Like most things in life, we think gambling is something everyone should try at least once. If you don’t like gambling and love investing, there’s something you should know: Most investing is a form of gambling. You can say that you get to look at different factors when you invest.
If you get too much info, that’s called insider trading. It’s cheating. The whole point of the stock market is that you’re not supposed to know when a stock is about to take a dive. So if you sell at the right time, you were lucky – not a smart investor.
Luck Or Something More?
Gambling is, of course, based entirely on luck. Or is it? If you know how to play, there are some pretty clever ways that you can come out on top without winning the odds. Card counting is an example of this. If you have a stellar memory, you can count what cars show up in each hand. Eventually, you then know exactly what’s left in the stack. You also know if you’re going to win or lose.
At least you’ll improve your estimate of the odds. You’re still playing the odds, but now you’re using actual information. The bad news is that if you get caught counting cards, you’ll be lucky if you only have your winnings taken away. Are there other examples of how gambling isn’t always against the odds?
Winning The Gamble
Sure, if you use math again. Take horse racing as an example. If you watch previous races, monitor the jockeys and the horses, you’ll have a good idea of which horse might win. You can also compare weights and past performances to figure out which is the best bet . You’ll also be able to figure out which horse will win even when the odds are against them.
You might think, “well if gambling is this easy, why doesn’t everyone win?” It’s not easy; it takes an incredible mathematical skill that most people simply don’t have. Here’re some other tips you can use.
Don’t Gamble In A Casino
Casinos are designed so that what you win, you lose. Few people win in a casino and walk out with their money. Human nature is against you on this one: win once and you think you’ll win again, so you place another bet. At which point the house wins. You’re better off playing in an arena where the bets are under your control, like a horse racing track.
When you place a horse racing bet, you’re not standing in a bright and colorful room, packed full of chemicals to keep you playing. This is true. Las Vegas casinos use scent science to ensure that people don’t walk out before they’ve lost a few hands. They encourage the addiction.
Don’t Bet Online
Betting online is dangerous, particularly in an online game. We don’t mean placing bets; we mean playing something like online poker. The cards aren’t real so subconsciously you think you’re not losing any money.
Until you realize that you’ve spent a fortune, and it’s all been taken from your account. Research has shown that we take more risks online. That’s why you’re best gambling in the real world.