Recently, while updating my first book, The Frugal Gambler, I was struck by how much fun we had back when we first started coming to Las Vegas, playing quarter full-pay deuces wild, and walking all over town chasing down promotions, no matter how small they were. Here is an excerpt from that first book:
In those dizzying early years, I sped around like a whirling dervish, taking advantage of every promotion I could find. I used every coupon that was worth anything at all, entered every drawing, and collected as much free merchandise as the casinos would give me. I’d make a special trip to an outlying casino on a shuttle bus for a free spin on a roulette wheel. I made it a point to play in casinos that awarded extras—logo caps, T-shirts, sweatshirts, jackets, drawing entries, even six packs of soda—when you hit four deuces or four-of-a-kind or a royal.
I dragged Brad all over town to attend all the drawings we’d entered. I scoured casinos looking for discarded funbooks, to the extent (much to Brad’s dismay) of looking in wastebaskets; I only drew the line at digging through half-eaten mustard-laden trash. The importance of promotions doesn’t stop at their cash-making potential, either. Brad has a thing for casino jackets. He has at least 50 logo jackets, six for every outfit he could possibly put together.
Promotions also account for a lot of the fun we have on the casino circuit. I’m going to play video poker anyway, so if the casino wants to give Brad a logo jacket to celebrate my hitting a royal flush, that’s just an easy extra. If I get entries into a drawing for a car by hitting four-of-a-kinds, that’s free action just for doing what I do. That’s why I like promotions: they offer a financial and a psychological lift.
I just read this description to Brad and we discussed whether we had increased our fun when we had accumulated a bigger bankroll and started playing at a higher level. We decided we have had the opportunity to enjoy many more different kinds of fun activities, but everything is relative in gambling – hitting a royal flush top jackpot has always been exciting at whatever level we were playing.
Then Brad quoted something he has said over the years, “It’s only matchsticks.” If that sounds flippant, remember we have never had to make our living expenses by gambling. When we started visiting casinos, we were still working at our regular jobs: I was teaching and Brad was employed in a government civil service position. Once we retired we had a small but comfortable retirement pension. We have never spent our gambling profit on day-to-day routine expenditures. It has just provided us with the ability to help – spoil? – our families and allowed us to save for a more secure and luxurious retirement lifestyle.
Why am I writing about this?
People are more and more asking us how we are coping with the decrease in good gambling opportunities. And we are having to remind them of the title of the last chapter in the first edition of The Frugal Gambler, written so long ago: “Breaking Even is a Terrific Thing.” Back then I wrote:
“So, how did you do?”
That’s the most common question we’re asked after we return home from an extended stay in Las Vegas. Very often, we say that we broke even on the gambling and got all our expenses paid. People tend to turn up their noses and make some remark like, “What’s the point of going?” They expect to hear a dramatic story that involves large sums of money changing hands. Breaking even is about as undramatic as it gets.
But here’s how we figure it. At the end of the year, we’ll have spent up to five months in casino towns. If we stay free most nights, eat free once or twice a day, see a few free shows, play up to eight hours a day, and recoup what we do spend out of pocket, we’ve actually made money by breaking even. We haven’t had to spend any of our own money, so our ordinary income continues to go into the bank and pile up. Anything we don’t spend is the same as winnings, and it’s tax free to boot.
Look at it this way. If someone told you that you could take the kind of vacations that I’ve described in this book and you could do it all for free, would you also insist that you had to make some money while you were at it? Take home a profit from a free trip to paradise? Maybe, but that sounds a little greedy to us. If you spend half the year away from home with no expenses, it means that the other half of the year you have twice as much to spend at home. That’s plenty “dramatic” for us.
Back in March and April of 2015 I did a 4-part series in this blog about the decline of good gambling and how various gamblers were coping. There is no one-size-fits-all solution to this problem and no “right” or “wrong” answers.
We made our first trip to Vegas during a windy March – 31 years ago. It isn’t just the casino world that has changed. We have changed too. We aren’t tourists any more but Vegas residents. Our bodies are not holding up quite as strong as we would like. Our energy levels are low and we seem to enjoy our home recliners more than casino chairs much of the time.
However, we still enjoy the challenge of sparing with the casino, and look for an advantage play wherever we can find it. That has been the fun factor for us for 31 years. But just like in the beginning, breaking even on the game and enjoying the comp “gravy” is still plenty of fun for us.
Jean
I agree that breaking even is a great goal. Obviously, winning is better, but to go on a vacation and spend no “real money” is fantastic. To be honest, every time I go to Vegas, if I break even on the gambling end I feel that I have won. I rarely, if ever, break even on the trip, but to only pay for the hotel room, food,, etc., and spent 12-15 hours a day in the casinos and not lose money (and hopefully win some) is something that I feel good about.
Great article, my husband also has his 31 year “Vegas” anniversary in July.
I think that it is also great that both of you have this pastime in common.
I think that most of the time people always think of Vegas in terms of $$. (Won or lost). Some people love vacation to stay on the beach, I think that the health factors are too great and that’s also why I don’t go to the desert in the summer any more. 117 degrees is a bit much. LOL Vacation should be about enjoying yourself, trying a few new restaurants and sharing it with someone you enjoy going with. Breaking even is always a great thing but it is also the journey along the way.
There’s something that can be ignored, but shouldn’t be: opportunity cost. If you dash across town to redeem $20 in free play, you don’t get $20; you get $20 minus the lost potential value of whatever else you could have done with that time. Similarly, if you take a Vegas vacation rather than going somewhere else because the former is cheap/free, you lose the value to you of that other vacation that you didn’t take. It’s easy to get sucked in when you’re getting a “bargain.”
I gave up on Vegas in 2005, just when the golden era of great promos and good machines was beginning to die out. I realized that the gravitational pull of profitable promos, cheap rooms, free meals, etc. was becoming harder and harder to escape; one day, I canceled a vacation to Hawaii because it would have cost several thousand dollars and a Vegas vacation would have been free. So instead of the beaches of Maui, I got to see the fullpay machines at the El Cortez (again), complete with clouds of pigarette smoke. I won $3000 on that trip, but in reality, I lost much more than that.
Jean,I agree about “breaking even”. I don’t go Vegas anymore(Plane travel is a hassle esp. when you’re 6’1) I go to AC the Golden Nugget, I get free rooms,food etc. and even when I lose I have fun and at 76 that’s what it’s all about!
Always good info, many thanks for your advice through the years
Breaking even is always my goal! Maybe teaching and teaching economics is part of the reason? But I get the thrills with a small cost. My last 2 trips were + $1100 and – $1100. My profit was about $400 in 2015 for 5 trips. About 40 free nights, numerous meals and a few gifts and tee shirts. All this makes me a happy camper! I enjoy your columns.
Jean, your articles always help the “little guy” like me. I see it as a win, every time I come home with my cash still in my purse. I have been able to make 8 day trips to Las Vegas, enjoying shows, good meals, and lots of gambling time on little or no out of pocket cash. I am a very low roller, yet I receive free rooms, free meals, tee shirts, tote bags, free drinks. I have friends who spend thousands of dollars on each vacation while I spend little or no money. I have read your books and eagerly await the updated version of the Frugal Gambler.
Great article and great answer as to why some of us still play the game. Life goes on enjoy it while you can. Thanks again for all you do, and the pleasure you give to so many.
By the way how about the one million dollar slot jackpot at the airport
Jean,
You make some very good points about spending money reasonably and getting a good return on your efforts. I have been asked many times why I spend money on a “free game”, namely myvegas. It seems to me, only reasonable that I help support the game and its partners that I utilize. Case in point: as a VIP player I get 6/30 (6 awards per month) awards with Mlife properties while most get 3/30.
This last week I was offered a myvegas point award for a second 7 night cruise with Royal Caribbean. My first comped cruise with them, was a 7 night December 2015 sailing on the Allure of the seas. Now I leave for an April 9th, 2016 for a, 7 night cruise on the Oasis of the Seas, in two weeks!
So over time,I am sure I spent with myvegas well over $1,000+ but I have got so much more back. The value of the two cruises (with casino drink packages) is well over $6,000. I am sure to play in the casino, so Royal Caribbean’s Club Royale can continue offering these awards.
I am a Diamond, Crown & Anchor Member: thus I value the line and happy that my play (financial support of the game) with myvegas, will hep me move up the next tier level: C&R Diamond Plus.
Your first book was really inspirational for me and the second book, helped take me to the next level. I will leave your readers a good bit of advice: much like with land casinos, if you play and perhaps even loose a bit, there are great future benefits.
With Club Royale the savings on future cruises is substantial and savings with suites & above is phenomenal. The VIP drink card for the casino can save you big $$$$. Your investment can really pay great future dividends as it makes seeing the world, all the more affordable, with luxury included.
So Jean much of your concepts I have done at sea, while your experience was gained, on land. Your right, “to break even on a trip” is a great thing!!
George
Jean, you and Brad have ALWAYS had the right idea when it came to gambling and its related promotions. Being a “gamblin’ granny” I no longer chase around town but, prefer to go to Vagas for an event or promotion I would pay cash to participate. Certainly, I no longer go to Vegas as I did in the past but when I do, I always feel I’ve come out ahead.