Tag: money management

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Putting Bills Into a Machine

Before playing a video poker machine, I typically load it with $500 or $1,000 in bills or tickets. I do this for a number of reasons:

  1. I keep records of how much I win or lose each day. It’s easier for me to remember round numbers. If I’m playing a $2 game, ($10 a play), it’s common to be up or down several hundred dollars in a session. If I add another hundred-dollar bill as needed, it can be difficult to remember whether it’s four or five of those so far.

    For each additional bill, I could record it on my phone (I use the Notes app on my iPhone), but I can keep thousand-dollar increments straight more easily. If I go in for $3,000 or more in a session, I write each $1,000 play as I go.
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Colin Jones (S2 E2): A Brain and a Little BR

In his book The 21st-Century Card Counter, Colin Jones talks about bankroll requirements. On page 81, in the chapter “Do I have What It Takes? The DNA of a Card Counter” he says this: “A card counter needs only two tools: a brain and a bankroll.” When I read that sentence, I almost threw an apoplectic fit. I thought, “Here it comes, this guy is going to perpetuate the myth that the main weapon of an AP—maybe even the defining characteristic—is a bankroll.” To my pleasant surprise, he then went on to dismiss that fallacy.

He writes that you need a brain, but he already dispelled the MIT Myth earlier in the chapter (as I did on page -3 of Exhibit CAA). You don’t need a great brain—me and my little brain will do just fine. Same with the bankroll. You don’t need $10k, he says—a little BR of $2k will do.

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Going Down in Stakes

More than a decade before I started playing video poker, I was doing my best to make it as a backgammon player. In the 1980s, I regularly played at the Cavendish West, located in West Hollywood, California, right where the Sunset Strip met Beverly Hills. Continue reading Going Down in Stakes

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Bankroll Concern

I ran into a man, “Paul,” who had taken several of my classes. I remember Paul as a better-than-average student. I believe he makes good “what game to play” decisions and will have a strategy card with him. When we met in early January, I recommended that he play the South Point promotion because I thought it was a good one for him. Continue reading Bankroll Concern