The Sisyphean Gambler

[arcimede$]

First of all, I am glad you concede that video poker is not like flipping a coin, and I really question whether the "edge" is 0.5%.

In many ways VP and flipping a coin are EXACTLY alike. The differences are actually pretty minor.

Second, even if there is an edge of 0.5 percent you'd be better off putting your money into a money market fund or government insured bond or bank CD than putting it at risk in video poker.

Nope, I explained this to you in the past. The .5% is not a yearly APR. It applies every time you put your bankroll through the machines. A pro does this every couple of weeks. Hence, a .5% edge comes out similar to a 13% APR.

Third, you raised the issue of risk of ruin, but you ignore it.

You also ignore the value of quitting with a profit --any profit -- instead of continuing to gamble and losing your profit and ending up with a loss.

Once again your assume you will lose the profit if you continue to play and do better on your next trip. That is nonsense. There is no reason to believe you won't do better if you keep playing then when you return in the future. They are both equally likely.

I think it is time for you to finally consider -- and this is something that Arc still doesn't consider -- the positives that quitting with a profit -- ANY PROFIT -- presents. Even when you leave the casino with a gain of one dollar you won't have to drive home looking at a dumb schmuck in the rear view mirror.

This is a memory issue. Alan remembers the times he lost after a big win while not remembering the times he continued to play and increased his wins. It's an emotional scar that influences his logic.