r.o.r = Risk Of Ruin
Originally Posted by mike818
"ROR" is the "Risk of Ruin". In gaming terms, it is the probability of doubling a bankroll before losing it.
http://wizardofodds.com/games/blackjack/appendix/12/
http://en.wikipedia.org/wiki/Risk_of_ruin
There are a lot of more Senior Members here (with decades of experience) which could explain the concept more clearly.
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Buy PBJ and BJA3 at half.com or Amazon. Then, save your money. And put those $400, $300 into a "war chest". In the meantime, read those books, ask questions here, and practice hard before going back.
The more often you get yourself "wounded", the harder it is to fight well, and the harder to take emotion, fear and greed from taking over.
Good Luck, dude!
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Last edited by Math Demon; 07-15-2013 at 10:23 PM. Reason: BJA3 instead of BJA2
Are you sure?
How can you study a counting system for 5 years and not know when to ramp your bets, when to take insurance or what the 16vT index is? Those are the very basics. There are a lot of very good, knowledgeable counters and APs here, but if you're not honest with them (and more importantly, yourself), you're not going to get the help you need.
I haven't studied for 5 years, but without asking the questions, I could answer them myself extremely easily, either the book answer or a sim answer. Why is it that I can do this and you can't? I don't think I'm special. I just paid attention to what I studied. If you intend to put your money down on this, I suggest that you do the same.
ROR (Risk Of Ruin) is the chance you lose your bankroll compared to doubling it. ie: If your ROR is 10%, then you have a 10% chance of losing your BR before you double it.
I would not enter a shoe if I didn't have the funds for 20 max bets. When you're going "all in", and have no more funds, you're hurting yourself because you are not able to double or split your hand, when called upon. Even though you do have an edge that does NOT mean you are favored to win any given hand. You get your edge from splitting/doubling.
Build a bankroll that is at least a trip bankroll.
"Everyone wants to be rich, but nobody wants to work for it." -Ryan Howard [The Office]
http://store.fastcommerce.com/Gambli...1dc4f74-c.html
You can find BJA3 here for much cheaper. Amazon is selling BJA2 for over $100.
Don't judge a man until you have walked a mile in his shoes, by then you are a mile away and have his shoes.
And you wonder why you got wiped out? You're probably going to get wiped out every time playing like this, and probably after only playing a few hands. Do you realize that even in high counts you're only likely to win any particular hand 43-44% of the time? You need to learn how to play every hand, know what to bet every hand and have a much, much larger bankroll before you attempt to count cards again.
Also remember that when you're "betting big", your advantage isn't even that much. A typical player will have his max bet out when he has around 2% or 2.5% edge over the house. It is pretty easy to lose a bunch of those high count bets....just as easy as it is to win several hands when the house has the advantage. You only win in the long run, because of the "law of large numbers", which basically means that anything that happens "right now" is pretty much random. After thousands and thousands of hands, all of the situations where you have the advantage add up and you should be ahead. If your play generates $50/hour, most of the time after one hour, you're not going to be up exactly $50, but after a few hundred hours, you should expect to be up around $50*hour played. When I'd spread $5 to $30 playing double deck, after 60 minutes of play, I could be down $500 or I could be up $500, but my expectation is about $15/hour.
"Everyone wants to be rich, but nobody wants to work for it." -Ryan Howard [The Office]
Mike, there's really good feedback and advice here so far, so I don't want to risk repeating it - this a great place to get some real world guidance. However, I am curious to know how you've worked with Hi-Lo on and off for five years without being exposed to the index plays (like 16 vs. T, when to take Insurance, etc.) and the concept of bankroll and Risk-of-Ruin? I'm guessing someone taught you how to count but never went beyond basic counting, and you never had the opportunity to pick up any of the good, legitimate, books.
I think he means scavenger betting. Picking up others doubles and splits when they don't have the cash or willingness to make the proper move. Like someone at your table has 8, 8 vs 6 and they don't have any more money, you could buy one of his 8's and it benefits both partyies. There are less ethical savenger bets that seem like you are helping out the other player but they really are only helping you out, i.e. selling one of your 7's on a 7, 7 vs 5. Those opportunities exist but they are few and far between sometimes.
Last edited by DM21; 07-16-2013 at 08:52 AM.
Don't judge a man until you have walked a mile in his shoes, by then you are a mile away and have his shoes.
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