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[alrelax]

Theoretical Vs. Practical Reality Knowledge

Let me make it clear and state it right away.  Practical Knowledge is superior to theoretical gambling knowledge and as well, Practical Knowledge is incredibly important to any career and life in general.  Whether gambling, a non-related gambling career as well as life in general, all three of them, cannot and will not excel in Theoretical Knowledge only. 

With that said.  When it comes to the knowledge we all possess, use, govern ourselves, base decisions on and everything else related to those, there are different kinds and different ways.  On one side there is the theory way and on the other side, there is the practical application of that same side of theory.  There are distinct sides to each one, don't become confused with the oversimplification of the way so many attempt to streamline theoretical and reduce it to scheduled and reoccurring events.  That is salesmanship and intelligence modification that many fall prey to and become convinced of fallacy, lies, twisted truths, manipulated wishes, etc. 

But there is a theoretical side to gambling and baccarat play that used in the correct context can certainly add ammunition and tool box knowledge to the holder.  Such as, 'why' things happen, 'how come' things happened, and countless techniques that could succeed or likewise, might very well fail.  But no theory and I stress, not a single one, can succeed over and over with continuous redundancy the way so many seek, attempt to sell or wish for.  That is the key to understand reality with this subject.

So what is theoretical knowledge good for?  IMO, it is good for building your context of all the subject involved within gambling as well as baccarat.  You should have the context in order to set you strategy or at least know, where and how to proceed within the game when you are involved in it.  You can use theory to accomplish that, learning from the experience, trails, efforts, writings of others mixed with your own interpretation of those into some kind of viable fuel that you can implement. 

If the theoretical end of it all leads you to a deeper and more thorough understanding as to the 'why' behind it all, then you are well on a great path to better success than the uninformed person would be. 

Now, the Practical Knowledge, is the tougher one.  The practical end of baccarat play has to come from the actual gambling itself.  There is no two ways about it.  You will gain the specific techniques that will become, for simplicity sake here, your tools of the trade.  Keep separate but conscious of, theory being the ideal end of it and/or the reasoning behind it all.  The practical end of it, being the outcome and the actual varying events without restriction or guidance to the theory end of it all.  Do not fall prey to the biggest common mistake by most gamblers, which is convincing yourself that the theory end of it has to happen in any certain order or timing.

Both are extremely important, but without each other, you won't survive.  Theory cannot always be present and theory might continually present itself in different and varying ways.  That is where your practical knowledge will take over and apply a more specific solution or decision to what you are faced with in the game of baccarat.  It is a game, it is not a puzzle to be solved, and there are not definitive solutions. 

You have to mix the theoretical side of it with the practical side of the same thing.  The goal you need to focus on, is getting both ends of the spectrum to meet the majority of the times.   

[MadeleineTD]

There is no sense in having theoretical knowledge in gambling if you don't have any experience in applying your knowledge.

[KungFuBac]

Hi MadeleineTD

Welcome to forum.

I agree with your post below:

"...There is no sense in having theoretical knowledge in gambling if you don't have any experience in applying your knowledge."


I think the key is as a player we should seek a balance between the two(Theory & Application). Unfortunately in gambling and (unlike most professions, sports, hobbies), there is not a predefined curriculum  or manual one can study and then go apply exactly as written.

IMO many gamblers do one to the extreme and neglect the other in the theoretical vs practitioner game.

Gambling is unique when compared with other hobbies or occupations in that we must learn by doing. No simulator, no internship, no precise textbook,...etc. Sometimes the class tuition can be very expensive because it is all hands on (i.e., in the cas).


Continued Success,

[Albalaha]

I disagree to the basic idea that theoretical knowledge is inferior to practical knowledge, specially in the context of gambling. Gambling is not something that can be perfected with practice. It is not a driving skill or boxing where one can say that practice makes a man perfect. A person having sound knowledge of probability and other mathematical gambling theories will be far from the fallacies and wrong expectations and will be at lesser harm than those who are oblivious of them and only have "experience" to play in casino for years. Unless someone's experience gives him some skill, he is always inferior to someone who has good theoretical knowledge about gambling.
            All known big successful gamblers be it Jagger or Pelayo or Eudemonic Pie or Edward Thorpe, all could beat casinos with their theoretical knowledge and none could do it so with experience with practice.

[KungFuBac]

Hi Albalaha
"...I disagree to the basic idea that theoretical knowledge is inferior to practical knowledge, specially in the context of gambling..."

I agree.

I also believe theoretical knowledge is not superior to practical knowledge. One must seek balance. IMO one without the other in a similar proportion, at similar stages in our development,  makes the learning curve much longer.

Much of the "seeking balance" is dependent on our self assessment of where we are at that beginning stage.  Sometimes self assessment is not entirely accurate.

We each enter our gambling careers with a variety of backgrounds that may or may not be applicable(generalizable) to gambling in general and our specific game of choice.

We must seek balance by constantly doing a self assessment and taking corrective actions to compensate insufficiency in our theoretical(or knowledge) state. This is done by the application of theories through real live casino action (with real money).
 
With the aid of the practicum part (i.e., Application to real casino results), one should then be able to make adjustments from the mode of passively acquiring knowledge to positively applying via the combination of theoretical knowledge and practicum knowledge. Not one without the other.

IMO  success is much easier if we utilize both in a near equal ratio. We should always be going back/forth between each as we strive to improve.


Continued Success,

[Mercury1989]

Every single gambling forum I come across shares the sentiment that theoretical knowledge far outweighs practical knowledge when it comes to something as dependent on your understanding of theory as gambling. People read books on gambling and it helps so much more than any practice could ever. You need to understand the basic concepts of probability and math very well to gamble properly and earn significant money with it. I have been gambling for the longest time and I have come into gambling with theoretical knowledge alone which was enough for me to never lose more than I earn. Practice sure is important but compared to theory it is nearly irrelevant. The balance that should be struck is quite unbalanced in favor of the theory.