To Ghulam Muhammed, Mumbai

Submitted by LeaNder (Germany), Apr 2, 2006 at 11:32

It's slightly off topic but I like your little story a lot. Besides congratulation you have understood the basic rules of gambling really early:

I once studied a gambler, working as his secretary in the casino twice. My job was to note the series of numbers on the other tables. Gamblers are hunting luck. They are enamored with luck. This basic flaw kept him in the vicious circle you describe.

Later I found out he worked as a police informer to get his starting capital. Then slowly building up the "brick" as he called the bundle of notes in his pocket. When he had reached a certain capital basis he went to the casino. There slowly building up his capital. Usually using simple chances "pair - impair" - "rouge - noir". It all worked fine for two or three days. Then the lucky streak ended. At that time on both occasion he had amassed about 100.000 - 150.000 $.

Instead of stopping and enjoying what he had won, he now changed his strategy, taking ever higher risks to get back what he had lost. Of cause he did not win anymore. But instead lost more and more very fast. In fact he lost all he had amassed over several weeks in a couple of hours.

To get back to our topic: Of cause I can see a couple of problems in the game theory approach, but I still love it a lot more than any strictly dualistic approach, along well established war strategies.

LeaNder, Cologne, Germany

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