My Best Recreational Money Management Strategy

[FloridaPhil]

Never considered that.  I don't mind getting $250 for a Royal.  I play a lot of one coin dollar deuces in Tampa.  I like it and it's easy to flip to 5 coins for a couple hands if things gets crazy.  I've hit a number of $1,000 quad deuces doing that, but it does break my rules once in a while.   

[JaTexas]

Ok, I just read your Strategy and love it.  However I have one question.  After #7 (cashing out after certain hits, do you stay on the same machine, change machine or what?  This seems to work unless you are having a bad day completely.  Your goals of playing what you enjoy and taking home some of your money.  Thanks for the post.

[chattycattty]

Thank you Florida Phil for good sound advice and thank you JaTexas for bumping it back up to an active topic.  We are going to New Orleans the first of next week and am going to give it a try.

[olds442jetaway]

Yep....9 and 10 are the hardest...Now if they would only pull out the ATM machines...Fat chance of that happening..lol..good advice for anyone though old or new..I also suspect that the number of vp players who have been playing more than 10 years and making a living at it just from vp play alone is ZERO..

[TomLH]

I like your money management idea. It works but I'm toying with the idea of taking a chit any time I double or more the $20 in play. Assuming $250 total the ten plays would average perhaps 5 bust and 5 profits. If profits were more than the double then I would leave the casino with their money. Statically, what do you think? Thanks

[FloridaPhil]

The problem most recreational players have is they have no clearly defined strategy for when to exit the casino.  They play until one of two things happens, either  they bust and walk out with empty pockets or they hit a jackpot big enough to walk away happy.  Mostly it's the former.  I always break my money down into small bills and keep firm cash out rules. What's important is to save your cashed out tickets and reevaluate before you go "all in" and leave broke. Over time, you can train yourself to walk out with some money instead of waiting for a big score which very rarely happens.  Professional gamblers don't talk about stop limits or they minimize the benefits because they never play unless they have an advantage and they have unlimited budgets.   As recreational players, I believe it's more important to limit our loses than engineer our wins.  Jackpots will happen and there's nothing you can do to make them appear any faster.  However, the amount you lose can be controlled. 

[billryan]

Agreed.  I wonder how many professional video poker players really win money in the long run these days not counting selling books, training or consulting with casinos. Etc.  I'm sure there was a time when this was common.  With today's odds and comps, it's got to be tough.


As very few people write books or consult, you seem to be suggesting most professional video poker players are engaging in a profession that loses them money.
I'm only been playing at two casinos for the last month but I've already identified a dozen or so people who seem to be full-time players.
I cant see people wasting hundreds of hours on chasing losing propositions.

[royal flush]

the paytables on the games are tough few 100%+ games and those at25c level some close and with comps ok but the prosjust sell books to make money

[notes1]

I believe history is full of examples of people chasing losing propositions or dreams. some spend a lifetime doing so.

estimates of restaurant failures are between 50-90%, but folks keep trying.

just because there is an actual probability of something happening or not, does not mean that it will be the result that any one person/player will experience.   

[DAAnMAAn]

My thoughts on this....
As long as people understand this is not a winning strategy but a spending and saving one, I don't have a problem with it. The odds of each spin are what they are. Each spin is an opportunity to hit a premium hand. The more spins, the more opportunity. This strategy decreases opportunity, but also decreases the likelihood of a player leaving empty handed. But if I played, say, 100 hands instead of 10,000 in a session, I would also likely leave with something in my pocket too; however, will likely not hit anything of value either. To each their own. If this method helps those who have gambling issues or want to decrease risk in expense of reward, who have hard times stopping or find themeselves broke session after session, cool. To me, the whole jest of it is: find a budget that is right for you and stick to it best you can....I for one can say it's easier said than done...with any system.