Ever shocked at the huge amounts people gamble?

[luvstp]

If I am responding to the subject line (and I am), then, no, I am not shocked at the huge amounts people gamble.  As an example, we were at Wynn the last week of July when the USA basketball team was there.  I saw Coach K several nights playing the $10 vp progressive that they have.  Frankly, if you look at his yearly salary (something in the $6 mln range or so), he should have been betting even higher.

So no, I'm never shocked at the amounts people gamble.

[lvfritz]

What's really funny is the assumptions we can make about these people.  Now Coach K is an obvious conclusion.....he's a man of means, no big deal.  But if you don't recognize the individual, you can start to pigeon hole them, and end up making up a whole resume for the guy (or gal).  Sounds like a great hidden camera episode......guess the life's work of the individual playing $1K blackjack.

[sarah9nascar]

Years ago when the Horse Race track opened here, I thought that would be a fun summer job. I teach school and needed extra money. I was trained in the sports book at the track. I had major problems keeping my mouth shut at the amount of money people would put on one damn horse. The people training me kept telling me I had to keep my mouth shut and not show any expression as to how much they were betting at a time. It was hard. Well after training, I got sent upstairs to take care of the senior citizens that bet $2 bucks a horse and when they would win $2.14, they put the 14 cents in a different pocket like it was big bucks. Different folks bet differently.

[phil7200]

It was hard. Well after training, I got sent upstairs to take care of the senior citizens that bet $2 bucks a horse and when they would win $2.14, they put the 14 cents in a different pocket like it was big bucks. Different folks bet differently.

Been playing the horses for 45 years and have never seen that breakage at a track. 

[luvstp]

What's really funny is the assumptions we can make about these people.  Now Coach K is an obvious conclusion.....he's a man of means, no big deal.  But if you don't recognize the individual, you can start to pigeon hole them, and end up making up a whole resume for the guy (or gal).  Sounds like a great hidden camera episode......guess the life's work of the individual playing $1K blackjack.

Given the amount of money I see people betting at Wynn, it never even strikes me that it's odd......  I admit, that I wouldn't have even known it was Coach K until I overheard someone say "Hey Coach K......hope you have a good season" or something like that.  When it comes to celebrities, I don't have a clue as I let my People magazine subscription lapse about 10 years ago.

I see many people at Wynn playing the $5 video slots at $100 a push or more.  Maybe I've stayed there too often, but I don't even flinch anymore at these.  Frankly, I wonder at the people I see playing the penny slots for 30 cents a push.  Really?  30 cents a push......maybe you should hold on to that money so you can pay the rent.  Feel free to flame away on that.

Everyone sees things differently.

[RecVPPlayer]

I also want to add that I know that there are people who are not EV chasers but who do know what's what but either just don't care or don't want to be bothered with learning how to possibly lose a lesser amount and then there are those people who have no clue as to how to play to help themselves.

This is the group to whom my comment was geared to.  I definitely don't disagree with those who do know but just don't want to be bothered with learning what's what (especially if they just don't think that it's worth it).

There are many people who just have no idea actually what's what.  Not only do I see them but I also speak to some of them just to let them know that it is possible to lose less or win more by taking a little effort to learn about the probabilities in the game(s) that they are playing as well as where they might end up having a better chance of losing less or winning more.  These people do at times ask me why I'm doing what I am doing and I explain it to them.

RecVPPlayer

[StatFreak]

Okay, the largest (pre-double/split) bet I've made personally is $800, if memory serves. As for witnessing high rollers, I, too, have to bow to the Wynn, where I saw an Asian family playing high stakes baccarat in the middle of the open casino in the middle of the afternoon in the middle of an average week. One man was riffling a stack of about 20 cheques in his hand absentmindedly and when I peeked, they turned out to be $5000 cheques (about $100k). The family was betting between $30k-$50k+ on each hand and had several hundred thousand dollars in cheques in front of them. The table also had $25,000 cheques in the rack.

[jphelan]

Okay, the largest (pre-double/split) bet I've made personally is $800, if memory serves. As for witnessing high rollers, I, too, have to bow to the Wynn, where I saw an Asian family playing high stakes baccarat in the middle of the open casino in the middle of the afternoon in the middle of an average week. One man was riffling a stack of about 20 cheques in his hand absentmindedly and when I peeked, they turned out to be $5000 cheques (about $100k). The family was betting between $30k-$50k+ on each hand and had several hundred thousand dollars in cheques in front of them. The table also had $25,000 cheques in the rack.

I hope they had a happy ending 

[pjstroh]

Im only caught off guard when i see the huge bills fly at the lower end places.    I was playing $5 craps at Palace Station a couple years ago...guy next to me is betting between 100 and 200 a time.

If i was playing with that kind of bankroll i think i would hang out somewhere that has top shelf liquor....and rooms without OJs police tape blocking the entrance.   

[knagl]

On the other hand, PJ, if you play big in a lower-end place, you get treated like royalty.  Play the same amount at a Wynn or Aria and expect to maybe get a room comp.

[StatFreak]

Actually, Palace Station has a lot of players in the $100-$1000/hand range, much more than one would expect. They routinely stock and cash out $500 cheques with no bother or fuss, even at the lower limit tables.

It was fun watching the Asian BJ player at my table play $10 off the top of every new deck, then jump to $500 on the next hands. His bets were all over the place. He lost $8,000 at my table, but the pit said that he was actually still UP over his two (or was it three) day stay. Hard to believe.

[sorensonfan41]

I've never really been....shocked per se.  When I was in Vegas back in April 2011, I sat next to a guy at a Pai Gow Poker table at Caesar's Palace.  I was betting the $25 minimum per hand.  He was betting $500s and $1000s like they were nothing.  He was a nice guy to talk to.....we had some nice conversations during the time he was at the table (and showed off his chips a little bit....showing me what they looked like....the $500 chips (don't remember....think they were purple)....the yellow $1K chips....and a brown $5K chip).  It was certainly an unusual (not in a bad way, though) feeling sitting next to someone gambling large sums of money while I'm just the el cheapo one betting the minimum.

[StatFreak]

Purple (Barney's) is standard for $500, yellow or orange-ish (pumpkins) is standard for $1000 and brown is the most common color for $5k, although colors for denoms over $500 can vary from casino to casino. Cheques over $500 sometimes have a larger diameter, but this is more common for $5k and up.

I've never really been....shocked per se.  When I was in Vegas back in April 2011, I sat next to a guy at a Pai Gow Poker table at Caesar's Palace.  I was betting the $25 minimum per hand.  He was betting $500s and $1000s like they were nothing.  He was a nice guy to talk to.....we had some nice conversations during the time he was at the table (and showed off his chips a little bit....showing me what they looked like....the $500 chips (don't remember....think they were purple)....the yellow $1K chips....and a brown $5K chip).  It was certainly an unusual (not in a bad way, though) feeling sitting next to someone gambling large sums of money while I'm just the el cheapo one betting the minimum.

Too bad he didn't throw you some extra playing money. It's been known to happen.

The first time I ever played at a $25 table was on my ** birthday at Harvey's South Tahoe. They used brass insert cheques at the time and the $500's were a bone pink. (All of their colors were weird. The brass insert and cheque color give away the year range for those who are interested enough to check.)

Anyway, I was playing with one other player who was dressed in a very expensive suit, tailored shirt, expensive cuff links, watch, etc., but who looked like he'd been in a wrestling match with his suit on, lost, and then spent 12 hours in a sauna, also with his suit on. (Interestingly, he wasn't drunk.) He was betting between $300-$500 a hand, two hands at a time and losing his ass, pulling thousands of dollars in hundreds out of pockets I didn't even know he had (money plays, mostly.) A short time after I sat down he started winning and soon had over $8,000-$10,000 in cheques in front of him. I had quietly won about $500 and announced that I was quitting, since I was usually a $2 or $5 bettor and had had my fling.

"You can't leave," he announced. "You're my good luck charm." I declined and he insisted. I finally offered to stay another 20 minutes for $500 and he tossed me a cheque without hesitation. I played out my time at $25 a hand, mostly even, and left. He got what he wanted and so did I. To him it was less than one bet, and he got his mascot and friendly company. To me it was a lot of money and it doubled my winnings that night.

[sorensonfan41]

Too bad he didn't throw you some extra playing money. It's been known to happen.

"You can't leave," he announced. "You're my good luck charm." I declined and he insisted. I finally offered to stay another 20 minutes for $500 and he tossed me a cheque without hesitation. I played out my time at $25 a hand, mostly even, and left. He got what he wanted and so did I. To him it was less than one bet, and he got his mascot and friendly company. To me it was a lot of money and it doubled my winnings that night.

Really?  Wowzers.  Wish I was that lucky.

(...and I thought having people at the Stratosphere start tossing green chips my way wanting to bet on my hand in Pai Gow Poker because I was winning and pushing a bunch was amazing....)

[eurotraveler]

"You can't leave," he announced. "You're my good luck charm." I declined and he insisted. I finally offered to stay another 20 minutes for $500 and he tossed me a cheque without hesitation. I played out my time at $25 a hand, mostly even, and left. He got what he wanted and so did I. To him it was less than one bet, and he got his mascot and friendly company. To me it was a lot of money and it doubled my winnings that night.

Wow!  That was amazing!  Thanks for posting the tale!