The Gambling Gene - how to measure entertainment costs

The Gambling Gene - how to measure entertainment costs

RTE had an interesting program the other night called The Gambling Gene. It looked like the Irish people liked an effort to see if we were more likely to bet than our European neighbors. Overall I thought it was quite balanced. The presenter Joe O Shea looked at both the problem side of games, but also acknowledged that gaming gives entertainment to so many. If you have not seen it, check it out at RTE Player.

Most of whom I feel like a bet will recognize that they will eventually lose. They can strive to turn from losing points to a winning, or they can hope for the big win, which will cancel all of their losses and more. Both of these may happen, but in reality, most of them bet, to end up losing. Why do they bet? It is easy. Games provide entertainment and should be treated as a cost, the same as going to the movies. We know the cost of going to the movies but how much does it cost us to play?

Because luck plays such a short amount of betting, it can be difficult to spend a fee on it. If we go to the cinema we know the cost of the ticket, popcorn but in games we can win 100 Euro a week and lose 120 Euro next, lose 400 Euro a month but win 350 Euro next. If you keep records of all your games, after a period of one year, you have a rough but not accurate measure of the cost. Most fun players do not want to worry about putting up every penny they have invested. Where is it fun in it?

Rather than the time-consuming process of posting everything for a long time, why not use any means to determine the entertainment cost of gaming. If you have an idea of the sport, your betting bet and do not bet on any crazy overruns, than I suggest a 10 percent loss on the investment would be about right for most. It may be slightly higher if you bet at great prices with bookmakers, but you should place these games on Bet fair or Betdaq for better prices anyway.

So about 10 percent is a reasonable estimate of most points, how does it help us to measure the entertainment cost of each bet? It is quite simple indeed. If your bet of 10 Euro costs 10 percent of it, which is 1 Euro, and if your bet is 100 Dollars, the entertainment cost of the 10 Euro bet is. yes sometimes you win and sometimes you will lose, but overall your losses will be compared to about 10 percent of what you play. Some people will do better, especially if their reasonably selective, while punters who bet on two flies will come up a wall, are likely to lose more.

Your average points may probably pay 50 - 100 Euro on a weekend. So his entertainment cost would be 5 Euro to 10 Euro per week at stake. A trip to the cinema with his girlfriend will bring him back more than that. This is true vice versa for girls, before I get any sexist charges! The 100 euro a weekend spinner can still lose all of their bets for a few consecutive weeks so even if it only costs them 10 euros a week long, you must ensure that you can afford to lose the whole bet every time you bet.

In the Betting Discipline - Fun Games and the Inevitable Losing Runes, I say you should not have fun games if you want to win money. You should not, or at least you should not count them as part of your normal games that you treat as a profession. You should count them as an entertainment cost just like you would have a nice meal with your loved one. I have fun games. I obviously think Pod will win another big, I like to oppose Andy Murray in the Grand Slam finals, and I have been known to have an interest bet on the competitions while having some friends with friends.

Once you have made sure you can afford to lose, the money you play with is no need to use the 10 percent number to determine if the entertainment is worth it. Would you prefer a 10-bottle bottle of wine or a 100 Euro bet spread over the matches on a Saturday? Will high and low, the thrill when you win, despair, when your team sends a late equalizer, compensate for you missing the bottle of wine? Too many come, and society should not frown on us to get fired by having what. After all, players do not play to weaken people who spend money on flowers, but we all know who is wasting their money now, right?

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