Paying Expenses
Quote: sodawaterseparate bankrolls are an illusion.
Certainly, we all work out of a general fund, don't we?
Nonetheless, I have always been inclined to keep track of how I am doing, but that only includes gambling win/loss including tips. I never figure in travel expense etc. For me it's the latter that is the bigger factor too ... just too much of a buzzkill to include that LOL
Quote: odiousgambitCertainly, we all work out of a general fund, don't we?
Nonetheless, I have always been inclined to keep track of how I am doing, but that only includes gambling win/loss including tips. I never figure in travel expense etc. For me it's the latter that is the bigger factor too ... just too much of a buzzkill to include that LOL
Exactly....in the end it's all the same money. Having said that, I too tend to maintain a bankroll, just for gambling. I pay other expenses out of another roll or use a credit card(hotel, rent-a-car etc) where paying cash is impractical. Does money from the left pocket sometimes cover the right pocket....um yeah occasionally. But I try to keep the "accounts" separate for accurate record keeping purposes.
Quote: vendman1Exactly....in the end it's all the same money. Having said that, I too tend to maintain a bankroll, just for gambling. I pay other expenses out of another roll or use a credit card(hotel, rent-a-car etc) where paying cash is impractical. Does money from the left pocket sometimes cover the right pocket....um yeah occasionally. But I try to keep the "accounts" separate for accurate record keeping purposes.
well yes but lets suppose i have 15k$ left for blackjack. trip to vegas from here costs like 1500$... if i want to visit it 2 times per year its 3000$... 1/5 of money lost....one trip card counting doesnt win so much back
Quote: MathExtremistIf you're claiming deductions as a professional gambler, (a) you need to keep separate accounts and properly manage expenses and (b) you need to talk to your tax person. Otherwise it doesn't matter, it's all the same money. If it makes you more comfortable to have a better accounting of your wins and losses in case you get dinged with a W-2G, that's also prudent. But the only time it really matters is if you're claiming deductions off the top.
I didnt understand your reply at all sir, im a guy who wants to make money and having fun on trips not playing everyday just visit vegas ( btw is ac, reno and laughlin with good rules??)
Twice a year and card count.what would u do? The taxes are from airport. I cant visit without paying first... Any ideas?
Quote: sodawaterseparate bankrolls are an illusion.
Yes, but there's nothing wrong with that if it makes you more comfortable.
Several years ago, I had extensive conversations with a long-time, full-time successful AP on another site about bankroll. He claimed that a players entire wealth was his bankroll, right down to his home, that it was all the same money. I understand his point, but I never liked that idea.
One of the more difficult periods in my own professional AP career occurred back in 2011. In late spring and early summer, I went through one of those all too common negative swings of 30-some grand. At the time, this was about 25-30% of my total bankroll. And then I got sick. Came on very suddenly, requiring major heart surgery with an extensive recovery period, with a bit of a medical setback during recovery that prolonged recovery.
All-in-all, I was laid up more than 3 months, closer to 4 if I remember correctly. For a professional AP/blackjack player this means time with no money coming in but living expenses including mortgage still need to be paid. So no money coming in, but money still going out. And then the medical bills started rolling in. Even with insurance, we are talking good chunks of money going out. And all this coming on the heels of what at the time, was the biggest negative swing of my career. My 'wealth' and subsequently bankroll ended up going down 50 percent during this losing period, illness and recovery. It just felt like I was hemorrhaging money. And the worse part was plenty of time on my hands laying around dwelling on the situation.
From that moment on, I adjusted my finances to include separate money for living expenses, bankroll and later money just saved for emergencies. It may be all the same money, generated the same way (in my case from AP/blackjack), but psychologically it helps. At least that's what works for me. :/
Quote: kewljYes, but there's nothing wrong with that if it makes you more comfortable.
Several years ago, I had extensive conversations with a long-time, full-time successful AP on another site about bankroll. He claimed that a players entire wealth was his bankroll, right down to his home, that it was all the same money. I understand his point, but I never liked that idea.
One of the more difficult periods in my own professional AP career occurred back in 2011. In late spring and early summer, I went through one of those all too common negative swings of 30-some grand. At the time, this was about 25-30% of my total bankroll. And then I got sick. Came on very suddenly, requiring major heart surgery with an extensive recovery period, with a bit of a medical setback during recovery that prolonged recovery.
All-in-all, I was laid up more than 3 months, closer to 4 if I remember correctly. For a professional AP/blackjack player this means time with no money coming in but living expenses including mortgage still need to be paid. So no money coming in, but money still going out. And then the medical bills started rolling in. Even with insurance, we are talking good chunks of money going out. And all this coming on the heels of what at the time, was the biggest negative swing of my career. My 'wealth' and subsequently bankroll ended up going down 50 percent during this losing period, illness and recovery. It just felt like I was hemorrhaging money. And the worse part was plenty of time on my hands laying around dwelling on the situation.
From that moment on, I adjusted my finances to include separate money for living expenses, bankroll and later money just saved for emergencies. It may be all the same money, generated the same way (in my case from AP/blackjack), but psychologically it helps. At least that's what works for me. :/
Wow im sorry to hear that, both that surgery and swing. I dont know what i could do... The problem is i dont even have 5000$ as im not working, i turned 21 and started building bankroll... As i said being a european costs like 1500$... I think i have to collect 20$K first as i cant build it from currect 4000$... Then i dont know swings would be devastated as its lifetime money... I could stop either at 10k swing but dont know how down it would plummet more..
nothing is compared to vegas...
Quote: GeorgePaneonly london and monte carlo probably... greece everywhere csm , bulgaria 6:5 , france high rollers
nothing is compared to vegas...
Monte Carlo has csms...I know there was a private room that you have to pay to get into, maybe they have shoes, for very high minimums though.
Maybe try Prague? Whenever I think Europe, I think of London and Prague for blackjack that uses shoes. Never played in either but that's what I heard.
Quote: GeorgePaneonly london and monte carlo probably... greece everywhere csm , bulgaria 6:5 , france high rollers
nothing is compared to vegas...
I think it's Europe (maybe I'm thinking of Asia or South America or Africa [wait there's casinos in Africa?])....but I remember people talking about there being +EV games off the top. Doesn't matter if it's a CSM or not. Just flat bet. I don't remember what kind of edges they were....I'm thinking 0.25 to 0.50% player edge.
