My Best Recreational Money Management Strategy

[FloridaPhil]

All good thoughts.  I think it's psychologically better to training yourself to leave with some money in your pockets.  It keeps you from becoming overwhelmingly discouraged or from doing something stupid to recover your loses.  In the long run, the best strategy is the one that works for you.

[JoB Hero]

This thread was amazing and cleared up a lot of questions for the new guy. However, when you go on VP trips with your $2,000-ish bankroll how dose your strategy differ from playing at your home casino? I have recently came home from my Laughlin trip and had a blast playing VP and talking to other players all weekend... I do feel like I’m missing something. This trip was my 3rd VP exclusive trip where I have came home WAY behind. Much more then trips 4 years ago playing blackjack craps roulette for 5 days straight.. could you go more into your trip bankroll management?

[FloridaPhil]

[quote=JOB Hero]This trip was my 3rd VP exclusive trip where I have came home WAY behind.[/quote]Video Poker is a marathon, not a 100 yard dash.   The royal is a big part of your winnings.   It is common to lose for long stretches, then catch back up in a short period of time.  This is why you need a bankroll big enough to last through long downturns. There is no money management strategy that can prevent you from ever losing short term.  Believe me, I have tried it all.  Know the odds and play the best games you can find.  Buy some software and learn to play as accurately as possible.  Always play enough coins to gain the full royal bonus.   Pay attention to your casino's comp programs and take advantage of everything you can get.I assume from your handle that you play Jacks or Better.  Playing low variance games will help your bankroll to last longer.  The higher the game variance, the more frequent and deeper your bad spells.  Stick with Jacks and you will be better off in my opinion.  Avoid jumping around in denomination, taking pot shots, sneaking into the high limit room and going on tilt.  Find a denomination that you are comfortable with and stay there.  I personally believe most players would do better if they dropped down in denomination.  You need to play an average of 40,000 hands to hit a royal flush.  You don't want to run out of money or enthusiasm before you get there.

[FAA]

Your table games are much more fun. Too bad you abandoned them!

[Waiting4RF]

JoB Hero, Put your results from your Laughlin trip in your original post to keep continuity and get responses from the pros (i am not a pro). How many hands were played? Hours played? Denomination? Loss? You may have been right on the average expected loss with a return of about 97% for no royal.

[FloridaPhil]

I am not a VP expert.   According to the experts, Jacks or Better Royals are suppose to occur about every 40,000  hands.  I play single line VP exclusively.  I have gone over a year without a Royal and I have hit as many as seven in one year.  I have hit three so far this year.   There have been reports on this forum of players who have never hit one in ten years of play.  No one can predict with certainty what will happen when you play VP.   I believe your chances of doing well are good if you stick to the strategy I outlined above.  To succeed at video poker takes discipline and commitment.     I don't expect to make money at the game, some players do.   Even if you can't play positive games, it is possible to enjoy VP at a reasonable cost compared to other forms of entertainment.  That's my goal.If you are seriously interested in learning how to be a better VP player, check out BobDancer.com.  He's the man...  

[billryan]

I am not a VP expert.   According to the experts, Jacks or Better Royals are suppose to occur about every 40,000  hands.  I play single line VP exclusively.  I have gone over a year without a Royal and I have hit as many as seven in one year.  I have hit three so far this year.   There have been reports on this forum of players who have never hit one in ten years of play.  No one can predict with certainty what will happen when you play VP.   I believe your chances of doing well are good if you stick to the strategy I outlined above.  To succeed at video poker takes discipline and commitment.     I don't expect to make money at the game, some players do.   Even if you can't play positive games, it is possible to enjoy VP at a reasonable cost compared to other forms of entertainment.  That's my goal.If you are seriously interested in learning how to be a better VP player, check out BobDancer.com.  He's the man...  












Wouldn't it be ironic if phil makes money linking people to Bobs website.

[FloridaPhil]

Actually, Bob is paying me $10 a click.    

[FAA]

Crazy like a fox. I knew that he'd monetize his stance eventually. Once an entrepreneur, always an entrepreneur.

[FloridaPhil]

Since I switched to Bonus Poker quarters exclusively, money management has become a non issue.  I have yet to give up more than $100 a day.   This change has made a big difference in my attitude and my results.  I no longer feel the need to take pot shots, move up in denomination, run off to the high limit room or throw away money on high variance games.  My confidence level is high and I'm sure my play is more accurate.Eight weeks is not a long term test, but I feel I'm making real progress.     I am sure I will run into a day without quads soon or later.  So far, it hasn't happened.  One thing for sure.  I can't lose more than I take with me since "ATM" is not in my vocabulary.