Once I had a big win (for me) in Vegas playing craps. I walked away with like $2000, and each of my friends did (to varying degrees) as well.
So, what did we do? We lost it all back over the rest of our vacation. However, that big win did something chemical in my brain. I remember it very well and think back fondly of it. But I don't even remember how I lost it all back. The win is still salient and the losses forgotten.
I don't regret it because I had a great time, but all of your tips apply. 1 & 2) It's easy to remember your wins and forget your losses, so budget and keep track. 3) Go in big, because the more you roll the dice, the more likely it is you'll revert to the mean.
I'd add one: 4) don't use the machines and learn one of the table games. The odds are better and it's a social interaction, rather than an expensive video game.
And to amend to your 4), if you must play on machines, learn to play video poker (I personally like Jacks of Better variant) as they often have a slightly better payout, and at least you are doing "some" work :-)
Definitely. Unlike slot machines, it is actually possible to tell what the % returns are on a game of video poker (but unlike a slot machine, you have to play it right in order to do well)
Craps is the only game I'll play in a casino anymore. It's a great combination of slow-draining and high-social like you say. The downside is that you have to stand the entire time, but that's not so bad either.
Once I had a big win (for me) in Vegas playing craps. I walked away with like $2000, and each of my friends did (to varying degrees) as well.
So, what did we do? We lost it all back over the rest of our vacation. However, that big win did something chemical in my brain. I remember it very well and think back fondly of it. But I don't even remember how I lost it all back. The win is still salient and the losses forgotten.
I don't regret it because I had a great time, but all of your tips apply. 1 & 2) It's easy to remember your wins and forget your losses, so budget and keep track. 3) Go in big, because the more you roll the dice, the more likely it is you'll revert to the mean.
I'd add one: 4) don't use the machines and learn one of the table games. The odds are better and it's a social interaction, rather than an expensive video game.