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Dancer's Answers

We publish a brand-new video poker article from Bob Dancer every Thursday in this section. These columns are called "Dancer's Answers". Click on any of the links below for more Dancer's Answers:

Bob Dancer Articles - Main Page
May 1, 2008

Vicksburg Video Poker - May 8, 2008

Vicksburg, MS Video Poker - Part 2 - May 15, 2008

Vicksburg Casino Video Poker - Part 3 - May 22, 2008

Common Deuces Wild Mistakes – Juan or the Other – May 29, 2008

Figuring Out Quick Quads - June 5, 2008

Breaking Full Houses in Quick Quads - June 12, 2008

A Quick Quads Puzzler - June 19, 2008

Let’s Go Scouting - June 26, 2008

When You're Not Sure of the Game - July 3, 2008

Can it be Right to Play Hunches - July 10, 2008

Good Hearted Woman in Love With a Good Timin’ Man - July 17, 2008

One-Way Versus Two-Way Straight Penalties - July 24, 2008

Effectual versus Ineffectual Straight Penalties - July 31, 2008

Unusual Dealt Royals - August 7, 2008

Learning from a Horse Handicapper - August 14, 2008

When Bad Is Good - August 21, 2008

I Live For These Moments - August 28, 2008

Las Vegas Do It Different - September 4, 2008

Figuring the worth when there are Multiple Progressives - September 11, 2008

Which is the Better Play? - September 18, 2008

How Much is Too Much? - September 25, 2008

Evaluating a Promotion - October 2, 2008

Sometimes the Jack, Sometimes Ace-Jack, Never the Ace by Itself - October 9, 2008

Why I Don't Play Poker - October 16, 2008

What is a Royal Flush Cycle? - October 23, 2008

A Logical Puzzler - October 30, 2008

Another Look at Changing Machines - November 6, 2008

Testing Matters - November 13, 2008

An Easy Yet Important Quick Quad Puzzler - November 20, 2008

Some Quick Quad Mathematics - November 27, 2008

Barona Improves its Video Poker - December 4, 2008

An Interesting Quick Quads Puzzle - December 11, 2008

Shirley Plays Suduku - December 18, 2008

How Often Does One Time in 360 Occur? - December 25, 2008

Earning a Free Cruise - January 1, 2008

Next Dancer's Answers column coming on January 8, 2009!

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Moving Up in Denomination - Part I of II

This article, and the continuation next week, were first published in March 2000 Casino Player. I believe this was my first-ever reference to “psychological bankroll.” Although the concept is common today, the idea was new at the time. The bankroll information presented here seems quite simplistic by today's standards.

I started playing video poker in late 1994. I only played for quarters because my entire gambling bankroll was less than $10,000. In actuality, $10,000 would be enough to play comfortably for half dollars, but the opportunities in that game just aren't there. Now I regularly play for higher stakes. I have been frequently asked about how I knew it was time to move up from quarters to half-dollars to dollars to five dollars to ten dollars and to twenty-five dollars. Let me share with you some of the factors that led me along this path. Your path will undoubtedly be different, but perhaps some of the things I have learned will be useful.

Notice that you are not bound by the advice I give. If you have $100 in your pocket you can always take a 1-coin pot shot on a hundred dollar machine even though I think that's a reckless idea. My standards are always that if I cannot reasonably expect to win at a given game, I don't play. Most recreational players have very different standards. Which is just fine.

Financial Bankroll --- This is of primary importance. The higher the stakes you play for, the greater chance you have of going through any given sized bankroll.

How many bankroll dollars you need is a complicated question and one I wish to skirt in this particular article. I have often said that between three and five royals is what you need to play any given game where you have a definite advantage. This rule of thumb is very simplistic. It doesn't consider how much over 100% the given game is, what the variance (i.e. streakiness) of the game is, or even how much risk you are willing to tolerate, but let me flesh it out a little. Playing with a .35% advantage (such as 10-7 Double Bonus with a .2% slot club) the five royals bankroll is appropriate. Playing 100.76% Deuces Wild, the three royals bankroll is appropriate. In the past year, both Liam W. Daily and TomSki have published significant research on video poker bankroll, among others, and they give more complete analysis of this subject. In the next year, Daily and I jointly will publish more on this subject in Strictly Slots. But for the purposes of this article, I am sticking with the "three to five royals" rule of thumb.

So how do you get this bankroll? Well it CAN come from gambling winnings, but usually other sources are involved. On a personal basis, a lot came from successful gambling but I also lecture, write and sell products. And in recent years the stock market has been very cooperative. Your formula will likely be different than mine.

But if bankroll accumulation is your goal there are better methods to obtain it for most people than strictly gambling. Work two jobs. Bank everything. Spend nothing. This type of focus works but is not a lot of fun. Many of you have families or other responsibilities that would make this out of the question. A large percentage of the American population has significant credit card or other debts. Getting this handled is far more important than getting more money to gamble with. Gambling is strictly a luxury. If the rest of your financial life is not in reasonable shape, a strong case could be made that gambling for more than modest stakes is irresponsible.

If you are trying to accumulate this bankroll while gambling you might well choose to heed Jean Scott's "Frugal Gambler" hints. When I was starting out I certainly adhered to a similar philosophy as the one she espouses. And read Jeffrey Compton so you know to take advantage of what a slot club offers. Remember, not spending $20 is the same bankroll-wise as going out and earning $20.
Psychological Bankroll --- this is very different from you financial bankroll. This refers to how much risk you are comfortable with. Let me give you examples from my life. Losing $2,000 gambling doesn't bother me very much at all. It's not FUN, but it really isn't a big deal to me. I've been gambling for years and I believe in my very soul that "today's score doesn't matter." Shirley, however, suffers more on that same $2,000 loss. She met me when she was in her late 40s and remembers many times in her life before she met me when money was rather scarce. Every loss brings back a little bit of these old memories.

But she suffers much less than she used to. You do get accustomed to the ups and downs although some people get used to it much easier than others do. I see people who have been gambling for twenty years who still get very upset at moderate losses. I'm glad that doesn't happen to me. Since I lose more frequently than I win (but I win bigger amounts than I lose), I wouldn't want to go around feeling miserable most of the time.

Before you move up in stakes, you need to ask yourself how losing larger amounts will affect you. And how will it affect your spouse, family, job, etc.? Because losing WILL happen. Losing streaks bring out the worst in people. And bigger stakes bring out bigger losing streaks. Having a wife or husband accept a $500 loss when you play for quarters is not too difficult. Try getting them to shrug off $2,000 when you play for dollars or $10,000 when you play for $5 dollars. To successful players it is just "units" and no big deal. But to spouses that do not share the same hobby, it is a new car being flushed down the toilet. To successfully move up in stakes, the entire family needs to come to grip with the reality of it.

Bob Dancer is America's best-known video poker writer and teacher. He has a variety of "how to play better video poker" products, including the software "Video Poker for Winners," Winner's Guides, strategy cards, his autobiography Million Dollar Video Poker, and his two novels, including Sex, Lies, and Video Poker. Dancer's products may be ordered at www.bobdancer.com or by telephone at 1-800-244-2224 M-F 9-5 Pacific Time.

Click here to visit River Belle Casino and play video poker games, including Jacks or Better and Deuces Wild.

Classic Dancer

We republish a classic Bob Dancer article every Sunday - often these articles are updated with new insights from Bob Dancer, the master of video poker writing.

Video Poker Questions and Answers - May 4, 2008

More Answers to Questions About Video Poker Machines - May 11, 2008

Losing is a Major Part of Winning at Video Poker - May 18, 2008

Video Poker VS Blackjack - May 25, 2008

The Art of Tipping Slot Personnel - Part 1 - June 1, 2008

The Art of Tipping Slot Personnel - Part 2 - June 8, 2008

Putting Your Ducks In a Row - June 15, 2008

Luck and Skill in Video Poker - June 22, 2008

Strategy Adjustments in Video Poker - June 29, 2008

One Coin vs Five Coin - July 6, 2008

Video Poker Progressives - July 13, 2008

High Pairs versus Three Cards to a Rolal in Kings or Better Joker Wild - July 20, 2008