denflo60 wrote:
... I was wondering if any one can suggest any reference
material for gambling in the short term ...
See the vpFREE Dogma "Short Term Playing Strategy" paragraph
in the FAQ (appended below).
vpFREE Administrator
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vpFREE Dogma
Playing video poker profitably is a function of selecting good
games, playing with an adequate bankroll, using optimal playing
strategy, reducing errors and taking advantage of casino
promotions. Profit expectation (EV) is described by and can be
calculated using the "Video Poker EV Equation":
EV = [ER] X [coin-in]
EV can be increased by maximizing the product of [ER] times
[coin-in], a process which involves making trade-offs between
speed and accuracy, and between lower and higher denomination
machines with different returns.
Coin-in can be increased by playing faster, playing longer,
playing multi-line games and playing higher denomination
machines.
ER (Expected Return) can be increased by selecting games with
higher returns, using optimal strategy, reducing errors, and
choosing where and when to play in order to maximize Cashback and
other casino benefits.
Randomness
vpFREE believes that video poker games which are regulated by
respected gaming commissions are random and fair, and that the ER
of such games is a mathematical function of their pay tables.
Playing Strategy
Adequately bankrolled, advantage players who are looking to
maximize their profit per hour will always choose the highest EV
option when playing a video poker hand. Other strategies may be
better for players with different goals or for players who are
under-bankrolled or risk averse.
Short Term Playing Strategy
Short term and long term strategy is identical for adequately
bankrolled, advantage players who are looking to maximize their
profit per hour. They will always choose the highest EV option
when playing a video poker hand. Other strategies may be better
for players with different goals or for players who are
under-bankrolled or risk averse.
Money Management
Money management can help stretch a trip bankroll, and may
contribute psychological benefits, but can also result in lost
opportunities when positive plays are terminated prematurely. All
other things being equal, quitting play for a session because of
profit or loss considerations doesn't change future expectations
in any predictable manner.
Switching Machines
Players can switch machines for many reasons, but all other
things being equal, changing machines doesn't change future
expectations in any predictable manner.
Anecdotal Evidence
Limited anecdotal evidence which advocates and supports money
management, machine switching, optimal strategy deviations,
voodoo incantations etc. as a means of increasing EV are
interesting, but not persuasive. Such casual evidence usually
describes normal fluctuations, often suffers from selective
memory, and doesn't take into account what would have happened if
session play had continued on the same machine using optimal
strategy.