--- title: "Meaning & Key Takeaway of: You've got to take some chances and know…" description: "\"You've got to take some chances and know when you're beat and know how to get certain advantages.\" — Phil Ivey" image: "https://sms4smile.com/quotes/i/faa/phil-ivey-55624_advantage_you-ve-got-to-take-some-chances-and-know_426157.png" --- # You've got to take some chances and know when you're beat… ![“You've got to take some chances and know when you're beat and know how to get certain advantages.” quote by Phil Ivey](https://sms4smile.com/quotes/i/faa/phil-ivey-55624_advantage_you-ve-got-to-take-some-chances-and-know_426157.png) [Download](https://sms4smile.com/quotes/i/faa/phil-ivey-55624_advantage_you-ve-got-to-take-some-chances-and-know_426157.png) [Open image](https://sms4smile.com/quotes/i/faa/phil-ivey-55624_advantage_you-ve-got-to-take-some-chances-and-know_426157.png) > “You've got to take some chances and know when you're beat and know how to get certain advantages.” [Phil Ivey](https://sms4smile.com/quotes/author/phil-ivey/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Success requires calculated risk, recognizing limits, and exploiting strategic edges. **In simple terms:** Take risks, know your limits, and use advantages. Key Takeaway Balance risk with self‑awareness. Themes risk strategy self‑knowledge advantage Mood confident strategic Type motivational practical When to use this quote - business decisions - investment choices - competitive sports - negotiations Key Concepts game theory probability psychology Questions to Reflect On - When is a risk too great? - How do you ensure fairness while seeking advantage? A Different Perspective Overemphasis on advantage can ignore ethical considerations. ★ ★ ★ ★ ★ No ratings yet [Advantage](https://sms4smile.com/quotes/about/advantage/) [Beats](https://sms4smile.com/quotes/about/beats/) [Certain](https://sms4smile.com/quotes/about/certain/) [Certain Advantages](https://sms4smile.com/quotes/about/certain-advantages-724022/) [Chance](https://sms4smile.com/quotes/about/chance/) [Chances](https://sms4smile.com/quotes/about/chances/) [Chances Know](https://sms4smile.com/quotes/about/chances-know-2178260/) [Got Chances](https://sms4smile.com/quotes/about/got-chances-696230/) [Know Beat](https://sms4smile.com/quotes/about/know-beat-2788889/) [Know how](https://sms4smile.com/quotes/about/know-how/) [Knows](https://sms4smile.com/quotes/about/knows/) ## Related quotes > [It is not like I have gone crazy, I just don't want to take any chances. You never know what could happen.](https://sms4smile.com/quotes/ruth-bader-ginsburg/it-is-not-like-i-have-gone-crazy-i-just-don-t-want-to-take-any/) [Ruth Bader Ginsburg](https://sms4smile.com/quotes/author/ruth-bader-ginsburg/) > [When you're taking chances, you know it's not going to please everybody.](https://sms4smile.com/quotes/larry-wilmore/when-you-re-taking-chances-you-know-it-s-not-going-to-please-everybody/) [Larry Wilmore](https://sms4smile.com/quotes/author/larry-wilmore/) > [Over the years, I've had hundreds of shots blocked. 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The advantage of being exposed to a new culture…](https://sms4smile.com/quotes/shirin-neshat/those-of-us-living-in-the-state-of-in-between-have-certain-advantages/) [Shirin Neshat](https://sms4smile.com/quotes/author/shirin-neshat/) > [The Chinese have certain advantages. The fact that it's a single party government. But I do believe in the long run the fact that…](https://sms4smile.com/quotes/manmohan-singh/the-chinese-have-certain-advantages-the-fact-that-it-s-a-single-party/) [Manmohan Singh](https://sms4smile.com/quotes/author/manmohan-singh/) > [It's obvious that St. Louis has certain advantages compared to other cities: namely, a concentration of financial services.](https://sms4smile.com/quotes/jim-mckelvey/it-s-obvious-that-st-louis-has-certain-advantages-compared-to-other/) [Jim McKelvey](https://sms4smile.com/quotes/author/jim-mckelvey/) > [“beautiful girls have certain advantages.”](https://sms4smile.com/quotes/janet-fitch/beautiful-girls-have-certain-advantages/) [Janet Fitch](https://sms4smile.com/quotes/author/janet-fitch/) ## More by Phil Ivey > [The biggest thing when you're playing live is that you're sitting across from the player and can get a detailed impression of how they're…](https://sms4smile.com/quotes/phil-ivey/the-biggest-thing-when-you-re-playing-live-is-that-you-re-sitting/) [Phil Ivey](https://sms4smile.com/quotes/author/phil-ivey/) > [You get your chips your way, I'll get my chips mine.](https://sms4smile.com/quotes/phil-ivey/you-get-your-chips-your-way-i-ll-get-my-chips-mine/) [Phil Ivey](https://sms4smile.com/quotes/author/phil-ivey/) > [A lot of people these days are too ambitious; their sights are set too high at the start and they end up diving in…](https://sms4smile.com/quotes/phil-ivey/a-lot-of-people-these-days-are-too-ambitious-their-sights-are-set-too/) [Phil Ivey](https://sms4smile.com/quotes/author/phil-ivey/) > [I'd work on my game online and at casinos, build my bankroll, find good games, and try to put myself in a position to…](https://sms4smile.com/quotes/phil-ivey/i-d-work-on-my-game-online-and-at-casinos-build-my-bankroll-find-good/) [Phil Ivey](https://sms4smile.com/quotes/author/phil-ivey/) > [I wouldn't count it out, but right now I feel like my career is still just starting. The best years are yet to come.](https://sms4smile.com/quotes/phil-ivey/i-wouldn-t-count-it-out-but-right-now-i-feel-like-my-career-is-still/) [Phil Ivey](https://sms4smile.com/quotes/author/phil-ivey/) [Explore all 6 Phil Ivey quotes ](https://sms4smile.com/quotes/author/phil-ivey/) ## More Advantage quotes > [Dogmatists have one advantage: they are poor listeners.](https://sms4smile.com/quotes/frans-de-waal/dogmatists-have-one-advantage-they-are-poor-listeners/) [Frans de Waal](https://sms4smile.com/quotes/author/frans-de-waal/) > [ Next came the Patent laws. These began in England in 1624; and, in this country, with the adoption of our constitution. Before then \[these?\],… ](https://sms4smile.com/quotes/abraham-lincoln/next-came-the-patent-laws-these-began-in-england-in-1624-and-in-this/) [Abraham Lincoln](https://sms4smile.com/quotes/author/abraham-lincoln/) > [Talented people can predict with great accuracy what's about to happen just a tiny bit ahead of their competitors. 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I think it's just ingrained in…](https://sms4smile.com/quotes/kelly-blatz/for-some-reason-when-i-decide-to-pursue-something-i-never-have-any/) [Kelly Blatz](https://sms4smile.com/quotes/author/kelly-blatz/) > [I think I have good hands, so I try to use them to my advantage.](https://sms4smile.com/quotes/bianca-andreescu/i-think-i-have-good-hands-so-i-try-to-use-them-to-my-advantage/) [Bianca Andreescu](https://sms4smile.com/quotes/author/bianca-andreescu/) > [My influences are jazz, blues, European classical music; they are rock music and pop music. So many kinds of music. World music from different…](https://sms4smile.com/quotes/rokia-traore/my-influences-are-jazz-blues-european-classical-music-they-are-rock/) [Rokia Traore](https://sms4smile.com/quotes/author/rokia-traore/) > [Baseball needs to put the steroids era behind it by having and enforcing tough rules against all kinds of artificial advantages, so that spring…](https://sms4smile.com/quotes/marvin-olasky/baseball-needs-to-put-the-steroids-era-behind-it-by-having-and/) [Marvin Olasky](https://sms4smile.com/quotes/author/marvin-olasky/) > [Daily contact with some teachers is itself all-sided ethical education for the child without a spoken precept. Here, too, the real advantage of male…](https://sms4smile.com/quotes/g-stanley-hall/daily-contact-with-some-teachers-is-itself-all-sided-ethical/) [G. Stanley Hall](https://sms4smile.com/quotes/author/g-stanley-hall/) > [ If \[Donald\] Trump throws 20 million off of health care, that's going to be - if he handles this badly - and it's very… ](https://sms4smile.com/quotes/van-jones/if-donald-trump-throws-20-million-off-of-health-care-that-s-going-to/) [Van Jones](https://sms4smile.com/quotes/author/van-jones/) > [Live in the world you inhabit. Look upon things as they are. Take them as you find them. Make the best of them. Turn…](https://sms4smile.com/quotes/robert-e-lee/live-in-the-world-you-inhabit-look-upon-things-as-they-are-take-them/) [Robert E. 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