Buffaloooooooo

There are some slots where the jackpot can get big enough that it's slightly +ev to play. The casino/provider doesn't care who is playing or winning it because the jackpot has already been funded by previous players, so every spin is +ev for them too. Win/win

I can't imagine he's ownrolling this, firing $125 bonus buys for 12 hours straight, I'm assuming he's part of a conglomerate or is just a guy who gets paid an hourly to sit in a chair. Those taxes must be a nightmare.

MGM actually banned a lot of AP slots players who pray on machines like this from their properties in Vegas a year or so ago.
Smart casinos actually do care who wins. They should want actual gamblers to win who just got lucky and will eventually piss the money back to the casino, not APs grinding +ev slots.

Did he actually do 12 hours of 125$ spins or is that just a throwaway line from a throwaway comment that has somehow become lore?

The machine he was playing had a "banked bonus" that has to hit by a certain amount. I cannot see from the machine the banked bonus amount on this particular machine, but the typical example most people will understand is a banked bonus that hits before $1,800. An increment of each wager gets adding to the banked bonus. The banked bonus randomly hits, but it MUST hit before $1,800. If you are on a machine that is not linked to any other machines and it must hit before $1,800 and the bank bonus is at $1,799.98 then you know when you make a wager and an increment of your wager gets added to the machine it most hit...

The reality is you will never likely see empty machines one penny away from hitting. On the must hit by $1,800 example, you would have to decide for your self when you take a seat if it is empty. Do you sit down at a machine where the banked bonus is at $1,300? Do you wait and hope the seat is still empty at $1,400? Without a doubt, by $1,700 every seat has long been locked up. So I don't know if the 12 hour is accurate or not, but you have to sit down long before the machine is anywhere near $1,800.

The dollar amount wagered is accurate at the end for sure. But if for example he sat down when the banked bonus was at $1,300 he might have been playing slower trying to lock up the seat but not be someone adding a lot to the increment increase. But if the bank bonus is over $1,700 then everyone on every machine that understands the banked bonus is playing the max and playing fast. And your chances of hitting at $125 wagers is 5 times as many entries towards hitting the random bank bonus as the person siting next to if that per is only betting $25.

Nice bink Allen. Got to admit I was confused at first; the guy complains about a 5$ hotdog but bets 125$ a spin for 12 hours?

After reading comments and realizing its a 125$ bonus buy, things make more sense.

This interview is perfect. You only ever get to see Chainsaw happy when he gets free casino swag.

Perfect Chainsaw summary in ten seconds. Odin bless his heart.

Ya I highly doubt it wasn’t an advantage play. People in this world often lie about edges to not have competition for machines but any type of game that the jackpot has to hit by x amount is definitely one targeted by advantage players.

Because he, like many advantage-play slot players, searches the casino floor for machines that were left in a state where the next spins would be +EV. It is a learnable skill, and it is a great help to people seeking to boost their status in casino players' clubs, because slot play is seen by casino management as more desirable than video poker play. I am not aware of any particular degree of casino heat being applied to AP slot players -- I certainly have never experienced it.

By the way, state gaming commissions take an extremely dim view of casinos attempting to weasel out of big slot payouts by claiming malfunction. Go spread your ignorant FUD somewhere else.

Way to go, chainsaw!

After all that grinding he makes the score of his life on a slot machine. Awesome!

He said he was down 12,000 before it hit. He also gets paid a lump sum or annuity, meaning not the full 1.2 million. What a scam. After lump sum and taxes he'll get about half the jackpot.

I liked all of the brilliant comments on Allen's Twitter when he asked if should take the lump sum or annuity. Most were saying to take the annuity and invest the $800k and make such and such per year.........completely ignoring the large tax hit when taking the lump sum.

Lol, Allen has infinite funds available.

Was the 800k lump sum confirmed? I saw he mentioned the lump sum option but didn't see the confirmation of what the value was.

That's true although I'd still take the lump sum.
You should be running the math after taxes.
I still think you come out ahead in the long run with the lump sum.

Additionally he lost about 100k at wsop which would lessen the tax bill some.

The only way I'd take the annuity is if In reality most years he loses gambling so he'd be able to write off those losses against the annuity.

He will be able to write off all his losses at the wsop. As well as any future loses this year.

And only gets comped two travel bags?

If you take the annuity and then die you/your heirs don’t get the rest of the money, it’s usually set up as a life-only annuity for this and the lottery

I asked ChatGPT and after it listed pros and cons and a bunch of formulas it said:

Based on this simplified analysis, the lump sum option ($800,000) invested at a 7% return over 20 years could potentially grow to approximately $3,096,000. The present value of the annuity payments ($60,000 per year for 20 years) at the same discount rate is approximately $635,400.

I then asked to factor in taxes at 24% for both:

Lump Sum Option:

After-tax amount invested: $608,000
Future value after 20 years: $2,352,960
Annuity Option:

Annual after-tax amount invested: $45,600
Future value after 20 years: $1,872,372
Based on these calculations:

The lump sum option, with a future value of approximately $2,352,960, is higher than the annuity option's future value of approximately $1,872,372.
The lump sum option allows for a larger immediate investment and the potential for greater growth over time.

Which makes this a funny story, as I would imagine Chainsaw plays at Thunder Valley maybe but a few times a year (e.g. when the WSOPC or WPT events are in town). For those not aware, Thunder Valley is in Lincoln, and probably the largest casino in the area that also has Cache Creek and Stones Gambling Hall among its rivals.

It didn't take into account the larger tax bracket on the lump sum, here is the corrected numbers.

Lump Sum Option:

After-tax amount invested: $504,000
Future value after 20 years: $1,950,480
Annuity Option:

Annual after-tax amount invested: $45,600
Future value after 20 years: $1,872,372

Bet you can’t find 5 provable examples, excl. cases where player tried to hack the machine in some way, where casino wrongly claimed a malfunction. And not two in LV.

why do any casinos implement banked bonus slots? wouldnt it benefit them to run jackpots to the moon? is it a regulatory thing?

Not a scam. They tell you up front it will be an annuity.