In depth discussion from an x-gambler, turned casino host and presently in a position as senior Vice President of a long establish full casino that is Indian owned. They do have a pretty good baccarat trade and they have a couple of $5,000.00 max limit bac tables, all the table games, slots, bingo, keno, Poker, 24/7 everything, hotel, restaurants and events. As well, a couple of long time players of table games. Just to give you the back ground as to whom this info came from within this post.
We discussed in detail mostly about players and how players think, justify and continue their play.
Here is the recap for those of you that follow what I write about.
Each player craves the next step up and never looking at anything wrong or negative to his own play he has done. All they want is larger wins and longer play.
It is not just gambling, it is all hype related gigs. Street hustlers crave to be slick shop lifters, the shop lifters crave to be a jewelry thief. Jewelry thieves crave to be a Wall Street cheat and con man. Wall Street con men crave to be the next large scam pyramid scam director, perfect example like Bernie Madoff.
Without complete knowledge the game is on. You are just along for the ride without any real control, until it is far too late. Without control, we were referring to the tools, the experience, the know-how of tangible and viable and proven info and data, etc. Without those things, it would be the same results as giving a real chain saw, assorted heavy duty power tools or a circular wood cutting power saw to a toddler. Huge damage that will be inflicted, sometimes real quick and other times, might take a little while. But the damage is there, just how is the person going to know how to deal with it or even what it is, if he is not aware of it?
We talked and talk into the night. Had dinner, sat and talk. Real talk. Add up the years of casino familiarization, play and employment. You would have every bit of 125 years of actual interfacing with the gambling industry in brick and mortar places within the USA. From the main floor tables, to the high limit rooms, to the marketing aspect, both on the insight as well as the gambler vision of both.
Lots of talk and discussion of the pre-2008 economic crash and the effect on the casino industry to the marketing program with the issuance of player points and how players used to be able to maintain those points while still being comped for rooms/suite/food and beverage as well as other things and then how Caesar's (CET) and MGM both pulled those programs and lost huge with all player's points being removed at the time of comp issuance, etc., and how it basically stands today for the larger of the chain casino properties. As well, about the unwritten 4 hour play rule and various levels of comp issuance depending on the players average bets, time and game being played, etc.
Then we moved on to what we talked about for hours and it was enlightening. Something I touched about with great detail on BetSelection. The psych of the player. Decisions, justification, belief in methods, systems, triggers, patterns and trends, etc., etc., and so on. The summation on that part is as follows.
The psychology of your brain that allows you to only recall the best, the most positive, absolutely fantastic events all the while forgetting all the negativity, that went right along or was caused, because of that very same event is called, Euphoric Recall. It is a recognized psychological term, look it up, Google it. As well as two other ones, 1) Cognitive Biases (How the observer or the person effected is drastically skewed with false positives concerning basic statistical and memory errors to suit the support of his Euphoric Recalls), and 2) Peak End Rule. (How the gambler/player will only judge an experience almost solely based on how they felt or what happened at its peak, rather than based on the total sum or average of every moment of that experience, which also supports his Euphoric Recall).
Therefore, the player has built himself, what he feels is a tangible mechanism that dictates you only remember all the good and none of the bad. Then you will subconsciously enter into all the justification you need to answer all your own internal questions and provide you with countless excuses that makes you, "only right" and everyone else basically wrong or have no idea what they are telling you. And simply, that is your fuel that controls you and causes you to continually lose.
High and oblivious with your false positives galore, from luck you had to the passion you have to get your cash back, to some spot on wins that follow your perceived methods or system, will allow yourself to be susceptible to almost anything, no matter if it fits your agenda or not. And, that is probably one of the player's biggest downfalls, being influenced by others (at the casino, on the internet, system sellers, false facts, out of date or non-applicable books and info, movies such as the MIT blackjack drama with almost all fictitious events, which was the Hollywood movie 21; to casino hosts, to marketing ploys, to your own brain telling you that you can get rich and live a great life gambling, etc., etc. OMG! We had tears coming from our eyes when we discussed how much money that movie made all the casinos and how it still does to this very day with the millions and millions of susceptible people turning card counting pro and all the beliefs and attempts in that. Even in the ones that still swear by it to this very day.
What a great conversation with others!