Tuesday, March 8, 2011

If I Won't Quit I Can't Win



My friend gave me $40 to gamble in a casino after his win from a jackpot terminal. I spent the first $20 and won. I have never played at casino before and have to say it can get addictive. There are those bright lights. There is also my feeling that maybe the next turn will make me win more.

The bright lights symbolize a lure any casino lays on anyone to visit and spend money. The lights never go off and daylight seems to go on forever. The buffet restaurant inside it offers cheap, good food. People - I think - figure why not go to casino and have a meal there. The money saved from the meal can be spent for gambling. Who knows maybe the saving can turn to a jackpot. I bet the reasoning is like that, pun intended.

The feeling that a win is just a game away is what keeps people coming back. I tasted my first ever win and wanted to get more. I know how easy it is, and it is exciting. The taste of winning makes me want play more. I get to know the odds, so I think.

I figure the odds are about 50-50 on a mechanical terminal game. Putting a $20 on a $5 game allows me to play 4 times. And the odds of winning once from the four games are very slim to even break even. I therefore decided to spread the risk by having at least 10 games. You see I thought I knew the odds could be tilted in my favor, if I was just smart enough. This feeling can become a reason to come back.

My friend, who gave me $40, has won a lot more several times before. It is possible to win more than once. He said he knew people who made a living from gambling, especially in Las Vegas. These guys are professional and they learn how to assess risks without emotion even when they play. They bet a lot and know when to quit by accepting losses. Some people can do this, but I suspect a lot more people cannot.

The question is thus whether I can control the urge to win a lot more than what I have. When I played the second $20, I lost. I concluded I had to quit if I wanted to win. Even with this knowledge, I kept playing until I lost $100. I still came out on top by a slim margin because I finally told myself to quit.

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