Question

In: Economics

What are three distinct traits that make up a good gambler profile? Please provide data and...

What are three distinct traits that make up a good gambler profile? Please provide data and examples.

Solutions

Expert Solution

Professionals probably don't even call it gambling because they strive to suspend the influence of chance as much as possible by walking distances with their experience, talents, tactics, preparation, and science.
Like all of us do in every walk of life, professional gamblers do so for a living, as the word means.
As far as possible, they seem to be well-versed in anything relevant. Sports, casinos, traders, seats. Players, their activities, routines, modes of actions, customs. Experiences, rumours, estimates, chances, measurements. These players are, of course, experts in advanced game strategy and they also read a lot, not just news and papers, but also books, seeking to be as knowledgeable and informed as possible.

They do not like surprises and rely heavily on knowledge, persistence, stability, perseverance, strategies, and betting processes. They play tightly, typically get good money, check the odds, fold when the time is right, and rarely go off the tracks. Professionals have ample financial resources to engage in casinos and will also well have potential income sources to manage cash flow.

It's individual when it comes to games they enjoy. Since they are too unpredictable or too vulnerable to chance, poker or blackjack are common suspects, giving a strong mix of chance and ability at the low edge of the estate.

Retirement-wise, it's hard to imagine career gamblers not competing until they can, at least in some capacity, but it actually depends on personal tastes and results. Although they hold their desires in control, it is probably fair to say that their final gambling equilibrium resides in the inner one, so they are not vulnerable to compulsive problems.


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