Well, for those of you that follow my escapades.... (Full Version)

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Griswold -> Well, for those of you that follow my escapades.... (5/20/2007 2:07:59 AM)

I started out with $2,500.00...I was up $7,000.00...it lasted for 4 hours...but now I have a free breakfast chit (and no money).

(Can't win 'em all).

An ex of mine once told me "When you have a desire to piss away money at the tables....just send it to me...you still lose...and I'm (in this case...$2,500.00) richer".

(But seeing she's an ex and all....)



NeedToUseYou -> RE: Well, for those of you that follow my escapades.... (5/20/2007 3:51:22 AM)

If you like gambling, you should just take that money and day trade it. I made four trades last week and am up about 8% on the week. The stock market is like gambling only you can tilt the odds in your favor if you do a little research. I only day trade about 10-20 thousand though, it makes me nervous doing anymore than that, though. 



Termyn8or -> RE: Well, for those of you that follow my escapades.... (5/20/2007 8:25:45 AM)

Need...;

It is good you see the market as a gamble, that is exactly what it is, but it is also like going to a poker game where most of you have $50, but a couple people have $1,000,000 and can buy the pot.

Gris;

Too bad you never met my friend Jim. He taught me how tro gamble, and I mean to the point where it is no longer fun. Yes it is satisfying to win, but it is like work to me.

Hint : if you walk in with $2,500 and get up to $7,000, GET OUT. Get out before you drop to five grand. This was one of the most important lessons I learned from Jim.

See he had a poker machine, the illegal kind. People would play it. More than once he had to go and get someone a thousand dollars because they hit the royal. I was there once. I said "Doesn't that hurt you ?", he replied "No, she is going to drop all of it back into the machine anyway".

So the ad hoc statement de jure is this : If you play until you are out of money you always lose.

And that is a fact. And an oxymoron. You see I used to enjoy gambling, but if you allow yourself to enjoy it, you are less likely to win. To win you cut out all the bullshit and get down to math. Takes all the fun out of it, but if you stake me in the right game, you are likely to make money.

The old saying 'quit while you're ahead' applies 100% here.

So how did you parlay it up to seven grand ? Poker machines, slots, blackjack, poker ? Just wondering.

BTW folks, if you ever play a poker machine and get a fourflusher, which is four of the same suit before the draw, go for the flush even if you have to throw out a pair to do it. The reason is math. It overpays. (in their eyes)

Real quick, I'll lay the math on you. If you have four of one suit, to get the flush your odds are 9 in 47. If you keep a pair and draw three, each of your three draws has a 2 in 47 chance of coming in. Taking it ultra-simplistically and simply multiplying the number, we come up with 6 in 47, although it is not quite that good.

On the other hand there is a possibility of four of a kind, but 47 is a very big number then.

Also when you keep a pair you will not get a flush or a straight, and of course not a straight flush by extention. You never draw to an inside straight, but you do to an inside straight flush, because your odds are 9 in 47 to at least get a flush.

Now look at what each pays, take a good look at what a simple flush pays versus three of a kind. That answers the question of what is the smart bet. Hands down.

T



Sinergy -> RE: Well, for those of you that follow my escapades.... (5/20/2007 1:16:49 PM)

 
I have not gambled much, but what I did the few times I went was to decide how much money I planned to lose.

I would gamble.  When or if I won my initial money back, I put it in my wallet.  If I lost my budget I would stand up and leave.  If not, I would continue gambling.  If I kept winning, I would continue putting money in my wallet.  When I hit a point where I would need to pull out my wallet, I thanked everybody at the table for the lovely game and went and had a beer.

Sinergy



Emperor1956 -> RE: Well, for those of you that follow my escapades.... (5/20/2007 1:36:49 PM)

I only play one game seriously, and that's poker.  I'll play any type of poker, but Hold 'Em is the current king of games, so that's what I play.  Also, with the huge rise in poker, that's where the fishies all swim, and you don't make money if you don't clean the fish.  If I'm playing for fun, or in a tourney, its No Limit, but if I'm earning a stake, I'll play a 50-100 game and grind it out. 

And I'm good.  I'll usually make 20 - 50 % on my dough in a session.  So why don't I quit my job and move to Vegas and play?  Simple. I'm a good player, but not a great player.   I'll take a $1000 stake, play for 4 hours, and walk away with 1300.  I'll do that or better 8/10 times I sit down at the tables.  That $75/hour gain is fine, but it takes enough work that I'd rather do something else most of the time.  If the day is bad, I might walk away with $750 (if I'm down more than 25%, I fold up and get out of whatever I'm in) and if I get hot...I've run that 1000 up to 8000 in a session (have to switch to a higher limit table to do that), which will carry both my wallet and my ego for a few months more.

If I'm playing for fun, I'll play the carnival games or slots.  Sinergy, your "system" is exactly how I play slots.   I'll put in $50, and play away.  If I get any big score, I'll cash it out, take the ticket (Yah, I miss the clatter of the coins, but they were dirty and inconvenient and messy) stash the ticket in my pocket, and if I "feel" the machine is good, I'll put in a new 50, and play...if I run it down, I'm done.  If I score again...more tickets.  End of the night, I'll cash out a pocket full of tickets, and see how I've done.

2 things:   I know gambling.  I understand the nuances, the psychology, and I'm no pigeon...right?  But didya notice I said above "if I 'feel' the machine..."?  Yep, I'm not immune.  That's what I love about it.  Even KNOWING its a losing proposition, I'll bet...and sometimes I'll win.  What  a rush.

And you know what they call people with a system?   Losers.   *GRIN*

E.



gypsygrl -> RE: Well, for those of you that follow my escapades.... (5/20/2007 2:12:01 PM)

I don't gamble with money because I never risk anything I can't afford to lose.  But, I knew a gambler once, and he explained to me his betting rule.  I apply it to everything.  Its so different from what I thought a gambler's logic involved because I always thought it was about predicting the future (card, roll of the di, roulette wheel spin thingy whatever).  But, the way he explained it, its not like that at all...every "next bet" is based on what happened the last time.

So, every time you win a round of whatever, double your next bet.  Keep doing that until you lose.  When you lose, cut your next bet in half and keep cutting it in half so long as you're losing.  If you win, double your next bet.  If you lose, halve your next bet.  Never ever deviate from that rule.

Just be warned, you can get into some sorry shit playing that way.  But, it works for me.

Edited to add:  You're not doubling your next bets when you win, you're increasing it by half.  I think.  lol






Sinergy -> RE: Well, for those of you that follow my escapades.... (5/20/2007 5:57:31 PM)

quote:

ORIGINAL: Emperor1956

2 things:   I know gambling.  I understand the nuances, the psychology, and I'm no pigeon...right?  But didya notice I said above "if I 'feel' the machine..."?  Yep, I'm not immune.  That's what I love about it.  Even KNOWING its a losing proposition, I'll bet...and sometimes I'll win.  What  a rush.



Larry Flynt once responded to an interviewer about his love of gambling and his reply stuck with me.

"Betting a million dollars on a hand of cards is a bigger rush than sex."

Most of us cannot afford to bet a million dollars, but he can.

Sinergy



Griswold -> RE: Well, for those of you that follow my escapades.... (5/20/2007 9:19:14 PM)

quote:

ORIGINAL: Termyn8or

Need...;

It is good you see the market as a gamble, that is exactly what it is, but it is also like going to a poker game where most of you have $50, but a couple people have $1,000,000 and can buy the pot.

Gris;

Too bad you never met my friend Jim. He taught me how tro gamble, and I mean to the point where it is no longer fun. Yes it is satisfying to win, but it is like work to me.

Hint : if you walk in with $2,500 and get up to $7,000, GET OUT. Get out before you drop to five grand. This was one of the most important lessons I learned from Jim.

See he had a poker machine, the illegal kind. People would play it. More than once he had to go and get someone a thousand dollars because they hit the royal. I was there once. I said "Doesn't that hurt you ?", he replied "No, she is going to drop all of it back into the machine anyway".

So the ad hoc statement de jure is this : If you play until you are out of money you always lose.

And that is a fact. And an oxymoron. You see I used to enjoy gambling, but if you allow yourself to enjoy it, you are less likely to win. To win you cut out all the bullshit and get down to math. Takes all the fun out of it, but if you stake me in the right game, you are likely to make money.

The old saying 'quit while you're ahead' applies 100% here.

So how did you parlay it up to seven grand ? Poker machines, slots, blackjack, poker ? Just wondering.

BTW folks, if you ever play a poker machine and get a fourflusher, which is four of the same suit before the draw, go for the flush even if you have to throw out a pair to do it. The reason is math. It overpays. (in their eyes)

Real quick, I'll lay the math on you. If you have four of one suit, to get the flush your odds are 9 in 47. If you keep a pair and draw three, each of your three draws has a 2 in 47 chance of coming in. Taking it ultra-simplistically and simply multiplying the number, we come up with 6 in 47, although it is not quite that good.

On the other hand there is a possibility of four of a kind, but 47 is a very big number then.

Also when you keep a pair you will not get a flush or a straight, and of course not a straight flush by extention. You never draw to an inside straight, but you do to an inside straight flush, because your odds are 9 in 47 to at least get a flush.

Now look at what each pays, take a good look at what a simple flush pays versus three of a kind. That answers the question of what is the smart bet. Hands down.

T


Excellent advice (and highly accurate).  I always figure it this way;  when you land in Vegas...whatever money you have in your pocket already belongs to the casino....it's just a time equation :)

(Blackjack).



Griswold -> RE: Well, for those of you that follow my escapades.... (5/23/2007 3:08:09 AM)

(It has become quite clear to me that my skill sets do not involve gambling).

(Even with all your rather sage advice).



StellaByStarlite -> RE: Well, for those of you that follow my escapades.... (5/23/2007 3:21:47 AM)

I never really understood the appeal of gambling at all, lol. The last time I played slot machines, I lost $20 and felt like crap! Money completely down the drain, man.

Well, okay.. bingo can be entertaining, in a campy way, lol.



Sinergy -> RE: Well, for those of you that follow my escapades.... (5/23/2007 2:12:27 PM)

quote:

ORIGINAL: StellaByStarlite

I never really understood the appeal of gambling at all, lol. The last time I played slot machines, I lost $20 and felt like crap! Money completely down the drain, man.

Well, okay.. bingo can be entertaining, in a campy way, lol.


You forget the fundamental concept of casino psychology.  They give free booze to people gambling.  This lowers inhibitions and tends to make gamblers more willing to bet big.

I went gambling one time and got $20 in nickels.

I played nickel slots with my $20 bankroll for 6 hours.  I drank $75 worth of free whiskey.  I got poured home with $4.65 cents of my initial stake.

Win / Who Cares situation for me.

Sinergy



selfbnd411 -> RE: Well, for those of you that follow my escapades.... (5/23/2007 2:57:26 PM)

quote:



I played nickel slots with my $20 bankroll for 6 hours.  I drank $75 worth of free whiskey.  I got poured home with $4.65 cents of my initial stake.



Not to burst your bubble, but they don't serve the good stuff to the people playing nickle slots! [;)]



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