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bob Dancer's new column, new question

alanleroy
alanleroy
Mar 2, 2011
10:49pm
Block User
The unasked question...

Is it better to have an $80,000 gambling bankroll or $80,000 in a real investment?
mrmarcus12LVA
mrmarcus12LVA
Mar 2, 2011
11:05pm
Block User
Quote
Originally posted by: MoneyLA
But let me change the question around to this: Who's better gambler, the person who wins $300 with the smaller bankroll or the person who loses $300 with the much larger bankroll?
This makes no sense at all. Neither a recent result nor a stake is indicative of skill.

Quote
Originally posted by: alanleroy
The unasked question... Is it better to have an $80,000 gambling bankroll or $80,000 in a real investment?
Nor does this make any sense.



snidely333
snidely333
Mar 2, 2011
11:06pm
Block User
It is just a lame question from Dancer.
arcimedes
arcimedes
Mar 2, 2011
11:22pm
Block User
Quote
Originally posted by: alanleroy
The unasked question...

Is it better to have an $80,000 gambling bankroll or $80,000 in a real investment?


Not really a bad question, just not enough information. The key issue is what is the return on investment. With the $80K bankroll and an edge of 2% it is possible to double that every year. Not many investments can do that. OTOH, if the edge is only .2% then very little is returned. Of course, this also happens to some investments as well.


alanleroy
alanleroy
Mar 2, 2011
11:59pm
Block User
Quote
Originally posted by: mrmarcus12LVA
Quote
Originally posted by: alanleroy
The unasked question... Is it better to have an $80,000 gambling bankroll or $80,000 in a real investment?
Nor does this make any sense.

The article points out that you're better off with 80K than 10K...that's not terribly earth shattering. I say the question that should be asked is whether it's smarter to use an 80K bankroll for 'advantaged' casino gaming or a real investment. What's so hard to understand about that?
chefantwon
chefantwon
Mar 3, 2011
12:47am
Block User
Quote
Originally posted by: arcimedes
Quote
Originally posted by: alanleroy
The unasked question...

Is it better to have an $80,000 gambling bankroll or $80,000 in a real investment?


Not really a bad question, just not enough information. The key issue is what is the return on investment. With the $80K bankroll and an edge of 2% it is possible to double that every year. Not many investments can do that. OTOH, if the edge is only .2% then very little is returned. Of course, this also happens to some investments as well.


Is this before or AFTER taxes?? Also you won't be doing that year after year.
redietzxyx
redietzxyx
Mar 3, 2011
1:11am
Block User
I got the point of the article, folks. I just think this article, if presented in any English 101 class, would have been sent back for serious renovations -- with an H-bomb. And I think I'm being kind.

Now, arcimedes, I understand your frustration with people with math shortcomings. My primary background is writing -- and I welcome any other writers/journalists to chime in or contradict -- but this thing was a mess. If you sat down 100 members of the general population, how many would have gotten it or enjoyed it? Not many, I'd say. If you sat down 100 gambling experts (yes, of which I would be a member), how many would have understood it, enjoyed it, or derived some benefit from it? Not many, I'd say again.

I'm kind of curious if these columns are edited/vetted by LVA, or if it's hands-off.

Give me the
redietzxyx
redietzxyx
Mar 3, 2011
1:13am
Block User
David matthews columns of days gone by. Simple, clear, useful.
MisterPicture
MisterPicture
Mar 3, 2011
1:19am
Block User
Quote
Originally posted by: alanleroy
Quote
Originally posted by: mrmarcus12LVA
Quote
Originally posted by: alanleroy
The unasked question... Is it better to have an $80,000 gambling bankroll or $80,000 in a real investment?
Nor does this make any sense.

The article points out that you're better off with 80K than 10K...that's not terribly earth shattering. I say the question that should be asked is whether it's smarter to use an 80K bankroll for 'advantaged' casino gaming or a real investment. What's so hard to understand about that?
Uh alanleroy, the answer is.............it depends!

Is it an investment in Bear Stearns in 2007, or an investment in Google in 1998, or maybe a T-bill? How much is your time worth? - investments are more or less passive, while VP takes an enormous investment of time.

The fact is, bankroll requirements make advantage play impossible for just about all of us. To make minimum wage on quarter games, a prudent player should start with a $3-5,000 bankroll. How many minimum wage workers have that much in the bank? And it scales up from there; a multi-millionaire might have the bankroll to profit $100 per hour as a professional, but chances are he has better things to do with his money and especially his time.
RoadTrip
RoadTrip
Mar 3, 2011
2:19am
Block User
Quote
Originally posted by: forkush
Quote
Originally posted by: alanleroy
Quote
Originally posted by: mrmarcus12LVA
Quote
Originally posted by: alanleroy
The unasked question... Is it better to have an $80,000 gambling bankroll or $80,000 in a real investment?
Nor does this make any sense.

The article points out that you're better off with 80K than 10K...that's not terribly earth shattering. I say the question that should be asked is whether it's smarter to use an 80K bankroll for 'advantaged' casino gaming or a real investment. What's so hard to understand about that?
Uh alanleroy, the answer is.............it depends!

Is it an investment in Bear Stearns in 2007, or an investment in Google in 1998, or maybe a T-bill? How much is your time worth? - investments are more or less passive, while VP takes an enormous investment of time.

The fact is, bankroll requirements make advantage play impossible for just about all of us. To make minimum wage on quarter games, a prudent player should start with a $3-5,000 bankroll. How many minimum wage workers have that much in the bank? And it scales up from there; a multi-millionaire might have the bankroll to profit $100 per hour as a professional, but chances are he has better things to do with his money and especially his time.


AND....

The well funded big bankroll player will have far fewer opportunities to profit at the $100 / hour level than the low roller 25 cent player "earning" minimum wage.

That well funded player may be "lucky" to find two or more "play" days per month that will "return" the hypothetical $100+/hour.

All things considered, I'd rather be the multi millionaire.




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