It’s not uncommon for gambling gurus (people like me, Tony) to tell you that a key to good money management in a casino is to allocate a certain amount of your bankroll. The typical rule of thumb is to take the number of days you’ll be gambling and divide that into your overall bankroll for a daily amount of gambling money.
I disagree, for the most part.
This completely ignores the fact that most casinos track your average daily theoretical numbers. If you use a player’s card (you are, right?) in the casinos in which you gamble, the player’s club will track your gambling information. Things like amount wagered per bet, denomination of table/machine, game played, total amount of money run through the table/machine, how long you gambled (and other mystical aspects we don’t know). When you throw all those numbers into the pot, it comes up with what you’re worth to the casino each time you come through their door. If you were to take a $2,000 bankroll, divide it by the 4 days you’re going to be in the casino, you’re worth $500 to the casino each day. However, if you were to save your gambling (on your card) to just two days of play, then you’re worth $1,000 a day to the casino. As dumb as it may seem, even through you’re there for 4 days, the bean counters think you’re MORE valuable to the casino by concentrating your play to just two.
Now, if you don’t use a player’s club card to track your play (which is really stupid of you, why do you follow VLO?) then the gambling philosophy of dividing the number of days into your bankroll for a daily loss limit, makes sense to do.
But remember, you get your comps based on your average daily theoretical, so keep it nice and high for those perks. My recommendation: Decide how many days you want to gamble when you’re at the casino and play for as long as you can! A minimum of 4 hours but realistically 8 hours would be smarter. One or two days of play at 8 hours a day will ensure you show up on the casinos radar. Radar is good for free stuff (hotels, meals, cash incentives). See why we concentrate our gambling to just a few days? If you’re going to gamble for 8 hours a day, you’re losing a large percentage of your day. So why not gamble hard in the middle of your trip and then bookend your trip by relaxing at the pool/spa/attractions!!