Losing Streaks

13 August 2024

By Frank Scoblete

I’ve been playing casino games for a long, long time. Let me repeat; a long, long time.

I’ve faced it all. Great winning streaks; good dealers, bad dealers, casinos that were filthy (usually out of the way places); famous people playing right next to me, good players, bad players, and everything in between.

And more.

But what I have never gotten used to are losing streaks. Most casino players probably feel the same way about a losing streak. I know they occur and that they are par for the course of casino play. Play enough and you’ll wind up in one…or two…or three or more epic losing streaks.

You can’t escape it unless you play one decision and win or lose go home. Most casino players can’t do that.

Early on in my gambling career (oh about 40 or so years ago) a long losing streak would rattle me. I play perfectly (no kidding) but sometimes the results are the opposite results than I intended.

Perfect basic strategy at blackjack? Of course. Always. One time every double down I made I lost. Every split? I lost. My blackjacks tied the dealer. I rarely won a hand. What did I do way, way back then? I panicked.

I was new to the game and didn’t think I could lose like I was losing. Maybe increase my bet?

So, I increased my bet.

It didn’t help. I just kept losing. Finally, when I had little money left, I called it quits.

Roulette did me in on my second visit to a casino. I played a Martingale. You know what that is, right? After every loss you double your bet. You figure you have to win one of seven or eight decisions. I won for a day or so playing black or red. That means I won like $10 per decision. My technique was a true Martingale. Boy was I great!

And then it happened. BOOM! I kept losing. Finally, I made my last bet on the Martingale. I had to win this bet or I would lose an amazing amount of money and I couldn’t raise my bet anymore.

I lost. I lost everything. I was stunned. The Martingale seemed flawless. Wasn’t it flawless? I guessed not. It was a tough lesson to learn. Many gamblers have learned this lesson.

I lost in a few other games too but I did learn one thing. Quit while you’re behind. Not right away with this advice but if you are getting your head handed to you what’s the point of continuing play?

There’s always tomorrow. Or the day after that. And keep your betting reasonable for your total bankroll. Early on I tended to bet somewhat higher which meant I could get wrecked more quickly. And, yes, on occasions I got wrecked.

It took me some time to handle my money properly and I’ve never gone on much of a bad tear ever again.

All the best in and out of the casinos.

Frank Scoblete’s books are available from Amazon.com. Barnes and Noble, Kindle, e-books, libraries, and bookstores.