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Gaming Guru

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You Can Bet on It!

1 June 2002

There is often a fine line between winning and losing. Many times when you gamble you get lucky early. You are winning and all of your moves are paying off. The question is when things start to change when do you quit that session?

Fundamentally, it's a very complex question. Let's say for example that you begin the session at the blackjack table and you win the first nine out of twelve hands. You've got a nice profit and then you lose the next three hands. You are still on the plus side, but you are giving it back. Some people would say that they are still winning and it will turn around again soon. Others would say that they are still playing with house money.

Let's get something straight right away. Whatever money you have in front of you is YOUR money. If you start thinking that it is the casino's money that you are playing with, you would be wise to take your chips and cash them in immediately. Take the money and put it in your pocket. That should convince you that it's yours.

When you take the cash out again and buy chips for your new session that's the time to understand that the reality to winning is walking away with a profit. The profit may show early and may not turn into a long winning session. It very well may be short and sweet. If you stay at the table too long the odds may very well eat up your short term profit. Of course this holds true not only at the gaming tables but also at the slot and video poker machines.

When you visit Las Vegas gambling is definitely one of the most fun activities that you can do. Most visitors schedule many hours of play at a time. Instead of playing for a set amount of time at each session, you might want to consider, if possible, to gamble according to the results of your play. If you win, and are satisfied with your score, cash in and take a break. Also, if you are losing don't throw away all of your past profits in one losing session. You might want to install a mental "stop play" if you lose four hands in a row. Or at least consider changing tables.

On the other side of the coin, if you are winning and continually getting the best of it at a particular session, continue to play until it obviously turns around. Knowing the difference between staying too long and leaving too early is something that experience teaches.

Unfortunately experience is usually an expensive lesson. Make sure that it doesn't cost you too much.

"Experience enables you to recognize a mistake when you make it again." - Franklin P. Jones

"If history repeats itself, and the unexpected always happens, how incapable must man be of learning from experience." - George Bernard Shaw

"Life is a series of experiences, each one of which makes us bigger, even though sometimes it is hard to realize this." - Henry Ford

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