Poker | Casino | Gambling | Bingo

Archive for July, 2009

Do you know a player who does this? You don’t? No problem. It sometimes happens to us all, that we don’t see the woods from the trees. The entity that does the best ever job of continuously applying a small edge and generating money this way, is the poker room itself. They achieve this through the poker rake, which is a tiny percentage of every real money pot, won in their room. This edge is something that will seriously set your game back. You have to know one thing about this rake: no matter whether you win or lose a pot, you’ll still end up paying part of it. So it’s not taken from the winners of the pots but from pretty much everybody actively participating in a hand. This means that there’s a small edge working against you all the time. The type of minute edge you’d like to be working for you.

When you are in one of the blinds, try to profit from the positive EV they provide as often as possible. Do not end up foolishly chasing after blinds though. That is one sure bankroll killer. You have to be aware of the fact that everyone loses in the blinds, it’s just that winning players lose less than others. If you manage to lose $20 on the blinds/hour while everyone else at the table loses $30, you’re playing well.

Remember, recognizing the opportunity where such an edge can be applied is not enough by itself. You need to actually apply it too, and you need to constantly figure out some way to apply your edges. This is a very dynamic game and the ability to adapt on the go is a basic requirement.

Gambling can be a form of entertainment if handled with the right attitude. A good approach is to aim to win but to also be prepared to lose – and lose only the amount you planned to risk on that day. In other words, you have to accept the fact that you cannot force a winning outcome and you cannot win every time.

There are many devised gambling systems or methods aimed at overcoming the odds to give you an edge to make you a winner, but don’t expect to systematically play your way to riches off the casinos. Apart from card counting at blackjack or applying the Martingale System with no maximum bet limit, all forms of gambling are conditioned by luck, and an astute gambler should make allowance for that.

The casinos have an in-built mathematical advantage on virtually every game and no mathematical betting system can overcome that. On the other hand, the player practically makes all the playing decisions including when to quit. Depending how you make those decisions will determine how successful or otherwise you are.

The casinos are there to let you have a shot at their money and they will have a shot at yours too at the same time. Have a planned betting strategy. Discipline yourself too. Limit your losses and control your winnings. Stick to your planned bankroll limit if you lose and don’t be greedy if you win. Walk before you run. Rather than aiming to win a specific amount of money, learn how to be a winner first by a small margin – any small margin. Not easy.