Big Win - What Would You Do?
May 13th, 2010 at 2:29:09 PM
permalink
Let's say you win it big at your favorite Las Vegas casino. Woo hoo! Say about three times what you usually bring with you to Las Vegas. (For example, if you bring $5,000 with you to Las Vegas to gamble with, you hit a $15,000 jackpot, hot streak, etc). What would you do with your big win?
1. Put the money back into your gambling bankroll or for another trip to Las Vegas?
2. Use it to pay bills?
3. Buy something expensive to help you remember your day of glory in Las Vegas?
4. Strip clubs?
5. Triple your average bet?
6. Blow it trying to get a bigger win?
Most gamblers understand that they are expected to lose at casinos, so when they do the exact opposite and win, they go a little crazy! What would you do?
1. Put the money back into your gambling bankroll or for another trip to Las Vegas?
2. Use it to pay bills?
3. Buy something expensive to help you remember your day of glory in Las Vegas?
4. Strip clubs?
5. Triple your average bet?
6. Blow it trying to get a bigger win?
Most gamblers understand that they are expected to lose at casinos, so when they do the exact opposite and win, they go a little crazy! What would you do?
May 13th, 2010 at 2:34:38 PM
permalink
You should add a bar graph poll to this one. My answer is absolutely (2). It makes the hair on the back of my neck stand up when I overhear somebody overbetting say they are doing so because it is just "the casino's money." Once you win something that money is no different than money earned. As Susie Orman would say, paying your bills and paying down debt should always be the highest priority.
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
May 13th, 2010 at 2:43:56 PM
permalink
Quote: WizardMy answer is absolutely (2). It makes the hair on the back of my neck stand up when I overhear somebody overbetting say they are doing so because it is just "the casino's money."
Although I absolutely agree, is the Wizard the only man alive who can't fall to temptation? On a bar graph I couldnt pick just one, #1 and #5 would have some pull if I was honest... at least for a portion of that money!
Bear in mind Gambling has less temptation for me than some, for example I have zero interest in slot machines.
Quote: WizardAs Susie Orman would say, paying your bills and paying down debt should always be the highest priority.
I am struggling to comprehend how that woman gets any respect from the Wizard [g]. Say it ain't so, Wiz!
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell! She is, after all, stone deaf. ... Arnold Snyder
May 13th, 2010 at 4:01:38 PM
permalink
I would invest half of it in low risk mutual funds and then take the other half over to my friend Asadulah who works in securities
May 13th, 2010 at 4:03:27 PM
permalink
Great Thread !
On a win like this (3x bankroll) I have already discussed this with my wife. We would take 30% and put it into our regular accounts, and use it for vacation, home improvement, bills, whatever. The point being we would try to get something out of it.
However, when the craps account runs dry, it gets funded from the regular account, so when all is said and done, I guess that means I just end up funneling all of the winnings back to the casino. The only way not to do that would be to quit playing, and as long as I have spare change and am able to take a breath, I want to play craps, even when the game treats me like crap.
On a win like this (3x bankroll) I have already discussed this with my wife. We would take 30% and put it into our regular accounts, and use it for vacation, home improvement, bills, whatever. The point being we would try to get something out of it.
However, when the craps account runs dry, it gets funded from the regular account, so when all is said and done, I guess that means I just end up funneling all of the winnings back to the casino. The only way not to do that would be to quit playing, and as long as I have spare change and am able to take a breath, I want to play craps, even when the game treats me like crap.
Always borrow money from a pessimist; They don't expect to get paid back !
Be yourself and speak your thoughts. Those who matter won't mind, and those that mind, don't matter!
May 13th, 2010 at 4:07:09 PM
permalink
At this point in my life, I would tuck it away and make it ensure me three more good trips before I have to dig into my savings for gambling again. Personally, I have a strict line between my gaming funds (also goes towards vacations) and my necessity funds and they don't cross.
Its - Possessive; It's - "It is" / "It has"; There - Location; Their - Possessive; They're - "They are"
May 13th, 2010 at 4:39:17 PM
permalink
About 8 years ago, at around 2am, the wife hit a straight flush on Let It Ride. She kept all three up, and was playing a bit above the minimum.
The hit was around $12,700. Our starting bankroll for the two of us was around $2,000!
We went to the cage, and got a check for around $11,000. The leftover was fun money for the next day, playing with higher bets, etc.
We didn't blow it all, but we certainly had some fun with it.
The hit was around $12,700. Our starting bankroll for the two of us was around $2,000!
We went to the cage, and got a check for around $11,000. The leftover was fun money for the next day, playing with higher bets, etc.
We didn't blow it all, but we certainly had some fun with it.
Maybe. He's also probably a lot closer to being a 'professional gambler' than the rest of us. That said, you can understand his point of view.Quote: odiousgambit....is the Wizard the only man alive who can't fall to temptation?
I invented a few casino games. Info:
http://www.DaveMillerGaming.com/
Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁
May 13th, 2010 at 4:51:18 PM
permalink
Quote: odiousgambitAlthough I absolutely agree, is the Wizard the only man alive who can't fall to temptation?
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: odiousgambitI 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?
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
May 13th, 2010 at 4:56:00 PM
permalink
Mine is a combination of 1 & 2 - if I truly hit it big, I'd want to use some of it to replenish the gambling bankroll and/or make it larger, but I love not having to deal with car notes, etc. If only I could win big enough to pay off the mortgage. ;)
-B
-B
May 13th, 2010 at 6:15:12 PM
permalink
Quote: WizardI 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 can help you with your game if youd like. ive been playing poker for 7yrs now and am a frequent poster on 2+2. we can meet up at suncoast to play then discuss hands afterwards. they only have a $3 rake there plus a $1 highhand drop. 2/4lhe, 4/8lhe, and 2/5nlhe are their usual games. just send me an email if youre interested to that same address i sent you that "Horns" basic strategy chart from.
May 13th, 2010 at 6:15:34 PM
permalink
If you win big without a prior plan, I suspect a fair sized chunk will end up back in the casino for a lot of people.
There's no way to know, but I suspect Megabucks winners throw back a couple thousand at least in a lot of cases.* (Megabucks being very unexpected I would say)
*but maybe that's just the way i think/
There's no way to know, but I suspect Megabucks winners throw back a couple thousand at least in a lot of cases.* (Megabucks being very unexpected I would say)
*but maybe that's just the way i think/
Sanitized for Your Protection
May 13th, 2010 at 6:45:17 PM
permalink
Quote: WizardWell, I only know about [Suze Orman] 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?
She reminds me of Dr. Phil, that is, someone of dubious qualification who gets propelled into fame by some mysterious mechanism related to fad. Queen of the obvious, capable of bad advice too. Apparently to be convinced of this you need only browse one of her books and get such solid advice as "pump your own gas to save money". And even "just pay the minimum on your credit cards" ... what???
Some links, the second one rails on the credit card advice:
http://articles.moneycentral.msn.com/RetirementandWills/CreateaPlan/stop-listening-to-suze-orman.aspx?page=1
http://articles.moneycentral.msn.com/Banking/CreditCardSmarts/why-suze-orman-is-wrong-again.aspx
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell! She is, after all, stone deaf. ... Arnold Snyder
May 13th, 2010 at 6:57:59 PM
permalink
Re: Suze Orman, I am not a big fan of hers, HOWEVER, I will say that for the majority of people, she does have some good advice, and at least some of what she thinks people should do is definitely better than what the majority of people are already doing. Her advice is not the best there is, but is definitely more easily followable by most people. I think she makes for a good "intro" to good money management techniques, such as paying down bills and doing some investing. After a while, some people, with more money, and those who are a bit more intelligent, will probably go on to more solid financial advice.
As for a big win, while I'm still waiting for it to happen, I would do the following, which is what I do when I make a big score in my business: 25% savings, 25% pure fun, 50% debts/investments. The 25% savings generally goes toward future trips to Vegas, so it would fall in the category of gambling more. 25% pure fun is usually buying myself something that I don't necessarily need, but would like to have, like a new laptop, new tv, car stereo, expensive dinner, etc, etc.
As for a big win, while I'm still waiting for it to happen, I would do the following, which is what I do when I make a big score in my business: 25% savings, 25% pure fun, 50% debts/investments. The 25% savings generally goes toward future trips to Vegas, so it would fall in the category of gambling more. 25% pure fun is usually buying myself something that I don't necessarily need, but would like to have, like a new laptop, new tv, car stereo, expensive dinner, etc, etc.
May 13th, 2010 at 9:33:23 PM
permalink
I would make sure I went home with at least half of the money. The other half? I'd say #5
May 14th, 2010 at 3:54:01 AM
permalink
Personally, I try to keep my gambling discipline and bet the exact same way that I would. If my plan is to bet $50 on the pass with full odds and alway have a come bet out with full odds, I would stick with that. The big win would go towards my total bankroll and future Las Vegas trips.
Of course, I would buy the wife a little something special just to let her know that I love her.
Of course, I would buy the wife a little something special just to let her know that I love her.
May 14th, 2010 at 4:54:51 AM
permalink
Man, oh MAN, did that sound like an afterthought!Quote: gamblerOf course, I would buy the wife a little something special just to let her know that I love her.
Doghouse much?
I invented a few casino games. Info:
http://www.DaveMillerGaming.com/
Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁
May 14th, 2010 at 6:42:13 AM
permalink
RE: Suze, okay, some good points. Now that you mention it, I think I've heard her say building an emergency fund should be a higher priority than paying down credit card debt, which I disagree with. However, I think there is a need out there for someone to dispense the simple advice out there to live within your means. Judging by our debt-ridden country, many of us need to hear that. In my original answer I invoked her name because I was trying to make a very simple point, as Suze is wont to do, that money won is money, and should be respected as such, not spent or re-gambled foolishly.
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
May 14th, 2010 at 6:49:46 AM
permalink
You want good money management advice, go with Gail Vaz-Oxlade of 'Til debt do us part' fame. Whenever I watch that funny show, I am compelled to sit down with my finances and do some organizing while I watch.
Wisdom is the quality that keeps you out of situations where you would otherwise need it
May 14th, 2010 at 7:07:19 AM
permalink
For me a "big win" would be about over 3K but we treat wins over $1,000 differently than other wins, except when we are in Vegas. The biggest win session I've had at a casino is around $1,200.
When I gamble, I am playing with entertainment funds and the money won from gambling goes back into the entertainment fund. A loss represents a depletion of the fund. So any wins under 1K go back into the entertainment fund for a future trip or enhanced trip (we would add show tickets, get a better room, get better times on our flights, have better food, etc).
Now, if I do get a big win over $3K, it would probably go into savings.
I agree with the Wizard that debt management is more important than an emergency fund.
When I gamble, I am playing with entertainment funds and the money won from gambling goes back into the entertainment fund. A loss represents a depletion of the fund. So any wins under 1K go back into the entertainment fund for a future trip or enhanced trip (we would add show tickets, get a better room, get better times on our flights, have better food, etc).
Now, if I do get a big win over $3K, it would probably go into savings.
I agree with the Wizard that debt management is more important than an emergency fund.
-----
You want the truth! You can't handle the truth!
May 14th, 2010 at 9:05:52 AM
permalink
While I've called it "the casino's money", I really do understand that it's mine. The real concept for me is playing above the line vs playing below the line.
What I've actually done when I've won big is I've kept out an amount equal to my bankroll x2 (ie, if my original bankroll is $500, it is now $1000), and kept the rest to pay bills or for the vacation fund if there are no outstanding bills. If you look at my slots example from last week, you'll see that we set a loss limit before we went and popped the big bets; regardless of what happened, we were going home with at least $1600. We took the thrill chance, but we only used some of what we were up to do that. In this instance, we're going to Disney World in June, and the $$ we won is paying some of that.
What I've actually done when I've won big is I've kept out an amount equal to my bankroll x2 (ie, if my original bankroll is $500, it is now $1000), and kept the rest to pay bills or for the vacation fund if there are no outstanding bills. If you look at my slots example from last week, you'll see that we set a loss limit before we went and popped the big bets; regardless of what happened, we were going home with at least $1600. We took the thrill chance, but we only used some of what we were up to do that. In this instance, we're going to Disney World in June, and the $$ we won is paying some of that.
A falling knife has no handle.
May 14th, 2010 at 9:09:43 AM
permalink
A big win would be around the $1500/$2000 mark I'd probably take 10% as mad money (good meal or good show), and the extra over my bankroll would come home for another trip later. That would end up in a savings plan till I needed it (one of my biggest annoyances is not finding a easy access, good interest rate savings scheme in Canada, unlike in the UK where I had decent interest rates and relatively quick access to my money).
"Then you can admire the real gambler, who has neither eaten, slept, thought nor lived, he has so smarted under the scourge of his martingale, so suffered on the rack of his desire for a coup at trente-et-quarante" - Honore de Balzac, 1829
May 14th, 2010 at 11:18:58 AM
permalink
#4....
May 14th, 2010 at 1:25:18 PM
permalink
this is the behavior most people share. gambling just increases peoples spending habits. when they win, its like "free money" to them, so they go out and spend money on things that they otherwise wouldnt have. you shouldnt let the results from gambling affect the decisions you make in everyday life. i can tell this to people but nobody is going to listen and try to change their behavior. i guess a part of it has to do with the frequency that people gamble. i gamble nearly every day so the results are meaningless to me. i know there are going to be some big wins on some days and some big losses on other days. i dont let it change my behavior away from the tables. while its nice to win and not as nice to lose, the real joy i get from gambling is looking for edges i can exploit that may go unnoticed by others. thats the game for me.
May 23rd, 2010 at 10:40:14 AM
permalink
A 3x bankroll win for me for a Vegas trip would be about $2000. First thing I do is set aside enough money to pay for the next trip to Vegas so call that $1000 for me & the wife. Next is a great dinner to celebrate the win, so there goes another $200. Then we'd probably want to do something memorable that we hadn't planned, like shooting automatic weapons at the firing range, or doing the indoor sky diving, so there goes another $200 or so. The rest goes home with us and is used as bonus deposits into the kids savings accounts.
"Bite my Glorious Golden Ass!" - Bender Bending Rodriguez
May 23rd, 2010 at 12:36:45 PM
permalink
I guess I have a question for folks who do not feel a win should increase one's wagering, or perhaps that it doesn't affect theirs. My example is not really for a single big jackpot win, but for a very good winning session.
Suppose you like to play craps and have a favorite betting pattern which applies at a $10 table. Suppose also that you happened to be at a crap table in Atlantic City on 5/23/09 when Patricia Demaura started rolling. Well after the fact, we know that she rolled the dice for 4 hours and 18 minutes before the 7 came up at the wrong time. Had you been at the table, would you have maintained your same betting pattern and betting level all that time? Or would your good fortune (assuming you are a right bettor) have convinced you to up the stakes?
I believe that even a cheapskate like me would have wound up betting a good bit higher than usual.
Suppose you like to play craps and have a favorite betting pattern which applies at a $10 table. Suppose also that you happened to be at a crap table in Atlantic City on 5/23/09 when Patricia Demaura started rolling. Well after the fact, we know that she rolled the dice for 4 hours and 18 minutes before the 7 came up at the wrong time. Had you been at the table, would you have maintained your same betting pattern and betting level all that time? Or would your good fortune (assuming you are a right bettor) have convinced you to up the stakes?
I believe that even a cheapskate like me would have wound up betting a good bit higher than usual.
May 23rd, 2010 at 12:54:38 PM
permalink
Quote: DocI guess I have a question for folks who do not feel a win should increase one's wagering, or perhaps that it doesn't affect theirs. My example is not really for a single big jackpot win, but for a very good winning session.
Suppose you like to play craps and have a favorite betting pattern which applies at a $10 table. Suppose also that you happened to be at a crap table in Atlantic City on 5/23/09 when Patricia Demaura started rolling. Well after the fact, we know that she rolled the dice for 4 hours and 18 minutes before the 7 came up at the wrong time. Had you been at the table, would you have maintained your same betting pattern and betting level all that time? Or would your good fortune (assuming you are a right bettor) have convinced you to up the stakes?
I believe that even a cheapskate like me would have wound up betting a good bit higher than usual.
If you were betting the minimum I assume people would have crowded you off the table. No matter how irrational, I would assume you would get swept up in the enthusiasm.
June 21st, 2010 at 8:17:32 AM
permalink
This happened to me two weeks ago.
I went to Reno on a solo trip and ended up way up for the weekend. All in all, I spent $5000 on VP and BJ and brought home $20,000!
It got to the point that I ended up asking for checks when I hit a W2G jackpot rather than cash!
What did I do with the extra winnings?
Paid off two credit cards and am sending my husband to bowling camp for 3 days! The rest went back into my gambling bankroll.
Last fall, I brought home $8000 from a similar trip to Reno. In that instance, we bought new living room furniture and our first HD flat screen tv. It was a lovely Christmas!
In general, when I get overly large returns on my gambling, I try to do something with at least part of the money that I have been wanting to do but could not justify spending the money on, as in the furniture and the new tv, or I pay off at least one outstanding bill. I never apply the entire amount of the win to non gambling activities but I do apply some of the win. The rest goes back into my gambling bankroll for my next trip.
Just my 2cents worth.
I went to Reno on a solo trip and ended up way up for the weekend. All in all, I spent $5000 on VP and BJ and brought home $20,000!
It got to the point that I ended up asking for checks when I hit a W2G jackpot rather than cash!
What did I do with the extra winnings?
Paid off two credit cards and am sending my husband to bowling camp for 3 days! The rest went back into my gambling bankroll.
Last fall, I brought home $8000 from a similar trip to Reno. In that instance, we bought new living room furniture and our first HD flat screen tv. It was a lovely Christmas!
In general, when I get overly large returns on my gambling, I try to do something with at least part of the money that I have been wanting to do but could not justify spending the money on, as in the furniture and the new tv, or I pay off at least one outstanding bill. I never apply the entire amount of the win to non gambling activities but I do apply some of the win. The rest goes back into my gambling bankroll for my next trip.
Just my 2cents worth.
June 22nd, 2010 at 3:46:29 AM
permalink
I'll be sure to bear this in mind ... if I ever have a winning trip.
June 22nd, 2010 at 5:26:53 AM
permalink
1) 30 mins with Air Force Amy.
2) Pay off debt.
2) Pay off debt.
June 22nd, 2010 at 5:44:37 AM
permalink
30 minutes and you're already done?
I invented a few casino games. Info:
http://www.DaveMillerGaming.com/
Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁
June 22nd, 2010 at 5:56:05 AM
permalink
Quote: DJTeddyBear30 minutes and you're already done?
Yeah, no foreplay or cuddling, so I think I could accomplish my bullet list in 30 mins. Plus, I have a lot of debt.
June 28th, 2010 at 11:11:39 PM
permalink
Quote: WizardYou should add a bar graph poll to this one. My answer is absolutely (2). It makes the hair on the back of my neck stand up when I overhear somebody overbetting say they are doing so because it is just "the casino's money." Once you win something that money is no different than money earned. As Susie Orman would say, paying your bills and paying down debt should always be the highest priority.
100% agree. If I win ten dollars and put it back into a machine, I'm playing with MY money and not the casino's. I could have hit Subway for a pair of foot-longs instead. If you win a huge jackpot then you do what's best for you: Pay down bills if you have them, or buy something you've wanted but didn't want to put out for over a period of time. The one thing you should not do is pretend you have a larger gambling bankroll.
Wizard I'm new here, so what does your by-line mean? For a stab I take issue with the first part because as a gambler my only goal is to win some money. If I lose I failed, if I win I succeeeded. That is all that matters is it not? What's the 2nd part mean? I wouldn't play anything if I didn't think I had a chance of winning, i.e., it being a "good bet".
Thanks.
January 20th, 2011 at 9:44:50 AM
permalink
For gamblers you guys are very careful with your money! I have only gambled several times since I am barely above the age limit in Macau but every times I won I went with either 3, 4 or 6.
January 20th, 2011 at 10:21:29 AM
permalink
Anyone who says they wouldn't try to win bigger, at least for a while, I think is kidding themselves. It's EXTREMELY hard to end a trip at the highest amount you have had for the trip. I only remember it ever happening to me once and that was because they closed the BJ table and I had to leave because of travel arrangements, and I got a Blackjack on the last hand.
I don't want to be thought of as the big sinner in this forum but I would definitely blow $500 or $1000 at the Spearmint Rhino. All in $20 dances from different girls, so you get the most for your money.
I don't want to be thought of as the big sinner in this forum but I would definitely blow $500 or $1000 at the Spearmint Rhino. All in $20 dances from different girls, so you get the most for your money.
September 12th, 2011 at 7:57:51 PM
permalink
Quote: rudeboyoiI would invest half of it in low risk mutual funds and then take the other half over to my friend Asadulah who works in securities
HAHAHA how did this not get any responses?? Best movie ever.
September 13th, 2011 at 2:50:33 PM
permalink
Mostly 2, although I probably would also do either or both of 3 (it depends on your definition of "expensive") and stepping up my usual Vegas routine (see a show or two, and eat at a top-level restaurant or two, that I normally wouldn't do).
September 13th, 2011 at 5:11:01 PM
permalink
I'd add it to my stack of cash on hand; cash is fungible.
When I want gambling money, I take some.
If I need a few grand to pay a contractor, I grab it.
In the end of course, I'll give it all back to the casinos, with interest.
As will we all.
When I want gambling money, I take some.
If I need a few grand to pay a contractor, I grab it.
In the end of course, I'll give it all back to the casinos, with interest.
As will we all.
"What, me worry?"
September 13th, 2011 at 6:18:31 PM
permalink
Well, I've never been in a *big* win situation, but the times I've come out a few hundred ahead, I've gone shopping with some of it. I look at buying something I need/want with my winnings as locking up my winnings, I can't put a new pair of shoes on the table and lose them. Just for the record, my house is paid for, one of my vehicles is paid for, and a good win would pay off my other one, so not a lot of bills to cover with a big win.
September 13th, 2011 at 9:33:20 PM
permalink
7. Bail Jerry Logan out of jail. Again.
"It's not called gambling if the math is on your side."
September 13th, 2011 at 9:46:03 PM
permalink
Quote: EvenBob7. Bail Jerry Logan out of jail. Again.
Bob, Bob, Bob... why would you waste good money after bad?
"Then you can admire the real gambler, who has neither eaten, slept, thought nor lived, he has so smarted under the scourge of his martingale, so suffered on the rack of his desire for a coup at trente-et-quarante" - Honore de Balzac, 1829
September 13th, 2011 at 10:07:09 PM
permalink
delete
"It's not called gambling if the math is on your side."
September 13th, 2011 at 10:07:37 PM
permalink
Quote: thecesspitBob, Bob, Bob... why would you waste good money after bad?
Sigh...........
"It's not called gambling if the math is on your side."
October 19th, 2011 at 7:14:21 PM
permalink
Quote: WizardI 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: odiousgambitI 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.
December 3rd, 2011 at 3:35:48 PM
permalink
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!
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!
'Winners hit n run... Losers stick around'
February 22nd, 2012 at 3:42:00 AM
permalink
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.
February 22nd, 2012 at 8:48:49 AM
permalink
Give it all to Cocktail Doll and Cocktail Princess.
Many people, especially ignorant people, want to punish you for speaking the truth. - Mahatma Ghandi
February 22nd, 2012 at 5:23:47 PM
permalink
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)
Some people need to reimagine their thinking.
February 22nd, 2012 at 5:54:46 PM
permalink
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!
February 22nd, 2012 at 6:02:41 PM
permalink
Congrats! Still waiting for one of those...Quote: chefphydeauxHad 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!
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
February 29th, 2012 at 2:02:07 PM
permalink
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.
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.
