Let’s start with the good news: You are about to win $500. No, it’s not 100 percent certain, but frankly, it looks pretty darn good. All you need to do is drive to New York, buy a lottery ticket and play the number...
Latest Posts
Hard Times – Soft Couch; Yes, I’m Unemployed!
Yes, I am unemployed at the moment, but by no means unoccupied. Hmm, that just looks so bad in writing! I fired myself at my last job. I was unhappy for a long time but I just couldn’t bring myself to do it. Late last month...
How Betfair Works
I have registered for Betfair, and I do not understand how it works. I want to offer odds to people, but I am told that I have sufficient funds. For example, If I offer portugal to win Euro 2004 at 9/1 and have £10 in my...
Odds and UK National Lottery
I have found a competition that seems to have pretty good odds of winning a car. Basically they are selling 2,900 tickets for a spot the ball competition which seems good when compared to things like the Lottery. There are a few...
Is the Stock Market a Ponzi Scheme?
Yes, the stock market is a ponzi scheme but until the masses come to the same conclusion (which may already be happening) the scheme will be alive and well. I won’t worry too much about the market falling apart though...
Options Trading – Compared to Gambling and Reinsurance
The probabilities of options trading are not so different from those in the insurance and gaming/casino industries. To make money, it helps to play the odds the way insurers and casinos do. Credit spreads are one way to do it...
Tips from the Experts
In the last five years, poker has become America’s new favourite pastimes – a game for gamers, sophisticates, and laymen alike, a dual in which strategy, game-face, and the luck of the draw can yield outrageous...
The Sunk Costs of Trading
by Annie Duke When I was in graduate school studying cognitive Psychology, I learned about an error in the human decision-making process called sunk cost. This refers to resources, whether they are time or money or anything else...
The EDGE, the HOLD, and that friendly PASS LINE
The Mississippi Gaming Commission recently posted the “Hold” percentage for table games on the coast. Blackjack was listed at 14.58%. If, using perfect basic playing strategy, the house edge is supposed to be...
Playing Like a Donkey…
“Dig in your heels and refuse to go.” This is a line my old teacher Stuart Wilde used when he would be in a battle with the croupier at the blackjack table. He would compare the losing experience to being pulled over...