{"id":2118,"date":"2019-04-15T08:48:56","date_gmt":"2019-04-15T08:48:56","guid":{"rendered":"https:\/\/www.planet7casino.com\/?p=2118"},"modified":"2024-03-05T13:13:45","modified_gmt":"2024-03-05T13:13:45","slug":"inside-the-mind-of-a-good-gambler","status":"publish","type":"post","link":"https:\/\/www.planet7casino.com\/planet-strategy\/inside-the-mind-of-a-good-gambler\/","title":{"rendered":"Inside the Mind of a Good Gambler"},"content":{"rendered":"\n

The internet is full of information about how to become a great gambler<\/a>, how to win big at poker, and a whole slew of mostly infomercials touting a winning strategy product. But a system is not the most important factor for a good gambler. There are certain traits a gambler has\u2014both inherent and learned\u2014that contribute to his or her wins. The way a good gambler thinks has nothing to do with luck, and everything to do with the information, and how and when to act on that information.<\/p>\n\n\n\n

A Bad Rap<\/h2>\n\n\n
\n
\"gambling<\/figure><\/div>\n\n\n

When psychologists study the gambling mind, they mostly study gambling addiction<\/a>. There is a stigma associated with full time gambling, that it is a sin, a vice, or a disease which results in total ruin. While gambling addiction is a real thing, the motivation behind professional gambling is not governed by uncontrollable impulses or bad judgement calls. To really look into the psychology of professional gamblers, one much first look at the reasons why they gamble, and the motivations behind their bets.<\/p>\n\n\n\n

There are definitely those individuals who cannot stop gambling, and they are addicted to the thrill of both winning and losing; the buzz is there for both results. Professional gamblers do not work with emotion, they use reason and mathematical probability<\/a> to guide their betting decisions. You\u2019ll never hear about a mythical beast called the professional slots player. Slots are totally random, making them great for short term play, but not financially feasible for a professional to base a career upon.<\/p>\n\n\n\n

3 Types of Gamblers<\/h2>\n\n\n
\n
\"3<\/figure><\/div>\n\n\n

According to psychologist\/philosopher Dylan Evans<\/a>, there are\nthree basic types of gamblers. The first type of gambler is the poker star, the\nrock star of the bunch. The professional poker stars make their money in the\nlimelight, on the tournament circuit, in full view of the world. They love the\ncelebrity status, the thrill of being number one, and the psychology of the\ngame of poker. Poker is largely made up of psychological insights and\nexercises. The goal is to find the weaker opponent, figure out what cards he\nhas, and convince him your hand is better. The insight of \u2018the tell\u2019 and the\nart of the bluff are the tools of the trade. A poker star also has a colorful\nnickname like Amarillo Slim or Texas Dolly Brunson.<\/p>\n\n\n\n

The second type of gambler is the blackjack player. A blackjack player is applying a system to calculate mathematical probability. For every turn of the card, there is an appropriate type of bet to place in blackjack. A professional blackjack player<\/a> has already reasoned out the odds of winning in every type of hand dealt, and responds with a bet appropriate for that hand. This type of player does not think in terms of fast cash, but thinks of the long term goal of winning over time. Emotional thrills are not the main motivation for this type of gambler.<\/p>\n\n\n\n

The third type of gambler is the sports gambler. Not the\ncomputer-informed version who lives on the stats, but the old-fashioned, intuitive\nsports bettor. This is a special type of gambler who really lives for the game,\none who goes to the race track every day, for example, and figures out the\nprobabilities and racing odds, all in their heads. Then they apply this\nknowledge to win. This type of gambler uses what Evans calls \u201crisk\nintelligence.\u201d<\/p>\n\n\n\n

Risk Intelligence<\/h2>\n\n\n
\n
\"risk<\/figure><\/div>\n\n\n

The ability to gather information from a wide variety of\nsources and form accurate predictions based on probability is called risk\nintelligence<\/a>. In a simple online test, you can get a risk intelligence\nreport. Rather than an IQ test, this is an RQ test. While the familiar IQ test\ngauges your general intelligence and capacity for knowledge, the RQ test\nassesses your self-knowledge. It\u2019s not about what you know, it\u2019s about how\nconfident you are in that knowledge.<\/p>\n\n\n\n

We are taught facts, figures, and quantifiable information\nin school. But we are never taught how to apply reason to situations where the\nresults are unknown. By learning how to develop your risk intelligence, you can\nmake better decisions in the face of uncertainty. For the gambler, this means\nonly betting based on the confidence they have of a certain outcome. If the gambler\nsees a very small probability of winning a particular bet, they will bet\naccordingly, with a small amount\u2014or not at all. But when the odds are\nfavorable, and with the right amount of risk intelligence, a gambler can win\nbig with one or two carefully-timed bets.<\/p>\n\n\n\n

There\u2019s always another Race<\/h2>\n\n\n\n

The expert gambler doesn\u2019t think in terms of immediate gain. He or she is going for the long haul. A professional gambler doesn\u2019t get caught up in the hoopla of the moment. All those cheering people waving their arms and shouting around the roulette wheel is just a distraction. The skilled gambler looks for the type of game that doesn\u2019t depend on random chance to win and keeps on walking to a poker table or a blackjack table. And when the pro encounters the inevitable losing streak which is bound to happen, the professional gambler walks away then, too. There\u2019s always another race.<\/p>\n\n\n\n

Signal or Noise?<\/h2>\n\n\n\n

What separates the pros from the amateurs is in the way they size up a game. There\u2019s a lot of information out there in the Information Age, but most of it is just noise. Author Nate Silver wrote in his book, The Signal and the Noise: The Art and Science of Prediction<\/a>: \u201cEvery time we choose a route to work, decide whether to go on a second date, or set aside money for a rainy day, we are making a prediction about the future. Yet from the financial crisis to ecological disasters, we routinely fail to foresee hugely significant events, often at great cost to society.\u201d This statement explains how our leaders screw up so badly as the result of seemingly obvious warning signs.<\/p>\n\n\n\n

Most of the decisions made by those in power are motivated\nby short term gain. Why would a politician think of the future when they can\nmake out like a bandit now? This is exactly the kind of logical fallacy most\ngambling addicts make. They are unable (or unwilling) to see beyond the noise\nand excitement of the moment, and they make irrational choices which lead to\nruin, and they seem doomed to repeat them.<\/p>\n\n\n\n

A professional gambler is also motivated by personal gain,\nbut he or she has developed the ability to cut through the static and look for\nthe real signals out there. The mind of a good gambler concentrates on the\nreally important signals and ignores the noise. And when the signal is right,\nthey place their bets.<\/p>\n\n\n\n

Who\u2019s the Sucker?<\/h2>\n\n\n
\n
\"don't<\/figure><\/div>\n\n\n

In the game of poker, the name of the game is to spot the\nweaker players, read them, assess them, and beat them. At any given card table,\nthere are winners and losers. The old poker adage says that if you haven\u2019t\nspotted the sucker at the poker table in 30 minutes, you\u2019re the sucker. In\npoker, it isn\u2019t necessary to have the best cards to win. You only have to\nconvince everyone else at the table that you have the best hand. This is the\nart of the bluff, and this is what makes or breaks a professional poker player.\nThe psychology of his opponents provides the good gambler with information just\nas important as probability and statistics. A mastery of both is needed to\nsucceed.<\/p>\n\n\n\n

Conclusion<\/h2>\n\n\n\n

In the long run, the good gambler is able to separate\nfeelings from facts, and think of long term gains rather than short term\ntrends. The pro relies on risk intelligence over gut feelings. And a good\ngambler never doubles down during a losing streak in hopes of recouping losses.\nThe good gambler gathers his remaining chips, and comes back to gamble another\nday.<\/p>\n","protected":false},"excerpt":{"rendered":"

The internet is full of information about how to become a great gambler, how to win big at poker, and a whole slew of mostly infomercials touting a winning strategy product. But a system is not the most important factor for a good gambler. There are certain traits a gambler has\u2014both inherent and learned\u2014that contribute […]<\/p>\n","protected":false},"author":6,"featured_media":2119,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"yoast_head":"\nInside the Mind of a Good Gambler - Planet 7 Casino<\/title>\n<meta name=\"description\" content=\"We take a look into the minds of 3 common types of players you\u2019re likely to see on the casino floor. What makes a good gambler?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.planet7casino.com\/planet-strategy\/inside-the-mind-of-a-good-gambler\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inside the Mind of a Good Gambler\" \/>\n<meta property=\"og:description\" content=\"We take a look into the minds of 3 common types of players you\u2019re likely to see on the casino floor. What makes a good gambler?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.planet7casino.com\/planet-strategy\/inside-the-mind-of-a-good-gambler\/\" \/>\n<meta property=\"og:site_name\" content=\"Planet 7 Casino\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-15T08:48:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-05T13:13:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.planet7casino.com\/wp-content\/uploads\/2019\/04\/Inside_the_Mind_Image_1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1420\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nicola Davidson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@planet7_casino\" \/>\n<meta name=\"twitter:site\" content=\"@planet7_casino\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nicola Davidson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.planet7casino.com\/planet-strategy\/inside-the-mind-of-a-good-gambler\/\",\"url\":\"https:\/\/www.planet7casino.com\/planet-strategy\/inside-the-mind-of-a-good-gambler\/\",\"name\":\"Inside the Mind of a Good Gambler - Planet 7 Casino\",\"isPartOf\":{\"@id\":\"https:\/\/www.planet7casino.com\/#website\"},\"datePublished\":\"2019-04-15T08:48:56+00:00\",\"dateModified\":\"2024-03-05T13:13:45+00:00\",\"author\":{\"@id\":\"https:\/\/www.planet7casino.com\/#\/schema\/person\/5af8fafc56659814e830034b56daa46a\"},\"description\":\"We take a look into the minds of 3 common types of players you\u2019re likely to see on the casino floor. What makes a good gambler?\",\"breadcrumb\":{\"@id\":\"https:\/\/www.planet7casino.com\/planet-strategy\/inside-the-mind-of-a-good-gambler\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.planet7casino.com\/planet-strategy\/inside-the-mind-of-a-good-gambler\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.planet7casino.com\/planet-strategy\/inside-the-mind-of-a-good-gambler\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.planet7casino.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Inside the Mind of a Good Gambler\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.planet7casino.com\/#website\",\"url\":\"https:\/\/www.planet7casino.com\/\",\"name\":\"Planet 7 Casino\",\"description\":\"Planet 7 Casino\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.planet7casino.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.planet7casino.com\/#\/schema\/person\/5af8fafc56659814e830034b56daa46a\",\"name\":\"Nicola Davidson\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.planet7casino.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/802935d745b432ee689db687fd0a7cb7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/802935d745b432ee689db687fd0a7cb7?s=96&d=mm&r=g\",\"caption\":\"Nicola Davidson\"},\"description\":\"Nicola Davidson, a staff writer at Planet 7, is a semi-professional rock climber and lover of poetry and games of skill. When she's not scaling mountains or at an open mic night, Nicola enjoys writing about games like Blackjack and Three Card Poker and putting gaming strategies to the test.\",\"url\":\"https:\/\/www.planet7casino.com\/author\/nicola-davidson\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Inside the Mind of a Good Gambler - Planet 7 Casino","description":"We take a look into the minds of 3 common types of players you\u2019re likely to see on the casino floor. What makes a good gambler?","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.planet7casino.com\/planet-strategy\/inside-the-mind-of-a-good-gambler\/","og_locale":"en_US","og_type":"article","og_title":"Inside the Mind of a Good Gambler","og_description":"We take a look into the minds of 3 common types of players you\u2019re likely to see on the casino floor. What makes a good gambler?","og_url":"https:\/\/www.planet7casino.com\/planet-strategy\/inside-the-mind-of-a-good-gambler\/","og_site_name":"Planet 7 Casino","article_published_time":"2019-04-15T08:48:56+00:00","article_modified_time":"2024-03-05T13:13:45+00:00","og_image":[{"width":1420,"height":450,"url":"https:\/\/www.planet7casino.com\/wp-content\/uploads\/2019\/04\/Inside_the_Mind_Image_1.jpg","type":"image\/jpeg"}],"author":"Nicola Davidson","twitter_card":"summary_large_image","twitter_creator":"@planet7_casino","twitter_site":"@planet7_casino","twitter_misc":{"Written by":"Nicola Davidson","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.planet7casino.com\/planet-strategy\/inside-the-mind-of-a-good-gambler\/","url":"https:\/\/www.planet7casino.com\/planet-strategy\/inside-the-mind-of-a-good-gambler\/","name":"Inside the Mind of a Good Gambler - Planet 7 Casino","isPartOf":{"@id":"https:\/\/www.planet7casino.com\/#website"},"datePublished":"2019-04-15T08:48:56+00:00","dateModified":"2024-03-05T13:13:45+00:00","author":{"@id":"https:\/\/www.planet7casino.com\/#\/schema\/person\/5af8fafc56659814e830034b56daa46a"},"description":"We take a look into the minds of 3 common types of players you\u2019re likely to see on the casino floor. What makes a good gambler?","breadcrumb":{"@id":"https:\/\/www.planet7casino.com\/planet-strategy\/inside-the-mind-of-a-good-gambler\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.planet7casino.com\/planet-strategy\/inside-the-mind-of-a-good-gambler\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.planet7casino.com\/planet-strategy\/inside-the-mind-of-a-good-gambler\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.planet7casino.com\/"},{"@type":"ListItem","position":2,"name":"Inside the Mind of a Good Gambler"}]},{"@type":"WebSite","@id":"https:\/\/www.planet7casino.com\/#website","url":"https:\/\/www.planet7casino.com\/","name":"Planet 7 Casino","description":"Planet 7 Casino","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.planet7casino.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.planet7casino.com\/#\/schema\/person\/5af8fafc56659814e830034b56daa46a","name":"Nicola Davidson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.planet7casino.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/802935d745b432ee689db687fd0a7cb7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/802935d745b432ee689db687fd0a7cb7?s=96&d=mm&r=g","caption":"Nicola Davidson"},"description":"Nicola Davidson, a staff writer at Planet 7, is a semi-professional rock climber and lover of poetry and games of skill. When she's not scaling mountains or at an open mic night, Nicola enjoys writing about games like Blackjack and Three Card Poker and putting gaming strategies to the test.","url":"https:\/\/www.planet7casino.com\/author\/nicola-davidson\/"}]}},"_links":{"self":[{"href":"https:\/\/www.planet7casino.com\/wp-json\/wp\/v2\/posts\/2118"}],"collection":[{"href":"https:\/\/www.planet7casino.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.planet7casino.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.planet7casino.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.planet7casino.com\/wp-json\/wp\/v2\/comments?post=2118"}],"version-history":[{"count":0,"href":"https:\/\/www.planet7casino.com\/wp-json\/wp\/v2\/posts\/2118\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.planet7casino.com\/wp-json\/wp\/v2\/media\/2119"}],"wp:attachment":[{"href":"https:\/\/www.planet7casino.com\/wp-json\/wp\/v2\/media?parent=2118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.planet7casino.com\/wp-json\/wp\/v2\/categories?post=2118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}