Losing is bad enough, but losing at a fast
clip really stinks
June 12, 2009
Dear Mark: Do you
have any suggestions on how I can slow down the
pace of losing? I typically play dollar slots
with a bankroll of around $75 per visit. Martha
N.
Taking note, Martha, that your letter comes from
the Chicagoland area, I thought I would share
that recently I was in Chicago to take in a Cubs
game, the Blue Man Group, and to check out the
local casino action.
The scalper’s price for a terrace reserved
ticket to a sold-out Cubs game was $75, the Blue
Man Group ticket was $64 (Okay, for me it was a
freebie, being that my son is a Blue Man, but
we’re talking math here.), and I allotted $100
for a quick stop to check out the Blue Chip
Casino in Michigan City. The point I’m making
here, Martha, is that all three forms of
entertainment allow for a certain amount of
“seat time” in exchange for your hard-earned
dollars.
With the baseball game and the Blue Man Group,
you get a couple hours of assured hip hip hooray
or hilarity for a specific amount of money. One
thing you cannot get in a casino is that same
guarantee.
So, Martha, I’m figuring you’ve got a few
options here. Do you like baseball? Loud drum
beating? All-righty then, let’s stick with
gambling as your leisure-time diversion.
First, Martha, learn to play at your own pace.
Your money will last longer if you ease off the
spin button. Other games, like blackjack for
instance, dictate the speed of play, but in
slots you can, and should, be playing at a
leisurely tempo.
Play one dollar (credit) at a time on a Straight
Multiplier machine. A straight multiplier, or
“equal distribution” machine, usually has one
pay line and pays according to the number of
coins you play. For instance, if you hit the
jackpot having played one coin, the machine will
pay 250 coins, but if you had played two coins,
you'd have won 500 coins, three coins, 750, four
1,000 and five coins, 1,250.
Playing the full coin amount on machines of this
type is an unnecessary expenditure, because the
average return never changes based on the number
of coins played. When you play one coin on these
machines, you're playing at the maximum payback
and hit frequency, with the lowest risk per
spin. And what’s more, playing a straight
multiplier keeps you in action longer by doling
out more low-end jackpots.
The main reason, Martha, I am recommending a
straight multiplier machine is that I don’t
believe the amount you are probably betting per
spin is appropriate for your $75 bankroll.
You are most likely are playing a “bonus
multiplier” slot machine, a machine that tacks
on an additional amount of money (a bonus) to
the jackpot if you've played the maximum number
of coins. You are in all probability risking $3
per spin, and for octane of that level, I'd like
to see you start with at least a $150 kitty to
be able to fund at least 50 spins.
And yet, even with a $150 bankroll you could hit
a cold spell from hell and your wad could all be
gone before the Cubs bat in the first inning,
which leads me to a final tip.
I’m recommending that you drop down in
denomination. If you cannot afford to play the
maximum amount of coins, or at least have a
50-100 spin bankroll, you should not be playing
on a machine of that denomination.
Dollar slots seem to me a little over-rich for
your bankroll, so amuse yourself on a quarter
machine. You’ll have longer staying power and
get better value by playing three quarters per
spin versus three dollars a pop.
Gambling Wisdom of the Week: "Good
poker skills are acquired after many years of
experience. Experience is acquired after many
years of bad poker skills." VP Pappy
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