Beginning poker players can take a very important lesson from a hand I witnessed recently. I attended a charity event at my alma mater a few days ago. The purpose was to raise money for the alumni club. I had tons of fun visiting with some old friends. The event included food and drink, and there was a Monte Carlo gambling area set up to bring in some extra bucks.

I did not go there to gamble heavily, as the games there very definitely have a negative expected value. The blackjack rules are rigged to favor the house (even more than Las Vegas rules), and the other games are even worse. All that said, I always plan on playing a few hands of blackjack, more for socializing with the other players and dealers (many of whom I would expect to know).

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