I play regular nonprogressive slots exclusively and would like to know how many betting units are required for a 10%, 5%, and 1% risk of ruin, respectively, for 4hrs of play. My rate of play is on the fast side. I usually take about $3000 to the casino, but would like my bankroll to more closely resemble that of the professional players. I usually play the 2-coin $1machines, and I would like to do better. I've estimated that 1500 betting units would give about a 10% risk of ruin. I know that this is quite difficult to predict for slot play, and would be highly theoretical, but I would greatly appreciate some answers on this, maybe even with computer simulation. Thanks a bunch.
Following up on my previous post, and hoping to generate some discussion, I personally just have a feel that if 1500 betting units = 10%, then for 1% risk of ruin, you'd need 15,000 betting units, which works out to 10 x $3000= $30,000. I'm thinking for 5%, you'd need, let's say, $10,000. I don't have a computer simulator, and would appreciate it if someone has access to one for more accurate numbers. Now, mind you, I wouldn't ever plan on actually needing to play anything close to this in real life casino play, but it would be a great psychological comfort to know that I have some mathematical backup. The 1500 betting units number was inspired from a post on Michael Bluejay's site years ago. It just so happened I was already using the $3000 bankroll figure for myself. Keeping I mind the extreme volatility of slots, however, I break even now playing much less (approximately $1500) and think I have been underbankrolled. That is why I hope to eventually work up to a "professional" like bankroll while playing slots.
The major problem with estimating is it's quite machine dependent and if you want results with reasonable accuracy, a PAR sheet for the machine you're playing is needed.
Thanks for responding. I know its quite hard to come up with any hard numbers. I usually seek out the 2-coin $1 Double Diamond, Double Dollar type machines at max coin. I also know a lot of judgement is needed with strict loss limits when the machine is in negative variance.
Thanks DRich. At max coin, that works out to $2 per spin, and I usually put in a $100 bill, which gives me 50 spins. If I can win 20% on that $100, I'm satisfied. If I, by chance, hit something bigger, I try to parlay it up.
Yeah DRich. I guess its the difference in actual practice and theory. The $100 per machine is what I actually play now. I'd like to know the theorectical answer or 'best guess' for playing to get the 10%, 5%, and 1% risk of ruin. I realize we can't ever be totally exact, and must make some assumptions. Thanks
Thanks Sally. My present rate of play is about 20 spins/min. I know this is too fast, and sometimes it is less, but that's around average. What really keeps me in check is my tight lost limits and win goals.