The gambler as entepreneur

[VLS]

The gambler as entepreneur:

link:://roulette8.blogspot.com/search/label/Discussions%20with%20Kavouras

Good debate with Kavouras.

Excellent for the grambling framework section.

[VLS]

Not everyone can win, but those that won know for sure why they did.

One must then analyze why most players lose and not do the same mistakes (i.e. errors like betting the house on a method that is currently not delivering).

The thin minority that goes ahead of the game has those few different bets worked out, NOT doing the same as the rest of gamblers do is a hint on the road to match what they do.

Regards.

[XXVV]

This is a brilliant topic and the references and discussions via the link are superb. I am sorry this was overlooked by me ( and others) for some length of time and I would like to continue to add some thoughts to this thread and extend the ideas, and even suggest some procedures and framework plans.

It is a massive subject but first step I would say is truly how accurate the analogy with business is, although I would like to adjust the current title block which to me reads more like ' the gambler as property developer ' - where in many cases ( some would say most) the inevitable catastrophic failure of the house of cards carries many, including many banks, with it, to national and international dismay.

The term 'entrepreneur' is a brilliant positive term without the negative connotations of 'property developer' although some would like to call themselves entrepreneurs - the best are of course ( and I can think of a few although their television careers may help the cashflow).

Another term could be "Roulette Entrepreneur" - and this is in the best sense not the prickly subject of misleading others.

Likewise 'gambler' has connotations which are not positive and perhaps we could replace that with 'serious' or 'dedicated' roulette player, if not semi professional or full professional. As long as we keep a sense of humour with us that is a good thermometer of financial and general health.

More on all of this very soon. Very grateful for the original post thanks Victor!

Best
XX V V

[Carlitos]

....it seems intresting...... especialy the Kavouras bet.....





Carlitos 

[flukey luke]

It is funny how you can look at things differently. The word 'entepreneur' conjures up images of a smart person who can spot an opportunity to turnover a profit.
Let's say you were offered 100 christmas trees at 5 euros each and you knew everywhere was selling them for 15 euros. You would be hard pressed not to make some profit there.
Now let's say the casino offer you 100 bets on black at 5 euros each. Personally, I would say the casino is the enteprenuer here 99% of the time. You would be lucky to find 1% of casino gamblers who are smart enough with some kind of edge who could rightly call themself a 'roulette entepreneur'. I am all for positive thinking, however, without any substance behind it, it is all just bluster + bravado.
To add to that, I would think that the word 'entepreneur' means many different things to many different people. To a gambler, it could mean not having to work very hard and thinking that money is easy to come by. To a hard working grafter, it may mean putting in 18 hours a day doing whatever it takes to earn a living.
That leaves me to conclude that we should be careful sometimes with the words that we band about when discussing gambling.

[XXVV]

Lets be clear.

First spelling : it is Entrepreneur - and by definition "by risk and initiative one who attempts to make profit, who undertakes an enterprise".
Gambler - by definition "one who risks or bets on the outcome of an event -and one who undertakes a risky act or venture".

Shades of meaning change in context, societies, cultures and also in time.

Entrepreneur is a term in commerce highly respected. Gambler is a term often devalued in connotation, as there is an implicit undertone of anticipation of regular loss, which may impact negatively on the lives of others.

How we use and select words and what we say ( and thus express our most frequent thinking patterns) and how we combine them, is a powerful 'statement' of the way we see the world and our place in it. Words are much more powerful tools than many realise, and an empty bluster is to a shrewd business person, just that, a waste of space. The best choose their words carefully and live their words.

Indeed, it may only be a very small percentage of casino patrons, who regularly, consistently, convert opportunity into profit.

Would you not want to be one of them.

I do.

XX V V

[Fripper]

The thing I find is most interesting is two threads in the roulette30 forum. The member Belgian have written something that is worth reading. I like it alot. Anyone that have some thought about this?

[Carlitos]

.................. Fripper do you have the link to this Belgium member post?




Carlitos

[XXVV]

refer link at top of page and refer forum - brilliant post by belgian
xxvv

[Bayes]

Wow, that was a blast from the past. When I started reading those forum posts I thought they seemed familiar, then I realised they were taken from a thread at the old VIP forum (Mr J might remember). The names have been changed; "Belgian" was a guy called Perkin, "lazarous" I'm pretty sure was Voila, "ttt" was definitely Talesman, and "UK" was yours truly!

A bit odd that kav has done this...  

Anyway, as I remember, the thread was a long running one and popular. Perkin devised a VERY extended labby to cope with the worst case scenario of only 65 wins in 200 spins. He never gave full  details of it, but reported that it did work, and that he made consistent profits with it.

[XXVV]

Thank you. That is fascinating and weird - well worth a replay and can it be extended to the present....
XXVV

[Fripper]

Ok bayes.

So, atleast I find it interesting. But I don't know if we can get a method out of it.

I assume that Belgian was correct? That in 200 spins, there will be no less than 65 reds and 135 blacks, or the other way around. He had checked 20 miljon spins..

This is an interesting idea tho.

[Big EZ]

That was indeed a very interesting article.   And it got me thinking.  If I am wrong then someone please correct me.

What determines spin 1? Can a rolling count be taken here?

Now, if after 2million spins he is saying that there will never be a greater than 65/200 break down for the R/B tell me if this would be feasible.

If a rolling count is in fact acceptable then why is it not possible to track 200 spins (on paper or whatever way you like) and then always keep taking away the first say 10-15spins and keeping a rolling count to see if this 65/200 breakdown will be showing in the last 10-15 spins of your 200 spin sequence.

Does this make sense? Or is it not being applied correctly to what he is saying

[Kav]

Hello.

First of all, I want to thank you all for your interest in our site.

As for the specific forum thread...   there's more to come 

But as we started talking about the Gambler as Entrepreneur, you may find interesting our new article about the

Warm regards.

[esoito]

Hello.

First of all, I want to thank you all for your interest in our site.

As for the specific forum thread...   there's more to come 



Nice one, Kav. A good read. I thought it was very well-argued.

A ponder point: does either roulette or trading contribute to the betterment of humankind?
If yes, then to what extent? (Hmmm...maybe a future article for you?)


Warm regards.