Episode 126: The Sunk cost Fallacy (UPDATED version with audio issues fixed)
In this installment of our attempt at imaginary radio, something that we like to call The Tens and Aces Podcast, host Mike AP sits down with returning guest Chris and his playing partner “Bad Steve” for one of the most candid, technical, and brutally honest AP conversations ever recorded on Tens & Aces.
Steve walks through his origin story — from growing up with nothing, to learning basic strategy in college, to joining early teams that paid him certainty‑equivalent hourly rates while he played underage. He explains how he built a bankroll, got backed off everywhere, attended a blackjack science seminar, learned EV and risk‑of‑ruin math from a legendary AP mentor, and eventually moved into advanced plays like hole‑carding, next‑card knowledge, and exploiting dealer procedures.
The three dig into the psychology of casinos, why APs are a rounding error yet still hunted, and how ego, pride, and incompetence shape surveillance decisions. They share stories of disguises, misdirection, obscure deviations, misdeal opportunities, shuffle‑tracking, and the soft‑skills that separate elite APs from basic counters.
Networking, trust, and the emotional toll of variance take center stage as Steve describes losing huge sums while still having a massive edge — and why most new APs underestimate the psychological cost. The crew breaks down bankroll swings, team dynamics, bad intel, and the importance of character when trusting someone with tens of thousands in chips.
This episode closes with reflections on how AP thinking transfers to business, why some brilliant people choose crime over legitimate opportunity, and a reminder that more of this marathon interview is coming soon.
In Part 1 of this multi‑episode interview, Mike AP sits down with professional advantage players Chris and “Bad Steve” to explore the real world of blackjack AP — from card counting and hole‑carding to shuffle‑tracking, misdeal exploitation, and advanced casino‑beating techniques.
Topics include:
• Steve’s AP origin story and early team play
• Building a bankroll and surviving backoffs
• Hole‑carding, next‑card knowledge, and obscure deviations
• Casino psychology, surveillance mistakes, and ego‑driven decisions
• Networking, trust, and the dark side of AP misinformation
• Bankroll swings, variance, and the emotional cost of professional play
• How AP skills translate to business and real‑world opportunity
If you’re serious about blackjack, AP networking, or understanding the mindset behind long‑term advantage play, this episode is essential listening — and just the beginning of a much deeper conversation. Now, are you ready for some T&A?
Contact information for Networking
Chris & Steve: [email protected]
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