I am a semi-professional black jack card counter. I have totally played 225 hours and averaged $66/hour net (this is all spending taken out from the profit). I started with $2000 a year ago. My maximum wining is $15K in one 3 hour session. My longest losing strike is $20K within 30 playing hours. I have been kicked out, transpassed, yelled at, never backroomed. Personally, I have learned a lot in life from this gambling experience.
So here is the real question. I have been following the GME/AMC short squeeze story and got in myself. Just curious about what do we, card counting community, think about the situation.
Here is my take:
I saw people giving up a table with super rich shoe and go spinning stupid Rolette. They would win a $5 spin and be yowling out loud, but they never realize they just left a table where they actually had advantages. I think same thing is happing with all the short squeeze right now. Only because casino (Hedge Funds) is more patient (willing to wait) and composed (manipulating everything in every possible way) and intimidating (tricking down the price), people tend to forget casino (Hedge Funds) only have a very little edge (six deck blackjack 0.53%), and there are limited things they can do (can’t really do anything but kick us out or “transpass” us), and they can’t control everything (variance). Their billion dollar investment account is very vulnerable, comparing to me losing a couple of hundred dollar over a few hands. Seriously, if I have a losing session and lost $9K in an afternoon (hope to god I don’t have that very often), I don’t even think about it anymore. I just get more cash and go back in the second day.
Anyway, I went on wallstreetbets and see people whining about things didn’t turn out their way and blaming everybody else “paper hands”, I thought all them should learn Backjack card counting and go to casino a couple times. If they have experienced both winning and losing from a high count shoe when playing perfectly, they would know all we can do is to put the chips on the table and follow our strategy. Everything else is just variance (luck).
I always heard card counter OG say 99% of beginner couldn’t make it profitable. I think this apply to everything.
I am retard and this is not financial advice.