+ Register

[Mars Rocks]

It's not that hard.
1.   Determine your bankroll (B).

2.   Determine how many sessions you would like it to last (N).  Also determine how many shoes you wish to play per session (SN).

So the number of shoes you wish to play, S, equals N * SN (Formula1)

Let W be your wager for each hand that we will calculate.

We will be assuming a house edge of around 1.1%, and each shoe is 73 hands.  This means you will lose W * 73 * 1.1% per shoe, we will use 0.8 * W per shoe.  You can possibly get more hands but depending on whether you bet P or B you can get a slightly lower house edge too.  0.8 * W is close enough.  This means you will lose 0.8% of your wager to the casino per shoe.  You can also do better by skipping some bets, but will talk about that later.

3.   Now for the main formula.  Your bankroll has to match your losses.  So B = S * 0.8 * W.  So W = B / (S * 0..  Throwing in formula1 above gives W = B / (N * SN * 0..

That's it.  Let's do a simple example...
You have $10k and you want it to last 6 months and you want to go to the casino twice per week and play 3 hours (about 3 shoes) each time.  So you wish to play 52 sessions at 3 shoes per session, let's say 156 shoes.

Your wager needs to be $10k/ (156 * 0. = $80 (approximately).

So your wager needs to be $80 per hand to make your roll last 6 months.

Now you might want to sit at the $100 table, which is ok, because there is still something you can do.  You can skip betting some hands, call them virtual hands.  If you only bet 4 hands out of 5 then you can still make your roll last 6 months.  The casino might not notice and you might still get the comps as if you were betting every hand.

It's that simple.  You can also sometimes bet smaller and bigger so that your average bet is $80 per hand.  This is actually part of the virtual hands system in the previous paragraph, you are betting so that your average is $80 per hand. 

You might actually think you have a wonderful betting system that will make your roll last longer.  I have bad news for you, especially if you are using history charts to plan your bets.  YOU DON'T.  Your roll will not last longer.

You might also think that you have a wonderful money management system that will make your roll last longer without reducing your average bet.  Again, you don't, especially if you are using history charts to size your bets.  Using your previous win/loss results is also using the history charts, and is to no avail.  But you can sit there and look like you know more than everyone else with fancy bet sizing and bet selection algorithms, you will fool many around you.  But not me!

[soxfan]

It's not that hard.
1.   Determine your bankroll (B).

2.   Determine how many sessions you would like it to last (N).  Also determine how many shoes you wish to play per session (SN).

So the number of shoes you wish to play, S, equals N * SN (Formula1)

Let W be your wager for each hand that we will calculate.

We will be assuming a house edge of around 1.1%, and each shoe is 73 hands.  This means you will lose W * 73 * 1.1% per shoe, we will use 0.8 * W per shoe.  You can possibly get more hands but depending on whether you bet P or B you can get a slightly lower house edge too.  0.8 * W is close enough.  This means you will lose 0.8% of your wager to the casino per shoe.  You can also do better by skipping some bets, but will talk about that later.

3.   Now for the main formula.  Your bankroll has to match your losses.  So B = S * 0.8 * W.  So W = B / (S * 0..  Throwing in formula1 above gives W = B / (N * SN * 0..

That's it.  Let's do a simple example...
You have $10k and you want it to last 6 months and you want to go to the casino twice per week and play 3 hours (about 3 shoes) each time.  So you wish to play 52 sessions at 3 shoes per session, let's say 156 shoes.

Your wager needs to be $10k/ (156 * 0. = $80 (approximately).

So your wager needs to be $80 per hand to make your roll last 6 months.

Now you might want to sit at the $100 table, which is ok, because there is still something you can do.  You can skip betting some hands, call them virtual hands.  If you only bet 4 hands out of 5 then you can still make your roll last 6 months.  The casino might not notice and you might still get the comps as if you were betting every hand.

It's that simple.  You can also sometimes bet smaller and bigger so that your average bet is $80 per hand.  This is actually part of the virtual hands system in the previous paragraph, you are betting so that your average is $80 per hand. 

You might actually think you have a wonderful betting system that will make your roll last longer.  I have bad news for you, especially if you are using history charts to plan your bets.  YOU DON'T.  Your roll will not last longer.

You might also think that you have a wonderful money management system that will make your roll last longer without reducing your average bet.  Again, you don't, especially if you are using history charts to size your bets.  Using your previous win/loss results is also using the history charts, and is to no avail.  But you can sit there and look like you know more than everyone else with fancy bet sizing and bet selection algorithms, you will fool many around you.  But not me!

Do ya feel better now, hey hey?

[HunchBacShrimp]

Hey, that's real piece of garbage calculator of ruin.

When do we get to the money management part?

HBS

[Mars Rocks]

Hey, that's real piece of garbage calculator of ruin.

When do we get to the money management part?

HBS

Ok, give me a laugh and put up your money management ideas.

[Rolex-Watch]

Ok, give me a laugh and put up your money management ideas.

Manage it well   

[Mars Rocks]

  Manage it well   

Ok, my apologies.  What I meant to say was: Gosh, I'm a bit of a jolly skeptic when it comes to any other money management schemes that use history charts.  Please broaden my knowledge and show me why I am mistaken to believe that only metaphysical methods can beat baccarat.

Oh yes, of course there is another method that involves turning 8's and 9's around and sizing bets according to the imperfections on the backs of cards.  That method works well but you could end up using your roll to pay for lawyers to defend yourself in court.  Let's save this method for another thread.

[Rolex-Watch]

Oh yes, of course there is another method that involves turning 8's and 9's around and sizing bets according to the imperfections on the backs of cards.  That method works well but you could end up using your roll to pay for lawyers to defend yourself in court.  Let's save this method for another thread.

Please, let's not, otherwise some d1ck from BaccaratLabs will come and tell us "it's the only way to win" and knows teams pulling it off, despite it being common knowledge.

[HunchBacShrimp]

Well MR, you are the one who assumed the roll of professor. You are the one that named the course. "Baccarat Money Management 101"

So why don't you start with defining money management, and then proceed to illustrate the basics for your readers.

Ok, my apologies.  What I meant to say was: Gosh, I'm a bit of a jolly skeptic when it comes to any other money management schemes that use history charts.  Please broaden my knowledge and show me why I am mistaken to believe that only metaphysical methods can beat baccarat.

Oh yes, of course there is another method that involves turning 8's and 9's around and sizing bets according to the imperfections on the backs of cards.  That method works well but you could end up using your roll to pay for lawyers to defend yourself in court.  Let's save this method for another thread.

"....any other management schemes..."?    Any other compared to what? you have yet to demonstrate a single money management scheme yourself.

And Edge Sorting isn't a money management method either.

Let's just stick to the subject at hand,
or delete this thread.

HBS

[Jimske]

I'm still logged in! 

To me gambling MM is simply how one chooses to risk or conserve bankroll.

I suppose one could define a strict MM scheme as it relates to ones existing bankroll and current w/l situation.  IOW one could set up a specific formula to risk a certain % of existing bankroll.  My eyes glazed over when I began ti read MR's formula but it seems one could do that but it would end in ruin.  Reason is that it will lead to a downward line.  Unless we get real lucky we are going to have to recoup losses at some point and that will require a risk that goes against a formulated MM scheme like the one MR proposes.  One size doesn't fit all.

My MM is pretty simple and is not formulated.  I keep my bet sizes tight - within 3 or 4 times my base bet - usually 2 times.  When losing I then must decide to increase my bet(s) in some way   That could be moving to a Neg Prog or flat betting large units.    The size of those increased units will depend on  other factors.  I generally don't look to recoup all the losses but try to get back to a "manageable" loss.  It also means that I may then change when and where I bet.  Since I bet most hands in a shoe until I quit I now may pick spots in the current or next shoe rather than continue with my base mechanical bet selection.  Looking at VL and variance is a part of this.

But that's me.  I'm a grind player.  I don't look to get the big win.  I know what my average "good wins" are and when I reach them and begin to fall back I won't press but will lock up and re-start.  Nothing is written in stone but there are parameters that I generally stay within.

What happens when I try that and lose?  I quit and re-start.  Those losses happen rarely but account for my low average win per shoe.  I can't seem to get more than about 3 units per shoe average no matter what I do.  And believe me - I try!

J

[gr8player]

Fine post, Jimske....spot-on.  You're effectively illustrating good, conservative, grind-style play.  Nice job.

Oh, and don't fret over your "3 units per shoe average", either.  That's about THE number for any serious grinder, so better for you to revel in it than to rue it.  You're doing just fine.  Trying to improve upon that number will, most likely, leave your play "exposed" somewhere else (the "robbing Peter to pay Paul" principle, in effect)....much better to accept it.

Stay well.

[vo rogue]

Mars rocks (in the head),you have my vote for troll of the year, your not alrelax are you ?.

[Mars Rocks]

So why don't you start with defining money management, and then proceed to illustrate the basics for your readers.

Money management is making you bankroll last as long as you want it to.  I'm pretty sure I said that somewhere in my post.  If you actually read my post you will see it's about sizing your bets to make your roll last.

"....any other management schemes..."?    Any other compared to what? you have yet to demonstrate a single money management scheme yourself.

I've given mine.  You need to now perhaps show yours if you have anything worthwhile posting.

And Edge Sorting isn't a money management method either.

I'm sure they didn't bet their whole roll on any hand, and therefore they must have some sort of money management.  Their system looks at the back of cards and not the history charts.  Did you read that?

[Mars Rocks]

Mars rocks (in the head),you have my vote for troll of the year, your not alrelax are you ?.

No I'm not alrelax, but I'm sad to see him go.  Please come back al.

[Mars Rocks]

HunchBackShrimp also says that my OP is an arrogant piece of ignorance.

[HunchBacShrimp]

Money management is making you bankroll last as long as you want it to.

Incorrect.

I'm pretty sure I said that somewhere in my post.  If you actually read my post you will see it's about sizing your bets to make your roll last.

Yeah, I read it. It's a calculator of ruin, and a poor one at that. What are the chances of doubling that BR instead of busting it? What are the chances of ending up even? what are the chances that BR busts in 5 months, 3 months, 1 month? What's the point in calculating the house edge against your unit size to determine how long it will take your action to bust your BR given a perfectly even distribution of  expected wins and losses?

 
I've given mine.

So far, you've given nothing.

You need to now perhaps show yours if you have anything worthwhile posting.

Mine? I've made it no mystery I favor the regression and parlay. But I don't expect you to understand this as you don't have a grasp on what money management is.

I'm sure they didn't bet their whole roll on any hand, and therefore they must have some sort of money management.  Their system looks at the back of cards and not the history charts.  Did you read that?

I'm sure they didn't bet their entire BR on one decision either. Therefore I'm sure they had some sort of money management that didn't involve imminent ruin. Possibly something like the Kelly criterion. Look it up.

Of course I read it.
Their 'system' was an exploit. The morality or legality of which is a moot point. It is a bet selection process, not money management scheme.
You need to read it and re read it until you understand the difference.

HBS