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Maybe, with relation to entrepeneurs, but I think there are fundamental differences between business (and sports betting or poker) compared to casino games like
by phillc73 10y ago
Maybe, with relation to entrepeneurs, but I think there are fundamental differences between business (and sports betting or poker) compared to casino games like slots and roulette.
Regarding the former, hard work and study can affect the outcome. The latter are machine programmed and can't be beaten.
I don't know, but wouldn't be surprised if these two types of gambling attracted different types of people.
- Relys 10y agoMath is the difference. Casino games are a tax on people who can't do math.
- phillc73 10y agoPerhaps that is true for poker and sports betting (although I don't believe tertiary level mathematics is a pre-requisite), but you don't necessarily need to be good at maths to be successful in business. Dedication, vision, relationships and a whole host of other factors combine in successful business management, which can go a long way towards mitigating risk.
- ryandrake 10y agoMany things are negative-EV that do not have the stigma of casino gambling, but we don't ridicule participants' math skills. On average, start-up founders lose money. Are they all as ignorant of math as gamblers? In fact, I would guess that most human activity is negative-EV.
- tremon 10y agohard work and study can effect the outcome Affect
- LgWoodenBadger 10y agoOutcomes can be effected as well.