from the original article.
Bennett likes to be discreet. "He'll usually call a host and let us know when he's coming," says one source. "We can limo him in. He prefers the high-limit room, where he's less likely to be seen and where he can play the $500-a-pull slots. He usually plays very late at night or early in the morning--usually between midnight and 6 a.m." The documents show that in one two-month period, Bennett wired more than $1.4 million to cover losses. His desire for privacy is evident in his customer profile at one casino, which lists as his residence the address for Empower.org (the Web site of Empower America, the non-profit group Bennett co-chairs). Typed across the form are the words: "NO CONTACT AT RES OR BIZ!!!"
the article clearly talks about losses, not money put into play. and the game he plays is slots, which, over any significant duration of time will leave a gambler much poorer than when he started.
As for your conclusion about slot machines, I thoroughly agree. The payoff odds for those "one-armed bandits" are less than for any of the other forms of betting available at a casino. So they should be played only for recreation, and only using money one can well afford to lose. Anyone who expects to have a net gain at the slots is a statistical fool.
As for me, on my few trips to a casino, I stick to low-stakes blackjack. I play by the odds and the rules for betting. And I count myself lucky to enjoy the game, enjoy the free drinks, and stretch out my budgeted maximum loss longer than the time I set aside to play.
Congressman Billybob
Latest column, now up FR, "The Knight of Draper's Liquor Store."