Rule of Thumb Advice

[FAA]

Never bet more than 2% of your bankroll in skill based games. Maxim that I ran across. Thoughts? I think it’s a great overall framing idea.

[advantage playe]

sounds a bit like the Kelly criterion .eg. if u have a 2% advantage, bet no more than 2% of your bankroll .keeps your ROR minimum. ROR is risk of ruin .

[onemoretry]

How do you define "bankroll"? Bankroll for the day, for a trip, lifetime?

[BobDancer]

As AP summarizes, the Kelly criterion says bet 2% of your bankroll if you have a 2% advantage.
Bet 1% of your bankroll if you have a 1% advantage.

Bet 0% of your bankroll if you have no advantage. This is a key part of this rule and is routinely ignored by many people on this site.

This is the rule for optimal bankroll growth.

FAA gave us the 2% rule with no reference at all to how large of an advantage he calculates. Which makes this rule utterly useless.

Most of the games FAA talks about playing are ones where he has a disadvantage. Betting 2% in such a situation is extremely detrimental to his bankroll.

[Eduardo]

Most of the games FAA talks about playing are ones where he has a disadvantage. Betting 2% in such a situation is extremely detrimental to his bankroll.

Unless he was originally planning on betting 5%. He may be looking to play a certain amount of time on his budget, in which case, betting smaller is a good thing. Of course, this doesn't impact the fact that it is a negative game, so "advantage play" rules pretty much go out the window and one should expect to lose in the long run in that situation. But if someone doesn't care about that and they have set aside $200 a week to play for entertainment, then betting small could be the right prescription to extend their play.

But as you said, the 2% rule isn't a meaningful measure at that point unless that just happens to be the right amount to get the amount of play you are looking for.

[advantage playe]

thanks Bob Dancer !

[FAA]

Thanks all. Not much meat on the bone of my passage. But, being in AC, 0% would be optimal. Unfortunately, I love the entertainment. 2% must be my max to get the day nicely extended.

[Player422738]

Thanks all. Not much meat on the bone of my passage. But, being in AC, 0% would be optimal. Unfortunately, I love the entertainment. 2% must be my max to get the day nicely extended.

Not really. The 8/5 BP progressive in AC could be positive if meters are high enough and I hit something nice recently.

All hands Royal jackpot starts from $4000 and recently someone hit at $11k I think. Royal on top game (A) starts from $1200, and other two (B and C) are from $1000. I saw the bottom royal went up to $1500 last time.

[Eduardo]

Clearly that machine was in a Hot Cycle. You can tell when it has a giant glowing smiley face on it. Most players don't know to look for this.

[Carcounter]

Thanks all. Not much meat on the bone of my passage. But, being in AC, 0% would be optimal. Unfortunately, I love the entertainment. 2% must be my max to get the day nicely extended.

Not really. The 8/5 BP progressive in AC could be positive if meters are high enough and I hit something nice recently.

All hands Royal jackpot starts from $4000 and recently someone hit at $11k I think. Royal on top game (A) starts from $1200, and other two (B and C) are from $1000. I saw the bottom royal went up to $1500 last time.

Haven't been to Bally's in a long time. Thought the middle line reset at $1,100?