In Search of Factoids
by: Maggie Zine
It’s pretty interesting what people believe. For example, these are some
‘facts’ that I have heard lately.
“The more you gamble…the more you will win”.
“A lot of people pay for their trips to Las Vegas by their gambling winnings”.
“My friend’s dad has won the lottery 15 times”.
To assist all of our fine readers to get to at least the $200 probability
question on Who Wants to be a Millionaire, please read on………
This is the correct statement…. “The more you gamble… the more you will LOSE”.
For the finer points of this factoid look at the mathematical formula of
‘Gamblers Ruin’ at math.ucsd.edu/~anistat/gamblers_ruin2.html
Have you seen pictures of Las Vegas lately??? It is not suffering from lack of
cash flow. Does that mean the gaming industry is giving away more money to
gamblers than it is taking in? Not.
To put this statement into perspective, your friend’s dad has about the same
chance of winning the lottery 15 times as he has to be struck by lightening 105
That’s my story and I’m stickin’ to it.
Send me some questions and stuff