Bank roll mismanagement

Discussion in 'Bankroll Management' started by Cayman123, Mar 27, 2018.

  1. Cayman123, Mar 27, 2018

    Cayman123

    Cayman123 Member

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    Woe is me after reflecting on Saturday’s craps outing.
    I was down but had a hot roll and got back to almost even. The young guys st my end of the table did well and a dealer even suggested to them maybe good time to cash in and get dinner. Dealers are so smart they see players loose it back all the time. And that’s what happened to me. From now on “almost even” is going to be good enough.
     
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  2. The Midnight Skulker, Mar 28, 2018

    The Midnight Skulker

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    Happens to the best and most experienced of us. Perhaps I should start a new thread titled "The most memorable trip I wish I could forget" with my tale, but instead I will just link to one on the old Usenet newsgroup since others also related similar sentiments.

    NB. In case he didn't mention it -- I only scanned the OP of the linked thread -- Allen Vonah, the thread's originator, was a dealer in Kansas City.
     
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  3. basicstrategy777, Apr 4, 2018

    basicstrategy777

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    Many books you read ( including mine) say you should have win goals and loss limits.

    A loss limit is a steel floor you must not penetrate under any circumstances........a goal is something you strive for.....you can reach it....exceed it....come close to acheiving it. Where you stand here i.e. what you will do , is pretty much your call. And how you play after your achieve your goal, is also your call.

    The point I will make here is this.......people may be 5 dollars from achieving their goal and end up broke trying to achieve it. It is not bad strategy to be happy to be within 90% of your goal and walking. Being close is very good.

    So, one strategy is quitting when close to your goal.

    When going for my MBA in finance, one instructor said, when making financial decisions you should ask yourself 3 questions....what is the worse that can happen....what is the best that can happen....what is the most likely to happen......if you quit at 90%...ask yourself those questions and answer honestly.

    777
     
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  4. KokomoJoe4, Apr 4, 2018

    KokomoJoe4

    KokomoJoe4 Member

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    Can not argue with your logic 777, but personally I want to go for the gusto on the rare occasions when little is going wrong.

    The only time I wish that I was sitting across are the times when I see number after number that I am not on showing.

    The benefit of one bet at a time and progressions is that you really do not need to win a large number of wagers, but they do have to come uninterrupted by a loser.

    I will never set a win goal, and will always progress as far as I can and as quickly as I can in an attempt to reach the table limit. Getting there is difficult enough, but all I am asking for is maybe 5 or 6 winners when at that level.

    Fifteen years and a lot of sessions of playing the way I do, I honestly thought I'd have a few more good experiences with this than I have. Goes to show you this is a tough game to beat.
     
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  5. basicstrategy777, Apr 4, 2018

    basicstrategy777

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    Koko.....and I cannot argue with you.....

    I believe the way to get ahead in this game is to keep going up on your bets, as you do. The proof is in the pudding, and I believe you ARE ahead playing your way. Having a few tremendous wins can cover alot of 300 dollar loss limits.

    I also go up on my bets but am more conservative and will either get off the table after a very good run or regress my bets significantly and try to work my way back up.

    I bugs the heck out of me if I were to see 3 grand on the table getting wiped out by a 7. Trees do not grow to the sky.

    I must say....I admire your play and go for it attitude. The faint heart never won the maiden.

    777
     
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  6. random_roller, Apr 4, 2018

    random_roller

    random_roller Member

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    I found my MBA in Finance in a cereal box. I believe it is from Captain Crunch U (CCU).

    Because CCU isn't AACSB accredited, I'm only entitled to ask myself 1 question: "Do You Feel Lucky, Punk?"
     
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  7. basicstrategy777, Apr 4, 2018

    basicstrategy777

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    You are fortunate to have found it in a cerel box

    It took about 4 years of nite school....working in the day, school at nite....to get mine.

    777
     
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  8. random_roller, Apr 4, 2018

    random_roller

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    Working full time and going to grad school is tough. Even more so if you had a spouse/children at the time. Good job.

    Actually I went to B-school full-time. My "job" during school (when I wasn't working as a TA) was dominating on the basketball court. I was a rebounding fiend and shot-blocking terror. Still not sure how the NBA missed drafting me.
     
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    Last edited: Apr 4, 2018
  9. KokomoJoe4, Apr 4, 2018

    KokomoJoe4

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    If I were you RR, I'd take my talents to south beach.
     
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  10. tabletop123, Apr 4, 2018

    tabletop123

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    Very well said! I like the 20% rule. Yep, it ain't much. Yep, ya might miss out on big wins, but those very small 20% wins have you heading to the Cage a whole lot quicker than standing at a table, & grinding hours on end!

    They also can put a nice little nest egg in the "Safe" for you!

    A player buys in for $300, wins $60, & IMMEDIATELY says: "I didn't drive 2 hours to the Casino to only win $60 sinking dollars"! It barely covers gas expense!

    A guy says: " I only play for entertainment"! To have a little fun......but a $60 win playing a Negative Expectation game is not enough? Go figure! Lol.
     
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  11. KokomoJoe4, Apr 4, 2018

    KokomoJoe4

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    This is exactly what I mean when I said that you might be surprised how well quitting if/when you get ahead can work.

    It does not work nearly as well for the gambling time/satisfaction issues.
     
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