A casino “game of chance” is a scheme for transferring money from gamblers to the owners of the casino. Any short-term rearrangement of money between the gamblers is incidental to this process. In the long run, the flow of money is from the gamblers to the casino. The only socially useful purpose of a gambling scheme is to provide practice exercises in the study of probability. If more people studied probability, we'd have fewer casinos.
Last modified: 03 Oct 2010
Copyright © 2010 Jim Farmer
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