Risk of ruin and Trip bankroll

[8675309]

Hi all, I know acceptable risk of ruin will vary by the individual and their circumstances and goals but I was wondering what risk of ruin the players on the forum try to stay within. I play allot of hours considering I have a full time job but my bankroll has started to grow from basically nothing to where it means something to me. Per CVCX I am right at six percent risk of ruin at my current limits. I would like to eventually play more hours and move up in limits some but do not want to move up too fast and risk catastrophe. I was also curious about session or trip bankrolls as to how many max bets you take with you. Right now I always play within a 3 hour drive of home and anywhere between 3-8 hours a night. Thanks folks.

[moo321]

Every long term pro I know is playing half kelly or less. Most like to play quarter kelly. Half kelly is about 5% risk of ruin, which sounds pretty close to what you're doing.


Unless cash logistics are a serious issue, which is well into the tens of thousands of dollars, you can just keep your entire roll with you.

[sondjata]

Hi all, I know acceptable risk of ruin will vary by the individual and their circumstances and goals but I was wondering what risk of ruin the players on the forum try to stay within. I play allot of hours considering I have a full time job but my bankroll has started to grow from basically nothing to where it means something to me. Per CVCX I am right at six percent risk of ruin at my current limits. I would like to eventually play more hours and move up in limits some but do not want to move up too fast and risk catastrophe. I was also curious about session or trip bankrolls as to how many max bets you take with you. Right now I always play within a 3 hour drive of home and anywhere between 3-8 hours a night. Thanks folks.

Variance is a hell of a monster. I travel with enough to have a ROR of less than 1% and I never chip down. I would be very concerned with having a 6% ROR at the outset. 6% doesn't sound like a lot but i've had enough variance to scare me away from anything over 1%. I also bring enough to cover near 3 SD negative variance for my spread. Again, I do not chip down. With this travel BR and the circumstances I've encountered over the years, I have not lost my entire trip BR though I have. had up to 2/3 my BR in play during negative variance (not fun).

[Freightman]

but my bankroll has started to grow from basically nothing to where it means something to me

What is that sweet spot?. The larger your bankroll becomes the more you want to protect it. You get away from the Hail Mary approach and begin thinking about controlled growth.

My biggest % downturn was towards the end of my full first year of play. With $600 of seed money, I built it up to about $4500 and then lost give or take $2000. It was a huge percentage and it bothered me. I went back to work doing my best to rebuild - and I did so.

Today - I don’t put in the hours I used to. I play essentially to a a 0% ROR - it has to be something so probably .01%. Depending on what your bankroll is, 6% may be about right, or it may well be far too high.

If I’m not mistaken, Austin considered 5% ROR, or losing your bankroll 1 time in 20 vs doubling it 19 times out of 20 to be an acceptable risk - So another way of looking at it - what is your risk tolerance. For me, I like to sleep at night.

[DSchles]

Every long term pro I know is playing half kelly or less. Most like to play quarter kelly. Half kelly is about 5% risk of ruin, which sounds pretty close to what you're doing.

Half Kelly is 1.8% ROR.

Don

[Freightman]

What is that sweet spot?. The larger your bankroll becomes the more you want to protect it. You get away from the Hail Mary approach and begin thinking about controlled growth.

My biggest % downturn was towards the end of my full first year of play. With $600 of seed money, I built it up to about $4500 and then lost give or take $2000. It was a huge percentage and it bothered me. I went back to work doing my best to rebuild - and I did so.

Today - I don’t put in the hours I used to. I play essentially to a a 0% ROR - it has to be something so probably .01%. Depending on what your bankroll is, 6% may be about right, or it may well be far too high.

If I’m not mistaken, Ustonconsidered 5% ROR, or losing your bankroll 1 time in 20 vs doubling it 19 times out of 20 to be an acceptable risk - So another way of looking at it - what is your risk tolerance. For me, I like to sleep at night.

Edit, changed Austin to Uston

[DSchles]

Edit, changed Austin to Uston

I was kind and didn't say anything!

Don

[Cacarulo]

Edit, changed Austin to Uston

I thought you were talking about Steve Austin from 'The Six Million Dollar Man' :-)

Cac

[8675309]

I thought you were talking about Steve Austin from 'The Six Million Dollar Man' :-)

Cac

"Gentlemen we can rebuild him, we have the technology"
I think we may be showing our age on that one. Lol