How Many Betting Units for a Several Day Trip to Vegas
Poll
 | 19 votes (54.28%) | ||
| | 3 votes (8.57%) | ||
| | 8 votes (22.85%) | ||
| | 4 votes (11.42%) | ||
| No votes (0%) | |||
| | 1 vote (2.85%) |
35 members have voted
January 19th, 2011 at 6:25:41 PM
permalink
Several of my friends have recently asked me how much money they should bring with them to gamble with when they go to Las Vegas, assuming they want to gamble for long periods of time. So my question to the forum is as follows:
Let's say you go travel to Las Vegas for several days and you have an average bet of X. How many betting units do you normally bring with you?
Personally, my average bet is between $300 to $500 a hand, and I like to bring about 100 units with me (or have a line of credit for that much) during my four day long trips to Las Vegas. There have been times where I have felt that I should of brought more, but I have never been taken down to the felt (yet).
I was curious as to what others bring with them on their trips.
Let's say you go travel to Las Vegas for several days and you have an average bet of X. How many betting units do you normally bring with you?
Personally, my average bet is between $300 to $500 a hand, and I like to bring about 100 units with me (or have a line of credit for that much) during my four day long trips to Las Vegas. There have been times where I have felt that I should of brought more, but I have never been taken down to the felt (yet).
I was curious as to what others bring with them on their trips.
January 19th, 2011 at 7:06:31 PM
permalink
I typically take 100 units for my trips, but play conseratively with my money the first few days. I hate busting out early. I usually tell people to bring X per day, and if they are serious gamblers, tell them that $250-$400 a day should cover it depending on what I know they play for tables. For slots only, people can easily seem to get by on $100 a day, esp. if they play pennies.
-B
-B
January 19th, 2011 at 7:12:09 PM
permalink
Quote: gambler
Personally, my average bet is between $300 to $500 a hand, and I like to bring about 100 units with me
Thats $50,000. How do you get that much cash thru the airport without being detained for 5 hours?
"It's not called gambling if the math is on your side."
January 19th, 2011 at 7:37:44 PM
permalink
Never needed to do it myself for gambling, but I suspect a cashier's check would work just fine.Quote: EvenBobThats $50,000. How do you get that much cash thru the airport without being detained for 5 hours?
January 19th, 2011 at 7:42:15 PM
permalink
Quote: DocNever needed to do it myself for gambling, but I suspect a cashier's check would work just fine.
It takes days to cash a cashiers check now, too many phonies floating around. My bank (Chase) refused to cash a cashiers check for $500 from my brother in law because of all the counterfeit checks and money orders out there now. One for 50K would take a week to clear.
"It's not called gambling if the math is on your side."
January 19th, 2011 at 7:46:07 PM
permalink
$50,000 bank roll? That's what casino credit is for. He DID say he has a credit line...
For the original question: I typically take 25-50 units PER DAY. So I voted 150-199.
For the original question: I typically take 25-50 units PER DAY. So I voted 150-199.
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? 😁
January 19th, 2011 at 7:57:15 PM
permalink
I think if you are using reputable banks on both ends, the validity of a cashier's check can be established very quickly. If you have a $5 million check from the People's Bank of Nigeria, then there could be some difficulty.Quote: EvenBobIt takes days to cash a cashiers check now, too many phonies floating around. My bank (Chase) refused to cash a cashiers check for $500 from my brother in law because of all the counterfeit checks and money orders out there now. One for 50K would take a week to clear.
Casino credit (as mentioned) is also an option if you want to be that open with the casino about all your personal funds. Wire transfers are another effective method. As I have posted before, I believe that carrying huge amounts of cash is something best left to the folks at Brinks and Wells Fargo.
January 19th, 2011 at 7:59:04 PM
permalink
What game will you play?
Will you follow Basic Strategy?
Consult chart at Easy.Vegas (which is at 90 percent avoidance of Gambler's Ruin)
Then adjust for:
...Tips to CW and Dealers.
...Dealer Errors
...Player Errors (likely to increase over "time" (ie, alcohol consumption).
Will you follow Basic Strategy?
Consult chart at Easy.Vegas (which is at 90 percent avoidance of Gambler's Ruin)
Then adjust for:
...Tips to CW and Dealers.
...Dealer Errors
...Player Errors (likely to increase over "time" (ie, alcohol consumption).
Last edited by: unnamed administrator on Aug 19, 2019
January 19th, 2011 at 8:03:59 PM
permalink
Quote: gamblerSeveral of my friends have recently asked me how much money they should bring with them to gamble with when they go to Las Vegas, assuming they want to gamble for long periods of time. So my question to the forum is as follows:
Let's say you go travel to Las Vegas for several days and you have an average bet of X. How many betting units do you normally bring with you?
Personally, my average bet is between $300 to $500 a hand, and I like to bring about 100 units with me (or have a line of credit for that much) during my four day long trips to Las Vegas. There have been times where I have felt that I should of brought more, but I have never been taken down to the felt (yet).
I was curious as to what others bring with them on their trips.
There would be as many answers to this as there are personal trip goals. If you want to be in action the entire trip no matter what, then divide your stake into daily, or "session", bankrolls, and resolve to take a given day's/session's money out of action for good once the day is over. This also gives you a way to avoid getting blasted down to nothing.
100 units is actually a fairly small stake in terms of lasting for several days. We've all had -40, -50, -100 unit days. I don't play at anywhere near your level, but I generally bring 400 units with me (so, $2000 for $5/hand BJ) and have several times lost 3/4 or more of my bankroll. So my experience is that 400 units can be barely enough to stay in action. (Of course, my bets ranged from $5 to $30 according to the count.)
The fact that a believer is happier than a skeptic is no more to the point than the fact that a drunken man is happier than a sober one. The happiness of credulity is a cheap and dangerous quality.---George Bernard Shaw
January 19th, 2011 at 8:05:53 PM
permalink
You are right, it does take about a week or so for a cashier's check to go through, so you have to plan ahead. For some strange reason, I like to play with my own front money when I can instead of getting casino credit right away, so I do send a cashier's check. Casinos seem more then willing to lend me way too much money for my own good, so I actually call ahead of time to limit my casino credit.
I try to play low HA games, like the pass and come (with odds) in craps or blackjack.
I try to play low HA games, like the pass and come (with odds) in craps or blackjack.
January 19th, 2011 at 8:08:10 PM
permalink
Quote: mkl654321100 units is actually a fairly small stake in terms of lasting for several days. We've all had -40, -50, -100 unit days. I don't play at anywhere near your level, but I generally bring 400 units with me (so, $2000 for $5/hand BJ) and have several times lost 3/4 or more of my bankroll. So my experience is that 400 units can be barely enough to stay in action. (Of course, my bets ranged from $5 to $30 according to the count.)
Yes, for me a "unit" is based upon my average bet, and I tend to be flat betting or betting with low variance. I am not an advantage BJ player, nor do I intend to become one.
January 19th, 2011 at 8:14:32 PM
permalink
Quote: DJTeddyBearHe DID say he has a credit line...
.
He said OR: "and I like to bring about 100 units with me (or have a line of credit for that much)"
"It's not called gambling if the math is on your side."
January 20th, 2011 at 5:39:44 PM
permalink
Quote: FleaStiffWhat game will you play?
Actually, what games will your friends play? If they will follow you, then your example is fine. If they will play other high house edge games, at similar stakes, they will need much more. Conversely, if they will play for smaller stakes, they will not need as much.
I'm small time. My experience has been that my average bet is in the $25-$75 range playing craps ($5 PL +$20 odds and maybe one or two Come bets with odds). I have found that about $1k a day bankrolls extended play (8+ hrs), allowing some flexibility for the rough spots.
The nice thing about your level of action, is that you have the flexibility to step down your bet size during the rough patches. Unfortunately, for me, I have nowhere lower to go.
Simplicity is the ultimate sophistication - Leonardo da Vinci
January 20th, 2011 at 6:36:45 PM
permalink
Quote: EvenBobHe said OR: "and I like to bring about 100 units with me (or have a line of credit for that much)"
I don't know what Gambler does, but I keep a couple bank accounts just for this purpose (currently, Chase and Wells Fargo, in addition to my primary account at US Bank). I just look at what banks have local branches where I'm going, move money into the appropriate account, call and make sure the branch will have funds to facilitate a withdrawal (hardly a problem at my level), and withdraw when I arrive.
As much as I like gambling, I really dont like carrying cash. So this is a good way to have access to funds without having to have it all in cash.
"So as the clock ticked and the day passed, opportunity met preparation, and luck happened." - Maurice Clarett
January 20th, 2011 at 8:01:10 PM
permalink
For blackjack, I would bring at least 20 units to every session. (A session is the longest amount of time a player can comfortably play--usually a couple hours). You will only bust out of that 5% of the time, I would estimate. Don't be shocked if you have a lot of losing sessions in a row. For craps I would take as much as I could. Even for light betting like pass + odds and a come point or two, the variance is huge. I'd want to have at least a couple hundred, maybe a thousand if I was in for the long haul and betting heavily on the odds. (I assume you don't make any of the center bets).
For any other low variance games (Pai Gow, 3CP, Bacc.), I would bring at least 10 units per session. You will bust out sometimes, but you will find that will often last you for a long time.
For any other low variance games (Pai Gow, 3CP, Bacc.), I would bring at least 10 units per session. You will bust out sometimes, but you will find that will often last you for a long time.
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
January 20th, 2011 at 9:44:58 PM
permalink
20 units is way low for blackjack. You have to put hard stop-loss at 4 bets, which is 20% for you, not 1, since you need 4 units for a common high bets (split+DAS or resplit to 4), or even 6-8 with the rare maximum bets, doubles after resplit. And with only 16.5-17 bets to play through, you can only play about 50 hands for 5% risk of ruin. In a more likely 120-hand session, your risk of ruin is 20%, growing up to 30% over 200 hands, which is not too long for a session either.
To get a 5% risk of ruin, with a more flexible 6-unit stop-loss (ensuring you won't miss that rare big win hand), over a 200-hand session with perfect play, you need a bankroll of 35-40 bets depending on the rules and basic or perfect strategy. Using less than basic strategy or not following it to the letter increases the risk.
I put my soft stop-loss points at 20/30/40 units, because I don't want to lose the advantage if the deck suddenly gets hot, which accounting for bet variance would translate into about 20 average bets.
To get a 5% risk of ruin, with a more flexible 6-unit stop-loss (ensuring you won't miss that rare big win hand), over a 200-hand session with perfect play, you need a bankroll of 35-40 bets depending on the rules and basic or perfect strategy. Using less than basic strategy or not following it to the letter increases the risk.
I put my soft stop-loss points at 20/30/40 units, because I don't want to lose the advantage if the deck suddenly gets hot, which accounting for bet variance would translate into about 20 average bets.
Resist ANFO Boston PRISM Stormfront IRA Freedom CIA Obama
January 21st, 2011 at 9:50:14 AM
permalink
I may have been a bit to risky in my estimates. Thanks for clarifying. Where did you get your figures for ROR?Quote: P9020 units is way low for blackjack. You have to put hard stop-loss at 4 bets, which is 20% for you, not 1, since you need 4 units for a common high bets (split+DAS or resplit to 4), or even 6-8 with the rare maximum bets, doubles after resplit. And with only 16.5-17 bets to play through, you can only play about 50 hands for 5% risk of ruin. In a more likely 120-hand session, your risk of ruin is 20%, growing up to 30% over 200 hands, which is not too long for a session either.
To get a 5% risk of ruin, with a more flexible 6-unit stop-loss (ensuring you won't miss that rare big win hand), over a 200-hand session with perfect play, you need a bankroll of 35-40 bets depending on the rules and basic or perfect strategy. Using less than basic strategy or not following it to the letter increases the risk.
I put my soft stop-loss points at 20/30/40 units, because I don't want to lose the advantage if the deck suddenly gets hot, which accounting for bet variance would translate into about 20 average bets.
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
January 28th, 2011 at 5:14:43 PM
permalink
This is a very interesting discussion. I generally budget myself for a trip about the same as gambler. I have never really satisfied myself with an answer to this, so take a different approach. My goal is to ensure that I have money for every day, so...
1. I budget myself a certain amount for the trip and under no circumstances go over.
2. I budget myself a certain amount for each day - with carry over from the days before - and under no circumstances go over. For example, if I allocate 10,000 each day, I have 10K for the first day, a new 10K plus any carry over for the second day, a new 10K for the third day plus any carry over from the first two days. This way I always have money to begin each day.
3. I would rather have money to gamble at night, so will bet lower in the morning or afternoon if I am gambling then. Since I allocated the 10K for the day, if it is after dinner, I am less concerned about ruin and may bet $500 / hand.
1. I budget myself a certain amount for the trip and under no circumstances go over.
2. I budget myself a certain amount for each day - with carry over from the days before - and under no circumstances go over. For example, if I allocate 10,000 each day, I have 10K for the first day, a new 10K plus any carry over for the second day, a new 10K for the third day plus any carry over from the first two days. This way I always have money to begin each day.
3. I would rather have money to gamble at night, so will bet lower in the morning or afternoon if I am gambling then. Since I allocated the 10K for the day, if it is after dinner, I am less concerned about ruin and may bet $500 / hand.
January 28th, 2011 at 8:13:09 PM
permalink
I like to play lots of different games with different "units". A unit might be 25 cents at video poker and $20 at the race book, for example. How much I buy in for also depends on the game and also how long I plan to stay. Before each trip I plan out how much I plan to play (very roughly) at each game and match my bankroll to that. I only ran out once, a very long time ago. No specific dollar amounts, sorry.
January 29th, 2011 at 6:26:12 AM
permalink
Thought about it some more over night. I'm not sure using risk of ruin is the right methodology, although I have in the past looked at it that way. I'm not bringing my last dollar to the casino. I'm bringing what I'm willing to lose. Say I'm bringing $10K for the day. If I think in terms of risk of ruin, I'll come up with a number like the 100-200 bets that some of you are. That may lead me to bet $50-100 / hand. What will probably happen is I will generally be in the range of +/- $3000 - maybe +/- $5000. It is a very, very low probability that I will drop the whole $10K - or win $10K for that matter. But since I came to risk the $10K, I feel I should bet more - as much as 2-4 times as much. As I put in my prior note, I just want to ensure I have money for every day of my trip. As long as I am okay with busting out (of my daily limit) early in the evening, then my stakes are okay.
January 29th, 2011 at 6:37:16 AM
permalink
Good. Yet risk of ruin is still the right measure to consider. Risk of ruin is a phrase wherein the "ruin" does not refer to your personal finances but your bankroll. As I understand the risk of ruin calculations its basically a way to determine that you give yourself a fair shake when confronting that dreaded "variance" factor. It merely assures that whatever capital you risk gets a fair shake in case Lady Luck fails to smile favorably upon you. Define for yourself an "average" day of games and bets and the risk of ruin totals should see you get a good run for your money. (Though do remember, tips, errors, etc.).Quote: PaiGowFanI'm not bringing my last dollar to the casino. I'm bringing what I'm willing to lose.
If your first day is profitable that may be all that you need and you might be able to continue without even risking further inroads into your bankroll. The main thing is that you have enough to survive a frequently encountered trend wherein the house keeps winning.
January 29th, 2011 at 7:07:58 AM
permalink
Quote: PaiGowFan
I've got to look closer, I thought it was Dan
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
January 29th, 2011 at 7:17:29 AM
permalink
Quote: FleaStiffWhat game will you play?
Will you follow Basic Strategy?
Consult chart at Easy.Vegas (which is at 90 percent avoidance of Gambler's Ruin)
Then adjust for:
...Tips to CW and Dealers.
...Dealer Errors
...Player Errors (likely to increase over "time" (ie, alcohol consumption).
Is this what you are talking about?
Last edited by: unnamed administrator on Aug 19, 2019
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
January 29th, 2011 at 7:45:33 AM
permalink
Risk of ruin statistics are important whichever way you play and with whatever purpose.
However, keep in mind that the 20-bet suggested bankroll is extremely likely to be blown in a day. Here are Wizard's calculations: https://wizardofodds.com/blackjack/appendix12.html
As you can see, if you say bet 2 units half the time, your risk of ruin jumps twice. What's more, you need 4-8 reserve units to cover doubles and splits. All things considered, I wouldn't approach the table with less than 40 bets (actually, I quit at 40 bets unless the deck is hot). If not counting, 50 is enough for a session.
A week of intermittent play can be treated as one long session, and you need about 150 bets to cover it with bet increases and reserve accounted for. But having more never hurts, unless you are a compulsive gambler who always blows it all away.
However, keep in mind that the 20-bet suggested bankroll is extremely likely to be blown in a day. Here are Wizard's calculations: https://wizardofodds.com/blackjack/appendix12.html
As you can see, if you say bet 2 units half the time, your risk of ruin jumps twice. What's more, you need 4-8 reserve units to cover doubles and splits. All things considered, I wouldn't approach the table with less than 40 bets (actually, I quit at 40 bets unless the deck is hot). If not counting, 50 is enough for a session.
A week of intermittent play can be treated as one long session, and you need about 150 bets to cover it with bet increases and reserve accounted for. But having more never hurts, unless you are a compulsive gambler who always blows it all away.
Resist ANFO Boston PRISM Stormfront IRA Freedom CIA Obama
January 30th, 2011 at 1:45:38 AM
permalink
Mine is roughly 40x/day. Any BJ table I go to I start with 10X minimum, so this would be going up to 4 tables and losing everything. Rarely does that happen, but that is about what I take each trip.
I do know I rarely stick to a strick table limit though. Sometimes I'll play 50 minimum, and others I'll go to O'sheas and play 5 minimum.
I do know I rarely stick to a strick table limit though. Sometimes I'll play 50 minimum, and others I'll go to O'sheas and play 5 minimum.
February 4th, 2011 at 11:34:41 PM
permalink
I always think it's interesting that few people talk in terms of winning. I'm a small player and usually budget about $500 a day, sometimes $1,000. My aim is to double my money or lose it. If I lose $500 in ten minutes, that's it for the day. If I win $500 in six hours, I'm done. I admit that I've gone past double shooting craps if I got on a roll, but with my bankroll, I'm usually only good for one or two craps sessions in a three day stay.
February 4th, 2011 at 11:50:21 PM
permalink
Quote: wonderwarthogI always think it's interesting that few people talk in terms of winning. I'm a small player and usually budget about $500 a day, sometimes $1,000. My aim is to double my money or lose it. If I lose $500 in ten minutes, that's it for the day. If I win $500 in six hours, I'm done. I admit that I've gone past double shooting craps if I got on a roll, but with my bankroll, I'm usually only good for one or two craps sessions in a three day stay.
The reason for that is that most people don't gamble to win--they gamble to have fun. And if you're on a short bankroll, the major question might be, how do I get the most fun for my money? If, on the other hand, making money was your primary concern, you should find the best bet available and bet your entire bankroll.
When you think about it, "double your money" is pretty meaningless, since you haven't really doubled your money unless that $500 was all the money you had in the world.
The fact that a believer is happier than a skeptic is no more to the point than the fact that a drunken man is happier than a sober one. The happiness of credulity is a cheap and dangerous quality.---George Bernard Shaw
February 5th, 2011 at 7:39:44 AM
permalink
Quote: odiousgambitIs this what you are talking about?
Yes. Thanks. https://easy.vegas/gambling/basicbet .
Its a very bare bones chart but it shows just what units are required to stay in the game with a 90 percent chance of avoiding being ruined by having your bankroll wiped out thru normal variance.
A good many of those play rates appear to be rounded off figures that may need to be updated, but I doubt the net effect of such errors is all that great. Some of the play rates should be adjusted based upon the casino: A Strip craps game generally goes faster than a Downtown one and supposedly Boulder Strip will be the slowest of all.
Last edited by: unnamed administrator on Aug 19, 2019
February 5th, 2011 at 8:40:45 AM
permalink
Whoa! Great screenname.Quote: wonderwarthogI always think it's interesting that few people talk in terms of winning. I'm a small player and usually budget about $500 a day, sometimes $1,000. My aim is to double my money or lose it. If I lose $500 in ten minutes, that's it for the day. If I win $500 in six hours, I'm done. I admit that I've gone past double shooting craps if I got on a roll, but with my bankroll, I'm usually only good for one or two craps sessions in a three day stay.
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
February 13th, 2011 at 5:29:14 PM
permalink
Quote: P90Risk of ruin statistics are important whichever way you play and with whatever purpose.
The real question is what is your objective. If your goal is to survive - that is, not run out of money, then risk of ruin is what you need to think about. I would like to play and put a certain amount in play each day. That's what is fun for me. If I bring $10,000 and set my bet size so that I will to 99% confidence survive, then I am likely to be +/- $3000 at the end of the day. It is unlikely I will come close to putting $10,000 in play. That is, it is unlikely I will end the day +/- $10,000. For me, the bet size, if I want to prevent ruin, is too small. Of course, the risk I'm taking is that I bust out. In fact, It could happen early in the afternoon/evening and I'm done for the night.
Keep in mind, I do not want to be done for the trip, so I make sure to budget for each day.
February 13th, 2011 at 6:19:50 PM
permalink
Quote: PaiGowFanThe real question is what is your objective. If your goal is to survive - that is, not run out of money, then risk of ruin is what you need to think about. I would like to play and put a certain amount in play each day. That's what is fun for me. If I bring $10,000 and set my bet size so that I will to 99% confidence survive, then I am likely to be +/- $3000 at the end of the day. It is unlikely I will come close to putting $10,000 in play. That is, it is unlikely I will end the day +/- $10,000. For me, the bet size, if I want to prevent ruin, is too small.
Yes. But you see, risk of ruin statistics don't only apply to 1% risk. (Confidence is a somewhat different metric in statistics; it applies to how sure you are that the risk of ruin is 1%).
You can set the risk of ruin as high as 50% - this means that 50% of the time, you'll lose your entire bankroll. Of course, you could just make one $10k bet for that - but, presumably, you don't, am I right? This means you still want to play for a certain time. And if you use the preferred daily number of trials and calculate with a high risk of ruin, you'll determine the optimal bet size to lose big half the time and win the other half, yet ensure a reasonable play time.
Though the exact RoR for the calculation won't be 50%, more like 40%, to account for partial bankroll loss. For 100 hands of Blackjack, that will be a $1,100 average bet.
Resist ANFO Boston PRISM Stormfront IRA Freedom CIA Obama
February 14th, 2011 at 6:45:02 PM
permalink
Hmmm... Very interesting. I have to think about it a bit. I have always thought of RoR in only one way. That is, I do not want to run out of money, period. In investing, there are two goals which you have to balance. One is to maximize return and the other is to nearly eliminate the RoR. In gambling, you have little control over the rate of return. You can minimize the house edge, but that's about it. So you can only focus on RoR and I always think in terms of 99% confidence that you do not go bust. I guess you're right, if I relax that a bit, I can increase the volatility of my profits/losses - which I guess is what I do by betting 4-5 times what I would if I wanted 99% confidence of not busting.
February 16th, 2011 at 1:59:25 PM
permalink
As you said it depends on your goals. To me a goal of "not running out of money" is not descriptive enough to determine what a proper bet is to make sure it doesn't happen.
- Length of play, and how flexible you are with this value. If one day playing for 4 hours and one playing 8 hours is fine, this gives you a lot more flexbility in your bet size.
- Static or Dynamic bet size. RoR is not static. 3 hours after starting a lot of things have changed. If you are willing to change your bet amount 3 hours in again it gives more flexibility.
RoR for 1 hour on a table can be very different than RoR for a daily limit or even a trip limit. I normally play on $25 tables, but sometimes on $50 tables. I know for a fact that I can't gamble for as long as I want to on $50 tables, but I'm perfectly willing to do that because if I lose I have no issue going and playing a $10 table for a while. I may want a 1% RoR for the day, but I have no issues taking a 50% chance on one table for an hour when I know I can bring my daily RoR back down to 1% by going to smaller limits later on if I do lose.
- Length of play, and how flexible you are with this value. If one day playing for 4 hours and one playing 8 hours is fine, this gives you a lot more flexbility in your bet size.
- Static or Dynamic bet size. RoR is not static. 3 hours after starting a lot of things have changed. If you are willing to change your bet amount 3 hours in again it gives more flexibility.
RoR for 1 hour on a table can be very different than RoR for a daily limit or even a trip limit. I normally play on $25 tables, but sometimes on $50 tables. I know for a fact that I can't gamble for as long as I want to on $50 tables, but I'm perfectly willing to do that because if I lose I have no issue going and playing a $10 table for a while. I may want a 1% RoR for the day, but I have no issues taking a 50% chance on one table for an hour when I know I can bring my daily RoR back down to 1% by going to smaller limits later on if I do lose.
February 24th, 2011 at 4:26:06 PM
permalink
soulhunt79, that's a lot like I play. I bring $5,000-$10,000 per day. I will not bnorrow from the next day, so if I run out, I'm done for the day. I'm okay with that, so I may start high. If I hit a really, really bad run and am getting crushed in an hour, I may, like you, just drop to a lower table.
May 22nd, 2011 at 10:32:07 PM
permalink
I'm sure you're right about people playing for fun. Given the crappy play I've seen in most games, "fun" must be the only thing they have in mind. I have always found it more fun, however, to win than to lose, so figuring out an amount to win just makes sense to me. It's also silly to call "double your money" meaningless. I would think any notion of how much to risk and what kind of return you would like are all arbitrary. I would just be interested in hearing what others think. For example, I had a horse playing friend who used to bet each race to win $100. Sure this was arbitrary, but it meant something to him as far as enjoying the experience.
