The sad thing about it is that log loss is optimal when gambling (mental shortcut - see Kelly Criterion). This partly explains why such a large proportion of pe

The sad thing about it is that log loss is optimal when gambling (mental shortcut - see Kelly Criterion). This partly explains why such a large proportion of people lose much more than they win. Not only the bets are suboptimal, the ruin is achieved earlier than necessary. Note that this applies also outside of a casino, gambling (making wagers with imperfect information) is inherent to life.