My money vs. Casino's money

[Barry_Glazer]

6c. Re: My money vs. Casino's money
Posted by: "Jean Scott" queenofcomps@cox.net queenofcomps
Date: Tue Jan 6, 2009 3:29 pm ((PST))

Most VP players are underbankrolled, even most advantage players.
Therefore, those players would see a "smoother" ride if they first
determined what bankroll they need to play the denomination they want. (And
it is usually a lot more than they think.) And any jackpots should go into
growing that too-small bankroll, NOT to going up in denomination. Jumping
around in denomination when you are underbankrolled even for the lowest one
is a recipe for a roller coaster ride that can prove fatal - meaning you
will go broke and often VERY quickly.

I'm not saying what you MUST do. Some players love the feeling of living
dangerously close to the edge of ruin. But if you want to make your fun
last longer as a recreational gambler or if you want to have a better chance
of lasting longer as an advantage player with more time to get to the
positive long-term, you will concentrate on building your bankroll to the
proper level BEFORE you ever go up in denomination.

Boy is this 100% true!!! IF you are playing at an appropriate denomination for the games you choose and the bankroll you have, a single big payout is not going to raise your bankroll to a level where you should go up in denomination - unless you had already grown that bankroll to a point where it was on the cusp of "moving up" anyway.

To move up in denomination when not adequately bankrolled, is just a strategy to increase the chances that, having hit a big win, you will not hold on to the money in the long run.

If, on the other hand, you operate NOT according to an overall VP bankroll, but just on trip bankroll, then a single big pay might justify going up in denomination -- but you need to understand that trip bankroll is more of a personal money management tool, an not really the appropriate bankroll to look at -- that would be your overall gambling / VP bankroll.

Of ccourse, many people do NOT gamble out of a gambling bankroll. They re-fund their bankroll when necessary from other sources, e.g. vacation money. They are not operating according to sound money management theories for growing a gambling bankroll, or in losing games, for making one last as long as possible.

I myself did not worry about gambling bankroll when I had a day job, since it was more than adequate to re-stock my gambling bankroll for trips when it got low -- but in retirement, the opportunities to re-stock are substantially reduced, so I need to make it last. This meant going down in denomination, as my previous level of play was higher than my bankroll could support. I've been on a losing streak, and am probably ripe for another downgrade in denomination until I can build it up again.

If I don't manage my money correctly, I will need to find something else to do for recreation at some point in the future.

As always, some people would rather increase their risk of loss in order to increase the thrill of playing -- but they should understand that when you increase your risk of loss, that you have an increased risk of losing

Sure, if you get lucky, you can score big. But if "getting lucky" is your strategy, you might as well be buying lottery tickets or playing "regular" slots to shoot for an unlikely, but big, jackpot.

--BG

···

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[Steve2]

Again, I think the difference between what most of you are saying and
how I'm looking at it is that I only (casino) gamble a couple of
times a year. The bankroll that I allocate for a trip is what I am
comfortable explaining to my wife! I'm lucky enough to have the
money (despite those unfair U.S. taxes!) to be able to afford much
more than what I allocate. So there is no "risk of ruin" and no need
to worry about the long-term bankroll. I have a set amount of money
to use on the trip. How I do doesn't really impact the future trips
at all. So if I find myself ahead (or even close to where I started
towards the end of my trip) I can allow myself to take a shot at the
big win.

An example was last June at Planet Hollywood. I had never been there
before. I played some quarer or 50 cent DDB and hit several quads to
find myself up $800 or $1000. This was my last few hours in Vegas,
and I was already up so I put $500 into a $5 JoB machine. I was
fairly lucky and was able to play it for at least an hour before
losing the $500 (or maybe cashing out a hundred or two, can't
remember). But it was fun - especially when I was dealt 4 to the
royal and had a few seconds to think about a $20K jackpot - and I
figured the level of play might help me get some offers from PH later
on (hasn't really happened!). I wouldn't have taken the shot at the
$5 game if I hadn't already won some money because I didn't want to
risk losing $500 in a hurry and walking out the door down after 10
minutes.

I think the key (as with many of the statements on this site
like "only play positive situations") is what your individual
situation is. For me, I can afford to lose my entire trip bankroll,
but my 2 main goals are to make it last the trip and to take a shot
at a "big" win if I have a chance. For me, a significant win would
probably be defined as over $10K. Not that I would not be happy
coming home with $2K or $5K, but I'd be more likely to risk some of
that in search of a more meaningful win. I also try to find the best
games I can, but subject to other factors like entertainment value,
what my friends want to do, etc. This is why I will play games with
a larger house edge like Roulette or play 9/6 DDB because I like the
jackpot potential or I don't want to seek out the higher paying games
at other casinos. And I used to do the same thing when I had a much
smaller trip bankroll, but it was much harder then when cutting back
meant looking for good nickel games and tables with less than $5
minimums!

So I understand the original point and agree that it would be good
advice for most people, but I do think there are exceptions to nearly
every rule.

> 6c. Re: My money vs. Casino's money
> Posted by: "Jean Scott" queenofcomps@... queenofcomps
> Date: Tue Jan 6, 2009 3:29 pm ((PST))
>
> Most VP players are underbankrolled, even most advantage players.
> Therefore, those players would see a "smoother" ride if they

first

> determined what bankroll they need to play the denomination they

want. (And

> it is usually a lot more than they think.) And any jackpots

should go into

> growing that too-small bankroll, NOT to going up in denomination.

Jumping

> around in denomination when you are underbankrolled even for the

lowest one

> is a recipe for a roller coaster ride that can prove fatal -

meaning you

> will go broke and often VERY quickly.
>
> I'm not saying what you MUST do. Some players love the feeling of

living

> dangerously close to the edge of ruin. But if you want to make

your fun

> last longer as a recreational gambler or if you want to have a

better chance

> of lasting longer as an advantage player with more time to get to

the

> positive long-term, you will concentrate on building your

bankroll to the

> proper level BEFORE you ever go up in denomination.

Boy is this 100% true!!! IF you are playing at an appropriate

denomination for the games you choose and the bankroll you have, a
single big payout is not going to raise your bankroll to a level
where you should go up in denomination - unless you had already grown
that bankroll to a point where it was on the cusp of "moving up"
anyway.

To move up in denomination when not adequately bankrolled, is just

a strategy to increase the chances that, having hit a big win, you
will not hold on to the money in the long run.

If, on the other hand, you operate NOT according to an overall VP

bankroll, but just on trip bankroll, then a single big pay might
justify going up in denomination -- but you need to understand that
trip bankroll is more of a personal money management tool, an not
really the appropriate bankroll to look at -- that would be your
overall gambling / VP bankroll.

Of ccourse, many people do NOT gamble out of a gambling bankroll.

They re-fund their bankroll when necessary from other sources, e.g.
vacation money. They are not operating according to sound money
management theories for growing a gambling bankroll, or in losing
games, for making one last as long as possible.

I myself did not worry about gambling bankroll when I had a day

job, since it was more than adequate to re-stock my gambling bankroll
for trips when it got low -- but in retirement, the opportunities to
re-stock are substantially reduced, so I need to make it last. This
meant going down in denomination, as my previous level of play was
higher than my bankroll could support. I've been on a losing streak,
and am probably ripe for another downgrade in denomination until I
can build it up again.

If I don't manage my money correctly, I will need to find something

else to do for recreation at some point in the future.

As always, some people would rather increase their risk of loss in

order to increase the thrill of playing -- but they should understand
that when you increase your risk of loss, that you have an increased
risk of losing

Sure, if you get lucky, you can score big. But if "getting lucky"

is your strategy, you might as well be buying lottery tickets or
playing "regular" slots to shoot for an unlikely, but big, jackpot.

···

--- In vpFREE@yahoogroups.com, b.glazer@... wrote:

--BG

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