STAT 3400/4400

University of Denver Interterm Travel Course - Las Vegas (Tentative: Dec. 10-13, 2006)

Course Description

This course examines the theory, practice and business of gambling using a combination of lecture-style instruction, guest lectures, experiential learning, and independent study. The main part of the course consists of four days in Las Vegas studying the gambling industry and how it operates in the gaming capital of the world. Requirements include an orientation evening in Denver and background readings prior to travel. Class sessions in Las Vegas include visits to gambling facilities, gaming theory instruction, and presentations from guest speakers. Objectives are:

• To introduce students to commercial gaming as a business enterprise.
• To develop an understanding of the underlying mathematics needed for rational analysis of gambling games.
• To explore the unique business and regulatory issues associated with commercial gaming operations.
• To gain familiarity with the social and economic impact pros and cons of legalized gambling.

Although mathematics of gambling is an underlying theme, the course touches on a number of related topics, including the phenomenon and history of gambling, the impact of legalized gambling, casino operations, surveillance, regulation and gaming law, internet and future of gambling.

Prerequisite: An introductory course in statistics or permission of instructor.

Further Information

• On-Campus Orientation Class: Students are required to attend the on-campus orientation and lecture session prior to departure for Las Vegas.
• Requirements: Orientation session at D.U., class meetings in Las Vegas, background readings and a final paper.
• Cost & Travel Arrangements: In addition to the standard tuition fees, students must pay their own transportation, hotel, and meal costs. All travel and lodging arrangements are up to the individual student. Hotel costs vary widely and depend on choice of accommodations - students may stay where they wish while in Las Vegas.
• Course Credit: Risky Business is a 4-credit Statistics course which can be taken at the undergraduate (STAT 3400) or graduate (STAT 4400) level, and used for business or elective credit. For some programs, other credit is possible.
• Registration and Further Information: Risky Business is offered only during Interterm. Contact the Interterm/Special Programs Office (303-871-2360) for dates and registration information. Early registration is advised. A deposit will be required to reserve a seat in the class.

Past Guest Speakers

• Anthony Cabot, Gaming Attorney, Lionel, Sawyer & Collins, Las Vegas (gaming law & regulation)
• Ted Whiting, Director of Surveillance, Mirage (evolution of blackjack, game protection)
• Anthony Curtis, Professional Advantage Player, Media Consultant, & Publisher, Huntington Press (gambling)
• Robert Williamson III, Professional Poker Player (poker)
• Howard Lederer, Professional Poker Player (poker)
• Douglas Florence, Surveillance & Security Expert, formerly with Mirage & Rio (surveillance, security and investigations)
• Mary Ann Sena-Edelen, Corporate Diversity Leadership Manager, MGM Grand (casino games)
• Phil Gordon, Professional Poker Player & Celebrity Poker Co-Host (poker)
• Dean DiLullo, Vice President, Marketing, Station Casinos (marketing, comps)
• Howard Schwartz, General Manager, Gambler's Book Shop (gambling history, Las Vegas)
• William Eadington, Director, Institute for the Study of Gambling and Commercial Gaming, Univ. Nevada Reno (policy, trends, economics)
• Johnnie Walker, Director of Marketing, Card Player Magazine (poker in the 21st century)
• Derk Boss, Director of Surveillance, Stratosphere Casino & Hotel (security & surveillance)
• George Joseph, Director of Surveillance, Bally's Las Vegas (game protection, cheaters and scams)
• Roy Brennan, Casino Shift Supervisor, The Palms Casino, Las Vegas (table game operations)
• Sudhir Kale, Professor of Marketing, Bond University, Australia (marketing)
• Vic Taucer, Chairman, Resort/Gaming Dept., Community College of Southern Nevada (casino operations, cheating and surveillance)
• William Curran, Chairman, Nevada Gaming Commission (gaming law, regulation, and policy)
• Gordon Dickie, Manager, Security and Surveillance, Harrah's (casino security/surveillance; cheaters/scams)
• Dean Harrold, Executive Vice President, Bally's Las Vegas (marketing and management)
• Richard Schuetz, President and CEO, Stratosphere Casino Hotel and Tower (gaming industry policy and management issues)
• Lyn Baxter, Senior Vice President, Operations, MGM Grand (casino operations and marketing)
• Vincent Eade, Director, International Gaming Institute, University of Nevada, Las Vegas (casino operations; Nevada gaming)
• Steve Easley, Casino Administrator, MGM Grand (game protection, operations)
• Steve Forte, President, International Gaming Specialists, Las Vegas (game protection, table game cheating)
• William Thompson, Professor of Public Administration, University of Nevada, Las Vegas (legalized gambling; current trends)

Gambling Tidbits

• More money is spent in the U.S. on legalized gambling – over $78 billion in 2004 – than on movie tickets, spectator sports, recorded music, video games, theme parks, and cruise ships combined.
• Nearly $1 trillion was wagered legally in the U.S. in 2004, with some form of gambling permitted in all but two states.
• The only wager in a casino that pays true odds (no house edge) is the "odds" bet in craps.
• Roulette - casinos retain an average of 5.3¢ for every $1.00 wagered on the American wheel; half that on the European wheel.
• Blackjack - with standard "old" Las Vegas Strip rules, the house advantage is essentially zero when using basic strategy against a single deck.
• Colorado Lotto - the odds against hitting the jackpot are over 5 million to 1.
• Learn about the theory, practice, and business of gambling in Risky Business, a 4-credit University of Denver course.