CasinoStop10 | Strategies | Required Skills & Risks SKILLS

Required Skills & Risks SKILLS

I have taught many people how to earn a living from gambling. A lot of them still play professionally. Some have moved on to other endeavors. A few have failed miserably. The information you read here will give you everything you need to know to start making money from “gambling” or more accurately playing with an advantage. I use the term gambling loosely as more people understand what it represents although the fact that it implies relying on luck is completely inaccurate. When you play with an advantage you are not gambling but rather relying on the law of mathematical probabilities to emerge a winner in the long run. See why “gambling” is so much easier to use?
One of the strongest skills that a player can acquire is self-control. If you can focus on what you are reading and resist the urge to put your money at risk right away then you are doing well so far. Do you know what your limits are? How well do you handle stress? Can you get up and walk away from a table whether you are winning or losing? Psychology is as much a part of winning as mathematical skill. You must be in control at all times.
Besides self-control you will need to possess or gain the following:
1. Basic mathematical skills. Division is as complicated as it gets.
2. Observational skills. You must be able to see the “Big picture.”
3.  Money management skills. You must possess and play according to a sufficient bankroll.
4.  Concentration. You must be able to focus on your task despite environmental distractions.
5.  Social skills. This applies only to live games where you will interact with casino staff and other players. For online games this is not necessary but can be helpful in poker rooms which have chat ability.
There is no sure thing. Ask any Wall Street investor. A broker might tell you otherwise but I can assure you that while probabilities can be very high, there is always an off chance that something can go wrong. There is an old saying “Scared money can’t win.” As far as I am from superstitious I can tell you that playing with the rent money can cause most players to make horrendous errors that eliminate any advantage that they might have had. Don’t do it!
When I play a game I use a 5% risk of ruin calculation. This means that given my percent advantage “bad luck” can only cause me to go broke 1 in twenty times. I will address risk of ruin or ROR (as opposed to rate of return) later. For the time being it’s only necessary that you understand that a 5% chance of going broke is a proposition that any professional would take. If you want to play safer you can always play smaller for a lower ROR. I will explain this when we get to betting unit size.

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