RE: [vpFREE] Re: LVRJ: Ruling raises questions about laws concerning advantage gamblers

redtoppicker wrote: . . . She
had to know going there was wrong...However, the casino should not have invited
her either IMHO



I'm friendly with both Laurie and her husband John.
Other than what she and Bob Nersesian said on my radio show in separate
interviews and what I read in the paper, I have no inside information on this
particular situation.



That said, there are a lot of misconceptions by posters
in this thread. I'm using a particular quote from redtoppicker to begin my
argument but I'm really responding to several posts.



1. Casinos
are not monolithic entities where one person is making all the decision. There
are dozens or hundreds of decision makers at Caesars and other large casinos. There
is no person or database that knows everything there is to know about any
particular player --- let alone all of them. This isn't because the decision
makers are lazy or incompetent (although sometimes this happens as well) it's
because they have tens of thousands of customers who each make multiple trips
over an extended period of time. Sometimes (as is the case here) multiple
players use multiple names at different times and the casino may or may not
have properly linked all of the names to the same person. There is no "hole
card camera" like on TV poker games. In the real world you often don't know for
sure what the other side knows. This creates certain inefficiencies which
players can exploit.



2. Every
time an advantage player goes in to collect on an offer, there's a chance he
will not be allowed to play. It's sort of a cost benefit analysis that the
player does. Laurie likely "got away" with this type of thing 20 times
previously where she collected on an offer after previously being barred. (If you think she's been barred from casinos 200 times, you're almost
certainly on the low side.) This time she didn't collect on the offer. Nobody
here found anything wrong with her doing it the previous 20 times because she
was successful then and they never heard about it. They are only criticizing
her now because this is the time she got busted and it made the papers.



3. Sometimes
if you do get busted, the casino does it illegally and there is a big six-figure
settlement afterwards. This can make being willing to get busted a type of advantage
strategy. From what's in the paper, it doesn't seem like a big settlement is in
the cards in this particular case, but we don't have enough information to know for sure. And perhaps Nersesian still has a rabbit he can put out of a hat. And when she went into the casino on that particular day,
Laurie couldn't know that she would be busted or that when she would be busted
the casino would do so properly.



4. In
every advantage play, sometimes you win, sometimes you lose. If you've
calculated correctly, your net wins are bigger than your net losses. People who
come by and gloat at your losses and tell you what you should have done
differently generally don't have a clue about the winning process. They don't know how many millions of dollars you have collected by doing exactly the same thing that didn't work this time. These
gloaters are merely using after-the-fact information to decide what should have
been done before-the-fact. That's easy do and completely worthless. Making the right decision BEFORE you know what the results are separates the successful ones from the not-so-successful ones.



Bob





















[Non-text portions of this message have been removed]



------------------------------------

vpFREE Links: http://www.west-point.org/users/usma1955/20228/V/Links.htm

Yahoo! Groups Links

<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/vpFREE/

<*> Your email settings:
Individual Email | Traditional

<*> To change settings online go to:
http://groups.yahoo.com/group/vpFREE/join
(Yahoo! ID required)

<*> To change settings via email:
vpFREE-digest@yahoogroups.com
vpFREE-fullfeatured@yahoogroups.com

<*> To unsubscribe from this group, send an email to:
vpFREE-unsubscribe@yahoogroups.com

<*> Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/