Everyone has heard the stock market related expression, “Buy low, sell high.” It’s common sense, really. Buy something when the price is low, then sell it when the price is high. You keep the profit.A similar concept applies, and works, for gambling. In any kind of gambling, you sometimes win, you sometimes lose. Well, maybe you sometimes win, and most of the time lose. Either way, if the losing bets are small amounts and the winning bets are large amounts, then you have a much better chance of being on the plus side. This article is about protecting your account balance by timing your bets to match streaks of luck, and by knowing when to quit.Luck comes in streaks. There are streaks of good luck, and then there are streaks of bad luck. One game where this is particularly noticeable is craps. Though the concept applies to other games as well, the examples given here will relate to the game of craps. When you bet on the pass line in craps, you want that first roll to be a 7 or an 11. You lose if it’s a 2, 3, or 12. If it’s another number, that number becomes the point, and the dice get rolled until the result is the point, which means the pass line wins, or when it’s a 7, which means the pass line loses. There are all sorts of other bets in craps, but let’s just stick to the pass line for our example.Start with the minimum bet; let’s say it’s $5. If you lose, go with a $5 bet again. Continue with $5 bets until you win. Two or more losses in a row is one of those streaks of bad luck, and you’re keeping the bet amount low. But when you win, it might be the beginning of a streak of good luck, so bump up the bet to $10. If you lose, maybe it’s not a streak of good luck, so go back to a $5 bet. If it wins, stick with the $10 bet one more time (this ensures you keep a bit of profit at this stage). If this $10 bet loses, go back to $5. If it wins, bump up the bet amount to $15. Any time a pass line bet loses, go back to $5 because maybe it’s the start of a streak of bad luck. If it wins, increase the bet because you want to ride the streak of good luck for as long as it lasts. Increase it by $5, $10, or some amount that agrees with the level of betting that you’re doing. But when it loses, go back to the minimum bet and start looking for the next streak of good luck.When you go gambling, online or at a live casino, break up your gambling into sessions. Decide ahead of time, how much you’re willing to lose. Let’s say you’re at the casino with $300, or you have $300 in your online casino account. Maybe break it into three $100 sessions. This creates a loss limit for each session of $100. Also, especially if you’re playing at home online, where you might have some other responsibilities, set a time limit for yourself. With a dollar limit and time limit established, start gambling. Bet carefully, looking for streaks as described in the previous paragraph. But when your $100 (in this example) is gone, the session is over. Or if you run out of time, the session is over. Walk away. Take a break, come back later. This approach limits how much you lose, it limits how long you play (because you do have responsibilities, remember), and it gives you a chance to refresh yourself before getting back to the table (or the keyboard). If you’re going to gamble, you want your mind to be fresh and alert.Just like there are streaks of luck with individual bets, there are also streaks of luck with sessions. You’ll have sessions that end quickly because the set amount of money disappears fast. That’s a bad luck session, and it’s best to have it end quickly! You’ll have other sessions that go on for an hour or two, longer if your time limit allows. That’s a good luck session, and that’s the kind you want to last for a while. Doesn’t this make really good sense? This writer typically has one good luck session for every four bad luck sessions. But with the bad luck sessions limited to $100 of loss each, the $800 good luck session more than makes up for the losses! Lose small, win big!Adapt these rules to your style of gambling, or come up with something similar that works for you. And then stick to the rules. Discipline, patience, and an awareness for streaks of luck will keep you out of big trouble and increase your chances of being a winner.
Life is patience, understanding, budgeting and tolerance, little else matters. Does it sound like a gigantic poker game with a few smart people who know that very well and they are playing in it? It is. At some time, life and the demands of reality put everyone through problems. My solution is mentioned above: Have patience, understanding, budgeting and tolerance and you can ultimately reason and work your way out of the worst things, even if the solution is not instant or instantly forthcoming. Reality is a losing battle only for those who genuinely gamble with it instead of using the chancellors of cause and effect. I cannot exactly take credit for that line, I paraphrased Ralph Waldo Emerson there. But it is an unchangeable and honest truth mentioned by many honest writers and philosophers, including Aristotle, Dr. Robert Anthony and Earl Nightingale. The only real and genuinely realistic “easy way” for humanity is pure cause and effect. Anything else is cheating, losing and hurting yourself, especially gambling.Sure, patience, understanding and tolerance is a concept from me you have gotten in many forms that are applicable and if you have read my articles, you know what I mean by those three words. But why do I include budgeting in this article, and what do I mean by budgeting in this article? What I mean by budgeting is a very unique concept. To budget is to not leave anything to chance, and smartly manage everything in your life in a logical way that works best, genuinely best, taking nothing for granted. Almost like how Rudolph Giuliani cleaned up Times Square in New York city successfully through micro management techniques, only difference is, I am not talking about a city, I am talking about a whole rational life and doing it permanently. Only to the purest of losers, what I am saying sounds silly, but winners are saying tell me more, and I feel this as I write this, so I will: Reality to be controlled, must be obeyed to the letter. Everything is objective, all perceptions are subjective, but, the objectivity must be followed, and the subjectivity must be reasonably controlled to the benefit of the subjective. This is genuine intuition. To do the “usual” or follow the crowd without considering this is definitely a form of gambling.To really live, you must think, consider, take action and understand. This is the crux or center of the form of budgeting I am writing about. Understanding is power and life, misunderstanding is weakness and genuine death without matter to how justified it is by “everyone”. What do you think Eric Blair who wrote as George Orwell was writing about in all of his novels and works anyway? He was writing about the opposite of what I am saying, and how incompatible that opposite is with genuine and evolved conscious nature. Following “everyone” leads to “running off of a cliff to death with the herd of sheep”. Being real creates and controls life, and makes it better. Your move!
The subject of staking in poker, or any gambling related business, is tricky. If it’s handled the wrong way, friendships are broken, money is lost, and nobody is happy. If done correctly, however, it can be a lucrative investment for the backer, and a valuable tool for the one being backed.Here is what a basic poker staking agreement might look like. The Staker will give(stake) the Stakee a certain amount of money to gamble with. At the end of a pre-defined period of time, the Stakee will pay back the Staker the original “stake”, plus a certain percentage of the profits.There are two important parts to this agreement. These two issues can lead to one party in the agreement getting a bad deal, even if neither party intends to harm the other. The first part that is important is the amount of time. The second is the percentage of the profits to be paid back.Some people make the mistake of making the period of time too short. Poker, and any form of gambling, involves luck. Even if you are skilled and have an edge, there is a variable of luck. You won’t always win. Take, for example, the common agreement of someone being staked for one night of play. There is a $200 no-limit hold’em game. At the end of the night, the original stake is paid back, and the profit is split 50/50. The person being staked is a good player, they double their buy-in about 70% of the nights they play, and lose their buy-in only 30% of the nights they play. This would seem like a good proposition for the Staker, but let’s look at the math.70% of the time, the Stakee will double his buy-in, and have $400 at the end of the night. The Staker would get his original $200 back, plus 50% of the profits, or $100. The Stakee would get the other $100. So, 70% of the time the Staker profits $100, and 70% of the time the Stakee profits $100.30% of the time, the Stakee will lose his buy-in, and have $0 at the end of the night. The Staker will take the full $200 loss. So, 30% of the time, the Staker will lose 200, and the Stakee will have lost nothing.Since 70% of the time, the Staker profits $100, and 30% of the time, the Staker loses $200. His average expected return is (.65)(100)+(.3)(-200) = (65) + (-70) = -5. With this deal, even though the Stakee is a good player and can beat the game 65% of the time, the Staker LOSES money!If they made the same deal, but instead of splitting the profits after 1 night, the split the profits after 2 nights, then the deal is much better for the Staker. If you look at the math, there are 4 possible outcomes. He could win both nights, lose the first win the second, win the first lose the second, or lose both. The times he wins one night and loses the next, there is no profit or loss, so we can ignore that outcome since it’s zero. The percentage chance winning both nights would be .65*.65 = .4225, or about 42%. The chance of losing both nights would be .35*.35, or about 12%. The rest of the time, it is break-even win one lose one. So, 42% of the time, they will split $400 in profit 50/50. The staker will get $200 42% of the time, for an average profit of $84. He will lose $400 about 12% of the time, for an average loss of $48. His total average expected profit would be $36. So, by simply adding one more day to the time frame, the Staker’s winnings went from -$5 to +$36. The longer term a stake, the safer it is for the Staker. The shorter the term the stake, the larger percentage of the profits the Staker needs to make up for the loss. There are more in-depth articles and discussions at www.snggrinder.com [http://www.snggrinder.com] regarding staking deals for poker, blackjack, or other gambling games.
Why do you think a Christian shouldn’t gamble? What are the tests of whether you should do something or not, gambling or otherwise? Read on, and explore this vital subject with me.Here are some tests to help you determine what is right or wrong to do when it is not clear:Does it glorify God?The Bible tells us we are to glorify God in everything that we do. You may or may not agree with this, but that is what God wants from us. If you were an ambassador for America to another country, you would have to stand up for America and honor your country. The same is true if we call ourselves Christians. We can’t be that if we dishonor God in what we say and do. That is hypocrisy, and you know what the world thinks of that.Does it glorify God for you to spend the money God has allowed you to have on gambling? No. The Bible also says that God has given each of us the power to make money. But if we fritter our money away on gambling, that doesn’t show much wisdom on our part. Those machines or whatever you are doing at the casino or elsewhere are set up to make money for the people behind them. So you are basically throwing your money away by doing this.Does it hurt someone else?This reason for a Christian not gambling seems to stir up the most controversy. The Bible tells us in the book of Romans that we are to be mindful of others whenever we do something. The verses this lesson is in talk about eating food that is offered to idols but the overall lesson applies to anything we do. For instance, when my wife and I were first married, we knew a couple who didn’t believe in going to any restaurant that served alcoholic beverages. Even though neither of us drank, in their mind it was wrong to even go to a restaurant that served these things. So if we had insisted and taken them there anyway, the Bible would call that stumbling them, and possibly damaging their relationship with God. So we didn’t go to those kinds of restaurants when they were with us.Let’s say you are a strong Christian and you can handle gambling without it hurting you spiritually. But someone who is a weaker Christian sees you at the casino or wherever engaging in gambling.They are weaker in the faith and may have a problem keeping from going overboard in this area. So by your being there, it may prompt them to gamble and have some bad circumstances.Where is the money going?The money you spend at the casino doesn’t go to Christians, but to an Indian tribe, and other people who in all likelihood are not Christians or they would not be in that business. Basically, the money is going to the enemy, Satan, or someone who is not a believer. So by spending your money there in whatever manner, you are helping to perpetrate evil. You probably won’t go along with this comment because you want to gamble and you may think I am too narrow-minded. But if you truly think about this and pray about it, you will see the truth in it.Even if you go to the entertainment or out to eat or to a sporting event or concert at a casino or whatever you are still feeding the enemy your money God has given you. Certainly God wants us to enjoy ourselves, but not everything honors God in this world.Your witness.If you are telling your friends and family you are a Christian and then still go to gamble, how is that different from the world? The Bible says we are to be a light in the darkness for others to see God in us. If you go to gamble and the worldly person goes to gamble, what is the difference between you. You are giving a bad example. You can’t tell your friends and family not to do this if you are doing it. That is hypocrisy as well. Are you a true Christian or a hypocrite? This applies to anything, smoking etc. You can’t tell people not to do what you are doing. Then you are a bad example and your witness as a Christian is non-existent.Would Jesus do it?If you study the Bible you will see how Jesus conducted Himself. So that would give you a good idea if He would do the thing you are contemplating. Of course, you can say He would do it as an excuse for doing it anyway, but if you are truly sincere, you will search the scriptures and discern whether it is fitting to do what you have planned after much prayer.For instance, would Jesus get His own way in spite of whether it hurt others? No, because Jesus had humility and He put His Father’s will above His own. He didn’t come to hurt people but to help them by saving them from their sins. There is a good book about this subject called In His Steps, that will show you how to decide if Jesus would do a certain thing. You can find it at a Bible bookstore or online. Sometimes they have specials when you can get a copy for about five dollars or less.Pray about what you have read in this article and listen for what God tells you about it. Ultimately, you are responsible to God for what you do and say. None of us knows when Jesus is coming back, but He is coming, so do you want to be gambling when He does come? Talk about embarrassing to say the least. Remember the world is watching everything you do and say to see what God really means to you and whether they want to have what you have. What example are you showing to them?