David Matthews blogs on professional gamblers
- Thread starter KenSmith
- Start date
I liked this part, most in paticular
For a gambler that's used to sleeping at will, playing cards and throwing money around, and hitting the shows, restaurants and clubs frequently, the thought of punching a clock, answering to someone, and getting a fixed paycheck for an amount that they're used to betting on a flip of a card, it feels like being sentenced to Alcatraz for the rest of one's life. (Often that frivolous lifestyle is a contributing factor to their lack of success. True professionals don't behave that way.)
For a gambler that's used to sleeping at will, playing cards and throwing money around, and hitting the shows, restaurants and clubs frequently, the thought of punching a clock, answering to someone, and getting a fixed paycheck for an amount that they're used to betting on a flip of a card, it feels like being sentenced to Alcatraz for the rest of one's life. (Often that frivolous lifestyle is a contributing factor to their lack of success. True professionals don't behave that way.)
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Lifestyle
When I think about it, there is much to be said for your schedule being your own, answering to no one and being completely free to do as you please WHENEVER you please. I have lived it for the last several years... I can take off and go places on a whim... I answer to NO ONE... I am my own boss, this all sounds good, right? All is not what it is cracked up to be though.
There is a flip side to this! All those years I worked at one of those---------------J-O-B-S---- I played part time and had a readily replenishable bankroll, so could take more chances with a (slightly) higher ROR. I had a benefit package that I did not have to pay for private medical insurance. All was well no matter what as far getting paid regardless of anything. It's easier to work for someone else for that guaranteed paycheck than it is to work for yourself. To rule your own destiny and work for yourself means much more responsibilty as far as money management. You have to be able to grind and evaluate every nickel and not be stupid or frivolous. Working for someone else and you are stupid or frivolous to an extent you will likely keep your job. Working for yourself, ESPECIALLY something such as playing blackjack (or I would imagine poker) for a living, just a few moments of indecision, stupidity, inattentiveness, lack of money management skills and you are ruined. If you don't minimize your ROR to near nothing, play perfectly and according to the math you are ruined.
I have no idea what the percentage is of people that do this and fail miserably but I'm sure it's high. I talked about this in a post at some point about being in Vegas with my sister and brother-in-law, who are not gamblers. My brother in law, seeing the "glitz" part of it, the hotels, the restaurants, seeing those bricks of 100's stacked up, etc., says,"Gee, I would really love to be able to do what you do" sort of thing like I have it made or something. He works a regular well paying J-O-B and has a profession and thank God for that because he is a freaky, whiney, jittery, nervous, impetuous... okay, you get the idea! Anyway, I proceed to tell him,"What if you worked your tail off at your job and at the end of the month you made let's say, MINUS $3000?... How would you deal with that emotionally? Financially? Do you live on a normal budget, used to a given, fixed income and live paycheck to paycheck that this is not feasible?" He changed his tune after that.
You can do this and make more money in one day than most people make working for a week. You also have to pump that bankroll up with that to account for those negative swings. You can make $6600 one month and make MINUS $2000 the next month. You need money management skills to deal with this. You have to grind every comp,coupon, matchplay, free food, etc.,you have to think logically and you have more responsibility than you ever had before.
With all this in mind... take a sunny afternoon to sip a cocktail in the hot tub while everyone else is off working their J-O-B-S... because you have it made.
When I think about it, there is much to be said for your schedule being your own, answering to no one and being completely free to do as you please WHENEVER you please. I have lived it for the last several years... I can take off and go places on a whim... I answer to NO ONE... I am my own boss, this all sounds good, right? All is not what it is cracked up to be though.
There is a flip side to this! All those years I worked at one of those---------------J-O-B-S---- I played part time and had a readily replenishable bankroll, so could take more chances with a (slightly) higher ROR. I had a benefit package that I did not have to pay for private medical insurance. All was well no matter what as far getting paid regardless of anything. It's easier to work for someone else for that guaranteed paycheck than it is to work for yourself. To rule your own destiny and work for yourself means much more responsibilty as far as money management. You have to be able to grind and evaluate every nickel and not be stupid or frivolous. Working for someone else and you are stupid or frivolous to an extent you will likely keep your job. Working for yourself, ESPECIALLY something such as playing blackjack (or I would imagine poker) for a living, just a few moments of indecision, stupidity, inattentiveness, lack of money management skills and you are ruined. If you don't minimize your ROR to near nothing, play perfectly and according to the math you are ruined.
I have no idea what the percentage is of people that do this and fail miserably but I'm sure it's high. I talked about this in a post at some point about being in Vegas with my sister and brother-in-law, who are not gamblers. My brother in law, seeing the "glitz" part of it, the hotels, the restaurants, seeing those bricks of 100's stacked up, etc., says,"Gee, I would really love to be able to do what you do" sort of thing like I have it made or something. He works a regular well paying J-O-B and has a profession and thank God for that because he is a freaky, whiney, jittery, nervous, impetuous... okay, you get the idea! Anyway, I proceed to tell him,"What if you worked your tail off at your job and at the end of the month you made let's say, MINUS $3000?... How would you deal with that emotionally? Financially? Do you live on a normal budget, used to a given, fixed income and live paycheck to paycheck that this is not feasible?" He changed his tune after that.
You can do this and make more money in one day than most people make working for a week. You also have to pump that bankroll up with that to account for those negative swings. You can make $6600 one month and make MINUS $2000 the next month. You need money management skills to deal with this. You have to grind every comp,coupon, matchplay, free food, etc.,you have to think logically and you have more responsibility than you ever had before.
With all this in mind... take a sunny afternoon to sip a cocktail in the hot tub while everyone else is off working their J-O-B-S... because you have it made.
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I thought I was the only person in Las Vegas who did this; I never run between casinos, but I walk 12-minute miles and I'm not afraid of a little shoulder checking. I slow down appreciably when I get within camera distance of a casino - the last thing I want is surveillance wondering why I'm tearing into the casino as I Wong in.
Next time I see someone keeping pace with me, I'm going to ask them if they're a professional gambler. :laugh:
Next time I see someone keeping pace with me, I'm going to ask them if they're a professional gambler. :laugh:
I love Tarzan's comments...
Nothing related to this type of "work" is for the faint of heart. Anyone who has been in a casino for more than 15 minutes has witnessed someone winning well, and losing well, winning poorly and losing even more poorly. Strong mind, iron will and self control- without, all is lost. Yet somehow we sleep at night... Well most of the time.
Nothing related to this type of "work" is for the faint of heart. Anyone who has been in a casino for more than 15 minutes has witnessed someone winning well, and losing well, winning poorly and losing even more poorly. Strong mind, iron will and self control- without, all is lost. Yet somehow we sleep at night... Well most of the time.
Tarzan is a professional player that I respect.
We have often made the rounds together.
He certainly knows of what he speaks.
The only reason that I can "relax" as so to speak is that I
have NO debts of any kind and I have a 6 figure bankroll.
If I was younger and had dependents, debts and obligations
I'd think very differently of my profession.
Hey !
Wait a minute !
I was younger !
I did think differently !
The younger I was the more distant was my event horizon
Age shrinks the time-lines and alters that phenomena.
The older I get the more insouciant I become.
Anxiously striving for a 'better' future occupies the youthful.
We have often made the rounds together.
He certainly knows of what he speaks.
The only reason that I can "relax" as so to speak is that I
have NO debts of any kind and I have a 6 figure bankroll.
If I was younger and had dependents, debts and obligations
I'd think very differently of my profession.
Hey !
Wait a minute !
I was younger !
I did think differently !
The younger I was the more distant was my event horizon
Age shrinks the time-lines and alters that phenomena.
The older I get the more insouciant I become.
Anxiously striving for a 'better' future occupies the youthful.
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A couple observations:
to nightspirit: of course the blog is down. It was orinally posted six months ago.
to Flash: as someone mentioned earlier, WHAT HAPPENED TO THE LARGE PRINT?? lol. did you get new glasses? I am 26 years old and now find myself going for MY glasses to read your "new" print. lol It's ok though. I also find myself heading toward webster's after most of your post's, including this one (insouciant). I should thank you for that. Expanding my Vocabulary.
to nightspirit: of course the blog is down. It was orinally posted six months ago.
to Flash: as someone mentioned earlier, WHAT HAPPENED TO THE LARGE PRINT?? lol. did you get new glasses? I am 26 years old and now find myself going for MY glasses to read your "new" print. lol It's ok though. I also find myself heading toward webster's after most of your post's, including this one (insouciant). I should thank you for that. Expanding my Vocabulary.