Gambling's Adult Western

An engaging Nebraskan named Jackie Gaughan, who studied accounting at Omaha's Creighton University, handles the nonracing end of the Derby on First Street downtown. He must have been hopping mad if he saw a U.P.I, story thumping the "wise-guy gamblers" of Las Vegas in connection with the odds on a golfer in the recent Tournament of Champions.

"Look," he said when I stopped by, "we figure the bookmakers here are as respectable as any stockbroker."

The difficulty of beating bookmaker or casino is admitted by the perennial optimist, who nevertheless insists: "O.K., O.K., but so far you've only told me I can lose. How can I win?"

The pros apparently agree that the best way to attempt to make a large, short-term gain in the casinos is to press your luck in a low-percentage game and get out fast when your luck turns. They always illustrate the point with craps. This theory is tied to another Las Vegas article of faith, always stated in this way: "The American public will stand to lose more than it will stand to win."

Milton Jaffe, former manager of the fighter Billy Conn and now managing director of the Stardust, elaborates: "A man coming out of our show may have $5,000 in his pocket. Say he wins a couple hundred dollars at craps right away. He quits right there, thinking, 'Boy, that paid for the weekend.' But if he loses a hundred he may go on to drop the $5,000 just trying to make it back."

To win, then, say the insiders, avoid panic betting to recoup a small original loss. Make nominal bets or quit for a while if the dice are running against the shooters. Forget the so-called field and proposition bets. But bet heavily when the cycle swings back, when passes are frequent, when sevens are few.

It is not possible to explore here all the subtleties of practical betting tactics—the "come," "place" and "buy" bets, the odds on a given number or situation. Suffice it to say that a gambler who has not mastered them, who has not had some actual experience, who has not the patience or bank roll to last until a streak begins and who cannot count very well is not likely to break any banks.

Over the long pull, despite the hot streaks—the long "hands" that every big casino has lost hundreds of thousands on—the house stands to make a profit of something over 20%" at craps, as well as twenty-one and roulette. Habitual casino gamblers, no matter how shrewd, die just as broke as horseplayers.

"That's a heckuva way to tell me how I can win," says the optimist, "but I'm going to Las Vegas anyway. What is it really like?"

Well, the sky is wonderfully clear and the air is crisp at dawn, and it is cool again at sundown after the heat of the day. Platinum hair seems to be on the wane. Silver dollars have a peculiar tendency to leap onto the gaming tables. The Parisian show girls are mostly English. The Las Vegas Mormons are dead set against gambling. Film stars who try their luck at the tables are all but ignored by the other gamblers—a serious lot. The legendary Nick the Greek is in town, gambling away.