Investors and business owners often think in terms of assets. When you own a stock, you have an asset. You can sell the stock for money, and if you own a stock that pays dividends, you profit from holding the stock every year.
Businesses create assets by building their customer base, investing in marketing and products, in hopes of making more money than they spend. If you’re in business, you want to continue building assets to increase the amount you can make over time.
As a gambler, you need to start thinking about building assets as well. Most gamblers never think about building an asset. They simply gamble when they have money and never do anything to improve. If you want to figure out how to be a winning gambler, you need to start thinking in terms of assets right now.
Your biggest asset is your brain. You can use it to find games you can beat, and use it to become a long term winner. You build your gambling brain by building your gambling library and your gambling network. Learn how to build these three gambling assets below.
1 – Your Gambling Library
The first mistake most people make when they hear or read something about a gambling library is that it only includes books. Books are a great place to start, but your gambling library can and should include videos, links to online resources, magazines, and any other resource that helps you win.
I own somewhere around 200 gambling books and probably at least as many magazines. I also own DVD videos and have saves links to good online articles, videos, and gambling resources.
I prefer reading when I want to learn something, but also use other types of learning to make sure I’m not missing something I need.
In addition to the books and videos and magazines I have in my library, I also have read many more gambling books and articles over the years.
I recently had a conversation with a friend of mine. We both have been gambling for years. He has a friend who’s always looking for a shortcut, or easy way to beat the casinos. I told my friend to tell him to do what we did. We found every book we could on gambling and read them. This is how we learned to be winning gamblers.
It takes quite a bit of time to find and read good books about gambling, but in the long run it’s one of the best ways to learn how to win. Once you find and read a broad range of gambling books, you can start adding other resources to your gambling library, like video and courses.
The first thing to build is broad range gambling information. Learn about how the casinos, poker rooms, and sportsbooks make money. Make sure you understand the house edge and how it works. Then learn more advanced concepts like expected value and how odds work.
Once you master your overall gambling knowledge, and then start digging deep into the game that interest you.
I own books about almost every type of gambling and casino game, but most of my library covers blackjack, poker, and sports betting. These are the three areas that interest me the most and they’re also the three areas where you can get a long term edge.
I’ve never counted, but I’m sure I’ve read somewhere between 50 and 100 books about poker, and at least 25 books about blackjack. It took me several years, but because of my gambling library and consistent work I’m a winning poker player and know how to beat blackjack by counting cards.
Gambling books can be expensive, especially if you buy them new. I buy most of my gambling library used, because the information is just as valuable in a worn copy as it is in a new one. If you can’t afford to buy a bunch of books at one time, pick up a used copy of the best ones and add to your library over time.
2 – Your Gambling Network
This one is often overlooked or ignored, because winning gamblers tend to stay to themselves. Your network of people you know who gamble can be quite important. When I was working to build my poker knowledge and improve my results, I had a small group of poker players I talked to all of the time. We talked about strategy and particular plays, and everyone was able to learn from each other.
It’s not easy to find advantage gamblers who’re willing to share their secrets with you. You need to develop your skills and knowledge enough so you can bring something to the table.
And even if you do find a few advantage gamblers you can add to your network, there isn’t going to be much deep level stuff exchanged. But this is ok, because sometimes it’s helpful to just talk about things that no one else seems to understand.
Another thing that a large gambling network offers is the chance to place sports bets without paying vig. If you know a bunch of people who bet on sports, you can often place bets with them instead of using a sportsbook.
When people hear the word network today, many of them think of social networks like Facebook and Instagram. While there’s nothing wrong with these types of social networks, the danger is that you end up spending too much time socializing and not enough time improving your gambling skills. Don’t fall into the time wasting trap.
You can look for places where gamblers already have a community or network, like online forums and groups, but I recommend developing your own network.
It doesn’t have to be anything official; you can simply start talking to people you already know who gamble and share information.
Keep adding people to your network as you meet new people, and stay in contact with them over time. Once you learn how to be a winning gambler, you can start taking a few people under your wings that are eager to learn. This is one of the best ways to build your gambling network.
3 – Your Gambling Brain
I mentioned in the opening that your gambling brain is your most important asset. I use my brain to beat poker players and count cards at the blackjack table. I had to train my brain with a great deal of study and work, but the benefits last a lifetime.
Everything you learn using your gambling library and your gambling network can pay dividends for the rest of your life. When I read a new gambling book, if I find a single piece of information that helps me improve it can be worth a great deal of money in the future.
Advantage gamblers are always looking for an extra edge, and this is the way you need to think. Every time you can learn something that gives you an extra edge, even if it’s a small edge, is valuable.
Here’s an example of how I found many small edges that work together to change from a losing poker player to a winning one:
The first important thing I learned as my poker career progressed was how important table position is and how to use it. Then I learned what pot odds are and how to use them. Learning about pot odds lead to learning more about expected value, which has been worth thousands and thousands to me over the years.
I then learned how important table and opponent selection is and the value of playing a style opposite of the rest of the table.
All of these things were small improvements on their own, but when you add them all together it changed my game a great deal.
And now that I know and understand all of these things I can use them every time I play poker for the rest of my life.
Blackjack players can follow the same type of learning curve. Learn everything you can about blackjack rules, and how to find tables with good rules. Learn how to use the best strategy for every hand next. Then learn how to count cards, and how to do it without getting caught.
It takes time to build your gambling brain, but it’s worth it. Most gamblers lose in the long run because they don’t make a concentrated effort to build their gambling brain. Don’t do what losing gamblers do. Start building your gambling brain asset today and you’re going to start seeing results soon.
If you want to be a winning gambler, start looking at it like investing or running a business. Concentrate of building valuable assets every day. Start with your gambling library and expand it as you learn more. Build a gambling network of people you can learn with and keep looking for new gamblers to add to your network.
Use both of these gambling assets to continuously build your most important asset; your gambling brain. Everything you learn can be used for the rest of your life, so every small piece of knowledge is worth a great deal.
Michael Stevens has been researching and writing topics involving the gambling industry for well over a decade now and is considered an expert on all things casino and sports betting. Michael has been writing for GamblingSites.org since early 2016. ...
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