Copy of letter sent to multiple casinos

[Eliot]

The big player in Jacobson's story had won 10s of millions of dollars,
are you insisting that the casino stopped comping his stays,
and had him pay his own way to come lose it all back??

This did not take place at a US casino, it was in Asia. As I recall, the player got in total about an additional 125M in cash comps (paid in non-negotiable chips). The comps were never taken away. Also, the player had his own private parking spot, his own private high limit lounge that was permanently reserved for him 24/7 with a live dealer and staff, should he show up. And to answer KJ's query, this player played several times per month over his winning streak, trips often lasting days. He must have played well over 1000 shoes. And, when you figured it all out, he was only 2.8 SD above expectation, not at all unreasonable. The chances of that result or better are 0.0026 or about 1-in-385. If a $100 player did the same, no one would have thought twice. Casinos have thousands of players each day, so they should expect dozens of 2.8SD (or better) players. His max bet, I believe, was about $125,000, but it may have been more. This same player had a similar result at a neighboring casino, though not quite as extreme (I think up about $100M). But, fortunately, both casinos let him play and even a player who is lucky enough to be 2.8 SD ahead will eventually be a loser.

So yes, this winning loser became a losing loser.

People on both sides, AP's and non-AP's, are getting a lot of stuff wrong in these threads.



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