It may seem peculiar for a book on card counting to address compulsive gambling, but I've gotten too many letters through the years from players who have lost their life savings trying to beat the tables. I've been asked many times if I thought a compulsive gambler could learn to play blackjack professionally.
This used to strike me as a weird question; now I know that it's a question that is seriously pondered by compulsive gamblers. I have no way of knowing how many compulsive gamblers will read this book, but I suspect more than a handful.
If I were considered to be an expert on fine wines by those who appreciate fine wines, would I be asked: "Do you think an alcoholic could learn to be an expert on wine so that he could make his living by drinking?"
I suppose a compulsive gambler could learn to play blackjack at a professional level, to the same extent that an alcoholic might be able to make a successful career out of drinking. This is a bizarre world we live in, so anything is possible. I'm sure a sex addict could find work in porno films, and a psychopathic killer could get a job as an executioner.
Generally speaking, however, most addicts do best in life by learning to stay away from activities and environments that fuel their addictions. One problem that a compulsive gambler faces is that he is competing with professional gamblers (in most cases, casinos), who do not share his compulsion, and his competition will likely take advantage of his weakness, which means that he will have more than his share of losing streaks.. .and if you lose more than you win, are you still a professional? Let's define the players:
A professional gambler is a player who's willing to risk money on the outcome of the game, and who, by selecting only advantageous bets, wins more than he loses in the long run. In poker games, for instance, the professionals make a living by taking money from the amateurs. At the racetrack, the pari-mutuel betting system assures the track of making a profit, while the professional horse bettors beat the public. Likewise, a bookie, or any casino sports book, takes it's vigorish from both sides of the line, while the pro sports bettors beat the public at large. In all of these arenas, bettors primarily compete against each other, while the house rakes a percentage from everybody. In all of these types of games, compulsive gamblers contribute mightily to the share taken home by the pros. In a game like casino blackjack, however, the bettor competes with the casino directly. The casinos are themselves the largest class of blackjack professionals, as they always make money at this game, though there are a few professional players (mostly card counters) who beat the casinos.
But whether we're talking about individual players, teams, or casinos, any professional gambler will immediately put his money away the moment it becomes apparent to him that he no longer has the best of it. This is not an emotional decision to a professional gambler, any more than it is an emotional decision to a professional stock investor to pull capital out of one investment, and stick it in another, based on factors of estimated risk and expected return on investment.
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