🎰 Good gambles
|Mike Dariano||Jun 15|
Gamble. Bet. Wager. In Las Vegas each is a zero sum exchange. There’s a winner, a loser, and maybe a ticket to the lunch buffet. Gambling also has a sense of immorality. Add to that that we feel losses more gains.
We rarely speak of ‘gambles’ beneficially.
However, there are good gambles, and these always balance three things: the price, the payout, and the punishment.
Most of life’s gambles have a small price with a high payout if things go well. Talking to a stranger is a small gamble with big upside as you could meet a friend, spouse, or pickleball doubles partner. Buying a house is a medium gamble, as the price is high and the appreciation in payout is questionable. Both conversations and homes have minor punishments.
The worst gambles have permanent punishment of the most valuable things: relationships, peoples, life-savings.
Good gamblers know this and good gamblers hunt for low price, high payment, and low punishment. Gambling isn’t bad, but that gambling done badly is.