on Gambling

Gambling and investing are similar – except that gambling is for amusement, investing is for profit. (Harry Anderson c.1991)

Count on losing it all – how fast is a matter of knowledge and skill. I figure out how much to take gambling based on how long I want to be there, then adjust my game play to match my wallet. Check out the section on time v. money to figure your rate of loss. (me, c.2002)

Craps is like Life – You can be on either side, but the house still takes it cut. In other words, life isn’t fair.(unknown)

The more you know – the slower you can lose. In craps knowing the correct odds is the difference between losing all your money now and losing all your money in a couple of hours. All things considered learn some probability. (unknown)

Statistics say there’s no such thing as luck – gamblers say that statistics lie. (unknown)

Blackjack can be annoying – if you know how to play and someone to your right doesn’t. This might be the origin of “justifiable homicide”. (me, c.1999)

Take your stake off the table – if you get ahead. Only play with the winnings for then on. You’ll at least keep what you came with. This applies to investing as well.(unknown)

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