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Thread: Investing bankroll

  1. #14
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    Quote Originally Posted by MJGolf View Post
    Along this subject line, it just became law in Vegas/Nevada that an employee can not be discriminated against or have adverse work action taken if he tests positive for marijuana. Of course security officers, law enforcement, employees who drive or operate heavy equipment of not exempted under this law. But don't be surprised if you see more 'high' dealers.......I think this might be interesting as it comes into play down the line. Maybe more cashiers will make mistakes..........LOL
    I had to chuckle when I read this. A couple of weeks ago I was backcounting a half full table with a dealer that just started her shift. She made 3 errors in the first 3 rounds she dealt. After the 3rd error she said: "Damn, I ain't even high, I'm as sober as a judge, that's probably why I keep messin' up." The whole table started cracking up.

  2. #15


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    Quote Originally Posted by DSchles View Post
    Finally, I just never have been much of a bond person. And, although I have the highest regard for Vanguard and have a lot of my money with them in equity index accounts, I really don't approve of junk bond funds for investments (the euphemism is "High Yield"; they just leave out the "high risk" part!).

    Don't know I've added much that you may not already know, but in today's environment, you have to look to more unconventional areas to earn significantly higher returns with your non-blackjack portfolio, separate from simple bank accounts or risky non-insured investments.
    Don
    Except the question was specific to what to do with the portions of your blackjack bankroll not currently in play, hence my emphasis on bonds. Yes, I have a portion which s in a riskier end of the bond market, but I understand the risks and rewards so use it to mitigate the other risks of low yield investments. Right now, inflation risk is not a big deal but the portfolio isn't meant to be period specific, it is meant to be relatively stable and liquid as a backup for the cash needed to sustain the periodic bj draw downs.

    I have other portfolios for non-blackjack related monies, which are more equity and real estate oriented.
    Last edited by UNCBear4SJ; 02-20-2020 at 06:09 AM.

  3. #16


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    Obviously you don't want to keep all of your bankroll in cash, although the amount you have in cash versus investments depends on the person, size of bankroll, and other factors. First, I would determine how much cash I actually need. Do this by simming games as well as figuring how much I'm going to be playing. Playing 40 hours a week is different than playing once a week and that's different than playing every month or so. If you do run bad, how easy is it to liquidate that value? Playing exclusively local games is going to be a lot different than going on a several week long road trip.

    I wouldn't go ahead and just put $20k into one account, $20k in another, and plan to gamble with the other $20k. I'd probably do something more like put $5k into each and keep $50k for gambling, at least for a while, to see how it goes. The more you play, the better of an idea you'll get of how much COH you need. Then, as time goes on, either put more money into those investments as you see fit, or keep growing that COH until you have a figure you're comfortable with. I don't know what that number is, since I don't know how volatile your game is going to be -- from an hour-to-hour perspective nor a week-to-week perspective since that depends on hours/week played. Also, it'd be annoying if you deposit all that money, have $20k to play with, then run bad and lose $10-15k, then have to go take money out of those investments very soon.

    When it comes to investing bankroll into something, I mostly see it in 2, I guess sorta 3, different ways. One, the most obvious, is a way to earn money...but I see this as a long term thing. I don't have any plans to liquidate an investment unless I run really really bad, it's a last-ditch effort, if that makes sense. Another type of "investment" is security. I'm not going to keep all my BR (cash) at home under my mattress or something like that, because I could get robbed, house catch on fire, etc. Some money goes into a safe deposit box. This also sorta ties into #1 about making money, but I have money in different sports betting accounts -- Las Vegas mobile apps and/or online casinos. If there's a good bet, I can make the bet easily and quickly. If I'm out and about and need cash (immediately), I can withdraw it from a sports book....much harder with a SDB, because that cash is only at one location -- whereas I can withdraw from my Stations app from any Stations property, Boyd from any Boyd....etc. The third way, is moreso a hedge(?) against inflation, which might be precious metals or cryptocurrency.
    "Everyone wants to be rich, but nobody wants to work for it." -Ryan Howard [The Office]

  4. #17


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    Quote Originally Posted by RS View Post
    If I'm out and about and need cash (immediately), I can withdraw it from a sports book
    I tried to send a message to you, but I see that you have chosen not receive private messages. Is there a way I can email you to ask some questions?

  5. #18


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    Quote Originally Posted by UNCBear4SJ View Post
    This isn't 0 risk but you indicate you understand that when mentioning the possibility of loss. I do something similar with Vanguard ETFs (listed in descending order of risk):
    20% in Money Market (currently yielding 2.08 -- associated with my checking account so withdrawals, if necessary, take a business day)
    30% in Total Bond Market (trailing 12 month return 9.8%)
    30% in Long-Term Corporate Debt (12 month 24.95%)
    20% in High Dividend Yield (12 month 14%)
    Rebalanced quarterly.
    All markets are skewed by central banks' QE, Repo and measurement like that. Better hold only 100% cash/money market in the next 18 months. Even Treasury is not as reliable as in the past. Forget corp bonds.

  6. #19


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    Quote Originally Posted by DSchles View Post
    I'm sorry. I'm actually involved with one right now. But I simply can't disclose what it is. It has nothing to do with gaming.

    Don
    Admit it, Don. It's Bitcoin, isn't it?

  7. #20


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    Quote Originally Posted by grnmax View Post
    Admit it, Don. It's Bitcoin, isn't it?
    Wouldn't be caught dead with it.

    Don

  8. #21


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    Quote Originally Posted by BJGenius007 View Post
    All markets are skewed by central banks' QE, Repo and measurement like that. Better hold only 100% cash/money market in the next 18 months. Even Treasury is not as reliable as in the past. Forget corp bonds.
    Oy!

  9. #22


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    Quote Originally Posted by BJGenius007 View Post
    All markets are skewed by central banks' QE, Repo and measurement like that.
    Thanks. I am well aware markets continue to be distorted by the quantitative easing the Fed felt necessary to implement. There is risk in everything (and obviously we all accept some risk since we are on a board dedicated to an activity which carries a high degree of short-term risk). I'm comfortable with my strategy at the current time, though stand ready to adjust allocations should normalcy begin to take hold, with rising interest rates putting pressure on pricing.

  10. #23
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    Quote Originally Posted by UNCBear4SJ View Post
    Thanks. I am well aware markets continue to be distorted by the quantitative easing the Fed felt necessary to implement. There is risk in everything (and obviously we all accept some risk since we are on a board dedicated to an activity which carries a high degree of short-term risk). I'm comfortable with my strategy at the current time, though stand ready to adjust allocations should normalcy begin to take hold, with rising interest rates putting pressure on pricing.
    Fyi, the banks bear no risk at all. The risk is transferred to holders of their debt(creditors). Previously this has been foreign countries. Most notably China. But when these creditors become skittish to the debtor-creditor waltz, the taxpayer is called upon to take up the slack.

  11. #24


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    Quote Originally Posted by Jabberwocky View Post
    Fyi, the banks bear no risk at all. The risk is transferred to holders of their debt(creditors). Previously this has been foreign countries. Most notably China. But when these creditors become skittish to the debtor-creditor waltz, the taxpayer is called upon to take up the slack.
    "Moral Hazard" has been discussed quite a bit since the last "financial crisis".

  12. #25


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    Quote Originally Posted by Jabberwocky View Post
    Fyi, the banks bear no risk at all. The risk is transferred to holders of their debt(creditors). Previously this has been foreign countries. Most notably China. But when these creditors become skittish to the debtor-creditor waltz, the taxpayer is called upon to take up the slack.
    Today 30 year US Treasury yield hit the historical low 1.89%. Still better than negative yield on some European bonds. But old financial rules may no longer be practical in the future. People should be extremely cautious on their savings instruments.

  13. #26


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    Quote Originally Posted by grnmax View Post
    Admit it, Don. It's Bitcoin, isn't it?
    you are not deciphering it correctly.

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