My recent check-cashing jackpot has generated a lot of discussion, both in the Comments section and private e-mails and conversations. Although most people are genuinely happy to hear such good-luck stories, there are always a few who complain that I talk too much about the positives of video poker play and ignore the negatives.
This might be a legitimate complaint. Big jackpots lend themselves to big – and interesting – drama. Talking about long losing streaks, on the other hand, is more of a downer subject. However, I want to be sure that my writing is balanced. Therefore, I need to tell you that despite that one nice jackpot, Brad and I are down for the year.
Volatility is the definitely the biggest issue for a video poker player, whether you are a casual recreational gambler or a serious by-the-book skilled professional. The results of video poker play, even if you play as perfectly as humanly possible, will never be tracked on a straight line. In fact, if you put your video poker software program on “automatic” to play perfect strategy, for a few hands or even millions, you will see that the results look more like the blueprint for a roller-coaster.
That is why I often describe video poker as a roller-coaster and warn that it takes nerves of steel to tackle the ride. And this is the reason that you also need an adequate bankroll so you can survive the steeps drops in-between the jackpot heights.
One word…congratulations:)
One factor in an overall down year could be that unlike +EV play, playing high-denom -EV VP (which is what I gather you do these days, since $1 and up games these days are almost all -EV) doesn’t depend on a mathematically reliable formula to achieve a positive return. While a FPDW player KNOWS that over time, he will achieve (assuming optimal play) his expected 100.7% return, someone who depends on the largesse of the casino has no such assurances.
You play a certain amount, and then expect a certain amount of perks, but the amount and nature of those perks is dependent on the whim of casino marketing departments, your hosts, and the corporation that owns the casino. But you put in your action BEFORE you ever find out what goodies you’re going to get. You could also receive goodies that you don’t want or can’t use, making them essentially worthless and making your overall play the dreaded -EV.
I’d say that high-denom -EV play with the idea of earning enough comps/perks/cashback to compensate is a high-risk, high-volatility strategy that should not be attempted unless one has an IMMENSE bankroll AND is comfortable with possibly losing a major portion of that bankroll. Plus, of course, you have to learn to play many different games PERFECTLY, since even small errors at such denoms could cost hundreds of dollars.
I always recommend that players give their business to casinos that reward them with comps they value. Those perks are different for each person, as we all have different wants and needs. But if the session is a loss (as many will be), at least you have something positive and tangible which helps you get through the rough times. In my opinion the worst experience in gambling is a big loss where you are not treated well. So, don’t seek out situations that add “insult to injury”.
Do you keep a running lifetime total or do you go year to year? I have been keeping track now for about 5 years and the swings can be amazing.
Hi Mrs Scott,
Volatility should be the first consideration of all “casual” video poker players. My wife, Nancy, and I are two to three day casual players. We play only 9/6 JoB or 8/5 BP if there is no 9/6 in our monetary range. A player must be honest enough to play with only the money that can afford to be lost without changing their lifestyle. The casinos still comp the same drinks and with enough nickel play you can get comped to the buffet and/or coffee shop at the places we play (Boyd casinos). We will play on one card if playing nickels to increase our chances for comps. I have been told by two hosts at different casinos to play on one card to enhance our comps. Yes, you read that right. As quarter and nickel players we still go to a host, if necessary, to get comped. We thank you for starting us on the path to video poker enlightenment. We feel as though we’ve done you proud over the years. We never pay for a room, food inside a casino where we play or drinks. It’s when we’ve come to Vegas and play nickels that we really appreciate the power of comps. A casual player needs to be realistic in their comp expectations, but we’ve found that one comped meal along with the food with our mailers is as much food as we want. We never cash our points and use them exclusively for meals. This really helps when you go without a food credit on your mailer. Continue to have good fortune in all that you do….Rich
You have always been upfront with the risks/requirements that are required to play VP. I’m sure you will shortly turn positive for the year.
Glad to hear about your jackpot!
Keep up the great website.
Thank you so much for your HONEST statements as alaways.
So many people are out there who are deluded into thinking they will become millionaire’s playing NSUD and too many charlatans claiming they actually are doing it.
In the same sense that you talk about roller-coaster, it’s important to emphasize level of gambling. I play a decent game of video poker and probably could play at most any level I wished.
However, I don’t need to have an income from video poker so don’t have to try to win $xx per hour. I can be content with the game and while I get kidded about at $250 royal, I weather the bad streaks at nickels much better than I would weather the bad streaks at quarters.
Don
Your comment hit the nail right on the head Jean. Since almost all VP schedules at $1 and up are loosing games the only way to keep your head above water is with casino promotions such as multipoint days ,special drawings ,etc.
hi jean
i enjoy reading about brad and your winning times.
your friend tim
We have studied our Video Poker and can play almost with our eyes closed and yet LUCK has been not good to us for over 6 months. Every game and casino have been a loss since November of last year. Finally this trip in May was a win, be it not enough to make up for the losses.
Expert play will always be a help, but luck still factors in.
Paul & Judy