Author Topic: 50$ a day  (Read 3175 times)

kav

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50$ a day
« on: June 27, 2016, 07:34:20 PM »
There are (mostly older) people that go to the casino every day and win a daily pay of no more than 50 euros.
Have you seen these guys? Have you heard about them?


 
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Belgian

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Re: 50$ a day
« Reply #1 on: June 27, 2016, 07:43:21 PM »
In Italy there are many players like that, women too.
They are very well known to the casino staff. They never win more than their daily "allowance".
That's where the system breadwinner took its name from
« Last Edit: June 27, 2016, 07:45:46 PM by Belgian »
 
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Janusz

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Re: 50$ a day
« Reply #2 on: June 27, 2016, 07:47:59 PM »
There are (mostly older) people that go to the casino every day and win a daily pay of no more than 50 euros.
Have you seen these guys? Have you heard about them?

the problem is man. You remember all the days an elderly gets a payout and moves home with a win.
You donĀ“t even notice, when he leaves the casino with a loss his hanging down.

The same with the players who plaster the whole carpet. They get paid every spin, but they lose more then they get paid.
 

mr j

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Re: 50$ a day
« Reply #3 on: June 27, 2016, 07:50:02 PM »
Can I jump on your thread Kav because its a bit related. If not, move it however you want.

We read a lot regarding, shoot for a 8-10% profit, then leave. I was gonna do an experiment, perhaps from curiosity? Start with a 1K BR and only shoot for a 5% net profit. It could happen in a couple spins (lol), go home.

Add that into my BR and (next visit) always stick to 5% no matter what!!! Work the math out prior to walking in so I know if I hit it, done for the day.

I believe the inevitable will happen at some point (lol) but 5% (what about 3%?) seems very conservative.

Ken
 

Jesper

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Re: 50$ a day
« Reply #4 on: June 27, 2016, 08:12:24 PM »
In the 1970ties i meet them at every single Casino in West Germany, they call them "Rentner" and they use to try getting DM10 every visit. They even brought there own food from home.

They played ECs, and had some method I did not understand, not betting every spin. According to theire win goal they use high chips at DM 5. At this time it was french roulette with about 4 dealers, and they used a rake.

The table min was DM2 at the lowest table.
« Last Edit: June 27, 2016, 08:14:52 PM by Jesper »
 
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BlueAngel

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Re: 50$ a day
« Reply #5 on: June 29, 2016, 07:03:43 PM »
Quote
They even brought there own food from home.

So this is where the "bread-winners" is coming from!:-D

The real question is: would any of you considered a won session in which he quit with 1 unit profit but during the same session had a draw down of 67 units?

Haven't you read the book "Monte Carlo anecdotes" which describes someone who request the permission of raised table limits and living the casino with just 1 unit profit? Haven't you learned from that story yet?!

After all is it only a matter of how deep is your...pockets? Or is it something more than this?
 

kav

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Re: 50$ a day
« Reply #6 on: June 29, 2016, 07:28:57 PM »
Bankroll strength (relative to the system requirements) IMO is a very important part (say 33%) of any successful strategy.
 
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BlueAngel

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Re: 50$ a day
« Reply #7 on: June 29, 2016, 07:57:33 PM »
Bankroll strength (relative to the system requirements) IMO is a very important part (say 33%) of any successful strategy.

Important yes, BUT not the most important since you evaluate it 33%, my consideration is of similar caliber...
 
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dobbelsteen

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Re: 50$ a day
« Reply #8 on: June 29, 2016, 10:36:42 PM »
In the past I tried to realise 5 units per hour. 2% profit is realistic. I played the method of the dices on three or more tables. Every hit had a profit of 20%. Due to the zero and a single No-hit  the winpercentage decreased.
 

Harryj

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Re: 50$ a day
« Reply #9 on: July 02, 2016, 01:52:46 PM »
  IMO there is no such thing as the Holy Grail. A system that cannot lose. Every system not only can lose, but will lose sooner or later. It is therefor easier to manage the certainty of a number of small loses. Rather than the uncertainty of a very large loss.

   That is the sum total of my money management scheme ! Accept those small loses and work them into your method. They are part of the cost of doing business.

      Harry
 
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kris

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Re: 50$ a day
« Reply #10 on: July 03, 2016, 06:32:36 PM »
They even brought there own food from home.

;D  Is it even allowed?
 

Migri

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Re: 50$ a day
« Reply #11 on: September 02, 2016, 12:48:55 PM »
 :o
 

Sputnik

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Re: 50$ a day
« Reply #12 on: September 02, 2016, 05:22:59 PM »
- - - - - - - - - -

Math Professor Posted 03/20/06

- - - - - - - - - - 

Someone quoted John Patrick as saying I don't win much but I don't lose much either.
Now he was critical of this statement but there is a reason for it.

We who have lived with gambling all our lives understand the relationship between what we win and what we lose.

The Equation is simple enough .
Magnitude of profit is usually a function of magnitude of wagering.

One of the most common failures in gambling is progressive betting.
Several small wins are satisfying but  when the next small win does not happen and it turns into a progression which often recovers the day but sometimes results in ruination.

Giving up on a progression is hard because losing can mean the erosion of several days work.

The gambling flaw is inherent in this.
Christopher Pawlicki highlighted this fact.
The equation for winning small returns often calls for a progression .
The progression  ultimately however snatches away the prevous wins.

 For example 20 + 20 +20 +20 +20 has been achieved with 50 + 100 + 80 + 120 + 100  The final destructive act is a 100  that does not recover .
Even without a progression 100 absorbs the 5  sets of 20 + wins.

 I call this the 20/100 flaw.

20 is therefore 20% of 100.
A good result by any standards.

In order to control the erosion of previous wins the ratio of win to wager
needs to be as close to parity as possible.

 Say 80 + 80 +80 +80 + 80  with 100 + 100 + 100 + 100 + 100

If the 100 goes then we still have nearly 4 days work intact.
We can walk away and get them again another day.
Not many gamblers can achieve 80%.

This is the flaw.

There must be plenty of gamblers here who understand this but any replies should be better than 3 and out .
The math does not work.

 
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Reyth

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Re: 50$ a day
« Reply #13 on: September 03, 2016, 01:04:56 AM »
Ya what destroys systems is extreme variance which is evidenced by consecutive sucessive loss streaks strung together.
 

scepticus

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Re: 50$ a day
« Reply #14 on: September 03, 2016, 02:04:27 AM »
Ya what destroys systems is extreme variance which is evidenced by consecutive sucessive loss streaks strung together.
It depends on the system Reyth.
I accept that long losing streaks  MAY happen but. as HarryJ says, you should limit  your losses .If you have  a good Bet Selection method your bankroll is unlikely to be destroyed . If your bankroll is destroyed it usually means that your money management is flawed.
As for winning ONLY 50$ a day how many in this forum would be happy with that amount. Don't sneer at any small wins .Remember that we are constantly being told that we MUST lose and our critics are careful to avoid saying when " Eventually" will happen.
« Last Edit: September 03, 2016, 02:10:18 AM by scepticus »