Before we get going, let me just say that I consider Steve a colleague - a true icon in every sense of the word. Sure he’s insanely rich. He’s immensely successful. He is a captain of industry. What makes him an icon, however, is his humility and pragmatism. What makes him an icon is his innovation. What makes him an icon is his worthiness as an adversary. For as much as I respect Steve Wynn, believe that when I step foot off the plane at McCarran Airport, I have one goal: “to make Steve Wynn my bitch tonight”.
The following is a part of the Iconic Skill Set - Income Generation
Card Counting – It’s not just for Rainman!
ICON SAFETY TIP:
There are a couple of nonnegotiable truths that need to be communicated and that you must accept. No deviations. This is how it is. If you don’t want to invest the time to become an icon at the blackjack table, please go play craps, roulette, or some type of mind-numbing slot game. Dimwits will probably have more fun with these options. The goals of an icon are to have fun, make some decent coin, possibly bang a hot chick, and show Daddy Wynn how we roll.
ICONIC TRUTH 1: Blackjack is one of three games that are beatable in Las Vegas casinos. The other two are Baccarat and Poker. Any other games (i.e. craps, roulette, slots, Pai Gow Poker, etc) are not winnable consistently. I know you think you have a “system”. It is only good fortune that you haven’t been bankrupted by the Wynn, MGM, Bellagio, a riverboat, etc. You might as well play carnie games.
ICONIC TRUTH 2: This is not a get rich quick method. Your goal is to transform yourself into a player that can consistently play well. This will influence your results on the aggregate (overall). You WILL have short term losses, periodically. I am not hedging, but to think that you will go into the casino and administer a royal beat down on a Las Vegas casino for $80G’s like in the movie “The Hangover” is a pipe dream. You WILL have huge gains SOME nights. You WILL win consistently long term. But, make sure you are playing at a level you can afford to sustain for a lengthy period of time. I like to sit at the table with at least 50 betting units. This means if I am playing a $10 game, I need $500. The “betting unit” in this case is $10. This sounds like an excessive bankroll for such a small game, but when you read this full posting, you will understand that $10 is a minimum. Throughout the game you will be playing for much more. There is no way to ELIMINATE risk, but in Blackjack, you can minimize it. The house’s advantage in Blackjack is much lower than it is in other games. By playing well, you can reduce the odds to almost even. Finally, by card counting, you can actually turn this small house advantage into a small advantage for the icon! Think a small advantage isn’t profitable? Look around the Vegas Strip. See all those mega resorts? They were all built with small, consistent advantages over the average player. Essentially, if you develop these skills, you become the house…try gaining that advantage over a Wheel of Fortune slot machine….yeah, I know: “It’s due, Grandma!” “WHEEL…OF…FORTUNE” – sucker.
ICONIC TRUTH 3: You have to play “Basic Strategy” flawlessly. I am not going to get into why Basic Strategy is important. There are numerous books on the subject, pick one up (I’d suggest “Beat the Dealer” by Edward O. Thorp). The FACT is that in order to have any success long term, you HAVE TO PLAY BASIC STRATEGY FLAWLESSLY. Basic strategy needs to be memorized. It’s second nature.
WHO’S YOUR DADDY, MR. WYNN?
BASIC CARD COUNTING:
TRUTH 4: More high cards left in the deck are better for the player than more low cards. More low cards left in the deck are better for Steve Wynn and the House (think about being dealt fifteen or watching the dealer draw out 14 cards to make 21…bastard!). The player will win more consistently (as a matter of statistical fact) when the remaining decks have a greater number of high cards than low cards. (If you would like to know the mathematics behind this, go look it up).
When the deck is shuffled and placed in the shoe, you begin your count at 0.
Each time the dealer pulls a card from the shoe, you need to inconspicuously assign a “score” to each card dealt and tally up all the cards played (remember if they suspect you of this, they will not be happy).
Player 2: 10 – 5
Player 3: 4 -4
Dealer: 10 – 10
Now, keep the count throughout the entire shoe.
As hands go by, you will be able to make an assessment of the cards left in the deck. You should be able to label the deck hot, cold, or neutral. For instance, if after a few hands your running count is 12, the deck could be labeled hot. Why? More low cards have come out of the shoe than high cards. This bodes well for you in future hands. You are more likely to win with the “hot” deck with an inordinate amount of 10’s and Aces. If after a few hands the running count is at -8, you know that a significant number of high cards have now been played – relative to low cards. The deck is cold. Future hands are statistically more likely to favor Steve Wynn. If the count after a few hands is 0, the deck is no colder nor hotter than it was when it was first shuffled. The odds of winning are relatively close to losing future hands if you are playing perfect basic strategy.
Great! Now you know how to count cards. Yeah! Oh, that doesn’t help much does it? Simply counting the cards and keeping track of when the deck is hot does nothing for your bankroll!
YOU ARE A GOD…TAKE WHAT’S RIGHTFULLY YOURS!
You now need to know how to play God with the blackjack market. Let me help you…because I like you.
We said before that if we knew the market was going to rise, we would get more money in. How much more should we put in? It should be relative to how good the market is, right? What if we took our true count and multiplied by the average bet that we are playing at the table? This average bet is our “betting unit”. For instance, if we calculate our true count is 2 and we have an average starting bet of $10, the next hand, we should bet $20. If we were playing a minimum bet of $25, we would now bet $50, and so on. When the deck is cold, or running at a negative “true count” or even at a neutral count we would drop our next bet to our minimum betting unit. This way we are betting high when the deck is favorable and low when the deck is less favorable. We are engaging in a kind of insider trading scheme. We get more money in the market before the good times hit (a proportionally relative amount) / we pull back our investment just before the Blackjack market sucks. Look at you! You’re like a Wall Street super trader! Now slap a high five to the dweeb from Albuquerque, pass your room key to the Hooters girl next to you, shrug your shoulders and tell them how lucky you are, and walk on, Player…walk on!
TRUTH 5: Practice this method or you will feel like a retard at the table. This is an effective and simple way to card count. It is simple to understand. It is not simple to implement. You need to practice. When you’re at the casino, there will be numerous distractions. You must be able to maintain the count while carrying on a conversation, acting nonchalant, playing with perfect basic strategy, trying to get a peek down the hot chick’s blouse in the seat next to you, tuning out the yelling and buzzing and bells and whistles on the floor, making conversation with the dweeb from Albuquerque, and having a good time. Alcohol will make you slow. Plus one minus one is difficult when the cards are moving fast. This plus one/minus one counting method must be second nature. Bottom line: practice, practice, practice…before you get to Vegas!