The psychology of the professional gambler
In this article, we will analyze a mental attitude that distinguishes professional gamblers. This characteristic can be summarized with the following concept: “dissociation from the result”. This type of mental predisposition is very important because the way we relate to the result affects our ability to behave rationally.
The basic feature of the human mind
To understand how the mind behaves in relation to the result of the actions, we must understand the environment in which it evolved. Man has evolved in a context in which the link between action and result has always been very strong.
The non-randomness of the result has an important consequence: if the action leads to a benefit, the action that generated it turns out to be correct.
Therefore, a very strong connection is created between the action and the result. Consequently, to a useful result for our survival, we are led to consider the action performed as rational and correct. The brain also strengthens this bond in a physiological way by producing a physical sensation of happiness. In practice, the brain rewards us for the action done and wants it to be repeated over time because considered useful for our survival.
How the mind is deceived
Now we analyze how a mind, evolved under the circumstances described in the previous paragraph, behaves when it has to face situations in which the outcome of the result is subject to a significant random component.
In these situations, an extremely important thing happens: the result of our action will never be constant but will have a certain degree of randomness. In this situation, the link between action and result is broken, and it is no longer true that a useful result corresponds to rational action.
Situations in which there is no link between the rationality of the action and the result are situations almost exclusively created by man as in the case of gambling. For example, if we play heads or tails, we have 50% of probability to win and 50% to lose, and obviously, there is no rational link between action and result. However, for the brain it makes no difference, if you win a bet it will reward you with a feeling of happiness and this is because for our mind the link between result and action still exists. For this reason, the psychological pathology called ludopathy, which afflicts gamblers, is the direct consequence of an evolved mind in an environment where there is a very strong link between action and result.
In this situation, the mind is deceived and considers actions that are irrational and destructive as rational and useful. This behavior is also called cognitive distortion, and the people who are affected are really convinced that their irrational actions can lead them to victory.
At this point, you will surely have understood that the main problem is due to the direct link that the mind associates between action and result. Therefore, it is precisely on this key element that arises the difference in approach between an ordinary person and a professional gambler.
People who understand this problem understand the importance of training their mind about the dissociation from the result. In this way, they develop a new awareness about the result, which allows them to maintain a rational and winning response even in situations where the result is subject to a random component.
The mind of a professional gambler
In the previous chapter, the cognitive characteristic that distinguishes an ordinary person from a professional gambler was identified. This characteristic can be summarized with the following concept: “dissociation from the result”. In other words, it is about breaking the link that our brain creates between action and result.
This mental approach is present among professionals from very different sectors; for example, it is normal for a professional poker player to get angry when he makes a stupid play and to be happy when he makes an intelligent play, regardless of the outcome of the individual plays. In fact, these players have perfectly understood that there is no direct link between the result of a single operation and the action performed. What makes them successful is always being able to perform a series of rational and correct actions without getting involved in emotions. About this argument, I also report an interesting statement by the professional trader Linda Raschke whose interview was featured in the 06–2017 issue of Trader Magazine. When asked, “Is Trading a game for you?” Linda Raschke replies “Yes. I barely check the account balance. Because this unnecessarily affects me both positively and negatively and does not change the fact that I have to make the right decision again. And if you always make the right decisions, performance becomes simple in the long run”. As you can see, there is such a strong dissociation from the single result that she does not even care about its balance (an amateur trader checks his balance every 5 seconds).
Viewed from this point of view, gambling is no longer random, but is a purely cognitive process, where you only operate if you understand the game by always performing rational and never emotional actions. At this point, becomes easy to understand the difference between an amateur gambler and a professional gambler: the first is obsessed by the result, while the second is obsessed by the knowledge.
