Gambling as a way to make a living?
You were dead wrong when you said gambling was not a viable way to make a living. A friend of mine uses a system based on calculus and consistently wins on the horses. Another friend uses a pocket computer when he plays roulette. By figuring out in advance the section in which the ball will fall and knowing the rate of decreasing velocity, he has a good edge and will win consistently. My game is blackjack. For eight years, I have averaged 1.2 chips per hour profit, not a bad living with $25 chips. I know two others who make their living playing blackjack. Obviously, we don't want our names or faces known to the casinos or the IRS, so I'm not signing this letter. "If you will check with your expert you will find out why I am Smiling All The Way To The Bank Dear Smiling: In an effort to find the best possible answer to your letter, I spoke with people who frequent racetracks, gambling casinos and those who run them. Here's the straight goods: Not a single person told me that a living can be made by betting the horses. A computer is virtually no more help in picking a winner than Knowledgeable and experienced bettors have been known to do well for several days, but if they keep at it, they will lose what they have won and then some. The only people who beat the ponies are those who go to the track once in a blue moon, get lucky and never go back. Slot machines? Forget it. They don't call them "one-armed bandits" for nothing.
Folks have a tendency to tell you about that jackpot they hit in Reno, but they never tell you how much it costs to get it or what they have put in since trying for a repeat performance. Roulette and crap-shooting are designed to benefit the establishment. The house doesn't have to load the dice or tamper with the wheels. The odds are with them and against the customer. Once upon a time, it was possible for a mathematical whiz with a phenomenal memory to beat the blackjack dealer by using the "counting system." These people could win consistently by remembering all the cards that were played, especially when there were five or six people in the game. But the casinos put an end to that by using multiple decks. So, my friends, blackjack is now a house game, like roulette and the slot machines. After all, somebody has to pay the salaries of all those dealers. And who do you think pays for that lush carpeting and those beautiful chandeliers? You do, Chump. One game at which a gambler can make a living is poker (if the cards aren't marked and some sharpie doesn't have cufflinks or a ring that can serve as a mirror). In a poker game, luck counts, but so do skill and judgment. Shrewdness and psychology also can be useful. It helps to know the personality and temperament of your opponents. The player who can identify the bluffers and risk-takers is in a better position to decide when to hold 'em and when to fold 'em. There is a big difference between cold and cool.
Folks have a tendency to tell you about that jackpot they hit in Reno, but they never tell you how much it costs to get it or what they have put in since trying for a repeat performance. Roulette and crap-shooting are designed to benefit the establishment. The house doesn't have to load the dice or tamper with the wheels. The odds are with them and against the customer. Once upon a time, it was possible for a mathematical whiz with a phenomenal memory to beat the blackjack dealer by using the "counting system." These people could win consistently by remembering all the cards that were played, especially when there were five or six people in the game. But the casinos put an end to that by using multiple decks. So, my friends, blackjack is now a house game, like roulette and the slot machines. After all, somebody has to pay the salaries of all those dealers. And who do you think pays for that lush carpeting and those beautiful chandeliers? You do, Chump. One game at which a gambler can make a living is poker (if the cards aren't marked and some sharpie doesn't have cufflinks or a ring that can serve as a mirror). In a poker game, luck counts, but so do skill and judgment. Shrewdness and psychology also can be useful. It helps to know the personality and temperament of your opponents. The player who can identify the bluffers and risk-takers is in a better position to decide when to hold 'em and when to fold 'em. There is a big difference between cold and cool.