Bankroll comment/question

Some of us agree, if you are up 20% of your BR, quit for the day. I have no issue with that. My real question however, some have a rule of.......if you lose 70% of your BR (whatever the %), also quit for the day.

Question being, why not just BRING that 70% (which would be 100%) to the casino and when/if you lose it ALL, then quit? I dont see the difference. Why have the higher BR if you KNOW it will NOT be used?

Ken

In my opinion, it's just more of a mental thing. Sure we all know that $70 is 70% of $100 and you can play until you lose 70 or you could just walk in with $70 and play until you lose it all and still have the same (mathematical) effect, but for me it always feels better to walk out after a bad night and say well I got some drinks, a free buffet and at least they didn't take all my money.

Just my two cents (or 1.4 cents, however you want to play it)

Been thinking more about this as of late. Alot of times I bring 4K with me and am willing to quit if down $2,800.

So, I guess I should just bring $2,800 with me and be open to losing it all?

Ken

If you lose 70% of your buy-in, when you're done you color up, maybe throw in a toke, get the "better luck next time" from the dealers, and then leave the table. If you completely bust out, you just turn around and leave. The latter is usually harder on one's ego even if the financial loss is the same.

Quote: rebelaccountant

In my opinion, it's just more of a mental thing.

Ya know, I guess it is, but it currently occupies a lot of my thinking... "strategy" if you like.

The Wizard has commented "For the recreational gambler there is no method of money management that can either add to or take from the house edge over the long run, so why dwell on it?" I guess my answer to that is that I find it impossible *not* to dwell on it. I don't consider myself a person who is ruled by emotion, perhaps priding myself that this is so, but in my case gambling has proved itself capable of mocking this hubris. Also, I don't think you can say that bankroll matters in, say, positive EV video poker but none of the principles make any sense for other gambling. If risk of ruin matters in video poker then it matters in other gambling, perhaps especially with near-zero HE situations. I say this not to challenge the Wizard but to just have some discussion.

Quote: mrjjj

Some of us agree, if you are up 20% of your BR, quit for the day. I have no issue with that. My real question however, some have a rule of.......if you lose 70% of your BR (whatever the %), also quit for the day.

Question being, why not just BRING that 70% (which would be 100%) to the casino and when/if you lose it ALL, then quit? I dont see the difference. Why have the higher BR if you KNOW it will NOT be used?

Ken

I always like to have options. I am not as 'exact budget' driven as you. I may go to my local casino with an 'idea' in mind not to lose more than $300. However, if I am having a good time with a new friend, or just lost too quickly and don't want to go home yet, I may alter that initial 'bankroll'. I understand the 'a session is a phoney concept' concept... and evaluate whether I want to stay as the 'session' goes on. So if I pick $300, I'll usually bring at least $500. I can only remember 1 time I exceeded my phoney bankroll number, and that time variance was on my side and I started winning... I never pre select an 'up ' stopping point. If I'm up and am having a good time I may set arbitrary 'stop' points, like if I'm up $400 I'll stop when I drop to up $200. I tend to stick to those, as my personal goal is to leave the casino ahead each 'session', and the actual amount I win is of less 'value' to me than the feeling of just leaving a winner.....

Quote: SOOPOO

I always like to have options. I am not as 'exact budget' driven as you. I may go to my local casino with an 'idea' in mind not to lose more than $300

Its an example of the first rule: its supposed to be fun. How free of a leash do you want to be. Which games do you really enjoy. If some is "up" or even "up a good bit" they are likely having fun and not too inclined to walk or set absolutely strict limits. Will this lead to later regrets? Maybe. Some people set stricter limits and even use an alarm clock on a vacation. Its a matter of personal style and we all know that no matter how disciplined a player is, there will be some regrets and some celebrations about it.

If I'm "up a bit" I'll take a break and then comeback for more.