Steve Wynn Lost $10 Million on Baccarat

https://www.yahoo.com/news/m/dd74974a-dc1c-367a-8bcc-fda4c3f8082b/ss_how-casino-mogul-steve-wynn.html

It would be nice to have a separate Sub-section for Baccarat.

What's the average bet size to be considered a whale?

Do any casinos still have big table baccarat where the players can deal the cards?

More accurately, Wynn corp lost $10 million to junket players in Macau.

This "phenomenon" needs closer inspection. I wonder how many standard deviations from the norm are needed to produce this result? Were the cards pre-shuffled, or did they all have purple backs?

Probably those cheap American cards!

Quote: gamerfreak

What's the average bet size to be considered a whale?

I think it depends on the casino, but a rule of thumb I read was a bankroll of $50,000-$100,000 is high roller (maybe even $25,000 or less for smaller casinos), and more than that starts getting into whale territory. So, like a bankroll of $200,000 into the millions would be a whale.

Then you have terms like low-roller and mid-roller that us poor people use to feel better about ourselves.

I was under the impression that to be considered a whale you have a bankroll of at least 1 million (these days maybe more like 5 million), and there are very few people in the world playing at that level.

Quote: Ace

I was under the impression that to be considered a whale you have a bankroll of at least 1 million (these days maybe more like 5 million), and there are very few people in the world playing at that level.

I've heard from a casino exec that there are fewer than 300 "whales" in the whole world. Not sure what their definition is...

I used to watch Watanabe play $90K-180K/spin at Roulette in Caesars Palace (maybe 2007). He had post-it-noted packs of $100s, and would peel off $100s & too them in the air for tips. Obvious show-off. (Years later someone - I think - said Caesars made the post-it-noted packs).

I think he ended up losing $250-280 million (about 60% of his net worth)...but have forgotten the exact number The internet memes on him all quote each other, and have the total number really messed up. Some of the websites have a number lower than the losses to Harrahs alone (in the lawsuits).

In February 2016, $101 million was stolen from a Bangladesh Bank in a cyber-heist possibly tied to North Korea.
Most of the money was quickly laundered in Manila casinos, where according to the Philippine Senate investigation, Chau Cheok Wa of Sun City Group received 903 million pesos ($18 million) of the stolen money. Philippines

Baccarat Binge

Sun City Group is the same junket operator whose clients won more than $10 million at Wynn Resorts in Macau four months ago.

The capture, care, flensing and deboning of casino whales is well documented in the book about Steve Cyr: "Whale Hunt in the Desert: Secrets of a Vegas Superhost," by Deke Castleman.

A bit dated, but still a good read.

Quote: MrV

The capture, care, flensing and deboning of casino whales is well documented in the book about Steve Cyr: "Whale Hunt in the Desert: Secrets of a Vegas Superhost," by Deke Castleman.

A bit dated, but still a good read.

That's on my shelf but I haven't read it yet. Just like most of the books I own.

Quote: gamerfreak

That's on my shelf but I haven't read it yet. Just like most of the books I own.

What books would you advice from those that you have already read?

SMART MONEY by Michael Konik.

https://wizardofvegas.com/articles/the-smart-book-review/

it's fast-paced and full of both intrigue and mystery (in parts), like you said, 'A real page turner.' Recommended reading for absolutely anyone, regardless of whether or not said anyone has ever even gambled.

http://www.nytimes.com/2006/12/10/books/review/Veale.t.html

Its all based on your 'theoretical' play. Look it up and you will find tons of info on it. The casinos what to know that someone is willing to play and lose up to a certain amount based upon their theoretical play...not just to hang out at the table with a 500k buy in to look the part. The number to be considered a whale is presume is subjective base upon what casino you play at. At casinos like Encore, Palazzo, and Bellagio, I would imagine that a 500k player is not quite that whale that the same person would be at a smaller casino. However, Ive been with guys playing that kind of bank at MGM properties, and they get whatever they want.