{"id":27316,"date":"2021-04-11T17:30:00","date_gmt":"2021-04-11T22:30:00","guid":{"rendered":"https:\/\/www.casino.org\/blog\/?p=27316"},"modified":"2021-04-12T06:19:01","modified_gmt":"2021-04-12T11:19:01","slug":"how-to-be-a-better-gambler","status":"publish","type":"post","link":"https:\/\/www.casino.org\/blog\/how-to-be-a-better-gambler\/","title":{"rendered":"R. Paul Wilson On: How To Be A Better Gambler"},"content":{"rendered":"\n

There\u2019s an inherent danger in entering into any proposition without being properly informed<\/a> or prepared in advance. <\/p>\n\n\n\n

When plunged\ninto unfamiliar circumstances, we have a natural tendency to learn quickly;\nmaking decisions or coming to conclusions based on available information and\npersonal experience.<\/p>\n\n\n\n

So it is with\nall forms of gambling: just as early experience can influence a lifetime of bad\ndecisions, it can be extremely difficult (or even impossible) to unlearn\nconclusions made when we were least educated about the games we play.<\/p>\n\n\n\n

Bad Education<\/h2>\n\n\n\n

This is not\ntrue of everyone. <\/p>\n\n\n\n

Many\nsuccessful gamblers realised at some point in their careers that they needed to\nstop what they were doing wrong and unlearn bad habits to stand a better chance\nof winning in the long run. <\/p>\n\n\n\n

But not\neveryone has the presence of thought to reconsider their own thinking,\nespecially if that thinking has paid off in the past.<\/p>\n\n\n\n

I recall introducing a good friend to craps<\/a> when we were working together in Las Vegas. <\/p>\n\n\n\n

I\u2019m a pretty\ncrappy craps player who bets the pass line, takes odds and enjoys the\natmosphere until my luck runs out, or I score a few bucks along the way. <\/p>\n\n\n\n

I explained\nthis to my friend who understood how taking the odds was a solid bet and that\nbetting the pass line (rather than \u201cno pass\u201d) was a personal choice to stay\nwith the table rather than bet against the crowd.<\/p>\n\n\n\n

Pretty boring\nand that\u2019s how I like it since I only buy in for what I can afford to lose and\nam never too deflated when I go bust. <\/p>\n\n\n\n

That\u2019s not how\nmy friend saw it.<\/p>\n\n\n\n

As his first\ncraps game progressed, our winnings began to mount up (for a change!) and he\nbegan to experiment with other bets on the layout.<\/p>\n\n\n\n

Two hours later and I was killing time at the blackjack<\/a> table while he was winning big with the dice by betting every crazy combination you can imagine. <\/p>\n\n\n\n

He followed\nother players and true gamblers and came out way in front with a sizeable\nprofit for his first time out.<\/p>\n\n\n\n

Meanwhile, I\nhad merely eked out a tiny percentage from my conservative bets therefore late-night\ndinner was on him while I listened to theories on how and why he won. <\/p>\n\n\n\n

I\u2019d seen it\nall before, of course. <\/p>\n\n\n\n

Some of us are\ngamblers, some of us are players and some of us are sharks in the water. <\/p>\n\n\n\n

As I fought my\nway through a Peppermill fruit plate, I knew exactly where this was headed.<\/p>\n\n\n\n

Two months\nlater and my friend had spent many nights at many craps table with varying\nresults but always certain he was still in front, overall.  <\/p>\n\n\n\n

Truthfully, I\ndoubt that was the case and I know he busted his own bankroll a few times\nfollowing a self-determined system based on what worked that first night at\nBenny Binion\u2019s place while being \u201ccoached\u201d by \u201chelpful\u201d dealers.<\/p>\n\n\n\n

It\u2019s only\nnatural to come to the wrong conclusion based on inaccurate information. <\/p>\n\n\n\n

In fact, this\nis the secret to all magic tricks regardless of how many theories you might\nhave read by deluded psychologists and their MRI scans. <\/p>\n\n\n\n

Incorrect or\nincomplete information leads to distorted reasoning which results in false\nassumption and flawed judgement.<\/p>\n\n\n\n

A good\nmagician will tell you that allowing an audience to reach their own conclusion\nas to what is (or might be) happening is a much stronger deception than\nanything a performer might tell them, whether true or false. <\/p>\n\n\n\n

As Teller puts\nit: \u201cNothing fools you better than the lie you tell yourself.\u201d<\/p>\n\n\n\n

So it is that\nyour first time at the table might prove more expensive in the long run if it\ninfluences how you play for years to come.<\/p>\n\n\n\n

The Way Of The Realist<\/h2>\n\n\n\n
\"Person
Image: Shutterstock<\/em><\/figcaption><\/figure>\n\n\n\n

It\u2019s all too\neasy to fall into bad habits and if you learn from the wrong crowd, those\nhabits might become dyed in the wool and impossible to unlearn if you aren\u2019t\nwilling to take a cold, hard look at your results.<\/p>\n\n\n\n

If you can\naccount for all your wins and losses and are in the black or even substantial\nprofit then more power to you, I hope your luck holds out. <\/p>\n\n\n\n

But if you see\na hole where your money ought to be, there\u2019s a chance you\u2019re just not playing\ncorrectly.<\/p>\n\n\n\n

There are\nbetter ways to play almost any game and while your choice of game will\ncertainly have a substantial financial impact on your bankroll in the long run,\nyou have a simple decision to make based on what you can afford to lose.<\/p>\n\n\n\n

Ask yourself:<\/p>\n\n\n\n

Do I enjoy\nplaying?<\/p>\n\n\n\n

Are my\npotential losses acceptable in return for my time?<\/p>\n\n\n\n

Is playing\nmore important than winning?<\/p>\n\n\n\n

The first\nquestion is important since it might identify all sorts of problems if you\u2019re\nnot at least having a good time. <\/p>\n\n\n\n

If you recognise that you\u2019re not enjoying your playing experience, it\u2019s time to consider other options, including seeking help<\/a> if you feel compelled to play.<\/p>\n\n\n\n

If you are\nlosing more than you\u2019re happy to lose for the experience of playing, then you\nmay be playing poorly or have chosen a game that will only occasionally reward\nyour style of play. <\/p>\n\n\n\n

Perhaps find\nanother game or pick up some books and try to relearn how you play.<\/p>\n\n\n\n

If playing is\nmore important than winning, this can be a good or a bad thing. <\/p>\n\n\n\n

Any gambler\nwho manages his money against games with a negative expectation should be able\nto adapt to highs and lows.<\/p>\n\n\n\n

But if you\u2019re\nbreaking into your piggy bank or spending the mortgage at the tables, your\npriorities are out of whack and you need to stop and rethink or find\nprofessional help.<\/p>\n\n\n\n

Examine Your Foundations<\/h2>\n\n\n\n

Whatever your long-term\nresults as a gambler, use your hard-won experience to re-think how you play and\ncast your mind back to how and when you developed your style of play. <\/p>\n\n\n\n

I guarantee\nthat if you haven\u2019t stopped to read a few books, take some lessons or observe\nthe right examples in any game, you may be misled by that first time you won,\nregardless of the quality of decisions that lead to that win.<\/p>\n\n\n\n

Making crazy\nbets might pay off once or twice but unless you\u2019re blessed with tremendous\nluck, they will bite back over time and take much more than you ever won.<\/p>\n\n\n\n

As my friend\nlearned over three months at craps tables around Las Vegas, you can\u2019t figure\ngames of chance based on short term results or you might end up on track for a\nlifetime of bad decisions.<\/p>\n\n\n\n

Regardless,\npeople tend to believe whatever they like and I know much of this will fall on\ndeaf ears. <\/p>\n\n\n\n

Once we cement our ideas based on isolated experience, it\u2019s almost impossible to talk ourselves off the ledge of our own beliefs.<\/p>\n\n\n\n

For more articles by this author, check out:<\/p>\n\n\n\n

\n
R. Paul Wilson On: Why You Need To Think Like A Poker Player To Avoid Being Manipulated<\/a><\/blockquote>