Is there really such a thing as a professional gambler? The answer is an unequivocal yes! The authors of this book are but two examples. The truth is that there are many thousands of people around the country who make a good living exclusively from gambling. It is not easy but it can be done. The key ideas are to understand which games are beatable and how to beat them. David Sklansky and Mason Malmuth have both spent many years writing about the finer points of poker, blackjack, and other beatable games. (As you will see in the book those other "games" are horses, sports, progressive slots and video poker, casino tournaments, and special promotions. They don’t include craps, roulette, keno, or baccarat for reasons explained herein.) This book, however, was written for the not-quite-as-experienced aspiring gambler. It shows you everything you need to learn and do if you want to gamble for a living both from the practical and the technical standpoint. The rest is up to you.
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(1)In 1956 two Bell Labs scientists discovered the scientific formula for getting rich. One was mathematician Claude Shannon, neurotic father of our digital age, whose genius is ranked with Einstein's. The other was John L. Kelly, Jr., a Texas-born, gun-toting physicist. Together they applied the science of information theory-the basis of computers and the Internet-to the problem of making as much money as possible, as fast as possible. Shannon and MIT mathematician Edward O. Thorp took the "Kelly formula" to the roulette and blackjack tables of Las Vegas. It worked. They realized that there was even more money to be made in the stock market, specifically in the risky trading known as arbitrage. Thorp used the Kelly system with his phenomenonally successful hedge fund Princeton-Newport Partners. Shannon became a successful investor, too, topping even Warren Buffett's rate of return and using his wealth to drop out of the scientific world. Fortune's Formula traces how the Kelly formula sparked controversy even as it made fortunes at racetracks, casinos, and trading desks. It reveals the dark side of this alluring scheme, which is founded on exploiting an insider's edge. The cast of character spans J. Edgar Hoover, Rudolph Giuliani, Michael Milken and Warren Buffett; Hollywood producers, Wall Street crooks, snarky Nobel Laureates, and the Jewish mob. Fortune's Formula explores a new and surprising side to the Shannon legacy. Based in part on Shannon's previously unseen personal records as well as interviews with both of Shannon's wives, Thorp, and many others, it is the first full-length treatment of a subject that is changing ideas about finance. Claude Shannon believed it was possible for a smart investor to beat the market - and Fortune's Formula will convince you he was right.
Betfair is the world's leading online betting exchange. Launched in 2000, its annual revenues reached 145m in 2006. In the last year, Betfair has more than doubled its number of registered users. Since the first edition of the book was published, the total number of Betfair websites has risen to 18, and an Australian exchange has launched. The services Betfair offer have also expanded, including a telephone betting operation and new games including poker, blackjack and baccarat.
This is the definitive insider's guide to playing and winning on Betfair. Written by Betfair insiders it gives you the full picture of how Betfair works; it explains the terms and jargon, helps you get started on the site, introduces every type of play including poker and the Betfair Casino - and offers tips and insider know-how that both newcomers seasoned Betfair punters can use to maximise returns.
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(3)What "secret" separates top poker players from poker wannabes? Is it zen-like mind-reading skills, a computer-like brain or thousands of hours of play? No. It is a series of established approaches and behaviors that enables these experts to bring their "A" game to the table session after session, regardless of short-term results. In this groundbreaking book, Taylor and Hilger lay bare the secrets of the Poker Mindset: seven core attitudes and concepts that ensure you have the optimal emotional, psychological, and behavioral framework for playing superior poker. The Poker Mindset deeply explores vital topics that most poker books only touch upon:
- Tilt: What it really is, why and when you are most prone to it, and how you can avoid it.
- Bankroll: A complete examination of bankroll management from a technical, but more importantly, from a psychological and emotional viewpoint.
- Opponents: How to determine your competitors' mental and emotional processes so that you can dominate, out think and outplay them.
- Downswings: Every poker player experiences them, but you will truly understand and be armed against low ebbs when they occur.
- Bad Beats: The Poker Mindset will enable you to overcome the trauma of bad beats and losing big pots. Poker is a fun game, but it is even more fun when you win. The Poker Mindset may be the most valuable poker book you will ever read. Embrace its concepts and you can overcome the unseen obstacles that are limiting your success at the table. When you make the Poker Mindset your mindset, you will take control of your game and walk away a winner.
