Hourly EV for a 5 dollar player

#1
I know, it depends on Pen, rules, how many players at the table, indexes, bet spread etc.
Short answer short question: what is the hourly EV for a 5 dollar player in a mediocre 6 deck game using a 1 to 12 spread?
 

KewlJ

Well-Known Member
#3
Splittingten's said:
Short answer short question: what is the hourly EV for a 5 dollar player in a mediocre 6 deck game using a 1 to 12 spread?
Can you afford a 1-12 spread @ $5? That is a $60 max bet. Just using the old 100 max bet rule, that would require $6000 to play safely (small RoR).
 
#4
Nope, I can't afford it. Maybe when I was living with my Mommy and before I pissed off a ton of money in Vegas. I mean, I still have 6K if I were to liquidate my assets but lets be honest, I'm not going to end up losing 3k I'm not going to be like "OK time to gamble the money I have saved up for that car I really need. " Yeah, that's just not going to happen.
I'm woefully under rolled with the money I am willing to risk and I probably shouldn't be gambling it in the first place to be honest. Desperate people do desperate things though.
I'll let ya know how it goes, buddy
 

KewlJ

Well-Known Member
#5
I just don't know what to do with you. First, I can't figure out what your story really is, because it has been pretty inconsistent to say the least. Are you really in vegas now? Where are you sleeping?

The smartest thing you have said throughout this whole ordeal is "I probably shouldn't be gambling in the first place to be honest". This is what several of us said last week. I know I feel like if I help you at all, offer any suggestions in regard to gambling, where you might play, ect, that I would be encouraging you to do something you are ill equipped to do, knowledge-wise, financially, emotionally and have little chance at succeeding. I am quite sure that's why others aren't at least offering some suggestions of things like where you might play for the exact same reason. BUT, on the other hand, if you are going to do this anyway, I feel like maybe I should offer what advice I can, to give you the best chance. I honestly don't know. I will have to sleep on it. I hope you have a place to sleep as well.
 
#6
Don't lose sleep. I'm going to be okay. Get some rest if you can. I know how hard it is for you.
I'm regards to my ability to beat the gane, I know I can. I know I'm under rolled. I know the Kelly Criterion. I know over 20 indexes for the game I'm playing. I know running count, true count conversion. My deck estimation is good. I am generating EV playing the game. It's a good game too with good pen.
 
#8
I was thinking the same thing. 9 sounds about right. 13 is probably acheivable in a game with better rules though. When you ran your simulation on BJRM what rules did you use and how many hands did BJRM assume were played each hour?
 

stopgambling

Well-Known Member
#9
Only wonging can give you a decent shot at it. Only use what you can lose for the month if you are under fund . If you are tap out just wait for next month's money. Eventually you should get an upswing that will put you in somewhat better position to play. i would definitely try to do at least $30 to $50 an hour with a hail mary bankroll. Every month gives you a chance to do it.
 

KewlJ

Well-Known Member
#10
stopgambling said:
If you are tap out just wait for next month's money.

Every month gives you a chance to do it.
Did I miss something here? Split10's has money coming in each month? :confused: If that's the case, I would secure a place to live first, before anything /everything else. But that's just me. :rolleyes:
 

Meistro

Well-Known Member
#12
I'm telling you, washing dishes is the way to go. They will hire anyone. Just show up at restaurants between 2 and 4 monday through thursday and ask to speak to back of house management. Talk to like 4 or 5 different restaurants and someone will probably hire you on the spot. Bring a typed resume with contact info.
 

Meistro

Well-Known Member
#14
It's important to appreciate when considering whether you should work or play blackjack that your hourly rate isn't really as good as an hourly rate from a job, because you must experience variance to earn it. Then again, there is probably less disutility of labour involved with sitting at the blackjack table than with most entry level work... although it might depend on how hostile the ploppies are that day.
 
#15
Meistro said:
It's important to appreciate when considering whether you should work or play blackjack that your hourly rate isn't really as good as an hourly rate from a job, because you must experience variance to earn it. Then again, there is probably less disutility of labour involved with sitting at the blackjack table than with most entry level work... although it might depend on how hostile the ploppies are that day.
Blackjack has no health, dental, vision, life insurance, or unemployment benefits. I had all of these benefits with my job plus I had 29 days of paid vacation 2 personal holidays plus the usual regular holidays and in theory unlimited sick leave.
 

Meistro

Well-Known Member
#16
That's a good point. I'm a strong advocate of people pursuing advantage gambling as a part time job instead of a full time occupation.
 

KewlJ

Well-Known Member
#17
I also believe blackjack card counting AP works best as a part-time or supplemental income, or maybe something like supplementing a retirement income. And for a fulltime AP, best scenario is to have a spouse or partner with a good solid income and benefits (especially medical).

And speaking of medical, I think I am uniquely qualified to discuss what a full-time AP goes through mentally when he experiences a major medical event. This is the second time in 6 years that a major medical event has shut me down for roughly a quarter of the year. There are two aspects to this. One is the obvious fact that unlike a traditional job, when we (AP's) don't work or aren't able to work, there is no money coming in. There is no paid medical leave or vacation days that you can take.

The second is that in addition to no money coming in, medical bills start rolling in. Buying private medical coverage is costly, and most people that have private medical have somewhat significant out of pocket costs to keep the price of insurance down. So when the medical bills start rolling in, it is sort of a double hit....no money coming in and high medical expenses going out. Mentally this can create extra stress, which is the last thing you need when trying to recover from any major medical event.

My first go round with a major medical event six years ago, I was still building my bankroll and basically had no savings. So in that situation, no money coming in for several months, while medical expenses roll in, make it seem like your bankroll is hemorrhaging. Luckily for me, I am in a much stronger financial situation today (my second go around) than I was 6 years ago. This has allowed me to focus on what I should be focused on, growing stronger and making a full recovery.
 
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