Losing Streaks

[pokeherguy]

The time may have come for me to call it quits. After playing for VP for years with virtually the same results year in year out I am currently going thru the mother of all losing streaks. I love to play $2.00 VP at max and my game of choice is Triple Bonus. Anyone who plays reguarly knows about wins and losses and I myself have been thru my share of bad trips but currently I can do no right. There has been only two trips since January 1 that I could have left to the good but ended up on the losing end, all the other trips have been washouts. I've got a couple of friends that are going thru the same thing also. I had a nice bankroll for gambling only and its had its ups and downs it can go way up and down thruout the year but by years end I am either a little ahead or a little down. my W2G's thru the years have stayed pretty steady with the highest amount coming in 06, double the amount of any previous year because I made more trips and was playing the $2 VP at max which generated many $2,400 and $1,200 jackpots and even with the high amount of wins I came out slightly ahead. I have argued the point with many folks that I know better than to be playing to win I do it because I enjoy it, coming out ahead is just a bonus. Like I said I am now having a bad losing streak and with the gambling habits and style of play I have become accustomed to things are going to have to change quickly or I'm toast as far as VP goes. Its not like I'm picking the wrong machines and others are winning its just everytime I go lately is the wrong time to be there because nobodys hitting any jackpots.

[macaroo]

 It sounds like you hit the "moment of truth" in your VP gambling life.
 Everybody hits and extended losing streak soon or latter.  You got to ask your self if you can continue to afford the losses.  If not, you can either quit the game or ratchet down to a lower credit level; 1$ or less to ease the pain of the loss.
 The trouble of playing at your current level is those pestky W9G you have to fill out and pay if you do get lucky and hit a jackpot.  Uncle Sam always wants his cut of the profits.
 I can't or do not play at this level so I don't have to face this dillemma. And I play on a daily basis. 

[shadowman]

The time may have come for me to call it quits. After playing for VP for years with virtually the same results year in year out I am currently going thru the mother of all losing streaks.  
 
It will happen to any gambler who plays often. I am currently in my 3rd very bad losing streak (over the last 10 years) so I understand what you're going through. That is the reason why we need to understand bankroll concepts if we want our bankrolls to last.
 
I love to play $2.00 VP at max and my game of choice is Triple Bonus.  
 
A game that requires a very large bankroll compared to less volatile games.
 
I had a nice bankroll for gambling only and its had its ups and downs it can go way up and down thruout the year but by years end I am either a little ahead or a little down.  
 
Nice and sufficient are different. You might want to investigate some of the bankroll websites or software.
 
Its not like I'm picking the wrong machines and others are winning its just everytime I go lately is the wrong time to be there because nobodys hitting any jackpots.
 
What others are doing on machines in your vicinity have no effect on your results. The ONLY good machine is a positive machine. Otherwise you WILL eventually lose if you keep gambling. I'm not aware of any positive Triple Bonus machines unless you figure in casheck, etc. (TB+ is 99.8%)
 
Instead of quitting it may be a good time to consider changing your methods. Maybe there aren't any positive machines where you play. In that case I would suggest cutting way back on the denomination. I know, it's tough once you've experienced a few $8K RFs to cut back, however, consider the alternative ... 

[BOOPSAHOY]

pokerguy I feel your pain. My husband and I had one really good trip-up $3000-but since then we havent had a decent trip in a long time. I dont mind losing my initial investment since we eat sleep and drink for free but I want some play for my money! We play 3 line Super Times Pay at the .25 level-(occasionally DW at 5 lines) and since we have found this game we cant go back to the single line games, they just arent as exciting, so I understand how after the excitement of wins at the $2 game level its hard for you to lower your betting level.We keep saying that we have to put off our next trip but that gambling devil keeps saying "it will turn around!" LOL Good luck on your next trip!

[pokeherguy]

I really like this site because it allows you to be honest with people who understand and at the same time pick up some good advice. My nice bankroll came from money I had been saving to buy a corvette since I was very young. I gave up on ever getting enough to buy the vette I wanted and I've played on that money years. I like many others did start playing small .25 Vp and graduated up to the dollars but have been able to avoid the $5.00 machines unless I was having a good night and then it was just a quick few plays and out the door. I knew a guy that got hooked on the $5.00 VP and lost his butt and his wife. I play hard but at the same time I play for fun, being married and having three kids keeps my priorities straight. I'm sure it will turn around but playing .25 VP is not an option for me there is just no thrill in it for me. Someone earlier said something about hitting a royal flush for $8K which has never happened for me but I kept thinking sooner or later it would. The last royal I hit was on a bad night when I had dropped down my bet and hit for $4K. I have hit bunches of aces for $2,400 though. I have considered only taking $500 to gamble with but the problem with that is its such a long drive for me I hate to lose fast and leave soon. I'm not broke yet I just feel like a boxer who took a good punch and am trying to beat the ten count. Maybe I'll get back up and start to land a few punches, after all I can't miss everytime. Can I? Thanks for the support and good luck to yall.

[shadowman]

Maybe I'll get back up and start to land a few punches, after all I can't miss everytime. Can I?
 
To be honest, you can miss every time. There is nothing statistically that says you can't. It's only VERY unlikely.
 
Take my own losing streak that I mentioned. I play a lot of VP and a lot of triple play and five play. I play mostly .25 demon. I have played over 350K hands since Christmas (a lifetime for many people).  In that time I have had only two RFs (statistically I should have between 9-10) and lost around $12K. I play ONLY positive games. Fortunately, my wife has been fairly lucky during my streak to even out the results.
 
Now multiply my losses by 8 to get a feeling for the downside of playing $2 VP. Can you withstand a $100K losing streak?
 
By the way, I'm simply trying to point out the value of understanding bankroll needs. This is something that anyone who plays VP or is thinking about it should investigate as part of their approach to gambling for profit or entertainment. You might want to check out:
 
http://wizardofodds.com/videopoker/anal ... yProg.html
 

[shadowman]

Note that the risk of ruin for any negative game is 100%. You will eventually lose ALL of your bankroll. That can be considered the cost of entertainment, which is fine if you are prepared for the loss.

[JHock12]

I'm with you pokeherguy.  Although not on the scale that you described, I am on a killer losing streak myself.  It's been a while since I've been to AC because of lack of funds due to a temporary loss of employment, but I started a new job last week that looks very promising and I hope within a month or so I can go back and play some VP.  When I started gambling about 25 years ago, mostly at the racetrack,  someone told me never gamble if you need the money.  Did I listen? Of course not.  I actually went to the casino thinking if I hit something good it would help my situation.  Wow was that dumb.  All the things we discuss on this site are fun and games, and usually I gamble responsibly, like most of my friends here, but I lost my head a bit and luckily it didn't do any major damage to my credit or ability to pay bills.  They say bet with your head not over it-WORDS TO LIVE BY!  P.S. Trying a smaller denomination only worsens your odds-I know from experience.

[MikeA]

They say bet with your head not over it-WORDS TO LIVE BY!  P.S. Trying a smaller denomination only worsens your odds-I know from experience.
 
Would you mind amplifying on that last statement a bit?  Mathematically, I do not think that is a necessarily valid statement (all depends on the pay tables).  However, you might be talking about your chances for recovering from a loss at higher denominations and the potential for making it up at a lower denomination.  Just curious as to what you meant.

[shadowman]

Trying a smaller denomination only worsens your odds-I know from experience.
 
This may be your personal experience but is now outdated when it comes to Nevada VP. While you can always find lower paying machines at lower denoms (or any denom), the advent of more knowledgeable gamblers has led casinos to put the best paying tables on sub-dollar machines.