Before attending the PGA Fall Expo, Jeff Wallach, TheAPosition founder, told his Mom that he’d play one dollar in a slot machine in Las Vegas for her. So at The Venetian Casino Jeff and I stopped by a ‘Play 4’ machine and loaded in a dollar. As a venture capitalist, I had negotiated putting up all of the capital in exchange for a 50% split of proceeds for my Mom. Not one of my best betting negotiations, but it was fine given the capital at risk. The plan was agreed to and sealed with our word along with a handshake. With the formalities seen to, Jeff stepped up to the machine bet half of our bank on our first pull. We ended up a winner with a bit more than $3. After a couple even or losing hands we hit the jackpot again raising our position to just a bit shy of $7. We were then afforded 5 bonus hands where we completely cleaned out the Venetian casino, raising our total winnings to $18. At the cashier window we exchanged our ticket for US fiat currency and waived off the staff’s offer of a security escort. With the dollar repaid and the change given away to the casino staff we split the bounty for our Moms.
