So many times I hear about "win goals" and the need to quit when you're ahead at gambling. How do you set your win goal, and how much do you have to be ahead to walk away?
I think there is a time in all gambling -- casino gambling, poker, whatever -- when a player is ahead and has more money than with what they started with.
In cash poker games, if I double what I started with I leave. Perhaps I bought into a $100 game -- so I leave when I reach $200.
I know one professional video poker player who says he goes into a casino with a "bankroll" of $17,500 and will leave when he reaches his win goal of $2,500. Wow, I thought when he first told me about this -- that's a lot of bankroll for such a small win goal. But the more I thought about it, I came to realize that a $2,500 win with a bankroll of $17,500 represents a win of about 14% and that's a very nice return on your money when banks are paying about 1% or less on Certificates of Deposit. (Of course there is no gamble with the bank and plenty of gamble with the video poker machine.)
So how much do you need to win to walk away? How do you determine your win goal? Or do you even play with a win goal?