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Thread: JalHampsen: 2%?

  1. #1
    JalHampsen
    Guest

    JalHampsen: 2%?

    Hi. I'm very new to CC, so my question may be very basic. How can counting be profitable with only a 2% edge over the casino? I'm assuming that would mean if you have $50K as a bankroll you'd only make a grand off it. That's a pretty crappy ROI. But, I know I'm missing something here. Can any one be kind enough and help me understand this?

  2. #2
    Don Schlesinger
    Guest

    Don Schlesinger: Re: 2%?

    > Hi. I'm very new to CC, so my question may be very
    > basic. How can counting be profitable with only a 2%
    > edge over the casino?

    That's rather high. It's more like 1%. :-)

    > I'm assuming that would mean if
    > you have $50K as a bankroll you'd only make a grand
    > off it.

    You're assumption is very wrong. :-)

    > That's a pretty crappy ROI. But, I know I'm
    > missing something here.

    You certainly are.

    > Can anyone be kind enough and help me understand this?

    Suppose you have a $50K bankroll, and you take half of it to Las Vegas for, say, a week. Suppose you spread 16 to 1 so that your top bet is $800 and your unit is $50. Your average bet is about $150 per hand, and you play 100 hands per hour, five hours per day.

    At the end of the week, you have wagered ... more than a half million dollars!! ($525,000, to be exact). Your 1% edge operates on that $525,000, not on your $50,000 bankroll. Get the idea? :-)

    Do this four times a year, and you've wagered in excess of $2 million. And, one percent of that is $20,000, which is a 40% annual return on your $50K bank. And, you might never have to invade the $25K that you leave at home, to take the trips, so that, if you're lucky, half the bankroll can be earning interest in the bank, and the $20K return is really on the $25K, which is an 80% return!

    Finally, even that $25K is only at risk four weeks a year, so, it, too, can remain in the bank most of the time.

    Sound better now? :-)

    Don

  3. #3
    JalHampsen
    Guest

    JalHampsen: Re: 2%?

    Thanks for setting me straight, Don. I knew something didn't add up, so to speak.

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