Poll

4 votes (11.76%)
8 votes (23.52%)
5 votes (14.7%)
11 votes (32.35%)
3 votes (8.82%)
3 votes (8.82%)

34 members have voted

GWAE
GWAE
  • Threads: 93
  • Posts: 9854
Joined: Sep 20, 2013
December 21st, 2013 at 8:36:04 PM permalink
We are small stakes gamblers and we take about $500 for a 1 day trip. My parents and some other relatives play a lot more than we do but when we talk about gambling, the amount of money never comes up. My aunt mentioned the other day that they went to Vegas for 8 days and only took $2500 with them and that was all they were spending. They had all free rooms, food, and shows. I always figured they spent more than that which prompts this question.


So for the purpose of this poll I am curious as to what your stop loss is for a 1 day trip on average. I was going to name this thread, How much money do you take with you to the casino but I knew there would be some smart asses that said they take no money with them but they get a $5000 marker when they get there.

1. If you are with someone but the money comes from 1 place then add those together. ie married couple that has all money together in 1 account.

2. If you go with someone but you have completely separate money and you are gambling with just your money then only count what you spend.

3. Obviously I want to know what the most you are ok with losing and not what your average win/loss is.

4. Leave out any trips where you may be going to just use free play or just eat. I am talking about an actual gambling trip where you are going to play beyond your free play. I guess if you always just play free play then your answer would reflect that.
Expect the worst and you will never be disappointed. I AM NOT PART OF GWAE RADIO SHOW
EvenBob
EvenBob
  • Threads: 441
  • Posts: 28570
Joined: Jul 18, 2010
December 21st, 2013 at 8:57:31 PM permalink
Quote: GWAE



3. Obviously I want to know what the most you are ok with losing and not what your average win/loss is.
.



A good standard is 10 units. Lose that and quit for
the day. Assuming you're flat betting and not using
a ridiculous progression.
"It's not called gambling if the math is on your side."
tringlomane
tringlomane
  • Threads: 8
  • Posts: 6281
Joined: Aug 25, 2012
December 21st, 2013 at 9:35:05 PM permalink
I'm actually the first vote in the $0-$300 category, but generally, somewhere between $200-300 has been my general stop loss the past handful of years. I have made a few exceptions when I play live poker because the stakes are higher and the games I want to play are rare, but I fortunately have not had to exercise that option in almost 3 years. My worst daily loss of the year was just on Monday...about -$250...sigh.
ahiromu
ahiromu
  • Threads: 112
  • Posts: 2107
Joined: Jan 15, 2010
December 21st, 2013 at 9:35:55 PM permalink
To be honest, I've never really understood the concept behind day trips (8-10 hours), and therefore have had one. If I go to a local casino to scratch the itch (2 hours of gaming) - I'll stop cold if I lose about half of a week's take home salary (after tax/medical/retirement/etc). On the other hand, if I'm staying for 2-3 days (normal gambling trip), I stop at around three week's salary, but get worried and slow down my gaming significantly after losing 1.5-2 week's. I bring about double what my stop loss is, because, you know, gambling; I haven't gone full tilt yet though. Food, transportation, and lodging (hopefully not paying for this) are completely separate.

I figured relative amounts would be better than absolute... and less personal. For me, losing $1000 is a lot of money, that's rent or two trips back home; on the other hand, to some people, that might be their disposable income for the week.
Its - Possessive; It's - "It is" / "It has"; There - Location; Their - Possessive; They're - "They are"
tringlomane
tringlomane
  • Threads: 8
  • Posts: 6281
Joined: Aug 25, 2012
December 21st, 2013 at 9:39:15 PM permalink
Quote: ahiromu



I figured relative amounts would be better than absolute... and less personal. For me, losing $1000 is a lot of money, that's rent or two trips back home; on the other hand, to some people, that might be their disposable income for the week.



Yeah, talking relative amounts...$250 is pretty significant to me right now. But unless I see a near 100% gaming opportunity, I dunno if I would up my stakes a bunch, even if I could afford it.
kewlj
kewlj
  • Threads: 216
  • Posts: 4635
Joined: Apr 17, 2012
December 21st, 2013 at 10:17:01 PM permalink
I don't believe in the concept of stop-loss limits. If conditions are good and I am not tired, nor played my desired amount.... I play on. BUT, because I don't want to carry my entire BR on me, I have limited funds on me for security reasons. Generally, if I lose two-thirds of my initial funds, I am ready to call it a day. The exception would be if that were to happen fairly quickly, then I would replenish by higher ATM limits or a trip home or to the bank and continue
teddys
teddys
  • Threads: 150
  • Posts: 5527
Joined: Nov 14, 2009
December 21st, 2013 at 10:17:13 PM permalink
I really need to treat my gambling better. I lost a bundle on this Rincón trip. I need to set stop losses. I cant handle losing these significant amounts. I mean, I stand to get a high paying job soon and I don¨t exactly need the dough, but it hurts. Phil Ivey said you should stop when you ¨feel the burn.¨

Im feeling the burn right now.
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
AlanMendelson
AlanMendelson
  • Threads: 167
  • Posts: 5937
Joined: Oct 5, 2011
December 21st, 2013 at 10:30:26 PM permalink
While I am not in the category of $6,000 to one million dollars, I think that choice is too broad. I know players who have daily budgets of $10,000 and then I know players who take out markers for several hundred thousand dollars at a craps table and to lump them together into the same category is not realistic.

My daily budget is $1,500 but not too often. In other words too many daily $1.500 losses and I can't keep going to casinos. But in a given day that is my loss limit.
kewlj
kewlj
  • Threads: 216
  • Posts: 4635
Joined: Apr 17, 2012
December 21st, 2013 at 11:08:17 PM permalink
Quote: AlanMendelson

While I am not in the category of $6,000 to one million dollars, I think that choice is too broad.



Yeah, $6000 to one million is a pretty big range. Lol. I checked that box, but am in the lower end of that range. I've had a handful of $10,000+ losing days....a couple this year, including the first day I played in 2013....not a great way to start a year. Unfortunately, I've had many more days in the $6000 to $10,000 loss range.
djatc
djatc
  • Threads: 83
  • Posts: 4477
Joined: Jan 15, 2013
December 22nd, 2013 at 12:28:20 AM permalink
My biggest loss in one session is $3k. It was slaughter on a $5 machine. I did also lose that much playing $1 as well, but it was on triple play.
"Man Babes" #AxelFabulous
ClarkWGriswold
ClarkWGriswold
  • Threads: 8
  • Posts: 107
Joined: Jun 19, 2013
December 22nd, 2013 at 1:17:08 AM permalink
My daily budget is usually $250, but I only play multi-line nickle video poker.
Occasionally I'll play triple-play quarters, but I know I need $500 daily for that kind of action.
"I am your average American gambling idiot" - Me
GWAE
GWAE
  • Threads: 93
  • Posts: 9854
Joined: Sep 20, 2013
December 22nd, 2013 at 3:52:43 AM permalink
Quote: kewlj

Yeah, $6000 to one million is a pretty big range. Lol. I checked that box, but am in the lower end of that range. I've had a handful of $10,000+ losing days....a couple this year, including the first day I played in 2013....not a great way to start a year. Unfortunately, I've had many more days in the $6000 to $10,000 loss range.



I should have done maybe 6k-12k then 12k+ or something. I honestly didn't think there were that many people who took more than 6k. That is astonishing and sad to me (sad because I will never have that kind of money) that people are able to take that with them.

However, I am guessing that there is a huge difference between the recreational player like myself and the AP/Professional players. As mentioned, if the play is right an AP will risk losing 10k whereas even if the play is right I am still sticking to my $600 or so. I am using recreational/disposable money and an AP was a specific bankroll.
Expect the worst and you will never be disappointed. I AM NOT PART OF GWAE RADIO SHOW
egalite
egalite
  • Threads: 9
  • Posts: 164
Joined: Dec 30, 2011
December 22nd, 2013 at 6:18:25 AM permalink
For years I haven't and I still can't get my head around stop losses. Not losing all your cash by emptying the ATM I do understand, but why not risk everything you take to a casino (minus the cab fare home), otherwise why bother taking so much in the first place? I have pulled my self out of countless jams far too many times to remember by simply putting in the hours & performing countless rebuyin's. Down 8k rebuyin another 1k, walk 20 hours later 1k up, or turn last 500 into 1k profit after being 6k in the hole. Sure it's better not to lose 5 or 6k in the first place, but hey, it's called gambling and shit happens.

Kind of confirms my first point, why carry so much wedge if you have no intention of using it, of course the opposite sometimes happens and you don't pull out (usually down to loss of composure and irrational betting), my belief is, with a decent game plan AND so long as you continue thinking straight after 20hrs, you can grind back draw-downs.

The flip-side is I never expect to profit $5 or $6k unless I start off betting big which is rare. Usually I start low and my goal target might be anything between $1~$2k, when that strategy hasn't worked and I've needed to re-buyin a few times. When it goes well, I've perhaps turned $1k into many thousands, but it's mainly been recovery. Over the years I'm of the opinion, money provides options, so long as you maintain a clear head (achievable 99% of the time), you can navigate yourself out of a jam with a decent 'roll, plus I hate losing (if I've won 10k over the last few week and lose 500 I ain't happy, as it breaks a winning sequence), so will generally battle until the end, one way or the other.

I'm aware that if you limit your loss, if will provide a smaller target to chase the following session, easier to recoup 1000 than 6000, however if you still feel fresh and in control, why not continue now.

Then you have the opposite scenario, goal targets. Many decades ago I booked a trip to Sky City in Auckland, giving me all Sat, Sun and most of Monday to gamble. My goal target was $5k, unfortunately I reached my goal target inside a few hours of playing on the Sat. Took a break, went to my hotel room feeling chuffed and wondering "now what", I've still got two days left. I ended up bringing my flight forward to the Sunday, as I didn't want to hang around stone cold broke, which resulted from not sticking to the original target, which in it self arrived too early and too easy. We live and learn and move on.
GWAE
GWAE
  • Threads: 93
  • Posts: 9854
Joined: Sep 20, 2013
December 22nd, 2013 at 6:36:00 AM permalink
Quote: egalite

For years I haven't and I still can't get my head around stop losses. Not losing all your cash by emptying the ATM I do understand, but why not risk everything you take to a casino (minus the cab fare home), otherwise why bother taking so much in the first place? I have pulled my self out of countless jams far too many times to remember by simply putting in the hours & performing countless rebuyin's. Down 8k rebuyin another 1k, walk 20 hours later 1k up, or turn last 500 into 1k profit after being 6k in the hole. Sure it's better not to lose 5 or 6k in the first place, but hey, it's called gambling and shit happens.

Kind of confirms my first point, why carry so much wedge if you have no intention of using it, of course the opposite sometimes happens and you don't pull out (usually down to loss of composure and irrational betting), my belief is, with a decent game plan AND so long as you continue thinking straight after 20hrs, you can grind back draw-downs.

The flip-side is I never expect to profit $5 or $6k unless I start off betting big which is rare. Usually I start low and my goal target might be anything between $1~$2k, when that strategy hasn't worked and I've needed to re-buyin a few times. When it goes well, I've perhaps turned $1k into many thousands, but it's mainly been recovery. Over the years I'm of the opinion, money provides options, so long as you maintain a clear head (achievable 99% of the time), you can navigate yourself out of a jam with a decent 'roll, plus I hate losing (if I've won 10k over the last few week and lose 500 I ain't happy, as it breaks a winning sequence), so will generally battle until the end, one way or the other.

I'm aware that if you limit your loss, if will provide a smaller target to chase the following session, easier to recoup 1000 than 6000, however if you still feel fresh and in control, why not continue now.

Then you have the opposite scenario, goal targets. Many decades ago I booked a trip to Sky City in Auckland, giving me all Sat, Sun and most of Monday to gamble. My goal target was $5k, unfortunately I reached my goal target inside a few hours of playing on the Sat. Took a break, went to my hotel room feeling chuffed and wondering "now what", I've still got two days left. I ended up bringing my flight forward to the Sunday, as I didn't want to hang around stone cold broke, which resulted from not sticking to the original target, which in it self arrived too early and too easy. We live and learn and move on.



I knew I shouldn't have titled it stop loss. I know a lot of people don't like that term but I couldn't figure out how to word it. If I said how much are you willing to lose then some people would respond one way, if I said how much do you take with you then people would have said a little but I hit the ATM. I figured by phrasing it stop loss that would get the point across.

I hate winning big right away. When we go to the casino we go to have fun and maybe make money. Usually on our way there we will discuss our plan. Usually if we are taking a day trip to the local casino with $600 then we will either quit after 5 hours or we are up $300. On our last trip my wife was playing BJ and there were no seats at her table so I played Mississippi stud right next to her. I ended up with trips twice in about 15 min with $10 initial bet out. I bought in for $100 and left when I had a purple. I walked over to her and said, OK now what and showed her the purple. Its funny that she got sad because she knew that meant we were leaving after only 30 min. We went and head dinner and talked about what we wanted to do. We decided the night was more about having fun opposed to making money so we continued to play. Of course we lost most of it back.
Expect the worst and you will never be disappointed. I AM NOT PART OF GWAE RADIO SHOW
EvenBob
EvenBob
  • Threads: 441
  • Posts: 28570
Joined: Jul 18, 2010
December 22nd, 2013 at 4:08:04 PM permalink
Quote: egalite

however if you still feel fresh and in control, why not continue now.



Because it's all about control, about making money.
If you're there to have 'fun' and get a jolt out
of gambling, by all means just play play play till
you drop. If, on the other hand, you're a responsible
player, you set goals and limits and stick with them.

I always have a goal when I play and adhere to it
like iron. I've never once kept going when the goal
is reached. I control my game, it doesn't control
me. Which is what you're describing, out of control
playing.
"It's not called gambling if the math is on your side."
1arrowheaddr
1arrowheaddr
  • Threads: 14
  • Posts: 297
Joined: Jun 20, 2012
December 22nd, 2013 at 4:31:07 PM permalink
My tolerance for every game is different. If I am engaged in an AP I would be willing to lose thousands if conditions are good. If I playing a -EV game for "fun" while I'm on vacation in Las Vegas I would only play until I lost $50 or so. I had $650ish in action when I was in town for NFL games last week. $385 in teasers/teaser cards, $131 in parlay cards and $150 is in single game bets. I was going to put in more teaser tickets, but I started to get anxious about it. I ended up going 7-0 in teasers so I wish I would have bet more!
tongni
tongni
  • Threads: 1
  • Posts: 203
Joined: Feb 27, 2013
December 23rd, 2013 at 7:02:30 PM permalink
In most cases I stop slightly below or slightly above 10k. There are compelling reasons to quit on either side of that number. If I'm playing something good, I usually quit when I run out of money. My trip bankroll is the amount I can comfortably carry my person.
  • Jump to: