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AlanMendelson
AlanMendelson
Joined: Oct 5, 2011
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May 15th, 2013 at 7:31:11 AM permalink
Quote: Ahigh

after depositing my bankroll, I lost the remaining bankroll all in one session tonight.



I wouldn't feel bad about this Ahigh. You deposited $3,000 and in the interim you had a lot of fun, didn't you? That's what gambling should be -- fun -- and you had it. You got a few comps along the way, too. You also got to do what you enjoy doing -- playing craps. And you had a few thrills. You got to enjoy life.

I recall with fondness something a few slot floor people once said to me as we were discussing big wins and payoffs: every big payoff to a player is just a short term loan from the casino to the player that will be repaid with interest.

And that's pretty much true. Sure there are a few (a very few) who can claim to be consistent winners or get lucky and hit some mega jackpot that keeps them in the plus column for a long time, but the rest of us should look at the game -- all games -- as a chance to have a thrill and to realize we have to pay for it along the way.

And you will be back to play again. You will start with a new bankroll, or maybe you'll just dip back into that $3K you deposited. You might win, you might lose. But if you can, at the end of the day, say you enjoyed yourself then nothing else matters. When gambling isn't fun anymore, then you shouldnt gamble.
Ahigh
Ahigh
Joined: May 19, 2010
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May 15th, 2013 at 7:37:08 AM permalink
Thanks for the kind words, Alan.

Kelly has been very supportive of me, and she had been encouraging me to bet bigger. I did bet more than single odds right off the bat and the first $500 went pretty quick as a result on regular craps.

But I told her yesterday in a text message that I wasn't ready to bet bigger and I didn't want to lose it at the table, and that is why I deposited it. So I did the right thing, except that I should have stuck with single odds instead of being more agressive with a smaller bankroll.

I need to focus more on work. This play in the casino has become a real time consumer. I'm beyond even my regular insane schedule of playing craps. I am posting on this forum way too much and I am spending way too much time playing craps at the casino.

I only have a couple hundred bucks per paycheck allocated to myself for spending/gambling money, so it might even be a couple of months before I have another four figure bankroll.

It's just break time for me.
TIMSPEED
TIMSPEED
Joined: Aug 11, 2010
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May 15th, 2013 at 7:41:51 AM permalink
Switch to +ev video poker ;)
Gambling calls to me...like this ~> http://www.youtube.com/watch?v=4Nap37mNSmQ
AlanMendelson
AlanMendelson
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May 15th, 2013 at 7:42:20 AM permalink
Let me make this suggestion: use my new "craps betting strategy" and go to a casino with the fire bet. Bet the passline minimum and bet the fire. If you're good -- or if your lucky -- you can make big money with a minimum initial outlay. Anyone who believes that they are a DI should savor this invitation to make big money. There are casinos where the passline is $10 with a $10 max on the fire.
Ahigh
Ahigh
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May 15th, 2013 at 7:51:04 AM permalink
Not a bad suggestion, but I'm still not ready to bet the fire bet. Most of the tables I prefer to play don't even have fire bets, but that's a great suggestion, and thanks.
MrV
MrV
Joined: Feb 13, 2010
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May 15th, 2013 at 7:52:35 AM permalink
Quote: Ahigh


I need to focus more on work. This play in the casino has become a real time consumer. I'm beyond even my regular insane schedule of playing craps. I am posting on this forum way too much and I am spending way too much time playing craps at the casino.

I only have a couple hundred bucks per paycheck allocated to myself for spending/gambling money, so it might even be a couple of months before I have another four figure bankroll.

It's just break time for me.



So then, does that mean you won't be shooting craps with us at CR after lunch at Sugar Factory at WoVCon later this month?
"What, me worry?"
EvenBob
EvenBob
Joined: Jul 18, 2010
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May 15th, 2013 at 12:12:36 PM permalink
Quote: Ahigh



I only have a couple hundred bucks per paycheck allocated to myself for spending/gambling



So sell some bitcoins/gold/silver or whatever else
you have investments in. You have the edge at
craps, right? Right?
"It's not enough to succeed, your friends must fail." Gore Vidal
Ahigh
Ahigh
Joined: May 19, 2010
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May 15th, 2013 at 1:17:16 PM permalink
Quote: EvenBob

So sell some bitcoins/gold/silver or whatever else
you have investments in. You have the edge at
craps, right? Right?



No I sold my BitCoins a few days ago and I started the process to get them to my checking account today.

I still have about $800 cash of discretionary funds left, and all my bills and credit cards are paid off. Just the phase of carrying around $2,000 to $4,000 in cash is over. I can still do buy-ins for $100 to $300.

Right now I'm waiting for MtGox to approve my wells fargo routing and account number for withdrawing money. I have $490 US cash in MtGox from $280 I started with.
EvenBob
EvenBob
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May 15th, 2013 at 1:36:15 PM permalink
Quote: Ahigh

Just the phase of carrying around $2,000 to $4,000 in cash is over.



If you're just flat betting craps, why would you
need to carry that much cash. Its silly.
"It's not enough to succeed, your friends must fail." Gore Vidal
Ahigh
Ahigh
Joined: May 19, 2010
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May 15th, 2013 at 1:42:13 PM permalink
Quote: EvenBob

If you're just flat betting craps, why would you
need to carry that much cash. Its silly.



I was going up and down four figures flat betting on 10x tables with a come bet on every roll. I covered every corner I made from $3200 to $3500 to $2200 to $4000. Flat betting the come bet with max odds requires a bankroll is the short answer. And after I reduced to $1,000 my bankroll wasn't big enough. Not complicated, and you can see the swings in my charts. Even flat betting with 10x odds with a slight edge, $1 per roll profit is about all I expect to get in return for the rollercoaster ride of minimum edge with 10x odds on a $5 table.

http://wizardofvegas.com/forum/off-topic/big-wins/13896-up-four-figures-in-craps/2/#post240306

The only difference between what happened last night losing and what happened a few days prior is that I didn't have the bankroll to swing down and back up over $1,000 like I did at the Plaza and Las Vegas club TWICE in TWO HOURS.

On the roller-coaster ride pictured above, I even lost a little bit, but not that much if you count the comp.

You do know about 10x max odds on flat betting and the volatility there, right? I'll be honest with ya, this is not my normal style. I typically grind up on very low volatility and mathematical house edges closer to 0.4% to 0.5% per roll for each bet I take (not much odds, just placing the 8 mostly).

Even if I *was* playing with an advantage throw, I still have to have the bankroll to employ the level of odds I'm trying to use to maximize my long term profit. Short term losses are just part of the way that it is done. Maybe the Wizard or someone else can explain more if you don't understand. It's a pain though. Tough to keep your emotions in check.

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