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"Casino is entertainment for which you pay a probabilistic fee proportionate to your spend". Ok, a bit of a stretch, I personally think. I honestly think that people gamble on things like slots because they don't have an educated sense of probability. I'm not sure the transaction is quite as clean as buying a cinema ticket and trading cash for entertainment.

"These guys were right to do it". I think the edge exists because it's ultimately illegal. I think it's tantamount to an illegal distribution of cash from a casino to a mob. Would it be any different if they hacked their bank account?




> I honestly think that people gamble on things like slots because they don't have an educated sense of probability

I once became an investor on a BitCoin gambling site. The operator let you either gamble, the normal route, or invest and receive a share of the payout. He was extremely clear about the house edge.

I went into the chat room and asked people: why do you gamble if you know the odds are against you. The most canonical answer I received:

"Maybe I believe my luck has an edge on the house"




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