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Author Topic: Interview With A Full Time Professional Gambler  (Read 776 times)
Sea Biscuit
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« on: November 09, 2012, 02:32:32 AM »



http://thehorsehandicappingauthority.com/dave-schwartz-interviews-a-full-time-professional-gambler/

You'll have to download it to your disk first before you can listen to it.
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ThePaceMaker
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« Reply #1 on: November 09, 2012, 03:38:29 AM »

I happen to play poker for living, 5 minutes into this, would actually advise against trying to use breathing techniques to remain calm while @ the table, there are ways to decipher strength/weakness based purely on how an opponent is breathing.. Also, if he's only been playing poker for a living for yr and a half I'm guessing that he amassed his $ through other methods of gambling. Idk it seems like pro gamblers are (obviously) very good at one form but get crushed at another form of gambling. I get MURDERED betting horses. It would be foolish to consider myself a pro gambler as opposed to a pro poker player because it makes gambling on events where you may not have a large edge seem less irresponsible (and possibly even productive! Which is obv dangerous). I think having anything on credit and not paid off fully while relying on gambling income is foolish as far as stress goes.. Also, I can't imagine how stressful supporting a family off gambling income would be!! Jesus it's tough having a girlfriend tolerate the odd hours/fluctuating income let alone a wife and kids!!

Getting back to interview, thanks for posting, interesting thus far
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ThePaceMaker
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« Reply #2 on: November 09, 2012, 03:40:26 AM »

Lol I'm guessing kids aren't very understanding that their trip to Disneyworld is gonna have to wait because a king hit on the river
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Sea Biscuit
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« Reply #3 on: November 09, 2012, 09:08:13 AM »

In one of his post interview comments at PA Swartz did say it is very difficult to find professional gamblers to do an interview.

How about you Pacemaker?
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MR.DALRAE
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« Reply #4 on: November 09, 2012, 11:21:15 AM »

ALOT OF TIME AND EFFORT IS NEEDED,,,,,,,,FAMILY TIME ALWAYS TAKES A HIT
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ThePaceMaker
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« Reply #5 on: November 09, 2012, 05:03:29 PM »

In one of his post interview comments at PA Swartz did say it is very difficult to find professional gamblers to do an interview.

How about you Pacemaker?

I'd love to, any sort of forum where I can preach on the benefits of legalizing online poker for US economy is an opportunity I can't pass up. I also feel like I can touch on the darker sides of the lifestyle, I personally am prone to depression prior to playing poker and when you get in a prolonged streak of ridiculously bad luck it can be really tough to enjoy life away from table. I'm way too reliant on marijuana to stay numb at times, and even during good times I use it to "celebrate". During rough streaks its just way too easy to become a bit of a hermit and avoid the outside world. I often wonder if I was qualified to make as much $ at a regular job if that would be a better formula for a happy balanced life. Having to rely on live poker is a pain in the ass, I have to play twice as long to make a 1/3 the wage I used to online, as someone who used to play ten tables at a time playing one table is not only boring its inefficient. Playing live also makes reviewing hand histories virtually impossible. On the plus side, the live poker players at the mid-stake for the most part are absolutely atrocious.. There are some good players at 5$/10$ NL and up but they're pretty easy to spot and there are just enough awful players to make it very worthwhile.

Quick thing about horses- I feel like I'm decent at it, get back about 90c on the dollar, but, I'm one of those guys who doesn't stay seated for more than 5 minute bc I play pretty much every race at every track. Obv I didn't start winning right away at high stake SNG, high stake heads up and cash but I figured it out. Am I stupid to think that I can ever beat the horses? I know betting every race is guaranteed recipe for failure.. I guess poker isn't gambling at this point and I love the rush of watching races. I've actually thought about filling out a race track ban form as I lose about 20% of profits but for the life of me I just can't stay away!! I'm only 26 and I realize that most players have been playing longer than I've been alive thus am at marked disadvantage.. Now that NBA is back will prob cut down but sad truth is I literally cannot stay away from racetrack lol
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TKs Skipper
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« Reply #6 on: November 09, 2012, 06:31:03 PM »

join the club pace. if i am away from harness gambling for more than 1 week, its a horror show. if harness racing dies, im gonna have some severe emotional/psychological issues that no shrink would be able to fix
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ThePaceMaker
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« Reply #7 on: November 09, 2012, 06:52:07 PM »

Thanks for bringing up shrink btw, I actually see a guy once a week, really invaluable having a guy who offers support, advice, can really help during rough patches.. My mental makeup isn't ideal for gambling as a means of income as I can be too emotional. Another thing, when you're losing its just soooo easy to avoid the outside world, after disgusto bad luck streaks you really don't want to be around ppl.

TKS, you do well betting horses right? I think I've read you saying that you are a profitable horse player, which in my opinion is probably the most challenging way to make $ gambling. With the 25% takeout, virtually no one can break even let alone win so first I gotta say I have a ton of respect. Do you gamble on other things? It's hard to hold onto money won gambling even if gambling is your job. Do you find that making a steady income, over time, decreases the same rush you initially got when you first started playing and kind of need to look elsewhere to replace that adrenaline rush you used to get? Thanks for responding, good luck out there! In poker, the odds are the odds, the deck is random and therefore what cards come out are beyond any humans control. Contrarily, in racing, there's a huge amount of human error involved- how do you stay calm after a bad drive? The King of hearts never makes a bonehead move and screws up but drivers do all the time. Is it more difficult in racing when you can blame individuals for losing a bet for you as opposed to random fluctuations of luck and probability? Or are they one in the same?

Thanks TKS
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TKs Skipper
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« Reply #8 on: November 09, 2012, 07:00:53 PM »

i have never disclosed too much personal info regarding my personal win/loss on these sites. if you are interested, i can tell you more about it offline

i have told you, though, that my best ROI track is yonkers

to answer your question(s). i have to grown to the point that a bad luck drive/trip bothers me very minimally. i am a grinder and its on to the next race. i pretty much play all races at the few tracks that i concentrate on, especially since i am a multi-race bettor
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ThePaceMaker
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« Reply #9 on: November 09, 2012, 07:13:39 PM »

I guess the most pressing question I have regarding optimal betting in horses is this: do you alter the size of your wagers based on confidence or do you basically have a standard bet size?  I'm not a huge bettor, bet around 20 a race when not confident, several hundred when very confident.. I know that I probably bet more when confident on a favorite vs 10:1 or more which I can see is not necessarily smart.. I guess the question is, do you alter bet size often or make standard wager size regardless of scenario?
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FVRedhot
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« Reply #10 on: November 09, 2012, 07:38:30 PM »

Situation and circumstances always dictate investment level, horses or otherwise.  Let those guide the size of your wager. 

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TKs Skipper
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« Reply #11 on: November 09, 2012, 07:41:22 PM »

I guess the most pressing question I have regarding optimal betting in horses is this: do you alter the size of your wagers based on confidence or do you basically have a standard bet size?  I'm not a huge bettor, bet around 20 a race when not confident, several hundred when very confident.. I know that I probably bet more when confident on a favorite vs 10:1 or more which I can see is not necessarily smart.. I guess the question is, do you alter bet size often or make standard wager size regardless of scenario?

increased confidence or perceived value, the more i bet. bet sizes vary wildly
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ThePaceMaker
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« Reply #12 on: November 09, 2012, 07:57:45 PM »

Thanks guys, I felt that way too as well but have read differing opinions. This doesn't really apply to me as much as I rarely play P3 (though LOVE rolling P3's and doubles), how do u go about determining value in a multi race pool? Is it kind of rough estimates? Also, TKS, as a YR guy how do you handle the Brennan/GGH factor? Do you usually feel obligated to include their entry fearing them breaking a ticket or do you try to avoid including him as much as poss considering the general public play him in virtually every multi race ticket?

Furthermore, are there any math based methods of determining a horses probability of winning? Also, do you guys ever print out a track layout and place items on it representing horses to play out possible trip/pace scenarios? I've thought that might help out but haven't actually yet played around w/ it
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TKs Skipper
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« Reply #13 on: November 09, 2012, 08:03:17 PM »

if its the first leg of a multi race wager, and its a stone-cold Herrera stick-job, i wont bet the sequence

remember when costanza succeeded when he did the opposite of everything he ever knew? thats the best advice i can give to horse gamblers, and maybe any other situation in life.
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ThePaceMaker
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« Reply #14 on: November 09, 2012, 08:10:42 PM »

if its the first leg of a multi race wager, and its a stone-cold Herrera stick-job, i wont bet the sequence

remember when costanza succeeded when he did the opposite of everything he ever knew? thats the best advice i can give to horse gamblers, and maybe any other situation in life.


Great analogy!!
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Sea Biscuit
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« Reply #15 on: November 09, 2012, 08:14:00 PM »

Thanks guys, I felt that way too as well but have read differing opinions. This doesn't really apply to me as much as I rarely play P3 (though LOVE rolling P3's and doubles), how do u go about determining value in a multi race pool? Is it kind of rough estimates? Also, TKS, as a YR guy how do you handle the Brennan/GGH factor? Do you usually feel obligated to include their entry fearing them breaking a ticket or do you try to avoid including him as much as poss considering the general public play him in virtually every multi race ticket?

Furthermore, are there any math based methods of determining a horses probability of winning? Also, do you guys ever print out a track layout and place items on it representing horses to play out possible trip/pace scenarios? I've thought that might help out but haven't actually yet played around w/ it

Pacemaker: The pro gambler in the interview spoke abut coaches and paying top dollar for consulting them.

Do you have any coaches?
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ThePaceMaker
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« Reply #16 on: November 09, 2012, 09:02:39 PM »

Pacemaker: The pro gambler in the interview spoke abut coaches and paying top dollar for consulting them.

Do you have any coaches?

I wouldn't call them coaches so much as I would peers but yeah, there's an incredible forum for poker called twoplustwo, it's a forum w/ tons of great, free resources. Now that I play exclusively live reviewing hand history is virtually impossible. To get the most out of review, it helps a lot to have other ppl's history. Obv online or live you don't know exactly what opponent is holding but judging by the amount of hands they play combined with the hands they show at end of a pot you get a better sense of their range of hands. Recording this stuff live as it happens is pretty much impossible. In poker, you accomplish different things through bet size and determining exactly how much is in pot as well as how much opponents are betting without slowing down the game is simply just not doable. I think a player would find himself doing more recording and less observation, whether it be observing style of play or physical tells. I rarely find the games I play to be very challenging but there are usually a few moments during a game where I'll ask a better player if he would have done the same. Again, it's difficult for him to make a conclusion not having all the data. I certainly wouldn't ever pay for coaching when there's so much free useful information regarding optimal play. Certain players have different strengths and for a winning, successful player to drastically change things is risky but conferring with great players doesn't hurt. If I was a losing player who loved the game, played often and struggled, it might be worth investing in a few lessons. But, like horse touts, you have to ask yourself why they're teaching for 75$/80$ an hour when if they really knew what they were doing wouldn't expose their secrets and could probably make more playing. I think the exception would be if you're being staked. In poker there's a ton of ppl staking other winning players for a portion of possible winnings. In this instance I would definitely encourage learning all you can from your staker as they genuinely will want to help you out as they're helping themselves in the process. Overall though would advise against staking, handing a poker player cash and expecting to get it back plus extra is foolish.. Again, the staker has to ask himself: why does this winning poker player need money? Chances are, he's probably either not that good or has seperate addictions that are more important than poker. That's also what was great about online cards, you had ppl's results and knew who was worthy of investment, although, when you transfer $ to someone even if its for poker arrangement there is no guarantee anywhere that the person has to pay you. Sorry if I ventured off track a bit
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