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Swimming with the Casino Whales
Written by Belinda Levez
Captain Ahab hunted whales with a passion. For him the prize catch was Moby Dick, the biggest "fish" in the sea. Nowadays casino operators are also fishing for whales. The "whales" they are trying to lure are the elite in the hierarchy of casino players. They are the high rollers with the biggest bankrolls who gamble around $100,000 per bet.The bait casinos use to attract them is luxurious hotel suites, free flights, gourmet cuisine, fine wines and chauffeur driven limousines. Whales are provided with all of these incentives free of charge. The casinos get an excellent return on their investments. The high rollers spend on average ten times the cost of the incentives.
The prize catch, the Moby Dick of casino whales, is Australian Billionaire Kerry Packer the world's highest staking gambler. He has a personal fortune of around $4 billion and can make or break a casino. He is a skilful player who regularly wins millions of dollars. Baccarat and blackjack are his favourite games. When he reportedly dropped $20 million in a weekend's gambling at the Bellagio in Las Vegas, he wasn't particularly bothered with the loss. Considering his net worth of around $4 billion, it was equivalent to someone with a bankroll of $4000 losing $20.
It is no surprise that he chooses to play baccarat as it is the richest game in the casino. It is often played behind closed doors, in luxurious surrounding. Most other casino games have maximum stakes imposed that can really cramp a gamblers style. In contrast baccarat is often played with no limit. The game has been immortalized in the movie, Thunderball, with Sean Connery as James Bond, who was neither shaken or stirred as he bet a small fortune.
Baccarat originated in Medieval Italy. Baccara means zero, a reference to the value of the court cards. The French named it chemin de fer, (meaning railway, due to the shoe passing around the table on "tracks"). In England the name punto-banco was adopted where it is played with slightly different rules. The game spread to Latin America and from there to Las Vegas where it was popularly known as shimmy. The rules are simple players try to reach a maximum of nine points with either two or three cards. Those closest to nine win.
Packer's other favourite game, blackjack, allows skilful players to overcome the house advantage. The research carried out by a trio of Americans Baldwin, Thorp and Braun showed how a combination of basic strategy and card counting gives players the edge. When Kerry Packer plays blackjack, he makes large bets of up to $375,000 a hand, playing seven hands at a time. His gambling sessions usually last a few hours, with him quitting when he's ahead.
The casino of choice for whales in Las Vegas is the Bellagio. Owned by Mirage Resorts, it was specially designed to cater for the needs of high rollers. Here there is no place for typical Las Vegas gaudiness. Instead an elegant European style environment has been created. The resort was inspired by Bellagio, an Italian village on the banks of Lake Como. A nine acre man-made lake features over 1000 "dancing" fountains that perform to classical and contemporary music with an accompanying light show. A village feel is accomplished with terra cotta tiled villas which are reserved for high rollers.
A stunning sculpture called "Fiori di Como" by international artist Dale Chiluly is the main feature of the lobby - over 2000 roses made from brightly coloured glass hang from the ceiling. This floral theme continues in a botanical garden which is housed under a huge dome. Lush green foliage and brightly coloured flowers surround classical style columns. The garden is continually changed to complement the seasons. Top class restaurants offer French and Tuscan cuisine. The hotel offers 3000 rooms which are decorated with antiques and art
The casino is 110,000 square foot offering games including roulette, blackjack, craps, let it ride, pai gow, Caribbean stud poker and baccarat. Table minimums start at $5, rising to $10 at peak times.
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About the Author:
Belinda Levez is a former croupier with London?s top clubs and author of the Teach Yourself How to Win series of books. Read more by Belinda Levez on Casinonet.
