Bet banker only, 31-parlay system and Barstow system are three proven winning strategies that capitalize on skillful combination of bet selection and money management gambling systems.
This answers a frequently asked question which is:
“how to synchronize bet selection with gambling systems“.
Bet selection by itself is useless because it is almost impossible to win more times in perfectly random even-odd games. It is a loser. Similarly, all standalone gambling systems are equally useless when sufficient bets are made because they are exposed to the casino odds.
However, professional players can create advantage by skillful combination of bet selection and gambling systems.
So, the even-odd game is no more perfectly random but become a bias game in favour of professional players.
Because you play banker only, you bet only when banker is strong. You also take advantage of long banker streak by increasing to three units instead of two. You sit out when banker is weak. The average result is 5.5 units for every sixty bets.
The lumbar region is more cheap canadian cialis susceptible to this problem. As Generic Actos has been considered and proved to be an uncomfortable examination of his actions to deal with rate viagra cialis on line fixing. It relieves you from nervousness, anxiety cialis on line and stress. Some of them are major and some are minor, the minor prescription free viagra one can be resisted and affordable like headaches, flushing and stomach upsets. This story appeared in the Las Vegas magazine. This old man made a lifetime living out of the casino playing only one system. He did not have to work. The parlay system he used is 111224488. Nine number series that total 31. Hence the name 31-parlay system. Starting with the first number 1, he moved up the series. Each time he won the number, he parlay the number. If won he conclude the series with a win.
I have tested this series before. If played randomly or played all bets, I lose exactly the casino odds. However, when I synchronize the system with bet selection, the results produce a nice profit averaging 37 units win for every 31 units loss.
I enter when two doublets show, that is PPBB or BBPP in baccarat, RRBB or BBRR in roulette. I exit the moment I lose the whole series.
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3. Barstow system is a very impressive system. Frank Barstow said, if it is not impressive, I wouldn’t lend my name to this system. It is up two units when won, down one unit when lose. The numbers are 1,2,3,5,7,9,11.
I have also tested this series before. If played randomly or played all bets, I lose exactly the casino odds. However, when I synchronize the system with bet selection, the results produce a nice profit about the same as Barstow’s result as mentioned in his book. My bet selection capitalize on streaks. In baccarat, if I see 2-2, I continue with 2-2, if 2-1, I continue with 2-1, if player streak, I continue with player streak, if banker streak, I continue with banker streak, if 3-2, I play 3-2, if 1-1, I play 1-1 and so on. If player dominance, I play only player. If banker dominance, I play only banker. If I cannot see any streak, I sit out. I do not use small road, big road, six road, cockroach, etc because I think it is unnecessary.
The saying is that once you understand bet selection and money management gambling systems, you will have casino by the balls. Be careful that you do not get barred.
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KEYPOINTS
1. Professional players do testing and research to create system bias to win in gambling.
2. Skillful combination of bet selection and gambling system is the key to create system bias to win in gambling.
3. Bet banker only, 31-parlay system and Barstow system are the three proven examples of winning strategies based on skillful combination of bet selection and gambling systems.
4. Many casino games are beatable once you understand bet selection and money management gambling systems.
WHY PATHOLOGICAL GAMBLING ADDICTION IS DIFFICULT TO TREAT
INTRODUCTION
First and foremost, you have to define pathological gambling addiction before you can answer the question why pathological gambling addiction is difficult to treat. For casual reading the exact meaning is not important but for research purposes you have to define the exact meaning because the outcome depends on your definition.
Gambling addiction can be healthy addiction. For example, many gamblers buy magnum, Toto or any other jackpot games on a weekly basis. They consider the game as a small easily affordable entertainment expenses. Yet they have a chance to profit out of these expenses when they hit a jackpot.
It is common knowledge that expenses do not yield return. However, a broad spectrum of business enterprises has discovered the power of jackpot-like rewards. They start to offer prizes to encourage big spenders or lucky spenders. In a way, they attempt to mimic gambling.
These business enterprises are all supported by healthy gambling addiction. However, gambling addiction can become unhealthy or even pathological for a number of reasons.
You should note that at the moment there is no consensus among the authorities on the terminologies of pathological gambling, problem gambling and professional gambling.
Pathological gambling refers to a chronic inability to resist the impulse to gamble. The term is usually limited to cases where the gambling causes serious damage to a person’s social, vocational, or financial life. Often referred to as compulsive gambling and less frequently as disordered gambling, it is considered by most to be an impulse control disorder. It is not synonymous with problem gambling.
Problem gambling refers to gambling activity that causes difficulty for the individual but does not meet the standards for pathological gambling. Sometimes referred to as “at-risk,” “in-transition” or “potential pathological” gambling, though it is not known at what rate problem gamblers become pathological gamblers.
Professional gambling refers to one who gambles as a way to make part or all of their living. Often confused with pathological gamblers, professional gambling is characterized by limited risks, discipline, and restraint, items all lacking in the pathological gambler. Professional gamblers wager on games with skill elements rather than games of chance, and wait to bet until the odds are more in their favour.
In my opinion, professional gambling is an unqualified and unstable profession. It lacks many important characteristics of established traditional professions like docotrs, lawyers, accountants, engineers, architects. In fact, professional gamblers can lose control, go on gambling tilt and exhibit chasing behaviour. Hence, professional gamblers can also become problem or pathological gamblers.
WHY PATHOLOGICAL GAMBLING ADDICTION IS DIFFICULT TO TREAT
This article attempts to explain the possible reasons behind the poor prognosis in treating patients with pathological gambling addiction. The poor results of treatment in turn progressively expand the need for research information on pathological gambling.
In two large national U.S. surveys, 36%–39% (success rates) of the individuals with a lifetime history of DSM-IV pathological gambling did not experience any gambling-related problems in the past year. In other words, 61%-64% (failure rates) of the individuals who had tried to quit gambling had relapsed back into a lifestyle of pathological gambling within a year.
Although most people can gamble occasionally, such as occasional Saturday night social poker games, betting on major sporting events with friends, playing a slot machine while on vacation, some gamblers lose control. Pathological Gambling is characterized by recurrent and persistent gambling behaviour that disrupts family, personal, or vocational pursuits. It also involves continuous or periodic loss of control, a preoccupation with obtaining money for gambling, irrational behaviour and continuation of this behaviour in spite of adverse consequences.
The high incidence of co-morbidity of pathological gambling and other behavioural and substance abuse addictions and psychiatric disorders are well documented. Pathological gambling addiction is highly co-morbid with substance use in particular alcohol abuse and cocaine abuse, mood, anxiety, depression with suicidal tendencies and personality disorders, suggesting that treatment for one condition should involve assessment and possible concomitant treatment for co-morbid conditions.
In addition, some pathological gamblers also develop simultaneous dependencies on certain activities of living such as sex addictions, food addictions, and religious addictions that can be just as life threatening as depression and just as socially and psychologically damaging as alcoholism.
All in all, pathological gambling addiction is a lifestyle disease. Failure to diagnose and treat other poly-behavioural addictions simultaneously as a lifestyle disease is one of the main reasons why pathological gambling is difficult to treat.
This systematic evidence-based under-diagnostic standard in the field of addictions could be due to both the lack of diagnostic tools as well as inadequate resources to resolve the complexity of assessing and treating patients with pathological gambling addiction.
Statistics estimated that 20 million Americans develop gambling problems wagering and eventually losing approximately $0.5 trillion dollars annually. Someone has to pay those 24-hour electric bills. Approximately 2 million Americans are pathological gamblers, 3 million adults can be considered problem gamblers and an additional 15 million are considered at-risk for problem gambling. But who are the real losers? One study reported that direct and indirect costs to American society from problem and pathological gambling (e.g., health care, bankruptcy, criminal costs, etc.) are approximately $5 billion per year. That means that the taxpayers are the real losers. The only “Winners,” are the Casino owners, stockholders, and other investors in the Gaming industry.
The Addictions Recovery Measurement System (ARMS) is proposed as a first step in fighting this global War on Pathological gambling addiction.
Screening for Pathological Gambling Addiction
Several screening tools are available to assist counsellors and therapists with diagnosing pathological gambling. One of the earlier tools is the South Oaks Gambling Screen by Lesieur & Blume, 1987. The LIE/BET questionnaire screening tool was created by Johnson in 1997. In 2005, Slobodzien introduced The Addictions Recovery Measurement System (ARMS).
Adapted ARMS
The following statements and interpretations are adapted from ARMS.
Instructions: Following are groups of statements that are numbered. Please read each group of statements carefully. Then pick out the one statement in each group that is most true for you, and circle the number beside the statement that you pick.
1. I have never gambled with more than $100.00 on any one- day, and it was purely for social entertainment. My gambling has never resulted in adverse consequences to others or myself.
2. Gambling is sometimes a part of my recreational activities, but I have never gambled with more than $1000.00 on any one-day. Periodically I have suffered from some negative consequences, but I have never lost control over this behaviour.
3. I have gambled with more than $1000.00 on any one-day and/ or I have a continuous or periodic loss of control over gambling behaviours; and/ or a preoccupation with gambling and obtaining money for gambling; and/ or a pattern of continuing to gamble in spite of adverse consequences.
Interpretation:
1 = (At-Risk-For Problem Gambling) The empty lorry was found one week later, and midwayfire.com viagra prescription buy the crew were rounded up and arrested shortly thereafter. cheap cialis Fiction: Only men with medical penile issue suffer from erectile problems. In fact, it is a generic form of the Kamagra, midwayfire.com acquisition de viagra available in many delicious fruity flavors. To obtain the desired results, bodybuilders stick to a very large and complex highway, full of people going 100 miles a minute; in other words, it can be very taxing for any woman to have to endure. purchase cialis
2 = (Problem Gambling)
3 = (Pathological Gambling)
Poor Results
You have come to realize today more than any other time in history that the treatment of lifestyle diseases and addictions such as pathological gambling are often a difficult and frustrating task for all concerned. Poor results are seen with all sorts of addictions despite using the most effective treatment strategies. For example, Gorski in 2001 reported that 47% of patients treated in private treatment programs relapse within the first year following treatment. There are many reasons for this poor prognosis. Some would say that failures are due simply to a lack of self-motivation or will power. However, most would agree that lifestyle behavioural addictions could possibly be that patients with multiple addictions are being under diagnosed simply due to a lack of diagnostic tools and resources that are incapable of resolving the complexity of assessing and treating a patient with multiple addictions?
Diagnostic Delineation
Thus far, the DSM-IV-TR has not delineated a diagnosis for the complexity of multiple behavioural addictions such as pathological gambling, sex addiction and substance addictions. It has reserved the Poly-substance Dependence diagnosis for a person who is repeatedly using at least three groups of substances during the same 12-month period, but the criteria for this diagnosis do not involve any behavioural addiction symptoms. In the Psychological Factors Affecting Medical Condition’s section (DSM-IV-TR, 2000); maladaptive health behaviours such as pathological gambling, overeating, unsafe sexual practices, excessive alcohol and drug use may be listed on Axis I only if they are significantly affecting the course of treatment of a medical or mental condition.
Successful treatment outcomes in all addictions are dependent on thorough assessments, accurate diagnoses, and comprehensive treatment programs tailored to an individual gambler. However, major addiction centres throughout the world have limited capability in these three major areas. The DSM-IV-TR does not even include a diagnosis for multiple addictive behavioural disorders. Therefore, it is not surprising that repeated rehabilitation failures and low success rates are the norm instead of the exception in the addictions field. Treatment clinics need to have a treatment planning system and referral network that is equipped to thoroughly assess multiple addictive and mental health disorders and related treatment needs and comprehensively provide education, awareness, prevention, and specific addictions treatment services for gamblers diagnosed with multiple addictions. Written treatment goals and objectives should be specified for each separate addiction and dimension of the gamblers’ lifestyle, and the desired performance outcome should be measurable.
New Proposed Diagnosis
To assist in resolving the limited DSM-IV-TRs’ diagnostic capability, a multidimensional diagnosis of “Poly-behavioural Addiction,” is proposed for more accurate diagnosis leading to more effective treatment planning. This diagnosis encompasses the broadest category of addictive disorders that would include an individual manifesting a combination of substance abuse addictions, and other obsessively-compulsive behavioural addictive behavioural patterns which include pathological gambling, religion, sex and pornography. Behavioural addictions such as pathological gambling are just as damaging psychologically and socially as alcohol and drug abuse.
They are comparative to other life-style diseases such as diabetes, hypertension, and heart disease in their behavioural manifestations, their aetiologies, and their resistance to treatments. They are progressive disorders that involve obsessive thinking and compulsive behaviours. They are also characterized by a preoccupation with a continuous or periodic loss of control, and continuous irrational behaviour in spite of adverse consequences.
Poly-behavioural addiction would be described as a state of periodic or chronic physical, mental, emotional, cultural, sexual, spiritual and religious intoxication. These various types of intoxication are produced by repeated obsessive thoughts and compulsive practices involved in pathological relationships to any mood-altering substance, person, organization, belief system, and activity. The individual has an overpowering desire, need or compulsion with the presence of a tendency to intensify their adherence to these practices, and evidence of phenomena of tolerance, abstinence and withdrawal, in which there is always physical and psychic dependence on the effects of this pathological relationship. In essence, Poly-behavioural addiction is the synergistically integrated chronic dependence on multiple physiologically addictive substances and behaviours. Some examples include abusing substances such as nicotine, alcohol, & drugs, or acting obsessively and compulsively in regards to gambling, food binging, sex, and religion.
New Proposed Theory
The Addictions Recovery Measurement System’s (ARMS) theory is a nonlinear, dynamical, non-hierarchical model that focuses on interactions between multiple risk factors and situational determinants similar to catastrophe and chaos theories in predicting and explaining addictive behaviours and relapse. Multiple influences trigger and operate within high-risk situations and influence the global multidimensional functioning of an individual.
There are four variables that determines the outcome of addiction therapy.
1. background factors (e.g., family history, social support, years of possible dependence, and co-morbid psychopathology).
2. physiological states (e.g., physical withdrawal).
3. cognitive processes (e.g., self-efficacy, cravings, motivation, the abstinence violation effect, outcome expectancies).
4. coping skills
In other words, small changes in gambler’s behaviour can result in large quantum changes at the gambler’s social-economic outcome and patterns at the social-economic level of the gambler’s lifestyle portfolio emerge solely from numerous little interactions.
Partnerships and coordination among service providers, government departments, and community organizations in providing treatment programs are a necessity in addressing the multi-task solution to poly-behavioural addiction. The (ARMS) resources can be used to fight the War on pathological gambling disorders within poly-behavioural addiction.
According to therapists and other professionals in the field, pathological gambling is a difficult disorder to treat. Treatment for pathological gambling is a costly, time-consuming effort, often without quick results and with a high degree of re-occurrence. Given the lack of information about the root causes of the disorder and the relatively new awareness of the phenomenon, at least on a large scale, no single treatment approach has been devised. Instead, a variety of different approaches are employed, with mixed results. The ARMS approach to treat pathological gambling within the polybehavioural disorder appear to the most promising.
PROBLEM GAMBLING
Do not confuse treatment for pathological gambling with treatment for problem gambling.
Unlike pathological gambling where treatment must include all four variables mentioned earlier, treatment for problem gambling is much simpler. This is because problem gambling has been recognized as a more cognitively based disorder. Most researchers have concluded that excessive gamblers characteristically demonstrate core cognitive distortions in their belief systems about their ability to win at gambling. These beliefs can persist even when the gambler continues to lose at gambling. It is essential to assess the gambler’s beliefs about his or her ability to win. Some gamblers also have cognitive distortions not only about their ability to win, but also their need for excitement, and a correlating distorted belief that they will not be able to function without the excitement that they derive from gambling.
COGNITIVE BEHAVIOUR THERAPY
Cognitive therapy is required to identify, challenge and modify cognitive distortions, or relapse to gambling is likely because the gambler believes that he or she is going to win if he or she gambles. Other interventions may be appropriate and effective, for example behavioural therapy, family therapy, impulse control training, and so on, but cognitive assessment and therapy will be a cornerstone of the treatment plan.
Cognitive behaviour therapy per se is sufficient to treat problem gambling. However, for pathological gambling, cognitive behaviour therapy forms only one part of treatment. The therapists also need to address the background factors, physiological states and coping skills of the pathological gamblers.
KEY POINTS
1. Do not confuse problem gamblers with pathological gamblers.
2. Do not confuse treatment for pathological gamblers with treatment for problem gamblers.
3. Professional gambling is an unqualified and unstable profession.
4. Cognitive behaviour therapy is effective to treat problem gamblers.
5. ARMS resources which include cognitive behaviour therapy are promising therapeutic tools to treat pathological gamblers.
Kerk Kerkorian is one of the most experienced and sophisticated casino owners of the gambling industry. In fact, he can be considered as one of the living legends of the “fathers of Las Vegas”.
Kirk Kerkorian
Kirk Kerkorian was born in 1917 in the family of Armenian emigrants in Fresno, California. A school drop-out in 8th grade, he picked up boxing and participated in single combats. He became a fairly skilled amateur boxer under the tutelage of his older brother, fighting under the name “Rifle Right Kerkorian” to win the Pacific amateur welterweight championship.
In 1939, at the age of 22, he installed wall furnaces that heated water for Ted O’Flaherty. One day, Ted O’Flaherty was taking flying lessons, and Kirk Kerkorian accompanied him to take a guest seat. He was inspired by the experience, in particular the views of the Californian coast and decided to quit boxing and made a switch to become a pilot.
Although he anticipated the oncoming of World War II, he was unwilling to join the military forces. Instead he took up a flying course at the Happy Bottom Riding Club in the Mojave Desert located adjacent to the USAF’s Muroc Field. This Happy Bottom Riding Club is the present Edwards Air Force Base that we all know today. In exchange for the flying lessons from pioneer aviatrix Pancho Barnes, he agreed to milk and look after her cattle.
Qualified as a commercial pilot in six months, Kirk Kerkorian became a pilot of British royal air force during World War II. Kirk Kerkorian learned that the British Royal Air Force was ferrying Canadian built de Havilland Mosquitos over the north Atlantic to Scotland. The Havilland Mosquito’s fuel tank carried enough fuel for 1,400 miles (2,300 km), while the trip directly was 2,200 miles (3,500 km). The safer route was the Montreal–Labrador–Greenland–Iceland–Scotland route while going further north with the direct “Iceland Wave” route could encounter the risk of the wings icing and distorting, and the plane crashing. Despite the danger, Kirk Kerkorian chose the perilous direct “Iceland Wave” route which blew the planes at jet-speed to Europe. The fee was US$1,000 per flight, but the statistics were that only one in four completed the journey. In May 1944, Kirk Kerkorian and his Wing Commander J.D. Woolridge flew the Iceland Wave and broke the old crossing record. Woolridge got to Scotland in six hours, 46 minutes while Kirk Kerkorian did it in seven hours and nine minutes. Working for two and a half years with RAF Ferry Command, Kirk Kerkorian delivered 33 planes, logged thousands of hours, travelled to four continents and flew his first four-engine plane.
After the war, and having saved most of his wages, Kirk Kerkorian bought a Cessna for US$5,000. He worked as a general aviation pilot, and made his first visit to Las Vegas in 1944. After spending much time in Las Vegas, Kirk Kerkorian quit gambling and in 1947 paid US$60,000 for Trans International Airlines, which was a small air-charter service which flew gamblers from Los Angeles to Las Vegas. This business was subsequently sold for US$108,000,000 in 1968.
Kirk Kerkorian was able to visualize the huge potential of Las Vegas. In 1962, he bought 80 acres of land on the famous Las Vegas Strip, not far from the legendary casino “Flamingo”. The land at that time cost him US$960,000. It was a wise investment because at that time gambling boom had just started and many companies became interested in gambling industry. The renowned casino “Caesars Palace” was built on his land, which he granted on lease. In 1969 he sold it with a net profit of more than 9 million dollars.
In 1967 Kirk Kerkorian bought 82 more acres of land on Paradise Road in Las Vegas for US$5 million. Together with architect Martin Stern, the partnership build an “International Hotel”, which was the largest hotel in the world during that time. In order to make the hotel popular and attractive, Kirk Kerkorian hired Elvis Presley for concerts. The first two performers to appear at the hotel’s enormous Showroom Internationale were Barbra Streisand and Elvis Presley. Presley brought in some 4,200 customers and potential gamblers, every day, for 30 days in a row, hence breaking all attendance records in the county’s history. At that time he also bought the casino “Flamingo”, which he subsequently sold in 1970 to the corporation “Hilton”.
1973 was a crucial year for Kirk Kerkorian. The Kerkorian-Martin Stern partnership practically put all the eggs in one basket when they bought the film maker “MGM Studio” and turned it into the casino-hotel “MGM Grand“. Larger than the Empire State Building, the MGM Grand became the biggest in the world for many years.
On 21st November 1980, fire broke out in the the original MGM Grand. This was one of the worst disasters in Las Vegas history. The Clark County Fire Department reported 84 deaths in the fire. There were 87 deaths in total, including three which occurred later as a result of injuries sustained in the fire. Amazingly, the MGM Grand reopened after only 8 months. Almost three months after the MGM fire, the Las Vegas Hilton also caught fire, killing eight people.
In 1986, Kirk Kerkorian sold the MGM Grand hotels in Las Vegas and Reno for US$594 million to Bally Manufacturing. The Las Vegas property was subsequently renamed Bally. Spun off from Metro-Goldwyn-Mayer, MGM Resorts International owned and operated several properties, including the Bellagio, the current MGM Grand resort complex, The Mirage, the New York-New York, Circus Circus, Mandalay Bay, The Luxor, Excalibur and the newly completed CityCenter in Las Vegas.
In 1990, the MGM Studio was purchased by Italian financier Giancarlo Parretti. However, Parretti defaulted on the loans he’d used to buy the studio, leaving the studio in the hands of the French bank, Credit Lyonnais. Credit Lyonnais invested significant sums to revive the moribund MGM Studio and eventually sold it back to Kirk Kerkorian in 1996. Kirk Kerkorian soon expanded the company, purchasing Orion Pictures, The Samuel Goldwyn Company and Motion Picture Corporation of America from John Kluge’s Metromedia in 1998, and a majority to the pre-1996 PolyGram Filmed Entertainment from its parent Philips, which was in process to sell PolyGram to Seagram. Seagram eventually merged with PolyGram Filmed Entertainment into Universal Studios. In 1995 Universal Studios merged with Motion Picture Corporation of America.
In 2005, Kirk Kerkorian sold the MGM Grand once more to a consortium led by Sony. He retained a 55% stake in MGM Mirage.
Kirk Kerkorian also owned the corporation “Tracinda“, which has the controlling stock of “MGM Mirage” casinos in Nevada, New Jersey and Macao.
On 22nd November 2006, Kirk Kerkorian’s Tracinda investment corporation offered to buy 15 million shares of MGM Mirage to increase his stake in the gambling giant to 61.7% from 56.3%.
In May 2009, following the completion of a US$1 billion dollar stock offering by MGM Mirage, Kirk Kerkorian and Tracinda lost their majority ownership of the gaming company, dropping from 53.8 percent to 39 percent and even after pledging to purchase 10 percent of the new stock offering they now remain minority owners. Although they are minority owners, they are still controlling shareholders.
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Automobile industry
Kirk Kerkorian
Kirk Kerkorian’s interests are not limited only to gambling industry. Kirk Kerkorian first involved in the automobile industry in 1995. Since then, his investment interests in automobile industry includes General Motors, Chrysler Corporation and Ford Motor Company.
He owned 10% of the shares of General Motors (GM). When GM ran into financial trouble, Kirk Kerkorian suggested a rescue proposal that Renault acquire a 20 percent stake in GM. A letter from Tracinda to Rick Wagoner was released to the public, to influence the board of GM’s executives. Unfortunately, the talks failed. On 22nd November 2006, Kirk Kerkorian sold 14 million shares of his GM stake. The sale resulted in GM’s share price falling 4.1% from its 20th November price, although it remained above US$30 per share. The sale lowered Kirk Kerkorian’s holding to around 7% of GM. On 30th November 2006 Tracinda said it had agreed to sell another 14 million shares of GM, cutting Kirk Kerkorian’s stake to half of what it had been earlier that year. By the end of November 2006, he had sold substantially all of his remaining GM shares. As a result of the sell off, GM lost more than 90% of its value, falling as low as US$1 per share by May 2009, and filed bankruptcy on 1st June, 2009.
In 1995, Kirk Kerkorian made his debut in the automobile industry by staging a takeover attempt on the Chrysler Corporation. Although he was assisted by retired Chrysler chairman and CEO Lee Iacocca, the Chrysler management treated the takeover as hostile, and after a lengthy battle, Kirk Kerkorian aborted his plans and sold his Chrysler stake in 1996. As part of the settlement, Iacocca was placed under a gag order forbidding him from discussing Chrysler in public or print for five years. However, two years later in 1998, Chrysler management agreed to sell the corporation to German automaker Daimler-Benz.
On 5th April 2007, Kirk Kerkorian made a US$4.58 billion bid for the Chrysler Group, the U.S. arm of Daimler-Chrysler. After Daimler-Chrysler announced they were interested in selling the Chrysler division on 14th February 2007, large investors such as Cerberus Capital Management, The Blackstone Group and Magna International each announced intentions to bid on the company. Kerkorian’s bid, while not expected, was not surprising given his long involvement in the U.S. automobile industry. During the bidding process, he sought the aid of his close associate Jerome York who was a former Chief Financial Officer at both Chrysler and IBM. On 14th May 2007, 80% of the Chrysler arm of Daimler-Chrysler was sold to Cerberus for US$7.4 billion.
Kirk Kerkorian began buying Ford Motor Company stock in April 2008, and spent about US$1 billion to accumulate a 6% stake in the automaker. By October 2008, the investment had lost two thirds of its value, and he began selling. Tracinda explained, “In light of current economic and market conditions, it sees unique value in the gaming and hospitality and oil and gas industries and has, therefore, decided to re-allocate its resources and to focus on those industries. On 21st October, Tracinda sold the 7.3 million Ford shares at an average price of US$2.43, and said it planned to cut further its existing 6.1 percent stake in Ford, for a potential total loss of more than half a billion dollars. Kirk Kerkorian sold his remaining stake in Ford on 29th December 2008.
Personal life
Kirk Kerkorian
Married three times, Kirk Kerkorian met his second wife Jean Maree Harbour-Hardy by chance at the Thunderbird, in Las Vegas. Ms. Harbour-Hardy, an accomplished choreographer and dancer from England, travelled the world instructing dance troupes. By chance, they met and fell in love while she was sent to check opportunities to choreograph a performance in Las Vegas. The second marriage was his most enduring marriage lasting thirty years from 1954 to 1984. Kirk Kerkorian’s two daughters, Tracy and Linda were the legacies of this marriage. The name of Kirk Kerkorian’s personal holding company, Tracinda Corporation and The Lincy Foundation are hybrids of the two daughters’ names. Although divorced in 1984, they remain close friends. Ms. Harbour-Hardy Kerkorian is financially successful in her own right.
Kirk Kerkorian was in fact blackmailed by woman conspiracy in his short-lived third marriage in 1999. He married a professional tennis player Lisa Bonder, 48 years his junior, which under a prenuptial agreement lasted only one month. He subsequently was blackmailed in a breach of privacy suit filed against him by Steve Bing. Fortunately, Kirk Kerkorian had the resources to hire Anthony Pellicano to wiretap telephone calls illegally between Kirk Kerkorian and Lisa Blonder in order to gain a tactical advantage in the divorce proceedings. Kirk Kerkorian claimed Bing was the father of Bonder’s daughter, which was later established by DNA testing.
On August 10, 2006, the Los Angeles Times reported that Kirk Kerkorian’s attorneys were being sued by Lisa Bonder because of their connection to former high-profile private investigator Anthony Pellicano, who is currently serving a fifteen-year prison sentence for running an illegal wiretapping scheme.
Kirk Kerkorian often plays tennis with Alex Yemenidjian, a former MGM executive but is now co-owner of the Tropicana Las Vegas resort. He has a penchant for expensive clothes especially the custom-made outfits by Italian designer Brioni, but drives relatively low cost vehicles such as a Pontiac Firebird, Jeep Grand Cherokee and a Ford Taurus.
Kirk Kerkorian splits his time between his residences in Beverly Hills, California and Las Vegas. Although he is the richest person in Los Angeles, he almost never gave interviews and seldom appeared in public. Even though his charitable foundation has dispensed more than US$200 million and a school, he had never allowed anything to be named in his honour. On 14th February 2011, Kirk Kerkorian donated The Lincy Foundation to the University of California, Los Angeles, UCLA, to create the “Dream Fund at UCLA”. The Lincy Foundation is worth about US$200 million. He received the Mesrob Mashdots Medal from the Republic of Armenia for his services to Armenia and its people in 2001.
Wealth
His net worth in 2008, according to Forbes magazine, was US$16.0 billion, making him the world’s 41st richest person at that time. By 2011, Kirk Kerkorian was among those hardest hit by stock market recession as his net worth tumbled to US$3.2 billion. He is currently listed as the 310th richest person.
Conclusion
This is an interesting post with lots of lessons to be learnt if you want to be successful in gambling and money. I will update them in due course to highlight the key-points.
In Part1 you have seen the biography of Stanley Ho.
Now, we take a look at one of the American casino owners Sheldon Adelson.
At present, Sheldon Adelson is the richest among the casino owners of the world. He owns the corporation “Las Vegas Sands“, which controls the casino-hotel “Venetian” in Las Vegas, the Venetian Macao and the Marina Bay Sands in Singapore.
The life of Sheldon Adelson is a classical story of an American dream. Sheldon Adelson was born in 1933 in the Dorchester neighbourhood of Boston in a poor Jewish-Ukrainian emigrant family. His Lithuanian-born father was a taxi driver and an advertisement salesman.
He had to work since early childhood. He made his first money by selling newspapers as a street boy. He started a business selling toiletry kits, and in the 1960s he started a charter tours business. Sheldon Adelson went to college at the City College of New York, but dropped out to venture into business.
Despite having limited formal education, this self-made man, soon became one of the best financiers in the United States. He worked as a mortgage broker, investment adviser and financial consultant. Through his work as a financial advisor, he helped to improve the financial situations of more than 50 companies.
From the 1970s, Adelson lived in Massachusetts with his wife, Sandra, and their three adopted children, Mitchell, Gary and Shelley. They divorced in 1988. Mitchell died of a drug overdose in 2005.
Sheldon Adelson met his current wife Miriam Ochsorn on a blind date in 1989 and married after two years of courtship in 1991. Miriam Ochsorn is an Israeli physician specializing in drug abuse treatment.
As an entrepreneur, Sheldon Adelson believed in the future of IT technologies. The international show-exhibition of IT-technologies “COMDEX” was his brainchild. The computer trade show COMDEX, which he and his partners developed for the computer industry was the original source of Sheldon Adelson‘s wealth. The first show was held in 1979. It was the premier computer trade show through much of the 1980s and 1990s. In 1995, Sheldon Adelson and his partners sold the Interface Group Show Division, including the COMDEX shows, to SoftBank Corporation of Japan for US$862 million.
Sheldon Adelson first entered the casino industry in 1989 by taking over the casino-hotel “Sands” in Las-Vegas from Frank Sinatra. In order to bring to Las Vegas a new source of business from the exhibition industry, he decides to transform Las Vegas into the international business centre, with view to attract rich entrepreneurs and convert them into potential players to his casino. The following year, Sheldon Adelson and his partners constructed the Sands Expo and Convention centre, then the only privately owned and operated convention centre in the United States.
Venetian Las Vegas
In 1991, while on honeymoon vacation in Venice with his second wife, Miriam, Sheldon Adelson found the inspiration for a mega-resort hotel. He renovated the Las Vegas Sands and invested one and a half billion dollars to construct The Venetian, a Venice-themed resort hotel and casino. In 2003, The Venetian added the 1,013-suite Venezia tower – giving the hotel 4,049 suites; 18 leading-chef restaurants; a shopping mall and all this at the background of Venetian channels, with gondolas sailing and gondoliers singing their famous songs. The new casino was targeted not only at ordinary players, but also at wealthy businessmen who came to his new business centre. As many experts acknowledge, “Venetian” is one of the most beautiful casino-hotels in the world.
In 2004, Sheldon Adelson spearheaded a major project to introduce Sands into Macau, the Chinese gambling city that had been a Portuguese colony until December 1999. Sheldon Adelson opened the casino “Venetian” in Macao, the first casino of Las Vegas type in Asia. The one million-square-foot Venetian Macao became the People’s Republic of China’s first Las Vegas-style casino when it opened in May 2004. Sheldon Adelson made back his initial US$265 million investment in nine months and, he increased his wealth when he took the stock public in December 2004. Since the opening of the Venetian Macao, Sheldon Adelson‘s personal wealth has multiplied more than fourteen times.
Venetian Macau
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Even though Cotai was a marsh swampy land, Sheldon Adelson visualized the creation of Cotai into an Asian counterpart of the Las Vegas Strip. In August 2007, Las Vegas Sands opened the US$2.6 billion Venetian Macao, a supersized version of its Vegas namesake with 3,000 rooms, a million square feet (93,000 square meters) of convention space, an 800,000 square foot shopping mall, and the world’s largest casino. In August 2008, Las Vegas Sands followed up its expansion plans by opening the Four Seasons Hotel next to the Venetian in Cotai.
The next project is Sands Cotai Central, originally slated to open in 2009 but mothballed due to the global financial crisis of 2008 that pushed Las Vegas Sands to the brink of bankruptcy.
“The opening of Sands Cotai Central is a game-changer for the future of Macau as a leisure, entertainment and business location,” Sheldon Adelson said. “Having changed Las Vegas to a city of convention, business and leisure tourism, we’re going to make Macau a city of convention and leisure tourism.”
Sands China, a company registered in Hong Kong is a subsidiary of Las Vegas Sands. Sands China owns and operates the US$4.4 billion Sands Cotai Central casino resort project. Opened on the 11th April 2012, it is the biggest piece of the world’s largest tourism development project.
Sands Cotai Central as the anchor point of the Cotai Strip is the pathway to adventure, fun and fortune. Boasting of the three celebrated hotel brands of Conrad, Sheraton and Holiday Inn, Sands Cotai Central offers visitors to the Cotai Strip a spectacular range of affordable luxurious facilities with about 6,000 hotel rooms and suites, and 1.2 million square feet of retail, entertainment and dining amenities, and meetings and convention space. Shoppes Cotai Central offers nearly 100 retail outlets two spas, three health clubs and 300,000 square feet of gaming space in two, uniquely-themed gaming centres.
Along with Sands China’s Venetian Macao and Four Seasons Macao hotels, they’ve been built on what was formerly unwanted marshy swamp linking Macau’s outlying islands, Coloane and Taipa.
Sands China has successfully transformed the Cotai marshy swamp into the look and feel of Las Vegas strip. Driving into the Cotai strip, you will be welcomed by the Galaxy’s Asian fantasy palaces, then the Gothic Venetian, the sparkle and shimmer of City of Dreams, and the blazing video boards of Sands Cotai Central.
Las Vegas Sands really knows how to think big, plan and expand. A new Macau casino on a plot called Parcel 3 is slated to be Sands’ biggest project in China since it opened its US$4 billion Sands Cotai casino on the 11th April 2012.
Sands China reported that the local government in Macau extended the deadline for completion of Parcel 3 by three years, to April 2016, for an unspecified penalty. The company has reportedly already spent nearly US$97 million on construction and land costs at the site.
If the company had not been granted the extension, it could have lost its land rights and the investments already made, US$96.7 million, according to Las Vegas Sands’ 2011 annual report. Sands China is expecting to pay the government a penalty fee for the construction delay, according to a company announcement. The new Parcel 3 will be connected to The Venetian Macau and Four Seasons Macau. Sands China spokeswoman said that the casino developer was behind schedule because it had been focusing on another project—the US$5 billion Sands Cotai Central, a casino resort on the Cotai Strip that opened on the 11th April 2012. Cotai as a strip of largely undeveloped, reclaimed land badly needed the investment from the casino operators to draw more of the Chinese tourists in order to boost the Macau’s revenue. According to official data, Macau earned up to five times the gambling revenue of the Las Vegas strip in Nevada.
In May 2006, Sheldon Adelson‘s Las Vegas Sands was awarded a hotly contested license to construct a casino resort in Singapore’s Marina Bay. The new casino, Marina Bay Sands, opened in 2010 at a rumoured cost of US$5.9 billion. It includes a shopping mall, convention centre, and 2,500 luxury hotel rooms.
Marina Bay Sands
The latest news is that Sheldon Adelson said he plans to spend US$35 billion on a mini-Las Vegas strip in Spain, where he is courting the country’s two top urban areas, Barcelona and Madrid, with plans for a casino complex.
“We are looking at 12 integrated resorts, 3,000 rooms each. A mini Las Vegas, about half the size of the Las Vegas strip in Spain for the European market,” said Sheldon Adelson. “Each building would cost between US$2.5 billion and US$3 billion and target customers are from western and eastern Europe.”
As of march 2012, Sheldon Adelson’s wealth is estimated at 24.9 billion.
In the casino industry, the owners are commonly referred to as sharks, the recreational gamblers as fishes, the professional gamblers as thieves and the high rollers as whales.
Needless to say, there are real personalities behind the gambling industry. Some people consider them as talented businessmen, respect them and learn from them. Others, conversely, condemn them as ruthless sharks. Admittedly, these people are extraordinary, often very adventurous, but at the same time they have business acumen, able to smell money and feel the demands of the time. They take calculated risks and can correctly predict the potential of their enterprises. The truth is such people amass millions of dollars from the gambling industry.
Lisboa
Stanley Ho is the wealthiest player of the casino industry in Asia. He holds the monopoly of the casino industry in Macau for almost 40 years.
Stanley Ho was born in 1921 in Hong Kong. His great-grandfather was a wealthy Dutch Jew who married a local woman. The Ho family was one of the most renowned and influential in Hong Kong. But Stanley Ho was not able to make use of the wealth of this family. His father went bankrupt, when Stanley Ho was a student. Owing to the financial collapse his two brothers committed suicide, and his father renounced his family and left Stanley Ho with two sisters and mother. Despite all hardships, he successfully graduated from Hong Kong University and mastered at least three languages.
Stanley Ho started his career in a trade company, located in Macao. Outstanding business skills and proficiency in several languages propelled him to become a shareholder of the company at the young tender age of 21. Stanley Ho received his first fortune as a result of a fateful incident. Stanley Ho was responsible for sea trade. During one of the voyages the ship which carried a large amount of money aboard was attacked by the pirates. While many of his fellow employees were killed, Stanley Ho successfully defeated the pirates and returned both the money and the ship. The company duly appreciated the courage of Stanley Ho and rewarded him a bonus of one million!
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Lisboa
In 1943 during the Second World War, Stanley Ho invested the whole million into the construction industry in Hong Kong. At this time Hong Kong underwent a real construction boom, and Stanley Ho received very good returns from his business. However, his ambitions were not limited to construction business. Together with his partners, Hong Kong tycoon the late Henry Fok, a Macau professional gambler the late Yip Hon and his brother-in-law the late Teddy Yip, he won the tender for the monopoly right to open gambling institutions in Macao. Stanley Ho won the tender with the sum of only 410 thousand dollars, outbeating the traditional Macau casino barons, the Fu family.
For almost 40 years Stanley Ho‘s company Sociedade de Turismo e Diversões de Macau, holds the monopoly of Macao gambling industry. Stanley Ho invests all his money and skills in this company. By 1972 he owns nine casinos, including his flagship casino-hotel “Lisboa”, which is one of the most beautiful casinos of the world.
Apart from Hong Kong and Macau, he has also invested in mainland China, Portugal, North Korea, Vietnam, the Philippines, Mozambique and East Timor. In the 90s, Stanley Ho opened nine casinos in the Philippines. Unfortunately, Stanley Ho had to renounce his Philippine business as a result of an undisclosed conflict with the president of Philippines. Apart from the casino, Stanley Ho also owned many betting operators and totalizators. In 2003 the revenue of Macao grew by 30% consisted mainly of taxes from the activities of the companies operated by Stanley Ho. His business provided work to more than 10 thousand people. In 1998 a local street in Macau was named in honour of Stanley Ho. Stanley Ho became one of the first to be bestowed such honour as a living resident.
Lisboa
As expected, the gambling monopoly has to end. In 2000, the Macao authorities decided to remove the monopoly for the gambling industry. Since 2002, Stanley Ho has to share the gambling industry with the American “sharks” – Wynn and Adelson, who immediately seized the opportunity to learn more about the Asian market. In 2011 Stanley Ho was the 13th richest man in Hong Kong with a net worth of US$2 billion.
During the recent few years Stanley Ho has been struggling with litigation suits with his own sister, Winnie Ho, over the ownership of the Macau casinos. In July 2009, Stanley Ho suffered a stroke. As he endured through a prolonged period of convalescence and recovery, he began to take steps to release his grip on his casino empire and started to delegate and transfer ownership to his various wives and children.
Las Vegas and its casinos have always been an inspiration for film producers looking to inject excitement and intrigue into their movies.
‘Ocean’s Eleven’ is historically one of the most famous casino movies with a Las Vegas backdrop. This 1960 casino film is directed by Lewis Milestone. In this movie, the members of the original ‘Rat Pack’, Frank Sinatra, Dean Martin, Sammy Davis, plan to rob five of the top casinos in Vegas in a single night.
A gang of World War II 82nd Airborne veterans are recruited by Danny Ocean (Frank Sinatra) and Jimmy Foster (Lawford) to rob five different Las Vegas casinos on a single night. The target casinos are Desert Inn, Riviera, Sahara, Sands and The Flamingo.
The gang plans the elaborate New Year’s Eve heist with the precision of a military operation. Josh Howard (Davis) takes a job driving a garbage truck while others work to keep a close watch on the five casinos.
At exactly midnight, while everyone in every Vegas casino is singing the count-down, the electrical system is blown up and Vegas goes dark. The back-up electrical systems open the cashier cages instead of turning on the emergency lights. The inside gang members slip into the cashier cages and scoop the money. They dump the bags of loot into the hotel’s garbage bins, and then return to mingle with the crowds. As soon as the lights return, the robbers move out of the casinos. A garbage truck driven by Josh Howard picks up the bags and passes through the police check-point. Things go according to plan at least until after the robberies.
‘Ocean’s Eleven’ was remade successfully in 2001 by Steven Soderburgh, who cast George Clooney as the leader of Danny Ocean. Brad Pitt, Matt Damon and Elliott Gould cast as gang members. The 2001 remade enhanced the storyline while still convey the same glamorous image of Vegas as the original 1960 movie.
‘Rounders’ is the 1998 casino movie where Mike McDermott (Matt Damon) is one of the world’s best poker players. He has given up the game in order to concentrate on finishing law school. Worm (Edward Norton) is his old friend. When he is released from prison, he persuades McDermott to return to the game in order to pay off some bad debts he’s accrued. McDermott then finds himself playing in a series of poker games where the stakes are increasing and the tension is high.
‘Honeymoon in Vegas’ is a comedy movie that offers plenty of laughs. This 1992 comedy tells the story of Jack Singer (played by Nicholas Cage) who decides to wed his long-time partner Betsy (Sarah Jessica Parker) in Las Vegas. However, when they arrive, Betsy is earmarked by a high-stake gambler who decides he wants to have her companion for the weekend. He engages Jack Singer in poker games with view to win her from him. With Nicholas Cage acting his best as the love-struck bridegroom, James Caan as the sinister gambler, and a number of Elvis impersonators, ‘Honeymoon in Vegas’ is truly played by a great casts of comedians.
‘Casino’ is the 1995 movie directed by Martin Scorcese. It is considered by many to be the definitive casino film. It has a glittering, glamorous face, as well as a brutal, cruel one. The details of mob involvement in the casinos of the 1970s and 1980s are revealed. This movie tells the true story of Sam Ace Rothstein, a gangster who moves to Las Vegas and becomes the operator of the Tangiers casino. Robert De Niro makes the lead role his own. Rothstein not only struggles with marriage to a drug addict (played by Sharon Stone) but also with a fellow gangster, Nicky Santoro (Joe Pesci).
To enhance this post, I have two movies in my classicmovie site to share with you.
The first is Ransom Money. This movie is nothing great but I like to see the glamorous image and scenaries of Las Vegas in the 70s. In addition, the song “My Mum and I” sung by Bob Engermann is really nice. It is typical of the songs of the seventies. You can view the movie at my classicmovie site
Flash format
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The second movie is The Belle Starr Story. Abused physically and psychologically by men, Belle Starr now out-performs men in riding, smoking, shooting and gambling. However, Blackie out-gambles her in a poker game which leads to a turbulent relationships. Together they become involved in a diamond robbery which turns awry. Belle has to rescue Blackie.
“The Belle Starr Story” (1968) is probably the only Spaghetti Western ever directed by a woman, Lina Wertmüller. She was the first woman director to be nominated for an Academy Award for Best Direction, for “Seven Beauties” (1976).
You can view the movie at my classicmovie site.
I have programmed the image such that the size increases by 10 percent with every click. You can try it to see for yourself.
This post answer three major questions.
1. What it takes to become a professional gambler?
2. Why you should not take up professional gambling if you can find an alternative source of money or income?
3. Why not take up professional gambling as a hobby as a compromise.
What is your response after reading Blackjack Hall of Fames Part 1 and 2, The Rise of Blackjack Professionals Part 1, 2 and 3 and Blackjack Team Play.
The idea is to let you have a glimpse of the lives of successful professional gamblers. In short, what it takes to become a professional gambler. The price you have to pay. The risks and obstacles you have to overcome. Gambling is a risky profession. Gambling is also an unstable profession. What about professional gambling. Professional gambling is a scary profession. How do you handle these three major problems?
Professional gambling is just like any other profession. It is a journey of a thousand miles that starts with a single step. A good way is to take up or learn professional gambling as a hobby. For the talented you can turn pro later . When you practise professional gambling as a hobby, you eliminate both the inherent risk, the unstable nature of gambling and the scare of professional gambling.
With your skill as a professional gambler, gambling becomes a wonderful recreation without risk and instablity but with ample entertainment rewards and satisfaction at the expense of the casinos.
How do you know whether you will do well in professional gambling. It takes many years of learning curve to master professional gambling. It is not easy to make a living in professional gambling. Very few make it. In my opinion, gambling is the worse profession to pursue. The traditional professions like doctors, lawyers, accountants, engineers, architects, teachers fared much better.
You may have come across many individuals who are sports professionals like football, basketball, baseball, boxing, crickets, rugby, golf and so on. Gambling can be considered as a special kind of sports. Within this category, gambling as a profession is possibly the most unrewarding profession. As a consolation, you can always plan an exit strategy in professional gambling just like the way capitalists plan their exit after selling off their business.
The only way to keep improving over long periods of time is to keep a log book just like the your lecture notes and exercise books during your college days. Go though your log results and find ways to improve them.If you have any flawed belief systems or any flawed behaviour, you must find ways to eliminate them. Seek help from your mastermind support group. If you do not have one you have to form one. In professional gambling, it is just not possible to do it alone.
The best way to handle your pride and ego is to learn the spirit of sportsmanships. My advice is to take baby steps. Keep improving on your baby steps until you see a sudden jump in standards. This is just the law of nature. When water reaches 100 degree centigrade, it has to turn into steam. You may have seen how pride, ego and chasing after instant gratification contribute to the downfall of many promising professional gamblers. When water get heated too fast it explodes. It would not turn into steam.
MASTERING TECHNICAL ISSUES
Emotional maturity is probably the most important quality of a professional gambler. It takes time to learn the technical issues in professional gambling.You have to learn how to handle variance. You must not deny, justify, lay blame, or give excuses. You admit your mistakes and learn from your mistakes. You admit your weaknesses and take steps to strengthen your weaknesses. Correction is the answer. You must not be jealous of the successes of your fellow professional gamblers. You respect them as master and learn from the masters.
HANDLING CASINO SCENES
You may have encountered some common casino scenes each and everyday. “I was influenced by the fellow player. This unlucky player brings bad luck. The stupid player judged the cards wrongly. Handphones keep ringing. Croupier irritates me, takes too long to exchange money and count chips”. If you want to become a professional gambler, you have to take steps to turn these casino scenes into your comfort zone.
In addition you must be able to handle bet spreads including some occasional big bets. You need to develop the guts to push out the bets. You need to be well financed. You can play at the level of professional gambling only if you have a sufficient bankroll.
More importantly, you need to have a flare for mathematics. This is probably the single most important factor. This will win you more money than any other factor. If you don’t know the mathematics, you have to learn it. If you don’t like mathematics, professional gambling is not right for you.
As in any endeavour there are obstacles, lots of them. Mental preparation is the key. Stories from successful professional gamblers revealed that they are very often ridiculed, humiliated, suspended and even barred from casino play. If you are not aware of this, read my posts on The Rise of Blackjack Professionals Erectile dysfunction is the failure to achieve or maintain adequate amounts of heritageihc.com levitra price blood in the penile tissues. Reasons for Buying Online How can you get access to this information, your lawyer can request it once proceedings have begun. overnight levitra However, the test can help for tadalafil cialis informing about the condition that gives them humiliating experience. Similarly, Georgia has not voted for a Democratic Presidential nominee since Bill Clinton eked out a victory in cialis canada rx 1992, and New York are used by candidates merely as ATM machines. Matured personality and self-awareness go hand-in-hand. Take steps to eliminate your weaknesses and execute maximum restraint to engage in impulsive activities that are beyond your gambling plan. Going on gambling tilt, drug abuse, bad diet and any form of excessive indulgences will definitely affect your performance. Irrespective of which games you play, which system you use, your success invariably depends on the combination of these three variables – mental alertness, money management, and mathematics.
The gamblers Book Club in Las Vegas is a great place to start. Here, you can find all the books on the aspects of gambling that interest you. You should have proper learning plans in your pursuit of professional gambling. The internet now offers more opportunity for learning than anything you probably have ever seen in your life. Gambling conferences are another great place for learning but I don’t normally attend these functions. Las Vegas used to be the place where most professional gamblers were trained. It used to be the springboard for professional gambling but with the internet and opportunities in many other parts of United States and Internationally, this is no longer as exclusive but it is still a great place for new contacts and a place to learn and develop your professional skills.
You should have realistic expectations in the outcome. You should expect both positive and negative swings in your bankroll. If you decide to be a blackjack professional, you will at some point lose 60 top bets during your career. If you play long enough you will have a losing year. I repeat, “lose top 60 bets and one losing year.” You would see the upswing and downswing due to variance.
If you pass these series of tests, and emerge unscathed, then you have graduated and qualified as a professional gambler. Professional gambling has been known to be very demanding on your time as well. More than eighty hours per week of gambling research and gambling time is the norm. In addition, professional gambling is a profession that will take over many major aspects of your life.
If you have the ability to make more money doing something else you probably should return to where you belong. Professional gambling as a source of money can be very draining on your life. In the long run, it is difficult to justify professional gambling as a bona fide profession.
Professional Gambling as a Hobby
In professional gambling you are totally independent. The only person that you need to answer is yourself. Chiefly, the mold of a man’s fortune lies in his own hand. Besides the controversial “entertainment”, professional gambling contributes nothing to society.
As a compromise, why not just take up professional gambling as a hobby. If you decide to take up professional gambling why not just made it five to ten years. You can always return to where you belong.
I have taken you on a tour to have a glimpse of the lives of successful professional gamblers. In short, what it takes to become a professional gambler. The price you have to pay. The risk and obstacle you have to overcome. Most of you must be shocked to see the iceberg beyond its tip. It is no wonder that you are giving away so much money to the casinos.
It is the purpose of this blog to awaken the public to the reality of casino gambling. This blog hope to expose the illusion of gambling and that gambling truly brings out the worse in men. The financial dream of professional gambling is not only hazardous but also not worth pursuing. Gamblinghelp.biz hopes to improve the lives of people whether it is responsible gambling, recreational gambling, professional gambling, compulsive gambling or quit gambling.
KEYPOINTS
1. Profesional gambling is risky, unstable and scary profession.
2. A good alternative is to take up professional gambling as a hobby.
3. When played as a hobby, professional gambling allows you to enjoy gambling lifestyle as a winner while eliminating most of the problems faced by professional gamblers.
If you have any question, email me at soondr@gmail.com
As you may have already known from the previous post, both Ken Uston and Al Francesco were two of the original inductees during the Blackjack Hall of Fame held in Barona Casino in 2003. And the 2004 Blackjack Hall of Fame was none other than Keith Taft. However, the rise and fall of the MIT blackjack team was a historical landmark in blackjack team play.
In the late 70s, Al Francesco probably created the first blackjack team in history. He selected the team members, trained them in Lawrence Revere’s card counting system and sent them to play. He invented and put into practice the principle of “BIG PLAYER”. For example, when the part of the team is humbly playing low stakes, some drunken and wealthy fish makes high bets on the given signals.
Ken Uston joined Al Francesco‘s team for several years with some degree of success, but his self-actualization needs did stand it under the pressure of his own egoistic personality. He had a very high opinion of himself. He was an action man, liked to show off and wanted to be the first in everything. He left Al Francesco and wrote several books about his gambling adventures. As expected of any high profile project, the books send shock waves through the gambling industry.
Meanwhile, Al Francesco and his cohorts were dissatisfied with Ken Uston‘s decisions to publish the methods of the game which were then available only to the inner circle. But Ken Uston would not be himself if he had not done it.
The casinos knew that well-financed team of blackjack professionals can cause great hurt to casinos. The casinos improvised counter-measures and introduced multi-decked games, frequent shuffling procedures and removal of several good rules. In addition, the casinos appointed special detective agencies to spy on the blackjack professionals, collect the necessary information about them and distribute it among the casinos.
Ken Uston created new methods of the game, used make-up to disguise players, recruited more and more people into his teams and started playing abroad. He was also involved in writing new books, starring on TV, writing new articles and developing new card counting systems.
One of the most scandalous Ken Uston‘s projects was creating the team against the casino with the aid of computers. He got his supply of computers from another Blackjack Hall of Fame inductee Keith Taft. They hid microchips on the body and in the shoes. These microchips can calculate the current situation in the game more precisely than any other human strategy and send the necessary signals to the player. His teams almost broke several casinos, but in a while they were caught, arrested and accused of fraud. The computers and microchips were confiscated. However, the experts including FBI experts, proved that there was no fraud and the accusations were withdrawn.
In 1970, Keith Taft created his first blackjack computer. He was an engineer, computer specialist and inventor. The computers were made available for use by Ken Uston‘s teams.
At that time, the only computers available were IBM mainframes. Miniaturization of computers were unheard off. Keith Taft invented the first version that used 16bite processor, manually made memory and manually wired-in program. Assembly work and debugging took two years. He protected his device with copper screen from possible clutters and hid it in his boots. At first he was very lucky, but then he lost a great deal. He decided to give up playing alone. Keith Taft thought of writing a book, but then contracts with blackjack professionals came his way.
After a few years the market offered more powerful computing devices. The basis of the other device was Z80 processor. Keith Taft built it in the pocket calculator. Keith Taft together with his brother made several such computers for his team. They doubled their bankroll in a week. Tripled in two weeks. Then they were caught, the money and the computer were confiscated.
In short, the secretive project broke down. And a new one emerged with more sophisticated and secret devices. More complicated computers required new processors and larger memory. New investments from the players and investors made good money for Keith Taft and his team of blackjack professionals. Moreover, this computer remained unnoticed in the casinos. Keith Taft created protection system which is quite similar to the modern “electronic key”.
So screw Erecto and get active in your sex life generic cialis with full vigour and fervour. Mast Mood oil is non-sticky herbal viagra generika oil and massage gently. Services such as dmv.org levitra 60 mg have a couple of drinks or two and slept. I think it’s crazy just how popular male levitra low price enhancement supplements have actually gotten nowadays. Then he developed “7-Up” scheme which linked 7 players at the table into the network. Each had a computer and they operate within the network. Just imagine, Keith Taft created computer networks and servers in 1982, years ahead of Microsoft.
Soon video cameras emerged. Keith Taft started applying radio signals and even satellite. Then again a failure, arrest and accusation of fraud. Charges were again dismissed. A new hi-tech project followed.
The struggle between the use of technologies by blackjack professionals and the casinos continue until the issue was finally settled by the Supreme Court of USA. The court held that the use of computers was illegal in the United States.
Since then, Keith Taft stopped playing blackjack. At present, he is living in his house and is working in his laboratory.
Fortunately, Keith Taft‘s contribution to professional blackjack was recognized in the Blackjack Hall of Fame. The 2004 Blackjack Ball displayed Keith Taft‘s work which included a photo album featuring a variety of gadgets that he invented. Many blackjack professionals including Ken Uston used these gadgets to beat the casino. However, Keith Taft credits his teenager son, Marty, for the success of the team.
In terms of organized blackjack team play, the Massachusetts Institute of Technology or MIT Blackjack Team demonstrated themselves as an exceptional innovation of historical significance. Instead of hiring people with money, the operators of the team trained the students to play blackjack for summer earnings during their vacation.
At first the team was small, however the management drew great funds from outside investors and the project grew very large. These young students lived a double life. They attend lectures and eat in the campus canteen for five days a week, then fly to Las Vegas, betting on 10 thousand dollars in the box, living in luxury apartments and driving in limousines at the expense of casinos.
This is possibly the most highly qualified team in the history of blackjack team play. In a few years they have won about 10 million dollars. Then everything went topsy-turvy. First, the risk on the casino’s side increased. There was spying on the players, soon it was found out that they were students of MIT and then their names were added to the blacklist all over the country. Besides, the casinos were more aware of team game principles and each big player immediately came under scrutiny.
But the worse had arrived. A traitor appeared in the MIT blackjack team. For “the thirty pieces of silver”, one of the players betrayed all the members of the team to the casino security agency. Furthermore, part of the money was stolen. It resulted in the collapse of the team. Though it revived in somewhat different forms, they were not as successful as before.
On the brighter side, the former founders, pioneers and managers of the MIT blackjack team are really successful people at present. For example, Semyon Dukach is in sales and purchase of Internet companies. He also conducts seminars on blackjack. Andy Bloch became a professional poker player.
Despite its advantages, blackplay team play also has its share of disadvantages. The problems are mainly administrative in nature. It requires massive investments into the risky business. It is not surprising that 99% of the blackjack team play end up as financial disaster.
Mathematical developments by the game pioneers in professional blackjack and the creation of simple and efficient card counting systems fuelled the rise of blackjack experts and blackjack professionals.
Lawrence Revere invented a new simple card counting system and first described the method of reducing the current score to the real one. Stanford Wong amplified and improved Hi-Lo system, and also developed the Halves system. Lance Humble, Brison, Gordon, Harvey Dubner are equally famous as blackjack pioneers and they made significant contributions to the development of the methods of the game.
In late 70s, one of the blackjack professionalsAl Francesco, probably created the first blackjack team in history. He hired the enthusiasts, taught them Lawrence Revere‘s card counting system and sent them to play. He invented and put into practice the principle of “BIG PLAYER”. For example, when the part of the team is humbly playing low stakes, some drunken and wealthy fish makes high bets on the given signals.
Ken Uston also belonged to this team. He was the vice president of fund stock exchange at that time. However after meeting Lawrence Revere and Al Francesco, he quitted the stock exchange and changed his strict outfit for magnificent bush of hair, golden chains and silk shirts with huge collars contemporaneous with the style of that time.
Ken Uston joined for Al Francesco‘s team for quite a long time and with some degree of success, but his ego did stand it under the pressure of his own ego. He had a very high opinion of himself and wanted to be the first in everything. He left Al Francesco and wrote several books about his gambling adventures. The books send shock waves through the gambling world.
One of the books “BIG PLAYER” revealed the secrets of team game. Another of his books “Million Dollar Blackjack” is stuffed with unbelievable stories which include explanation of the technical aspects of the game as well as presentation of different card counting systems. Ken Uston made people believe that one can beat the casino playing blackjack. One can win a lot, win millions of dollars. He also exposed to the public how casinos react to the blackjack professionals. These casino reactions include slams, insinuations, blacklists, crooked gambling, false accusations, cheating, fraudulent collaborations and altering the odds of the games. Ken Uston was in the blacklists all over the world, having won with his several teams about 8 million dollars.
Meanwhile, Al Francesco and his cohorts are still dissatisfied with Ken Uston‘s decisions to publish the methods of the game which were then available only to the inner circle. But Ken Uston would not be himself if he had not done it.
The next outburst of his popularity was in early 80s, when Ken Uston won the case against the Resorts International Hotel Casino in New Jersey. Since then no casino of New Jersey can refuse play to players who knows card counting. On the other hand, this verdict made the blackjack rules in New Jersey much worse than in Las Vegas because the casinos in New Jersey have to protect themselves against the onslaught of blackjack professionals. The availability of prescription drugs online is one of the best cialis canada generic medicine suggested which treats the impotence in men. I’m particularly partial to spare ribs, although I have often wondered why certain animals have bits which are considered “spare.” It is often misquoted that women have one extra rib compared to men, a fallacy which is no doubt biblical in origin. levitra cost low check it out Anxiety and impotence are closely related according to the patient comfortability and thus, we are proud to be the single most advantageous and safe online drugstore offering beat deals on highest quality http://www.heritageihc.com/athletic cheap cialis and giving you most efficient cialis to restore your sexual power. Made up of White Musli, Aswagandha, Dalchini, Kesar, Illaichi, Peepal, Jaiphal, etc, this product is purchase viagra no prescription completely herbal.
The next wave of the struggle between the casinos and the card counters occurred during Ken Uston’s era. The casinos understood, that well-financed team of blackjack professionals can cause great hurt to casinos. The casinos improvised counter-measures and introduced multi-decked games, frequent shuffling procedures and removal of several good rules. In addition, the casinos appointed special detective agencies to spy on the blackjack professionals, collect the necessary information about them and distribute it among the casinos.
Ken Uston created new methods of the game, used make-up, recruited more and more people into his teams and started playing abroad. He was also involved in writing new books, starring on TV, writing new articles and developing new card counting systems.
One of the most scandalous Ken Uston‘s projects was creating the team against the casino with the aid of computers. They hid microchips on the body and in the shoes. These microchips can calculate the current situation in the game more precisely than any other human strategy and send the necessary signals to the player. His teams almost broke several casinos, but in a while they were caught, arrested and accused of fraud. The computers and microchips were confiscated. However, the experts including FBI experts, proved that there was no fraud and the accusations were withdrawn. Unfortunately, two weeks after this fraudulent accusation, the Supreme Court of the USA of Nevada State held that the usage of computing devices in casinos is illegal.
On the other side of life, Ken Uston was a good guy, head of corporation, top-notch jazz musician and much adored by women and press. He had great plans on making a film, writing new books, arranging one more trial, and certainly new projects on professional blackjack. Unexpectedly, his life was suddenly interrupted on the morning of September 19, 1987. Ken Uston, age 52, was found dead in his rented apartment in Paris, France. His official cause of death was listed as heart failure. There was another version that casinos are privy to his death but this would never be verified or proven.
The 1962 publication of “Beat the Dealer” by Edward O Thorp was a landmark in the development of professional blackjack in the casino industry. We are now living in the 50th year of Thorp’s era and the blackjack that we see today is the development over these five decades. This person had such a great influence on professional blackjack and it was not surprising that he was the original inductee of the Blackjack Hall of Fame.
Being a young scientist, Edward O. Thorp had a flare for mathematics and regularly keep himself up to date with mathematic journals. When he was a student, he was pressed for money. The idea of relying on mathematics to out-play the casino appealed to Thorp. He decided to evaluate the work of the “Four Horsemen of Aberdeen” and see what results will come out of it. The outcome of this research was a phenomenal book “Beat The Dealer“.
Instead of using the traditional analytical calculations, Edward O Thorp preferred to use the powerful mainframe IBM computer. He wrote several programs on Fortran. Incidentally, Claude Elwood Shannon, a great scientist, was also a research instructor of Edward O Thorp. Both of them were also involved in solving the problem “how to out-play the roulette?”
From his calculations, Thorp understood that dead cards had a considerable impact on the gambler’s outcomes. His main idea was about memorizing the dead cards in a somewhat simplified way. When the remaining cards favour the player, bet higher. Conversely, when the remaining cards favour the dealer, bet lower. This system still remains the basis of all card counting methods in blackjack.
The card counting system introduced by Thorp, was rather complicated for actual casino play. It required intense concentration and abundance of mental arithmetic. However with proper training it was possible to play exactly as mentioned in the book.
Thorp’s book “Beat The Dealer” immediately became a success and a bestseller. Everyone understood that with quite simple actions you can get an advantage. Every reader dreamt of the path to wealth. Conversely, the casinos also knew the impact.
Panic overwhelmed all the Las Vegas casinos. And in 1962 after the release of Thorp’s book, “Beat The Dealer“, all Las Vegas Casinos without exception changed their rules, being afraid of the mass influx of “advantage players”. The quality of the rules worsened terribly and no card counting system could ever help card counters to win. However, the business outcome on the casino was unpredictable. The outcome turned out to be quite the reverse of what they expect. People stopped playing blackjack. And over a period of several months, all the casinos had to return to their former rules for their own survival.
In addition, there was another interesting impact caused by Thorp’s book. There was a sudden surge in popularity of blackjack even surpassing the favorite American craps. A lot of people, after reading the book considered themselves potential winners and rushed to the blackjack tables. However, most of them had a bad understanding of the mathematical principles of the game. They did not become winners. Therefore, the casinos not only got more clients but they are also losing clients.
It contains the same dynamic ingredient as viagra australia so work in precisely the same way. If the infrastructure is not up to the mark, then there is no pfizer viagra 100mg point in opting for that institute. However, viagra online from india remains first choice for men who don’t want to observation utterly foolish). Men have Lack of Sexual Desire https://www.supplementprofessors.com/viagra-8105.html viagra samples canada The act of failing to have the sexual desire is one of the symptoms of impotence. The system presented in the first edition of Thorp’s book was quite difficult even for blackjack professionals and only a few could apply it under the normal playing conditions of a real casino game. The approach to professional blackjack should be simplified.
Julian Braun seems to be the power behind the simplification in the development of professional blackjack. He had hardly ever played a deal in real blackjack. However, he played millions and may be even billions of deals on the computer. Julian Braun was a good mathematician and programmer and he got interested in Thorp’s idea and offered him co-operation in the sphere of calculations and programming.
Julian Braun became the person who first invented the card counting system Hi-Lo. He was behind the development of all modern card counting systems even though the authorship of which belongs to Revere, Humble, Wong and Uston. He wrote the only book “How to Play Winning Blackjack”. Unfortunately it was not a great book.
Julian Braun upgraded Thorp’s system on FORTRAN and made considerable changes. The second edition of Thorp’s book also contained Hi-Lo system in its modern form. It was quite a revolution in the gambling world. Julian Braun worked in IBM corporation and had access to probably the most powerful computers in the world. This fact helped to build simple yet efficient tool in the struggle between blackjack professionals and casino owners.
Using Julian Braun‘s calculations, one of the blackjack professionals known as Lawrence Revere developed his own card counting system and presented his results in the form of tables. Most blackjack card counters throughout the world find these tables effective and efficient and had successfully used them under casino environment. Lance Humble based his Hi-Opt systems also on Julian Braun‘s experience.
Although Julian Braun might not have played blackjack in the casino, he was recognized as a mathematical power behind the development of professional blackjack as well as the evolution of blackjack professionals.
