Word: player
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...you’re really screwing around with other people’s money,” Ian says. “To be blunt, a lot of them really don’t have enough of their own skin in the game.” Though some poker players might be capable of beating a bigger game, they don’t move into higher stakes because they know that their bankroll can’t withstand the variants, he says. One of the biggest mistakes a novice player can make is to be too bold, too early...
...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...
...That hurt,” he recalls. But the month before, he had won $700,000. And the month following also proved fruitful. Hawrilenko never totally depleted his bankroll that year—a “great year,” in fact. A seasoned player, Hawrilenko had the funds, the temperament, and the knowledge to buffer the loss of even a million dollars. In the long run, he knew, it was just a bump in the road...
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...
...particular, Michigan is moving to import out-of-state prisoners and even alleged terrorists who are detained by the Federal Government at Guantánamo Bay, Cuba. The effort could make Michigan an unlikely player in the increasingly lucrative business of transporting prisoners across borders. Already, several states grappling with overcrowded prisons - including California, Pennsylvania and Vermont - spend millions each year sending inmates to private and public prisons in Arizona, Oklahoma, Mississippi, Tennessee and elsewhere. (See TIME's photo-essay "The Remains of Detroit...