General Money Mgt.

[RavenSlay3r]

Someone suggested the following money-mgt scheme for a casual night in the casino to me.

-Start with your bankroll in one pocket (eg. left)
- Every time you win a bet puts 1/2 of the winnings in each of your pockets (left/right)
- When the left pocket runs out your done.
- Only make bets out of the left(original source) pocket.

Has anyone tried this before, know if it has a name, or know the math behind it? My friend says it has worked well for him, usually bringing him out even or ahead if he plays long enough..

Obviously it won't make you money on it's own but maybe it's a good mgt strategy if you don't know when to stop?

Thanks,
Raven

 

[rookie789]

When to Stop

Raven this system is probably as good as a glass of orange juice in liew of sex, you need disipline not 2 pockets as a crutch.

 

[Mikeaber]

Raven, I haven't really thought about the way the method you proposed would work out mathematically, but right off the bat, I see it as very ackward in practice. For one thing, how are you going to split winnings? Ask the dealer for check change? I guess that if you were playing for an even number you could ask for payout in lesser denominations.

Lets say you are in a win/loose/win/loose type scenario. You are flat betting $5 each time and start out with $25 BR. After the first two hand cycle, your original stack is depleted by $2.50 even though overall, you are dead even. I think that after 16 hands (winning alternating hands) you are going be down to $2.50 in your original stack and will be leaving the table yet you will be even for the session. Is that what you are after?

You are on the right track though. You should have some money management in mind when you sit down....either that, or you will be going for broke each time you play. Discipline in my opinion is critical if you play a lot of Blackjack. Either that or you need to have enough money that it doesn't matter whether you win or loose.

 

[wmr]

Money management

Raven, I was taught that when I lost 50% of my bankroll it was time to quit or move to another table. My money management scheme is based on that. If I enter with $100, I split it into 2 piles of $50 each. Each time I win I put the winnings in the untouched pile and just play with the other. When that pile of chips is gone I quit. I usually walk away ahead but I never lose more than 50% of my original bankroll. This has worked well for me.

 

[BJStanko]

Do not go to play without some nice bankroll.
I think everybody is able to save at least $ 2000 in a year.
While you are saving learn perfect basic strategy and simple counting system Hi-LO

if your bankroll is $2000
session bankroll should be about $300
As long as you have an edge play. when you lose big time or don't have an edge just leave.

 

[lagavulin62]

raven,

the whole point is to insure that you retain some of your winnings, whether or not they become profits when you are finished. by not taking all your winnings, putting some back in the pot you are operating on a similar strategy used in stocks, which you may have heard as "let your profits run, cut your losses short". but as everyone has said, discipline, not your pockets, is the key to this.

lets say you start with 100 dollars. right off the bat you win 20 dollars. you keep 10 and put 10 back in the pot. now your playing pot is 110 and even if you bust out with the 110 you still leave with 10 dollars of your original bankroll. nothing to get excited about, you still lost 90 of your original bankroll but it's better than 100. (I know, he really lost 110 but just trying to make a point) this is what we mean by cutting your losses short, by keeping a portion of your winnings you have now insured that you will not lose what you came in with but at the same time we are allowing our profits to run because you are now playing with a larger bankroll than you came in with so now your chances of making a profit are improved. you can see what happens if you keep winning........ the more practical way to do this is keep all your money on the table and put the appropriate amount in one of your pockets from time to time. (which pocket you choose makes no difference, as long as it's not your girlfriends)

 

[BAMA21]

When my wife is with me at the table she makes me do something like this. Whenever my stack grows a little, she'll take a few chips and rathole them for me. Once she has my original buy-in stashed away, she no longer cares what I do. Anything I walk away with is pure profit then.

 

[RavenSlay3r]

wether you use pockets, separate piles on the table, separate girl-friends, or tupperware containers doesn't really matter. I was really more intrested in the mathmatical outcome than the symantics of it.

Anyways, it seemed like an intresting rule.. I guess if you stop your just prolonging the outcome of your next hand till the next trip right?

Thanks all for the comments!