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Politics : Ask Michael Burke

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To: Zach E. who wrote (83030)	8/17/2000 12:54:04 AM
From: Skeeter Bug	Read Replies (1) of 132070

>>And as Carl pointed out, the gambler would probably get escorted out before he actually got the deed to the casino <g>.<< it is exactly this type of error prone thinking that causes customers to shell over billions each year to build and support all the "grandeur" that is las vegas (lost wages). what is the marginal difference between a guy who successfully doubled down $1 on black 12 times and a guy who walks up to the table for the first time and bets $4096? if the casino will accept one bet then they will accept the other. you see, it is marginal cost / benefit that matters to proper, rational decision making, not sunk cost or benefit. nothing is different. the odds are still 49% (+ or -). casinos give out free rooms, food and, i have heard, hookers (deuce bigalo? ;-) to the big winners precisely b/c they want the high rollers and big winners to stay inside their casino. you see, they KNOW they will win it back over time. the long run odds do not lie. customers can think they can walk out with the casino's deed... how many customers have done this? ;-)

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