The cheapest way to bring money to a casino

Hi, John,

I get your newsletter and I have a question for you. Just which casinos did Harrah's purchase in Tunica, Mississippi?

We knew they bought Jack Binion's Horseshoe but we were also told by a Harrah's employee that they also bought The Grand. I find this hard to believe.

We carry players cards for Harrah's and we were just wondering just which casinos in Tunica have the Harrah's connection.

Love your column . . . and I LOVED your answer on just exactly how to beat a slot machine . . . WITH A HAMMER. I am still laughing over that one.

Thanks again for a great newsletter.

Donna

Dear Donna,

Thanks for the kind words about my column.

There has been an incredible consolidation in gaming-related companies in the past five or so years.

Harrah's Entertainment merged with Harrah's Entertainment on June 13, 2005. Caesars Entertainment, which used to be called Park Place Entertainment, was itself a merger of Caesars World, Hilton gaming, Bally's and Grand Casinos.

So, here's a complete list of Harrah's casinos in Tunica: Horseshoe, Grand Casino and Sheraton.

Best of luck in and out of the casinos,
John

I'm going to play at a casino in Blackhawk, and I just wanted to know which casinos slots are hitting more often. Is there a way to find this out?

Curious in Colorado

Dear Curious,

Some casinos publish lists of machines that were "hot" the prior day or week.

This information is nothing more than trivia. As every mutual fund warns in its prospectus, past performance is no guarantee of future performance.

The fact that a machine has been hitting in the past, tells you nothing about what it will do in the future. The result of each spin is determined at random, without regard for what has happened in the past.

Best of luck in and out of the casinos,
John

Hi, John,

I really enjoy your column. Thank you!!

I'm extremely frustrated with Charles Town Races & Slots. I enjoy playing the slots but just hate there. They have the hardest machines to win on. Each time I go (used to be a couple times a week since January - now I go once a month) I drop about $1,200 with hardly any payback — total loss. When hubby and I go to Vegas (at the older casinos) we do great but he refuses to go to Charles Town any more . . . and I am quickly agreeing!! We live in Virginia and the closest casino to us is Charles Town, West Virginia (1.25 hours away).

Any advice? Or do as my husband does — stay away!!

Thank you!

Warmly,
Wanda

Dear Wanda,

It's not unusual for gamblers to have prolonged losing streaks. Even those who have the edge over the casino (card counters, dice controllers, etc.) can have a long series of losing sessions. You might be in one of these bad-luck streaks at that racino.

You say that you enjoy playing those slots but hate Charles Town Races. I would say then that you hate playing slots there. There's no sense giving the action that you give and not have a good time doing it.

You can write your host, if you have one, or the slot director there and let him or her know of your frustration. They may send you a special offer to get you to try them once again.

Otherwise, the bottom line is if you don't have a good time playing there, I agree with your husband. Save your money to play at a casino where you do have a good time.

Best of luck in and out of the casinos,
John

Besides travelers checks, is there a cheaper way to bring money to Vegas? Travelers checks cost $1.50 per $100. I know personal checks are not easy to cash, but what about money orders, which cost $0.46 per $1,000?

You can use money orders — they should be just as easy to cash as a travelers check — but I think the cheapest way to bring money to Las Vegas is to not bring money to Las Vegas.

I think the best way to have money to gamble with is to have a line of credit at a casino. It's very easy to open a line of credit. You need to have a checking account at a bank. The casino will check with your bank to ensure that your usual balance is sufficient to cover the amount of credit you're seeking. Once your line is established, you can take out markers at the tables or the cage to access your line. You may be expected to settle your line at the end of your trip with a personal check or the casino may send you a statement.

Avoid getting cash advances on credit cards. They may provide easy money, but the fees are high and the interest most cards charge on cash advances used to be called usurious.

Best of luck in and out of the casinos,
John

Don't know if this would help the fellow who asked about how long to stay on a non-winning machine, but here it is.

Thanks to TITO (ticket-in, ticket-out) technology, this is what I use to minimize losses and maximize my wins.

I (for example) put in $20. I play it down to $15 and cash out, or I play it up to $25 or more and cash out. When my bankroll is gone (cash), I can cash out the tickets and go back to the machines or go back and try again.

It doesn't make any difference if you stay on the same machine or not; you still have some loss control.

The last time I did this, I ended up with $2,800 in wins over a 26-day period. The period before I ended up with $600 in losses.

It's not perfect but it keeps me in my bankroll and I don't lose it all at once.

Thanks for sharing your method. It illustrates two very important points about money management.

First, money management will not make you a consistent winner. No money management technique can turn a negative expectation game into a positive expectation game.

Second, the goal of money management is to try to ensure that your bankroll lasts as long as your desire to play.

Best of luck in and out of the casinos,
John

Send your slot and video poker questions to John Robison, Slot Expert, at slotexpert@comcast.net. Because of the volume of mail I receive, I regret that I can't send a reply to every question. Also be advised that it may take several months for your question to appear in my column.