The Bank and You
  • Let us say for example that you have an almost meaningless edge like 0.23%. Now, we all know that you cannot bet more thant 0.23% of your
    bankroll if you expect not to go broke (infact i think you bet less, but I am not an expert in M.M.).
    Anyways, how much of your bankroll should you keep in: a money market account, short/long term CD?

    I guess the question is: If you are betting such a small fraction of your bankroll,
    then shouldn't 5%+ intrest on 80% of your money (held in a CD) and 20% in a money market/savings account at 2 or 3% lower your risk of ruin or make you more money if you use a casino line of credit? And even if you dont use a line of credit, 50% in a CD and 50% in a money market or some variation should help curb losses? Or is this as meaningless as a 0.23% edge?

    PLEASE NOTE: By "meaningless" i simply mean "compared to higher attainable edges" and considering the higher bankroll one would need do to a high Risk of Ruin. Glad I cleared that up!

    How does a casino line of credit work anyways...never used it.
    Some one told me that it is intrest free, is this true?
  • In AC,casino credit is nothing more than you giving them a post-dated check. Its a bit more complicated,but thats the net effect.You fill out a promissary note that you will repay the casino within 7 days. If you don't,casino submits paperwork to your bank,just like a check.Its kind of like using a fee free ATM.
    If you use credit and win,the casino likes you to pay them back when you cash out.If you lose,they take it out of your account the next week.

    Perhaps its different for hi-rollers,but I have three $1,000 lines of credit there,and thats how it works for me.

    I'm not sure where you got the tidbit that you should only bet the part of your BR that equals your edge,but I suspect you''ll be corrected on that pretty quickly.
  • How do you think that your bankroll should be handled, as far as interest is concerned?
  • Mighty Joe said:
    How do you think that your bankroll should be handled, as far as interest is concerned?

    My BR is what I have on me to gamble with.As long as you are not a pro,depending on the game alone as your source of income,BR protection should be a very low priority.Unless,of course,your BR is also your rent money or your kids school tuition.
  • I am not a fan of losing, be it short or over the long run.

    I simply DO NOT play for fun! Really, gambling games are the most boring games ever created. The only thing that makes them fun is cash. If i could
    make money playing Bridge or GO i would do that instead.

    That aside, i do not gamble w/ rent money <--- LOL.<br /> I am the overpaid son of a business owner and proud of it <--- Double LOL.<br />
    Now, if I understand all the books I have read on gambling and M.M..
    You have to give your edge TIME to show its self. And that is the reason for betting only a fraction of your bankroll.
    You may laugh, but I will only wager 0.05% to 0.10% of my bankroll on any given bet (most of the time).

    Maybe others will bet as much as 1% of their bankroll on a bet. But my question is: when betting fractions of a percent to a percent of your bankroll on a hand, what would the best portfolio be to hedge against negative swings.
    My idea was to keep it simple and put a majority of my cash in 3 month CDs and the rest in a money market account/savings account and possibly use a casino line of credit to keep most of the money earning interest while playing a positive ev game.
    I might start playing more Video Poker for the folling reasons:

    It is now CHEAP and EASY to master the game and instantly know strategy changes to the diff variations using this software ----->

    Your edge can be as much as 0.7% and even 1.6%( Loose Deuce VP ) & the casino WILL NEVER BAR YOU! They set the payouts!

    To get the above edges in blackjack you have to: count cards and make strategy decisions while not changing your bet by a large enough amount that will cause you to be backed off or barred.

    To get those edges in Video Poker, all you have to do is play perfectly which is easily attainable w/ the above software.

    Plus you can zip through hands w/ out waiting for other players or shuffles or shuffle ups.

    You can get paid 800 to 1 or more if you catch a royal flush ( not a bad bonus when your grinding out your edge ).

    More bets per hour + edge = faster gains ( and faster comps if you play for such think of it, counters never(?) get comps? They don't want their gains being tracked!

    Now, not all machines are full pay, but all you do is (speaking of the software here): select the game, punch in the payouts, & out comes a mssg telling you your edge or lack there of w/ a generated strategy guide <--- kewl eh?
  • What you are missing is that playing perfectly on a full pay machine pays off,only if you hit the Royal Flush.You miss that one hand and you are screwed.Many a bankroll has been wiped out chasing an overdue RF.
  • Your bankroll is not "screwed," proper play minamizes losses & perfect play MAXIMIZES your chance of a Royal Flush ( & a Royal FLush is ONLY like 43,500 to 1 )

    There is no such thing as "overdue" ...

    ...even in blackjack, if you keep catching losing streaks in high counts when your betting big(er) your bankroll is "screwed."

    Which again brings me back to my point; i only bet 0.05% to 0.10% of my bankroll. Which means that, if I bet $5, I want to have a $5,000-$10,000 bankroll...I heavily lean toward $10,000. This insures that my edge will have time enough show its self w/ out running the risk of my bankroll being "screwed"

    Anyways, correct payout is correct payout no matter how difficult it is to win. Atleast, when you do lose, you get to lick your wounds while eating comped dinners and/or tossing and turning in free rooms.
  • How about checking and responding to questions regarding you Fast Cash BJ post?
    Been waiting along time for you to elaborate on the rules of the game.
  • sorry,I didn't notice anyone had responded to it

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