A few years back, my brother raved about a gambling guru named Michael Shackleford who is known as the Wizard of Odds. Shortly after that I met the Wizard at a party and we corresponded a few times by email. But I really wasn’t aware of how important Michael Shackleford is to the gambling community until I started writing my latest book (Casino Gambling For Dummies). In that book I had to explain the best bets and odds in a number of casino games, some of which strayed far outside my field of gambling expertise. Making the task of understanding all these games even more difficult for me was how much bad information I came across in other books. But in my research, one constant was that I was able to trust Michael Shackleford's math and objectivity on any casino game. His website (www.wizardofodds.com) is a tremendous tool for anyone interested in learning a new game or simply looking to improve their skills for an existing one. The site is packed with great advice, tips, and strategies. He shatters many gambling myths and helps players get the best possible return for their gambling dollar.
Whether you are looking for the optimal way to play video poker or the best strategy to reduce the house edge at pai gow poker, Michael Shackleford is a trusted voice and one of the top math minds in his field. The motto of the website is, “The last word on gambling strategy.” And I think it deserves that title. What follows is an interview I recently did with the Wizard.
Where did you grow up?
Orange County, California.
Were there any influences in your childhood that may explain why you became a gambler rather than a fireman?
I think I was born with the gambling gene. My father says I inherited it from my great grandfather.
What childhood experiences can you cite to explain who you are today?
I could write a whole book on that question. As you could probably predict, I was the math and computer geek who ruined the curve for everyone else in high school and college. Probably the biggest experience to shape my character was the summer of 1989, when I worked as a counselor at a camp for troubled teenagers, deep in the woods of Canada. That taught me a lot about respecting authority, taking responsibility for my actions, and focusing on correcting my own faults rather than finding them in others.
Those all sound like important skills for success in the gambling world. What was your college education?
I have a degree in math/economics from the University of California, Santa Barbara.
What was your first gambling experience?
I’m not exactly sure, but I can recall a favorite bet of mine as a kid was offering even money on a free throw in basketball. The cocky athletes in my neighborhood were suckers for that bet, but none of them could shoot anywhere close to 50%, so it was a profitable wager for me.
Did you face any negative stigma in becoming a gambler — either in your own eyes or in the opinions of others, such as family or friends?
No. I’ve been a gambler since the age of about 10, so I feel I never became one, I was practically born one.
Were there any specific books or players who influenced you?
In college my roommate had a copy of Playing Blackjack as a Business by Lawrence Revere, which started my endeavors in blackjack, first with basic strategy and then card counting. However Stanford Wong is my hero. His Professional Blackjack is what influenced me to study the odds of the whole gamut of casino games.
What was your starting bankroll and how did you put the money together?
While I was in college, the Boomtown Casino outside of Reno had essentially free flights from Santa Barbara, as long as you brought at least $300 and that was what I considered my bankroll to be. I worked making deliveries for an insulation company, which was the source of the money.
When did you know you were going to be a success in gambling?
My website started in 1997. By 2000 I was making enough to quit my job as an actuary and move to Las Vegas.
How have you influenced the face of gaming?
I think my Las Vegas slot machine survey in 2003 is my biggest accomplishment thus far. Until then players didn’t have a clue what they were up against when playing slots or which casinos really have the loosest machines. In that survey, I ranked almost every casino in Las Vegas according to a sample return of their 5¢ video slots. That study was quoted in several newspaper articles and also in advertisements for the Palms Casino, which had the best paying machines in the survey.
What was your biggest win/loss?
My biggest win was an $8,000 royal flush at the Rampart casino in Summerlin (just outside Las Vegas). My biggest loss was a $5,000 bet on the over in the Super Bowl. The reason I made the bet was I had about $100,000 in prop bets correlated to a low-scoring game.
Any great, colorful, or unusual stories you can share?
I can’t think of any. I’m just a grinder when it comes to gambling.
What is your favorite game?
I love all games, not just those connected to gambling, such as the board game of Risk. My greatest victories were over the Risk board with no money at stake.
What games would you recommend novices try when they first visit a casino?
Blackjack or video poker. These two games both carry low house advantages of under 0.5% (assuming good rules and proper strategy). Smart gamblers can get back more than the house edge in comps, so it is like being paid to play.
Experienced gamblers tend to stick to one type of game or have a favorite machine. Is it wise to specialize like that?
I don’t fault experienced gamblers either way on that. Personally I like to have several weapons in my bag of tricks, ready to use if a good opportunity arises. However there are lots of successful professional gamblers who know only one game and know it very well. It is a matter of preference and personality.
What are some overlooked games in the casino that offer good value to players?
A couple of angles that I think are overlooked are prop betting in sports and playing low house edge games to being invited to special casino tournaments.
What was the worst day you ever had gambling?
No one particular day stands out. The worst time of my life was fourth grade, but I won’t get into that.
What do you regret in your life; what are you proudest of?
I’m not big on listing regrets. You have to make the best of your life today. Despite all my gambling achievements I’m proudest of my research on the most popular baby names, which are listed at ssa.gov, and in turn quoted in numerous books, newspapers, and magazines. I made the front page of the Los Angeles Times when I determined the most popular baby name for boys in California and Texas was Jose, for births in 1998.
What are your major goals and dreams, either professionally or personally?
I’d like to enter politics later in life.
What do you feel is your greatest contribution to gambling?
I think I have helped recreational gamblers get a lot more value out of their gambling dollar, across the whole gamut of games. Also, I hope to have encouraged an interest and love of math in others, through the study of games of chance. It is important to me to show people that analyzing casino games can be a fun and practical application of probability.
How has the game changed because of you?
I feel some responsibility for the deteriorating rules, especially in blackjack and video poker. As players get better the casinos make the odds worse.
If someone has never been to your website, where should they start?
The sections devoted to each game are the foundation of the site. I have a pull down menu titled “Game Info and Strategies.” That is a good place to start.
There are a bunch of books on gambling out there. What separates your book from the others?
In my opinion there is no book out there that covers the whole gamut of games in as much depth as mine. Most introductory books don’t get very deep, that is why my title is Gambling 102, not Gambling 101.
How would you like to be remembered?
As the father of two and the husband of one.
Visit the author at
www.kevinblackwood.com
