I hope that everyone knows the first rule of gambling: “The longer you play, the more you lose.”

The odds are (only) the first obstacle for a gambler. The games are designed so that the house takes in more money than it pays out. Even in games that are known for more generous odds, a small edge favoring the house makes plenty of difference.

The second problem for the gambler is related to his finite resources. No matter how successful a gambler has been, he is always a certain number of losses away from going completely bankrupt. The casino has comparatively limitless resources and is not similarly vulnerable. If the gambler plays long enough, then he will eventually have a string of losses that are large enough to eradicate all previous gains. This is true *even if the odds of the game are in the gambler’s favor*. Another way to analyze this problem is to imagine a simple game. In this game, a bettor starts with $400. The bettor calls two coin flips. If he is correct on either one, he doubles his money. If he is wrong on both, he loses half of whatever amount he last won, or else $100 if he hasnâ€™t won yet. For example, if he calls the first or the second flip correctly, then he wins $400, so that he has a new stake of $800. If he calls both the third and the fourth flips incorrectly, then he loses half of $400, which is $200, so his stake drops to $600. The game continues until the bettor has no money. What is the probability that the game will eventually have to end? If the bettor is ever wrong on 9 consecutive coin flips, it will always break him. Even though it may take awhile, if the bettor does not leave the game voluntarily he is guaranteed to eventually hit a rocky streak that costs him everything.

The third problem for the gambler is based on utility theory. One dollar is not always equal to another dollar. Suppose that a gambler has a net worth of $10K. And suppose that the gambler is willing to stake half of it on a “fair” game, meaning that the odds of winning are 50%. If the gambler wins, he stands to gain enough money to live in a more comfortable apartment or to drive a more expensive car. If the gambler loses, he stands to lose the car and some of the furniture that he already owns. The discomfort associated with losing would be greater than the reward for winning. Because of diminishing returns, the money in the gambler’s pocket is more valuable than the same amount of money in the pot. A rational gambler would not be willing to play this game *even if the odds gave him an edge*.

A gambler going against the house is mathematically predisposed to lose. A gambler who plans on winning is mathematically handicapped. Luck favors the ones who walk away earliest.

abr21Leonardo entÃ£o nÃ£o reclama e deixa descontar, na proxima chuva sai 5 horas antes a hora de saÃda normal. estamos desta maneira sendo tratados como escravos por conta de comportamento assim. se tem medo entÃ£o nem comenta pq seu empregador pode ouvir pelos corredores e etc.

Why does this have to be the ONLY reliable source? Oh well, gj!

Pre-Divorce Education: Why Divorce Gets Dirty and How To Avoid The Mud | Financial Divorce Expert Pretty nice post. I just stumbled upon your blog and wished to say that I’ve really enjoyed surfing around your blog posts. After all I’ll be subscribing to your feed and I hope you write again soon!

My favourite trick is to peel my onions underwater so that I don’t tear up nearly as much. Works well because the bulk of the onion gas is under the first 2 layers of skin (supposedly). It used to work a treat when I was stuck peeling kilos and kilos of them for work!

DeparisÃ©Merci, aussiAprÃ¨s cette lecture si apaisante, rationnelle et intelligente on se sent mieux. Je sens que je vais passer une trÃ¨s bonne nuit.Ce genre de texte rend plus intelligent toute personne qui le lit. Alors n’hÃ©sitez pas ! Abuser de bon sens est bon pour le cerveau !

Du Ã¤r min Don Quijote 😀 (hihi, orkar inte Googla stavningen, hoppas pÃ¥ det bÃ¤sta) big time!LyckÃ¶nskar er infÃ¶r veckans prÃ¶vning, ni kommer slÃ¥ dem med hÃ¤pnad och ni ska se att det kommer gÃ¥ jÃ¤ttefint!Kram till er bÃ¥da//Helena

Unbelievable how well-written and informative this was.

Ca me fait penser Ã un truc. Ce matin jâ€™ai lu dans le monde quâ€™ici, en Angleterre, la croissance Ã©tait nÃ©gativeâ€¦La crise touche aussi les journalistes ou Â« croissance nÃ©gative Â» est un terme purement d’Ã©conomiste ?Pour moi, l’inverse de croissance serait rÃ©cession (qui peut Ãªtre positive ou nÃ©gative)â€¦Si on peu me renseigner sur ce sujetâ€¦Z

I’m not easily impressed. . . but that’s impressing me! 🙂

Thank you so much for providing individuals with a very marvellous opportunity to check tips from this web site. It can be very kind and as well , packed with a great time for me personally and my office acquaintances to search your website at a minimum thrice a week to read the fresh stuff you will have. And indeed, I am also always fascinated with your surprising things served by you. Some 1 points on this page are really the most impressive we’ve had.

It got me all wrong. So I looked at the examples of each of the 5 possible outcomes and knew right away which one was me. For fun, I took the quiz 3 more times (they give some different choices each time). In a total of 4 times taking the quiz, I got 3 different answers, none of which was correct.

helt sannslÃ¶st.. det Ã¤r endast fÃ¶r att det Ã¤r en muslim som de sÃ¤tter ut de i tidningarna.. hade detta varit en svensk hade de sÃ¤kert aldrig lagt ut de i tidningarna.. sÃ¥ arg jag blir… Polisen tar inte till vÃ¥ld om inte brottslingen gÃ¶r det fÃ¶rst sÃ¥klart.. vart Ã¤r vi pÃ¥vÃ¤g? ska sveriges poliser tryckas ner av media hela tiden..

I love Raven and I think she is a GREAT role model for these young girls. Everyone doesn’t have to be super skinny and everyone should be as comfortable in their skin as she is. I’m always rooting for her!!!!

oloi mazi na pame panw , na apografoume!poli kali anakoinosi!egw tha anevw tin pempti mazi me oli mou tin oikogenia!kai as afisoume tous epaggelmaties tis politikis na dinoun maxes sto xarti!

This site is like a classroom, except I don’t hate it. lol

A provocative insight! Just what we need!

I really couldn’t ask for more from this article.

I hear different. Not many people can make money from currency trading. However, you only need to understand it a little more than others and you will have an edge. The money in the forex market will be distributed according to losers and winners. There is some kind of a balance between the two.

Thanks for helping me to see things in a different light.

Hi hi Sonia. I so happen to chance upon your blog. I just posted very recently a post on "wholemeal maple syrup pancakes". Just wanted to share the recipe with you if you wanted a wholemeal flour one. You got a nice blog. Thanks for the inspiration – shaz

Once I initially commented I clicked the -Notify me when new feedback are added- checkbox and now every time a comment is added I get four emails with the same comment. Is there any means you may take away me from that service? Thanks!

Finding this post. It’s just a big piece of luck for me.

Ernestoon Hola.. tengo una duda no se supone que cualquier 3gs siendo de la semana 34 del 2011 hacia abajo.. puede usar la bb ipad y ser liberado para cualquier compaÃ±ia, asi ya se evitaria la pena uno de usar el desbloqueo por imei..

It’s annoying when they confound our best efforts, isn’t it?! We’re big fans of pizza faces here – pita bread bases, and then all the ingredients for a face. We use grated cheese for hair, olives for eyes, corn kernals for teeth, cherry tomato slices for cheeks, or any variation I can find in the cupboard. Slices of carrot work well for round eyes too, baked beans for teeth!

It’s always a pleasure to hear from someone with expertise.

Heck of a job there, it absolutely helps me out.

Normally I’m against killing but this article slaughtered my ignorance.

bugÃ¼n bende bu ojeyi sÃ¼rdÃ¼m…dediÄŸin gibi 3 kat istiyor bencede, yada ben altÄ±na bir kat mor yada siyah oje sÃ¼rÃ¼yorum. swatchlar bence baÅŸarÄ±lÄ± olmuÅŸ ellerine saÄŸlÄ±k

Good job making it appear easy.

Nachtrag: Filettieren will gelernt sein, und weil das Endergebnis ein wenig zerzaust aussah, lasse ich das Foto jetzt einfach mal weg…;-)

Que bella, cuanta alegrÃa. No puedo dejar de ver su sonrisa y su manicure. Gracias por compartir. Quiero invitarte a conocer un poco de mi paÃs en estas , muÃ©vete a verlas, valen la pena. Besos y besos.

That’s the best answer by far! Thanks for contributing.

Shiver me timbers, them’s some great information.

Stay with this guys, you’re helping a lot of people.

Reading this makes my decisions easier than taking candy from a baby.

Acho o FernandÃ£o muito inteligente, tem uma leitura tÃ¡tica rara em jogadores de futebol e -pela lÃ³gica – Ã© bem quisto pelo grupo.Mas tenho quase certeza que a falta de experiÃªncia como treinador vai pesar.Ser treinador nÃ£o Ã© sÃ³ jogar colete para cima (apesar de alguns fazerem quase isso) e acho que o Inter errou feio.NÃ£o tinham muitas opÃ§Ãµes, Ã© verdade, mas a decisÃ£o do Inter ACHO que comprometeu (mais um) BrasileirÃ£o.

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Right on-this helped me sort things right out.

You couldn’t pay me to ignore these posts!

A really good answer, full of rationality!

Finding this post has solved my problem

Knowledge wants to be free, just like these articles!