Loss- Win Limit

[mastercrapsman]

I understand the reason for the loss limit but cannot fathom the reasoning behind the win limit. If I am having nice sessions
and is not time to hit the sack yet why should I stop playing when I hit my so called win limit. BTW I have not thought of a win limit yet
as I don't get the chance to go to the casinos often. I guess if one gets to play a few times a week, the win limit might make sense.

So... do you have a win limit? Your thoughts on this topic please.

[luxlogs]

When up 20% start looking for the exit, Get Greedy Get Nothing.

When down 50% same advice. Never let them Bust You.

[heavy]

Yep. Your terminology is wrong, mastercrapsman. I never "limit" the size of my win - but I do have "win goals." Generally, once I exceed a win goal I won't continue to play if I start losing and am in danger of taking a dive down below my win goal. Example. Let's say my win goal is $200. I look down at my chip rack and find that - after a particularly good hand - I am up $300. I'll lock up my $200 win goal and keep playing with the $100 in surplus chips. Should I lose half of that $100 - it's time to leave. Take the other $50 and add it to the $200 I've already locked up and get the heck away from the tables.

[mastercrapsman]

Win Goal it is.

When I have some profitable sessions in the morning it would be hard for me to do other games in the casino and/or watch the shows, going by some noisy -happy craps table and not be curious. Perhaps I will limit my loss to half of the winnings. Then If I win again, limit the loss again from the winnings. But I won't place an amount but just percentages. Money management is really important to a DI.

Many thanks for chiming in.

[DanF]

I don't like win limits but I like press&regress to lock on winnings, until you have a 100ish locked in on a hand then go parlay&press crazy.

A good strategy should make you money within 10 rolls, but the real fun is when you hit a 30+ roll. You should lock a part of your winnings as the hand progress, but take profit of long ones!!

I rather time limit then win limit. Keeps you sane. But never leave in middle of a big hand... Leave a bet 1 up and press from it.

[Dylanfreake]

South Shore Swami had a win goal and when it was hit , he was gone.

[mrmidi]

You know the devil is going to start to show more often sooner or later. You get tired, distracted, heat builds, s#*t heads
with late bets, georgeous drink girls , whatever. So why take a chance. Especially if you are going to have many
more sessions upcoming. Isn't it better to be safe than sorry? I would rather walk away with 10% higher BR many
times than a one time 40% or more BR lift.
If I'm lucky enough to have even a few 8-10 roll hands with regression, then I have a decent BR lift. Usually I'll leave.
If the table is not crowded, maybe I'll play real light (like only a PL minimum with 2x odds if I'm shooting) just to
practice alternate tosses I've been working on. If I give back 25% of the win $, time to take a break.
If you can find other things to do, boredom is not an issue. I watch netflix movies on my phone or laptop in the room
or practice on my portable rig. Have some food, take a nap, whatever.

[heavy]

This month's newsletter - when I get it published later this week (maybe even tonight) will have an article on money management that all of you may find useful. Bottom line - the time to quit is when you're ahead. If we'd all do that all of the time the casino would be broke in six months.

[Irukanji]

It's all fine and dandy to have limits and goals. But if you don't have discipline.... down the crapper you go!

The key is to have discipline and to maintain and enforce it.

Mine is 50% either way and or a one hour time limit. If the table is rocking, I'll change the hour limit to leaving when the streak ends. Sometimes I play before work and have had to leave the table in the middle of somebody's hot roll. Tough to do but it had to be done.

I once watched a guy buy in for $20 K and bring it up to around $80 K only to give all the winnings back along with the $20 K. I was scratching my head on that one. He was a millenial wearing a t-shirt, jeans and flip flops. Long hair and unshaven. Go figure!

[heavy]

I once watched a guy buy in for $20 K and bring it up to around $80 K only to give all the winnings back along with the $20 K. I was scratching my head on that one. He was a millenial wearing a t-shirt, jeans and flip flops. Long hair and unshaven. Go figure!

I've seen that so many times it makes me want to puke. Especially if it's 5AM, the guy has been there all night and is so drunk he can barely stand. The dealer is recommending bets for him, including toke bets, and he's just tossing money blindly around. Yeah, that was at the Golden Nugget around five years ago. I struck up a conversation with the guy, convinced him to take all but $500 off the rack and stuff it in his pockets. Told him if he lost over half of the $500 it was time to quit. Ten minutes later he said he though that he'd take my advice. I suggested he cash out, go up to his room and lock all of the money he'd won in the safe and not take it out until departure day. He seemed genuinely grateful. Whether or not he followed through remains to be seen, but I did my part . . .

[London Shooter]

I've always wondered how drunk you have to be in a casino before they will take action to remove you from the tables. It seems proportionate to your buy in, as long as you are not being overly offensive to staff and other patrons, though at times I've seen them turn a blind eye to that too just to get the money.

[Knick111]

Greetings Irukcanji,

why not a 3 strikes AND you are out system?

your bank roll for this system is 1,000.

3 SEVEN OUTS AND YOU ARE OUT. that means you go home.

WHAT to do, bet 200 dollars on the don't pass line, you must know your win goal for that night.

first seven out---you are 200 dollars ahead, if goal is 200 dollars YOU MUST GO HOME.

SECOUND seven out===you are up 400 dollars, if your goal is to win 400 dollars , you go home.

I forgot to say, if your loss amount is 200 or 4 or 6 Hundred dollars you leave the table and go home.

THIRD SEVEN OUT---YOU ARE UP 600 dollars, you leave.........

You must play on 100 dollar table. you must be a good shooter to play this system.

This system you could win 2 OR 4 OR 6 HUNDRED DOLLARS or YOU COULD LOSE 2 OR 4 OR 6 HUNDRED DOLLARS.

DON'T FORGET , you must stop after 3 seven outs. ---Jaime Garcia--- not the baseball player.

This system is for high rollers like you Irukcanji.

[HornHighJoe]

Jaime,
I use to have that 3 strike philosophy as well, I posted it once years ago. The only difference was if it was 3 rolls where I did not make a profit. So if after a seven out I had actually made even a small profit, it would not count as a "strike out". However, I do not follow that mantra anymore. Now I go more on "feel". When I seven out I'm honest to myself and try to decide how my toss looked. If the dice in the air looked "shit", or the dice just kept rolling after they hit the backwall, I get out.

Back to the original question, I also set a win-stop limit. It helps keep a guaranteed profit in your pocket. It also helps with discipline when the dice don't agree with you and you may want to "chase after losses". Walking away from the table after a big hit is difficult, but there are many times when I go back to the table just to see how others are doing as I usually get "Stoic, you left the table at a good time, it's cold".