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Thursday, October 8, 2009

Folly of Gambling

I just came back from Genting Highlands a few hours ago after a 2-day-1-night trip with my coursemates after our exams ended on Monday. I really had a great time, the weather and the excitement of the outdoor theme park was just amazing. I'll update this trip next time.

Well, the main point here now is any adult who goes to Genting Highlands will definitely go into the casino. I was no different and was in the casino, not gambling but watching (no money to even spend for myself, how to gamble money away?).

Now, most of the people who gamble at the casino are looking for entertainment or winning money (winning money isn't impossible but you need a lot of good luck and self-control to do it). Other than that, I just can't think of any other reasons why someone would gamble

So, if you're looking for entertainment, would it be all right if you gamble? The answer is of course a YES, but then again how would losing money affect you? The whole objective of entertainment is to de-stress. But if you lose money and you feel even more stressed out, wouldn't it be counter-productive to gamble? You'll feel more stressed out after the so-called 'entertainment' than before the entertainment. Unless you won't lose any sleep from the losses at the casino, why gamble in the first place?

I believe most of us have learnt probabilities in high school (unless you're a high-school dropout or you don't study Mathematics at all *only limited to Malaysians*). If you analyse all the payouts and the probabilities of winning at every casino, the expected returns for the long run is less than your original capital. This means that if you play 1000 games of roulette and all the results turn out according to its expected probabilities, then you'll certainly lose money (how else could Genting have grown into such a big conglomerate if it wasn't because of this?). So, if your objective of gambling is to win money, then why gamble when you're more likely to lose your capital than winning money?

Such is the folly of humans that act according to their emotions that bends logic. Many times (not all times), the emotional thought will do us more bad than good (there are times that being emotional does more good than being rational). As for me, I'd be much happier being rational than emotional =D

6 comments:

Anonymous said...

Haha, finally u updated your blog... lol... Genting trip huh, did you try space shot? haha...

well, casino, my mom told me, she saw many youngster in casino gamble, lose 10k USD in one night... they just dont care, continue, they want to win...lol...oya, next year i am 21, lets go to casino sama sama!!! lol

-simyi-

LexLex said...

LOL... i tried space shot, not once but twice :P very exciting if your heart can take it. hehe...

i don't know why but it sounds stupid to me to gamble away so much money. the money can be done to do other things. anyway, if there are no such people, we probably won't know lim goh tong :P

Nycklez said...

one thing,
80% of genting profit come from entertainment, 20% would be from the casino.

but you are right. gamblers realyl need to control themselves.

since 21, my genting trip always get sponsored by genting haha.

LexLex said...

LOL... doesn't casino revenues count as entertainment? I don't know whether casino is considered entertainment, so it's a bit hard for me to judge from this angle. How much did you donate to Uncle Lim so far? XD

Anonymous said...

haha, u are right... space shot will only be exciting if heart can take it... unfortunately my heart not that good, i cant take it... lol... no la... i scared of height... hehe... so next time we go genting sama sama i see u play space shot la... lol

-simyi-

LexLex said...

cannot you watch only la.. if like that not fair de leh...