Cashing out during a hot streak. What do you do?

[FloridaPhil]

This "what to do with a hand pay question" is tricky.  I've had days when I was so lucky even the slots were paying off and days where aces with a kicker was the only quad I got all day.  If I'm only away for a day, I will most likely stash half of it away and swing for the fences with the rest.   This rarely works, but it sure is fun while it lasts.  If it's at the beginning of an extended trip, I'll keep playing as before and hope the hand pay breaks me even over the long run.  Good question...

[JIMDUECE`SWILD]

 If I get a hand pay and a W2G. I cash out the balance on the machine and take it to the room and put it in the room safe. Then take some to play the rest of the day.

[Chicagoan]

My system actually evolved directly from some advice I read on this forum several years ago. It works for me.

Hand pays of $2000 or less I continue to use as playing bankroll and continue to play. Hand pays of $2001 or more I take 70% to 80% in a check and play the rest.

I absolutely, positively WILL NOT cash a check from the casino at the casino. I have actually seen other "winners" do that, and the degrading look, almost a sneer, from the casino personnel is as close as it gets to calling someone a "loser."

There is nothing better, no greater feeling, than to drive away from the casino with a check safely in your pocket, ready for deposit.

I just returned from a brief mini-vacation at the coast. I was only there 4 days, and on 2 of those days I played VP. Over the 2 days I had gross hand pays of $16,500. Some of these were $2000 or less and they went back into my playing bankroll. After tax withholdings and tips, my "walkout" money, in checks and a few odd dollars, was slightly over $8600. It represented a decent profit margin from the original "investment".

But --- had I not taken checks for the larger jackpots I could very well have walked out with nothing.

So --- the secret, which I credit to another member of this forum, is not WHEN you quit --- rather it is how much of what you win becomes non-negotiable "walkout" money WHEN you win it!

Knowing what's bankroll money to play and what is IMMEDIATELY safeguarded via a check has proven for me to be the overwhelmingly best way to leave the casino with that winning feeling.

[FloridaPhil]

My goal on each and every trip is to come home with at least as much as I left with.  This means I often leave or stop playing before I am totally busted.   I don't always make my goal, but it has served me well over the years.  In my case hand pays are rare, so I take the opportunity to use some of it to do things I don't normally do like playing DDB or slots.   Even then, I try to stick to my goal. 

[olds442jetaway]

I try and follow these rules, but cannot always do it. The highest cd I ever got was 18.25% interest and that was for an entire year. With vp, if I make 20% of bankroll or more, I should quit. I find it very rare to be able to double your money you brought with you to play with. I have also tried fifty percent return for the session and find that too steep most times too. Most times at some point in the session, I am ahead at least 20 percent. I also like to take breaks, change the game and play another half hour on the way out. That half hour or so has bailed me out on so many occasions including my last trip where I hit two Royals on a five line game. Not for 2k, but this was the 800 for one quarter all star machine so it paid 200 for each Royal. I was thrilled with that.

[markinca]

I can only think of 3 reasons I ever cash out:

- I'm tired/sleepy and I'm making mistakes
- I'm hungry
- I need to go to the bathroom

I don't think I've ever left a machine solely because I was losing/winning a lot.

[Onenickelmiracl]

Do whatever feels best for your life situation.

[Lionqueen]

'When' I am in control I take the big win to the room and come back with my normal session amount. This has always worked - every single time - because I don't want to keep going up for more money. Unfortunately I'm not always in control and therefore lose most back. If I have a large amount of cash in my purse I want to play everything in the casino. (We call it our casino brain). If I'm playing locally I have no method but just keep playing until it's time to leave and hope that's soon after the win.

I've had some incredibly big wins this year and have found that depositing them in the bank works better than having it around the house and grabbing a handful of cash for the next visit. Instead I take what I normally do & leave ATM cards & checks at home. Having a large stash is dangerous for me and it seems to make a psychological difference when it's my bank account.

[FloridaPhil]

[quote=markica]I can only think of 3 reasons I ever cash out:

- I'm tired/sleepy and I'm making mistakes
- I'm hungry
- I need to go to the bathroom

I don't think I've ever left a machine solely because I was losing/winning a lot.[/quote]I don't believe stopping play has any affect on long term results. However, I think there are many physical as well as psychological reasons to do so.  Playing tired or impaired is obvious.  When I'm behind more than I'm comfortable with, I don't make good decisions.   I tend to take chances that I know are not the best and it definitely affects my attitude.  I am a much better player when I'm fresh and feeling good about the day rather than hating myself for going to the casino in the first place.  I don't think I'm alone in this.  People are not computers and I think everyone makes bad decisions on occasion whether they will admit it or not.  Walking out is my way of preventing self inflicted damage. 

[FAA]

"Life situation" concerns evaporate with willpower in casinos for many of us. I will experiment with the Drink and Tink technique to at least take a biologically induced break.