Re: Forth and Co - The Return of the Jedi

John Doty <jpd@xxxxxxxxxxxxxxxxxxxxxxx> wrote:

The reliable profits of a casino result from the unpredictability of the
games.

You mean, like, if the result of every single gamble was that you lost 2% of your money then you'd stop playing?

That's true, but I think there's more to it than that. Everybody knows that casinos win pretty consistently and that players lose pretty consistently. You only have to look at the wealth put into the casino itself. It's just like "But Daddy, where are the customers' yachts?".

People who gamble in casinos do it even though they rationally know that they'll mostly lose and that their winnings predictably won't balance their losses. They do it anyway.
.

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