I think the definition of NIT comes from this statement.
I think you should re read my post and think of it as wisdom. Gambling IMHO is a science where the smart gambler can control many aspects of the bet, and has more control over the out come.
Acceptable Win to Loss Ration in Gambling
- Thread starter Fast Lenny
- Start date
I think you should re read my post and think of it as wisdom. Gambling IMHO is a science where the smart gambler can control many aspects of the bet, and has more control over the out come.
My post was not going against anything you said and I agree with it. Just noted that the fine line of a 'super high percent' could be defined as nitty.
That is not the number that you look at. Actually 50% is fine as long as you don't go off when you lose. Hopefully when you win you bust the guy and when you lose you manage your lose sensibly. People wonder how you can walk in a place and offer good sized spots to people you have no idea how the play. The thing is, you know something they don't know. If you can't win you have no intention of losing much and will quickly begin adjusting the game. Where as they may go completely off with the spot. The odds are in your favor if you are a good player. Back to the W/L percentage thing. I remember Richie Ambrose telling me once after going broke, he won like 8 out of 10 time he went to the table maybe more. His problem was the other 10 or 20% where he went broke.
With correct money management anyone winning 50% of the time will be well ahead. The whole Idea is to manage your loses, sometimes they are even good advertising, and when you are winning, manage the game so you win the maximum. This will include being able to milk the guy with bigger and bigger spots to the point of diminishing returns. It is that simple. It is also very important you maintain the illusion you are a gambler while at the same time being a careful manager. This does not mean being a nit by the way. You have to be willing to play out a game to see if you can win, just don't be going broke. Especially not to a guy who you can't win anything from in the first place. Nothing worse then losing $500.00 to a guy, only to find out he had to borrow $50.00 to play.
Don't worry about W/L percentages.
How do you know you have the best of it until you play? Does that mean excluding all strangers? I can't tell you how many times I would get a call to come to the pool room because someone there wanted to play. After me beating the guy the other players would be kicking themselves for not playing once they see how the guy plays. They lost out on maybe a good win.
My rule was nothing more then this. I knew what speed player it took to beat me. The percentage of players that even play that speed keeps the odds always heavy in my favor. I don't care how the other guy plays because it know it takes a really good player, playing really good, to beat me. If he is that good, fine.
Honestly? Holy. Fukcing. $hit.
I think JoeyA has one of the best signatures of anyone on this forum:
"A NIT is someone who won't let you steal."
:yeah: :killingme: :yes: :rotflmao1:
I've always said that only one person is gambling in any one transaction.
Vegas doesn't gamble...they conduct business. Is there risk involved? Yes, of course. A smart "gambler" never plays a game that they don't have an edge on even if it's a .001%. That being said, they can still go broke if they don't manage their money correctly.
There is an old saying in the west about a crooked card game. A man tells his friend he is going to go play in a card game across town and his buddy tells him, "Don't you know that game is crooked?" He replies, "Yes." "Then why would you want to play in it?" He responds, "Because it's the only game in town."
A lot of truth to that statement especially in the addicted pool community.
Vegas doesn't gamble...they conduct business. Is there risk involved? Yes, of course. A smart "gambler" never plays a game that they don't have an edge on even if it's a .001%. That being said, they can still go broke if they don't manage their money correctly.
There is an old saying in the west about a crooked card game. A man tells his friend he is going to go play in a card game across town and his buddy tells him, "Don't you know that game is crooked?" He replies, "Yes." "Then why would you want to play in it?" He responds, "Because it's the only game in town."
A lot of truth to that statement especially in the addicted pool community.
Game
Jason ... You're right about only game in town sometimes. One example might be road player in town playing any and everyone, and guys will play him that are 3 speeds below him even. Another example is a player that gambles all the time, and others step up to play him when they already know they will lose to him, but it is the only action in town, right?
I don't gamble much anymore, partly because I don't go to play much anymore, and partly because the action is just not there, but I am at about an 85% win rate. I don't write down my wins and losses, just keep them in my head, but I also track win percentage for hill-to-hill sets, which is at 85 to 88% of the time. (which tells me how good I am under pressure).
I, usually, don't pursue getting action, and most of my action usually comes to me, which kind of gives me final word on how the match will be. And sometimes, the spot they will ask for is 2 balls off where it could be. I don't nitpick about spots, I simply tell them what I would give up, and if they play fine, if not, that's fine too. I am not a person that HAS to gamble all the time, but when I do play, I am usually in action.
Jason ... You're right about only game in town sometimes. One example might be road player in town playing any and everyone, and guys will play him that are 3 speeds below him even. Another example is a player that gambles all the time, and others step up to play him when they already know they will lose to him, but it is the only action in town, right?
I don't gamble much anymore, partly because I don't go to play much anymore, and partly because the action is just not there, but I am at about an 85% win rate. I don't write down my wins and losses, just keep them in my head, but I also track win percentage for hill-to-hill sets, which is at 85 to 88% of the time. (which tells me how good I am under pressure).
I, usually, don't pursue getting action, and most of my action usually comes to me, which kind of gives me final word on how the match will be. And sometimes, the spot they will ask for is 2 balls off where it could be. I don't nitpick about spots, I simply tell them what I would give up, and if they play fine, if not, that's fine too. I am not a person that HAS to gamble all the time, but when I do play, I am usually in action.
I have absolutely 0 tolerance for loss, that is why I don't gamble. I gamble a little a poker because that is how you keep score and any losses are the cost of entertainment. Playing pool is entertaining in and of it self and I don't need to bet to know if I won or lost.
Steve. <== Only bets on sure things when the fix is in.
Steve. <== Only bets on sure things when the fix is in.
It all depends on if I'm gambling or trying to make money.
If I'm gambling then I'd like to stay in the 80% win range.
If I'm trying to make money I would probably only win 10% of the time but actually take more. Some people might understand that.
If I'm gambling then I'd like to stay in the 80% win range.
If I'm trying to make money I would probably only win 10% of the time but actually take more. Some people might understand that.
I haven't beaten anyone in about ten years. I give up way too much weight and don't ask for enough. I have lost to almost every person I've ever played. PM me and I'll tell you where you can find me. Maybe I'll go 1-2963? I'll keep trying, I guess.
The only person I know that's lost more than me is MikeyFrost. We're just not that bright, I guess Mikey.
The only person I know that's lost more than me is MikeyFrost. We're just not that bright, I guess Mikey.
The old days !
The old days when a person could actually make a living playing pool my average was bout 85% winner...It was high because when we were on the road it was cause I had accumulated a list of three or four people that were known go offs so I was usually putting my money in the right spot getting odds on the money...I use to keep a journel & when I got enough names from a particular area from friends that kinda did the same thing then i would call up 1 of my road partners that hadn't really hit that part the country & we would go camp out a few weeks to a few months depending on how long it took..now it has dropped to about 60% winner since now I bet for the fun of it more than trying to make a living at it.
The old days when a person could actually make a living playing pool my average was bout 85% winner...It was high because when we were on the road it was cause I had accumulated a list of three or four people that were known go offs so I was usually putting my money in the right spot getting odds on the money...I use to keep a journel & when I got enough names from a particular area from friends that kinda did the same thing then i would call up 1 of my road partners that hadn't really hit that part the country & we would go camp out a few weeks to a few months depending on how long it took..now it has dropped to about 60% winner since now I bet for the fun of it more than trying to make a living at it.
i'm gonna change those numbers
Thanks for posting your bankroll, now I know what were gonna bet..seriously I used to keep my W/L written down and it looked like yours, for a while I dodnt book a loser, I couldnt afford to, but that was a life time ago, and my drive was different then too.
The past few times I gambled I'm winning 20% of the time but its agains much stronger players for very small $$$, I havent played for any real money in years, and right now I really dont feel like it, I have enough stress as it is and winning $5,000 aint gonna fix anything and losing it would just piss me off, so I'm not in action right now. I look foward to the day when my situation and mood is right to be in big action, when it is, I will play. I was in that mood 2 years ago but my back was so bad I xouldnt bet. Now my back is ok enough to play(with a 4-6 hr limit) but my mood is so sour I couldnt fade it. so I'm no action right now. Not even coin flipping. I wouldnt flip a coin for $1000 now<---thats a bad sign
I'm sure things will come right for me then I want to play Bartrum, he is my friend, I respect him 100% and want to play him, he knows about my back etc and will be fair with the huge amount of weight I need, But I just dont have any heart right now. I'm a honest guy and thats the honest truth. But I will play him someday-until then I hope he beats everyone he plays(I need him pumped upo for me).
I don't keep very good records of my gambling but remember my losses like the one to Roy Steffensen, nor do I keep my money in a pristine fashion or order. I keep track of my win-loss ratio by occasionally looking in my left pants pocket at the crumpled bills I have left. If I pull out a large handful of many bills with different denominations and can barely hold them in my hand, you should try to make a game with me. :smile: You don't want to play me for money when there are only a few bills left.
JoeyA
That is an excellent question. I suppose the answer depends on why you are gambling. If you gamble for a living then you had better win or be very good at "borrowing" money.
I used a system called Hi-opt I for blackjack, not the best system out there but all my brain could handle and enough to give you an edge over the house. 99% of the people I saw at the table had little clue what they were doing and were guaranteed to lose long term. So why where they gambling?
How many people would play Efren for $20 dollars just to say they played him, even though they have little chance of winning?
I used a system called Hi-opt I for blackjack, not the best system out there but all my brain could handle and enough to give you an edge over the house. 99% of the people I saw at the table had little clue what they were doing and were guaranteed to lose long term. So why where they gambling?
How many people would play Efren for $20 dollars just to say they played him, even though they have little chance of winning?
Thanks for everyone's input as from the poll I see some people are plenty okay with breaking even and some even losing as they look at it as experience and getting lessons I guess. I personally was taught to match up well and not to play unless it was at a worse of 50-50 but I know that at times I play a game where I am a 60-40 dog but it is pretty rare. Some will say you will never get better matching up like this but I believe lots of table time, watching good players and having a friend or 2 that will play cheap or for nothing and play hard works well also.
By my numbers for every $20 I lose I win a $100 so I am thinking those numbers are good, so basically 5-1 on the money. I should have put win and loss in a dollar perspective because I know you can win 80% of the time and still be a loser money wise if you win the small ones and lose the big ones.
By my numbers for every $20 I lose I win a $100 so I am thinking those numbers are good, so basically 5-1 on the money. I should have put win and loss in a dollar perspective because I know you can win 80% of the time and still be a loser money wise if you win the small ones and lose the big ones.