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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 163.32+2.3%Nov 21 9:30 AM EST

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To: Whatnot who wrote (128757)5/7/2003 9:46:33 PM
From: Wyätt Gwyön  Read Replies (2) of 152472
 
And if you believe for one second that anyone can beat the odds on Las Vegas for any extended period of time

supposedly he played video poker. and unlike slots which have payouts of 90-95% and thus virtually guarantee a loss to the customer if played long enough, supposedly some video poker machines have a theoretical payout greater than 100%. this means that it is possible to actually make money, or at least break even, on these machines, theoretically.

what that means is that you must play a perfect hand, each and every hand. since this is highly unlikely (and if you could do this, you would perhaps do better against human opponents who are prone to error), the effective payout is reduced to 95-98%. still a bit better than slots but a losing proposition over the long run.

didn't he also say he'd stop gambling in the wake of all this hooplah? that pretty much shows he knew it was highly hypocritical. which means that in addition to being a hypocrit, he was pretty cynical.
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