Session vs Overall RoR
- Thread starter assume_R
- Start date
- Tags risk of ruin
Bingo
Blackjack is a see saw game of wild roller coaster ride fluctuations that are leveled out by thousands and thousands of hands being played. Read further about LIFETIME ROR also. There was a great article on another site, Wong or Snyder's, I can't recall which is about the need to increase your bankroll just to maintain a steady and level lifetime ROR. It was interesting and informative.
"Patience is a virtue"? In these modern times, we live in an "instant gratification" society... we want it ALL and we want it NOW! Instant communications, instant foods, instant functions of so many wonderful technological advances. Instant great bodies even! Infomercials that offer "instant great abs, no work or exercise! Just send us three easy payments of $19.95 and you're all set! No work, no hassle... you can be a lazy slob but as long as you send us $19.95..." The infomercial comes out offering "20 minute abs". Then a month later a NEW infomercial denouncing having to devote a whole 20 minutes to exercise comes out and promises "10 minute abs no hard work or exercise" Oh HELL! 10 minutes LESS? More laziness but still look like a swimsuit model instead of a 300 lb. wildebeast that my husband can't take me to the beach in summer for fear I will be pushed back out to sea? We are used to this and acclimated to it... we love our instant gratifications. That is all well and good except for when it comes to blackjack!
Casinos use this as a tool to their advantage. Impatience, greed and desperation are a blackjack player's worst enemies causing many players to take unwarranted risks that put your ROR off the chart. I have seen it first hand, I have read about it on here and have seen enough to never allow myself to lose my cool to the point of stupid risks that elevate ROR to unacceptable levels. Replenishable vs. nonreplenishable bankroll comes into question here and has been talked about at length on here. Huge swings occur that defy logic or sims also! It happens!
Years ago when I had a "replenishable" bankroll, a 10-15% ROR was quite acceptable for the amount of money that I designated as blackjack bankroll funds. Upon switching to playing full time with more of a "nonreplenishable" bankroll I play much differently with no more than a 5% ROR, anything beyond that is unacceptable risk. There is a world of difference between these two, replenishable and nonreplenishable with regard to lifetime ROR. With 10,000 to work with, you have no choice but to operate at a higher ROR. 20% ROR is really going out on a limb, so I hope you have a very replenishable bankroll.
Blackjack is a see saw game of wild roller coaster ride fluctuations that are leveled out by thousands and thousands of hands being played. Read further about LIFETIME ROR also. There was a great article on another site, Wong or Snyder's, I can't recall which is about the need to increase your bankroll just to maintain a steady and level lifetime ROR. It was interesting and informative.
"Patience is a virtue"? In these modern times, we live in an "instant gratification" society... we want it ALL and we want it NOW! Instant communications, instant foods, instant functions of so many wonderful technological advances. Instant great bodies even! Infomercials that offer "instant great abs, no work or exercise! Just send us three easy payments of $19.95 and you're all set! No work, no hassle... you can be a lazy slob but as long as you send us $19.95..." The infomercial comes out offering "20 minute abs". Then a month later a NEW infomercial denouncing having to devote a whole 20 minutes to exercise comes out and promises "10 minute abs no hard work or exercise" Oh HELL! 10 minutes LESS? More laziness but still look like a swimsuit model instead of a 300 lb. wildebeast that my husband can't take me to the beach in summer for fear I will be pushed back out to sea? We are used to this and acclimated to it... we love our instant gratifications. That is all well and good except for when it comes to blackjack!
Casinos use this as a tool to their advantage. Impatience, greed and desperation are a blackjack player's worst enemies causing many players to take unwarranted risks that put your ROR off the chart. I have seen it first hand, I have read about it on here and have seen enough to never allow myself to lose my cool to the point of stupid risks that elevate ROR to unacceptable levels. Replenishable vs. nonreplenishable bankroll comes into question here and has been talked about at length on here. Huge swings occur that defy logic or sims also! It happens!
Years ago when I had a "replenishable" bankroll, a 10-15% ROR was quite acceptable for the amount of money that I designated as blackjack bankroll funds. Upon switching to playing full time with more of a "nonreplenishable" bankroll I play much differently with no more than a 5% ROR, anything beyond that is unacceptable risk. There is a world of difference between these two, replenishable and nonreplenishable with regard to lifetime ROR. With 10,000 to work with, you have no choice but to operate at a higher ROR. 20% ROR is really going out on a limb, so I hope you have a very replenishable bankroll.
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Thank you for your response, Tarzan. I always enjoy reading your posts on here.
That said, I hope that because of my question you don't think that I am unwilling to put in the hard work, I don't have the patience, or that I don't understand the variance that will inevitably occur. I do, and very much agree with your commentary on the "get _____ quick" schemes and mentality that most people subscribe to these days.
I will look for that article you mentioned, I am working on making sure my bankroll is replenishable, and I kind of just chose that 20% number randomly - I still would be curious about the mathematics if those numbers in my question happened to be 3% and 10% respectively, instead of 20% and 70%
That said, I hope that because of my question you don't think that I am unwilling to put in the hard work, I don't have the patience, or that I don't understand the variance that will inevitably occur. I do, and very much agree with your commentary on the "get _____ quick" schemes and mentality that most people subscribe to these days.
I will look for that article you mentioned, I am working on making sure my bankroll is replenishable, and I kind of just chose that 20% number randomly - I still would be curious about the mathematics if those numbers in my question happened to be 3% and 10% respectively, instead of 20% and 70%
Wouldn't 5% RoR be way too high with a non replenishable BR, Tarzan? That's a 1 in 20 chance of tapping out and if it's really non replenishable, you would be screwed? no? I am currently playing with between a 1-2% non replenishable BR and to be honest feel that too risky and am trying to get it down below 1%. I noticed you said 'more of a nonreplenishable BR' rather than 'completely nonreplenishable BR'. Maybe that is the difference.
I think that's kind of an answer to my question. I was curious about the likelihood of losing $3000 of my $10,000, not going down to $3000, so I think your response answers that.
So then a sim's RoR with a $3000 bankroll is the chance that I'd lose $3000 at some point in my career, regardless of what my total bankroll is, correct?
So then a sim's RoR with a $3000 bankroll is the chance that I'd lose $3000 at some point in my career, regardless of what my total bankroll is, correct?
