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Old 07-22-2005, 12:11 PM
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Default Re: someone has a gambling problem

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Gamblers at the poker table are encouraged more than at other games, because there are so many poker pros that show that the game can be beat. This particular person may be confusing himself with one of those pros.

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No doubt, right on the money.

I'd like to have a minute fraction of the billions that casinos won from punters, after small groups of highly skilled pros and teams proved that 4 and 6 and 8 deck shoes could be cracked.

Once casinos moved to shoe games about 30 years ago, they continued to win the same amounts from players who always played and lost by making the same basic mistakes, like taking insurance with a blackjack.

However, they made loads more from "intelligent" players who mistaken believed they were playing with a nice edge and were in fact only breaking even, winning slightly or losing slightly, all the while way overbetting their bankroll, in short working with a very high risk of ruin. These kinds of players often have only a miniscule chance to dig out once they get stuck heavily and the casinos make a fortune from them.

The basic gambler, whether very intelligent or only modestly intelligent, has no concept of the level of effort required to get that good, stay that good, adjust to changes, and perhaps most importantly, effectively manage their bankroll and psychological temperment to withstand the frequent -1SD swings and rare but possible -2SD and -3SD swings.

This current poker boom is no different than the big blackjack card counting boom of the 70's and 80's, in terms of how "easy" the games are to beat.
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