Sorry i’m the boring guy. It is (more than) 20 times more probable to lose 100% than to win 2000% in most gambling.
You're basically losing money if you don't
Submitted 8 months ago by The_Picard_Maneuver@startrek.website to [deleted]
https://startrek.website/pictrs/image/b8d4879f-7016-4a07-84db-d215f4fc6d3f.jpeg
Comments
Kruemel@feddit.de 8 months ago
ifGoingToCrashDont@lemmy.world 8 months ago
Actually it’s 50%. Either you win or you don’t: 50%.
/s
The_Picard_Maneuver@startrek.website 8 months ago
You’re going to get us kicked out of the casino!
byroon@lemmy.world 8 months ago
That’s just what the casinos want you to think. They don’t want you taking their money!
son_named_bort@lemmy.world 8 months ago
And if you lost 100% of your money last time, then you’re due to win 2000% this time.
gravitas_deficiency@sh.itjust.works 8 months ago
simultaneously laughs and sobs in leveraged investments
Blackmist@feddit.uk 8 months ago
Leveraged “investments”.
pipe01@lemmy.pipe01.net 8 months ago
Why stop at 2000%
Ddhuud@lemmy.world 8 months ago
There’s this thing, called debt tho…
v3x@lemm.ee 8 months ago
not if you gamble for long enough
statistically the longer you gamble, the higher the chance that you’ll win and make your money back, it’s math bro
ByteWizard@lemm.ee 8 months ago
Lottery and gambling are taxes on emotionally weak people who can’t do math.
ladicius@lemmy.world 8 months ago
Lotteries unique selling point is hope.
ScrotusMaximus@lemmy.ninja 8 months ago
Isn’t it telling that our society has to gamble on hope because there is a perception of no other chance?
ByteWizard@lemm.ee 8 months ago
Sure, but the hope is a result of the first two issues.
They can’t do the math so they think there is a chance. And because they WANT there to be a chance they ignore every time they lose.
Ddhuud@lemmy.world 8 months ago
They know, that’s their target audience. Desperate people.
Blackmist@feddit.uk 8 months ago
Ah, my bread and butter… Thrill-seeking rich folk with a poor grasp of statistics and probability.
Manny Calavera, travel agent.
thepianistfroggollum@lemmynsfw.com 8 months ago
There’s theoretically no upper limit of how much you can increase your money.
I mean, at a certain point you’ll end up devaluating the currency to the point that the economy collapses, but that’s a later problem.
krakenx@lemmy.world 8 months ago
Don’t forget that you lose 3% to inflation every year, and even more when we are in hyper-inflation like we are now.
Gambling in Wall Street’s Casino is, by design, the only way to have a chance not to lose money.
CyberCatBytes@kbin.social 8 months ago
So true
GCostanzaStepOnMe@feddit.de 8 months ago
It’s fifty fifty. Either you win money, or you don’t.
anolemmi@lemmi.social 8 months ago
Just got two Powerball tix for tonight, thanks! Since one ticket is 50%, two should basically guarantee I win!
Gonna go kick my boss in the balls and walk out, should be fine, right? Probably.
Gigan@lemmy.world 8 months ago
two tickets actually lowers your odds
50% x 50% = 25%
son_named_bort@lemmy.world 8 months ago
I see no flaws here.
Karyoplasma@discuss.tchncs.de 8 months ago
Correct. Do it like Homer and use you boss’s head as bongos.
Honytawk@lemmy.zip 8 months ago
That would imply the one organising the gambling isn’t taking a cut.
GCostanzaStepOnMe@feddit.de 8 months ago
Nah you’re wrong