The Wise Gambler
“If you’re 70% sure, go for it.”
— Richard Reed
Most people are averse to gambling. Which is also why most never make any money.
The truth is, when you gamble in a casino, the house is gambling with you. It’s just the odds are in their favour.
In European roulette, the only thing that tips the odds in the house’s favour is that little green zero.
One number out of 37. This is all it takes for the house to make on average £2.70 for every £100 gambled.
Of course the actual amount can deviate massively. It is very conceivable that a punter could place £1000 on the green zero and cost the house £37,000.
But this doesn’t matter, because all it takes is that little green zero to help the house to win over the long term.
No one is saying the house will always win. Or that to be the house is risk free. But you cannot deny the obvious success of gambling establishments worldwide.
Now what if there was such a thing as a roulette table where 70% of the numbers were red? You’d be foolish not to gamble.
That’s all business is.