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Quit while you're ahead !

Discussion in 'Casino Gaming' started by Ben Jammin, Dec 6, 2014.

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  1. Ben Jammin

    Ben Jammin VIP Whale

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    I was at the Circus and the guy next to me hit a thousand dollar jackpot. He then put it all back in and bought another 300 dollars into the machine. I couldn't contain myself . I said WTF is wrong with you? You had a free trip to Vegas .

    Steve Wynn says he keeps the majority of the gamblers money. It has to do with human nature. When we win we want more. When we lose we run. So.... most of you run when you're down. The casinos know this. That's why if you stick to basic strategy, and I mean to the letter, you will give the house the minimum percentage, so you can reap the rewards of RFB (room food and beverage) to the max with an minimum investment. But who does that?

    Anyone can buy a basic strategy card at any casino gift shop for about $5 bucks. Check it out. If not you can download one from the Wizard of Vegas Web site for free. Do it,.

    If you can actually control you're urges and practice money management you can actually beat the casino at their own game.
    The house always wins that's true but you can reduce your losses.

    I am a follower of John Patrick, and he has a money management system that works . Love him or hate him it is what it is. He has made me THOUSANDS of dollars over these years. Yes he's a bit unorthodox but hey, it works for me .

    Do what you will.
    .
     
  2. JeJas

    JeJas VIP Whale

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    I thought you were talking about a slot player.
    Is there a strategy card for that?
     
  3. BayouBengal

    BayouBengal VIP Whale

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    If I ever get up a decent amount from my buy in, I always have a new loss limit. on a slot if I hit something that is $100 plus I will play it doe to an even amount and then cash out and take a walk. I treat my sessions independently and it doesn't matter if I'm up $xxx. I hit a $350 progressive on Ghostbusters, I cashed out and put a new $20 in and went from there banking that win.

    - - - Updated - - -


    Yeah it's called don't play them. But that jackpot and bonus round! Them titties and beer on Bierhaus mesmerize me hahaa.
     
  4. DaiLun

    DaiLun R.C., L.C., and A.A.N.G.

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    Yeah, but what if he was 15 minutes in to a 3 day trip?? Should he quit for 2 days, 23 hours, and 45 minutes?
     
    Last edited: Dec 6, 2014
    New Orleans 7* retreat. Food, food, and more food . . . .
    Tentatively Tahoe or LV . . . .
  5. Hobofrank

    Hobofrank Prime Minister of Idiocracy

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    I had excellent money management this trip.....because i had to cancel, lol
    BR intact
    then again rolling ankle the night before my flight didn't seem a lucky omen
     
  6. REELmoneySlotFan

    REELmoneySlotFan High-Roller

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    What always seems to work for us is this:
    We have a daily bankroll for gambling of about $400
    When we start playing a machine we insert $20 or $40. We play penny, quarter or dollar slots mainly. When our initial $20 or $40 grows to a benjamin we cash out and put the Tito away. We then start over with $20 or $40 and play again. We continue this routine until we've ran our daily $400 through the machine. Then we count our Tito tickets. If our total is higher than $400 we only gamble with the profits we had that day (above the $400 mark). If we've lost money we first look at our watches and estimate the amount of time we've played. If we still feel like playing, we might continue until we have $200 left or $0 (depending on what time of day it is). When we have 3 days left we look at our total budget to see where we are. If we're up considerably, we might step it up a little in the gambling department and play machines at $3 to $5 a spin to win some more. On the last night of our trip we look at our balance and decide if we want to take part of our bankroll back home for another trip. We've had trip where we were up about $2500 at the end of the trip and decided to take $2000 home.
     
  7. Rush

    Rush High-Roller

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    You're never going to change people. Some have control.......some don't.
     
  8. Blueberries

    Blueberries Low-Roller

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    Not trying to start a dispute...
    I'm on vacation, gambling, drinking, having fun and I have a daily bankroll of $ and I win $, I will continue to gamble if so inclined.
    If you said that to me, I'd be wondering to myself ( I stress myself ) why you are at this table/slot if money is such an issue for you that your concerned about mine.
    You have no idea of my means or what being ahead is to my books.
    Just Saying :peace:
     
  9. nostresshere

    nostresshere Mr. Anti Debit Card

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    Something has been overlooked here.

    This is about Vegas. Gambling. Fun.

    If I stayed home, I would be up a few thousand bucks. Do I stay home? Nope!
     
  10. marcianofan

    marcianofan Low-Roller

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    I agree, and who's to say that this person isn't still ahead after blowing that $1000 !! Who knows what that persons bankroll is ?? I try to mind my own business....
     
  11. touche22

    touche22 Low-Roller

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  12. Sam in Ut

    Sam in Ut High-Roller

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    +1 on the last sentence...
     
  13. Electroguy563

    Electroguy563 Over-Fried Gambler

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    Yes, exactly. It would be best for everyone to just MIND YOUR OWN BUSINESS!!!
     
    Going to Hawaii's 9th Island!!
    Going to Hawaii's 9th island!!
  14. C0usineddie

    C0usineddie VIP Whale

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    Say i would win 1k at a slot machine.

    i will cash that out and put it in my pocket because the whole purpose of playing it was to get free drinks and cash out a large ticket.

    i might continue to play but I will treat it like i am starting a new gambling session with my typical small buy in.

    No way would i leave the ticket in there and just play the winnings. no possible way i would do that.

    Last trip i had just gotten there and was going to play my favorite machine. I put $100 in it, hit max bets which I never do and doubled that $100.

    1 spin, I cashed out and went about my day like I had a full gambling session under my belt.
     
  15. BeeeJay

    BeeeJay President of The Red Lobster Hostess Satisfaction

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    Next best thing to never starting to play a -EV game is quitting sooner rather than later.

    My entire theory is that I hope to experience small positive short run variance and get out.

    There is a reason the casino wants 4 hours a day of play. Best bet hit & run and get out when ahead a bit, hope to book an occasional winning session or even winning trip.

    Theoretically over a lifetime of gambling you should lose less than playing on and on endlessly, and anecdotal evidence in my experience suggests I'll do a lot better than if I played each session til I either win huge or lose it all.
     
  16. shifter

    shifter Degenerate Gambler

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    yep.

    you can tell the people in this thread that lose their entire bankroll pretty much every trip.

    if you go into it "expecting to lose", "just wanting to enjoy the trip", etc, you're guaranteed to lose it all.

    which is fine if that's your idea of entertainment. everybody has a different idea of fun and if you just want to play and don't really care about they money, go for it.

    but this thread is for the people who like their money and want to keep it.

    last trip I hit that great shoe at Cosmo on Sat afternoon and wasn't leaving until Monday afternoon. didn't matter, I didn't gamble $1 after that.

    I'm there to win money every chance I get and when I have enough play to keep my host happy and a nice win to boot, I'm done.
     
  17. jaybert

    jaybert Low-Roller

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    I have a similar strategy but mine is to hit a huge positive variance streak.

    I always bet big relative to my bankroll with the plan to either lose it all, or hopefully hit a nice streak and take down a big win. I had a great 2012 where I had 3 great trips in a row which essentially wiped out my losses for the previous 10 years. Nothing like bringing $2k as my Br for an overnight trip to borgata and ending with betting $5k/hand (and actually winning more of them than I lost)
     
  18. TIMSPEED

    TIMSPEED !địt mẹ!

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    I could write a book on this, but along these lines..."don't play for comps."
    Gambling takes luck, and a LOT of expendable income, PERIOD.
    No matter how "perfect strategy" you play, the house will win.
    Even at BJ, or Video Poker...even at .5% HE...multiply that .5% over $1M (the course of 1 year of serious play). That's a GUARANTEED loss of $5000.
    Is the casino going to give you $5000 worth of "comps" over the year?
    MAYBE, for a year...but if status quo is kept, they won't continue it..its a BUSINESS, not a charity.
    Gambling is entertainment, pure and simple...keep it that way, and let it be that way for other people.
    :hammer gavel:
     
    Palace Tower Suite!
  19. Kickin

    Kickin Flea

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    Just based anecdotally on what I've read on this board slot players are generally of the attitude that their bankroll is a sunk cost or loss right from the beginning. I don't know how many times I've read slot players say things like if they come back with anything they consider it a win. And if they are just chasing big jackpots it makes sense to keep churning those smaller wins back in.

    For me a win is a win, the more the better of course but I don't really consider it because its not realistic that I will win a huge amount. So I am pretty likely to color up after a nice run, whatever the amount. An ideal trip for me is walking away with any win, getting everything comped, having fun on the casino's dime, and then leaving them as an unprofitable customer.
     
  20. Snidely

    Snidely VIP Whale

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    Agree 100%. Same way I play. I put $20 in a 6/5 JOB VP machine at a sports bar two weeks ago just to watch football and get free drinks. Hit a royal for $1000. Cashed that out immediately and stopped playing. Won money and got free drinks. My goals were met.

    I don't care what other people do whether it's gamble their winning away or not tip dealers.
     
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