Whose System is This?

[schmoopy]

I read this somewhere on here and now I can't find the thread. I wanted to thank that person. Also I have a question. The system goes like this: Start with the initial amount you want to gamble (my case was $200). Break it into increments (I play quarters, so mine was $20 bills). Play $20 in first machine until you lose it or hit 4 of a kind or better. If you lose, move to a different machine. If you win keep playing that machine. When you cash out, put the tickets in your wallet until you have reached your initial investment and don't touch them. DO NOT cash them in until you are ready to leave and have used up all the 20s, so that you leave with your initial investment or as close as you could come. I tried it this morning and it's a great money management system! I went through over half of my 20's and finally hit a 4OAK. I played it down until I felt like the machine had gone cold, cashed out $40 and moved on. Kept doing this using my 20's and not touching the tickets. I left with $170 out of the $200, which is much better than leaving broke! Now, next time I only have to get $30 out of my bank account to play! My question is: How long do you play the machine after you've hit the 4OAK or better? I just went by instinct and cashed out at an even dollar amount. Anyway....whoever...thanks for this great idea and if you recognize yourself, please let me know who you are. Actually, there are probably more than one of you who use this system, but this person's thread was here rather recently!

I like the system for several reasons: 1) It's so much easier to keep track of money 2) I know that there is no such thing as a "cold" machine, but it really seems to help to move sometimes...even though it may be psychological. Now I know WHEN I should move (in my mind anyway) 3) If I'm having a really bad day, I could lose it all, but it seems like with this system you could potentially hit 4OAK or better at least once! 4) I love leaving with SOME money...even though I'm actually leaving a loser 5) I played for several hours using this system!

[shadowman]

The system is a method of money management. Understanding money management is a good thing even though it doesn't improve your odds of winning over time. You don't need to follow other methods exactly and is often better to find a method that works for yourself. 

[sweetc]

If I remember right the topic was "learning to walk away" and floridaPhil addressed his system.

[FloridaPhil]

That system was my thread.  I have been playing video poker as a hobby for about 8 years.  I've tried every game and system you could think of, some crazier than others.  I finally realized that my problem was that I was falling into a trap that the casinos had set for me; I was chasing the big score and not being happy with small wins.  I finally realized what was happening and came up with the money management system you are asking about.  I'm not a professional gambler or a video poker expert, but I do know that playing until you are broke is a guaranteed loser.  The biggest advantage we have against the casino is to walk away when we are losing.  

[Frank Kneeland]

I'm not a professional gambler or a video poker expert, but I do know that playing until you are broke is a guaranteed loser. Since you aren't a pro, I thought you might like to have the professional POV.To play positive expectation quarters, one should have about a $10,000-$20,000 bankroll to even consider setting foot in a casino. And of course this assumes one knows how to play correct strategy.Playing games between .5% and 1.5% in the player's favor, this should give you less than a 1% chance of being an overall loser over the course of a year's play (1,000,000-3,000,000 hands).I only play far lager edges, and have never had a losing year in the last 23.Rather than focusing on ways of minimizing your losses, why not just study and practice up and turn the casino's advantage around on them?If your answer is, "I only play for fun!" I apologize for interrupting your post thread.~FK

[Lucky Larry]

schmoopy,
I hope this attachment helps you. I made it up and share it with friends and people who want a quick pay table cheat sheet.

LL

[/IMG]

[backsider]

[QUOTE=FloridaPhil] I'm not a professional gambler or a video poker expert, but I do know that playing until you are broke is a guaranteed loser. Since you aren't a pro, I thought you might like to have the professional POV.To play positive expectation quarters, one should have about a $10,000-$20,000 bankroll to even consider setting foot in a casino. And of course this assumes one knows how to play correct strategy.Playing games between .5% and 1.5% in the player's favor, this should give you less than a 1% chance of being an overall loser over the course of a year's play (1,000,000-3,000,000 hands).I only play far lager edges, and have never had a losing year in the last 23.Rather than focusing on ways of minimizing your losses, why not just study and practice up and turn the casino's advantage around on them?If your answer is, "I only play for fun!" I apologize for interrupting your post thread.~FK[/QUOTE]
 I don't see where that makes sense even to someone who says he's a pro. If a $10k to $20k bankroll is needed, then for the player to attack video poker with it is stupid given the expected return on investment. He's do far better investing it in other more proven ways.  I've seen some people claim no losing seasons for years here and there, but my investments have never had a losing year either, and I can prove it because of actual financial recoeds from the institutions. How can we trust anyone who gambles in this way to be giving it to us straight? That's why I believe playing recreationally is the only way to go.

[Frank Kneeland]

I don't see where that makes sense even to someone who says he's a pro. If a $10k to $20k bankroll is needed, then for the player to attack video poker with it is stupid given the expected return on investment. He's do far better investing it in other more proven ways.  I've seen some people claim no losing seasons for years here and there, but my investments have never had a losing year either, and I can prove it because of actual financial recoeds from the institutions. How can we trust anyone who gambles in this way to be giving it to us straight? That's why I believe playing recreationally is the only way to go. I get that you disagree "somehow", but I'm not sure I understand your objections.I was stating bankroll requirement. I said nothing about return on investment or what a VP pro makes per year on average. You seem to be commenting on information that was absent from my post.Could you please elaborate?You also made the comment, "that he would do far better investing it in other proven ways"...implying that I was suggesting that this was the best use of his money.I was doing no such thing. There are likely far better ways to invest $20,000.I was saying, if one is determined to play VP for a living, you need at least $20,000 to make a good go of it.If anything, it was a negative comment on the dangers of playing under-bankrolled.I'm just trying to give everyone a little insight into how VP pros think and operate, because I thought some might find it interesting.I'm not trying to promote VP as a profession. If it came off that way I'm sorry.It is my assumption that there are a lot of people out there that are going to play VP whether I like it or not. I'd just like to help them win more and lose less.All this discussion of how to make $200 last in a casino, has me very worried for these people's welfare. If you care about losing $200 you should not, in my opinion, be gambling in the first place. Odds are you are just going to lose it.~FK

[backsider]

I get that you disagree "somehow", but I'm not sure I understand your objections.I was stating bankroll requirement. I said nothing about return on investment or what a VP pro makes per year on average. You seem to be commenting on information that was absent from my post.Could you please elaborate?You also made the comment, "that he would do far better investing it in other proven ways"...implying that I was suggesting that this was the best use of his money.I was doing no such thing. There are likely far better ways to invest $20,000.I was saying, if one is determined to play VP for a living, you need at least $20,000 to make a good go of it.If anything, it was a negative comment on the dangers of playing under-bankrolled.I'm just trying to give everyone a little insight into how VP pros think and operate, because I thought some might find it interesting.I'm not trying to promote VP as a profession. If it came off that way I'm sorry.It is my assumption that there are a lot of people out there that are going to play VP whether I like it or not. I'd just like to help them win more and lose less.All this discussion of how to make $200 last in a casino, has me very worried for these people's welfare. If you care about losing $200 you should not, in my opinion, be gambling in the first place. Odds are you are just going to lose it.~FK
 First off I'm not a good vp player, just avg if that. I do it for a fun break. I was commenting on what your post implied, in a good way. It kind of gives a player the idea that "all it takes" is 20 grand to win at quarters. (I really don't understand that, especially when B. Dancer said the starting point was something like 6 grand for him.) 25c players are never going to have that kind of a bankroll, and it's so out of proportion with what one would really do with that kind of money. In my mind, a player is not any kind of a professional if he uses 20 g's to make a profit gambling on a 25c game, $100 g's to make anything on a dollar game, etc. IMHO it just isn't anything smart to do with your money.  If people make money playing the 25c game that's great, but i'll bet most or all of them just play as serious recreational players, not pros, and not with a $20 g's bankroll.   

[FloridaPhil]

The odds and the comps have been cut so bad that I seriously doubt anyone is making any long term money these days playing video poker.   I'll bet Dancer makes more money on his books, software and investments than he makes sitting in front of a slot machine.  The way I see it, Video Poker is a fun activity that pays you back once in a while.  I think I'll keep my day job.