Gambling – The High Price Of Hope
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Every year people, lose billions of dollars, and waste millions of hours, gambling.
When they could be doing something productive.
Clubs and casinos set the odds, the venue, the conditions, in their favour and not yours, so they win and you lose.
WHEN NOT TO GAMBLE
When the odds are not in your favour.
With negative sum games.
And, when you use poor money management, are conflicted, alcohol or other drug affected, upset, worried, depressed, lonely, self-destructive or masochistic, you can lose far more.
Perhaps, everything you have.
Even, go into debt as well.
Even, with positive sum games.
When the odds are in your favour.
You can still lose by poor money management.
WINNING GAMBLERS
To be a winning gambler you need to know 4 things.
1: When you are being deceived or cheated.
2: When the odds are in your favour.
3: Money management.
4: Yourself.
Or, alternatively, only gamble against people who you do win against – people worse than you.
GAMBLING GAMES
NO SKILL, NEGATIVE SUM GAMES
Long term you cannot win, at no skill negative sum games, so do not waste your time and money trying.
If you really must then buy a weekly lottery ticket.
That way you will not lose much money or time and have a very, very, very small chance of winning something worthwhile.
If the lottery is for a good cause then you can consider it as a non tax-deductible charity donation.
Unfortunately, many lotteries are run by commercial businesses.
And, many charities spend most of the donations, on themselves.
NEGATIVE SUM GAMES OF SKILL
These games can be a trap.
You have to have enough skill to overcome the disadvantage.
And, you can waste a lot of time and money on trying to do this, that would be better put into positive sum games.
NO SKILL, POSITIVE SUM GAMES
The odds are in your favour.
There is no skill.
It is all a matter of good money management.
POSITIVE SUM GAMES OF SKILL
The odds are in your favour so you can win simply by good money management.
If you have more skill than your opponents you can use your skill too.
WHY DO PEOPLE LOSE AT POSITIVE SUM GAMES?
They turn a positive sum game, into a negative sum game, by poor money management.
MONEY MANAGEMENT
THE MATHEMATICS OF GAMBLING
If you had odds of 9/2, that is a dividend of $5.50 for $1, about a 20% chance of winning you would have a 10% advantage.
If you had a bank of $1000, to bet with, what proportion of your bank should you bet?
Bet% = (p – q/odds)x100
= (0.2 – 0.8/4.5)x100
= 2.2%
So your first bet should be $22.
OVER-BETTING
If you had $1000 to bet with would you only bet $22?
Or, would you bet more?
And, so through poor money management, eventually lose all of your $1000 even though you had a positive sum game?
BLACK JACK
Some people think that they can win at blackjack by card counting.
In practice, almost all card counters lose their money.
The few who do win significant amounts of money are banned from the casinos.
And, all that time they spent on developing a skill, that is of no use anywhere else, is wasted.
THERE IS NO SUCH THING AS MONEY YOU CAN AFFORD TO LOSE
Next time you get the urge to gamble – think of how much you can afford to lose – and then buy yourself a present that you really want and will use.
And, whenever you use it, think how much better it is to have bought this, than to have lost your money gambling.
IF YOU ARE TRULY ADDICTED – MASOCHISM AND SELF-HARM
Gambling can be every bit as addictive and destructive to yourself, your family, and friends as any other addiction.
If the rational approach, of proving mathematically that you will lose your money, will not stop you, then think – why do you want to be so self-destructive – to self-harm.
Then find out why.
Do not punish yourself by losing your money by gambling.
Buy yourself, or someone you like, a nice present.
WHAT ARE YOU HIDING FROM?
If you want to switch off your brain, so that you do not feel the pain of past traumas or present loneliness, then get a useful interest in life.
Gambling will not solve the problems in your life, or in yourself, that you are hiding from.
Gambling can only add financial problems to the problems you already have.
ALTERNATIVES
CARDS
If you are addicted to gambling with cards then play for the skill, company, mental exercise, and not for the money.
IF YOU KNOW A GAMBLER
Never give them or loan them any money.
You could refer them to a gamblers helpline.
If their self-destructive gambling has left them financially desperate then you could give them food.
But, never give them cash.
And, make sure that they cannot steal any of your money.
IF YOUR PARTNER, PARENTS, OR CHILDREN, ARE GAMBLERS
Keep all your finances in separate accounts in your name only.
IF YOU AND YOUR PARTNER ARE BOTH GAMBLERS
You could gamble against each other – then whichever one of you wins can pay the bills.
The Complete Goddess Christianity Bible Epub And PDF
https://drive.google.com/drive/folders/1k94xSy8NaEWg1k8vzd2qoJwsi8qAGIaI
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