The Money Fairy! Casino Winnings!

We know that casinos use chips instead of real money so people will disassociate the chip with its actual value. It’s much easier to put a black chip on the table than a $100 bill. This method works quite well and often gets people to bet more and loose more.

The interesting thing that happens after you gamble for a while is the loss of your sense of real money value. You get so use to dealing in large amounts of money, you forget the true value of a dollar. Gamblers are notorious for carrying large amounts of cash. They have become desensitized to this. For them it’s no big deal. For others it’s a bit strange.

I remember when I had a real good trip to Atlantic City. I had hit a Royal flush and two other semi-jackpots.  I was up over $4,000.  My daughter happened to be with us on this trip. She was five years old and was about to lose her first tooth. She chose a great time to do so.  I guess the  tooth fairy was doing well in the casino also because she left my daughter $100 for her first tooth.  When you’re dealing with large sums of money it’s easy to forget how much a dollar or in this case $100 is really worth.

I think my wife’s eyes opened to this fact back when we just got out of college. I did a little sports gambling on the side, and one day I called my bookie to make a bet. I told him to put a “buck” on a particular team. When I got off the phone my wife wanted to know why I only bet one dollar on the game. Enough said.

Money management is a real problem for gamblers. It’s easy to get caught up in a spending spree when things are going well. Some view their new-found riches as the casino’s money. You must get rid of this mentality. This is now money you earned. Treated the same as you would any other paycheck. Don’t purchase anything you would not normally purchase because you are “up”.

Many a gamblers downfall has been lack of money management. They spend carelessly when they are doing well, but when things go bad they have no reserves. You must be disciplined in your approach. Keep track of every dime you earn and spend. When a winning streak does occur put the money away. You’ll be thankful the next time a losing streak occurs and the landlord is knocking at your door.

Once you become self disciplined, next in line is your family. They can’t understand why they can’t purchase something when daddy has all this money. Try to explain to them the reason why daddy has to save money. This will be harder than keeping yourself in check.

About Greg Elder

I was 37 years old, a husband and father, a former teacher, college and high school basketball coach, and a business owner, I decided to give it all up (Not the husband and father part) to take a shot at pro gambling. I was coming off a job I hated selling insurance, and I vowed to do something I was passionate about. For the next year I would spend 12-15 hours a day researching, studying, and practicing advantage gambling techniques. The goal was to see if I could sustain our current lifestyle as a professional gambler. I wanted to find out if casinos really could be beat. At the time, I thought it may be the biggest mistake of my life, but my intentions were to have fun trying. It has been an interesting few years since that journey began. My feature book GAMBLERS FIGHT BACK has been released and can be purchased on my author site at I would consider my pro gambling career to be a success on all fronts. I didn't win millions of dollars, but I was able to enjoy every minute of it. It brought an excitement and passion back into my professional life. It has helped lead me to a writing career that I had no idea I even wanted before this challenge. I was able to write a book that shared with others exactly what I learned along the way.. Gambling professionally is not easy, but there are certain things the average gambler can do to increase their chances of success tremendously. That's the information I try to pass along to my readers.

One Response to “The Money Fairy! Casino Winnings!”

  1. goodluckcharmsthatwork Reply March 11, 2012 at 12:38 pm

    Very interesting stuff! Thanks for all the great info!

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