Word: losely
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...retrospect, he says, he probably should have known that it was time to quit once his bankroll had dwindled to $500. But at the time, playing it out seemed like a fine idea: lose it all or win everything back. The lights flashing from his computer screen, the adrenaline, and the late hour made the whole enterprise seem like a video game—with dollars as the points system. How simple it seemed. And yet, how perilous: his entire bank account gone in the time it takes most people to get a good night’s sleep...
...always try to be very critical and keep the lookout…‘Okay, I lost money—did I put myself in a bad situation, or did I just lose money?’ ‘Okay, I won money—did I put myself in a good situation, or did I just get lucky?’ These are questions I ask myself everyday,” says Hawrilenko, one of the world’s best heads-up limit hold’em players. “People don?...
...greatly diminished the risk factor associated with compulsive gambling. “A lot of times, when people think ‘gambling,’ they think ‘gambling your savings away,’ or playing with money you can’t afford to lose. My cousin asked me the other day, ‘So, can you sit down at the table and lose your house?’ It’s a legitimate question, but it’s taken a while to explain to my parents that...
...losing—and a tolerance for losing—is also an essential aspect of successful play. Players at all skill levels will have both winning days and losing days. It’s the interpretation of these events that can make all the difference and constitute divergent perspectives on the game. As a general rule, wins on individual hands cannot be interpreted as indications of future success. Novices often fall into the trap of thinking that they are performing well when they make money on a particular hand. They focus on the intermittent rewards, rising and falling with...
It’s a determinist attitude with an interesting corollary. Novice players are known for chasing the rush of big swings, not understanding that professionals purposely buffer their losses with their bankrolls. They’ll swing $500 in a day to feel the adrenaline, lose the rush the week after, and bump it to $1000, looking to find the thrill again. For one Harvard undergrad who usually plays a couple hours of online poker a day, his approach to the game differs substantially from that of a professional. Upon the encouragement of his roommate, an experienced player...