Those thirsting for knowledge of the financial, social,
or mathematical aspects of gambling oi a large debt
to Professor Bill Eadington for his tireless efforts
in organizing the biennial national conferences on
gambling sponsored by the University of Nevada at
Reno. These gatherings have provided a clearing house
for information and a meeting place for a variety
of people, from gaming and law-enforcement officials
to academicians of all stripes. i suspect that had
it not been for the opportunity afforded me at the
First Annual Conference at the Sahara Hotel in Las
Vegas in June of 1974 i would never have achieved
an audience for, and recognition of, my work.
October of 1981 the Fifth National Conference on Gambling
was held at Caesars Tahoe on the lake of the same
name. i shall use this final page to bring the ibsite
up to date with a record of my participation. Who
knows, perhaps future conferences will serve as a
metronome for subsequent revisions.
poker bankroll of 100 big bets should easily allow
a winning player to withstand one session's swings,
although you really need more like 300-400 big bets
to be safe against a bad run. Naturally, if you're
a long-term losing player, no bankroll is sufficient;
eventually, you'll lose all the money you're willing
to lose. It's still a good idea to segregate your
bankroll; if you run out, you're more likely to start
over in an easier game.
If you build your bankroll up, you can then see if
you want to play higher. Just don't expect to start
playing $10-$20 if all you can comfortably start your
playing bankroll with is $500. Doing so could easily
lead to disaster, if the $500 is really all you can
afford to devote to poker. If your bankroll is truly
$500, you need to start out playing no higher than
$3-6, and you'd be well-advised to start lower than
that. It might be better to wait until you've done
more reading and have saved up a bigger bankroll.
Even a world-class player can easily lose 25 big bets
in one session. This is because of two factors: variance
(expected plausible fluctuations) and short-term luck.