"House Money"
 

So how many of you employ this thinking when you are up? So, you start the day with $100 and after the first 3 races you have $240 in your pocket. Do you consider that $140 "house money"? I don't, never have. Its mine. I find that to be dangerous thinking, setting myself up for potentially just throwing it around carelessly. I earned that money by a winning wager(s).

What do you all think?

I use to do that.Now I request a check for $140(it is instantly taken out,)and I continue on with $100.

I consider it house money, but I am very careful about giving it back. If I'm up enough, I don't let it get back to even so I can keep some of "thier money". I generally don't change my wagering either, I may go for a $2 box instead of a 1$ here and there, but then again, I'm not a very big better.

First of all it isnt the "House's Money." The house already took their cut. The money you won is everyone elses money that lost--lol. But when I score big--anything over $100. I request a check from the teller and then go on with the money that I came to lose. Cash or voucher in pocket is a dangerous thing.

As I told a ****tail sever in the casino..{.If Im plus $ 140.00 after three races.}...... She said...."" your going well "".. and I said..."" yes...this $240.00 is a homer""... and she said..."" a homer ?""... and I said..
""Yes...ITS GOING HOME "" !!!!

"healthy, at the moment."
 

One of my favorite gambling lines is uttered by Marlon Brando in "Guys and Dolls."

When Brando's characer, Sky Masterson, is asked about his recent gambling fortunes, he retorts,

"I'm healthy at the moment...."

(or something to that effect)

(kind of a "don't count your money while you're sittin' at the table thing," I guess)

I'm frequently amazed by examples of "house's money" mentality. You see this often on Jeapardy. Sometimes a contestant in Final Jeapardy is so far ahead that he could bet anywhere from $1 to $5000 and still win the round. Many times the contestant will bet the max he can "safely" risk. He might make a $5K bet. Now, I'm pretty darn certain that these people are not going to be making $5K bets in any other situation. But heck, it's the "house's money".

--Dunbar

wci, there's another famous Brando quote in Guys and Dolls; it's about betting on "sure things". I wrote an article a few years ago that mentions the movie, the quote, and "Luck Be A Lady Tonight".

http://www.blackjackforumonline.com/...nflipstory.htm

It's a true story about my narrowly escaping being conned.

--Dunbar

Dunbar,

Atlantic City in the winter of 1979-1980. What a depressing place Atlantic City was in those windblown nights of less than a handful of casinos to offer.

And streetwalkers by the casinos in those years clad in undergarments and short fur coats willing to offer more, for less. In the winter cold

Those weren't the days!



Intriguing article you wrote, and thanks for sharing. I personally would have been avoiding the guy as if he were a potentially criminally insane panhandler, but I sure understand and accept the "check it out" mentality.

My guard is up at all times in gambling situations.

When I was about 22 I got shilled and hoodwinked out of about $60 by two NYC grandfatherly types working the dog tracks in Miami. Just a few years later though, I admired their con men artistry. They staged a little loud argument and tussle in front of me, then one asked for my help.....in confidence. He helped me pick a winner one race, and brought me the winnings after he bet my $$ for "us." Then the next race he asked me to load up ($60+ bucks) on a sure bet he knew about, and I gave him the money to bet for "us" again. I never saw the guy again after his buddy distracted me as my $$ was going to the window. "Our" bet won the race, too.

I imagined these guys had been working this con on and off for quite a few years.

I figure $60 is less than the cost of a NY Broadway show, so it was a pretty inexpensive lesson.

True enough, but it was blackjack heaven. They HAD to deal out at least 2/3 of the cards before shuffling, and they had "early surrender", a rule which gave even basic strategy blackjack players a small advantage.

As a blackjack card counter, I was routinely risking $500 on some hands because my expected profit on those hands was $20. Now here is a guy offering me a $100 bet where I appeared to have a $450 expected profit on the flip. And, the guy definitely had the dough. As I said, walking away from it was VERY hard.

Ken Uston was one of the most famous card counters ever. And HE fell for it.

Good story! And, yeah, it could have been worse. You're right about always having your guard up.

btw, I grew up in Miami. Friends of the family owned Flagler Kennel Club. I seldom made it to the tracks or jai alai, though. You had to be 21 or have fake ID to get through the door. But I'm sure that the 3 racetracks in Miami plus the lack of any professional sports teams had a lot to do with my becoming a fan of racing.

--Dunbar

I'm a wannabe card counter
 

"As a blackjack card counter, I was routinely risking $500 on some hands because my expected profit on those hands was $20."



I've tried to count cards too, but I don't think "Rainman" has anything to worry about with me being a rival to surpass his abilities.

Heck, most of the times I've sat at a blackjack table in Nevada, I haven't even been able to count the # of free drinks I consume!


I will admit that I employ some bet increment strategies that I have been told had origins in China/Asia. I can normally sit at a blackjack table for hours with bigger than the table average bets happening frequently. It usually seems to work really good until I hit the 4AM hour, or so, and get impatient (and drunk?) and try to win the casino!


Just a quick reflection, I realize at this moment I treat "house money" a bit differently in a casino, then I do at the track.