The Risk Takers Podcast What Sports Bettors Can Learn From Casino APs w/ Richard Munchkin | Ep 129
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Nov 12, 2025 Richard Munchkin, a veteran advantage player with over 50 years of casino experience, shares thrilling tales from his gambling career. He discusses the lost art of embracing risk and reveals hilarious stories about disguises used in the casino world. Richard dives into his global adventures as an advantage player, contrasting safe and risky markets. He emphasizes the importance of discreetly extracting winnings and explains his transition into sports betting, highlighting the need for thorough scouting. His storytelling is captivating, making every moment a gem!
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From Dealer To Backed Pro
- Richard Munchkin started as a blackjack dealer to practice counting cards and turned pro after joining Alan Woods' bankroll backing him with $20,000.
- He initially lost heavily for 167 hours, quit, then rejoined after friends convinced him and began winning enough to leave dealing behind.
Bigger Edges Beat Tiny Percent Plays
- Richard prefers bigger edges and dislikes taking many small-edge, high-frequency swings like 1–2% sports bets.
- Once you get used to large casino edges, small sports betting edges lose appeal and feel like unacceptable volatility.
Disguises: Theatre More Than Magic
- Munchkin and partners used elaborate disguises, from wigs and skin tint to full latex makeup, to avoid recognition when playing big amounts.
- Sometimes disguises worked hilariously well and sometimes staff noticed immediately, showing disguises are often more theatre than necessity.
