Million Dollar Video Poker (Gambling Theories Methods) [Paperback]

Bob Dancer (Author)

Book Description

Series: Gambling Theories Methods | Publication Date: March 1, 2003

Bob Dancer is the best known video poker player and writer in the world. In just six years, after coming to Las Vegas with a $6,000 bankroll, Dancer won more than $1 million playing beatable machines. "Million Dollar Video Poker" recounts the events of those six years, with stories about his meteoric ups and downs, and lessons for players of all skill levels. Video poker is one of those rare casino games that can be beaten by a talented and informed player, and Dancer explains how it's done. Never before has a top video poker professional shared so many of his winning secrets.

Editorial Reviews

About the Author

Bob Dancer is the world's foremost video poker expert. A regular columnist for Casino Player, Strictly Slots, and the Las Vegas Review-Journal, tens of thousands of casino enthusiasts look to Bob Dancer for advice about playing their favorite gambling game. His Video Poker Strategy Cards, Winners Guides, videos, and software are the best-selling video poker tutorials of all time--making Bob Dancer the most sought after source of video poker advice in the country. When he's not chasing jackpots, Bob can be found teaching video poker strategy to standing-room-only crowds in casinos around the country.

Product Details

• Paperback: 262 pages
• Publisher: Huntington Press (March 1, 2003)
• Language: English
• ISBN-10: 0929712110
• ISBN-13: 978-0929712116
• Product Dimensions: 8.5 x 6.1 x 0.6 inches
• Shipping Weight: 9.6 ounces (View shipping rates and policies)
• Average Customer Review: 3.6 out of 5 stars  See all reviews (20 customer reviews)
• Amazon Best Sellers Rank: #125,530 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

29 of 32 people found the following review helpful:

4.0 out of 5 stars Excellent biography; not an instruction manual, May 27, 2003

By 

JC Chupack (Gurnee, IL United States) - See all my reviews
(VINE VOICE)    (TOP 1000 REVIEWER)    (REAL NAME)   

This review is from: Million Dollar Video Poker (Gambling Theories Methods) (Paperback)

Bob Dancer's Million Dollar Video Poker is an excellent description of the life and goals of a successful advantage video poker player. I'm considering giving it to some of my relatives to help them understand the lifestyle, risks, and possible gains of playing beatable VP machines.

However, if you're looking for a book that describes how to beat the VP machines (strategies, etc.), this isn't going to help you out very much. You'd be better off reading Bob Dancer's Winners Guides, which he's gradually publishing for each VP game. While Dancer includes some tips and information in Million Dollar Video Poker, he basically only says as much as he needs to in order to tell his story to someone who might not know anything about video poker.

14 of 16 people found the following review helpful:

3.0 out of 5 stars If you're learning to play not the book for you, May 8, 2004

By A Customer

This review is from: Million Dollar Video Poker (Gambling Theories Methods) (Paperback)

I thought this was going to be a tutorial. It was more of the story of a professional gambler and how he got lucky. It was an interesting read if you can get through the narcissitic "I'm the greatest parts"

6 of 6 people found the following review helpful:

2.0 out of 5 stars How big money was extracted from the casinos, March 26, 2008

By 

Dan Paymar "Author" (New Mexico) - See all my reviews
(REAL NAME)   

This review is from: Million Dollar Video Poker (Gambling Theories Methods) (Paperback)

This is not a book on playing strategy. It's more an autobiographical account of how the author extracted over a million dollars from the casinos. Many of his tactics are described in great detail. The really amazing thing is that anyone would be so candid about his personal life and the things he's done, and how he rationalizes doing things that many people might consider unethical, immoral or perhaps even illegal. One sentence on page 170 is especially revealing: "I'd had a lot of people work with me, get mad at me, and want nothing more to do with me." He seems to delight in being disliked.
There are many good recommendations, such as learning a game thoroughly before playing it and continuing to practice on a trainer program so that your skills don't deteriorate. I especially liked the section titled "The care and feeding of slot hosts." Flattery and gifts (bribes) will get you over a lot of hurdles.
On the very first page of the text, Bob shows his disdain for less than perfect players. Consider a Jacks or Better hand containing a suited J-10, an off-suit King, and two low cards, one of which may or may not be a flush penalty card. The "best" play when there is no penalty card is the J-10 (highest EV by 0.01). I could go into a mathematical analysis discussing how infrequent such a decision occurs, and how frequently there is a penalty card, thus making the K-J the best play in the vast majority of cases, but Bob would come back with dozens of other trivial situations. Therefore, I'll simply point out that several respected analysts have shown that a penalty-card-free strategy comes much closer than 0.01% off of perfect play, and even my easy-to-follow Precision Play rules come within 0.01% of the game EV. That's less than one dollar (a cheap cup of coffee) on $10,000 action, not just on the example type of hand, but the total for all penalty card situations. That may be important for the 50 or so truly professional players (Bob's estimate), but the rest of us would probably lose more expected gain through playing errors and reduced playing speed when trying to follow perfect strategy.
In spite of Bob's insistence upon perfection in playing strategy, he says he never uses a mathematical risk of ruin calculation. He uses the "3-to-5 royals rule" instead. For example, for a game with a $1000 royal, he is happy with a $3000 to $5000 bankroll. On Deuces Wild that figures to a modest 7.4% to 21% risk of ruin, but on Double Bonus Poker (one of Bob's favorite games), it's 61% to 74%. Most serious players would feel that he is often playing way over his bankroll. A few pages later he says, "...I learned that one pro had lost $80,000 on the [$5 15/10] Loose Deuces play at the Frontier. Wow! I had no idea that a loss of this magnitude was possible." A quick run with the Sorokin formula reveals a 39.5% probability of losing an $80,000 bankroll on that game. $80,000 is four royals. So much for the "3-to-5 royals rule." I might risk a few hundred dollars with a 40% risk of ruin, but not $80,000.
To be fair, however, we must acknowledge that Bob doesn't play where his advantage is only about 0.1% on the game itself. Slot club rebates, comps and promotions add a lot to the expected value, with a corresponding reduction in risk of ruin. Still, I would want to estimate the total value to me of such amenities and incorporate that into a mathematical risk of ruin calculation.
As he has done so often in the past, Bob goes out of his way to criticize others' work, and the facts be damned. On page 41, he says, "I'd picked up Dan Paymar's 8th edition of Video Poker Precision Play. His Jacks or Better strategy was an eye opener. It was considerably more complex than Wong's, but, as I learned as I went along, full of mistakes. Still, it gave me added insight. In a footnote in one of Paymar's appendices, he'd written that you should hold a suited high card-10 over two unsuited high cards unless there was another card suited with the high card-10."
That's apparently his best example that my strategy is "full of mistakes," but the error is entirely his. The footnote in question can be none other than note "m" on page 57. Quoting verbatim from that edition, "`Honor-10 suited' means A-10, K-10, Q-10 or J-10 of the same suit. Don't hold a suited 10 with an ace if the jackpot is less than 940-for-1, and don't hold a 10 with any honor if any discard is the same suit or a straight card." Nothing at all is said of two unsuited high cards in this note, but in the hand rank table to which it refers, "Two honors (unsuited)" is just above "K-10, Q-10, J-10 suited." How does Bob interpret this to say that a suited high card-10 should be held over two unsuited high cards? Moreover, his error was pointed out to him when he wrote the same thing several years ago.
On page 125 he says, "... Jokers Wild is an extremely difficult game to play.... Paymar's [strategy] was probably the best and I estimate it generated a return that was still at least .25% less than perfect." Actually, unless you're trying to be as perfect as Bob, Joker Wild is much easier to learn than Double Bonus, and an independent expert has determined that my hand rank table comes within 0.02% of perfect. Bob's "estimate" was off by more than an order of magnitude.
On page 175 Bob says, "Today, Dan Paymar's Video Poker Optimum Play... is currently the best book on how to play video poker on the market." Thanks for the compliment, Bob. It's too bad you were unable to resist the temptation to say that it's full of errors. You wrote a long harangue (your word) on those "errors" several years ago, and I showed that altogether they added up to less than 0.01% of the total game EV. Jazbo Burns confirmed that, using his proprietary strategy analysis software.
It's a minor point, but many places in the book Bob refers to a payoff as, for example, 800 to 1. I'm surprised that Anthony Curtis didn't edit this to the mathematically correct 800-for-1 (the "1" is not returned with the payoff). The difference is small on a royal flush (but still large if you view small errors as Bob does), but on a pair of jacks there's a 100% difference between 1-for-1 (returning your bet, which is just a push) and 1-to-1 (a real win of an amount equal to your bet, as on a winning craps pass bet).
In summary, Million Dollar Video Poker is a very important book for anyone considering doing business with Bob, as it gives great insight into his ethics and morals. It is also important for anyone intent on becoming a professional gambler, no matter whether your game of choice is video poker, blackjack or anything else. Perhaps the most important lesson is that Bob spent several years learning how to take advantage of every potential opportunity, during which he made far less than he could have earned in a regular job in spite of admittedly stealing from the casinos (page 88). If you are not up to the task, the book will hopefully dissuade you from the attempt.
By far the most valuable part of the book is the final chapter, "Winning is a Process, Not an Event." These four pages give the best advice I've ever read for a wannabe professional gambler. If you buy the book, do it for this section.
The goal of making big money playing video poker boils down to a lot of hard work that would likely have yielded even greater rewards in a productive endeavor. And it's getting even harder as the casinos learn to structure promotions to be less vulnerable to pros.
On page 210 Bob says that Deuces Wild is much more fun than Jacks or Better. I consider it very significant that this is the only time in the book where he says anything about video poker being fun. But don't despair; you can still have fun playing video poker as a skilled recreational player and supplement your income without all that work if you start with the strategy book that Bob recommends.