Tag: casino

This life lesson relates to my previous blog #26 Gamble in Las Vegas. The word gambling is defined as the activity or practice of playing at a game of chance for money or other stakes. What is the most important word in this sentence? Chance. The word chance is defined as a possibility or probability of anything happening. Possibility cannot be quantified but probability can. The probability of an event happening in a casino (The House) is called the House Edge. In simple terms, the House Edge is the mathematical advantage that a game has over an individual, over a long term. The higher the House Edge, the higher the probability that the House will take your money over a long period of play. In short, gambling involves using your…