With all the talk about Paddock making a living from Vegas gambling...

With all the talk about Paddock making a living from Vegas gambling, I wanted to ask any Anons here: Is that possible in this day and age? Have any of you here ever made a living in the gambling circuit? Are there still loopholes or good odds that the casinos still overlook?

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Casino fag here. For table games- card counting I guess if you're not a retard about it. Poker (it's considered a card game in Nevada, not a table game)- just sit and shark up some promos. Sit at the table and get far enough in whatever cash game or tournament they're running and get to the final few hands and offer to chop or split the pot. Slots are the tricky one as they're all programmed with a payout percentage that the house picks. Just pray to whatever god you habeeb or not in and hope the machine you play had some retard install the amounts backwards- so it pays out 90% instead of 10%.

Though with skill based gaming approaching ever closer- I am sure some of you autistic fucks can game that.

I'll answer whatever casino questions you fags have.

Learn to play poker.

It's the only game in casino that you can play without a built in house edge.

That said to make a decent win rate requires a lot of hard work and dedication.

The amount of time and energy it would be required to be successful long term would be better utilized into a career.

Also: always go for slot machines that feature progressives. By NV regulations the increment percentage has to be removed from the house hold.

the only profitable game i know is poker (not video poker, which usually has horrible odds) and if paddock was able to make millions playing poker his name would have been known in the community yet nobody has mentioned him.

I know someone who had no job for three years. He made all his money by betting horse races.

I won kinda a lot of money and they make you fill out a 1099 at the casino and take about a 1/3 of your winnings. I thought that was it until I did my taxes and my preparer said I had to also claim the money as income. I had to pay almost $6000 in taxes where I normally don't owe or receive money back and had to pay a fine. I was pissed.

>to also claim the money as income. I had to pay almost $6000 in taxes where I normally don't owe or receive money back and had to pay a fine. I was piss

A 1099 only applies to "gifted" (do not require a wager to be eligible for) of up to $600. These are tracked for the year and filed with the gov.

If you won a jackpot- it is taxed at different rates depending on the game. If you won at a slot machine, it would be $1,200.

If they had you fill out a 1099, you did not win kind of a lot of money, sir.

If you're murkan they would have w2G'd you for the winnings and -offered- to take the taxes out for you at a 25% rate, not one third.

If the house takes withholding, then they are liable for that- if you decline it, you're liable.

Gamble in Canada. Better tax laws regarding gambling winnings.

Paddock is insignificant. Look at the big picture.

I wonder if the statement "He made millions playing video poker" is really accurate in the first place.

Can you win at video poker? Is it fundamentally different from playing poker against other people (which I understand is definitely beatable)?

you cant make any decent money off of pokerstars without a big bankroll and a solid knowledge base of the game.

you especially cant hope to turn it into a career unless you start out rich and can afford to spend a million or so hands learning.

>"but then how come theres all those pros that make millions"
a. half of them are just bankrupt personas that get staked by others and try to build brands out of their own retarded personalities
b. the ones that are actually good play millions of hands and started out when poker was new and retarded americans could still play online, thus it was much more profitable back in the day than it is now
c. you have no clue just how much variance there is in poker and how much it affects the outcome, your performance and your psyche, for ever "pro" theres also a good player who got fucked because of variance. in other words just being good isnt enough, you also have to be "lucky", by lucky i mean on the correct side of variance.

i play poker and have made money off of mtts but my bankroll has been stagnant for over a year now, doesnt go up doesnt go down.

heres what poker pro dan coleman had to say after winning 15 million in a tournament a few years ago:

>First off, I don’t owe poker a single thing. I’ve been fortunate enough to benefit financially from this game, but I have played it long enough to see the ugly side of this world. It is not a game where the pros are always happy and living a fulfilling life. To have a job where you are at the mercy of variance can be insanely stressful and can lead to a lot of unhealthy habits. I would never in a million years recommend for someone to try and make it as a poker pro.

>It is also not a game where the amateurs are always happy to be losing their money for the sake of entertainment. The losers lose way more money at this game than winners are winning. A lot of this is money they can’t afford to lose. This is fine of course because if someone is dumb enough to gamble with money they cant afford to lose, that’s their problem. I’m not really buying that though. In a perfect world, markets are based on informed consumers making rational transactions. In reality, sadly, that’s not the case. Markets are based on advertising trying to play on peoples impulses and targeting their weaknesses in order for them to make irrational decisions. I get it if someone wants to go and play poker on their own free will, but I don’t agree with gambling being advertised just like I don’t agree with cigarettes and alcohol being advertised.

That's what you get for getting all uppity and making more money without first consulting the crown.

He only got millions because he put millions in. I have the ability to look at how much these people wager for their "big payouts" - they always put in way more than they receive.

Poker and the sports book are the only way you can conceivably have an expected win rate.

All of the other games the house has the edge. Due to the nature of jackpots, there will be individuals who will come out ahead even playing the worst possible games (slots).

>It bothers me that people care so much about poker’s well-being. As poker is a game that has such a net negative effect on the people playing it. Both financially and emotionally.

>As for promoting myself, I feel that individual achievements should rarely be celebrated. I am not going to take part in it for others and I wouldn’t want it for myself. If you wonder why our society is so infatuated by individuals and their success, and being a baller, it is not that way for no reason. It is there because it serves a clear purpose.

>If you get people to look up to someone and adhere to the “gain wealth, forget all but self” motto, then you can get them to ignore the social contract which is very good for power systems. Also it serves as a means of distraction to get people to not pay attention to the things that do matter.

>These are just my personal views. And yes, I realize I am conflicted. I capitalize off this game that targets peoples weaknesses. I do enjoy it, I love the strategy part of it, but I do see it as a very dark game.

For slots you just have to make friends with the casino employees and they’ll tell you which ones pay out. It works better in the tribal casinos than in Vegas though

He was laundering money faggot. Laundering CIA money in CIA connected casinos.

Tribal casinos I could see as they have different regulations depending on state.

In Vegas you'll never see the people who truly know the odds.

Your run of the mill employee will not know the payout percentages.

also I should add

online poker is now infested with bots that have logic programmed into them from AI or bots that collude at tables to give themselves an edge

the owners of these sites dont really care since they just make money on the rake, a while ago a poker player himself got fed up and investigated, providing irrefutable proof that these bots were making millions on pokerstars

they use the excuse that they cant reveal the methods they use to catch bots, but any fucking random decent poker player can go and figure it out if htey have a big enough database of hands

you can deduct your loosings btw.

They see which ones hit jackpots a lot though, it’s not rocket science

what does that mean you degenerate

it most certainly is false, unless he somehow found super highstakes video poker and ran super lucky over a session or two

or he figured out some flaw in the software, thats happened too

I heard of some math autist who could predict the outcome of a roulette spin by using a counter for the number of revolutions for the ball and the roulette. He bought a roulette table just to tune it and then he got kicked out of the casino after winning a few times in a row.

have hit jackpots, not about to hit jackpots.

You'd need a slot game programmer to give insight of the algorithms of jackpot payouts.

That’s a movie user.

What is with you aussies and vegas?

its not that hard if you aren't scared of losing a bit, the biggest mistakes most players make is A:bluffing you are basically throwing money away if you're playing anyone with 2 braincells they can clang together and
B: if you have a decent hand, fucking go for it. If you are sitting on an ace high boat, go all in if someone tries to raise you.

I once lost something around $3500 going in on a ace high flush, didn't even feel bad about it because you could deal me that hand a million times, and i would go all every fucking time. With texas holdem you have to be way more cautious, but 5 card draw with big hands go big and you will make money.

Also, dont fuck around with professional players, vegas draws in a million morons everyday to gamble, play with them not with the sharks.

He was clearly laundering illegal money in the casinos. This is literally the whole basis of Macau casinos in China. They just move money from mainland there. It's a huge business, and they do lose money to casino, but it's cheaper than other options. After they bet the round of their money, they move it from Macau. I'm pretty sure in Vegas people who need clean money do the same thing. He happened to be the guy who also shot up the place, and drew attention to wtf is happening in casinos. There was a case a few years ago where some Mexican drug dealer was laundering money in Las Vegas Sands casino and got caught, but he got caught because of a criminal investigation into him.

Lets do a math. So the machine has a house hold percentage of 10%. The progressive (super special random hit bonus) increase rate is 3%- then the machine must be changed to only have a hold of 7%. The 3% is not money the house is allowed to claim.

Reference to that? Online has a few years left at least imo, also I have regularly had cash rebates from bot users and colluders.

Most guys can't handle the swings on poker.

Or better yet, avoid the slots like the plague. Dont gamble unless you can interact with the variables.

Are there casinos that even run 5 card draw anymore? I've never seen it anywhere I"ve ever been.

Or when skill based games hit the scene.

Imagine playing guitar hero for money.

>American education


engadget.com/2013/09/18/edward-thorp-father-of-wearable-computing/

This is why it works at the tribal casinos, a lot of them are kind of lazy about changing their algorithms so you can chase good machines longer

>skill based gaming

Poker is a skill game, and it becomes worthwhile for casinos to run because of the random nature of it.

video poker is basically a slot machine that makes poker hands

not a skill game

t. Reno resident. Sad middle aged bitches who smoke gamble on them in gas stations

Yes, we have gambling in the gas stations. And everywhere else. I fuckin love this place

No. I've lived there for the past 5 years and have met many friends who move here because they think they'll make it as a poker player, only have to move back into their parents.

So that means it isnt possible? Lol

you just gotta ask around a bit, hopefully holdem is a fad that will die out, i personally hate that game. The only time ill play it is when there's lots of guys wanting to play at work. Its good for the fact that you can have a dozen guys playing and still not run out of cards, but i'd rather play 5 stud 7 stud or draw when real money is involved.

what that its infested with bots?

i havent bothered ot look up the latest accounts that have been caught but they are out there making money for sure

>also I have regularly had cash rebates from bot users and colluders.

so then why would you require evidence that there are bots and colluders? you are literally getting your money back from the % that they do catch.

so it really just comes down to what % are they catching, i guarantee you

a. its not 100%
b. as soon as a bot gets banned the software just gets loaded up on a new account that isnt banned

Even though there is more attainable edge in nlhe?

The only way to make cash money is....luck. However if you spend 100k gambling and break even, you can earn 30k in comps which in turn only cost the casino 6k.

I can respect that, and see it being viable.

fox5vegas.com/story/30157427/next-generation-gaming-on-display-at-vegas-g2e

Poker is hated by casinos- it's a money pit from the house perspective, but decent for the player.

roulette, going off of % gains, that and craps, but i dont have any idea how to play. I stick to what Im good at.

Go on...

Poker is the only game you can make a living from. You can be an advantage blackjack player (card counter) but the casinos will ban you from playing BJ if you win too much. With exceptional discipline and sports knowledge you can be a pro sports bettor, but there are very few people who can consistently beat the spread and make money

Bro, do you even get comped?

Obviously a reference to the poker player investigating. We all know bots exist, some people overstate and some people understate the problem, I'm still winning 4bb/100 @25nl so it doesnt bother me too much.

never green text again plz leaf

...

There are some 100% payback video poker machines out there, but very few. You would have to get incredibly lucky to make millions playing video poker. Odds just aren't in your favor at that scale

lol, I know where some are.

>Laundering
This. He wasnt making money. He was good at not losing much, and was happy with a small cut and comped sushi.

They say paddock played jacks or better video poker. I was playing the other day and I couldn't help but think "what would ole Steve do here?"

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they are all connected. its mostly plo

the bot ring would collude by sharing mucked cards and thus adjusting their post flop %'s by knowing which cards could no longer come, they were playing suboptimally assuming they did not have that information and exactly optimally assuming they knew which cards were mucked. its more effective in omaha for obvious reasons.

holdems problems are far more likely to be playing against AI that has perfect gto play.

its good that you still make money, i could never make anything at cash, only mtts.

i wish someone could teach me cash, every time i make 20 buyins i lose 20 buyins right after. its one big fucking rollercoaster that goes nowhere but keeps printing rake for stars. so is stopped it all together

I'm under the impression any high-end casino won't tolerate someone consistently taking loads of cash from them. I seriously doubt a casino would give someone thousands of dollars worth of free sushi and rooms to keep taking millions of dollars from them. I think they would have kicked him out if he really made a lot of money from them. How right am I?

Oh I remember that. It is true though sites cant disclose their detection methods, it would be questionable if they did.

Those Antarctic Nazis are gonna be some bad motherfuckers, imagine what it has taken to survive that cold for the past 72 years.

This LA Times article describes how he won big one time in 2007.

archive.is/bFxJ6

He took advantage of some sort of special occasion it sounds like.

I think some of you are right. He more might've broken even-ish and got the comps out of this. He probably made his real money from real estate as has been reported. And I suppose he was able to get into real estate from saving money and developing credit when he was an accountant. He sounds like a math guy, and a disciplined guy.

>This. He wasnt making money. He was good at not losing much, and was happy with a small cut and comped sushi.

Hated Taco Bell. Always called it Taco Hell.

Define loads, please. We may have different definitions.

>nlhe
there's several reasons i hate it, for one, everyone plays that shit on their cellphone, so your opponents WILL be well versed in the game guaranteed. The main sticking point however is how many times you have to fold just to make a profit. I enjoy card games, i like figuring the odds and betting accordingly, i dont like folding every fucking hand that doesnt come up:suits, facecard pairs, or an ace+face.

Easy answer? Look around Vegas. All that bad ass architecture and insane decor... someone is paying for that. You.

not buying that, if you have methods that can detect a bot to the extent that it is no longer profitable to use that software, then it makes no difference whether the methods are public or not.

also, you would htink a million (billion?) dollar company like stars would have been wise enough to simply look at post flop aggression factor % outliers.

it was super fucken simple to detect and they didnt do it, im not buying that they didnt know how.

poker

there's ways to get 100+ EV on video poker. you have to utilize the promotions, bonuses, and COMPS. they have made it very hard to do so and you pretty much have to have money in the first place for the status to be able to participate in said promotions and bonuses.

I know people who can make some money off black jack. But the casinos keep track of who comes and goes and how they play, and if you win too much or too often, you'll get banned for "obvious card counting".

If you want to be a pro gambler these days, you play poker. House doesn't give a shit, it gets its cut no matter who wins it all.

Pro players mostly make their money fleecing less experienced pros, wantabee pros, and marks (people that think they can play poker). Mostly its online these days, making poker much easier, since there's no need for facial control, body control, body language, etc. In person pros usually fleece the hell out of online guys that show up to play in a tournament in person cause the online guy isn't any good at hiding his tells. Takes practice for most people.

Everything else is just tossing your money to the house via a ceremony of roulette or pulling the one armed bandit, etc.

its true, playing a profitable range means folding so much that you ahve ot compensate by playing many tables at once, which is impossible live.

live poker can be really fuckign boring, sitting for hours doing nothing 90% of the time

They don’t call it the idiot tax for nothin’

cash is ez bro

if you're not studying your opponents when you're folding, the game isn't for you. though, you are good for my game.

Say $100k a year, or enough to live on comfortably.

post receipts faggot

lols as if a fucking hud isnt studying your opponents 99999999999999999999 times better than you ever could hope to.

also theres nothing to study about tanking, you can literally pay attention 1 second out of every 30 and not miss any action

Go get a job, user

Given the payout percentages of games, that individual would be feeding a lot more money than they were getting.

On the strip- the majority of the income comes from their entertainment, food and beverage, instead of gambling. One individual winning 100k a year? No big deal. Comp him some sushi.

>play CASH
>thinks i get a receipt for playing in illegal underground games

playing live you should be studying your opponents when you fold. online you shouldn't have enough time to study because of multiple tables. i use pt3, too.

youtube.com/watch?v=2jHDSF7uES0

Don't be this woman.

Perhaps it is easy. In my opinion the amount of time spent becoming a skilled enough player to get a decent win rate would be better served applying yourself towards a better career. Be it college trades internships etc.

The most common game for poker in casinos outside of Vegas is 1/2nl.

If you get a good table that's moving fast you can see 33 hands per hour approximately. That would equate to a win rate of 18bb/100 just to match a mcjob wage.

Go head over to twoplustwo forums and ask the pros how easy it is to attain an 18bb/100 winrate.

lol he would go through 100k easily in a session. he had large swings in the millions year over year. more likely the casinos took him out than any other theory

Lol you should go to Vegas. You would run that shit in a few days

House only needs a small% to always make money. There's a reason that roulette has two green spots but only pays out 1:36 when you win. That's just above the minimum cut the house needs to always make money over the long term.

competitive poker in 2017 is tough. Everyone is too good now.

Imagine 100k as a single chip. Playing 2mil a hand is not outside the realm of possibility in Vegas.

Think bigger, user.

Real estate

I guess that's just what I don't understand, most likely because I'm not at the level Steve was at.

>casino fag here

>no mention of craps, the greatest table game out there

No thanks, your opinion is null and void.

you dont even have to be too good, just good enough that it becomes a game of variance. you can go bankrupt getting all your money in with 55% to 45% equity faster than you can realise that +ev. thats why you need such a huge bankroll. like 1000 buyins for fuck sake

even then its fucken crushing on your psyche knowing that you can still lose a lot of money and then have to grind it all back

Someone who is not me used to launder money through gambling.

In most casinos, offline and online, you have a good chance of earning back what you put in, basically turning ill-gotten gains in to legitimate money. SWIM used profits off of illicit substance sales routed off to Neteller as a nestegg for online casinos and then took out the money at around the 75% of the original capital to let the casino get their share and in return get legit money on to their account.

I consider Paddock earning a ton at casinos to be suspicious as hell, because that shit just doesn't happen with any regularity, but him putting up illicit cash, circulating it in the casino and then withdrawing it after breaking about even seems like a surefire way to get it done.

The fact you can lose money when playing your best is what makes poker lucrative.

Few people will ever be on Steve's level.

lol You are correct, user. I am afraid I do not know enough about dice to really make an opinion. I do know it is one of the hardest games for a dealer due to the complexity of the bets and how many roles are required.

Poker player here. If you have a good job do not do it. Just play recreationally. The lifestyle does suck and I have been saving and investing so I can stop.

I've gambled at casinos about 6 times in my life, and I've walked away with total winnings of about $6k+, so it's possible. The only games I play are single deck blackjack ,craps, and texas hold-em..

I do not envy you waiting at tables all day promo leeching.

I hope you are able to stop living that life soon and get to start your next chapter.

Online is tough on the big sites. There are three provinces in Canada that have online poker ran by the gaming commissions that run the provinces casinos.

Playnow poker. It is soft. However Small playerbase. I play regularly at peak casual times. The pros there eat me if I try to grind but the peak times full of casuals can be profitable bumhunting grounds.

I don't play for a living but I make some extra scratch on 10nl and 30nl as well as a small MTT winrate.

This is how he gained his edge.