What Should Gamblers Learn from the Stu Ungar Story
Posted by Harry Kane on Tuesday, July 5, 2022
When it comes to most films that feature gambling or casino gameplay, there’s a tendency to romanticise and glamourise such practices to a disproportionate degree. Of course, there’s the unique opportunity to win life-changing amounts of money when gambling, while history is full of professional poker players who have forged a lucrative career out of cards.
High-stakes gambling is also associated with huge winnings and lavish lifestyles, which is a fair observation for a select few lucky players. However, the path to gambling riches is also strewn with players who have lost everything in the pursuit of success, while even history’s best gamblers have endured seismic losses during their careers.
Some infamous gamblers have also struggled with numerous personal demons, with the legendary Stu Ungar offering a relevant case in point. But who exactly is Stu Ungar, and what are the key lessons that gamblers should take from his incredible story?
Who is Stu Ungar?
Stu Ungar was born in Manhattan, New York on September 8th, 1953, to Isidore and Faye Ungar. His father Isidore was a loan shark and bookmaker, who was known to run a bar called ‘Foxes Corner’ that also doubled as a gambling establishment.
Despite his father’s best efforts to keep Stu away from gambling activity and those who regularly frequented his establishment, the youthful Ungar was exposed to multiple forms of gaming from the tender age of 10. He soon began playing gin rummy and quickly developed an obvious affinity for the game, gradually eschewing school and education for underground cards.
Interestingly, Ungar had showcased genuine aptitude and intelligence during his formative years at school, even skipping seventh grade. However, he leveraged his obvious smarts and quick wits to become a superior and gifted card player, ultimately dropping out of school in the tenth grade to play full-time.
Over time, Ungar built a reputation as a talented player, but the tragic death of his father in 1967 left his family with source of sustainable income. As a result, Ungar redoubled his efforts to become a professional card and poker player, while simultaneously adopting an aggressive style of play to help afford him a competitive edge.
This saw him achieve notable success in casinos and poker rooms throughout the US, particularly in New York. Ungar certainly became established as a feared winner and serial
winner on the NY circuit, as he began to compete for incrementally bigger prizes and entered large-scale international tournaments.
In the subsequent years, Ungar earned the distinction of winning three World Series of Poker (WSOP) main event titles, two of which were won consecutively in 1980 and 1981. He also won three Amarillo Slim’s Super Bowl of Poker trophies between 1984 and 1991, becoming the most successful player in the tournament’s 12-year duration.
But what did this sustained success mean financially? Well, Ungar’s three WSOP wins alone earn an impressive $1.74 million alone, while his additional tournament successes saw him amass career earnings well in excess of $2 million. This achievement was indicative of Ungar’s rare ability, and considerable ability to bluff even experienced opponents.
Of course, Ungar was one of the more complex poker greats, with his slick skills and aggressive style accompanied by a difficult personality and renowned lack of respect for his fellow players and the prevailing table rules. This lack of etiquette was a huge no-no in underground poker and gambling rooms at the time, and it caused Ungar no end of issues with rival players.
Interestingly, Ungar required almost constant protection when attending tournaments later in his career (especially in New York), with his long-time mentor and friend Victor Romano providing this and support throughout the player’s extended career.
Of course, Ungar’s communication and behavioral issues were also symptoms of a troubled and addictive personality, with the pressure of high-stakes gambling and poor money management issues taking a significant toll on the player. To this end, he eventually developed a drug addiction, with this ultimately contributing to his premature death at the age of just 45.
Ungar was found dead in a motel room after a tournament, with the coroner reporting that he suffered significant heart complications as a direct result of his drug abuse. This brought to an end an intriguing and troubled life that was packed full of highs and lows, while the tragedy of Ungar’s passing inspired copywriter A.W. Vidmer to write a biography of his life.
The Stu Unger Story – How Was it Portrayed on the Silver Screen?
‘High Roller: The Stu Ungar Story’ debuted nearly 20 years ago exactly, and it remains one of the most engaging and poignant stories of its type ever told. Of course, there was some criticism about the precise portrayal of Ungar’s character, as while the role was expertly played by Sopranos’ star Michael Imperioli, it didn’t fully capture his incredible complexity or nuance.
It also featured a mysterious, unknown guest in Ungar’s motel room immediately before his death, hinting at the possibility of foul play. However, this has been ruled out by the coroner’s findings, so it’s unclear why Vidmer would want to introduce this particular plot twist.
However, the film did a uniquely tremendous job of leveraging Ungar’s character as a vehicle through which to explore the dark underbelly of professional gambling, which is often characterised by addiction, human vulnerability and life-changing losses that turn players’ lives upside down.
Even more importantly, it reinforced the notion that issues of addiction and loss can also affect successful players, regardless of how many WSOP titles they’ve won or the money they’ve earned during their careers. This is certainly true in the case of Ungar, for whom gambling became a way of life and keeping his own personal demons at bay!
So, what are the Lessons That Gamblers Should Heed?
While the film may use creative license to deviate slightly from Stu Ungar’s story, it provides a largely accurate and brutally honest take on the darker side of professional gambling. But what are the key lessons that gamblers can learn from the Stu Ungar story? Here are a few to keep in mind!
The Importance of Strategy and a Defined Style
Unlike most casino disciplines, poker is a definitive game of chance, and one in which players are able to use bankroll management, numerical ability and psychology to get the better of their opponents. This is why the game is so popular among professional gamblers, who can deploy their skills to achieve a competitive advantage.
However, the poker world is packed full of skilled and talented players, many of whom will never win a major cash tournament never mind earn a WSOP bracelet. But what exactly sets players like Ungar apart and helps to achieve such incredible heights in the game?
One of the key considerations is to create a clearly defined playing style and strategy, which informs your in-game decision-making and dictates how you play specific hands and tournaments. In the case of Ungar, for example, he utilised a relentless and aggressive playing style, while deploying the art of bluffing to beat players with better hands.
This certainly lends itself to more frequent poker wins over time, as it makes it possible to win rounds and pots even with less-than-ideal hands. Similarly, it affords you a sense of control over your destiny and the overall gameplay, rather than simply leaving you to the mercy of the cards and machinations of your rivals.
The question that remains, of course, is whether it’s possible to deploy such strategies and psychological skills like bluffing when playing online in 2023? After all, there’s far less opportunity to read physical tells when you’re not playing in person, with these triggers enabling you to know when to bluff or persist with a poor hand.
The good news is that it is possible to access extensive player data online, which may offer an insight into how different individuals will react in relation to their hands and how they deal with risk. This makes it possible to identify trends in your opponents’ behaviour and use your own hand to its fullest potential.
Of course, there are different poker strategies depending on your preferred game iteration and appetite for risk. So, the key is to develop a strategy and playing style that’s clearly defined and suitable for you, while using player data and insights to make the most of tactics like bluffing.
Beware the Portrayed Romance of Gambling
As we’ve already touched on, the concept of land-based gaming is heavily romanticised in film and media, making professional wagering an appealing pastime among younger players. At the same time, gambling verticals are now more accessible than ever before online, increasing the potential for addictive and problematic behaviour over time.
This is a potentially potent combination, and it’s therefore important to remain guarded against the portrayed romance of gambling and the promise of life-changing winnings. It’s also important to
avoid viewing gambling in an entirely negative light, as at its best, it can be a fun and immersive pastime for players.
Instead, you need to retain a balanced outlook when gambling online, recognising both its benefits and potential pitfalls over time. You should also have a healthy understanding of why you choose to wager your hard-earned cash, with most people categorised as casual gamblers who bet solely for fun and enjoyment.
Such considerations also lend themselves to responsible gambling practices and efficient bankroll management, which rely on your ability to only ever wager an amount you can comfortably afford to lose within a predetermined timeframe. You must then stick to this in a disciplined manner; while tailoring each stake amount to recognise risk and optimise potential returns.
If you do engage with films about gambling or infamous gamblers, remember to take each narrative and characterisation with a pinch of salt. After all, even relatively realistic and gritty productions like ‘High Roller: The Stu Ungar Story’ tend to feature a degree of creative license, which may cause you to see betting and games like poker in a less authentic light.
Loss is a Central Component of Gambling
If there’s one standout takeaway from the Stu Ungar story, it’s that loss comes to us all, whether you’re a casual gambler with a minimal bankroll or a professional bettor. Make no mistake; loss is a central component to all types of gambling, and learning how to cope and factor this into your strategy is critical to your success.
Remember, Stu ‘The Kid’ Ungar amassed a fortune of more than $2 million by succeeding at high-stake poker tournaments such as the WSOP, but he managed to lose this all over the course of his career. He subsequently had to borrow tournament buy-ins and entry fees, despite his immense ability and overall winning record.
Of course, some of this can be attributed to Ungar’s erratic persona and vulnerability to drugs and compulsive gambling (neither of which lend themselves to efficient money management). However, even the most organised and stable of professional gamblers will endure peaks and troughs and lose money during their careers, affecting their bankroll and ability to compete in the process.
The key to dealing with this lies in recognising the omnipresent threat of loss, which stalks every bet you place and every hand you’re drawn. This needs to be embraced and factored into every wager that you place, especially in terms of calculating how much you’ll need to wager when competing in specific games or tournaments.
It can be hard to calculate a desirable return-to-player (RTP) rate when playing online poker, with this often measured in terms of how many big blinds you win for every 100 poker hands that you play (bb/100). When playing small-stakes games, a win rate of anywhere between 3bb/100 and 30bb/100 is considered adequate, bearing in mind that you’ll lose more than you win over time.
Bankroll management is also key here, of course, as you look to focus on game selection and tilt control to make your money go as far as possible. Then you can focus on securing a manageable rate of return, which reflects the chance elements of poker (and all forms of gambling) and the prevalence of loss.