Tag: Bankroll Management

Zen and Casino Gambling

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I can't recommend this book more highly. Not only is it well-written, but it is truly a pleasure to read, and it's one of my favorite how-to books

I can’t recommend this book more highly. Not only is it well-written, but it is truly a pleasure to read, and it’s one of my favorite how-to books

One of my favorite books I read cover to cover was”Zen and the Art of Motorcycle Maintenance.” Years later, “Zen and the Art of Casino Gambling” by Miron Stabinsky & Jeremy Silman was one of the first gambling books I read cover to cover.  It was different than the usual “how to” gambling book, it was informative and amusing.  It was meant to “provide valuable insight into the vital but little understood aspect of maintaining the proper psychological and emotional balance needed ” to be more successful, or at least happier in the process. Check out the coonection of Zen and Casino Gambling.

Important Topics

Topics included in the book are:

  • Basic Rules & Strategies for Craps, Blackjack, Roulette, Baccarat, Slots, & Video Poker
  • Psychology of the Successful Player
  • Realizing what you Control
  • Money Management
  • Determining you credit/budget line

But the best parts are interesting and entertaining quotes and anecdotes. Today’s post gives you a few – some of my favorite quotes.  I hope your enjoy.

keep-calm-and-be-zen-37

Concerning Money Management, “He who remains in his center endures.”  In others words, stop when your session is done and either you’ve won enough, or you have lost your daily bankroll.

Concerning Player Psychology, Oscar Wilde once said “I can resist everything except temptation.”

Can resist the temptation?

Can you resist the temptation?

Concerning Player Psychology, “Disgrace is a fantasy that should be embraced. Misfortune is part of the human condition.” In others words, “Don’t let your ego make you play beyond your means.  When you resume play another visit you will realize how unimportant your previous anger in losing really was.

I like this one – “An optimist is a man who has never had much experience.”  In other words, If you have advice to give, do so only if asked. Besides,  you most likely need more practice and more experience anyway.  Then and only then will you realize offering without being asked is just a bad idea.

Final Thought

“I do not emulate the sages; I do not take pride in my own spirit.” – Ancient Zen Koan.  Gambler’s translation – Anyone can learn the basics of gaming strategy. Being egotistical about something you have no control over is the height of foolishness.

Don’t be foolish.  Make this book a staple in your gambling library.

Related Post – Gambling Books – Must Read Recommendations

Binbin

Your Casino Bankroll Requires Planning – Questions and Answers

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$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

10 Casino Money-Saving Tips From Jean Scott

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JeanScott

Jean Scott is the “Queen of Coupons” and in her many posts and newsletters, she included one must read with her “10 Casino Money-Saving Tips.”

Everyone like to save money at the casino. These money-saving tips should be part of every casino visit. Those considered “good” gamblers learn the best strategies on the best games and use any legal method to increase their odds and lower the casino’s advantage, thus, saving-money and lengthening their bankroll. Jean Scott is one of those authors who practices what she preaches.  Before continuing on, check out two of her websites Jean Scott’s Queen of Comps  & Jean Scott’s Frugal Vegas. For related posts in NETG, click on Big Data, Casinos, & Jean Scott & Playing Video Poker Like Jean Scott – The Monday Link

Jean Scott is the author of the best-selling book “The Frugal Gambler,” (a must for every gambler) a casino guide for thrifty low rollers, plus a sequel, “More Frugal Gambling.” She stresses sensible, responsible gambling and shows how to stretch out casino fun time whatever your gambling bankroll.

Retired from the high school English classroom, her passion is still education while she continues as an active player in casinos all over the country. Today, Jean Scott, who, in her words, is just an “ordinary grandmother,” is the world’s most famous low-rolling gambler and her fans are legion. 

While all of Jean’s suggestions are with Las Vegas in mind where she resides, her 10 Money-Saving tips in the Casino are great ideas to use or modify in our New England Casinos.  Here are her tips:

10 Casino money-saving tips from the Frugal Gambler

1. Study before you go.

Libraries and bookstores have oodles of casino and gambling books that will guide you on a money-saving path. The Internet is full of information on the various casino games. Learn which games have the smallest casino edge, or have a skill factor you could learn, or that enable you to risk your money more slowly. All of these will allow you to lose less and/or stretch your bankroll further.

Shooting at the Craps Table – have fun whatever your game is.

2. Treat gambling as a form of entertainment and budget it just as you do whatever else you do for fun, such as movies, eating out, and vacations.

Nothing takes away the fun factor more quickly than losing money that you need for life’s essentials. Do not take your checkbook or ATM or credit card to the casino with you. Decide how much you can afford to spend (lose), and take that amount in cash or safe traveler’s checks as your gambling bankroll. Make your gambling bankroll last the whole time you plan to be in a casino by dividing it into segments, i.e., in thirds if you are staying three days, in three-to-four session bankrolls for each day. Then never “borrow ahead” from the next session bankroll.

3. Join every casino player’s club you can, even if you don’t plan to gamble there.

You can join many online before you get to Vegas. Membership is free and many casinos give discounts to player’s card holders in their restaurants, gift shops, and for rooms.

4. Use your player’s card EVERY TIME you play, no matter how small the amount or short the time.

This allows the casino to track your play and thus know how much to reward you with comps, those freebie meals, rooms, shows, and other benefits that the casinos want to give their players.

Mohegan Sun's Momentum Players Club

Mohegan Sun’s Momentum Players Club

If you play machines, there is a place for you to insert your card. If you play the tables, you merely hand the card to the dealer of any game and ask that your play be tracked. Casinos cannot give you comps if they don’t know you are playing in their casino.

    An added benefit of joining and using a player’s card is that casinos often send mail offers to everyone in their database, sometimes even to those who have played little or not at all. You will be surprised at the money-saving offers that will appear in your mailbox when you get home.

5. Don’t drink too much alcohol, even if the drinks are free. It will cloud your judgment.

More Money-Saving Tips From Jean Scott 

6. If you are losing too fast, lower your denomination.

Change from the dollar slots to quarters or from quarter to nickels. At the tables, bet the lowest-value chip allowed.

7. Slow down your play — savor the noisy, fun-filled atmosphere.

The bells and whistles, the clanking coins, the high fives at the tables, the excited screams of winners — this is what makes the casino such an entertaining experience.

Remember the days of casino trips with coupon books?

8. Look for coupons and specials for discounted meals, shows, and sightseeing tours.

You can find many of these in the freebie magazines around town: at the bell desk, at rental car agencies and motels, at the airport, and right in your room. Read the marquees for menu specials.

9. Look for promotions that will add value to a game you play:

a. bonus players club points, like double points on holidays or on a certain day every week;
b. bonuses for certain events, like the top jackpot on slots, a certain quad in video poker, or a special hand in blackjack;
c. drawings for which you can earn tickets by playing your favorite game.

10. Make your bankroll last longer by taking frequent non-gambling breaks.

Take in a show, go sightseeing, have a long, leisurely meal, take a tour or go shopping. Get your proper rest. A tired gambler is a gambler who will make decisions he will regret. Get a full night’s sleep and take a nap, if possible. Gambling is hard work!
The Royal Queen of Coupons has spoken!  Check out her books at Amazon

Remember, when gambling & comp-harvesting, embrace the math not the Myth.

Binbin