I thought Bob's article was really good also.
However I'm not sure I agree that that you need "good" math skills to do the types of calculations he references. I do and have done those types of calculations for most of the many years I have played video poker and math is definitely not my strong suit. And while those types of calculations are necessary to get either even with the casino or build a slim edge, I would argue that if your goal is to establish or recognize a significant edge against the casino or book, you don't need just good skills, you need extraordinary skills.
If you think about what it takes to recognize an advantage opportunity before everyone else, including those offering the wager, you need, among other things, to be highly skilled at both mathematics and probability, and these days, be able to develop sophisticated software programs using both. If you think about those that developed the first basic strategy for blackjack or video poker, or someone like Mike Shackleford who develops strategies and returns for the really complicated VP games that have come out in recent years, or those that are doing well in sports or fantasy sports betting, these are people who have math, probability and computer programming skills that are far beyond what the vast majority can master or comprehend. Yet I believe that is what is needed to find a real advantage opportunity, and be versatile enough to be able to move on to the next real opportunity once the window closes on the first one--as it inevitably will.
I understand that my capacity for math and probability would prevent me from becoming a successful professional advantage gambler, and am perfectly content as a recreational enthusiast who is a little ahead (so far anyway).
I also understand Bob's audience for this column is people just like me, and for that group I think his advice is spot on.
I enjoy reading your columns Bob. Keep them coming!
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Posted by: rob ried <rreid01@yahoo.com>
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