People who face the greatest danger of losing their bankroll in a casino are the ones who have just won a lot of money gambling.
In my many years of being around casinos, I have seen it happen time and time again; a person gets lucky at the slots, blackjack, poker or some other game. Instead of spending the money wisely, they take the foolish path of trying to parlay their small fortune into an even greater one -- and they lose what they won along with a lot more.
These temporary winners are full of big ideas. The reason, 'I did it once and I can do it again -- only bigger this time.'
They are living a false hope and are setting themselves up for a meltdown.
When a gambler's pockets are bulging with money, he tends to lower his standards and starting requirements. That can be a fatal mistake in overcoming the odds. Let me give you an example.
A good starting hand to make a raise is A-K suited. But a player playing Texas Hold'em who has just won a significant amount of money decides to add cards to his raising hands. He is in position and raises with A-7 or a similar hand. An ace flops and he comes out betting against a player who is holding A-K or A-Q. The higher kicker kills his chances of winning the pot.
Instead of going back to his higher standards for starting hands, the player shrugs off the loss -- after all, he has a lot of money. And he continues relaxing his standards until his bankroll shrinks dramatically. He eventually winds up broke and wonders how it happened.
No matter what your game is -- Texas Hold'em, Omaha High-Low, seven-card stud high low, or blackjack -- you must set your standards high and stick to them. Any other play except sheer deceit is a losing proposition.
The more pots a person plays, the more peril he places his bankroll in. He becomes intoxicated by the action and he continues until he is broke and needs access to the nearest ATM.
Nobody can force the right cards to come to him. What the cards give can be taken away and there is little you can do about it.
After a big cash win, relax and be thankful for your good luck. Spend at least some of your winnings on meaningful things. Pay off an old loan, buy things you need for the house, go on that trip you have always wanted to take, and be generous with your family. You have the money now, so spend it where it will do you and others close to you the most good.
Just as it rains on the just and the unjust, good luck can vanish as quickly as it came and it can be hell to get it back.
When you are on a winning streak, don't be afraid to press your luck. Stay at that table until your luck changes.
I once won 14 straight sessions playing poker. Night after night, I could do no wrong. It happened at the Rivers Casino and it drove my playing opponents a little crazy. Some of them had gone to high school with me and they complained to my brother about my good luck. One sneered, 'He's winning because he plays nothing but the nut hands.'
Huh? Really? Let me change that. I played some hands that were not nut hands, but they turned out that way because my lucky streak was continuing. Good luck overpowered me like a rainstorm saturating a dry desert.
Remember to never lower your starting hands or your standards. And when you find yourself winning, ride it all the way to the end.
Author: Geno Lawrenzi Jr.
(Geno Lawrenzi Jr. is an international journalist, magazine author and ghostwriter and poker player who lives in Phoenx, AZ. He has published 2,000 articles in 50 magazines and 125 newspapers. If you want to share a gambling story or book idea with him, send an email to glawrenzi@gmail.com ).
