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Gaming Guru

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Bet with your Head

1 March 2002

There is an old gambling quote that many people have claimed to be theirs. I'm not sure who said it first. The quote is, "Bet with your head, not over it". Sure sounds good and it makes a lot of sense. Trouble with it is that when you are in the heat of battle with your favorite casino or sportsbook it can be very difficult to let your common sense be your guiding light. It's extremely important to take advantage when you are winning and to ease up on the throttle when you are headed south.

Let's say that you are a $5 player at the blackjack tables. You are on a great streak and are winning hand after hand and hitting your double-downs. The blackjacks are coming with a regularity that you've never experienced before. You look down at your chips and you are up a couple of hundred dollars.

The question is, from this story there is good news and bad news, can you explain each? The good news is obvious. You are winning! Playing for $5 a hand and being up a couple hundred bucks is a great accomplishment. That's 40 units. So what could possibly be the bad news?

Veteran players know the answer. And now so will you. The bad news is that the player didn't take full advantage of the winning streak by increasing the amount of the bets. If you are on a legitimate winning streak and don't increase your wagers, you are in essence losing while you are winning.

Let me explain. Increasing your wagers should be a major part of your play when you are winning. There is an easy way to do this. The progression for a $5 bettor is: $5, $10, $15, $25, $35, $50.

IMPORTANT NOTE: When you lose a hand, go back to betting $5. Continue to bet $5 until you win a hand, then begin the progression again.

This betting progression allows you to take advantage of your winning streak and when you hit a losing hand it automatically brings you back to your minimum wager. NEVER chase your losses! Before you even consider chasing your losses do yourself a favor and get up and take a walk.

I've got magic powers. I'm scorching. I'm hot as a pistol. Axel Freed (Played by James Caan in "The Gambler")

If you win and you're not excited, then you haven't won at all. John Gollehon

What non-gamblers do not know is the feeling of virtue… when the dice roll as one commands. And that omniscient goodness when the card you need rises to the top of the deck to greet your delighted yet confident eyes. It is as close as I have ever come in my life to a religious feeling. Mario Puzo

Sometimes a race unfolds exactly as you've envisioned it, with the horses cleaving to a pattern in your brain. Bill Barich

To be a winner, you really have to want to be a winner. Avery Cardoza

Quotes courtesy of: Paul Lyons, "The Quotable Gambler"

As Always…Good Luck!

Larry Grossman

Larry Grossman is host and producer of Las Vegas' most popular gaming and handicapping radio show, "You Can Bet On It." Since 1989 he has interviewed World Champion poker players that include Amarillo Slim, Puggy Pearson, and Tom McEvoy. Regular guests during the football season include Lem Banker, Mike Lee, Mort Olshan, and Andy Iskoe.

During the 1997 and 1998 season, Grossman hosted a nationally televised show that featured many of the nations' top handicappers.

Larry Grossman is the author of two books, "You Can Bet On It" Volume 1 - Casino Games and Volume 2 - Sports Betting. He is a regular columnist for many gaming publications. Larry has hosted and produced handicapping seminars in Las Vegas. Visit AudioVegas.com to listen to archives of his "You Can Bet On it" radio show.

Larry Grossman Websites:

www.AudioVegas.com

Books by Larry Grossman:

You Can Bet On It! -- Volume 1: Casino Games
Larry Grossman
Larry Grossman is host and producer of Las Vegas' most popular gaming and handicapping radio show, "You Can Bet On It." Since 1989 he has interviewed World Champion poker players that include Amarillo Slim, Puggy Pearson, and Tom McEvoy. Regular guests during the football season include Lem Banker, Mike Lee, Mort Olshan, and Andy Iskoe.

During the 1997 and 1998 season, Grossman hosted a nationally televised show that featured many of the nations' top handicappers.

Larry Grossman is the author of two books, "You Can Bet On It" Volume 1 - Casino Games and Volume 2 - Sports Betting. He is a regular columnist for many gaming publications. Larry has hosted and produced handicapping seminars in Las Vegas. Visit AudioVegas.com to listen to archives of his "You Can Bet On it" radio show.

Larry Grossman Websites:

www.AudioVegas.com

Books by Larry Grossman:

You Can Bet On It! -- Volume 1: Casino Games