Short term casino Bankroll Management vs Long Term Money Management..

[Kramer]

Thought i 'd post a general question as to "Casino"
SHORT TERM
money management strategy vs
long term sports investing MONEY
management strategy

for ex if you bet NFL , its a year long season ,
Maybe in casino you go 2-3 times per year ..
2-3 hrs a night

how does the money management change?

I see lots of peeps continually go to the atm machine

for me if i'm up like 30% like a stock investment ,

time to reconsider the stradegey ,

If i brought $ 500 to lose so be it , but if i'm up
$ 150 ,
seen too many blow the whole $ 650 ...

thoughts?

I.E YOU CAN'T EXPECT $ 500 TO TURN INTO
$ 250 PROFIT AT A CASINO REALISTICALLY ..

[mvalentin]

when i make trips with the friends to vegas or reno, my bankroll is entirely different from my regular bankroll, In fact my wagers in casinos are about 10% of the size of any wager I make online or with my mom LOL

any serious bets i do online in my hotel room, there is just no value in putting any serious bank on live sportsbooks, lack of options, poor value, etc

But my fund for actual casino wagers, i still enjoy the novelty of it all is the same as my fund for strippers and booze, bail etc.


I just remember to keep vegas wagering budget, separate from yearly wagering budget, thats how money management changes for me

[jarhead60]

I am not a hard core gambler. From my experience and observations, most people are recreational gamblers on sports and in casinos. Most, but not all. Again most people consider the money lost gambling as entrainment expenses and do not lose more that they can afford.

Most people will bet on a sporting event and expect to lose, but do not bet enough money to be hurt when they lose. To some people its $10, to others its $1,000. Most will make the bet if they plan to watch the event, and/or they have an interest in a team. Same goes with a casino.. most people set a limit and consider it a win if they break even.

I also doubt that there are very many people who make a living gambling (not counting poker and markets).

Sports betting. Based on my studies, NFL is beatable. Horse racing can be a breakeven. All other sports, I don't know how to overcome the odds and variability. If one can win and 11/10 bet at a 60% rate, one should bet some type of Kelly scheme. But I don't live in Nevada so betting enough money to make it worthwhile is a problem. There is also the marginal utility factor, at this point in my life a loss of $100,000 has more impact than winning $100,000. Even the football contests I enter with partners are as much social as financial.

Casino. Low take out by casino in craps (with out prop bets) and in blackjack, but the casino will grind you down over the long haul. When I go to a casino (3 or 4 times a year) I play blackjack. I am trying to catch a run, so I bet heavily when I think I am on a run, and I can turn the $500 to $1,500 or $2,000 quickly. And on balance, over many years, at blackjack, I am a net loser. LOL

[Kramer]

BLACKJACK

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