I have what may be a stupid question about bankroll requirements. On a
two day gambling trip playing $1 VP how much should I take and be
prepared to lose? I have been stopping at losses of approximately 2K.
I am wondering if I am putting enough coin in to have a chance at a
positive result for the trip. For 2006, I am considering fewer trips
with higher per trip limits. Can someone please help me sort through
this? Many thanks.
BANKROLL QUESTIONS
Go to the "Bankroll" links at this site. There are some very
useful "tools" and tables accessible there, to help answer your
questions. Working through your own particular situation is usually
better than following some "pat" answer, and it is often "fun" to work
through it anyway.
.....bl
I have what may be a stupid question about bankroll requirements. On
a
two day gambling trip playing $1 VP how much should I take and be
prepared to lose? I have been stopping at losses of approximately
2K.
···
--- In vpFREE@yahoogroups.com, "dwtx01" <dwtx01@y...> wrote:
I am wondering if I am putting enough coin in to have a chance at a
positive result for the trip. For 2006, I am considering fewer trips
with higher per trip limits. Can someone please help me sort through
this? Many thanks.
Thank you for the reference to the links. Using some of the
calculators, I compute I will need a bankroll of approximately
$15,000 to have a 10% Risk of Ruin playing the games I like to
play.To continue with my stupid questions, if I go on 5 gambling
trips a year, do I take and invest the full $15,000 each trip or
$3,000 per trip or somewhere in between?
-- In vpFREE@yahoogroups.com, "bornloser1537" <bornloser1537@y...>
wrote:
···
Go to the "Bankroll" links at this site. There are some very
useful "tools" and tables accessible there, to help answer your
questions.
Depending upon which table you used, I believe (can others help?) that this means that
there is a 5% ROR, i.e., losing the $15,000, over a lifetimes of play.
This is where the fuzziness comes in (I think!) with some people playing "trip by trip" or "a
lifetime".
Pragmatically, I would suspect that you do not lose the entire $15,000 on a single trip (of
course, you may...you may also come out far ahead). Thus your next trip, you would have
less that $15,000 or more than $15,000. Over your lifetime of play, the whole $15,000
has a 5% chance of going away.
I know this is a "fuzzy" answer, but dealing with small number statistics (several trips of
several days each) that is the best that one can do with probablility and statistics, upon
which the ROR computations are based. It is only when you get into BIG numbers, i.e.,
tens of millions of hands played, do you start to get on solid ground.
This answer might not help, but I tried. LOL.
Anyway, I am waiting for the Dunbar VP software which seems to be designed to give more
specific trip by trip numbers for specific playing strategies.
.....bl
···
--- In vpFREE@yahoogroups.com, "dwtx01" <dwtx01@y...> wrote:
Thank you for the reference to the links. Using some of the
calculators, I compute I will need a bankroll of approximately
$15,000 to have a 10% Risk of Ruin playing the games I like to
play.To continue with my stupid questions, if I go on 5 gambling
trips a year, do I take and invest the full $15,000 each trip or
$3,000 per trip or somewhere in between?-- In vpFREE@yahoogroups.com, "bornloser1537" <bornloser1537@y...>
wrote:
>
> Go to the "Bankroll" links at this site. There are some very
> useful "tools" and tables accessible there, to help answer your
> questions.
You could run a lot of simulations on FVP or WinPoker for the
game(s) and # of hands you'll be playing on a single trip. This
will give you a feel for the worst negative swings you're likely
to experience.
vpFae
···
On 29 Dec 2005 at 22:46, dwtx01 wrote:
I compute I will need a bankroll of approximately
$15,000 to have a 10% Risk of Ruin playing the games I like to
play.To continue with my stupid questions, if I go on 5 gambling
trips a year, do I take and invest the full $15,000 each trip or
$3,000 per trip or somewhere in between?
If you can be more specific about the game + cashback you are
playing, I can give you some precise 2-day trip bankroll info.
For example, a 25c JOB game with .62% cashback would fit your
general discription. ($15,000 to have a 10% longterm RoR--I'm
assuming you meant longterm RoR) But you don't need anywhere near
$3K for a 2-day trip playing that game. With $1000 your RoR for 20
hours of 500 hands/hr is less than 1%.
--Dunbar
···
--- In vpFREE@yahoogroups.com, "dwtx01" <dwtx01@y...> wrote:
Thank you for the reference to the links. Using some of the
calculators, I compute I will need a bankroll of approximately
$15,000 to have a 10% Risk of Ruin playing the games I like to
play.To continue with my stupid questions, if I go on 5 gambling
trips a year, do I take and invest the full $15,000 each trip or
$3,000 per trip or somewhere in between?-- In vpFREE@yahoogroups.com, "bornloser1537" <bornloser1537@y...>
wrote:
>
> Go to the "Bankroll" links at this site. There are some very
> useful "tools" and tables accessible there, to help answer your
> questions.
As my dear departed mother-in-law always told me, "let your
pocketbook be your guide." My wife is actually chuckling at this
response.
···
--- In vpFREE@yahoogroups.com, "dwtx01" <dwtx01@y...> wrote:
Thank you for the reference to the links. Using some of the
calculators, I compute I will need a bankroll of approximately
$15,000 to have a 10% Risk of Ruin playing the games I like to
play.To continue with my stupid questions, if I go on 5 gambling
trips a year, do I take and invest the full $15,000 each trip or
$3,000 per trip or somewhere in between?
dwtx01 wrote:
I have what may be a stupid question about bankroll requirements. On
a two day gambling trip playing $1 VP how much should I take and be
prepared to lose? I have been stopping at losses of approximately
2K.
I am wondering if I am putting enough coin in to have a chance at a
positive result for the trip. For 2006, I am considering fewer trips
with higher per trip limits. Can someone please help me sort through
this? Many thanks.
I'm going to drop a few comments here that will approach your post
from a modestly different angle than other replies. To be honest, my
comments may not be entirely desired by you and you're welcome to
disregard them. But, be assured they're intended constructively.
There are aspects of your post that suggest that you might well be
better off playing at lower denominations ... at least for the time being.
I'm not suggesting for a moment that it's the case that you're not
appropriately bankrolled for $1 play. In fact, when you later note
that a calculator to which you were referred to suggests a 10% risk of
ruin bankroll requirement of $15,000 for your desired $ play, you
don't seem to balk ... so there's some indication that you're prepared
for the $ denom play swings. (As an aside, I'm personally fairly risk
averse and am far more comfortable playing at a fraction of that ROR
value.)
The real focus of my feedback here is that it would appear that your
overall vp experience is more limited than what I'd recommend as a
precursor to higher denomination play. I'd suggest you should spend a
decent amount of time limiting yourself to quarter play.
Again, the point isn't that you don't have the bankroll to play $'s.
But, thoroughly cutting your teeth on quarters will prepared you so
that you have a strong gut-level sense when it comes to play. And
it's common sense that if you have a good grasp of the ins-and-outs of
quarter play from solid experience, you need only multiply the numbers
by 4 to know what to expect at the $ level.
FWIW, I can grasp that $1 play, with it's correspondingly higher comp
levels and recognition from a casino, is attractive. But, we're
talking about risking major bucks. It's my nature to desire in doing
so that I'm playing with a full deck (after sifting out the jokers ;).
- Harry
Excellent and thoughtful advice from Harry. Harry gave me the same
advice some time ago when I was considering moving to $ play from
quarters. I took his advice to heart but still scheduled just onr $
trip at the LVH. My wife happen to hit a Royal right away but we
soon moved back to .25 when we saw how much it would cost to "play
through" the bottom side.
We have found that .50 cent play gets us the increased star
treatment that we were looking for without the vunerability that the
$ play brings. So we look for multi game / multidenom machines that
offer the .50 play on good games with decent cash back. It's still
expensive but much easier to figure how much bank roll will usually
work - because, like Harry says, I played .25 for many years. Now I
just double everything - and I have to expect to lose twice as much
as I would with the .25 play once in a while. But it works for us.
Brian
--- In vpFREE@yahoogroups.com, "Harry Porter" <harry.porter@v...>
wrote:
dwtx01 wrote:
> I have what may be a stupid question about bankroll
requirements. On
> a two day gambling trip playing $1 VP how much should I take and
be
> prepared to lose? I have been stopping at losses of
approximately
> 2K.
> I am wondering if I am putting enough coin in to have a chance
at a
> positive result for the trip. For 2006, I am considering fewer
trips
> with higher per trip limits. Can someone please help me sort
through
> this? Many thanks.
I'm going to drop a few comments here that will approach your post
from a modestly different angle than other replies. To be honest,
my
comments may not be entirely desired by you and you're welcome to
disregard them. But, be assured they're intended constructively.There are aspects of your post that suggest that you might well be
better off playing at lower denominations ... at least for the
time being.
I'm not suggesting for a moment that it's the case that you're not
appropriately bankrolled for $1 play. In fact, when you later note
that a calculator to which you were referred to suggests a 10%
risk of
ruin bankroll requirement of $15,000 for your desired $ play, you
don't seem to balk ... so there's some indication that you're
prepared
for the $ denom play swings. (As an aside, I'm personally fairly
risk
averse and am far more comfortable playing at a fraction of that
ROR
value.)
The real focus of my feedback here is that it would appear that
your
overall vp experience is more limited than what I'd recommend as a
precursor to higher denomination play. I'd suggest you should
spend a
decent amount of time limiting yourself to quarter play.
Again, the point isn't that you don't have the bankroll to play
$'s.
But, thoroughly cutting your teeth on quarters will prepared you so
that you have a strong gut-level sense when it comes to play. And
it's common sense that if you have a good grasp of the ins-and-
outs of
quarter play from solid experience, you need only multiply the
numbers
by 4 to know what to expect at the $ level.
FWIW, I can grasp that $1 play, with it's correspondingly higher
comp
levels and recognition from a casino, is attractive. But, we're
talking about risking major bucks. It's my nature to desire in
doing
so that I'm playing with a full deck (after sifting out the
jokers ;).
···
- Harry