Gambling and Stress

Bob Dancer, with some help from Frank Kneeland, recently wrote a three-part series on this subject.  You can read it here in another section of this LVA site.

They covered the subject well, mentioning some of the factors that cause stress, including  inadequate bankroll, decreasing opportunities to play with a good percentage edge, spouses/partners who aren’t always on the same page, and a personality that just can’t take losing. 

I have written much about all of these factors off and on in the past.  I have talked about millionaires who were so nervous about losing that they leave a  machine if they lose the $20 bill they always start with, spending more time jumping around than actually playing.  I have had numerous e-mails from  skilled advantage players who are so discouraged and stressed out because no matter how much they win it is never enough to cover the losses of their spouses who want to  play just whatever is fun for them, even if the casino edge on this game is too high to ever overcome. 

Recently there has been a continuing sense of panic running  in my Inbox and on Internet forums.   Players are stressed out because of longer losing streaks than they have ever experienced before.  They just aren’t facing the fact that as they play with smaller edges the larger the bankroll they will need.

Brad and I feel fortunate that gambling has mostly just been fun for us – and there has been little stress during these last 28 years in casinos.  It has helped that we both love the challenge of gambling profitably, and although we have other interests, sitting side-by-side at video poker machines is one of our favorite shared activities.

However, we have expended a lot of time and energy doing things that keep stress from entering our gambling life.   Teamwork is the key for us.   I spend many many hours in my office at the computer, researching  plays and organizing our casino schedules.  And Brad cheerfully goes out almost every day to do the tedious chores that he likes but I don’t enjoy,  like running from casino to casino to pick up free play.  Then when it is time to actually play, we can enjoy that time together.

Another stress-reduction technique for us is being extremely careful in our bankroll management.  We started out playing VP  in the early 90’s with a $5,000 bankroll and played only quarters for many years.  We were very strict about playing only when we had the advantage.  More importantly, we never spent a penny of our winnings.  They were shoveled right back into our bankroll so we could finally go up to 50-cent machines and, albeit slowly, then to dollars.

Actually we have really never spent much of our winnings.  Although our other income was always modest – both while working and then more so in retirement – learning to skillfully use the comp system allowed us to keep our actual living expenses low so we never needed gambling profits.  Therefore our bankroll has just kept growing  – and we can play at much higher levels with no stress. 

Easter is coming up.  We wish you a very stress free holiday weekend, even if your plans include multiple points in a casino!