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...
Latest Posts
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...
Discipline – Key in both Trading and Gambling!
Time for another piece on discipline. You will recall that discipline is not a set of rules or dogma. It is not a rigid formula of “should do’s”. The purpose of discipline is to keep you from manipulation and...
My Gaming Preparation
A reader asked me how or if I prepare before playing. Do I just throw caution to the wind with an expectation of winning? Here is my reply. I do not differentiate between how I play casino games and the way I play the game of...
