How do you view a "break even" trip?

While I'm certainly not the kind of gambler you are MoneyLA, I do enjoy my trips to LV and AC when I get the chance. On my first ever trip to LV, my friends and I were staying downtown and no matter where we played, I would lose $50 here, $100 there and never really did anything the whole weekend. By the last night I was down about $800 and we had a couple of hours before meeting at the hotel to go to the airport. I walked into the Horseshoe and started playing craps. Some kid who had turned 21 that day started throwing the dice and went on a 45 minute roll that was the craziest thing I've ever seen. If I were playing larger amounts I would have won thousands, but I had the most amazing time walking away from that table and going back to the hotel even.

A break even trip is never break even...I count it as a win.

Thank you all for your comments.

RoadTrip of course makes perfect sense with his comment that once you win the money it is your money and not the casino's money. He reacted to my report that I gave back most of my $4,000 win by writing: " I could have left any time with that money, but chose to continue to gamble. I chose to give it back. Such a LOSER! Loser, loser, loser. What else can you call losing $3,700?"

So this brings up a multitude of questions such as:

1. what is your win goal
2. when have you won enough?
3. when do you fear losing?
4. will you only lose if you continue betting?
5. might you win more if you continue betting?

I dont have the answers? And I guess they vary with the individual, how much time you have at the casino, whether you have to save money for the next day or next session, or your willingness to risk cash that either came from your bank account or from the caino's account?

If we go and have fun for a week and come home with somewhere around what we took ,thats not only a breakeven trip,thats a winning trip to me. I know if i go have fun in orlando for a week, i sure as hell am coming home a lot poorer(thats not a word is it?LOL),but I had fun. Gambling to us is purely entertainment and money well spent(or won).
To ever say "i was up, but lost 3700" is a horrible analogy. Thats like me saying"i sure wish I had sold citibank at 53 for a nice profit". I didnt lose anything until I was stupid enough to not get rid of it when got back to break even.
I guess breaking even is in the eye of the beholder.

Breaking even is great! We gamble for entertainment, and think of all the COMPS earned on what you were enjoying- which is playing.

3700 dollars now-- whew! I would have walked, and came back at another time.
Or- I would have taken 1000 and said- this is it- when it runs out- I am done.

Of course after a few cocktails, and feelings that the machine is "due", I can see how you would have continued.

Playing VP at $25 a hand, a $4,000 swing is not that unusual,is it? No different than a $200 swing on a quarter machine. I've had plenty of them.
I don't set win goals, but when I get X ahead, 1/2 X goes into my pocket and doesn't come out again that session.
When is enough enough? It's like porn. You'll know it when you see it.

billryan, also good thoughts.

indeed vp at $25 a hand can easily produce a 4K swing.

but I am curious about this: "when I get X ahead, 1/2 X goes into my pocket and doesn't come out again that session."

what is the "x" ? Thats really the million dollar question.

A couple of weeks ago I found myself ahead also by about 4K and went on to lose it as well... plus more.

what is a "smart" formula to follow?

I consider a break even trip to be way under budget.

I 'try' to budget a certain amount for ach day of a trip, and that amount is supposed to cover everything I might spend that day. gambling, transportation, any food that doesn't get charged to my room, etc. If I budget $800 for a particular day and I end up with $200 more than I started the day with, I say that day, I came in $1000 under budget. If the trip budget is $3000, and I come home with $3000 in my wallet, the trip was $3000 under budget

If you continue to bet long enough the only sure thing is that you will lose. As long as there is a house advantage if you continue to gamble long enough you're going to give the money back. I personally look at breaking even as a win whether it's for a whole trip or just one night. The reason it's a win to me is simply because it's a night of free entertainment. One can't go to the movies and then get their money back they spent on it at the end. Overall I'm happy with any win especially if I'm gambling in Detroit. I would certainly consider $300 a win, but it certainly does suck to give that much money back. I don't consider giving back your winnings as a lost because in the end if you leave with more then you started with you're a winner. You can't be considered a "loser" if you leave with more then you started with.

I always expect to break even. A night of entertainment and break even is my goal.

To answer the specific questions:

1: I do not have a "win goal". I play poker, and if I am in a good game I continue. If not, I stop and find another. When I am in a casino, I do not have a win goal either. I constantly readjust.

2: A person will never "win enough". Human nature and greed will easily trump "enough".

3: I fear losing the moment I walk through the casino or poker room doors.

4: If playing a -EV game, the more you play, the more you will lose.

5: Of course, you might win big on the next spin. What are the odds?

When I "gamble", and I sometimes will play -EV casino games after a poker session, I will begin by determining my "budget". Whether $10.00 -$20.00 (rarely more for -EV games).

I will run my money through once, than "adjust".
If down, I may quit. :::shrug:::
If up, I may decide to run it (origin, not profit) through again once.
If I have a big win, I reevaluate. Perhaps I've just won $300.00 on my origin of $10.00-$20.00. I "cash out", or TITO out. When I reevaluate, I will say to myself, "I am above origin by $300. I will allow myself to continue to play, and put 10% at risk. I may choose 20%, or some other amount."

I than start of with my "new" amount of xx%, and run it through once. Than readjust. I constantly readjust, and consider my "origin". I take this approach on machines and table games. Table games I put whatever I receive into a different stack of chips, and readjust when my original stack is "done".

I will never quit at the high point, if I'm winning, I will continue to try to win more. But by constantly evaluating, and adjusting my "origin", it is almost impossible for me to lose back a significant win.

If I only get to play a short while, so be it. If I want to play for a long time, I can play pennies instead of dollars. After all, I am playing, and gambling "For Recreation".

Hmmm.... for $3,700.00 I could......

Buy a new game system, and games including DDB, etc.
Hire a scantily clad hot female to serve me.
Hire a personal chef to feed me.
Hire a bartender to get me drunk.
Hire a "hostess" to kiss my ass and pretend to really like me.
Stay home and not run any risk of injury, etc.
And have "fun" in a cleaner, safer environment.

Oh, and have money left over!