What's the most graceful way to get out of this business? I could put my bankroll into investments or something, but I don't know what to do. A year of hitting the tables hard is tough to stop but but the backoffs are a drag.
1 - Take up poker.
2 - Take up video poker.
3 - Take up Pai-Gow poker.
4 - Take up sports betting.
5 - Write a book about blackjack.
6 - Move to Montana and get a job as a high school Math Teacher.
7 - Get a job dealing.
8 - Become a regular Joe.
Whatever you do, you MUST go out with a bang. Hit up all the casinos you can one last time with a whopping 1-100 spread until they boot you out the door. Maybe that doesn't qualify as graceful, but hey, it would make for a great story.
Income is tax free.
What's the best tax free bond with fairly easy liquidity ?Best temporary parking place I know of is Ingdirect.com. (pays 4%; any amount; 2 days to trf back to your local checking acct) This is FDIC insured MMA.
hello Road Warrior:
Only you can answer that question...What is most important to you?...Take some time to figure it out and head in that direction.
Hello Roadwarrior:
I hope you don't take anonymouse's advice about hitting them on a 100 to 1 spread...If that one unit is $10. then the 100 units is $1000...From Stanford Wong's, Professional Blackjack book, you should have as your available bankroll, 150 times your largest bet which would be $150,000. to cover the standard deviations.
Even if you have this total, you could find yourself in a deep negative standard deviation, and when the cards start to turn your way, find yourself barred as a card counter.
Negative attitude???..Absolutely not...The reality of a healthy positive attitude, is the capacity to look at everything that could possibly go wrong, and then choose the best method of avoiding failure and increasing your chances for success.
Good skill and good luck.
"Hit up all the casinos you can one last time with a whopping 1-100 spread until they boot you out the door. Maybe that doesn't qualify as graceful, but hey, it would make for a great story."
After this kind of blitz he may not have to decide how to get out of the business,he could already be there.
stick your money in coca cola in the low 40's,collect your 2% dividend and have a good stress free life.
abandon all cover, spread like hell and make the rounds. Go back to all places where you've been backed off, and keep it up until you've been 86d from all worthwhile properties. Then get out. I do know how you feel. But when you give it up do so because you actually don't have places to play rather than because of the mental stress and nastiness of backoffs and the threat of backoffs.
We have all given up some of our expectation for a little longevity. If you quit before you are actually barred from the property then most of the money you gave up went to waste. Go have some fun now and don't worry about getting the boot. In three years you'll be able to come back if you want without any problem.
is less risk, not more. It generally means that you are dropping your small bet to a much lower level rather than using an artificially high unit for cover.
Table min to 3x Table max. No discretion. Release the hounds. Like DD' says, you've paid for that longevity, use it for everything it's worth.
Hell, I'd even burn out the shitty properties. Wouldn't it be fun to wong into a game at the Barbary Coast for 3 spots at the table max? So what if you'd last 15 minutes. You'd stain their collective underwear.
One last thing: You've spent so long, as a high-stakes pro, stuffing your ego into a trunk and shutting it up to give you longevity. In your farewell tour, let the poor guy out to play with everyone. Play at a table with a handful of young impressionable women and let them ooh and aah as you pull out the big chips. When you jack your bet to the table max and get a blackjack, snicker as you put out a table minimum bet. Split tens against a 5 with a crowd watching.
and above all else, if a ploppy lips you off, let him have it!
M.
If you're currently on a swing into the black, take every penny you're willing to sit on for a year or so and split it up thusly:
50% in JDS Uniphase (JDSU)
20% in EMC (AMD)
20% in Macromedia (MACR)
10% in AMD (AMD)
Play BJ for nickels and drink free booze.
Oh.... Don't make me say "I told you so".
If you have enough money to live a good life on a 2% return. It would only take about 3 million.
coke will go up a year.i didnt say he could quit his job.he wanted to know where to put his bj bankroll-not retire off it.
the sob's changed it to 6 decks.they are taking all skill out of tournaments.how can you sweat a tournament.luckily i was comped the entry.i might just throw it all up on the first hand and parlay my way to 25,000.
Hello DD'
In my example, the low bet is $10...You can go down to $5. if you like and then the available bankroll is cut in half down to $75,000...But the other problems are still there.
The way I understand it, you should play at the lowest minimum table that will allow you to adhere to the constraints of your available bankroll...Starting with a high bet for cover, sounds like you will be undercapitalized to deal with any violent standard deviation that you might have to deal with.
The way I understand it, you should play at the lowest minimum table that will allow you to adhere to the constraints of your available bankroll...
Not really. There are many considerations in deciding on what table to play. $5 & $10 tables very rarely offer the best opportunities. Sometimes rules and numbers of decks are better at the higher limits. But more frequently the game is just better at higher limits because of fewer players.
Starting with a high bet for cover,sounds like you will be undercapitalized to deal with any violent standard deviation that
you might have to deal with.
That is the nature of cover. It is not starting out with a "high" bet (a relative term). A small spread generally means starting with "bigger" fraction of your big bet. A small spread is essentially a cover tactic. You should be sufficiently capitalized, but what you do with cover is decrease your win rate and increase your risk in order to make your advantage play look less obvious. With a top bet of 2 hands of $1200 I might generally have a minimum of $100 or even 2@ $100. But if I decided to really push it I might boldly use a single bet of $25 as a waiting bet. This is something that cover considerations generally do not allow. But this bigger spread will increase my win rate because I'll have less in action at negative ev counts and decrease my risk as well. But if I sit at $5 & $10 tables my rounds per hour will probaby be cut in half and the table limits may not accomodate my max bets.
This guy may have a top bet of $500. If he's been playing for a living it is probably not much smaller than that, certainly. Such a player may normally have a $25 or $50 minimum. You would not normally find such a player at a $5 or $10 table. But if he really wanted to push it with a 1:100 spread, he might start table hopping with $5 bets and then start pushing the big money out when he hit a hot shoe.
