Learning When to Walk Away

[Vman96]

I tend to walk away when I'm tired of playing, or have somewhere else to be. Then I try to quit on an even dollar increment.

[rascal]

Distance from the casino is the overriding consideration for almost all VP players that I know. Those of us who live within a very short distance of multiple casinos think nothing of stopping with a very modest 5% or 10% return on that day's "investment" ---- annualized, this is a magnificent return. But for those who have to drive a long way, I can certainly understand how difficult it would be to pack it in after 15 minutes on the machine.

[onemoretry]

I tend to walk away when I'm tired of playing, or have somewhere else to be. Then I try to quit on an even dollar increment.
That's my philosophy, as well.

[alpax]

The Native American tribal casinos are located quite a distance away from the metropolitan areas in most states (most voters will keep it that way in fear that crime rates will go up to Vegas levels if it were to be nearby). The travel time and costs do force players to play longer to justify the costs.

I might include that I play a finite number of hands on every trip by monitoring the casino club points gauge. This is so that I can expect a consistent mailer/bounceback offer from the casino.

Abiding the stop limit early if you hit a jackpot hand near the start may affect the next offer if the coin-in, time spent, and actual results are taken into account. Each hand outcome is an independent event, so stopping early on the day could even stop you from winning more as well. If the management system were to prevent you from losing what you've won, it will not prevent you from losing that on the next casino trip.

[FloridaPhil]

[quote=alpax]If the management system were to prevent you from losing what you've
won, it will not prevent you from losing that on the next casino trip.[/quote]There is truth in this statement.  However, over the years I have learned that is it better for me to manage my cash flow on a daily basis rather than consider forever as my playing time.  When I walk into a casino, I expect to leave with at least 50% of my money.  I normally play for a minimum of 6 hours a day on a pretty small bankroll.  The Cheap Strategy lets me extend my play well beyond what is possible if I played all my hands at max coins which gives me more chances at a max coin jackpot.For example, at this time I am playing the Cheap Strategy at the .50 level and cashing out all wins over $50.  I went to the Tampa Hard Rock yesterday and had a terrible day with no quad deuces.  I did hit one lucky pot shot and was able to cash out three tickets for $250 which met my goal. If I had hit even one short coin quad deuce for $100 I would have broke even.  A max coin quad deuce or royal would have easily doubled my money allowing me to add it to my overall bankroll.   I leave the casino when all my money is in white tickets and I don't play any of them under the amount I came in with.  For most players, traditional max coin betting strategy is a guaranteed loser.  It's your money and you decide how much it is going to cost you to enjoy this game. 

[alpax]

The gambling experts say to only play with the expendable money you can afford to lose. To most people, they gain the perception of the fact they can lose a few hundred dollars, so most times they play until that money is lost unless they get really lucky.

I just take it one step further, I just calculate the coin in amount for a certain amount of theoretical loss of a game without the royal flush payout. I figure out the number of hands I can play, while saving up the bankroll for at 20% risk of ruin. So the bankroll should be bigger than what I can theoretically lose.

I manage bankroll in that way so that I can maintain consistent offers from the casino, that is all. Again no management system is invulnerable to nasty losing streaks.

[OTABILL]

The Native American tribal casinos are located quite a distance away from the metropolitan areas in most states

Arizona is obviously an exception. The reason is reservations are contiguous with or close to the city limits of Phoenix and major suburbs like Scottsdale. They are also close to Tucson. In other states this is not the case. Otherwise the casinos would be close to major metropolitan areas as well.

[notes1]

[QUOTE=alpax] The Native American tribal casinos are located quite a distance away from the metropolitan areas in most states

Arizona is obviously an exception. The reason is reservations are contiguous with or close to the city limits of Phoenix and major suburbs like Scottsdale. They are also close to Tucson. In other states this is not the case. Otherwise the casinos would be close to major metropolitan areas as well.[/QUOTE]
 the western new york area has 3 indian casinos located within and close to city population areas. also, tampa, with a very large population, has a major casino located close by.

[FloridaPhil]

Currently all of the major casinos in Florida are owned by the native tribes.  Frankly, I think they are doing a great job.  The State legislature did not renew their 5 year exclusive agreement, so the whole question of casino gambling is now open in Florida.  Three new counties have approved gambling and that needs to be addressed as well.  My hope is we will not over saturate this market, but we could use more facilities in the north end of the state.  Nothing is going the happen in the center of Florida because it is controlled by people who think casino gambling is a sin.  It's sad because lottery tickets sales take in a huge amount of revenue and you can easily spend your paycheck that way if you are so inclined.  Casino gambling is a tax on the well to do and I'm OK with that. 

[FAA]

over the years I have learned that is it better for me to manage my cash
flow on a daily basis rather than consider forever as my playing time. 
When I walk into a casino, I expect to leave with at least 50% of my
money.  I normally play for a minimum of 6 hours a day on a pretty small
bankroll.  The Cheap Strategy lets me extend my play well beyond what
is possible if I played all my hands at max coins which gives me more
chances at a max coin jackpot.For example, at this time I am
playing the Cheap Strategy at the .50 level and cashing out all wins
over $50.  I went to the Tampa Hard Rock yesterday and had a terrible
day with no quad deuces.  I did hit one lucky pot shot and was able to
cash out three tickets for $250 which met my goal. If I had hit even one
short coin quad deuce for $100 I would have broke even.  A max coin
quad deuce or royal would have easily doubled my money allowing me to
add it to my overall bankroll.   I leave the casino when all my money is
in white tickets and I don't play any of them under the amount I came
in with. For most players, traditional max coin betting strategy is a guaranteed loser. Great post as usual. Six hrs is stunning. And you stick to your denomination w very rare exception. I still have the tendency to burst into dollar machine territory when I'm a quarter player. I just realized that my decision is because my secondary casino is all 8/5 quarter JOB, so I find myself sinking in deep waters for the 9/6 pay table. Solution: dump secondary casino! Why acquiesce to my own demise? I do min coin dollar, but those are so ice cold that I usually come a cropper. I've already put away that player card for good, and I should probably cut it up for delightful closure!