Thanks for the replies to my money management question. Perhaps I
need to rephrase my question. I think I now understand why this
subject is never discussed. I have been playing vp almost since they
first appeared in Vegas 20 years ago and am in town about 10 times a
year for anywhere from 1 to 3 weeks at a time. I budget and schedule
my gambling for both the entire trip and each individual day and
session.
The advice not to "chase" is hard for me to understand. If I put a
$10 bill in a machine I am "chasing" $10,same for a $100 or $1000.
If changing machines is not part of money management,should I budget
$1000 at each .25 machine I sit down at? The 1:1 risk reward ratio
doesn't sound good to me.
Back when all vp was JoB and the machines didn't hold credits I would
buy $40 in quarters put them,scoop out the winnings,cash them out and
move on to another machine.
I currrently play JoB or BP until I get a 4k,play to the next $50
plateau(up or down) and move on. When playing DB,DDB,triple plays I
risk up to $300 per machine and cash out at $500. I quess my question
would be is this too aggressive or passive amount to "chase" at each
machine?---CAF
$management/bankroll/etc.
Your approach is neither too aggressive or too passive, it is absolutely perfect.
I say this because if you believe as I do that the machines are honest, and each hand is a random event then it doesn't matter when or if you switch machines .
If switching when you do feel right , then it is correct for you.
It is really that simple.
The only thing I can say about money management is don't go over your self imposed limit, and make the money you have budgeted for your trip (if you have a trip budget, I don't) last for your trip.
Regards
A.P.
···
----- Original Message -----
From: cafrith
To: vpFREE@yahoogroups.com
Sent: Sunday, September 21, 2003 8:25 PM
Subject: [vpFREE] $management/bankroll/etc.
Thanks for the replies to my money management question. Perhaps I
need to rephrase my question. I think I now understand why this
subject is never discussed. I have been playing vp almost since they
first appeared in Vegas 20 years ago and am in town about 10 times a
year for anywhere from 1 to 3 weeks at a time. I budget and schedule
my gambling for both the entire trip and each individual day and
session.
The advice not to "chase" is hard for me to understand. If I put a
$10 bill in a machine I am "chasing" $10,same for a $100 or $1000.
If changing machines is not part of money management,should I budget
$1000 at each .25 machine I sit down at? The 1:1 risk reward ratio
doesn't sound good to me.
Back when all vp was JoB and the machines didn't hold credits I would
buy $40 in quarters put them,scoop out the winnings,cash them out and
move on to another machine.
I currrently play JoB or BP until I get a 4k,play to the next $50
plateau(up or down) and move on. When playing DB,DDB,triple plays I
risk up to $300 per machine and cash out at $500. I quess my question
would be is this too aggressive or passive amount to "chase" at each
machine?---CAF
[Non-text portions of this message have been removed]
Someone else replied about the chase so I'll just answer the
bankroll question.
It seems like I saw a chart that showed around a 98-99% risk of
ruin. This means with X dollars you will start making money on a
positive expectation machine 98%-99% of the time. Or you will lose
your bankroll only 1% of the time.
If I remember it was for Deuces Wild and was:
$4000 for quarter machines
$12,000 for dollar machines
$60,000 for five dollar machines
Anyone else remember reading this?
The first reply to this post included links to a program that tells
you how much money you will make or lose on a certain game with a
certain bankroll. You can use that to determine your risk of ruin.
As for money managment being a myth well what I think he means is,
it is a game we play with ourselves based on how we like to gamble.
You can do it however you want. I ask myself what is the most I can
spend over the time I'm there. Then I divide the days by the
amount. Example, if I have $900 for three days then I'll stop each
day when I lose $300. Some people might want to get all the
gambling out of their system and just blow all $900 in one day. I
like to make sure I have some for each day.
There are no set amounts because a losing streak could keep eating
your bankroll for days or weeks. You might run out of money before
you get the 4k and move up.
Thanks for the replies to my money management question. Perhaps I
need to rephrase my question. I think I now understand why this
subject is never discussed. I have been playing vp almost since
they
first appeared in Vegas 20 years ago and am in town about 10 times
a
year for anywhere from 1 to 3 weeks at a time. I budget and
schedule
my gambling for both the entire trip and each individual day and
session.
The advice not to "chase" is hard for me to understand. If I put a
$10 bill in a machine I am "chasing" $10,same for a $100 or $1000.
If changing machines is not part of money management,should I
budget
$1000 at each .25 machine I sit down at? The 1:1 risk reward ratio
doesn't sound good to me.
Back when all vp was JoB and the machines didn't hold credits I
would
buy $40 in quarters put them,scoop out the winnings,cash them out
and
move on to another machine.
I currrently play JoB or BP until I get a 4k,play to the next $50
plateau(up or down) and move on. When playing DB,DDB,triple plays
I
risk up to $300 per machine and cash out at $500. I quess my
question
would be is this too aggressive or passive amount to "chase" at
each