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When you gamble make smart bets.

It never hurts to research every aspect of your gambling style, especially the way you place your bets. There are almost always options you're unaware of and you may find a better way to bet by studying methods used by the pros.

You can find people willing to give advice quite easily but sage advice is hard to come by. If you wanted to invest in real estate, and had the opportunity to talk to Donald Trump, you'd jump at the chance because he made a fortune in real estate.

So why tune into someone who manages hedge funds on Wall Street when all you want to do is place a bet at the dice table? Because investing is a gamble, and a someone who gambles everyday, for a living, on stocks and bonds, and makes a 26% profit, knows something about managing money and taking risks, which is what betting is all about.

It happens that David Einhorn is not only a successful hedge fund manager, he's a sharp Poker player as well, and after Emil Lee observed his play he realized what it takes to place smart bets and wrote about it.

The advice given by Lee can be was developed for use at the Poker table but it can also be used for betting on other games.

This article in "The Motley Fool" explains how you can make smart bets at any table game.