Dear Mark,
When my husband and I shoot a night with the casino slots,
we use different strategies. His is to follow his "feelings"
or "educated hunches" and bet heavily when he feels
he's due to hit a big one.
My system depends less on clairvoyance: I arrive with the
money I can afford to risk in my jeans' right pocket and with
nothing in the left. Winnings go in the left pocket and are
never seen again until we're home. When my right pocket is
empty, I quit.
Is there any way to compare mathematically the worth of our
two systems? It is not very convincing to point out that I
am ahead of the game and he's behind, because of the relatively
small sample represented by the few events in our gambling
life. Patty T. Right off, Patty, let's
trash your use of the word "systems." That word
has a special meaning in gambling circles, and probably
without knowing it, you¹ve touched a sensitive semantics
nerve.
Casino operators don't spend big bucks building mega-resorts
so that some "system player" can come in and tar-n-feather
them. Any casino owner alive would happily send the limousine
for a system player with a certified bankroll. Henceforward,
let's beware of using word "systems."
Secondly, as for whether you or hubby has the better mathematical
chance of hitting it big playing slots, the answer is neither.
As explained in past columns, each spin on a slot machine
is an independent event based on the random number generator
(RGN). With each machine possessing an RGN, the probability
of hitting a jackpot is the same for each spin. Your husband
stands the same chance of losing (winning) as you do.
The only true skill to playing slots is machine identification.
For example: progressive machines practically invite players
to compare and shop around for the best value. One 25 cent
"slot machine carousel" can have a progressive
jackpot of $2600 and another bank of machines‹exactly
the same and standing side by side‹a $1900 jackpot.
You should always track down the best slot opportunities
possible.
A close cousin to that skill is the "tiger hunt,"
very handy when casinos advertise machines with a 98.5%
payback. But it¹s your responsibility to find them:
such advertisements usually say, in fine or pale print,
"on select machines." Since all big cats look
alike in tall grass, they can be a tough find. They are
likely limited to a single bank of machines somewhere in
the casino. The easiest way to hunt down and tag these beauties
is to ask a slot employee. If he or she does not know, have
one of them ask a direct supervisor.
So, Patty, what smart strategies (not systems) are you applying
that your chosen in marriage and other gambles is not? For
starters, you never gamble with money you cannot afford
to lose. There is no more powerful generalship in all of
gambling than those words, so I will repeat them. YOU NEVER
GAMBLE WITH MONEY YOU CANNOT AFFORD TO LOSE.
You also seem to have more discipline than your spouse does,
and discipline, Patty, is not only a significant part of
being a successful gambler, but probably the most important
element of money management. I applaud your money management
acumen in setting loss limits and win goals.
As a frisky addendum to your pocket-shifting modus operandi,
you might try setting a goal of winning between 50 to 100%
of a single-session bankroll. At that point, set aside your
original bankroll plus half your winnings. Now play with
the remainder, and continue to set aside additional winnings.
When losing half your session bankroll (loss limits) you
walk, and when doubling your money (win goals), you strongly
consider doing the same.
Finally, Patty, I would be remiss if I did not mention that
money management will not affect the house advantage, nor
guarantee that you will win. The house has an advantage
that is immune to even smart money management techniques
like yours. If you play at any casino game long enough,
you will lose. But what good money management principles
can do for you, Patty, is to minimize your losses and in
most cases protect your winnings. |