My colleagues like betting on horses and they call me a "gambler"
#EnoughSaid
every knows at work that I play a looooot of poker. But at every opportunity I get I have this catch phrase:
"sorry mate, I don't gamble"
Originally posted by thazar
Originally posted by SPeedFANat1c
...While with insurnace, I can drive less carefully, just be sure not to hurt people in the traffic.
Is this +EV?
mathatically no, but its good when you can be calm and not afraid to hit car. Unless speed is big, then of course you have to be very carefull
Work with analogies. Make them progressively more complex as you see fit.
If I offer you a coin flip where you win $10 on Heads, would you take it? You dont have to pay anything. Would you pay $1 for it? $2? Usually at $3-$5 people say now. You can work to EV here.
Did you ever get a tip for a stock that might go hot? And then the stock dropped? Well, in poker I try to spot weak players, but sometimes I still lose. This brings the bridge to investment.
There is other easy to understand thought experiments that lead into explaining poker. But don't deny that poker is gambling. It totally is.