Any World Poker Tour or World Series of Poker event is prestigious to win. I guess the WPT Championships at the end of the season is a big event. It has a $25,000 buy in and usually pays out over $2M to the winner.

The Aussie Millions gets lots of press, mainly because of the time of year it’s played, and has grown to become one of the biggest of the year. But in my opinion there are two events that stand alone as the most prestigious to win.

The WSOP main event no-limit holdem championship is easily the biggest event a player can win. The event has paid out over $5M to the winner for the last four years, with 2007’s first prize being $8M. The other tournament that should be the most prestigious, and someday will be, is the WSOP HORSE Championship. The true test of the best.

The first way to save cash in Vegas is to stay at good – but not the best – hotels. Instead of paying $200 per night at the Bellagio, you can stay at Treasure Island or Bally’s for a fraction of the price. Your room will still be great and you will pocket over $100 a day with which to gamble.

Keep close account on your comps and make sure you get everything you can. Don’t be afraid to ask a pit boss for a coupon to the buffet or a show. Just make sure you ask nicely; don’t demand one, and you’ll be surprised what you’ll get.

Save the drinking for the casino floor. Don’t spend a fortune in the bars on cocktails when you can get them for free on the floor. Get your glow on before you head to the nightclub or you’ll be dumping $10 a drink inside.

Is it possible to get rich from online slots? There’s no doubt you can. The progressive slots online are some of the biggest jackpots you can find anywhere. They are commonly in the multi-millions, created by huge networks of multiple casinos. Unlike land-based casinos, the online networks include every casino that is running that particular gaming software. The amount of players in each individual casino is limitless, and they are very popular. So if you’re playing the progressive games you can get rich with one press of the button.

The most popular of the progressive games are The Millionaire’s Club and Rags to Riches. These are Cryptologic casino software, and have broken records by giving away $2 million, then $3 million, then $4 million jackpots.

If you have a big bankroll there are high-stakes slots that can make you rich if you can hit a regular slots jackpot.

The life of a high roller can be one of extravagance and extremes. Most high rollers have a source of income that allows them to blow six figures on a long weekend in Vegas. Depending on the size of the whale, comps and perks can be the best of the best. The low end of the splurging scale would be someone who has no problem with dumping $10,000 in a four-day visit to town. The biggest players can easily be willing to gamble a half million or better in that timeframe.

High rollers can expect the best rooms and the best meals comped the entire time they’re in town. Hotels compete for these high-end players, and the high roller can expect to get whatever they want. That includes shows, spa treatments, boats and cars. Even ‘discreet company’ will be arranged, if the whale is big enough.

Gambling stocks are looking like more of a gamble these days.

It’s always been somewhat of a rollercoaster ride when it comes to investing in gaming stocks. This headline-grabbing industry has attracted hedge funds and short term traders that are quick to buy and dump shares on a whim.

Casino stocks were hitting a high a few months ago when forecasts of out of Macau, which is building an Asian version of the Las Vegas Strip but in one tenth of the time. However some lost 30-50% of their value when Macau gaming revenue – 40 to 50% ahead of a year ago, fell short of Wall Street expectations.

Some of the analysts whose forecasts fueled last year’s Macau backlash now say that gaming stocks are a good buy.

There is little evidence so far that real estate prices on the Strip, which rose last year even as the housing market sunk – are dropping.

Las Vegas is attracting even richer developers, including foreign conglomerates, willing to risk more of their own money.

No matter how you invest, like always, it’s going to be unpredictable no matter who is doing the predicting.

[Gaming Stocks]