Interview with the Wizard of Odds
Would you like to know when to call and when to fold in Texas Hold'em? Do you want to play basic strategy at Blackjack but you can no longer keep track of all the rules which effect the game odds? Here we go with our special interview with Michael Shackleford, a.k.a. the Wizard of Odds.
Let's start delivering immediately some of what we promised. This is the Blackjack basic strategy, according to the Wizard:
He uses both combinatorial pure math and random simulations to study blackjack. His basic strategies are the product of a combinatorial program he developed. Expected returns for specific sets of rules are usually the product of random simulation.
Back to the man behind the Wizard, Michael lived in Orange County, studied at the University of California - Santa Barbara and the move to Baltimore. His interest in gaming math convinced him to move to Nevada. After evaluating between Reno and our Vegas, he decided to move here. He is gaming consultant for online operators and casino games developers.
In Spring, as professor of Gaming Math at UNLV, he gives courses about the mathematical rules which govern games of chance. As you may imagine, the topic is hot in Vegas, so if you like to get the Math knowledge necessary to play effectively at casino games, remember to check http://www.unlv.edu/ in November and December, to see how to enroll. You can decide to take classes without enrolling for a degree.
His favorite game is blackjack, always for practical reasons: you can beat the house playing BJ, you can't do that playing slots. Videopoker was another of his top games, but now he is dedicating less time to get a royal flush. He suggests to play Kacjs or Better, Deuces Wild and Double Bonus.
If you like videopoker as I do, this is a "basic strategy" for jacks or better video poker. Using the strategy on a full pay machine will result in an expected return of 99.46%. Compared to the optimal strategy return of 99.54%, mistakes in the simple strategy will cost 0.08%, or one total bet every 1178 hands. To use the strategy look up all viable ways to play an initial hand on the following list and elect that which is highest on the list. A "high card" means a jack or higher.
Full house or better
4 to a royal flush
Straight, three of a kind, or flush
4 to a straight flush
Two pair
High pair
3 to a royal flush
4 to a flush
Low pair
4 to an outside straight
2 suited high cards
3 to a straight flush
2 unsuited high cards (if more than 2 pick then pick lowest 2)
Suited 10/J, 10/Q, or 10/K
One high card
Discard everything
He advises people to keep updated about games rules and payouts. The casino which was good yesterday, can be no longer good today. Any change in rules can have a huge impact on the outcome and expected profitability. Also, keep both eyes on the pay table, never play for less than the best you can get!
Mike is positive about the future of Vegas. There are cities which are performing decently without having extensive legalized gaming, Vegas will do much better with its skills in the gaming entertainment business! He said to be very happy to live in Vegas, both for personal and business success.
He recently started getting seriously interested about poker. For him, math plays a huge role in the game and experts are often giving too much attention to players' tells. Personally, I think a mix of both is optimal, but anyway if you play according to math, you have good chances to pay a low price for your gaming entertainment. If you keep rising 3/2 unsuited, well, it's likely you'll make the pot for the benefit of someone else :-)
His latest achievement is a table whish ranks the initial two cards in Texas Hold'em. Tables are indicated for both 2-player and 10-player games. In all cases it is assumed that all players stay in until the end.
The Wizard also likes sports betting. He has no quick advice about this, but he keeps monitoring games statistics to see where and whom it is better to bet.
Michael is a very rational player. I imagine it is expensive to play against him, but at the same time if you play according to mathematical principles, there is plenty to learn from him. His website http://wizardofodds.com/, where you find all the tables we talked about plus several more gaming analysis, is a very objective gaming resource, excellent for players at all levels, from beginners to highly experienced.
If you are still playing Martingale at roulette and splitting 10s at Blackjack, I strongly suggest you http://wizardofodds.com/. This advice is going to be worth several good $ for you!
