking idiot.

Find me a machine with a 100.75 ROI with a 25$ max bet I’ll drive over there tomorrow.

Poker machines earn profits from the fact that most of the players don't know how to play optimally.

They're basically the only type of gambling machine where skill and patience will actually get you somewhere in the end. That's why he played those - he knew what he was doing.

Post machines with positive ROI.

Let’s see the maximum bet size.

No they don’t you idiot.

They make money by being designed not to be beatable.

Are you braindead?

The casino sets the payout.

Right, but I take it further and say almost nobody makes that much money gambling no matter what game they're playing. Even if someone is bringing in around $200,000 a year they are probably well known Vegas, and not a ghost like this guy.

NOTHING has positive ROI
I'm going to the strip tonight for some drinks and to hopefully not get shot. Will take a picture of vip max bet and post it

he was probably just money laundering.
a few ago there was a case here in denmark about gangs using sport betting to launder money. they would get back, about half of what they put down, in clean money.

Apparently deuces wild does.

Refer to this post

deuces is shit, less payout than regular poker. the key is what they pay for two pair.

Our suspect was playing at the Mandalay Bay.

Video poker at Mandalay Bay

99.58% max bet 5$
99.17% max bet 100$

There are no poker machines at the Mandalay Bay that return 100%.

Wasn't jacks or better with the good full house payout the profitable one? Wtf.

I refuse to believe any game played against the house will have a positive ROI. I'd like to see where this data is from other than this:
The only gambling games with a potential positive ROI are games played against other people, not the house.

Nigger you're wrong and there's a whole culture of hustlers looking for the games with weaknesses. Casinos let machines have positive roi because they probably lose trying to play perfectly anyway.

Just like they let you count cards til they realize you're good enough.

There are a couple poker machines with positive ROI but the max credit it .25$ so if you played every day for 10 hours a day you'd make 27,000$ a year.

Refer to this

In Macao they launder money in casinos. And over there they have these junkets that sometimes are in on it.

He was laundering money through the casino

Post the machines then.

We need evidence.

You have no idea what Steve was capable of. He could do anything he wanted...and he did. He was an army of one.

Where the bullets comped too?

poker has no house..

Wtf are you talking about? You want a picture of a machine and from that picture you'll determine what?

Go to a fucking gambling forum and read about it. Fucking baby.

No machines anywhere return higher than 100%

wizardofvegas.com/guides/video-poker-survey/

>playing machines

Why not just give your money away?

fucking video poker does

He used the classic tactic of waiting for a machine to fill up with money. He would monitor machines and then "lock" them and play constantly untill they pay out.
Thats what I read on NYT.

This. His brother sold meth. He didn't make millions as an accountant. He clearly was a gun runner. Operating out of Vegas to run guns to California and laundering his earnings.

...

They don't work that way

WHY WOULD A FUCKING -MACHINE- HAVE A HIGHER THAN 100% PAYOUT?
- gee, i think i'll install 3000 of these, they'll be really popular
ITS RETARDED, AS ARE PEOPLE BELIEVING IN ANY OF THIS ALICE IN WONDERLAND ALPHABET BULLSHIT.

>launder money
One of you criminal geniuses needs to explain how the fuck you think spending money on video poker is somehow 'laundering' money. If you report it as 'winnings' and pay taxes on it, you didn't even need to fucking bet it in the first place to do that, especially with video poker for christs sake which just records credits on a card so there's no way to fake the plus/minus gains.

The way I understand it, 'laundering' money means you're showing the government a way that you came into it legally. If you just spent illegally obtained money on video poker and broke even, this isn't 'earning' shit. Laundering money would be changing a bunch of cash into chips, then going to the cashier window and reporting it as 'winnings' without them aware of how you got the chips (which was just by paying cash for them). Then you pay taxes on that gambling 'income' and it's laundered.

Your video poker shit sounds a lot like how they explained 'laundering' money on the Ozarks, in that they somehow laundered money by just claiming they spent more than they did. Which isn't really how it would work at all to my understanding of it.

>hustlers
you mean losers
It may be true, but I'm not convinced. There's no solid evidence of what the true payout is, I imagine these rates are empirical? If you carried them out to infinity it would be pretty retarded of a Casino to have machine in the negative. However, I could see how in $0.25 credit at a large casino could be over 1x, just to keep people in there gambling.

I've met these types before in Casinos. They'll tell you their strategy. Which one is 'tight or loose'. They'll throw $100 at it, and burn through it in 5-10 min. "Well it this machine is tight" they'll say. They'll have their few glory moments where they win a few grand, but that keeps those suckers coming back. They'll remember their wins and forget about their loses, until they look at their bank account.

Card counting is very different.

Simple

*receive thousands of dollars in tuna rolls
*sell rolls on black market

Not only that. If he was making 5m a year on poker machines every Casino would ban him from the Casino and try to arrest him.

Casino's aren't stupid. No one is making 5m a year on poker machines, period.

You're a fucking moron. And I'll bet you have absolutely no experience with any kind of profitable gambling.

You're the fucking loser trying to act smart anonymously and misinforming everyone around you. Suck a fucking dick you incompetent scrub.

Bingo. Just like they did to Ivey when he beat baccarat

Did you just look up money laundering in the dictionary?
What are you going to do with twenty subscriptions to Vibe?

There's rake so two perfect players would lose money in the long run. As there are plenty of chumps they manage to make a profit from them.

he wasn't making 5 million a year, that is a rounded up estimate of his net worth including real estate assets. You people are fucking stupid

Hol up there

The guy spent over $100,000 on guns and ammo
He was planning to escape, per the authorities But he didn't spend $50 on ear protection and $250 on body armor?

Does this sound like some bullshit?

not to mention they will kick you the fuck out if you beat the house frequently enough to make millions off of video poker. this doesn't jive with Eric saying the casinos loved him and getting COMPED all the time.

Where are people getting he only gambled? Or he only played video poker?

Apparently he would spend 100k in one month on video poker and had 100k credit at the casino.

Classic way to hook video poker junkies. Had a college professor who would put toothpicks in the pay out slot to see if they were filling up.

Casinos cameras watch everything.

They were laughing as he gradually won won lost lost lost for years.

The more you play and win, the more you lose lose lose.

Winning is not losing a third more than you win.

Video machines do not blink or get adrenaline rushes.

It's really depends on the machine. There are a few that are 9/6, which is 1:9 win for straight and 1:6 for full house. But most machines seems to be 9/5, 8/5, or 8/4. I don't know about high roller machines though.

IRS records show that the Las Vegas gunman was a successful gambler, earning millions of dollars annually, according to NBC News. Stephen Paddock earned at least $5 million in 2015, investigators found, mostly from gambling. 1 day ago

cnbc.com/2017/10/06/las-vegas-gunman-earned-millions-as-a-gambler-nbc.html

>Profitable gambling against a computer
I want to laugh but it's kind of sad.

I admit that my understanding of laundering money might be flawed, but I suspect it's better than anyone claiming breaking even at video poker is somehow 'laundering'. And actually I'm pretty sure you could just report a certain amount as 'gambling income' on your taxes without even setting foot in a casino. Though it's possible that reporting gambling income, which nobody ever does I bet, would throw up some IRS red flag.

On that show 'Animal Kingdom' they launder money by having apartments they claim they're getting rent for that they leave empty and one of em has a bar that he just claims higher profit than what he actually gets each month. Those methods at least make logical sense.

what if the real twist to the story was he was COMP'D $5m in sushi? possibly selling COMP'D sushi on the side without the IRS knowing

you answered your own question. He was doing that, but enjoyed video poker is my guess.

Well not really.
If you follow how much other players have lost on a particualr machine you will know what percentage payout it has to have.
So you will collecting from other players.
The machine will always have its percentage.

Do you know what randomness is?

breh, it's not sad. he's got a "system" that works for him, bro he's fuckin loaded from winning with his gambling system. he's figured it out

Something a machine is incapable of?

Basically money laundering is taking money that was acquired and making a paper trail for where it came from so no one asks questions. Casinos have been used for this forever as its a cash business without firm transaction logs. So it looks like he was an awesome gambler.

No such thing in a video poker machine.
They arent programed that way.
Comercial video pokers have percentage setting that owners set.

>figure out how to beat poker machines with defective RNG's
>make 5m a year
>casino's don't jail you or ban you
>get comped thousands of dollars of sushi and flights to japan because you keep beating the houses machines

How dumb as you?

he's probably a taco bell employee

Well now I actually believe he WAS laundering money. Just by claiming it as such on his taxes.
How in the flying fuck do you not get IRS audited by just saying 'lol I earned 5 mil gambling' which is apparently what he did. Meanwhile Tony Soprano is dicking around with sporting goods stores and shit like that.

So to sum up
>claimed 5 million in 'income' from gambling on taxes
>somehow not known among the Vegas high stakes crowd (which has to be pretty fucking small)
>comped by casinos, which they do to people who LOSE A LOT because they WANT them to stay there.
Story doesn't add up.

Fucking poker plebes...

casinonewsdaily.com/video-poker-guide/best-payout-video-poker-games/

Excerpt:

>Some players find it hard to believe that there are casino games with an average return that exceeds 100%. As weird as this may sound, it is true – some video poker variants boast a potential return of 100,2% or above, which is a great deal for the players. To find these variants, players need to look for games with odds of 10/7/5. The Full House should pay 10 times the amount you’ve wagered, the Flush should pay 7 to 1 and the Straight hand’s payout is required to be 5 to1.

The thing is, you have to play perfectly. The fact that you can make a profit is the draw. However, if you do make too much money, the casino will simply ban you.

this is the official thread for 17 and under faggots.

*Holds up spork*

Something to do with TeH PeNgUiN of DoOm, I believe

The article just says he made money gambling. That could mean betting, not just playing slots or even poker. If you've got enough money you can make an income on betting exchanges - it's closer really to stock trading or being a bookmaker but it could go down as gambling.

Successful gamblers do so by making bets on markets they see as having value which is to say markets the bookies have made mistakes on.

Dude, he read about how rngs aren't perfect so obviously he can predict them for profit. OBVIOUSLY.

Oh fuck me that's a blast from the past

Former VegasAnon here.
The house doesn't lose. Period. Anyone that makes a living gambling like that would be very, very well known. The moment he set foot in any casio, every camera would be following his every move, and likely be shadowed by security on the floor. Professional gamblers make their money in tournaments or at tables, not on machines.

>a potential return
need any help with that word in the middle there, or, you still busy combing Nevada 24/7s searching for these mythical beasts that pay more than they take?

you don't get audited if you report your winnings. when you win more than $500 in a year, the casino sends you a 1099G for tax purposes.

Imagine how old and busted she must be now.

WTF?
So he plays video poker for 25 years and wins, but isnt thrown out of the casinos?

Someone is lying here.

I have the feeling she's a prominent sjw now.

If you believe the house is giving you better than 30% odds ON A SLOT MACHINE you are smoking crack. Slot machines have the WORST ODDS of all games in Vegas.

There is no way to cheat the system and there's no way to beat a slot machine. The only way to cheat is to get inside the machine and corrupt the system somehow. Good luck trying that on a 500 dollar a pull machine. They will break your fucking skull.

Where did you get these magical numbers from? The manufacturer? The casino? You're seriously fucking stupid if you think you have a higher than 50% chance of winning any game in Vegas.

Slot machines have horrible payouts. Oh course they are lying.

Not slot. Video poker.

I've won a couple thousand bucks before at a casino, they didn't send me shit. Of course I probably lost more than that later, but how the hell would they even know? When I cashed out on the 'winning' night they didn't ask for any ID, they have no idea who I was. When I lose they have no idea of that either.

OK it's possible video poker machines have better payouts. But it still slot machine. Call it whatever you want it's s fucking slot machine. The wins are PREDETERMINED and are not given unless a very specific set of circumstances are met. I'm assuming video poker odds are almost as bad as a regular slot machine. There is no game in Vegas or never slot machine in Vegas that is designed to pay more than it takes in.

Most of them are 70-90% payout but that just means if you put an infinite amount of money in, you'd get 70-90% of the money back (although you'd be getting an infinite amount back in that example).

The trouble is that when they have $10,000 jackpots you could put in $20,000 and not get anything out and the next chump puts $1 and wins the jackpot.

Play them for fun and walk away if you have a win.

The video poker ,achines that pay 100.17% have a max bet of 5$ you idiot.

A video poker machine would have to produce cards randomly. The only way to fix the payout is with the odds for winning hands (the true odds can be calculated of course).

It may be that the payout is slightly above 100% but that counts on perfect play and anyone who can play that well would make more money playing poker against actual people.

Yeah but it’s already proven that the Mandalay Bay’s highest poker payout is 99.58%.

That’s where he was staying and comped so we know he wasn’t beating any machines.

cuz it is. he was never planning to get out alive

You don't know what your talking about. No slot machines or bingo machines are random in Vegas. Also, video poker is NOT regular poker. There is NO skill in video poker, zero. Your bet is predetermined before you get any cards and there is no way to bet more. Also you are not playing against anyone. You are simply played by hand rank
>Straight pays 8x your bet
>Fullhouse pays 22x your bet etc

I doubt it's above 88% but thanks for linking me a source though.

There is actually an optimum strategy in video poker. You have to choose which hands to hold and fold. But still it doesn’t explain the situation,

The slots that pay out 100.76% playing 10 hours a day, every day, you make 27,000$ a year before comps.

I did the calculation here.
That’s the max you can make on Vegas Poker Machines.

NO ONE is making 5m a year in the casino on machines.

Last time I went to Vegas I dumped a shitload of money into my checking account (60k) and pulled a marker out at the casino (Stratosphere). Gamble a little and they will give you tons of free shit until they figure out your not going to actually gamble. They definitely get pissed, and it's a one time free shit deal.

99.5% is actually pretty bad.

People can do 800 spins an hour in video poker.

If you start with 100$ and play 1$ spins you lose .05$ a spin which means about 40$ an hour.

At 99.5% the average time to go broke is 2.5 hours.

What did they comp you?

Pulled a marker out?