In a message dated 07/01/05 11:45:40 AM Eastern Standard Time,
richard237m@mailaka.net writes:
Humm, Since Pick'em is a negative game, it seems U would lose Cash 5
times quicker???
Both PKM and 9/6 JOB are negative expection games. PKM returns 99.95% vs.
JOB 99.54%. Without the royal and sf in PKM you are around 99%. Without the
royal in JOB you are at 97.5%.
[Non-text portions of this message have been removed]
And PKM w/o the royal is 99.61%, not much better than full JOB at
99.54%, considering that by a million hands (or until one dies first)
one might not hit a PKM royal while they would certainly have a bunch
of JOB royals.
You have to have the right attitude!
I know several people that belong to the exclusive PE Royal club.
Even one person that got a royal on their first session (ancedotal
evidence).
All you need is the banroll. (A million hands = 3 royal cycles.)
At $25/hand x .4% = $.10/hand loss w/o Royal x 1,000,000 hands = $100K! --- In vpFREE_NewEngland@yahoogroups.com, "steviemcc1" <steviemcc1@y...> wrote:
And PKM w/o the royal is 99.61%, not much better than full JOB at
99.54%, considering that by a million hands (or until one dies first)
one might not hit a PKM royal while they would certainly have a bunch
of JOB royals.
Some interesting numbers but I would take it a bit further. The $100k
bankroll is based on 1M hands. If you play 2500 hands per PE session (625
hands for four hours) you would need to play 400 sessions to hit a million
hands. If you play 30 sessions a year it would take you over 13 years to
complete the cycle. Like you said, you may die first!
But on average your bankroll needs are $7500 per year. Of course, not the
best way to look at it since if you start playing $5PE with only $7,500 you
have a good chance of tapping out in your first session. My only point is
you don't need $100K in the bank to start.
-----Original Message-----
From: vpFREE_NewEngland@yahoogroups.com
[mailto:vpFREE_NewEngl…@…com] On Behalf Of haaljo
Sent: Saturday, July 02, 2005 1:07 PM
To: vpFREE_NewEngland@yahoogroups.com
Subject: [vpFREE_NewEngland] Re: Mohegan Trip report
You have to have the right attitude!
I know several people that belong to the exclusive PE Royal club.
Even one person that got a royal on their first session (ancedotal
evidence).
All you need is the banroll. (A million hands = 3 royal cycles.)
At $25/hand x .4% = $.10/hand loss w/o Royal x 1,000,000 hands = $100K! --- In vpFREE_NewEngland@yahoogroups.com, "steviemcc1" <steviemcc1@y...> wrote:
And PKM w/o the royal is 99.61%, not much better than full JOB at
99.54%, considering that by a million hands (or until one dies first)
one might not hit a PKM royal while they would certainly have a bunch
of JOB royals.
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You have to also consider the tax implications, as in CT, each $5
Pickem 4 of a kind is a 1099, which means CT gets 4% or so, which
cannot be offset with losses. Not to mention the impact on your
federal tax bracket, as your AGI increases with all the 1099s.
<<You have to also consider the tax implications, as in CT, each $5 Pickem 4
of a kind is a 1099, which means CT gets 4% or so, which cannot be offset
with losses.>>
No taxes were withheld from any of my jackpots when I played there. Are you
referring to CT residents?
According to "Tax Help for the Frugal Gambler," out of State residents
are exempt from State Taxes on Gambling Winners. That's if you are
fortunate to be a resident of a State that has little or no gambling
taxes (New Hampshire, Nevada, Texas, Florida and several others).
That Federal AGI increase can hurt!
--- In vpFREE_NewEngland@yahoogroups.com, "mrbillooo" <wjkomo@h...>
wrote:
You have to also consider the tax implications, as in CT, each $5
Pickem 4 of a kind is a 1099, which means CT gets 4% or so, which
cannot be offset with losses. Not to mention the impact on your
federal tax bracket, as your AGI increases with all the 1099s.
From the anecdotal evidence desk:
When I played $1 PKM in the old poker room, it took ~3.5 months
playing about once a week to hit my first quad, which has a cycle of
2360 vs 352K for a royal. If I have that same luck hitting a royal,
it would take me 43.5 years (assumming the game and same paytable
still exists in 2048), which is longer than my remaining life
expectancy. And when I last checked my piggy bank, I was several
million pennies short of $100K. So don't bother dusting off that red
carpet to the PE Royal club for me.