value of a ticket vs real money

[notes1]

brought up the subject, on another thread, of whether player behavior regarding cashing out was the same for a larger win as opposed to a series of smaller aggregate wins. if you are a player that believes strictly in the math, stays at the same machine all day, this topic may not be for you. but, if you believe that your results are not one long continous play, it might be an interesting discussion. when investing one's money, it is often suggested to 'take some profits'. if we put cash into a machine and it increases in value by 20%, do we take our gains? does the fact that we are playing with a ticket affect how we value it? are we less likely to cash out series of small wins as to a large win?

[FloridaPhil]

I don't think the timing of when you cash out has any real affect on your long term results.  However, cashing out so you have "going home" money can be beneficial if only to tell you when it's time to leave the casino for the day.   Not doing so leads to too many "empty pocket days" which can have a serious negative effect on your attitude and I believe a good attitude helps you win. 

[misterlister]

I cash out often and I more often than not leave a casino with some extra moola. I lose overall but I have a good time doing it. It's all about the enjoyment for me.

[FloridaPhil]

[quote=misterlister]It's all about the enjoyment for me.[/quote]Me too.  It's only a game.  We control when it starts, when it stops and the cost of admission.  It's only when we let the casino marketing people mess with our heads that we get into trouble.  

[alpax]

I play a finite amount per visit no matter the outcome to ensure I will have a good chance of receiving similar offers down the line.

I just think it is a fallacy that a player (planning to play in the long run) who wins big early and quits right away for the day. They will have less action recorded on the system as well as a win, both may factor into lesser offers for the next visit.

[FloridaPhil]

[quote=alpax]I just think it is a fallacy that a player (planning to play in the long
run) who wins big early and quits right away for the day.[/quote]I don't know anyone who would actually to that.  If I won big early, I would put the win away and play the rest of what I came in with and go home with my big win.

[notes1]

what i was wondering was whether the gambler sees a $20 chip or a $20 ticket, the same as a $20 bill.  most of the VP machines i play display your balance in either credits or cash. i try to remember to always change the display to cash, to remind my self i am playing with real money. 

[alpax]

[quote=alpax]I just think it is a fallacy that a player (planning to play in the long
run) who wins big early and quits right away for the day.I don't know anyone who would actually to that.  If I won big early, I would put the win away and play the rest of what I came in with and go home with my big win.

[/QUOTE]

I might add that I am one that sees the game as a long continuous run so I see myself on the losing end despite the possible big wins that occur occasionally. The offers from the casino will lower the house hold on the player, so playing at a lesser edge will be of value.



what i was wondering was whether the gambler sees a $20 chip or a $20 ticket, the same as a $20 bill.  most of the VP machines i play display your balance in either credits or cash. i try to remember to always change the display to cash, to remind my self i am playing with real money. 

Compulsive gamblers that I've seen act and feel like money is of less value on the casino floor than it is outside.

A responsible gambler does see it as cash.

[FloridaPhil]

[quote=alpax]Compulsive gamblers that I've seen act and feel like money is of less value on the casino floor than it is outside.[/quote]This is a real easy pit to fall into.  You win $1,000 at 9 AM and think you're playing with house money and give it all back plus some.  Been there done that, but not any more.   I hoard that $1,000 jackpot like it's my last.   I have no doubt that Bob Dancer is a great video poker player who seeks out opportunities and finds them, but  I also believe his frugality has much to do with his success where others have failed.

[BobDancer]

[  I have no doubt that Bob Dancer is a great video poker player who seeks out opportunities and finds them, but  I also believe his frugality has much to do with his success where others have failed. That's a fair assessment.Also those who argue travel expenses are irrelevant for those who can deduct them from their taxes are confused on how tax deductions work.Deducting certain expenses from your taxes does not totally reimburse you. If you're paying taxes at the 30% rate, for example, only 30% of the money spent on travel comes back to you. Is it better than getting 0% back? Of course. But it's nowhere near 100%.For these expenses to be irrelevant, you'd have to get 100% back. And you don't.There are players who manage to collect transportation costs from several casinos at once. So for a  trip that actually costs $500, they receive $1000 or $2000 back. That's an advantage play! Some do this AND still deduct the $500 in expenses on their Schedule C. I'm not claiming to have done any of this, but those players who play for low stakes and decide that high stakes players cannot possibly be a net winner really have no clue as to the range of techniques available to the smart high-stakes player that aren't available at all to the low stakes player. Although I write about many of the techniques I use, the best ones are too valuable to share. And if I did share, it certainly wouldn't be on a site where haters are allow to make ridiculous libelous statements all the time.