My Journey on Video Poker

[DAAnMAAn]

WSOP in full swing with colossus weekend.
Must be 30,000 poker players in Vegas this weekend. How many play vp it's hard to guess. Noticed in a video that the rio put a long line of vp machines right in the direction of signup for events. What the payables are in them I don't know, but guessing not full pay tables. If anyone knows what these pay tables are, put it out in a post and let me know. Not sure when I'll get some time to pound buttons, but hopefully soon. Machine owes me a few quad
Deuces.
Cheers
~D

[DAAnMAAn]

I was going to play some fpdw last night after work but had a splitting headache. Work was loud and packed. Tried some practice $10 nsud on my video poker app and hit the deuces for $10 grand. I'd be happy right now with a $250 hit in quarter play right lol hopefully this Sunday which is tomorrow I can get away and play a little bit. Whenever I hit the Royal, I'm definitely going to take a pot shot at something big, nice, and fat. Yap.
Cheers
~D

[DAAnMAAn]

***thoughts on mellinial generation, skill-base games, and the decline of slots and video poker***
I just heard a podcast from vegasfanboy, a young mellinial who talks about Vegas from a low-roller perspective. In this particular podcast, he talks about the mellinial crises. The fact that most mellinials don't like casinos, don't go to casinos, want value for their money, value a good bang for their buck. He goes on to mention casinos failed attempts to allure this generation by offering skill-base games, whereas typically the ER (expected return) is usually around 88-90% payback until a skill type mode is available in which the ER shoots up to 98-99% ER for the time of that mode. For pinball skill-based proposal (which author likes pinball) same base ER of around 88% until skill-mode whereas a skilled world class pinball player (how many of us are world class)? Can play upwards of 115% ER for that timed mode.
The problem is most mellinials already have access to games on their consoles or mobile unit so the proposal of putting in a $100 dollars in a machine and having it last,
Say, 20 minutes, or a year long membership in various gaming clubs and venues is really no choice at all.
He concluded with saying casino executives have no clue because they are asking non-mellinials what mellinials want to get their butts in casinos playing, but not asking mellinials themeselves. (Probably because they don't like the answers or the truth).
In sum, he says mellinials don't like to feel like they have been had (true for all of us) and the tightening of machines contribute to the continual decline of butts in seats.
Amen vegasfanboy.
Authors two-cents.
It' may take a generation or two for the casinos brains to straighten out and get it right. Currently and in the past, say, 20 years, they have the mindset of get as much as we can, as fast as we can, from the gamblers (customers). Although in the short term this may be a successful attempt to gain more profits, in the long term, it's doomed to fail. And in the last couple of years we are seeing this play out to the casino executives chagrin.
The boom of poker and mellinials flocking to it is no accident. They know they get a good value for their dollar, no house advantage, and free drinks while they get to compete with other people and are in a social setting.
The truth is, looser slots and video poker will bring in more people and mellinials, make more drop, make more money long term (and short, not every video poker player is a pro playing 1k hands an hour perfect, each mistake brings down ER significantly); while tighter slots and video poker will eventually empty the pockets of the last remaining players and inevitably produce a ghost town.
Seems common sense but try to convince a slot director that 9/6 jacks (99.54% ER) with a progressive Royal will make more money then an 8/5 jacks or better (97.2%ER). Good luck with that. Which is why it may take a generation or two to get it right.
Now obviously putting in a $1 full pay deuces game, or $5, or $10 is not a profitable move for a casino due to the pros taking over those machines, playing fast and accurately, and collecting thei $40 plus per hour on those machines. However, having one machine with a $1 full pay deuces may make a nice promo for the place.
But why not put in near 100% video poker with progressives that eventually will make them juicy, still a good game which will eventually be great games. And everyone wins? 8/5 bonus with a 1% meter?
In conclusions, the new generation is smarter and have access to more information and are better informed. As the fist of casinos tighten their grip on the ER's of machines, the more players will slip thru their
Fingers until there is nobody left to squeeze. The smart ones who wake up, put in looser pay tables many with progressives that at least have players (even the lower skilled which is the majority of players) think they got the edge, probably starting with smaller casinos, will realize a success with more people in the casino, more money spent on game and amenities, and positive word of mouth advertising, which is the best.
That's my two cents.
Cheers

[FloridaPhil]

Well written.  I think the lack of gambling interest from millennials is deeper than bad pay tables.  Baby boomers grew up in a long period of prosperity and optimism.  They gambled in life and it paid off.  Back in the day anyone could get a good paying factory job or learn a skill through apprenticeship.   People bought Chevrolets and Fords, had new washing machines and retired with decent pensions.  Millennials have lived through the decline of the American middle class and generally have a negative view of spending money for entertainment.  They download free music, play free video poker games and watch TV on the Internet.  The idea of gambling $100 an hour for fun is out of the question.  When you're struggling to get out of your parent's garage or saving up for a new set of tires, it's hard to understand how that can be enjoyable.  In addition, our society has convinced young people that it's a good idea to go deeply in debt to obtain a college diploma.   The path to the American dream is not necessarily through a college, it's through entrepreneurship.  Obviously not all young people are broke, but the mind set is there none-the-less.

[notes1]

good subject, my two cents.

I have been posting over and over that the entertainment value of going to a casino has lost value, over the past few years. we all know this.

younger folks being smarter, I don't think so, I could rattle off a list of poor spending/debt decisions they have made. are the boomers smarter, heck no, their spending/debt was a large factor in how we got into the financial situation we are in. but, both groups are greatly reducing or avoiding going to casinos, that makes them smart consumers.

older folks are still going to casinos, simply because they have the money to do so and the younger folks do not. older folks are generally in poorer health than younger folks, they have less options available. for many, going on a 10 mile bike ride or hike is out of the question. just travelling can be difficult.

the problems at casinos are many. but, I believe their biggest problem is much of the playing public may develop a mindset that they are poor value and if that sets it, it will be hard to change. no different than when Detroit got a reputation that their cars could not match with foreign models, it takes a long time to convince people otherwise.

[billryan]

These millennial are the people who are packing the nightclubs in Vegas, and who caused the casinos to convert pools into dayclubs.
They have no problem paying $25 covers to get into a spot and buying $500 bottles while there.
Do not underestimate the spending power they have. They simply spend their money different. They engage in paid fantasy sports at a much higher rate than previous generations and choose not to play table games with people old enough to be their grandparents.
They don't gamble as much as older generations because they understand the odds suck.

[notes1]

their spending power comes from delayed marriage, delayed children and delayed/avoid home purchases. they are afraid and uncertain what the future holds. many do not want to commit. they were raised in a time where money was freely spent/borrowed, little was denied, many never held a job of any kind and some were spoiled. they were promised a college degree, no matter the cost, was the answer to everything. it is not all their fault, their parents are equally responsible. now, they are in the real world, and if are used to getting everything you want, one is not prepared for adversity . this is not the case with every young person.

many boomers are in bad financial shape, their answer is to work longer. this is added to the problem for young getting jobs that pay.       


not sure they know the odds suck, because they are too young to know what it was like before. what they do know, just like their older counterparts is that they are not getting the value for the money spent. they can walk the main drag in vegas for free, buy a couple of over priced drinks, go downtown and get free music for a lot less than banging on a slot machine for a couple of hours.

it seems to me that casinos were always more popular for older folks, in that regards nothing has changed.

[FloridaPhil]

[quote=notes1]many boomers are in bad financial shape, their answer is to work longer.
this is added to the problem for young getting jobs that pay.[/quote]Many boomers who are still working are doing so because they like having something productive to do with their lives, not because they can't afford to buy groceries.  If you enjoy your work, it's not something you want to give up just because you reach a certain age.  Workers with 40-50 years of experience are not easily replaced.  Thank God they don't all decide to quit on the same day.  

[billryan]

Yet many are working because they have to. Many members of my family worked for what was simply called the phone company. They retired with the promises of lifetime pensions and healthcare. While the pensions are still there, healthcare got worse and worse until it's now pretty much non-existent. My cousin John took early retirement to attend law school. It didn't work out and he got divorced. His wife gets half the pension and his half barely covers the health insurance he has to keep on his kids, per the divorce agreement.

[FloridaPhil]

It's sad to hear stories like that.  Baby boomers lived during the most economically advantageous time in American history.  It is possible we may never see times like that again.