Your Casino Bankroll Requires Planning – Questions and Answers

$100 Funny Toilet Paper

 

Your Casino bankroll requires planning. How much money to bring to the casino depends three questions:

  • what games will you be playing?
  • what denomination will you be playing at?
  • how long do you expect to stay?

I am often asked, “How much money should I bring to the casino?”  In other words, what should your bankroll be? Think of it this way – “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, but not so fully that you deplete your bankroll.

Consider these before your next visit 

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)

Related Post – Your Bankroll is $250 – What New England Casino Would You Visit?

Bankroll Suggestions

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. Remember, your casino bankroll requires planning.

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.”

Ticket In, Ticket Out! TITO

Ticket In, Ticket Out! TITO

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 betting $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.

Related Post – Playing Video Poker is More Than Video Poker Pay Tables

They Represent Real money! Treat these chips as real money.

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.

That’s all for now.

Binbin

Your Bankroll is $250 – What New England Casino Would You Visit?

“If you had a limited budget/bankroll of say $250 to gamble with which New England casino would you choose and what games would you play and why.”
BankrollSomeone asked me this interesting question a few months ago and I keep revisiting it in my mind. But I couldn’t take that question for face value….. oh, noooooh……I needed more info, some criteria to base my opinion on.
So, I came up with two different players, both variations of myself: 
  1. Player 1 (we’ll call him Rob) is inexperienced, has no particular affiliation to any New England Casino, but has a players card from them all.
  2. Player 2 (we’ll call him Bin) favors a few, has been playing for years and also has played at the all with a players card from them all, but favors two.
  3. Both players, amazingly, know how to play table games, video poker and likes playing slots in the same way.  Favorite table games include Pai Gow Poker, Craps & Blackjack in that order.
Seeing both players are me in this fantasy, a few personal notes are needed. I like to play long periods of time, as well as short daily bursts ( which is not good for my Average  Daily Theoretical ).  Games that provide solace individually are preferred, but on some occasions I prefer the camaraderie of the tables.  In this instance, my goal is to play as long as possible on a bankroll of $250 and consider myself a low to mid-roller. One last part of the criteria is important in the comparison – I own a worm hole to transport me to any of the eight casinos instantly.
So let’s begin.

Rob (Player 1)

In my alter-ego #1 Rob, I don’t favor one New England Casino over another and consider each to have it’s advantages and disadvantages. But where to play…….hmmmmmm…..
With no affiliation to any casino, even casino Rewards Clubs outside of New England, playing for comps is secondary to playing long and winning big, and food options are also a priority. So I would play at:
#2 – MGM Springfield – Depending what you play, this property can be  a lot of fun. The slots are new and plentiful.  The newest slots are all around you.  But first I would go to the craps table.  Midweek, you can find $10 craps tables, not the best for a $250 bankroll, but playable. The MGM craps tables include the “All Tall, All Small” bonus which is not offered anywhere else in New England. Plan B would be slots, slots, slots.  I would only play video poker at the bar since the paytables are terrible and no blackjack – $10, $15 tables are 6/5 on a blackjack.  $25 tables have 3/2 blackjack, but that’s too high for a bankroll of $250. But the ambiance, the non-smoking, and its few dining options are really good.
#1 (preferred) – Foxwoods. “The Wonder of It All” – I would either go directly to the Asian Gaming area in the Rainmaker Casino and play $15 Pai Gow Poker, or play some $5 craps in the Cedars Casino ( beware, odds bets now have a 5X limit instead of 10X) . If that didn’t work out, two possible plans with what was left – play bar top machines with Double Super Times Pay with decent pay tables at $.05 for Triple-Play & Five-play in either the Cedars Casino or the Racebook, both with a good bar with great service.  Or, I would play slots in the Cedars Casino which has some of the best and newest machines, with old favorites like Cashman scattered around.  Cedars Casino also has stadium gaming.  Of course the dining options at Foxwoods are immense.

Bin (Player 2)

Only one choice for Bin – Mohegan Sun.  Why?
A. Best gambling odds.
Full-Pay JOB Video Poker, with 9/6 Double Double Bonus available also.
$15 Pai Gow Poker tables
$5 Craps tables
The largest assortment of slots in the East Coast.
B.Amenities
Best New England Player lounges.
Great Spa
Point Promotions – 2X (Momentum & Status), 3X (Status), Status Mayhem of 2X-5X
Leap Level Parking (that’s my tier lever – 3rd out of 5)
Entertainment options and offers.
C.Dining options – especially best at the low to mid dining cost.
D. Mohegan Sun Players Rewards – while I don’t consider an easy Rewards Club to work with, Mohegan Sun is close to me, and so we invest our dollars in Momentum.  It does include other casinos Mohegan Sun Poconos & Resorts in Atlantic City.
E.The Property – Mohegan Sun’s three casinos, design, tribal decor and spaciousness is comfy – that’s the only way to describe it, besides beautiful, unique, and awesome.
So, those are the New England Casinos that Bin & Rob would be the happiest with a bankroll of  a $250.  It might be different if the bankrolls were $100 or $1000.  But, that’s for another post.
Remember, “when Gambling, Embrace the Math, Not the Myths.”
Binbin, Bin, & Rob

Casino Industry Marketing Strategies – Meant to Entice ALL Generations

mohegan-sun-pocono-downs-slots-by-apjpg-db6c01b11ac1b950

TAKE THE POWER AWAY FROM THE CASINO            – BE AN INFORMED, KNOWLEDGEABLE & AWARE GAMBLER!

Are you a member of AARP?  I am.  I also receive the AARP Bulletin. Now, I understand the reading demographic is 50+ and education is important for AARP’s readers, but, this article doesn’t tell the whole story and makes us Baby Boomers out to be helpless – DO YOU WANT TO BE CONSIDERED HELPLESS?

aarpThis month, AARP included an article called “The Casino Trap.”  It’s theme –> the casino industry’s aggressive marketing of older patrons. It’s opening image – a coin slot machine from around 1960!  OMG! Why not show a typewriter instead of a computer! We seniors today are smarter, more mobile, more fun, more energetic, healthier, more sociable (we can be a bunch of “twits”) and frankly here to stay.

Alright, here are 4 quotes from the article and NETG’s response: Continue reading