There were 8 of us at the VP Free Detroit get together:
Mr. and Mrs. Murphy
Henry and Carol
Preston
Tom From Canton
John and Peggy
Dinner was good but painfully slow at Fishbone's. They were busy but not that busy. Dinner shouldn't take an hour and 45 minutes when we didn't order anything out of the ordinary. The company was good, though.
Good luck to Henry and Carol on their trip to Amsterdam and Germany. Travel safe.
One thing VP Pappy mentioned was his lack of success at the $1 progressives. He said that he will play for a while and lose $500 quite often. Well, I ran a few numbers on Dunbar's risk of ruin calculator and here are the results :
Game : NSUD $4000 royal
Start with $500, play for 2 hours at 600/hph.
70% of the time you will lose money. 56% of the time you will lose more than $200 and 38% of the time you will go broke before you play all the hands.
Well, it's a progressive, right? That should help. Unfortunately, a progressive ( if played for maximum value) actually increases your risk of ruin.
Game: NSUD with $5000 royal
Start with $500, play for 2 hours at 600/hph.
72% of the time you will lose money. 57% of the time you will lose more than $200 and 40% of the time you will go broke before you play all the hands.
So, if your main concern is playing for a couple hours without getting hurt too badly, the dollar progressive is not for you.
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