If you have done some serious gambling, you have probably done it with scared money.
Most of the poker players I know have big bankrolls to back themselves up when they play. Some have financial backers while others operate businesses that provide a steady source of income to cover their day to day expenses.
But every now and then a player will find himself with his back against the wall and nowhere to turn. That is when he must either play with scared money or stay away from any casino action until his ship corrects its course and he can dip into his pockets without worrying about where his money is going.
What is scared money?
In a nutshell, it's money you can't afford to lose. During my many years of being a gadabout international journalist, there have been several times when I was forced to play with scared money. Once in Las Vegas, I was sharing a house with two friends. On a Friday morning, we found ourselves nearly broke. Our combined financial resources came to just $10 and there were no prospects of any incoming cash until Monday.
That is scared money...
One of my roommates said he could pick up some cash by donating a pint of blood to the county health system. I didn't like that idea. It was too gruesome and I told him so.
I made a proposition to my roommates. If they agreed, I would take the $10 and go to the Union Plaza Casino just off Fremont Street in downtown Las Vegas. I would buy into the $1-3 seven-card stud game (the lowest buy=in in Glitter Gulch, by the way) and try to win. Whatever I won, I would split three ways.
They agreed to my idea. I pocketed the money, we shook hands, and I headed for the Union Plaza. By the way, I do not recommend this approach to anybody. We were desperate and my knees were shaking when I walked into the poker room.
Nobody has ever played a tighter game of seven card stud than I did that day.
As the hours passed...
...my stack of chips kept piling up. I started playing at about noon and by 6 p.m., I was up to $600. By 10 p.m. I was over $1,000 ahead and I cashed in at midnight for more than $1,300.
Like I said, I don't recommend this approach to anybody.
There are too many things that can go wrong when you play with scared money. You play with the fear factor and don't call hands you should call when somebody raises. When you are not willing to take a chance of losing a hand, you miss out on miracle flops that will give you a winner.
Lady Luck is a brazen flirt
She will mock you when you fold a pair of 6's on a double raise and give the table a flop of 4, 6, 9 while the two raisers are holding pocket kings and queens. And then the Lady will wink and deal you a follow-up hand that you will fold and that will turn into a lock winner. If this doesn't rattle your confidence and judgment, nothing will.
I strongly urge my readers to never play with scared money. Wait until your financial situation improves so you can go into a game feeling like you are backed by at least $1,000 even when your bankroll might be less than $200.That will help put you in a winning frame of mind.
I know some gamblers enjoy living on the edge. I have been there and can understand their feelings. If they do decide to play with scared money, I wish them the best of luck and hope they turn their session into a big win.
At the same time...
...I know their chances of victory are just two -- slim and none. Scared money runs against the grain of what winning poker is all about. You need to exude confidence, not fear, at a poker table. The other players can sense fear and quickly pick up the smell of a player who is short on cash. You cannot blame them for taking advantage of that fear factor.
If you find yourself short of cash:
Don't take your scared money into a casino. Use the money on a mini=vacation. Do something you enjoy even if it's silly. It will give your mind time to rest and will build up the poker game within you. Then when you have the money to back your play, your game will be considerably stronger and you will have a real chance to emerge a winner.
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 ).
