http://luckydragonlv.com
6 decks, S17, H17 $10 minimums.
http://luckydragonlv.com
6 decks, S17, H17 $10 minimums.
Huh? What does the resort fee has to do with playing blackjack??? Your expenses and blackjack bankroll are separate. We are not obligated to choose to stay in Las Vegas hotels that charges resort fees. APs can stay at a separate place than they place it does affect there game.Originally Posted by ZenMaster_Flash
As a professional player, (with any income-producing activity,)
there is money IN and there is money OUT. Lodging is money
OUT; but it is a somewhat insignificant factor.
Lets take the example of a "serious" player who bets "light green"
S/he plans on playing 30 hrs. on a 3 day sojourn in Las Vegas.
That player will have an average wager approaching $40 with typical
("light green") play. If s/he has a "handle" (total bets) of $40 X 100 X
30 = $120,000 in "total action", then what minuscule percentage does
$48 (or $56 with a resort fee) X 3 days represent ? The hotel tab could
reach $136 to $168 after 3 days. Lets assume that our player earns a
projected 2.5 units per hour. That would be (conservatively) $625 per
day, so working less than an hour a day to cover expenses seems almost
trivial to me. I can view this as a 10% tax ... but I am getting comfortable
lodging for a low price, so that I can sleep well, and be happy enough to
concentrate on having a pleasant AND profitable trip. Does the expression
"Penny Wise and Pound Foolish" mean anything to our player ?
As a professional Blackjack player they should keep two separate bankrolls one for expense and one for Blackjack bankroll. You should not let your expense bankroll affect your Blackjack bankroll. So what you are saying doesn't make any sense to me. It seem like you are incorporating your expense bankroll with your blackjack bankroll. What minuscule percentage does $0 resort fees x 3 days represent?
A pro is concerned with NET wins, and proper bookkeeping.
What you are saying is silly as I always know what my results
break down to. I have no (ordinary) "earned income", so having
separate bankrolls is akin to leaving different funds in different
pockets. Reminds me of the unethical practice of "cooking the books."
Expenses need to be paid for from your EV. The actual money comes from your BR. If expenses are to large the trip EV isn't worth making. What you are saying taken literally would have you making negative EV trips. A professional has no other income cover expenses. The only place they can come from is your BR or money that was once in your BR which is the same thing in my book.
How we handle issues such as travel expenses in relation to bankroll is a personal one. The bottom line is that, one way or he other, exoens s need to be accounted for.
Some prefer the concept of certainty equivalent bankroll, the other roll being used exclusively for expenses. Sooner or later, that second fund needs to be topped up. I prefer the idea if calculating my EV over trip, calculating my expected hours, and then calculating expense per hour. A simp,er way of saying that is simming long term results with and without travel expenses factored in, making sure you're calculating on the right side if the bell curve.
There are ways around expenses. If a player is trying to play at a casino that offers great games he doesn't have to stay at casino where he plays. If a hotel that is within driving distance that doesn't charges resort fees you can stay there to lower expense. So my question is that why stay at Lucky Dragon when there are other places in Las Vegas that doesn't charge resort fees? Finding a place that doesn't charge resort fee lowers expenses and increases your EV by saving.
Yes there are. My expenses are paid for from incentives to show up and then still have plus EV on top of that because incentives are worth more than expenses. It still affects trip EV because if I had no expenses the incentives would all be positive trip EV.
You are thinking of going to an area. You run a transshipment type problem for the offers you get to show up there. You choose your trip time to maximize return in trip incentives over trip expenses compared to other trips you could take at the same time. When you get there you try to maximize EV which usually means maximizing the number of rounds played. Usually if this is done you play fewer hours than if you just try to maximize hours. Most of the time for me it is far fewer hours. If I can hit a certain number of rounds (1/4 to 1/2 n0) in a trip I have quite consistent results. That is about 2.7K to 5.5K rounds. That is about 10 to 20 hours of play if I try to maximize rounds played. If I were to try to maximize hours it would take 40 to 80 hours of play. I learned a long time ago that wasting time playing whatever you find means you are not finding what you are looking for. You can't be in 2 places at once. There are lots of other opportunities if there is no counting games worth playing.
I can't wrap my head around this argument that your BR and Expenses need to be kept separate of one another physically. All of my money is in probably 21 different accounts and holdings, including a floor safe, and at the end of the day, my Trip Either yielded Money or it did not.
As a professional, especially one who travels more than I believe anyone else here on the forum does, separating the two physically just doesn't make sense.
I charge expenses to my Debit and Credit (whichever rewards me more for the purchase), I deposit winnings to my safe, and to my debit/credit to cover expenses, the remainder gets split up between retirement savings, IRA, Investments, and maintaining my raw "on hand" cash.
All expenses and incomes tallied on my personal ledger. My bankroll IS my net worth, there's no read to chop it up anymore than it already is.
Keeping BR and lodging money separate doesn't make much sense to me. The hotel is part of your expense to play, so it should be covered with that money. If you keep them separate, it would be too easy to go on negative EV trips. I suppose as a recreational player who just wants to do a little counting while on vacation, this could work. For anyone making the trip for the purposes of playing, it's not a good EV move.
When I plan trips for BJ, I compare my expected expenses to the EV I plan to generate. If the profit for the trip isn't worth it, I don't go. I keep track of my expenses while on trips and pay them out of my BR.
I'm not a full time AP. I have a normal job. I have a specific amount set aside for my BR. It's easier for me to track and manage this way. I input stores, game rules, spread, and win/loss into my phone while on trips. When I get home it all goes into an excel sheet. I can be a little OCD about logging these sorts of things. I've always been that way though. I even have spreadsheets analyzing this one online game I play. If I didn't have a secondary income, there would be no benefit to keeping my BR separate.
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