Buying a gun for protection is usually for the mathmatically challenged

[beardown]

23. Probability and Stats sure takes the mystery out of gambling

Last edited Thu Oct 15, 2015, 12:25 PM - Edit history (1)

I remember a saying about math too.

You can drown in a river that only averages 12 inches in depth.

Here's an unofficial stat. Most times discussions that start with "I am not big on taking away peoples rights and if people want to have a XXXXXX" you can assume that the person wants to take away your XXXXXX.

There are different types of gambling. Gambling for fun and gambling for profit. Most folks know the house has an edge and consider the fun and excitement as the profit from gambling and not just the actual net monetary impact. I used to 'gamble', but I did not gamble to gamble. I gambled to win. I only gambled on NFL football and card games where there was no built in statistical edge for the house, outside of the bet fee so to speak. I made calculated bets based on analysis of NFL games or other card players' abilities and tendencies.

I don't know if it's related to this subject, but it's one of my favorite probability lines of all time (what are the odds anyone has a favorite probability line?). Original Star Trek series. Kirk and Spock are trying to infiltrate an enemy base. Spock says "we only have a 1.2 percent (something like that) chance of succeeding". Kirk replies, "Spock, either we make it or we don't. It's 50 50."