Wagering is interesting, the house takes a cut and is profitable, so therefore the wagering population as a whole cannot win. However, when dealing with averages, there are wide disparities between individual outcomes. It’s always amazed me how people can be convinced that they are part of the select minority that can benefit rather than part of the great unwashed masses who won’t.
Years ago, when I got out of college, I was desperate for a job. One of my interviews turned out to be with the state lottery commission (I answered a newspaper ad to send a resume to a post office box). The interview was going swimmingly, and I thought I had the job. Then the interviewer told me that, should I be hired, I would not be allowed to purchase tickets — and then he asked me if that would be a problem. I told him that was no problem since I had never purchased a ticket up to that point. He asked me why, and I told him that I had taken “Probability and Statistics” in college, and hence knew the odds. The interview went right into the toilet after that, apparently they want employees who are also deluded — it probably makes it easier to draw in the suckers.
Is that real? I mean, let’s say he’s been wagering for 40 years. That would be an average of $25,000,000/year. And the worst he ever did was to lost $100,000? I’m not buying it.
Robert Nowall Premium Member about 1 year ago
“Wagered.” What’s the win-loss ratio on it?
Polsixe about 1 year ago
You can’t beat the House in wagering.
KenHelmick about 1 year ago
Wagering is interesting, the house takes a cut and is profitable, so therefore the wagering population as a whole cannot win. However, when dealing with averages, there are wide disparities between individual outcomes. It’s always amazed me how people can be convinced that they are part of the select minority that can benefit rather than part of the great unwashed masses who won’t.
Years ago, when I got out of college, I was desperate for a job. One of my interviews turned out to be with the state lottery commission (I answered a newspaper ad to send a resume to a post office box). The interview was going swimmingly, and I thought I had the job. Then the interviewer told me that, should I be hired, I would not be allowed to purchase tickets — and then he asked me if that would be a problem. I told him that was no problem since I had never purchased a ticket up to that point. He asked me why, and I told him that I had taken “Probability and Statistics” in college, and hence knew the odds. The interview went right into the toilet after that, apparently they want employees who are also deluded — it probably makes it easier to draw in the suckers.
Ellis97 about 1 year ago
Don’t gamble unless you can afford to lose and if you win, don’t go double or nothing.
happyainthappy about 1 year ago
Well,it was either Saudi Arabia or the Corleone Family when you’re THAT deep in debt!
happyainthappy about 1 year ago
Judging by Tuesday’s game with Houston,Boston Red Sox have a third baseman who doesn’t know the difference between a ground ball and a greased pig
Mopman about 1 year ago
Is that real? I mean, let’s say he’s been wagering for 40 years. That would be an average of $25,000,000/year. And the worst he ever did was to lost $100,000? I’m not buying it.