“Retirement is like a long vacation in Las Vegas. The goal is to enjoy it the fullest, but not so fully that you run out of money.” — Jonathan Clements
If you think about it, every time you visit the casino, that’s the goal. To enjoy it the fullest without depleting your bankroll, ask yourself the following questions before you go:
1) “How long am I going to stay?” Decide before you go.
2) If using bus transportation, “Do I have plans on how to spend my free time?” (Time without bankroll)
3) “If I get ahead on a slot or video poker machine, how will I establish a stop value to cash out?”
4) If it’s a longer visit that spans over a meal time, “Do I have a plan for dividing your sessions?” and “Am I taking enough money to include downtime, tips, and meals?”
5) MOST IMPORTANT – “Does my allotted bankroll equal the allotted time for my visit?” In other words, will your time expectations match the $$ you brought? (If not, be careful not to make that ATM your friend)
Keep in mind that the following are suggestions. While a suggested bankroll might give you the best run at a certain percentage of lasting, the opposite is also true. The house edge might not change in your session, but your success can get crazy bad or crazy good in a short session – after all, it is casino gambling.
SLOTS – John Grochowski says, “….as a general rule of thumb, to have a 90% chance of staying in action for three hours on the slots, your bankroll should cover 250 bets. If you’re betting 40 cents a spin on penny slots, a $100 bankroll gives you that 90% chance. If you’re betting 75 cents on quarter slots, the bankroll need rises to about $187.50, and when you bet $3 per spin on dollar slots, it’s $750.”
BLACKJACK – according to CountingEdge.com, “….always buy-in with at least 50 times the minimum bet. No exceptions. In other words, to play at a $5 minimum bet table you need to buy-in with $250. At a $10 table you need $500, and so on.
CRAPS – Its my understanding to bring to the table 7 to 10 times the amount you are betting. So a $5 table with 3-4-5x odds pass line w/ odds only ave bet $25.00 so $175 to $250.
VIDEO POKER – 150 bets to cover 400 decisions per hour (average player with perfect strategy). In other words, playing quarter VP and five coins per single line, $1.25 X 150 = $187.50 (round up to $200). Of course, the lower the pay table pay out, the more you will need. Also, higher the volatility (Triple Double Bonus Poker as compared to Jacks or Better) would me a higher bankroll.
OTHER TABLE GAMES – Casino Player writer Basil Nestor, from “Casino Player” writes “…Blackjack and other table games are best played with a minimum of 50 bets. The only exception to this rule is Let It Ride, which requires 150 bets. For table poker, it’s 100 bets.”
REMEMBER, MY FELLOW RECREATIONAL GAMBLERS, IT’S GREAT TO WIN. BUT IF YOU LOSE, ONLY LOSE THE BANKROLL YOU BRING AND THE MONEY YOU CAN SPEND FOR FUN.
Remember, “Embrace the Math, not the Myth”