(December 3, 2021 at 5:06 pm)Oldandeasilyconfused Wrote:

(December 2, 2021 at 3:03 pm)Jehanne Wrote: There are lies, damned lies, and then, there's statistics.
-- Mark Twain

First time I heard that quote I was actually studying statistics.

He told as an anecdote something like :" In the city of Glasgow , ministers of The Church Of Scotland recently received a 10% rise. For the same period, local police have advised that arrests for solicitation went up 17%"

Same teacher gave this advice " Never play poker with a statistician". Have never played enough poker to verify that claim.

I don't play poker because I DO know the odds, and am shit at bluffing. Plus, money is hard enough to come by to take a chance on losing it in a game of chance.

(December 3, 2021 at 5:58 pm)Fireball Wrote:

(December 3, 2021 at 5:06 pm)Oldandeasilyconfused Wrote: First time I heard that quote I was actually studying statistics.

He told as an anecdote something like :" In the city of Glasgow , ministers of The Church Of Scotland recently received a 10% rise. For the same period, local police have advised that arrests for solicitation went up 17%"

Same teacher gave this advice " Never play poker with a statistician". Have never played enough poker to verify that claim.

I don't play poker because I DO know the odds, and am shit at bluffing. Plus, money is hard enough to come by to take a chance on losing it in a game of chance.

Poker isn’t a game of chance, not exactly. It’s better described as a game of skill with a moderate element of chance, especially in any of the forms of stud poker.

I’ve been teaching optimists not to draw to an inside straight for years.

Boru

(December 3, 2021 at 5:58 pm)Fireball Wrote:

(December 3, 2021 at 5:06 pm)Oldandeasilyconfused Wrote: First time I heard that quote I was actually studying statistics.

He told as an anecdote something like :" In the city of Glasgow , ministers of The Church Of Scotland recently received a 10% rise. For the same period, local police have advised that arrests for solicitation went up 17%"

Same teacher gave this advice " Never play poker with a statistician". Have never played enough poker to verify that claim.

I don't play poker because I DO know the odds, and am shit at bluffing. Plus, money is hard enough to come by to take a chance on losing it in a game of chance.

I was about 12 when I realised gambling's a mug's game, unless you are the bank. I was taught the raw odds, and promptly forgot them . The stats teacher was talking about the odds on a hand, going by what's been dealt. It's essentially card counting and you need to be very mentally nimble.

My mother told me never gamble more than you can afford to lose. Same with investments. She was right.

Stopped buying National Lottery tickets (XLotto) about 30 years go. I saw it for what it is; a sneaky way to tax the poor.

Last time I played poker was 1967, with friends. Penny ante. I won $2.50.

A hotel gives out free money for the local casino, with the catch that it has to be played at least once. My average has been around 70% of the money coming back after using it once in slots. For 20 minutes of mild fun, I get some "free" money. They are betting, of course, that it will played until gone.

(December 3, 2021 at 6:44 pm)Oldandeasilyconfused Wrote:

(December 3, 2021 at 5:58 pm)Fireball Wrote: I don't play poker because I DO know the odds, and am shit at bluffing. Plus, money is hard enough to come by to take a chance on losing it in a game of chance.

I was about 12 when I realised gambling's a mug's game, unless you are the bank. I was taught the raw odds, and promptly forgot them . The stats teacher was talking about the odds on a hand, going by what's been dealt. It's essentially card counting and you need to be very mentally nimble.

My mother told me never gamble more than you can afford to lose. Same with investments. She was right.

Stopped buying National Lottery tickets (XLotto) about 30 years go. I saw it for what it is; a sneaky way to tax the poor.

Last time I played poker was 1967, with friends. Penny ante. I won $2.50.

I normally refer to the lottery as a "stupidity tax".

(December 3, 2021 at 7:45 pm)HappySkeptic Wrote: A hotel gives out free money for the local casino, with the catch that it has to be played at least once.  My average has been around 70% of the money coming back after using it once in slots.  For 20 minutes of mild fun, I get some "free" money.  They are betting, of course, that it will played until gone.

Yeah, it's my understanding that poker machines are one of the most addictive forms of gambling there is. The reason seems to be that they use intermittent reinforcement. All machines are set to pay out winnings of a few dollars as you go. Most people continue playing. Eventually, the machines  always win.

Poker machines are big problems here. Most pub will have perhaps a dozen or so machines. Without the poker machine profits, many local pubs would simply close. That's what I want to see. Then a lot of the money gambled would end up with local businesses.

‘I had the easiest job in show business. All I did was say, “Gracie, how’s your brother?” and she talked for 35 years.’ - George Burns

Boru

"If God has spoken, why is the universe not convinced?" (Percy Bysshe Shelley) 

(December 3, 2021 at 11:10 pm)onlinebiker Wrote:

(December 3, 2021 at 6:44 pm)Oldandeasilyconfused Wrote: I was about 12 when I realised gambling's a mug's game, unless you are the bank. I was taught the raw odds, and promptly forgot them . The stats teacher was talking about the odds on a hand, going by what's been dealt. It's essentially card counting and you need to be very mentally nimble.

My mother told me never gamble more than you can afford to lose. Same with investments. She was right.

Stopped buying National Lottery tickets (XLotto) about 30 years go. I saw it for what it is; a sneaky way to tax the poor.

Last time I played poker was 1967, with friends. Penny ante. I won $2.50.

I normally refer to the lottery as a "stupidity tax".

 There is that. I think of it as a sneaky tax on the poor. When I say I don't buy lottery tickets, my mother (who was far from stupid) and my cousin (who is also stupid) both say "you have to be in it to win it".   Here you pick rows of numbers.  The odds are in the millions to one, I think. But it's not uncommon for nobody to win in a given week. The prize then jackpots.

There's some mob here who doesn't pay out a jackpot. Instead , the winner receives $20,000 month for twenty years. Bloody dishonest. I'd want all of my money, so I could invest it , mainly in real estate.  In 20 years, if care was taken, the original capital would double , twice.  Here the average return on op property in good areas is 12.5% a year. Yes, there is capital gains tax, bud you'd still come out ahead because you would also have had rent on those properties for 20 years.

‘You would think that being a rock star who’s married to a supermodel would be the greatest thing in the world. It is.’ - David Bowie

Boru