I have just returned from my session at MBS. Today was a looonnnnggggg session. I spent nearly 6 hours at the tables, going back and forth. At one point, I felt like I was going nowhere, win a unit, lose a unit, win 2 units, lose 2 units. It was draining and I felt like just whacking a huge amount on Banker and hope for the best.
Two years ago, I probably would have done just that. Two years ago, I might not have even lasted 6 hours! I would have kena killed in about 2 hours. Luckily, experience has taught me not to bet wildly, and to stick with my game plan. I fought the urge to play with my heart and do silly things. In the end, the discipline paid off and I walked to the cashier cage 8 units richer! 🙂
Today’s session reminded me of the value of one of The Most Important concepts of successful gambling…
How to win in a casino?
EVERYONE who has ever stepped into a casino has asked himself/herself this question. “How do I win in a casino?”
The simple answer is to have a solid PLAN before entering the casino. Have a proven gambling strategy. And STICK TO IT!
Yes, you can win on blind luck alone. However, statistically speaking, you will lose more than you win. If you do win, do you know when to walk away? When you lose, do you wait until all your money is gone before leaving?
You see, most people have no plan when they enter the casino. A plan can be as simple as ‘having fun’. It does not necessarily have to be to win money. Unfortunately, many players go to the casino with a pocket full of money and jump from table to table until all their money is gone. The worst players who lose the most enter the casino hoping to win all of its money and to bring the casino down overnight. :pinch:
Gambling is a Journey
Like business, marriage, and many other big things in life (including life itself), to me, gambling is a journey. A long journey which ideally, has to be clearly planned out; what do you want to achieve or make, goals, how you’re going to get there ect.
Lao Tzu once say “A Journey Of A Thousand Miles Begins With A Single Step”. Slightly implying that one should “Just start. And take one step at a time.”
However, what he didn’t tell you is that sometimes (especially with gambling), The Journey Could End Very Very Badly…
Very few successes in life happen by accident. Success at anything starts with a goal and then a plan is developed around it to determine the steps required to achieve that goal. Successful people create plans and follow it instead of running about aimlessly and making decisions at the spur of the moment.
Take some time to think about the successes you’ve achieved in your life thus far. It could be success in your business, your studies, your finances, even your family. For each of them, did you envision success? Did you have a mental plan that led to your success?
If so, why should gambling be any different?
You don’t expect to simply dump money into your own business and hope it will become a huge multi-national corporation without any strategy. However, you see people dump insane amounts of money on the casino tables every day, hoping that they can somehow become professional gamblers and make millions.
Each gambler plays at their own comfort level. Some players might have a bigger appetite for risk, while others are happy betting small and keeping things stress-free. Some are willing to sacrifice a number of small losses in favor of a huge win, while others might prefer winning small amounts consistently every visit to the casino. Your personal gambling strategy will depend on your personality.
In developing your gambling strategy, you plan for all contingencies. Be realistic. Being realistic means that your rules must consider and foresee all possible outcomes which may include best scenarios, worst scenarios and unexpected scenarios.
Formulating your personal Gambling Strategy
Here are some questions that you could ask yourself as you formulate your personal gambling strategy plan.
- Am I planning to quit my job and make a living off gambling?
- How much would I want to make in one year, three years, and five years?
- What specific milestones and accomplishments will I need to achieve?
- What resources (money, time, etc.) will I need to achieve them?
- What if I lose?
- How much bankroll do I have?
- How many hours a day/week will I spend gambling?
- How often will I gamble?
- How will I manage my winnings, will I reinvest the winnings into my bankroll or will I enjoy the winnings by buying luxury items and good food? Perhaps a bit of both?
- Will I want a secondary bankroll in case my primary bankroll depletes?
- What will be my daily target goal?
- What will be my daily stop loss?
It might seem overwhelming, but trust me, it is worth the effort.
Critics will say that gambling is simply based on luck. There can be no planning involved. These are the people who feed the casinos day in and out, simply accepting that mentality. Meanwhile, a small number of professional gamblers enjoy the money that everyone else lose because of their ‘bad luck’.
Professional gamblers do not just become successful accidentally. They all have a good gambling strategy which they took effort and experience to construct. They also have a long term plan mapped out.
To me, one of the most basic and important factors to win in a casino, is having a plan. So, spend the time now formulating your goal and your action plan for achieving it. Write down your plan and your gambling strategy.
Sure, your strategy will change over time; it is not set in stone. You might have a long winning streak, you might have a long losing streak. But you must create it (and continually modify it) if you expect your gambling journey to end with the success you desire.
You may still make mistakes because there are flaws in your gambling plan. However, always know that a bad plan is better than no plan. You can always review your plan and improve on it later on. Remember:
If you Fail to Plan, you Plan to Fail.