Mickey wrote:
>--- In vpFREE@yahoogroups.com, "mike" wrote:
>> >
>> > "Ultimately it's not how good or bad the bet is it's whether you win or lose."
>>
>>
>Perhaps there are some people out there that can be convinced of this. Maybe you could contact some casino executives and explain it them....and maybe you could convince them to give up their mathematical advantages. Like blackjack. How about convincing them to pay 4 to 2 on Blackjack. And maybe you could convince them to pay 37 for 1 for rolling boxcars on the craps table. Or paying 39 for 1 on the roulette wheel.
>
>If you can convince even one casino exec to make those changes, I guarantee you they will see a massive spike in business. And I'll be in that thundering herd of gamblers ready to get my butt kicked. Because, like you said, it's not how good or bad the bet is, it's whether you win or lose.
I think this misunderstands the famous saying that Mike just invented.
He's not saying that expected value doesn't matter. As a
"philosophy," I think it's called pragmatism. If there's a point to
it, maybe it's that it replaces "coulda, woulda, shoulda" with "did."
It's irrelevant, not wrong, similar to Yogi-Berra-isms.
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