#johnnychan

...,everyone dreams of it happening. It's why countless people buy lottery tickets hoping to match their numbers to the spinning ping pong balls, endlessly pull the handles on slot machines waiting for that huge jackpot, or invest in stocks looking for the next Apple or Google. Despite the long odds for success, it's still the #1 reason millions of people continue to flock to Vegas and casinos every year throughout the world...hoping to hit it BIG.

Why is it so difficult to achieve this elusive goal? Likewise, finding even periodic success let alone maintaining any sort of consistent measure of winning over an extended period of time appears unattainable. To someone who only holds a marginal level of understanding or views gambling through a very narrow window, the answer seems simple. For table games or sports betting, he/she might say, “No one can win at these games, at least not long term,” because “the odds are skewed in the house/sports book’s favor.” With poker, a game where the house has no influence on the outcome, other detractors might say, “It’s all just luck. That’s the only way people can win.” Of course there is some truth to those statements. You would be foolish to ignore or disregard the inherent advantage that the casino and odds makers built into those games. And there’s no denying luck is and always will be a part of poker. The turn of the next card could very well determine whether someone wins or loses while players are helpless unable to affect this uncontrollable event.

Nonetheless, I’m here to say, not so fast. If these folks were 100% accurate in their assessment, then explain the existence of those who are completely reliant upon such unreliable sources as their sole means of income and survival. If the games were designed to never allow anyone to come out on top and all of it was based on luck, then how do some thrive and flourish in this environment? There are plenty of examples out there of well known gamblers such as Johnny Chan who went from complete obscurity to one of the biggest names in poker.

He wasn't a one hit wonder either. He has sustained his success over many years, now 56, starting from when he moved to Las Vegas to gamble professionally at the age of 21. Now, I’m not saying that everyone who possesses the skills and know how will turn out to be millionaires because that’s not realistic and simply untrue. Those individuals are definitely fewer in number. However, there are people I've personally spent time with and played alongside that aren't your household names and you wouldn't be able to tell the apart from any other person on the street, but they live quite comfortably while gambling for a living. They are the ones that most closely resemble the general gambling population and who provide a map to this career and lifestyle.

What’s important to remember is that luck and unfavorable odds only make up a portion of the larger picture and are hardly the deciding factors when it comes to winning and doing so consistently. There are other critical aspects that must be taken into account. Some of these are normally common sense tactics that should and could be done on a regular basis such as setting goals, being disciplined enough to recognize streaks and trends, then capitalizing on those upswings or minimizing the damage on the downturns, and understanding time and money management principles, just to name a few. Unfortunately for most, these qualities are often under utilized or overlooked all together. Of course, it should go without saying, but to be absolutely clear and limit confusion, it is also a requirement that one be able to grasp basic game play strategy, understand the corresponding concepts, and puts in the time to perform the necessary research especially when it comes to something like sports betting. However, I would argue that the latter would fall lower on the list of things to master compared to the practical skills noted earlier. More sophisticated game knowledge and strategy will come with time and repetition. Focus on being diligent and disciplined in the other capacities and the sky is really the limit.

As we move along, you’ll see that we've really only touched the tip of the iceberg. I plan on expanding on each of these pieces in separate posts, but I wanted to emphasize that not only is it possible to succeed at gambling, but there also is a framework for how you could begin your ascent toward the level of professionals like Johnny Chan and other established gamblers. Hopefully, these insights will act as the building blocks for a solid foundation of future success.

  —- theCalculatedGambler