Lay the Favorite: A Memoir of Gambling Review

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(More customer reviews)-450 Gamblers
+350 Author
I enjoy books on players of all sorts---criminals, athletes, entrepreneurs, traders, gamblers and noir types in general. They detail the underbelly of our society (often posing as the glamorous top layer) without the reader having to lose all his money, go to jail, or get his legs broken by Angelo. What distinguishes Lay The Favorite is that it's a true story of someone who observes and then slowly becomes corrupted by that world...and doesn't even realize it.
The book ends {mild spoiler here, but not really} with Beth jetting off to Rio on money she's stolen from a "sicko" bettor who had just tried to steal money from her. Her quick moral bookkeeping, apparently done in separate ledgers, seems to escape her irony filter entirely, and in the end she is absorbed seamlessly by the seaminess. It's the perfect ending, for all the wrong reasons.
The best things about LTF are the true tales of the professional sports bettors. Raymer recounts their stories well, and if you like interesting characters, here they are. Dinky is the "hero", for beating the odds as a wildly successful bettor for decades (a million to one shot), while Bernard has the much easier job of fleecing the suckers as a bookie. They both consider themselves losers despite millions stashed away in various shoeboxes (for a while), and their stories are full of fascinating, funny moments, including odd tales of barely legal offshore sports books in Curacao and Costa Rica. These guys might be nutty as squirrels in some ways but they're also very bright, and lots of fun to read about. I'm not sure they and their families will be too thrilled about how they all come off here, but apparently they gave their ok for this. Perhaps not the best wager of their careers.
The worst thing about LTR is having to sit through the author's tales of her personal life, which makes the gamblers by contrast seem balanced and so much more interesting. Raymer casually mentions that when she gets tired of a guy she just stops answering his calls and hopes he goes away; in some ways the gamblers come off as nicer folks. After a while, despite her constant mention of how charmed everyone is by her and how winsome she is, one reaches the sections about her inner turmoils and groans in dismay; this advance copy of LTR hit the floor more than once. How long until we hear about the players again?
Because, all told, it's they who make this book worth reading, and the parts about Beth could be lifted from any memoir of a confused, drifting cocktail waitress who treats men like kleenex and then wonders why she can't gain any traction in life. After working as a stripper and doing online porn, she lucks into working for guys who toss bricks of money around like toothpicks but rarely seems to grasp what a longshot she's hit; one wonders exactly which details we don't get here. Oddly enough, the one part of her life that really is fascinating, her quick rise from neophyte pugilist to fighting in an amateur boxing championship in Madison Square Garden, is given short shrift. If she'd spent the time detailing that unique journey that she spends on meandering, banal tales of her love life, this could have been a really fine tome.
Instead, it feels like there are two books here, one very interesting one about the world of professional sports bettors, and one not very interesting one about an immature young woman's coming of age. Which never really happens, unless becoming the kind of dishonest person she's spent the book chastising counts. Time and again she wonders how everyone can rip everyone else off and why no one cares, and then ends the book by doing it herself and toasting the wisdom of her choice with champagne in first class.
All in all, LTF is well worth reading if you like breezy tales of unique, real-life Runyonesque sharps who beat the gambling world until it beats them (the inherent moral here, however backwardly presented). Or if you like reading about a spacy girl's suddenly shifting crushes on whomever. I'm not sure those two markets overlap, but if they do, this book is a new genre unto itself, a weird literary parlay in which the reader often gets middled.
Apparently this was optioned by Stephen Frears for a movie coming out next year called Lay the Favorite, Take The Dog, and that's great news, as the movie has the choice we readers don't have: excise the boring stuff about the author and focus on the crux of the biscuit--the fascinating guys who for a while get the best of a game that's almost unbeatable. Here's hoping Frears takes the over and lays off the road dog.

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Caro's Book of Poker Tells Review

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(More customer reviews)A classic, and one of the most well known books on poker, it's been published again and again under different publishers with very slight changes over the years.
It's one of the only books on tells, or body language in poker - a bit surprising, considering the hundreds of poker books in print, and the popular conception that tells are a huge part of the game.
Caro, also known as "the Mad Genius of Poker," is a top-level poker player, credited as the best draw player in the world. Or was, at least - draw poker all but died out when other forms became legal in California, and he hasn't been heard from as much since then. Regardless, he's still extremely smart, a great teacher, and is always entertaining reading.
The book covers around fifty different "tells," of various types. Some are general profiling, such as what you can infer about an unfamiliar opponent's style by the way they dress or stack their chips. Most are behavioral - what it means when someone acts immediately, without pausing to think, when someone glances down at their chips after the flop, when they "splash" chips into the pot instead of stacking them, etc. A common theme is that "strong means weak" and "weak means strong" - when they sigh and shrug their shoulders as they raise, get out. It seems so basic, but often holds true even at relatively high levels. There are logical tells too, like when a conservative player bets without looking at his last card in stud, he already has a made hand.
One tell I've found very useful is when a player's hand starts to shake uncontrollably as he or she bets on the last round. Most people's initial thought would be that they're nervous and bluffing. In reality, it usually means they have a nearly unbeatable hand. The shaking is a release of tension; a natural, involuntary response as the nervous uncertainty of the hand's outcome is resolved. The shaking is most likely to occur when the stakes are very meaningful to the player. Sometimes this one is visible even on the WPT or WSOP coverage on TV. Even those who play for thousands every day can't control their reactions when they're suddenly playing for millions.
On the downside, the book's age shows. The pictures are grainy and black-and-white, and highlight fashion trends of the 1980s. Several of the tells are specific to draw poker, like determining whether a player who draws one has two pair or a four-flush; not very useful anymore, but still interesting.
For each tell, the text estimates how many weak, average, and strong players will exhibit the specific behavior, and gives a value for how much you can gain by understanding it and being observant. These are useful as generalizations, such as which will rarely apply in a higher limit game against more experienced players, but the "value per hour" figures are crazy. At the $100 limit, various tells are supposedly worth $11/hour, $96, $43, $128, etc. If that were true, a break-even player who studied this book would suddenly be making thousands per hour.
Reading people's body language isn't nearly that big a part of poker. Most decisions at the table are fairly clear based on the cards and logic. Only in borderline situations do tells become valuable, and even then, you have to be pretty sure your read is accurate; if you fold the best hand on the end based on a read you thought was accurate, when you would have called otherwise, you've just cost yourself the whole pot.
Lots of people have bought this book, or similar material, with the idea of studying it and suddenly making a killing, with no more than a basic understanding of poker. This is misguided, and probably not possible. Technical skill and a solid understanding of poker theory and game situations are far more important. Reading people is a useful and interesting supplement to that, not a replacement for playing well.
That said, I'd recommend this book to anyone. Even casual, kitchen table players will find it readable, interesting, and useful - maybe more so than more experienced players since their opponents will have a lot of obvious tells to be read.

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One of the ten greatest books written on poker, this must-have book should be in every player's library. If you're serious about winning, you'll realize that most of the profit comes from being able to read your opponents. Caro reveals the secrets of interpreting tells - physical reactions that reveal information about a player's cards - such as shrugs, sighs, shaky hands, eye contact, and many more. Learn when opponents are bluffing, when they aren't and why - based solely on their mannerisms. Over 170 photos of players in action and play-by-play examples show the actual tells. These powerful ideas will give you the decisive edge. 320 pages

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