No, not necessarily. When we receive absolutely no response, then we are talking to ourselves. Speaking but not speaking. God could be the facility or capacity to thus comfort, etc, ourselves. Just one possible interpretation.Originally Posted by jbjb
Thems some strong drugs you're on!Originally Posted by OneHitWonderGod speaks by not speaking. The one voice that can't be shut out.Originally Posted by MisterV
If you invest money on some piece of furniture on which to throw dice or on a fancy pinball machine, and you realize the investment will be returned to you manifold because greater fools can be convinced it's "recreation" or "classy entertainment" and not a piece of furniture or a pinball game, seems to me The Greater Fool Theory is in effect for casinos vis-a-vis non-APs.
The crickets are deafening...Originally Posted by jbjbI make money casinos because of POSITIVE EV.Originally Posted by Alan Mendelson
Would you like to tell us how much money you've LOST in your career from NEGATIVE EV?? I'm certain it's over 7 figures!
I'm not alan, but I've kept detailed records of my gambling wins and losses since 2003; currently I am down $45,386.00.Originally Posted by jbjb
Averaged out over 14 years, that's an average of $3241 per year, or $270 per month.
A price well worth paying for the pleasure / stimulation gambling has provided me.
Being an AP would simply involve too much "work," it would remove the "fun" component from gambling, at least I think it would for me: relying solely on gambling income could make for anxious moments, especially during a bad losing streak.
Life is short; work hard, gamble hard, but whatever you do keep yourself in check and under control.
What, Me Worry?
Sounds more like a drowning swan song than a dynamic or passionate report of something one has been involved with since 2003.Originally Posted by MisterV
Organized gambling is dying a rather fast and quiet death. One is left to wonder what role the internet played. Before the internet, though, the "rich and famous" had already lost interest. Perhaps, because the casinos catered more to the the modern industrialized masses by "dumbing down" and "franchising" themselves.
No one has to be an AP to develop a sentient sense of gambling; nor an SP to seriously toy around with the impossible, and hang out on the gambling forums. So much to observe, and, yes, learn and apply to other areas of interest. Especially, how seemingly otherwise-intelligent people become so wrapped up in hanging out at casinos, and then talking about it. Hey, if you can't earn a decent wage at a decent hour, then don't waste your "short life" there. And, if you can, then find something in the real world. By all means, go check it out. Have your "fun", and then get the heck out. See how far the human race will go to fleece itself.
Life isn't short when lived well. It's enough. Sometimes, the better paths lead nowhere, and the lesser ones to victory. But some paths are just non-starters. Don't dig deeper on a non-starter. You might begin to convince yourself it's a winner.
Gambling has been around since civilization arose, and probably earlier than that.
Is it some form of instinct, hard-wired into us over the years, to seek out and revel in risks?
Without taking great risks civilizations cannot expand and flourish; is it somewhat of an imperative in all civilizations for its members to gamble, to risk it all on the chance of a big win?
The Portugese, Spanish and English explorers risked life, limb and fortune on a chance to pull a big prize out of the unknown.
People who start a new business are gambling that it will succeed.
Lovers who commit to each other gamble that it will last.
It's fine for cynics to question the value of gambling; It's been said that an unexamined life is not worth living.
Ain't no big thing: it just is what it is.
Last edited by MisterV; 12-06-2017 at 08:55 PM.
What, Me Worry?
Eh, for me and I assume most APs, it's the opposite. I don't want to play a game where I'm practically guaranteed to lose, or in better words: a game where I'm not expected to win.Originally Posted by MisterVI'm not alan, but I've kept detailed records of my gambling wins and losses since 2003; currently I am down $45,386.00.Originally Posted by jbjb
Averaged out over 14 years, that's an average of $3241 per year, or $270 per month.
A price well worth paying for the pleasure / stimulation gambling has provided me.
Being an AP would simply involve too much "work," it would remove the "fun" component from gambling, at least I think it would for me: relying solely on gambling income could make for anxious moments, especially during a bad losing streak.
Life is short; work hard, gamble hard, but whatever you do keep yourself in check and under control.
I'm not going to play a sport or a video game where I'm already behind going into it. If I can practice and get better so I have a greater chance to win, then I'll play. Playing a losing game isn't much fun, IMO.
The thrill of gambling is that you have a chance to win, right? Well, if you do the math, it's easy to see the more you play (a -EV game), the more likely you are to be behind. That's not really something I'd want to do. If I'm a chess player and I study & practice, then the more I play, the better I'll get. With gambling (in -EV games) it's the exact opposite.
I don't have a problem with people who gamble recreationally, just don't pretend to know what you're talking about when all you do is spit out horseshit (ie: Alan & Stringer). I know that most people who gamble do it for entertainment, which I kinda agree with, as long as it's not very often (since the more you gambler -> less likely to win). But gambling every week doesn't sound all that entertaining to me; every few months, sure.
Unfortunately for you very wise gamblers who believe you have an edge and bet accordingly, you are following the Greater Fool Theory of economics... just as investors in rare coins, stamps, art and even bitcoin follow the Greater Fool Theory.
You are taking your real dollars and putting them on a table or into a slot figuring you will profit. While at the same time someone (a casino) is offering that opportunity to you because it thinks you will lose. The Greater Fool takes the bet.
It is the same, for example, with art. There is a buyer who will give up his real dollars for a chance at,a profit while the seller is looking for a Greater Fool to relieve him of his risk.
Not all fools lose, however. Some profit in numismatics or art or philately.
But unlike the investor in art, coins and stamps, the gambler is the last rung on the ladder and there is no other fool to relieve him of his burden UNLESS he sells shares in his action mucH like some poker players do.
Instead of making things up, why don't you read what the Greater Fool Theory is?Originally Posted by redietz
Yes, without some form of offence, and with only defence, it's impossible to just survive.Originally Posted by MisterV
The Wizard put out a new sort of gambling forum, but ended up circling the wagons. His way or the highway. All hail the Wizard at all cost. People left. The world's greatest gambler who doesn't actually gamble, not even on free speech.
Good whiff. I know exactly what The Greater Fool Theory is, and it's applicable just as I wrote. Some idiot invests in furniture on which to throw dice. The only way he profits is if a greater idiot perceives the piece of furniture as recreation and the original buyer can rent out throws on his furniture to The Greater Fool.Originally Posted by Alan MendelsonInstead of making things up, why don't you read what the Greater Fool Theory is?Originally Posted by redietz
What, some people think they're the only ones to take an economics course or buy stock. Talk about arrogance.
The Greater Fool Theory calls into question whether anything has "intrinsic value," which is a damn good topic in anthropology courses as well, because it addresses the relativity/subjectivity of non-material resources as well as the material.
Some people, for whatever reasons, want to keep jamming stock market theories and jargon into the milieu of gambling. The two milieus are completely, utterly different when it comes to casino games that are solved. The stock market is an open system with variables affecting it that are not part of the system and are not completely predictable. Most casino games are completely closed systems that have been solved. The math is evident. Stock market jargon and blather simply do not apply.
Last edited by redietz; 12-07-2017 at 09:11 AM.
Sorry your defense sucks, redietz. That's not the Greater Fool Theory. Just google it.
Maybe, the two meet somewhere down the middle. Casino stocks, eg. Or an AP's stock-in-trade in the promotional or whimsical side bets that come, and go after someone figures an advantage. These are expectations on other levels. But, sometimes, the more-closed systems are more-open. Stud poker, especially seven-card, is a harder game to master than draw poker because of the up-cards. More information means much more to process into a winning strategy in real time. (Too much left to chance there, too, though in a different way from draw poker, in which no cards are exposed, and no one really knows who has a monster hand until on the end. You don't want your opponent to have a hand too close, or far, from yours. No action if too far, and too much if too close?)Originally Posted by redietz
No, no thing has intrinsic value. We don't actually own any thing in the sense that it will always have our name on it. And, we all die. The unit of mass, itself, isn't so well or intuitively laid out as those of space and time. We all have our place and time, as that is what defines us. There are different spatial and temporal fields. One mile an hour is just that, one mile an hour. Whereas, one pound, or kilogram is what exactly? So many atoms of a particular type? Yes, but what gives any type of atom its mass or stuff? A stone of a given mass in our gravitational field will weigh different in an other, though it will always span the same space or distance, eg. Its mass, itself, isn't quite so differentiated.
Try again. The Greater Fool Theory doesn't apply exclusively to commodities. Google it yourself.Originally Posted by Alan Mendelson
Why don't you bring up the package or the 18 yos? This is usually how these discussions end.
From what I found, Greater Fool Theory is basically when you buy something and have the expectation to sell it later at an increased price, to a "greater fool".
Why Alan thinks this can be used as a knock against APs, I have no idea.
The Wiz just did, dude: it's your legacy.Originally Posted by Alan Mendelson
In a thread which discussed possibly allowing the damned to return, he wrote: "The chances of a pardon for all banned members is about the same as rolling 18 yo's in a row in craps."
Alan appears to be somewhat of a laughingstock on some gambling forums, the poster child for bullshitting.
Last edited by MisterV; 12-07-2017 at 05:11 PM.
What, Me Worry?
A short-lived pimple on Trump's ass.Originally Posted by MisterV
P.S. Come to think of it, Shacky is the puss.
Last edited by OneHitWonder; 12-07-2017 at 06:22 PM.
It's not a knock against APs. It's an explanation of what APs are doing. They are adding a value to a bet just as the coin collector adds value to a coin.Originally Posted by RS__
I supposed you think the casino doesn't add a value to a bet then either.Originally Posted by Alan MendelsonIt's not a knock against APs. It's an explanation of what APs are doing. They are adding a value to a bet just as the coin collector adds value to a coin.Originally Posted by RS__
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