For the last few years, I’ve been reviewing books on gaming topics or books on management and leadership that I felt were relevant to our industry. However, recently a colleague asked me which 10 books should he have on his shelf first?
If you don’t want to read the narrative below, here’s the list (in no particular order), based on topics you need to know and/or books you want on your shelf to improve your Zoom call background:
- Roll The Bones by David G. Schwartz
- Casino Math by Robert C. Hannum & Anthony N. Cabot
- Tax Help For Gamblers (4th Edition) by Jean Scott, Marissa Chien and Russel Fox
- Video Poker For The Intelligent Beginner by Bob Dancer
- Slot Machines by Marshall Fey
- Then One Day by Chris Andrews
- Slot Performance Analysis by William T. Dunn
- License To Steal by Jeff Burbank
- The Art of Gambling by Arthur Flowers & Anthony Curtis
- Why Shouldn’t A Woman Wear Red In A Casino? by George Joseph
Most of the titles above are current and available on Amazon or B&N. In addition, you can generally find many of them on used book websites or hiding in the corners of your local bookseller. Only one (“Slot Performance Analysis”) is expensive, as I explain below.
I have left out many of the excellent biographies and historical topics (with the exception of “Roll The Bones”), but will discuss some of the better ones below.
ROLL THE BONES
Author Schwartz used to serve as the director of the Center for Gaming Research at the University of Nevada, Las Vegas. Now, however, he has the title of Associate Vice Provost for Faculty Affairs at UNLV. I have no idea what that entails, but maybe he can do something to improve their basketball team. I do know that he is still writing about casinos and gaming and just recently released a book on the Las Vegas Sands that is superb.
But “Roll” remains the best historical piece to put today’s gaming environment in the proper perspective. Schwartz starts at the beginning; the very beginning. That means before Nevada legalized gaming in 1931. Schwartz details wagering in the parlors of Pompeii before the volcano blew; discusses Native Americans betting even earlier and has references to pre-human primates who also liked to try their luck. It’s a great book. It’s also thick at 570 pages, so it looks impressive on your shelf. In addition, you’ll probably score some points at the next casino trivia contest. The first edition came out in 2006, and there’s an updated “Casino Edition” published in 2013.
I mentioned his most recent book “At The Sands,” which is also a gem. If you’re after more Las Vegas history, that one should be on your list. Also, check out “The Money and The Power” by Sally Denton & Roger Morris and “Running Scared” by John L. Smith. There is no better work on the mob in Vegas than Denton & Morris’s well-annotated book. Likewise, you’ll learn that Steve Wynn was not exactly a pillar of virtue even before he lost his license for fooling around with the help. Schwartz is one of gaming’s leading academics, and Smith is one of the best gaming reporters and columnists.
CASINO MATH
Hannum and Cabot’s book is not exactly a page turner. However, if you’re in the industry, I can almost guarantee that one day (or maybe many days), you’ll find the information here quite relevant to your operation. The book is from 2005, but math has not changed a whole lot in the last 16 years. There are several other decent books on the topic, like Richard Epstein’s 1967 “The Theory of Gambling and Statistical Logic. (Did I mention that math and statistics have not changed much in the last 54 years?) Casino Math is the best of the breed and will not only impress visitors, but it will make you smarter.
TAX HELP FOR GAMBLERS
Other than the fact the authors fail to mention that the 2021 tax deadline is now May 15th, this book contains absolutely everything else you need to know to help your players (or you) navigate the ever-changing IRS rules about gaming wins and losses. It is so good, I highly recommend that you give, or loan, a copy to your tax accountant, CPA or the guy at Wal-Mart who’s doing your taxes. I’m certain that none of them know as much as the trio who prepared this invaluable guide. (Note: I believe this Fourth Edition is much better than the earlier volumes. If you have one of those, dump it and buy this one.)
VIDEO POKER FOR THE INTELLIGENT BEGINNER
There are dozens of books on video poker. But this one is simply the best. Dancer has had a long and distinguished career playing VP. He was once considered an undesirable advantage player, but has evolved to now being courted by casino operators, game suppliers and avid players for his expertise and advice on the game. While it seems strange that both sides would find real value in reading this book, it’s a testament to how good it is.
Books on playing blackjack well are almost as abundant as those on video poker. The classic is Ed Thorp’s Beat The Dealer, published in 1962. Knock Out Blackjack by Olaf Vancura & Ken Fuchs from 1998 is a better read today. One other book you should probably consider on this topic is Bringing Down The House by Ben Mezrich. It details the story of the six MIT students who were card counting in Las Vegas. Industry folks know that legends like Ken Uston perfected this craft long before the students, but the MIT story is the one that amateurs discuss since the book was a NY Times best seller, and it was made into a movie starring Kevin Spacey.
SLOT MACHINES
This book can do double duty. It is full of historical facts about our slot industry and is an excellent coffee table book for the home or office. Over the years, I have postulated that the ideas behind every hit slot machine of the 21st century are in this book. Vendors today have (or could have) used these ideas, applied modern technology, and produced today’s new superstar machines. The basic principles of entertainment and wagering seem to remain constant. You can find copies of Fey’s six editions on the internet, but I highly recommend you get one directly from Marshall today at his website. He is long-retired, but still in great spirits. His grandfather Charlie invented the first modern slot machine (The Liberty Bell), and you should definitely ask Marshall for a personalized autograph of this excellent book.
THEN ONE DAY
I purposely didn’t include any other autobiographies or biographies on this list, since there are so many great ones available. So why did I include this one by and about Chris Andrews? It’s one of the best backgrounders on the shadowy topic of bookmaking. While it came out just before the boom of on-line sports betting (2019), it is still an excellent piece about the world of those who set the lines and provides a glimpse of their day-to-day operations.
SLOT PERFORMANCE ANALYTICS
This book is the thinnest of the 10, but carries the fattest price tag. Retail is $119 with Amazon discounting it only slightly. If you are in slot operations, you should still buy it. When I asked Will why it was priced so high, he said that he only printed a limited number of copies since it was aimed at a small audience. And he assumed that those buying it would put it on the casino’s credit card anyway. (He’s right. That’s how I got my first one.)
Hopefully you are using some of the excellent software tools now available to help with your analytics and/or have signed up with one the national survey firms to help with your comparative analytical work. Even if you have, it is important to understand the principles behind their work. Dunn’s book is a great primer and easy to understand. Most slot pros who’ve read this come away with several new insights to fine tune their floor. His in-person classes as part of CDC Gaming Seminars are almost always sold out, and that is another testament to the quality of this book, which is used in those classes.
Three other great titles about marketing analytics are The High Roller Experience by David Norton, What Stays in Vegas by Adam Tanner and Competing on Analytics from the Harvard Business School Press.
LICENSE TO STEAL
This book, first published in 2000, is terribly out-of-date since the crooks in our industry are coming up with new ways to cheat every single day. However, every industry pro should know the details of these classic scams and more about Nevada’s gaming regulations (which have been copied by every other jurisdiction). You can hardly call yourself a slot professional if you don’t know the story of Universal’s “near miss” strategy from 1988. There is also the personally painful story (because he scammed me at Fitzgeralds Reno) of a crooked, but brilliant gaming regulator. As a bonus, you’ll find your retelling of these stories of casino scams are a hit at most cocktail parties.
THE ART OF GAMBLING
There is not much to learn about operations or management from this beautiful book, but it is the designated coffee table book for our industry. It should be in your lobby, if not on your shelf. The forward is by LeRoy Neiman, and he shares the pages with the likes of Cézanne, Picasso, Goya and Van Gogh. Really! Note that co-author Anthony Curtis is the man behind Huntington Press, the publisher of several of the books on this list, as well as dozens of others that are excellent.
WHY SHOULDN’T A WOMAN WEAR RED IN A CASINO?
George Joseph is one of the best consultants on casino cheating in our industry. His book is on this list for three reasons. 1. – I’ve learned so much by exchanging stories of current scams with him. 2. – He and I both love card magic (he’s good, I’m not). 3. – This book provides the answers to questions that “everyone” wants to know.
That is the subtitle of this edition: “The 101 Most Asked Questions About Las Vegas and Casino Gambling.” I will not spoil the surprise about what women should, or should not wear, in a casino because George’s answer on that one may be slightly out-of-date. This book originally appeared in 1996, with the Sixth Edition published in 2008. However, the other 100 questions and answers are still current. If you haven’t been asked at least some of them in your career, you must have finished orientation just last week.
A decent library of casino gaming books should include dozens more, but if you can only start with 10, these are great considerations.
