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> 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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