Here's what npf125 had to say:
"Bankroll, bankroll, bankroll. If that's not as important to your
strategy as those inside straight flushes and penalty cards you just
don't get what VP play is really all about."
I've been reading Dancer's book "Million Dollar Video Poker." The
basis for the title of this book is the experience he and his wife
Shirley had, winning a $million during a period of 6 1/2 months, at
VP. Dancer had been playing VP for perhaps 7 years (and my memory
might be playing tricks on this), starting with a small bankroll, and
when it became his turn to grasp the golden ring he was prepared both
on the basis of experience and enhanced bankroll, so he grabbed ahold
with the consequence he (they) won the $million.
The underlying premise, regarding VP, is that your bankroll will grow
slowly but surely in the long run (albeit with some downswings and
upswings), provided you use proper money management technique, select
your casino carefully, and select your VP game carefully. Near
perfect play is viewed as acceptable, and that's a thing nearly
anyone can aspire to.
In the real world some folks embark with an unacceptably low
bankroll, and they just fritter their money away until they have
none. Some gather together acceptable bankroll, yet know in their
heart-of-hearts that they actually still owe $127,000 on their home
back in Texas, and yet here they are playing VP, effectively using
borrowed money to do so. Some are using rent money due 2 months off
to have a "decent" bankroll. These departures from proper money
management are defended on the basis of cheap and exciting vacations
they take in Las Vegas. These vacations are needed for good mental
health, and who is there to question this logic?
A young man (compared to me) of age 66 receives $600/month from
Social Security, and it's deposited automatically each month to his
bank account. He sells his home and goes to live in Las Vegas. His
will be a life of staying in hotels, made free because of his VP
play, and eating in casinos, mostly. He has no car, but the bus is
close, he had enough socks and undies to last a lifetime (provided he
dies on schedule at age 100), has Medicare paid for within his S/S,
and is intent on living out his years playing near perfect VP. Gee,
he's even figured out how to sell those tee shirts and emblem casino
coats he'll get for free! He resolves to start VP with a $10,000
bankroll, and to never play more than 40 hours/week at his normal
pace of 600 hands/hour. If he goes on an extended loss cycle, he'll
take some bucks out of the bank to bring his bankroll back up to an
acceptable level (which will change as his total bankroll goes up).
Net he expects to earn a +E of 0.2% in the long run. He wants to play
100% of his theoretic bankroll each day. He'll play perhaps 1,000
hands each day of $1/coin VP, to obtain $5,000 of handle for the day,
and the other $5,000 will be with quarter machines (6 2/3 hours at
$750/hour). If he fails to get his $10,000 total handle in on one
day, then the next day he'll play half an hour more of $1 VP, so that
he can average $10,000 daily (starting basis - later he'll simply use
more hours of $1 play to cover his greater bankroll amount). On
average, provided he plays 250 days per year at +0.2% E, then his
bankroll is expected to reach $10,000 x (1.002) ^ 250 = $16,479 in
one year. That's the theoretic trajectory. In fact, he's set up his
theoretic bankroll into a spreadsheet for the coming 3 years. To
repeat, he'll always play his theoretic bankroll, and will transfer
from the bank to bring his bankroll up, if necessary.
This young man is going to take advantage of free coupons, is going
to enter lotteries for free cars etc, and might even sell some of the
goodies that come his way! Is it actually legal to SELL your comped
dinner, or show in Las Vegas? I don't know the answer to this, but
it certainly makes sense that some of these things are fungible, eh?
If you know, please tell us!
Of course, any of the comments I've made above, whether concerning
bankroll or otherwise, are appreciated. Thanks!
Dave