To those who have made significant money with VP: What do you do?

[Waiting4RF]

What good are investments if you don't have any money to invest?

[Eduardo]

My favorite VP book is “baglady to billionaire in florida playing single coin with mostly correct strategy” by Nobody Ever.

[dw44]

I don't think your particular preoccupations have anything to do with what the original poster was asking, which was about the kinds of +EV video poker plays. I do not see any mention of kids from the ghetto, getting rich, inheritance, etc.

I was responding to your post.

Quote by DW44 "This notion that video poker pros all come from wealthy families is really bonkers."

Do you know any successful professional VP players who started out poor who live a "nice lifestyle" from VP? What good are +EV video poker plays if you don't have money to play?

Your second question could be asked of any form of gambling, investing, or entrepreneurial activity. Do you harangue Warren Buffet with the fact that he started with seed money from friends and family?

Your first question is an example of overly-mobile goalposts.

[FloridaPhil]

I was in the computer industry from the beginning. I had friends and associates who made millions in those early days. Many were engineers like myself, just getting by. Opportunities opened up and they took advantage of them.

This is exactly what happened in the book "Million Dollar Video Poker". Obviously the hero of this book had some financial help. Could he have made the money he did without it, who knows? I am not minimizing what this person did. The original poster of this thread is asking about today's VP, not 20 years ago.

Today's VP opportunities are not in any way the same as back in the year 2000. At one time you could play 9/6 jacks everywhere. Slowly the odds dropped until the games became unplayable from a profit standpoint. For sure you may find one every now and then. You will also find your comps cut if that's all you play. The Mohegan Sun is a good example. At that casino you have the choice of comps or better odds. A player who reads that book and goes to his local casino expecting to find the same opportunities, will be in for a surprise. If he ignores the odds and plays like the author, he will go bankrupt.

These stories are fun to read. I can't imagine what a thrill it was to hit those royals the night of the ESPY awards. Unfortunately, those opportunities are history. Very few of today's VP games are profitable for a few days much less long enough to pay your mortgage. If you want to make money like that playing VP today, you need to find a "Flux Capacitor".

[onemoretry]

Obviously the hero of this book had some financial help.

I'm not so sure that this statement is correct. I seem recall that I've read several accounts of his early career that strongly suggest otherwise.

[billryan]

You are not sure if something Phil said is correct? Really?

[FloridaPhil]

I'm not so sure that this statement is correct. I seem recall that I've read several accounts of his early career that strongly suggest otherwise.

Million Dollar Video Poker describes how he turned a stake of $6,000 into $1 million in seven years playing the same Las Vegas games that are available to everyone. Anyone who has ever played the game will tell you somewhere along the line he had to have financial backing. This could have come from family members or associates. The book actually discusses this. Does it matter? I don't think so.

What the person who started this post asked was "To those who have made significant money with VP: What do you do?" I assume he asked the question because he wants to duplicate those results. My point is VP has changed since then. Casinos recognized the holes in their game and adjusted the odds and comps to offset the player advantage. On rare occasion, a progressive will turn positive or a player may win a drawing for a cruise or a car for their wife. The idea that any profitable modern casino would consistently allow someone live a "nice lifestyle" off their games without politely asking him to play somewhere else, is not reasonable. If a professional player is allowed to do this, the casino wants them to so they can tell everyone about it and they write it off as testimonial advertising. Is this wrong? No, it's good for business.

[Bobbi]

Was a time when we were treated as royalty in vegas - then one day - not so much. Made me feel like a beggar. Went from welcome baskets in the comped rooms to "your play hasn't earned anything". I guess because the payoffs changed we weren't playing as long as the good old days and they started to look down on video poker players. I play for enjoyment and don't expect to get rich. Play mostly local now - Two of us can go through $1,000 to $1,500 on a bad day. Some good days can make up for the bad ones "sometimes". Not looking for comps as much as enjoyment. Not sure there is such a thing as "long term positive" results.

[FloridaPhil]

Was a time when we were treated as royalty in vegas - then one day - not so much. Made me feel like a beggar. Went from welcome baskets in the comped rooms to "your play hasn't earned anything". I guess because the payoffs changed we weren't playing as long as the good old days and they started to look down on video poker players. I play for enjoyment and don't expect to get rich. Play mostly local now - Two of us can go through $1,000 to $1,500 on a bad day. Some good days can make up for the bad ones "sometimes". Not looking for comps as much as enjoyment. Not sure there is such a thing as "long term positive" results.

Today's VP is about getting the most entertainment for your dollar. I'm sure profit still exists if you make VP your business, but you need more than playing the games.

Instead of creating more losers, we should be honest with people and tell them the VP profit train has left the station. The few people who made a lot of money when it was here, are to be congratulated. Another train may be arriving. An example is sports betting. I am sure it will create millionaires just like VP did 20 years ago. A few people will figure it out and the rest will pay their bills.

[Tedlark]

Phil you say that "we should be honest with people and tell them the VP profit train has left the station." Who is this "we" that you are referring to and why would "we" tell this to "people"?

I'm curious as to what would comprise the CV of a "we" ? Do you, in all honesty, think you are qualified to be a "we"?