3 ms·
Basically every gambler is an excellent example of that principle, though I have also not seen the research.
by boomboomsubban 6y ago
Basically every gambler is an excellent example of that principle, though I have also not seen the research.
- _Microft 6y agoThis might be a counter-example: the American Physical Society held a spring meeting in a casino in 1986 and it turned out to be the worst week that the casino had until then. Why? The physicists just did not play. http://physicsbuzz.physicscentral.com/2015/09/one-winning-move.html http://physicsbuzz.physicscentral.com/2015/09/one-winning-mo...
- boomboomsubban 6y agoThey would also have ample experience with chance that could overrule their intellectual knowledge.
- wombatmobile 6y agoTreatment for problem gamblers uses mathematics to prove they cannot beat system https://www.abc.net.au/news/2014-11-30/new-approach-to-treating-problem-gamblers-uses-mathematics/5928796?nw=0 https://www.abc.net.au/news/2014-11-30/new-approach-to-treat...
- imtringued 6y agoOkay now that we got the intellectual argument out of the way. Let's talk about the actual experience of gamblers: You're not playing against the house. You're playing against the other gamblers. This is highly prominent in Poker where you try to beat other players. Some gamblers told me about their weird theories about which machine will give them the fattest payouts because they analyzed which machines have been used the most and how to minimize the opportunity cost of their current wager by taking advantage of free services provided by the casino. They clearly aren't in it to stick it to the house. They are trying to outcompete other gamblers with their strategies even with a slot machine.