One of the first things we get asked a lot is "is card counting gambling?" In order to answer this question we have to really distinguish between the difference between gambling and investing. This is really important for you to know, because if you can't tell the difference between what just flat out gambling is and how card counting is more like investing then chances are you are just going to fall into the category of a gambler. Now it's important to understand that blackjack is much more an investment than a gamble.
One of the key things that makes it that way is investments require calculated risk with a warranted mathematical expectation of return. Whereas most gambling just involves throwing your money at a place and hoping that some of it comes back. The other things is investors really base all of their decisions on statistics and probabilities. Whereas most gamblers really have very little understanding of the math behind it and they're basing their decisions mostly on unwarranted hopes. The second thing we are going to look at is how gamblers and investors see the game differently on when you should leave. "When should you leave?" A gambler usually says something like "Oh I'm on a hot streak so I should stay." Or "I just lost so I should leave." or "I just won so I should leave." There's a lot of faults in these types are arguments and the main mindset is that they look at the past to determine what the future holds. An investor understands that in the same where you flip a coin and it lands on tails, it doesn't make sense to say the next time you flip a coin you should bet on heads because it's more likely to land on heads. So in the same way when you go into a casino you take a look at the games and whether you win or lose $100 or $100,000 in the last half hour, that has no mathematical bearing on the future hour of whether you will win or lose money.
So there's many differences and the ability for you to understand the difference between a gambler mindset and an investor mindset is really going to ultimately determine whether or not you are able to play blackjack successfully. We're going to look at the final way- the main difference between an investor or a gambler and this is in how you tell if you are a winning player. Now, a typical gambler will determine whether they're a winning player based upon the simple fact that they win or have won. As investors we have a much bigger picture in mind and that is not just do we have a winning session or do we win a hand but are we going to take money from the casinos to keep in our pockets in the big picture for the long run.These topics are really important for you to understand as you take a look into professional blackjack.