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lilredrooster
lilredrooster
Joined: May 8, 2015
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July 8th, 2017 at 2:20:32 PM permalink
Quote: pwcrabb



The original Nick the Greek played Craps on the Dark side, but he had much better sense than you have regarding bankroll exposure per outcome.


Nick the Greek lasted a long time but he eventually tapped out. He died broke. In his last days he was playing in $5 limit draw poker games. I read his biography. Great read. An amazing character.
Last edited by: lilredrooster on Jul 8, 2017
everybody wants to go to heaven but nobody wants to die
OnceDear
OnceDear
Joined: Jun 1, 2014
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July 8th, 2017 at 2:32:24 PM permalink
Quote: ssscj80

I just want some advice for the future reference of when to cut my losses and run.


Hi,
Well. you already had some great advice about how stop losses, sessions and win goals don't mean a thing.
So, start with the premise that you have a limited entertainment budget and that you are buying entertainment time and an adrenaline rush or two. Some guys use maths, lots of care and actually aim to profit, long term, but you are not in that group if you are playing Baccarat.
I play Blackjack for similar entertainment. My casino is about 20 mins away, so my objective is to generally. . .
Get an hour or two of fun. At least two free drinks and a good laugh. I like to get a bit of the adrenaline from an occasional bigger bet.
My anticipated average loss is about £25 for that hour. That being either complete loss of my £150 session bankroll, or doubling or maybe more that bankroll, or ending an hour or two roughly even. The time limit is the measure. You wouldn't want to sit through a 5 hour film, and you wouldn't be pleased to just watch a 10 minute stage show. So aim for a session that fits your needs and pace your betting to fit that.
All of my expected outcomes are equally acceptable, and I realise that playing that way will tend to have about as many winning sessions as losers and that I'd be pretty gutted if half a dozen consecutive sessions had me go bust but it's all play money. The big error I could make, ( and we see it a lot ) would be to get ahead a bit and up my bets. That's destined to see me never walk out with a profit.
If you feel bad, or cannot afford to happily lose your session bankroll, you simply shouldn't be there at all.

Bet size. There's one guy frequents the casino that plays one £10 chip on roulette 0 as his single bet. That doesn't strike me as fun or worth the car journey. I find that with my modest session bankroll of maybe £150, I can tick over for an hour or two before busting or not busting, if my average bet is 1x or 2x table min of £5.
Some times I crash and burn in 20 minutes, sometimes I walk out with £300, which is just money to play with next time round.

Just don't ramp up your bets just because you win or lose. That's the road to ploppie oblivion.
Embrace the Variance
MrV
MrV
Joined: Feb 13, 2010
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July 8th, 2017 at 2:32:41 PM permalink
John Patrick advised that if at any time you lose "three in a row, time to go."
"What, me worry?"
MrV
MrV
Joined: Feb 13, 2010
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July 8th, 2017 at 2:32:41 PM permalink
John Patrick advised that if at any time you lose "three in a row, time to go."
"What, me worry?"
DJTeddyBear
DJTeddyBear
Joined: Nov 2, 2009
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July 8th, 2017 at 6:36:54 PM permalink
Since it's a negative expectation game, duh, you should expect to lose.

As such, the best advice, is to never enter a casino.

Realistically, gambling is supposed to be entertainment and fun. You should cut your losses and run when it is no longer fun.
Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? Note that the same could be said for Religion. I.E. Religion is nothing more than organized superstition.
mustangsally
mustangsally
Joined: Mar 29, 2011
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July 8th, 2017 at 8:24:18 PM permalink
Quote: ssscj80

<snip>the Wizard has which says to be ready to loose (paraphrasing).

exactly
Why?
the house edge!
the only difference is how long it takes to go broke.

I simulated this B4
1 million players with $1000 bankroll
all 1 million lost their bankroll
some faster than others
but ALL were wiped out
(do not feel bad)

also doing just pass/come bets too.

bottom line
you are playing a game that is not fair.

play for fun
variance can B fun, can be horrible too.

thank you for sharing
Sally
I Heart Vi Hart
boymimbo
boymimbo
Joined: Nov 12, 2009
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July 9th, 2017 at 7:56:52 PM permalink
Craps, like Blackjack, when played properly, can of course be won in the long term. It's called variance. You can bet on 10,000 rolls and come out a winner playing pass / come / don't pass / come. It's not likely but it's certainly more than possible. It's your preference really. Difficult to win in the long run when you're playing the middle.

There are lots of ways you can make money playing craps. It's called collusion.

Get to know a dealer. Play with the dealer. Offer him/her a cut.

The "Bellagio method":
Mumble your calls just before a roll. The dealer will book the call when the dice land and pay you.

The "Wynn method":
Put your dice on table and slide them down. Tip outrageously so that nobody cares.

There has to be more creative methods out there beside winning honestly.
----- You want the truth! You can't handle the truth!
rushdl
rushdl
Joined: Jan 15, 2016
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July 9th, 2017 at 8:22:59 PM permalink
Hi,
1 thing to help get you out of/avoid a loss situation: (not the only thing, just one important thing)

-Find a personal formula/method of labeling a hot shooter as a hot shooter so you can stop betting against them. This means get out. Wait for the next shooter, and get back in. It could mean get out, and wait for the next shooter, or something else. It could mean wait for something to happen, then get back in. You choose. This doesn't mean being psychic, and going on feeling, or vibes.

*some will not bet again after the first point is won (and they lose their bet) this is their hot shooter label and they want no further part in it. (most common)
*some will only allow themselves up on 2 DontCome numbers at a time. Some allow three. (both are common) You choose.
*some will martingale up to a certain point, about 7 losses. (least common)
*make your own triggers to label a hot shooter, and get out

Hope that helps,
I am not a teacher, I do not teach, and do not come here to "share" my skillz but I just felt like sharing one of the probably top-5 things that help Don't Pass.

Good luck, take chances, live dangerously. This is the only place where that works.
NokTang
NokTang
Joined: Aug 15, 2011
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July 10th, 2017 at 5:43:32 AM permalink
Quote: lilredrooster

"that which can be asserted without evidence can be dismissed without evidence."

your bogus claims are dismissed. you are unbelievably touting MAGIC numbers. why don't you give everybody a break dude.



It works. It's boring. Try it, maybe you'll like it.
Romes
Romes 
Joined: Jul 22, 2014
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July 10th, 2017 at 8:05:28 AM permalink
Quote: mustangsally

...bottom line
you are playing a game that is not fair.

I thought you used to make a point of saying you could and you (personally) have beaten craps? =)
Playing it correctly means you've already won.

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