Harrah’s Cherokee Trip Report – Part 4
Gambling is always like riding a rollercoaster. I can’t think of any gambling activity that is like a slow drive down a straight road through a park. The ups and downs are what make roller coasters such thrilling rides. And if you think about it, the volatility is a big factor that makes gambling thrilling.
You disagree? What if you went to a casino and could play a game that paid you $2 every hour no matter how you played or how any hand turned out? Never less than $2, but never more. No holding your breath when you draw to four to a royal. No suspense when the wheels spin and 2 symbols come up and you are praying for the 3rd matching winner. No heart-stopping anxiety when the dice are thrown and one is wobbling toward a 7-out number.
Now, not everyone wants to ride a roller coaster and not everyone should; the park usually displays cautioning signs that often impose strict age, height, weight, and health restrictions for riders.
All this leads me to the question about which so many of you have been wondering: How did my ride go in Cherokee? Here are the details, in round numbers.
I played VP about 10 hours over 3 days, with a goal of earning the max number of bonus tier credits each day. I figured I’d lose about an average of $1,000 an hour if I didn’t hit 4 deuces or a royal. At the end of 9 hours and 55 minutes, I was down about $8,500, with only about 35 more tier credits to reach the max bonus tier credits for that day. After that, I was ready to call it quits for the trip.
I wasn’t thrilled to be losing that much, but it was slightly less than expected and certainly a lot less than it could have been if I’d been further on the side of short-term bad luck. I’d drawn to two or three deuces off and on for those 9+ hours and been discouraged every time. So almost time to quit, I held one deuce, with little thought except that I was tired and would be glad when I reached my requisite tier credit goal and could go and join Brad in a comfy hotel bed. And that was exactly when the unexpected happened – the volatility thrill. The other 3 deuces made their appearance.
So now I would go home only $3,500 down instead of $8,500. Most VP players will understand why I felt like a winner!
I’ve already been questioned about what my bankroll was for this trip. I could look up the math and give you exact numbers – and perhaps some expert can put them in the comments. But I simply drew on my past math knowledge and experiences to arrive at ballpark figures for this trip.
Brad and I played a lot of NSUD over the years. Although I figured my average loss – probably, hopefully – wouldn’t be over $10k, I knew one’s play results can stray far from the average. So I took $15k in cash. I’d also set up a credit line of $20k, but that was more to re-establish myself as a high-limit player, as I’d been in the past. I didn’t want to tap into that. However, the last 10-15 years, we’ve always had plenty of back-up bankroll money we can access. Except for the gifts we gave our families, all of our past gambling winnings are still sitting quietly, growing in various investments.
And here’s some advice for even very successful gamblers, many of whom have been learning this during the pandemic. Keep as big a nest egg as you can. One can live and play like the good times will last forever, but you can never predict how gambling conditions will change, sometimes slowly, while other times at warp speed. And you may be healthy now, but you never know when medical issues will take you down.
Brad and I never expected our life would change so quickly, but we ‘re so thankful we stayed frugal during those heady golden gambling years, never viewing a big jackpot as an opportunity to be extravagant. Retirement options are unbelievably pricey, but it’s fun to say that video poker is now footing our bill!
Keep sending me your questions. I will be answering more in my next blog.
