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uslvcasinoexec
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1 February 2011 - 5:36am

Devils Advocate on Casino Trying to Dodge Large Payouts

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As a 30 year Las Vegas casino executive I can attest that not only do online casinos try to dodge large casino payouts but that so do Las Vegas casinos !

Contrary to Nevada Gaming Law and Nevada Gaming Control Board 'cash in the cage rules' the Aladdin Hotel and Casino got hit for a $30 million loss at Roulette the second day of their grand re-opening in September of 2000. Not only did the Aladdin not have sufficient cash on hand to pay the winner but the winner had to threaten legal action through the Nevada Gaming Control board to be paid. The Aladdin offered to write a check to the winner three days after the huge win but the winner refused and demanded cash as per his rights --- the Nevada Gaming Control Board was notified by the winners attorney that the Aladdin did not meet the required 'cash on hand' rule but the Aladdin settled by paying the Roulette Genius (as the winner called himself) in cash before the Nevada Gaming Control Board could take action.

auCL-Ed
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1 February 2011 - 10:09am
#1

Great story. I am not surprised the Aladdin didn't have $30m in cash on hand, despite the rules. Who would want that much in cash anyway? I would be paranoid the second I walked out onto the street, even if I was surrounded with hired muscle!

And you know what the key to the story is ... the Nevada Gaming Control Board. The Aladdin paid because of the threat of action being taken by a regulatory authority, The online casinos in Costa Rica or Belize or any other non regulated jurisdiction can do what they like, and there ain't no gaming control board to keep them in line. This is why the U.S. needs online gambling regulated!

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usUsne
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2 February 2011 - 2:40pm
#2

Very interesting story. But what i am more curious about is.....how does someone win 30 million on roulette? Isn't there limits to how much is wagered? At 35 to 1 odds he had to place a whole lot of money to make 30 mil.

Only casino i ever heard that had no limits was Horseshoe Casino downtown Vegas. I love roulette but that's one game that really has the house edge.

I did have a friend that played roulette at a land casino in my home state and she won 18k on roulette. Every number she played popped like crazy. Security actually came up to her and asked her to leave! You know the eye in the sky was watching her close for foul play. Of course she won it fair and square.

I guess that goes to show that even land casinos can give you the bounce if you win too much. Every casino has the right to ask a player to leave the casino for virtually any reason they want and is part of the written rules of the casino. I am very surprised Aladdin's didn't do that.

uslvcasinoexec
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3 February 2011 - 9:55pm
#3

The player got about $1.5 million ahead on the house limit of max $10,000 outside and $5,000 inside. The new Aladdin (it was their grand re-opening) casino manager increased the limits so the player could increase his bets. Of course, the plan was for the player to go broke on the 'increased limit bets' of maximum $100,000 outside and $50,000 inside.
Instead the player started calling the numbers --- he said that he 'saw' the numbers 5-10 seconds before the ball finished spinning and hit the wheel. Other players started following his numbers and the floor man cleared the table of other players so the house could isolate the winning player. The winning player went on a 'freak streak' betting the winning numbers heads up, the 12 number group and the color. His winnings went from $1.5 million to $30 million in less than 45 minutes.
Many people thought that 911 was the breaking point for the new Aladdin. The reality is that the $30 million roulette loss was the financial straw that broke the camels' back. I was one of the casino executives called in to watch the tapes/cameras and see if the player was cheating prior to the casino paying the winner. He worked alone, had no jewelry, no glasses no cell phone --- usually possible hiding places for cheating devices. We changed the dealers and the table was cleared of other players before he went on the 'freak streak' of $28.5 million. The casino manager got greedy and raised the limits when the player was ahead $1.5 million. In hindsight, the CM should have closed the table at $1.5 million win and broken the players streak.
That 'freak streak' win as we call it in the industry was 20 years ago. I have seen the winning player twice since then at the Bellagio and Palazzo and he has won at roulette ($8k+) both times. I talked with him at the Palazzo when he went from the roulette table
cashed out a $8k win and went to the Venetian poker room. He denied being the 'freak streak' winner at the Aladdin in 2000 went to a 1-2 No Limit Holdem game in the Venetian poker room and asked me to leave him alone.
Venetian security told me that he is listed as a possible card marker in the poker room. When I asked security for the tapes of him cheating they replied that the player is not on film cheating but that he was listed as a 'possible card marker ' in the poker room. When I asked security why they had him listed as a 'possible card marker' if he wasn't on tape cheating they said it was because he has had winning streaks of 46 winning sessions in the 1-2, 2-5 and 5-10 No Limit Holdem and that other losing players had complained and wanted him banned from the poker room.
It seems our 'freak streak player' is successful at poker as well as roulette.

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4 February 2011 - 3:40am
#4

Heh, that is a pretty amusing read. I am hoping for the day when I can claim something cool like that...taking $30 million from the casino: sweet.

usUsne
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5 February 2011 - 2:46pm
#5

That is a wildly amazing story. It almost sounds as if the guy was clairvoyant. The fact that he is winning in poker games as well had to really put up a red flag and make you wonder..."did we get duped"? It would be enough for me to want to review those tapes in slowwww motion all over again.

With technology the way it is today and security tighter than Fort Knox at these casinos, it would seem virtually impossible to cheat. Especially playing two entirely different games. But at the same time not entirely impossible. This guy could very well be no ordinary man. Rather a genius at his craft.

After finding out he was placed on a "watch list" at other casinos, what thoughts went through your head? And what conclusions have you came to?

Usne

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