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Conference On Gambling

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.

In 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.

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A Bad Run
A 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.
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