Expertise vs Luck in gambling

Expertise vs Luck in gambling

Gambling has been an age old occupation in human civilization. And ever since man has taken to gambling seriously, the question that has plagued his mind is what determines win or loss in a gambling game – expertise or luck. While the most traditional player would attribute his results to mere chance and dumb luck, a more curious gambler would try to analyze the pattern of the outcome of the games and devise some theory or tactics that would enable him to use the experience in future. However, it has to be remembered that since gambling is basically a game of chance not even the most skilled gambler can predict the winning result. What he can do instead is try to apply a mathematical idea to the system of placing bets and winning and losing and come up with a strategy that would counter the probability factor to some extent.

A case in point can be a game of blackjack. While a rookie player would say to win this gambling game, he must have some luck, a player with some expertise would immediately calculate that it is possible to outwit chance and play for assured winnings. In fact, nowadays card counting is accepted and acknowledged as an integral part in professional blackjack playing so much so that some casinos informally disallow players from indulging in this practice as undoubtedly this strategy in the hands of expert gamblers reduce house advantage and allows the players to go away with huge winnings.

However, when one thinks over it is no surprise to come up with the answer that gambling involves a bit of both and instead of it being an expertise versus luck scenario, only a combination of some expertise and some luck can enable a gambler to return as a winner.

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