How Blackjack Could Help Improve Other Skills
While blackjack is in some respects a game of chance, it also requires a significant amount of skill if players are to achieve long-term success. This can be broken down into several core elements, specifically an advanced numerical ability, excellent judgement and an innate understanding of risk and reward. While these skills are required to achieve success, however, the process also works in reverse so that the same attributes can be developed over time and with hours of prolonged practice.
What Skills can Blackjack help to Develop over Time
Former player Bill Gross provides a clear example of how blackjack can help to develop core skills, as this trailblazing professional used the wealth and lessons that he acquired through blackjack to develop a multi-billion dollar investment business. One of the first skills that he transferred between the worlds of gambling and business was the ability to assess risk, both accurately and in real-time.
Alongside his financial education, this gave him a platform from which he could evaluate risk and reward in real-time and exercise reliable judgement.Investment is also a numbers game, as you take calculated risks in line with a specific reward. This can also be applied to blackjack, as successful players must be able to quickly estimate the odds that they are facing, determine the probability of success and ultimately establish a likely pay-out. This process must also be loosely adhered to when investing, and even more stringently when handling clients’ capital.
The carefully honed ability to strategically process numbers and analyse investment opportunities quickly is absolutely crucial, and while it was honed at blackjack tables around the world it has helped Gross to acquire investments worth in excess of $1.97 trillion.
The Last Word
While we have discussed the appreciation of risk and reward and core numerical ability, there is one other attribute that blackjack can help to hone. This is ability to make swift and productive decisions, without being undermined by periods of doubt and procrastination. These feelings are potentially devastating to the chances of achieving success as a blackjack player, as there is only a brief amount of time to place wagers and apply your strategy while the hand is being dealt. While investment managers have more time to plan and execute their decisions, the ability to act decisively while under immense pressure does absolutely no harm at all.