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| February 2006 | ||
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Gambling Tip of the Month
In roulette, if red comes up 10 times in a row, what are the chances the 11th roll will come up black? Tim F., FL The gambler's fallacy is the mistaken notion that the odds for something with a fixed probability increase or decrease depending upon recent occurrences. For example, if a tossed coin has turned up heads eight times in a row, the gambler believes that there is a reduced chance that it will be heads the next time. But in reality, the chance of it being heads is still 50 percent. This leads people to believe they are on a hot streak or a cold streak. They may also believe that a slot machine that has not paid off for a while is about to pay out big, or that certain numbers are more likely to be picked in the state lottery. "The Internet is full of people selling betting systems with promises of beating the casino at games of luck. Those who sell these systems are the present day equivalent of the 19th century snake oil salesmen. Under no circumstances should you waste one penny on any gambling system" www.thewizardofodds.com
Answer to "Gambling Trivia Question": A: The State of Nevada first legalized gambling in 1931, at the same time the Hoover Dam was being built. The federal government did not want its workers (who earned 50 cents an hour) to gamble, so they built the town of Boulder City to house the dam workers. To this day, Boulder City is the only city in Nevada where gambling is illegal.
Prosperity Partners, Inc.
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| © 2006 Prosperity Partners | |
Electronic newsletter design and publication by IlluminAge Communication Partners |
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