Ray Zee talks about bankroll management in poker.
Archie ran nothing into $30,000,000 ($30 mil) shooting pool, playing poker, and shooting craps. Most came from a lucky streak at the crap table.
Archie is a good hustler and the fastest-gambler when things are going well. Unfortunately for Archie, he is also the fastest when things aren’t going well. From being the person who won the most in history at craps, you would think that he would be wealthy all his life. But no, Archie lost it all back just as fast as he won it.
Only a very few of the World Series of Poker main-event winners did not go broke within a fairly short time of becoming the world champion.
Many high-rolling gamblers would never get to be millionaires in a year if they didn’t experience the risky roller-coaster ride of the thrill of victory and the agony of defeat on a regular-basis.. Ironically; the vast-majority of these fast-trackers end up losing it all and going broke (sometimes in multiple-instances); and a very few become prudent businessmen who hold on to their wealth.
What can one do to be successful? The answer is not gamble. No, I don’t mean don’t play. I mean do not gamble enough to cause you to lose so much it becomes unrecoverable in a short time frame You have your whole life to get rich and it will come, but not quickly.