GAMBLING: Learning from an IPAD slot machine game

In gambling, there are some essential decisions — the game, the strategy, and how much you can afford to lose.

The games are pretty straight forward. Even the stuff that’s hidden, like the pay tables, are eventually “sense-able”. (You develop a feel for what they are. Even, in some case, when they change. See my post on the “battleship” game; now gone.)

In killing time with this IPAD slot machine game, i “learned” that you have to have a money management strategy.

Using the standard initial stake, it is possible to go broke in few spins. It’s also possible to score big.

BUTT (there’s always a big but) if you have no “stop point”, you’ll always “give it all back”.

Then, in real life, you have “buyer’s remorse”. In the IPAD game, you just have a data point.

I think the operative tactic is to have a “stop point”.

Like the Sultan’s Dowery, how do you know when to take the offer?

I think my new strategy will mimic a strategy I’ve seen the old lady’s use. After a big win, they will take the ticket and start with a fresh stake.

It’s the equivalent of moving your stop point up to the high water mark minus your original stake. That way, you never “give back” more than your original stake.

Comments?

p.s., I know understand WHY the old ladies take the ticket and put in a new stake. It’s a form of discipline!

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