Best Cashing-Out Practices??

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Jlit
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Joined: Fri Apr 22, 2022 8:42 am

Best Cashing-Out Practices??

Post by Jlit »

Hey All,

New to Video Poker, have learned a ton here and have crushed some games hitting some nice wins to keep me slightly up overall so far!

My question has to do with a winning strategy with Bankroll management and expectations from a game (when to get up/cash-out). I've never left fully up at my maximum for a session, after hitting some "mini-jackpot" type hands like 4 aces or other 4 of a kinds/straight flushes. No Royals for me yet!

Assuming no royals, but a nice run with other hands, what is an average # of Credits/Coins you aim to be up before leaving the game/ending your session? Maybe you set a time limit instead? Maybe in the long-run this doesn't actually matter?

Thanks guys! :up:

Gronbog
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Post by Gronbog »

Jlit wrote:
Sun Apr 24, 2022 5:36 pm
Maybe in the long-run this doesn't actually matter?
You nailed it

BobDancer
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Joined: Wed Mar 04, 2009 2:07 am

Post by BobDancer »

Gronbog wrote:
Sun Apr 24, 2022 8:00 pm
Jlit wrote:
Sun Apr 24, 2022 5:36 pm
Maybe in the long-run this doesn't actually matter?
You nailed it
I agree, and would like to flesh out that conclusion more.

When you're new to gambling and trying to absorb everything, you look at a variety of things --- hoping to find a key to success. Many players look to "when to cash out" as perhaps being one of these keys. It seems logical that it is, because all of us have experienced being way up and then lost everything we were ahead and ended up losers. It seems obvious that if we had just quit when we were ahead, we would have avoided all of that losing.

Unfortunately, it doesn't work that way. Sometimes when you get ahead 500 credits (as one arbitrary figure), if you continue to play you'll find that that was the high point. Other times being ahead 500 credits, if you continue to play, you'll hit a royal flush that day and be up more than 4,000 coins.

There is nothing special about being ahead 500 credits since you got out of bed this morning. It's all one big play. Your score will go up. Your score will go down. When you choose to stop for the day and record your score is largely irrelevant.

What does matter is: are you playing a game where you have the advantage? If not, you're going to lose, no matter what money management systems you practice. Saying, "I can't find any games where I have the edge, but I'm going to play anyway" leads to eventual losses.

Do you know the correct strategy well? Mistakes cost money. Guestimating the best play can be expensive. Playing games you don't know well is a bankroll buster.

Are you awake and sober enough to play well? This is far more important than how big your score is.

Are you playing during promotions? Multiple points (there are a variety of types of points at different places) are better to get than single points. Playing when you get gift cards is better than playing when you don't get gift cards. Playing when you earn drawing tickets is good if you can be at that drawing. Etc.

Swiping in at the kiosk before you start play is important at some casinos. Other places it doesn't matter when you swipe, so long as you swipe sometime during the day. Other places don't require swiping at all. Keep track of the rules at the places you play. Don't assume that the next place is the same as the last place. It probably isn't.

These things are FAR, FAR more important than when to cash out.

olds442jetaway
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Post by olds442jetaway »

I have to agree although looking back on things, there are many more times I wished I cashed out when up a good amount than stayed and played. Just coincidence I guess. Probably remember the times I gave lots of won money back better than the times I stayed and won more.

Jlit
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Joined: Fri Apr 22, 2022 8:42 am

Post by Jlit »

BobDancer wrote:
Mon Apr 25, 2022 3:34 am
Gronbog wrote:
Sun Apr 24, 2022 8:00 pm
Jlit wrote:
Sun Apr 24, 2022 5:36 pm
Maybe in the long-run this doesn't actually matter?
You nailed it
I agree, and would like to flesh out that conclusion more.

Thank you all for your answers, and especially appreciate the extensive thoughts and ideas here. It makes a lot of sense! :idea: Long run is all one big game...gotta play perfectly, take advantage of promos, and know the edge. Simple :geek:

advantage playe
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Joined: Sat Oct 21, 2017 11:38 am

Post by advantage playe »

Not that simple, work required !!

onemoretry
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Joined: Tue Mar 03, 2009 8:00 pm

Post by onemoretry »

advantage playe wrote:
Tue Apr 26, 2022 2:07 pm
Not that simple, work required !!
I as going to say that - you beat me to it!

BobDancer
Video Poker Master
Posts: 1112
Joined: Wed Mar 04, 2009 2:07 am

Post by BobDancer »

advantage playe wrote:
Tue Apr 26, 2022 2:07 pm
Not that simple, work required !!
Your comment followed, " Long run is all one big game...gotta play perfectly, take advantage of promos, and know the edge. Simple!

In my opinion, you're both right!

The process is fairly simple. There's a fairly clear path towards success.

It's not so easy, though, to stay on the path. The biggest pitfall not listed in the brief summary above is discipline. Once you know where the path is, you have to avoid straying from that path --- assuming your goal is making money.

1. Don't go chasing your losses using some Martingale (modified or not) scheme. The math on that is really clear.

2. If the game you find does not meet the criteria of being more than 100%, everything included, don't play! (This one seems to be the hardest for many people. They think that since they're already there, they HAVE to play.)

3. Don't play hunches. Correct decisions are made by math, not by feelings!



Of course, if your goal is to "have fun," which is a perfectly valid goal --- it's just not mine, you can disregard my advice. Just realize that having fun can be very expensive. If you can afford it, you're entitled to make whatever choices you like.

advantage playe
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Joined: Sat Oct 21, 2017 11:38 am

Post by advantage playe »

Go by the real , not the feel !!

Chicagoan
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Joined: Sat Oct 10, 2015 4:17 pm

Post by Chicagoan »

It is all one big long game, regardless of individual session length. I always know exactly what my bankroll position is, in terms of my cash winnings. The bankroll position takes major swings up and down over time, but if I *play the right games the right way*, it gradually increases.

You cannot accumulate a nice bankroll over time by playing scared. Like I just wrote, there are major swings up and down. Changing everything, becoming discouraged, or even quitting altogether because of a major downward swing is what I call playing scared. *Play the right games the right way* and you will see a gradual increase ........ but roll with the punches --- downward swings are a natural part of VP.

To play the right way, you need to be able to concentrate on each hand. I see too many players play in automatic mode until something interesting pops up. Think and concentrate on each hand --- some provide unexpected opportunities. Don't come to the casino on 5 hours of sleep. Don't order alcoholic drinks. As BD wrote, don't think that you "have to" play today. If a decent paytable is not available, enjoy the ride home.

Even if you do everything perfectly, major downward swings are still likely and that's an expected part of the equation. I lost $2,100 three days ago and went home feeling ok because I know it happens. I am still up almost $36,000 with my 2022 bankroll and I totally realize (and accept!) that it will sometimes take major hits. But if I *play the right games the right way*, it will continue to gradually increase.

(Disclosure: At one time I played session by session, glorying in winning sessions and ready to jump off a bridge after losing sessions. It was not until I starting playing with a unified, long-term bankroll and accepting the major swings of VP that I realized how to play smart.)

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