INTERESTING: Lessons Learned from watch gamblers lose (including me)

Friday, December 22, 2006

This week I formulated a theory about gambling. Gamblers lose for three reasons:

  • They don’t understand the game.
  • They have no limits.
  • They have no money management scheme.

Regardless if it is slots, table games, or something else, gamblers lose because they really don’t understand the “rules”. Both the published rules, the implied rules, and the common sense ones. For example, on slot machines, do you even know what the bonus that you (me) are chasing will pay. Dropping big bucks chasing what turns out to be a small bonus is a losing gamble. You have to understand what you can take away. I see hunch players at the Let It Ride game chasing everything, even low hands with no reasonable expectation. Pumping bills into a slot machine where the expectation is low is also demonstrating not understanding what you are doing.

People often have no limits other than when they are “tapped out”. Very early in my gambling career, I learned about limits. Lots of limits. I divide my trip limit stake into day, session, and game limits. We used to use envelopes, but they are NOT needed now. With the envelopes, I used to actually put all the change back into the envelope and total up at the end of the trip. Using that system, I was surprised at how it averaged out well.

Gamblers lose becasue they have no money management scheme. For example, yesterday, I met a lady who hit a straight flush earlier in the day with one five dollar bet (An example of flaw number one!) who won $1,000. She had played it ALL back. Did she think she was going to get another one? You have to play with a way to get YOUR money out of the game, off the table, back to your pocket, wallet, or envelope. I use a money management schme with Let It Ride that sets a game stake that will allow me to pay for six losing hands in a row. When my “front row” is full, any winnings go to my “back row”. Once in the back row, they are never risked again. Frau plays roulette with her game stake on the table. When she wins, she carves out her original stake. If she’s doing really well and they pay here in “real chips”, those go right into her pocket never to be seen again.

Comments?


FUN: Some Plainsboro carolers were out Friday night

Friday, December 22, 2006

I took a few pictures of some carolers at the Plainsboro shopping center (by the “good” chinese restaurant).

http://www.kodakgallery.com/ShareLandingSignin.jsp?
Uc=xiwgp6n.c7ff01k3&Uy=-29yltk&Upost_signin=
Slideshow.jsp%3Fmode%3Dfromshare&Ux=0

http://tinyurl.com/ygtzu6

It was serendipity.

This group showed up and start singing. They weren’t collecting. I guess they were just doing it for the joy, or for practice.

I had my camera as usual.

But the clincher was that there was a little girl there with her birthday balloon who was absolutely enthralled with the show.

Now maybe if I was a better  camera operator or had better gear, I could have gotten a better picture.

In any event it was a great moment.


RANT: What important and what’s not!

Friday, December 22, 2006

http://www.accesshollywood.com/news/ah3204.shtml

Trump To Rosie: You’re Sued!

*** begin quote ***

NEW YORK, NY (December 20, 2006) — Donald Trump is set to sue “The View” host Rosie O’Donnell, Access Hollywood can reveal.

*** end quote ***

Who cares?

Here imho are two people that don’t deserve serious consideration.

Rosie earned her way onto my “don’t care” list when she showed that the “Queen of Nice” was all an act. She put herself out in her morning show as an ordinary person, with some liberal politics, doing good for ordinary folks. When she was finished, she demonstrated that it was all an act. She was not an authentic person! Anyway, as Gandhi said “one can not do wrong in one department of life”.

Donald also earned his way on to that list with several actions. His perversion of the eminent domain laws to displace those AC families for “his” underpass violated my sense of fair play on several levels. So, I won’t patronize his efforts voluntarily.

So, like Jane Fonda, Barbara Striesand, and many politicians, I choose to ignore them and urge you to do the same.

This isn’t “news”. Our boys and girls dying in Iraq, while “our” politicians spend a quiet Christmas at home, that’s news! The Federal Reserve inflating us to poverty, that’s news. The socialist education system dumbing us down as a nation, that’s news. And, the alleged “wars” (i.e., terrorism, drugs, etc. etc.) reducing us to slaves, that’s news.

Rosie and Donald ain’t news!


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