Quote:
Originally Posted by lansdale
Usually I agree with most of what you post about gambling, but so many falso assumptions in this post, had to reply. First, most people I know making serious money from gambling do everything possible to stay below the radar, for, I think obvious reasons. If you're talking only about these guys who have achieved public recognition, that was only after many years of huge profits and they did everything possible to avoid the limelight. First and foremost, they don't want to get cut off from betting, but, at that level, they don't want to attract mob interest. Anyone who's seen the Aaron Sorkin film 'Molly's Game' knows what I mean.
As far as teaching what they do, it should be clear that it's all about the math. There's no mystery about the tools they're using. And contrary to your claim, many of them teach. Benter has lectured on his methods and universities worldwide -- one of them is posted in this thread -- and he has coached PdD candidates at Cambridge and elsewhere. Ed Thorp has written books and lectured on his work in blackjack and the hedge fund world. Ken Uston was teaching throughout his life. But, in the case of the horseracing models, at least a background of college-level math is required to even get in the game.
And even for these guys who became successful, it was far from a walk in the park. If you listened to the Ziemba podcast, he discusses how difficult it is to succeed now, especially given the increased competition, and says it would require an investment of ca. $1,000,000 and a year of research just to get an operation off the ground -- almost exactly what Benter described to me in the early aughts, when he was helping to set up teams in the U.S., but only as a consultant.
So, it's possible that some members of the general public can benefit from learning from these gamblers, but only a very small number.
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Gee, Lansdale...by now I thought for sure that you'd be able to tell when I am kidding. I even enclosed a smiley face, to show my true intentions with that post. Wasn't it I who narrated with approval a situation that happened to me when I met the renowned David Sklansky in a Las Vegas sportsbook several years ago...and he told me that he felt an obligation to share what he knows about poker because he wanted to keep the game growing? OF COURSE there are winning gamblers who share what they know. For heaven's sake, the name "thaskalos" that I have chosen for my participation here is the Greek word for "teacher". I have more than 20,000 posts here...and a healthy percentage of them have been of the "teaching" variety. Do you suppose that I consider myself to be one of those who "can't do"?
You say that you "usually agree with most" of what I say here about gambling. Would you mind sharing with me what else about gambling you find yourself in disagreement with me on? Just because I have supported myself and my family solely by my gambling winnings over the last 14 years doesn't mean that I am not willing to learn from the likes who hang around with the Bill Benters of our sport.
