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A few losers fall apart completely. If they are losing too much to get even in their current game, they move to a larger one, ignoring three critical facts:

1. Larger games are generally tougher.

2. They may not be playing their best.

3. If they are known as a lower-stakes player, their opponents may see them as weak and play more aggressively against them.

If their losses become too large, a few losers take more desperate gambles such as going to the craps table, playing roulette, or making large bets on horse races or sports, which are all–EV gambles. They usually just lose more heavily

Winners don’t get that desperate, nor do they think, ‘I’ve got to get even.’ They accept that bad beats and bad luck are just part of the game, and they do not feel much pressure to break even tonight. They focus on long-term results and accept that losing sessions, even losing months, are unavoidable. There will always be another game, and as long as they preserve their bankroll and personal equilibrium, they will end up winning.

This chapter expands the discussion of chapter 6. It states that winners focus on their expectation now. Trying to get even violates that principle because:

· Your decision is based on your previous losses, not your current expectation.

· Losing suggests (but does not prove) that your expectation is negative, while winning suggests it is positive.

You must resist the natural tendency to believe that your wins are caused by skill and your losses by bad luck. Losing often increases this self-deception. Since you don’t want to believe that you’re playing badly or that a game is too tough for you, you may exaggerate luck’s effects. Force yourself to look objectively at what has happened, realistically compare your play to the competition’s, and base the play or quit decision entirely on your current expectation.

Tacos El Rey


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