Economics of Card Counting

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#61
Syph said:
[Card counting is] the equivalent of big game hunting armed with a rubber band and a paper clip, and I don't care what kind of rubber band you are using. Even those nifty red ones.
This just in >>
"Effective big game hunting with a rubberband now possible" say scientists developing next-generation finger weapons for DARPA. "Using 21st century 'rubberbands,' made of a mylar blended nanotech 'memory' threads composite, to propel a curare-coated kevlar micro flichette, an elephant has no chance," one researcher speculated.
 
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#62
zengrifter said:
"Effective big game hunting with a rubberband now possible" say scientists developing next-generation finger weapons for DARPA. "Using 21st century 'rubberbands,' made of a mylar blended nanotech 'memory' threads composite, to propel a curare-coated kevlar micro flichette, an elephant has no chance," one researcher speculated. zg
High-powered "wrist rocket" slingshot: $15.00

3/4" diameter steel b.b. : $ 0.25

Killing your neighbor's :cat:: A night of peaceful sleep, followed by 3 months in juvenile detention, in which I was :eyepatch: in the shower 4 times and :whip: by this big :cow: every day who tried to convince me I was :devil:.

Priceless! :joker:
 

Syph

Well-Known Member
#63
zengrifter said:
This just in >>
"Effective big game hunting with a rubberband now possible" say scientists developing next-generation finger weapons for DARPA. "Using 21st century 'rubberbands,' made of a mylar blended nanotech 'memory' threads composite, to propel a curare-coated kevlar micro flichette, an elephant has no chance," one researcher speculated.


Uh ... good luck!
 

Syph

Well-Known Member
#64
I was just perusing the threads, and realized I never got around to answering this:

Automatic Monkey said:
No, I expect to see my EV. When I see more than that, I'm very happy. When I see less, I'm less happy. Each happens about 50% of the time. If you are expecting to see less than your EV, you are miscalculating your EV or malpracticing on your game. One of the benefits of BJ over poker is that your BJ EV is reasonably calculable before you get to the casino, unlike a poker game which will vary from "gold mine" to "you might not beat the rake" and you won't know which until you've played for an hour.
Actually, at my poker games I know within seconds whether the game is worth playing. Most regs will tell you the same. And it can be quite simple. For instance, when Wilfred comes ... the game is good. I've taken thousands off Wilfred (just over the weekend, actually) and he simply doesn't care. It's pocket change to him, and he likes playing at my table.

And I like him playing at my table.

(that meeting-the-needs, thing)

Insofar as sizing up unknowns, it's not terribly difficult. The moment they step in to the room, I can all but tell you what they had for breakfast. And anyone can do the same. We make pretty accurate snap judgments, books are easy to read, and the covers are pretty good indications of what's inside.

***

Anyway, after 1000 hours in a typical count game, no counter can reasonably (and by that I mean with 90% probability) expect to attain what his expectation is calculated to be. This is not a matter of debate, it's simply a brute reality of the game.

Not trying to be mean or insulting, but if you were expecting to see half of your EV from counting, that might explain why you didn't enjoy your experiences as a counter. You're not talking about the useless metric "certainty equivalent," are you?
I believe the simulation is quite clear. Insofar as expecting to see half my EV from counting over a given duration of time... if anything, knowing that reality may have made my experiences as a counter somewhat more palatable. Solo advantage players who play for a living don't have the luxury of hoping to attain their expectation at some unknowable point in the future. At least, I don't. Baby needs a new pair of shoes. KJ needs his weed. That sorta thing. That's why I like my 1000 hours mark for a counter. Few can put significantly more time than that in a year, and it's just enough of a time commitment to reasonably expect to attain half of your expectation.

That all said, I must be honest and state that a straight count game would never satisfy me. It's simply too weak and transparent for my tastes. The edge too slight and the fluctuations too large. Most discover the same within short order of full-time play.

Best,
Syph
 

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#65
Cool & Cooler

Syph's realization of "1000 hrs for 90% certainty of 50% ev" I think is interesting. One should also be aware of the expense formula if they need to account for expenses.
:joker::whip:
 
#66
Syph said:
I was just perusing the threads, and realized I never got around to answering this:



Actually, at my poker games I know within seconds whether the game is worth playing. Most regs will tell you the same. And it can be quite simple. For instance, when Wilfred comes ... the game is good. I've taken thousands off Wilfred (just over the weekend, actually) and he simply doesn't care. It's pocket change to him, and he likes playing at my table.

And I like him playing at my table.

(that meeting-the-needs, thing)

Insofar as sizing up unknowns, it's not terribly difficult. The moment they step in to the room, I can all but tell you what they had for breakfast. And anyone can do the same. We make pretty accurate snap judgments, books are easy to read, and the covers are pretty good indications of what's inside.
Wow, hubris. Do you really believe you can tell what kind of a poker player a person is by looking at them? If so it explains why you aren't making any money- you are resorting to gambler's superstition and an irrational belief in your own superiority for your game selection. Sorry but I don't know of any nicer way to say it.

If I was going to switch to poker, it might be fun to design a game intended to take down skilled players with hubris. Showing them what they hope to see to indicate a good game, but actually giving them something else. A small team would do the job. There are poker AP's who would go bankrupt before they admitted their skills came up short, and that they were wrong.




Syph said:
Anyway, after 1000 hours in a typical count game, no counter can reasonably (and by that I mean with 90% probability) expect to attain what his expectation is calculated to be. This is not a matter of debate, it's simply a brute reality of the game.



I believe the simulation is quite clear. Insofar as expecting to see half my EV from counting over a given duration of time... if anything, knowing that reality may have made my experiences as a counter somewhat more palatable. Solo advantage players who play for a living don't have the luxury of hoping to attain their expectation at some unknowable point in the future. At least, I don't. Baby needs a new pair of shoes. KJ needs his weed. That sorta thing. That's why I like my 1000 hours mark for a counter. Few can put significantly more time than that in a year, and it's just enough of a time commitment to reasonably expect to attain half of your expectation.

That all said, I must be honest and state that a straight count game would never satisfy me. It's simply too weak and transparent for my tastes. The edge too slight and the fluctuations too large. Most discover the same within short order of full-time play.

Best,
Syph
I don't consider 90% to be the threshold for "reasonable," but that's just a matter of opinion.

Most of what you say is correct. To be a full-time player with no other income requires enormous reserves, enough to endure a bad year plus pay all of your yearly expenses out of your bankroll, and still have a bankroll. My personal target would be $250K cash on hand, minimum.

However when you have a J-O-B, you don't have to worry about not having a BR anymore or how you are going to pay your expenses. And the best part is, your EV is your EV. Sure, there are the sessions where I get killed, and they are exactly made up for by the ones where the blessings run me down and overtake me, and it doesn't really matter whether it happens this year or next. An AP with an additional source of income can do some amazing things and come back next weekend for some more. Being a weekend warrior raises my standard of living significantly, and same for many other guys in my class.

Now you are speaking of putting in 1000 hours a year, that's about 20 hours a week, how many people with middle-class incomes work 20 hours a week? What are you doing with the other 20-40 hours in a normal American workweek? No free lunch. I suppose it would be fun to be a "weekday warrior" hauling ice or bouncing or sitting behind a desk for a couple of days, then punching the clock, hitting the road and the real job begins.

Maybe that would work for you, if you have inflexible expenses, pay your expenses with a J-O-B and use your AP skills to pay for everything else. Then you can worry less about BR and concentrate more on maximizing EV. I don't see 1-2 NL doing it for you, that's volatile as hell even with your "bulletproof" system and if you are corrupting your game with your opinions and attitudes, well that's already been said, right?
 
#67
J-o-b

J-O-B:eek::cry:

I believe Syph:
For a small bank poker may be the way to go compared to nickel bj for a novice AP. However, if one already knows bj then learning poker will mean loss revenue while learning poker. Also, Syph was clear about game selection. It was all night when the opposition was tired, an advantage for him. As bj players we try to avoid playing fatigued, this is no different.

I think syph may have also been curious to see if it could be done, though he mentions friends of his went broke? That does not bode well.

For bj we can play 24/7

I agree with AM
an AP with a job can be more aggressive with their bank. Also, not mentioned they can play better quality games because one plays less often.

As a pro we have to cover expenses so our bets are probably less and we have to play less quality games in order to put in many hours.

Assuming Syph's low variance and earning $25 an hr would be probably equal to $30 to $60? in bj which is not hard to overcome.
 

aslan

Well-Known Member
#68
Automatic Monkey said:
Wow, hubris. Do you really believe you can tell what kind of a poker player a person is by looking at them? If so it explains why you aren't making any money- you are resorting to gambler's superstition and an irrational belief in your own superiority for your game selection. Sorry but I don't know of any nicer way to say it.

If I was going to switch to poker, it might be fun to design a game intended to take down skilled players with hubris. Showing them what they hope to see to indicate a good game, but actually giving them something else. A small team would do the job. There are poker AP's who would go bankrupt before they admitted their skills came up short, and that they were wrong.






I don't consider 90% to be the threshold for "reasonable," but that's just a matter of opinion.

Most of what you say is correct. To be a full-time player with no other income requires enormous reserves, enough to endure a bad year plus pay all of your yearly expenses out of your bankroll, and still have a bankroll. My personal target would be $250K cash on hand, minimum.

However when you have a J-O-B, you don't have to worry about not having a BR anymore or how you are going to pay your expenses. And the best part is, your EV is your EV. Sure, there are the sessions where I get killed, and they are exactly made up for by the ones where the blessings run me down and overtake me, and it doesn't really matter whether it happens this year or next. An AP with an additional source of income can do some amazing things and come back next weekend for some more. Being a weekend warrior raises my standard of living significantly, and same for many other guys in my class.

Now you are speaking of putting in 1000 hours a year, that's about 20 hours a week, how many people with middle-class incomes work 20 hours a week? What are you doing with the other 20-40 hours in a normal American workweek? No free lunch. I suppose it would be fun to be a "weekday warrior" hauling ice or bouncing or sitting behind a desk for a couple of days, then punching the clock, hitting the road and the real job begins.

Maybe that would work for you, if you have inflexible expenses, pay your expenses with a J-O-B and use your AP skills to pay for everything else. Then you can worry less about BR and concentrate more on maximizing EV. I don't see 1-2 NL doing it for you, that's volatile as hell even with your "bulletproof" system and if you are corrupting your game with your opinions and attitudes, well that's already been said, right?
It is always possible, you've got to admit it, AM, that a person could be that perceptive-- just that it's not an ordinary talent to say the least. What I have always noticed with poker (and as hard as I once tried, I discovered that I could never be a champion), is that nearly every poker player that you run into nowadays believes in their heart that they are a world's champion. Maybe it's the kool aid equivalent of watching too much WSOP on cable. I don't know. But I have seen more bankrolls bite the dust in belief that they were somehow anointed to pick everyone else's pocket. I am not at all referring to Syph. I like his style, locksmith on the go, because I know for a fact that such a style will get the money (in modest amounts), but will also begin spinning wheels in short order in any game where there are knowledgeable players. Las Vegas is filled with locals at all the casinos who do nothing but sit around waiting for lock hands, and they won't bet a nickel on anything else. If it weren't for the tourist influx, they'd never make a dime, because no one would ever call them. Like I said before, I know poker well enough to know I will never be a top player, but that doesn't mean I can't eke out a little additional income.
 
#69
aslan said:
It is always possible, you've got to admit it, AM, that a person could be that perceptive-- just that it's not an ordinary talent to say the least. What I have always noticed with poker (and as hard as I once tried, I discovered that I could never be a champion), is that nearly every poker player that you run into nowadays believes in their heart that they are a world's champion. Maybe it's the kool aid equivalent of watching too much WSOP on cable. I don't know. But I have seen more bankrolls bite the dust in belief that they were somehow anointed to pick everyone else's pocket. I am not at all referring to Syph. I like his style, locksmith on the go, because I know for a fact that such a style will get the money (in modest amounts), but will also begin spinning wheels in short order in any game where there are knowledgeable players. Las Vegas is filled with locals at all the casinos who do nothing but sit around waiting for lock hands, and they won't bet a nickel on anything else. If it weren't for the tourist influx, they'd never make a dime, because no one would ever call them. Like I said before, I know poker well enough to know I will never be a top player, but that doesn't mean I can't eke out a little additional income.
It's not possible to only bet on lock hands. You have to bet before you know if you have a lock. NL can screw you when you don't know for sure who you are playing with.

The problem with using perception and appearances to judge a player is that a person with the same skills as you knows what you are looking for and can emulate it. So when you are playing against him he has knowledge (that he's not really a fish) that you don't have, and you know how that is going to end up. If he also has a partner in the game that you don't know about you are a dead duck. Playing against a skilled team in a limit game is deadly.
 

Pelerus

Well-Known Member
#70
Automatic Monkey said:
Syph said:
Auto: I think the term "expect" is tripping you up, if I added "to see" (as in attaining an actual return equivalent to half your expectation) perhaps that would make things more clear for you. And once that is accomplished, you will see that I gave a simple rule of thumb that takes into account your "vary-ance". No calculator needed. As for your non sequitur that finished things off, I'll just write that off as more Monkey weirdness. Something that adds little to the discussion, doesn't follow any of the conversation, but somehow exists nonetheless.
No, I expect to see my EV. When I see more than that, I'm very happy. When I see less, I'm less happy. Each happens about 50% of the time. If you are expecting to see less than your EV, you are miscalculating your EV or malpracticing on your game. One of the benefits of BJ over poker is that your BJ EV is reasonably calculable before you get to the casino, unlike a poker game which will vary from "gold mine" to "you might not beat the rake" and you won't know which until you've played for an hour.

Not trying to be mean or insulting, but if you were expecting to see half of your EV from counting, that might explain why you didn't enjoy your experiences as a counter. You're not talking about the useless metric "certainty equivalent," are you?
Perhaps he is talking about CE (certainty equivalent) or alluding to a similar concept without explicitly calling it that? That would at any rate justify his description of the "rule of thumb" as one that adjusts EV for variance, as well as his earlier estimate of approximately half of EV.

Incidentally, when determining whether or not a trip is justified, I see a lot of players comparing straight EV to trip expenses. However, it is my understanding that CE is the preferable figure for that comparison, since it gives an indication of the guaranteed dollar value that the player would have to be paid to forfeit his EV for the trip. Consequently, since he is giving up guaranteed, actual dollars to make the trip, it doesn't make sense to give up more than his CE in doing so.
 

aslan

Well-Known Member
#71
Automatic Monkey said:
It's not possible to only bet on lock hands. You have to bet before you know if you have a lock. NL can screw you when you don't know for sure who you are playing with.

The problem with using perception and appearances to judge a player is that a person with the same skills as you knows what you are looking for and can emulate it. So when you are playing against him he has knowledge (that he's not really a fish) that you don't have, and you know how that is going to end up. If he also has a partner in the game that you don't know about you are a dead duck. Playing against a skilled team in a limit game is deadly.
Picky picky, AM. You know what I meant-- or maybe you didn't.:eek: What I should have said was players who sit around waiting for pat hands or just as strong. Very tight players. They make their money on tourists.

Someone with a gift for perception, the way I was envisioning it, would perceive the actor, as well. So, now it appears we're talking about the irresistible force and the immovable object, but instead it's the all-penetrating perceiver versus the impervious actor. Whatever, I think their are very talented people who can use their powers of perception to quite an advantage in the game of poker.
 

iCountNTrack

Well-Known Member
#74
Yes the posts were ugly I was also with Sonny in the chatroom most of the afternoon talking about snake oil :) . The best and fastest way is to report the posts(click report post) because we get an email notification on our phones and computers and handle the situation swiftly
 

blackriver

Well-Known Member
#75
Wish id seen it. AM/Syph are both such solid posters.

I think people want blackjack to be more deep than it is. Like most things its conntains a lot of interesting subtlety the more you look at it. But I just see a lot of posts here where people seem to assume everyone else is a moron and any post that could be interpritted two ways is never given the benefit of the doubt. Clearing up abiguity in the name of protecting noobs. Fair, until it gets hostile. always seems like a witch hunt is about to break loose.

To see another good example of people nit picking and seemingly intentionally misinterpritting posts so they can rehash everything they know about blackjack check out the thrad about "does quality ever trump ev?" This might have been an interesting thread 10 years ago, now it just seems like people nitpickfighting over semantics
 

Sonny

Well-Known Member
#76
I believe the proper spelling is nit-pick-fighting. :joker:

But yes, I agree. We are all smart players and we all understand how the game works. Occasional misunderstandings should be expected on an imperfect medium like the internet, but it is nice to resolve them politely. That particular thread dodged a lot of bullets thanks to some very smart and very honest members (some of whom actually admitted that they misunderstood someone else or did not express themselves perfectly!).

-Sonny-
 

RJT

Well-Known Member
#77
Sonny said:
I believe the proper spelling is nit-pick-fighting. :joker:

-Sonny-
I believe the proper spelling is nitt-pik-fietin, you'll agree or this thread becomes all about your lack of scalp hygine.

RJT.
 

Southpaw

Well-Known Member
#78
blackriver said:
To see another good example of people nit picking and seemingly intentionally misinterpritting posts so they can rehash everything they know about blackjack check out the thrad about "does quality ever trump ev?" This might have been an interesting thread 10 years ago, now it just seems like people nitpickfighting over semantics
I'm sorry for ruining yet another great thread.

SP
 

aslan

Well-Known Member
#79
RJT said:
I believe the proper spelling is nitt-pik-fietin, you'll agree or this thread becomes all about your lack of scalp hygine.

RJT.
You are a real "nit" wit, and I mean that sincerely. :grin:

BTW, it's hygiene, not higine.

Also, I do not believe they are necessarily confined to the scalp area, but may also be attached to a fiber of clothing, such as, knits, sometimes called, knit nits.

And lastly, there is a variety about which little is known that attach themselves to hydroelectric projects. They are called dam nits. A nit is the egg or the young of a parasitic insect, such as a louse. A dam nit, or damnit, usually spelled "dammit", can occur spontaneously when someone hits their thumb with a hammer. They can often be heard to exclaim, "Dammit! This lousy hammer!"
 
#80
psyduck said:
Good job, mods! I saw everything you deleted. It was ugly.
I'm sorry that I missed to. My hope is that nothing the Syph or AM posted was
deleted because, with those two, even when they are bad they are good. z:laugh:g
 
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