Win/Loss-stop

[Allenfromasia]

Hi all,

I am quite new to blackjack and it was until recently that I started to search materials on the net. Fortunately I found this site which provides huge sourse of infos about almost all aspect of bj. Thanks to you all.

The nearest town to where I live which has casinos is Macau, where all blackjack tables are using continuous shuffle machines. As I understand from the previous postings, I even dont need to bother practising counting. After all, flying to U.S. to find a "beatable" table is not yet realistic for me at this moment.

So...it seems to me that what I could do is to get a better grasp of BS and leave the remaining to luck, or streaks.

Some of you guys mentioned that set and stick to a Win/Loss stop level might be helpful inproving one's long-term performance. I am wondering how do you set your Win/Loss stop level, if any?

If you are also playing with those damn machines, or even, also placing flat bets like me, please share what do you guys think of setting these lines in terms of your betting units?

Thanks a lot

 

[Mikeaber]

I'll take a stab at this one Allen. I play primarily BS. When playing this way, I pretty much flat bet but will increase my wagers during the sessions. There is not particular rhyme or reason as to "why" I increase them...certainly nothing to do with the way the cards are falling. It's more about greed.

For instance, I usually try to go into a session with a minimum of 40 units as a Bankroll. When that's gone....it's over. I'll go play Video Poker or something. But if I get ahead by 20 units, I'll consider doubling my bet until I loose that 20 units. At that time, I drop back to the 1-unit bet. At each 20 unit increase in winnings, I'll up my bet by another unit.

I do not really set a Win limit any more. That really hasn't been a factor <LOL>. I've never really understood why anyone would leave a table or quit just because they had won a predetermined amount while playing Basic Strategy. Now, if I started loosing, I might consider leaving early!

You see, I do not go into a casino with the sole purpose of breaking the bank. I go there to enjoy the atmosphere, the game and of course the challenge of winning a little. But the main objective is to survive for as long as possible...usually much longer for a session than most folks here on the forum would consider playing. I might play for 10 to 16 hours at a time.

Now, when I'm counting....it's different. Much larger bankroll and much shorter sessions! Because of the variance of the game and the varying sizes of the bets, I might set some win-limit....or might just decide to call it quits because of mental fatigue.

 

[Allenfromasia]

Thanks for the sharing, Mike.

I think people set their win limits for a reason. The situation is quite different when you count vs when you dont. When you count cards you simply wait for an acceptable count with which you could increase your bets to seize the largest profit. Before the count goes high enough you just place a minimal bet or things like that. Hopefully the money you make with high count and larger bets could cover the previous losses, if any. So as you said, you leave just because you are mentally or physically tired after hours of high level of concentrating.
But if you dont count, the edge is on the casino side. The longer you stay, more money you will lose. So the rationale behind setting a win limit is that: Its quite lucky for a winning streak to come first, so why should I wait for the oppsite one to come?

 

[Mikeaber]

Quite true Allen....if you are playing for profit. If you are playing for the entertainment value of the session, then the longer you play, the more you have accomplished your goal.

Obviously, I am not a professional gambler. Gambling is entertainment for me. My goals are different than most who post here on the forum. My primary goal is survival on the Bankroll I start out with. If I loose it, I'm disappointed but do not consider it failure if I played for a long time on it and had fun doing it.

My secondary goal is of course to win. More often than not I'll play forever and come close to even. This past weekend I played with a $200 bankroll for 19 hours over two days and two casinos. When I left, I had $200. To me, that was a successful trip.

If I were playing to make a profit, I would have played on different tables (higher minimums) and bet much differently!

Believe me, I'm in a minority on this forum <LOL> Maybe I should get me a hat made stating in bold letters..."PLOPPIE".

Thanks for the sharing, Mike.

I think people set their win limits for a reason. The situation is quite different when you count vs when you dont. When you count cards you simply wait for an acceptable count with which you could increase your bets to seize the largest profit. Before the count goes high enough you just place a minimal bet or things like that. Hopefully the money you make with high count and larger bets could cover the previous losses, if any. So as you said, you leave just because you are mentally or physically tired after hours of high level of concentrating.
But if you dont count, the edge is on the casino side. The longer you stay, more money you will lose. So the rationale behind setting a win limit is that: Its quite lucky for a winning streak to come first, so why should I wait for the oppsite one to come?

 

[SweetAxtion]

.

I do not really set a Win limit any more. That really hasn't been a factor <LOL>. I've never really understood why anyone would leave a table or quit just because they had won a predetermined amount while playing Basic Strategy.

For myself I usually have a set predetermined amount that I wish to win that evening. Usually it ranges from $500-1000 per session. In unit terms this usually translates into 1-2 units for the evening.

Once I hit this point, I usually have anywhere from 1-3 "extra" units from which I play to make more money with. By keeping the 1-2 units tucked away I pretty much guarantee that I am going home with money.

Now lest one think that I may be going home while a "win streak" is around the corner the "extra" units I have left are what that is for.

By employing this money management and discipline I've managed to make $173,000 (7,000 of this is for my friends who "bought in" so to speak) in my last 112 sessions.

I actually don't play for "fun" per se anymore but play primarily to make money. Then again, I'm limited by my time in the casino as I would catch it surely from my wife if I spent more than 2hrs away from the family.

As for a stop loss limit...I also have a predetermined amount that I am willing to lose that session. The difference is that I don't really vary my unit bet to reflect what I may have left. In other words if I'm betting $500 dollar chips with a 15k bankroll (with me at the time), I'm still betting $500 dollar units with 5k remaining. That way I either go home fast (because I've lost), or I go home fast (because I've recovered). Either way it means that I don't spend too much time at the casino.

However, if you playing to have fun...playing BS is your ticket and flat betting can have you playing for hours before you lose your bankroll entirely.

In the end whether playing to "make money" or for fun, your experience will be more enjoyable if you have realistic expectations and don't overplay what you have imagined in your mind before playing your first hand.