How to Increase BR

[ladykiller]

Since we're on the topic of ROR, having a bigger bank roll obviously helps. I was wondering if anyone knows an easy way to get a loan for as little interest rate as possible. Keep in mind I'm asking for someone like a 21 year old college student with little credit. Already got school loans, heard of a place called cash call or something like that where you can borrow 10k. I would do this for a high interest rate if I'm about to go on a real long counting trip. Suggestions... (By the way, I know someone's gonna be sarcastic and say to just play more and your bankroll will eventually go up- so don't say that).

I know someone will.

 

[Sonny]

Wrong way to go!

A loan is the wrong way to. Let me give you an example:

You get a $10k loan from someone who is nice enough to charge you a 5% vig each month. This means that you need to earn $500 every month just to break even! With a 1% edge this translates into $50k in action every month in order to earn your $500 (your EV is 1% compared to the 5% vig, so you need 5 times as much "action" as the loan is getting).

If you can play in quality games for 8 hours a day (which you can't) for 30 days a month (which you can't), you would need a betting unit of over $208 in order to earn your $500 in 240 hours of play. That's a lot of playing just to break even! Include the wild fluctuations and you might even LOSE on your first month, then you owe 5% on a $10,500 loan next month! Of course, your RoR with a $10k bankroll and a $210 betting unit is somewhere around 99%. Even with a 5% advantage (playing even with your loan shark) you would still need a betting unit of about $42 over 240 hours just to break even.

Your best bet: Tell you parents that you need some money for a down payment on your new car. Then tell your grandparents that you need some money for a down payment on your new car. Then tell your brother/sister/cousin/uncle/aunt/...etc. The last thing you want to do is ruin your credit rating by gambling. Actually, the LAST thing you want to do is tell your parents/grandparents/brother/sister/cousin/uncle/aunt...etc that you ruined your credit rating by gambling.

-Sonny-

 

[ZOD]

I don't mind saying it

I don't mind saying it. Save a buck or two. Start at low limits. Add to your winnings when possible. Graduate to bigger tables. Invest your winnings. Retire rich. Doesn't that sound better than the bleak picture Sonny laid out?

By the way, nice post Sonny.

Best...

ZOD

 

[Cyrano]

cheap money...

I don't know about $10,000, but usually, schools offer emergency loans (for, of course, emergencies such as paying rent on time or something) for 0 interest. You just need to pay it back at the end of the semester. My university offers emergency loans up to $650. This is probably the cheapest money you'll get, short of mortgaging a house, which would be probably the second cheapest. Then comes SBA loans, but you'll need to have some kind of business for that. If you have the means to pay back the loan, why not just wait until you accumulate the funds?

 

[Automatic Monkey]

Why not just ask a banker?

Being card counting is such a good deal financially, why not just go to the bank, tell the loan officer you need a $10K stake to begin a serious card counting career, and get a loan that way? Bankers are smart guys and can understand the mathematics of counting.

I wonder how long he'll laugh. Now I am not 21, have good credit, own a home, and if I were to suggest I was going to take the money anywhere near a casino, they'd laugh at me too. Unless of course I was willing to put my house up as collateral. Why is that? Because bankers are smart guys and they understand the mathematics of counting.

Let's look at the things that could go wrong with such a deal. The simplest one is I could just have a string of bad luck and lose all the money at the table. It can and has happened. It can happen in one night. Then there's other matters. With all the stress, I could develop an addiction and lose my money that way. Or maybe I have a great winning night, and bring a whore up to my room to celebrate, and when I wake up she's gone and so is all my money. Or someone could see me cash out, follow me outside and rob me in the parking lot. Or someone could pick my pocket in the men's room. Then there are a dozen more things I can't think of right now. True, most counters are disciplined enough not to let these kinds of things happen, but we are also disciplined enough not to go into debt for a bankroll!

My advice is to get your experience in at the $5 table. You're only 21, that's barely old enough to even play in most casinos. Bring a $500 stake and go home empty pocketed a couple of times, then ask yourself if you want to repeat the experience with money you have to pay back to someone. Or maybe not. If you bring $500 to the casino, your chances of going home with $1000 are greater than your chances of coming home broke. And if you do lose it your chances of getting another $500 stake are much greater than getting a $10K one, especially if you have gone into debt. See what I'm getting at? For a guy like you, screw the bankroll criteria, worry only about the technical aspects of your game, and get out there and roll the bones with what you've got.

 

[deZerTomB]

Re: Why not just ask a banker?

I agree with auto monkey.

People misunderstand bankrolls. What you need is a TRIP bankroll which should only be a portion of your total bankroll. Then set loss limits for each session. Then set your spread and don't overbet the TRUE count. Stick to the indexes and make the correct play according to the count no matter what happened on the previous 25 hands. And while you're at it, practice your shuffle tracking, bottom steering, dealer tells, card bending and hole carding.

Also, any gambling bankroll should be money you can afford to lose. That's rule number 1. Never gamble with money you can't afford to lose. All you have to do is go to any sweat shop to see where that will get you. Also it won't stress you out so much if you happen to lose a little.