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[alrelax]

(All has been copied and posted from another 2014 thread here on BetSelection.  IMO pretty much spot on 100% especially the pieces about negative progression and walking away with small wins.  I tried to express something similar and my 1/3rd system pretty much will fuel winning progressions as he talks about).


Wise words from Tony Renzoni....a professional Baccarat player.

« on: January 29, 2014, 07:38:59 PM »
 
I have recently finished reading a book called 'Renzoni on Baccarat'

It was published some 41 years ago and there is no system/strategy as such. However there is certainly a lot of common sense and sound advice. It can apply to all table games and so I am going to put up some extracts from the book.

Renzoni took the game of Baccarat from Cuba over to Vegas where the game was first introduced at the Sands Hotel. Renzoni is said to have witnessed between 10 and 20 million Baccarat decisions in his 40 years as a professional.
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Re: Wise words from Tony Renzoni....a professional Baccarat player.

« Reply #1 on: January 29, 2014, 08:23:50 PM »



''If there is one thing I have learned about gambling, it's to recognize and respect streaks. This is true, incidentally, in all casino games.

If, for example, the cards favour the player for three consecutive decisions, then your next bet should either be player or you shouldn't bet at all! If you lose, you lose only one wager. If you bet against the trend, you can be suckered into betting and betting and betting. I have seen more fortunes lost by people who became emotionally committed to one position that went against the trend than through any other folly in gaming!

Don't buck a trend. Either swing over or don't wager. I consider three or more decisions in one direction enough to be considered a trend.''


''I have developed a certain gambling philosophy over the years. One of the basics of that philosophy is to take advantage of those times when I have a winning pattern going for me. And one of the ways I do that, take advantage of the good luck, is to keep playing.
The majority of people come into a casino and when they get lucky they quit to soon. They start out with a couple of hundred dollars, win $500 and walk out with the feeling that they have scored a tremendous victory over the casino. Those same people will come back time after time and drop $50, $100, $200 each visit, and without realizing it they still aren't ahead when they do get lucky. Because they quit playing too soon. Vegas casinos are so plush and luxurious because people don't always cut their losses but they cut their winnings!

It's easy to understand. Everybody is influenced by that old saying ''quit while you're ahead'' but they don't realize that the saying has a catch when it is applied to gambling. It's certainly a good idea to quit while you're ahead, but shouldn't you figure out what ''ahead'' really means in your case? You might be ahead for the evening, but are you ahead or even close to it as far as the whole year is concerned? and are you winning as much as you ought to be?

Most people, unfortunately, bet either the same way whether they're winning or losing, or they bet just the opposite of the way a professional gambler will. By that I mean they bet too much on each decision when they are in a losing pattern, and they bet too little when they're winning. They just don't take advantage of winning patterns that come their way.

Of course you never know when a pattern is going to change. You may be winning handsomely and then it turns around into a losing streak. But why walk away from the table until you have had some sufficient evidence that decisions are not going your way, that your win pattern has ended.

It takes nerves to play up your winnings, but think about it. What are you gambling for? If it's to win some money, why not win as much as you can? Pressing your bets when winning is the hallmark of every professional I have ever known. The casino need have no fear of the person who wins and continues his conservative wagering. The dangerous player is the one who presses (raises his bets) when he is winning.
In Vegas they have an expression about some high rollers that goes like this: ''You've got to watch him. He presses when he is winning and if you're not careful, he'll write you a new address!''

Most people will say ''what if you don't win on the third or fourth try?'' Well that's always possible. So you lose what? Only winnings, not your original bankroll. And isn't it worth risking money you've just won from a casino when you have the chance to win ten to twelve times as much betting the professional way?''

more to follow...... I have to type this out.. 
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Re: Wise words from Tony Renzoni....a professional Baccarat player.

« Reply #3 on: January 29, 2014, 09:09:20 PM »

     
''If you really want to know the truth, there are no ''secrets'' about professional gambling. They are however the 'facts of life' that many participants don't know or never spend the time to discover.

When it comes to gambling the way professionals do, there are only three basic ingredients: Knowledge, acquired skill and money management. Oh, there are a lot of little things to learn, things that time and experience will tell you. Most of these important secondary gambling adages are no more than common sense.

For example, gamble when you are well rested, and when nothing negative can cloud your mind and affect your perception, analysis and decision making. I don't think anyone should gamble who is afraid of losing. It's obvious that when your confidence is shaky your performance will be bad.

To gamble, you don't have to begin with a lot of money, but you certainly need some nerve and some courage. Because effective gambling, like accomplished skiing, sometimes requires you to go against some very basic instincts.

In gambling, the key is to control your losses and capitalize on winning streak. In other words, to lose as little as possible and win as much as possible. There are ways to accomplish this. Every professional knows these principles.

Simply stated, they consist of (1) Keeping to low average bet while you are losing and (2) doubling up almost everytime you win. Most people do just the opposite, doubling up when they are losing in a foolish attempt to get there losses back fast, and restricting themselves by becoming conservative when they begin to win. It's the old story of self-preservation. They lose and they think they must get back to a break-even point as quickly as possible. So they double up before coming into a win pattern, and what happens?

If a man has lost three or four $10 bets in a row and then begins doubling up on each of five subsequent losing bets, he will blow a total of $620 trying to get back $30 or $40. Most amateur or occasional gamblers will quit at this point, or well before it because they did not follow or were unaware of the professional principle that applies to losing streaks, or patterns.

A professional gambler rides his luck when he is winning. But you'll never see a professional bet the same amount consistently when he's winning-unless it's the house limit.''

more to follow.....
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Re: Wise words from Tony Renzoni....a professional Baccarat player.

« Reply #4 on: January 29, 2014, 09:36:29 PM »
   
''If you are ever to have even a remote chance of walking away a winner more than occasionally, you must practice what professionals call ''money management''.

Always try to get the strength out of your money.

The objectives of the philosophy are rather simple and to the point. Objective Number One, is as I've said, to control your losses while you are losing so that you have a chance to last out your unlucky drift and take advantage of a subsequent win pattern.

Objective Number Two: To win more than the amount of money you start gambling with, possibly many times more, if you are winning-and to break even or stay ahead if you lose more decisions than you win on a given night.

Sounds acceptable, doesn't it? And all you have to do to reach these two goals is:

1) Stick to a low average bet when you are losing, and....

2) Increase your wagers as soon as a winning trend is indicated.

Every professional I have ever known has followed these principles strictly. Yet few amateur or casual gamblers do. Why, I'll never know. People read up on, investigate, learn about and try to apply professional principles to everything they do with the exception of gambling, in gambling, amateurs tend to remain amateurs, though they obviously don't have to.''

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[alrelax]

The strongest advise and the most important, stop playing for the cut--those that play repeatedly.  I personally witness so many great streak opportunities missed and players instant-trip bankrupt for their continual cut beliefs.  It is the most absurd thing I have every seen. (And for streak opportunities, IMO--they happen three ways, vertical-horizontal and a combination of those as well---not just 6 or 9 or 14 in a repeating vertical row, etc.)

Second, I endorse the stop to the negative progression 'make up' the loss wagers.  That will backfire so easily on the player, IMO!

Third, the progressions of the win money--nothing else to be said, so sweet!

[Ehtelgaeb]

Conservatively

10,000,000 games in 40 years = 250,000 games per year
250,000 games in 50 weeks per year = 5,000 games per week
5,000 games per week in 5 days per week = 1,000 games per day
1,000 games per day in 10 hours per day = 100 games per hour

That's a lot of Baccarat.

[alrelax]

Conservatively

10,000,000 games in 40 years = 250,000 games per year
250,000 games in 50 weeks per year = 5,000 games per week
5,000 games per week in 5 days per week = 1,000 games per day
1,000 games per day in 10 hours per day = 100 games per hour

That's a lot of Baccarat.

If I am figuring this correct, it would go more like this:

10,000,000 decisions in 40 years
125,000 games 40/Years
3,125 games per year
260 games/monthly
Average 8.6 shoes a day

[yrag89]

where can i get the book?

[alrelax]

If I recall, that was an old small book, but pretty good for the basic, not systems and a bunch of maybe this maybe that type of wishful stuff.  Out of print, try Amazon or Ebay.  Let me know if you find it.

[Nathan Detroit5]

Baccarat Hall of Fame :



http://worldseriesofbaccarat.com/Baccarat_Hall_Of_Fame_.html

[Ehtelgaeb]

You're right. It was 10,000,000 decisions not games.

[vo rogue]

hall of fame phewy, weres gr8, rolex ,soxfan ?.

[Nathan Detroit5]

hall of fame phewy, weres gr8, rolex ,soxfan ?.

None of the above.. I would consider relax as being the  best baccarat layer on this forum ..