Lose A Little to Win A Lot
I would like to talk toady about a principle that is at the core of my gambling philosophy: LOSE A LITTLE TO WIN a lot! Actually, this principle is reflected in every article I have written to date.
So how do I actually apply this principle to my play? Well, it really comes down to the “THREE STRIKES YOU’RE OUT” rule. That is, no matter what game I am playing: craps, blackjack or baccarat, if I find myself down any money after three tables, I quit for the day and go to a different game. If I don’t want to play a different game, then I leave the casino, wait at least two hours then give the same game one more try at a different casino. But again, I always use the “THREE STRIKES YOU’RE OUT” rule.
Now let me give you a practical example of why this principle wins so much money in what are essentially 50/50 games. Again, it is the principle that wins, not any playing strategy or betting progression.
In an article I wrote earlier this year, I pointed out that there are only 4 RESULTS that can occur from casino gambling. First, you can win a lot; second you can win a little; third, you can lose a little and fourth you can lose a lot. These 4 RESULTS are crucial to the success or failure of any 50/50 game. We must account for these 4 RESULTS if we are going to find ourselves ahead in the long run.
Otherwise, casino gambling is just a big waste of time!
Now the “THREE STRIKES YOU’RE OUT” rule and the principle of “LOSE A LITTLE TO WIN ALOT” has a very interesting approach to the 4 RESULTS. That is, they both ELIMNATE Result Number 4: You can lose a lot. Eliminating this result and keeping you losses to no more than a third of a buy-in is the key to beating any 50/50 game in the long run. Result Number 4 is truly the one pitfall that makes our total earnings diminish if we try to take it on, head to head. The best way to overcome Result Number 4 is to avoid it completely. A professional gambler must make a pledge that no matter what, he will never, ever allow this negative result to appear in his play. Never!
Of course this pledge takes a commitment and mentally tough psychology to follow. But if you stay true to this commitment, the FINAL RESULTS will astound you. Because now, there are only 3 RESULTS that can occur in your play: Win a lot, win a little and lose a little. And two our of three of these results are winners and not one of these results will jeopardize your overall wins.
Let me show you how the commitment to this principle improved my play over the last 6 months. Since December, I have been playing craps almost exclusively. I have played mostly $20 units. At times, I have gone every other day to AC, and at times, once a week. But all together I have gone over 30 times to gamble. That is, 30 different sessions at the craps table.
To date, I am up over 300 units. I am talking about a profit of 300 units, including my losses from time to time. But what is crucial about this run is that I have actually lost 12 times during those 30 sessions. During these 12 losses, my worst defeat was 15 units and the majority of my losses were between 6 and 10 units!
Now I want to show you something. If I didn’t follow the principle of “LOSE A LITTLE TO WIN ALOT,” look at what could, and usually does happen, if you allow Result Number 4 to occur. Let’s say if in just 5 out of my 12 losses I had actually lost my whole 30 unit buy-in because I allowed Result Number 4 to occur, my overall winds during these 30 sessions would drop to 180 units. Think about it. Till next time.
