Quote
Originally posted by: chefantwon
Sure your going to lose here and there, but the object is not to lose your a$$ in the long run. Money and session management are ways to limit ones expposure, hence ones risk.
Originally posted by: chefantwon
Sure your going to lose here and there, but the object is not to lose your a$$ in the long run. Money and session management are ways to limit ones expposure, hence ones risk.
Long run and money/session management don't go together.
Session management is about prolonging playing time while on vacation. If you bring $100 to Vegas for two days, and plan to gamble once a day, then limit yourself to $50 for the first day so you'll have another $50 for tomorrow.
The casino has a new game of "guess my number" where you bet $10 and pick a number between 1-10. The casino's number changes once per day and you're allowed 10 bets per day. if you get the right number you win $90. If you're one off of the right number you win $10. Otherwise you win nothing.
If you bet all ten numbers you're going to come out ahead on this game by winning 7x$0 + 2x$10 + 1x$90 for a total of $110 win on $100 bet yielding a net profit of $10.
Today's casino number is 9.
Using session management I'm going to bet the numbers 1, 2, 3, 4, and 5. I'll have lost $50, my session limit, and go to dinner. I come back after dinner and bet 6, 7, 8, 9, 10. I win $110 and go home a happy winner.
Playing for the long run I go ahead an bet all ten numbers at once knowing that I will come out a winner eventually. Even after betting 1-7 and loosing $70 I continue. After playing the last three numbers the math come through and I head off to dinner with an extra $10 in my pocket.
The only difference in the session management and long run strategies above is the number of playing sessions. Recreational players don't put in the time required to reach long term results and instead have to use session management to prolong their recreational time.
