It's A Quote

[Oldandeasilyconfused]

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.