Big Win - What Would You Do?

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Quote: thecesspit

Bob, Bob, Bob... why would you waste good money after bad?

Sigh...........

Quote: Wizard

I admit I have a weakness for poker, and have a hard time getting up from a table even if I know it is a negative game, whether it be stronger opponents or the rake. I wrote about it in my May 10 blog entry.

Quote: odiousgambit

I am struggling to comprehend how that woman gets any respect from the Wizard [g]. Say it ain't so, Wiz!

Well, I only know about her because my wife watches her sometimes. From what I've seen, I think her advice is very sound. At the risk of going off on a tangent, why the animosity towards Suze?

Poker is interesting because for a few players it can be positive expectation game but for most players do to the rake it is a negative expectation game.

Great thought and question! We all know what the obvious answere should be, but how many of us have the management and will power to do the right thing which would be number 3. haha just kidding number 2.

Casinos are in business mainly because most people can not manage their bankrolls and winnings/losings well. People expect to lose when they walk into a casino. They hope to win a large amount of money usually with a fraction of what they walk in with. In other words, a 25% gain would be laughable to most because they want to make a 300% or 500% etc return. That is not in your favor. How many times have you been up 25% or 50%? Probably a good portion of your times. Then even if you do get to say triple your money... for anyone to say that they are now playing with the house's money is absolutely stupid. If you win it and it is in your hands... its your money! You must walk away when you are up. Be realistic. And make sure you cash out lots of single dollar bills for the strip joints!

I would pay off my one nagging credit card bill, my smallest student loan, a few months towards my car. The rest would go into my bankroll. The thing is my bankroll is always small, a few hundred dollars, and only comes around once a quarter when I get my profit share check. To triple that wouldn't be a big win to me, I'd need to increase it ten fold I think.

Give it all to Cocktail Doll and Cocktail Princess.

I've already bought two smaller but dependable cars with my big hits in the 90's and 00's. Worth every penny not spent ;o)

Had this very thing happen today. Turn/Rivered a Royal at UTH, with 5$ on each Trips and blind bets, for a 2750$ win. Starting session money was 250. I got my check and left. 500$ goes to bankroll, 200 takes the dogs to groomers, 50 on dinner for me and the remainder pays off bills. Completely wipes out 4 small credit cards with various balances and my remaining student loan balances. It will be nice to not have to write those checks in March!

Quote: chefphydeaux

Had this very thing happen today. Turn/Rivered a Royal at UTH, with 5$ on each Trips and blind bets, for a 2750$ win. Starting session money was 250. I got my check and left. 500$ goes to bankroll, 200 takes the dogs to groomers, 50 on dinner for me and the remainder pays off bills. Completely wipes out 4 small credit cards with various balances and my remaining student loan balances. It will be nice to not have to write those checks in March!

Congrats! Still waiting for one of those...

I'd choose #1 without a doubt. I wouldn't play any differently (i.e. raising my avg bet or blowing it to get a bigger win or on some gaudy material object), further, If I had a significant amount of nagging debt, I wouldn't be gambling in the first place. Therefore the Suze Orman debate should be a moot point cuz she'd probably tell you to not gamble in the first place, especially if you have debt to pay off. I'd love to hear her respond to a caller that has debt and asks what he should do with gambling winnings, lol.

1) tip the dealer graciously
2) share the wealth with your friends who are on the trip with you and gambling just as much (i.e. buy em all a nice steak dinner)
3) seperate the money to use on your next trip to vegas.