Don’t forget the government bailout when their gamble fails.
If you’re rich you can afford to gamble, lose and try again.
If you’re poor, you can gamble, win, and then have to spend your winnings helping out your family and community. Like, paying for the operation your uncle needs but couldn’t afford, or helping mom’s friend from church avoid losing her home.
This is a reason that a lot of poor-person owned businesses don’t grow. They may start strong, but then the business owner has trouble continuing to invest.
very well put.
Are you telling me my gambling addiction will finally pay off??!
Most gamblers quit right before they become rich
The Quitter’s Fallacy.
I’m not sure why that’s germane, but I’m happy it’s here.
The serious answer is that you need to play positive sum games.
I disagree. The serious answer is you have to be the one person that gets lucky.
Take 1024 people each with $1000. They all play roulette and go all in every round, half on black half on red. After 10 rounds, 1023 people have lost all their money, and one has won a million dollars.
The person who “made it” didn’t do anything different, or play a +EV game. He just got lucky.
Roulette is not a positive sum game, though. If you keep playing, eventually you will lose everything to the house.
A positive sum game is where repeated plays will average out to a net gain. The secret is having enough initial capital to keep you alive if your initial gambles don’t pan out. People living paycheck to paycheck don’t have that
You’re correct, but you’re also being a bit pedantic and ignoring the point OP is trying to make. It still illustrates the point just fine at 47.4% instead of 50%. Odds of winning 10 in a row go from 1:1,024 to 1:1,746.
That gambling tower is defying the laws of physics and it will come crashing down.
Just like gambling, I guess.
Hmm, this makes me want to play Lemmings again for some reason.
Fuuuck that takes me back to the dos days. They dont make games like they used to (in pure assembly I mean)
Image is actually cut off. What’s missing is below each person there’s a swimming pool. For poor people it’s filled with water, for successful it’s filled with money.
Give All Matters Bullish Attention
Or what does it stand for?
It’s not an acronym
INAA?
OLGA
So it just means Shrimp? Hmm kay
Agree?
/s
Who is this guy I’ve now seen in two gambling memes
Wee lambs -
Gambol gambol gambol
