Right Time to Quit
It's an age-old
question. When have you made enough money to lock
up your winnings for the day, and when is it time
to cut your losses and throw in the towel? This
extremely prevalent question is generally looked
at so illogically by people who are otherwise sensible
and logical, yet it has such a simple answer. That's
because determining if it's time to quit has nothing
to do with whether you're winning or losing! An
excellent example can be taken from the highly skillful
game of poker.
Suppose you sat down at a casino poker table with
a crew of total strangers. After half an hour you
realized you were playing with a table full of world
class professionals. You were by far the weakest
player, but you had made a couple of key hands and
were winning. What should you do?
Since you'll almost certainly be beaten senseless
if you continue to buck heads with them, you should
definitely quit right now! And what if you were
already losing? Same answer! Get out of there ASAP
before they bleed you dry!
Now let's reverse it and say you've discovered you're
playing with a bunch of complete suckers. You're
head and shoulders above them all, but you've taken
a few tough beats and are getting slaughtered! What
should you do now?
Since you outclass the field, the "cream will
eventually rise to the top" if you stick with
it, so you should stay even though you're losing.
And what if you were already winning? You're highly
likely to keep right on winning, so again stay put!
Can you see that whether you should quit or keep
gambling has nothing to do with how much you're
winning or losing? Here are the sole determinants:
A) If you have the edge, you should always keep
B) If you're the underdog, you should never have
started, so quit right now!
Since it's impossible to accurately guess how fickle
Lady Luck will behave over the upcoming short term,
your best estimate is always based upon your odds
to win from this point going forward. If you're
"stuck like a pig" and feel as though
getting even is hopeless, then forget about getting
even! Your only question should be, "If I continue
to play, am 1 likely to win something starting right
now?" If you're still playing right and the
game conditions remain okay, your chance to pick
up a few bucks starting now are just as good as
they will be tomorrow or next week!
On the other hand, if you've been psychologically
handicapped by the beats you've taken and can't
shake it off, then you'd better pack it in before
you do something to beat yourself. Just understand
that you will have lost your edge as a result of
your own doing and; THAT'S A PERSPECTIVE YOU NEED
TO WORK ON!
As for predicting the future, there is no curve
to look at when you're winning that will tell you
when it's over. There is no "support level"
at the bottom that will predict a Online Blackjack
Games free-fall. That stuff is all in your head!
Remember, whether you keep on playing or quit and
come back in a month, to the cards and the chips
it's just the next hand. And all your hands will
simply piggyback end to end as if it was one long
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from Behind Is More Difficult Than You Think
see why this is favorable, imagine this hand came
up three times. You are supposed to win one time in
three, so that one time, you'd win $1,300. On the
two losses, you'd lose $300 each time, so you would
come out ahead a net $700. That makes this a very
easy and favorable pot odds call.
If the pot had contained only $600, you'd be indifferent
about making the call: You'd be risking a $300 call
to win $600, exactly the 2-1 odds against you making
the hand. Again supposing the situation occurred three
times, you'd have two $300 losses, and one $600 win.
You'd break exactly even. As long as the pot is greater
than $b00, you are making a bet you would love to
make all day long.