How much you invest into BJ card counting and why

In Europe, identity checks are compulsory in any casino with the exception of Monte Carlo.
Actually,I meant transferring money to an agency of your own bank which is normally represented in any city harbouring a casino, but not to the casino itself.
I'm quite surprised that in spite of the "war against terror" you still don't have systematic identity checks in the US-casinos.
I always play with my real name,it's only on internet that I use a wrong one.

Francis Salmon

In Switzerland which started to admit casinos only recently there is a similar system but unfortunately with a far lesser transaction limit
(5000 Swiss francs). I'm practising "structuring" systematically without any negative consequences up to now.

Francis Salmon

"...Most of us just have to carry lots of cash, which is very dangerous with airline security and state troopers on the road... everyone looking to confiscate..."

Washington Mutual Savings Bank could be used as a solution to the carrying cash problem. An honest card counter can open a savings account with $30,000 in his home city (i.e., Tunica, Mississippi). He will be able to withdraw his bankroll in another far away city (i.e., Las Vegas, Nevada). This way is better than getting caught with lots of cash & fake IDs at an airport!

I have seen somewhere in my cyber travels that a BR of around 20-30K is really all you need to get the most out of counting. This may or may not be true. Guru's jump in to set thing str8 if you want to. When you play in a team, you play against everyone's BR, not just your own, and that is how I look at my BJ BR. I have money all over the place in true investments, stuck in online casinos, bank accounts, RRSP's, etc I can play against all of that when and if I fly to Vegas or drive over to 8deckville while the rest of my "team" is using the same bank raking up interest, dividends, bonus bucks, etc. I understand that if you play full time you may not want to use casino credit because they can peg you down easier. This is how I look at BJ. Not as an investment, but as a wise choice for a pos EV player.

Funding BJ $$ requirements out of a stock margin account allows BJ capital to continue to earn $$. Winnings are used to buy more stocks. Margin interest is tax deductible. Normally don't go below 20-30% margin to prevent margin calls from losing streaks or from unexpected stock fluctuations.

Conservatively sizing the maximum BJ bet to 1/1000 of total stock equity provides sufficient bankroll and minimizes the impact of fluctuations. 100 Max bet loss represents an additional margin of 10%..

Time spent selecting value stocks is well worth it; would expect portfolio to double in 2 years (or less) during upmarket years such as this one; plenty of values still out there. Selling winners only after qualifying for long-term capital gains minimizes taxes on stock profits.

wc21

much of BR is how we see it fit into the big picture. If you are a pro counter with no other source of income, BR is BR, case closed. But if you are an AP that sees everything as a possible AP/neg situation, the BJ BR is only one of eight tentacled arms floating about catching the benjie fantastic. That big brain attached in the centre does the big balance sheet at the end of the day and goes to bed smiling.

"I'd like to be
Under the sea
In an octapus's garden
In the shade"

commenting mainly on the string John, not to you in particular. Nice to see everyone chiming in with their opinions ideas and experiences.

But you are not as concentrated playing small versus your regular portfolio management job. Anyway, can you share your findings of the similarity between bj card counting with portfolio management? It seems to me bj card counting is too simplt to be apply to the complicated world of "real" investment? Thanks.

I would love to see him do just that. We'll see how long he lasts. Chappy's posts remind me of just why I joined Green Chip.

Some people just can't help themselves from being idiots, I guess.

Regards,
drumz1

Bank of America has branches in most places. Unfortunately none in Louisiana or Mississippi. But it is still workable. However, this is still for when initial cash supplies are depleated. Enough to get through the first few sessions of a trip without a high probability of tapping out is what I still carry in cash as a practical matter. It would simply be too much time expense running to the bank all the time. Also, you generally have to give a bank a few days notice to withdraw large amounts of cash. They are not like casinos that always have tens of thousands readily available.

Based on your comments to day, it's pretty clear, at least to me, that you didn't get it. My suggestion to you would be to read up on portfolio attribution.