Gambling Luck Quotes

Ersken gathered the dice, put them in the cup they had used for play, and tucked it inside one bound Rat's shirt. "Let that be a lesson to you not to gamble," he told the Rat soberly. "The trickster asks you pay for any luck you may have, one way or another." "Bless the boy, he's a priest with it," one of the Goddess warriors said with a grin. "After this, laddie, what's say I take you home and rub some of that off yez?" Ersken actually winked at her! "Forgive me, gracious warrior, but my woman would turn me into something unnatural if I took you up on your kind offer," he replied as if he truly regretted it. "She's a mage and I'd best stay devoted.

Above all, he liked it that everything was one's own fault. There was only oneself to praise or blame. Luck was a servant and not a master. Luck had to be accepted with a shrug or taken advantage of up to the hilt. But it had to be understood and recognized for what it was and not confused with a faulty appreciation of the odds, for, at gambling, the deadly sin is to mistake bad play for bad luck. And luck in all its moods had to be loved and not feared

Never bring a lot of money to where a poor man lives. He can only lose what little he has. On the other hand it is mathematically possible that he might win whatever you bring with you. What you must do, with money and the poor, is never let them get too close to one another.

Another mistaken notion connected with the law of large numbers is the idea that an event is more or less likely to occur because it has or has not happened recently. The idea that the odds of an event with a fixed probability increase or decrease depending on recent occurrences of the event is called the gambler's fallacy. For example, if Kerrich landed, say, 44 heads in the first 100 tosses, the coin would not develop a bias towards the tails in order to catch up! That's what is at the root of such ideas as "her luck has run out" and "He is due." That does not happen. For what it's worth, a good streak doesn't jinx you, and a bad one, unfortunately , does not mean better luck is in store.

I don't wait for luck, I make my own.

Conventional wisdom nor scientific, mathematical prove of randomness in life could do nothing to deter human's curiosity for the unknown, however small the chance of a positive outcome maybe.

A gamble. Everything was a damn gamble. Betting against luck and the Fates, again and again, and again. She kept walking, waiting for the bullet.

It felt wrong for me to push Lady Luck to the side and for me to choose who ought to be 'lucky'. It didn't seem right. It wasn't fair.

Above all, he liked it that everything was one’s own fault. There was only oneself to praise or blame. Luck was a servant and not a master. Luck had to be accepted with a shrug or taken advantage of up to the hilt. But it had to be understood and recognized for what it was and not confused with a faulty appreciation of the odds, for, at gambling, the deadly sin is to mistake bad play for bad luck.

Above all, he liked it that everything was one's own fault. There was only oneself to praise or blame. Luck was a servant and not a master. Luck had to be accepted with a shrug or taken advantage of up to the hilt. But it had to be understood and recognized for what it was and not confused with a faulty appreciation of the odds, for, at gambling, the deadly sin is to mistake bad play for bad luck. And luck in all its moods had to be loved and not feared. Bond saw luck as a woman, to be softly wooed or brutally ravaged, never pandered to or pursued. But he was honest enough to admit that he had never yet been made to suffer by cards or by women. One day, and he accepted the fact, he would be brought to his knees by love or by luck. When that happened he knew that he too would be branded with the deadly question-mark he recognized so often in others, the promise to pay before you have lost: the acceptance of fallibility.

Gambling is throwing money away," Emily said. "Spending hundreds of dollars on clothes you'll never wear is throwing money away. Buying books is an investment in the future." "Emily's right," Nina said. "Where there are books, there's hope. I have stacks of novels I haven't gotten to yet. It's the best reason to go on living I can think of.

It's not luck - there's probably no such thing as luck, and if there is you can't depend on it. All you can do is play the percentages, play your best game, and when the critical bet comes - in every money game there is always a critical bet - you hold your stomach tight and you push hard. That's the clutch. And that's where your born loser loses

You gamble, you believe in luck. Like if you're swimming, you believe in water. Right?

As all true gamblers know, the moods of luck, whether bad or good, are as changeable as the winds.

Sitting there, it is impossible to change your luck. But, you can always change the machine you are at!

The human mind has a tendency to observe unsystematic events and assign a pattern to the results. A habitual risk-taker reorganizes the stream of random events and retrospectively attributes the outcome of indiscriminate trials to their own gambling “strategies.” We often hear people say that they are lucky or unlucky, when in actuality they can claim no ownership in the occurrence of chaotic outcomes. A false sense of the existence of luck can cause people to discount the value of their actual effort, skill, and training.

. . . bush-league sex compared to L.A.; pasties here —total naked public humping in L.A. . . . Las Vegas is a society of armed masturbators/gambling is the kicker here/sex is extra/weird trip for high rollers . . . house-whores for winners, hand jobs for the bad luck crowd.

Dear New Orleans, What a big, beautiful mess you are. A giant flashing yellow light—proceed with caution, but proceed. Not overly ambitious, you have a strong identity, and don’t look outside yourself for intrigue, evolution, or monikers of progress. Proud of who you are, you know your flavor, it’s your very own, and if people want to come taste it, you welcome them without solicitation. Your hours trickle by, Tuesdays and Saturdays more similar than anywhere else. Your seasons slide into one another. You’re the Big Easy…home of the shortest hangover on the planet, where a libation greets you on a Monday morning with the same smile as it did on Saturday night. Home of the front porch, not the back. This engineering feat provides so much of your sense of community and fellowship as you relax facing the street and your neighbors across it. Rather than retreating into the seclusion of the backyard, you engage with the goings-on of the world around you, on your front porch. Private properties hospitably trespass on each other and lend across borders where a 9:00 A.M. alarm clock is church bells, sirens, and a slow-moving eight-buck-an-hour carpenter nailing a windowpane two doors down. You don’t sweat details or misdemeanors, and since everybody’s getting away with something anyway, the rest just wanna be on the winning side. And if you can swing the swindle, good for you, because you love to gamble and rules are made to be broken, so don’t preach about them, abide. Peddlin worship and litigation, where else do the dead rest eye to eye with the livin? You’re a right-brain city. Don’t show up wearing your morals on your sleeve ’less you wanna get your arm burned. The humidity suppresses most reason so if you’re crossing a one-way street, it’s best to look both ways. Mother Nature rules, the natural law capital “Q” Queen reigns supreme, a science to the animals, an overbearing and inconsiderate bitch to us bipeds. But you forgive her, and quickly, cus you know any disdain with her wrath will reap more: bad luck, voodoo, karma. So you roll with it, meander rather, slowly forward, takin it all in stride, never sweating the details. Your art is in your overgrowth. Mother Nature wears the crown around here, her royalty rules, and unlike in England, she has both influence and power. You don’t use vacuum cleaners, no, you use brooms and rakes to manicure. Where it falls is where it lays, the swerve around the pothole, the duck beneath the branch, the poverty and the murder rate, all of it, just how it is and how it turned out. Like a gumbo, your medley’s in the mix. —June 7, 2013, New Orleans, La.

There can be no doubt that the chief fault we have developed, through the long course of human evolution, is a certain basic passivity. When provoked by challenges, human beings are magnificent. When life is quiet and even, we take the path of least resistance, and then wonder why we feel bored. A man who is determined and active doesn't pay much attention to 'luck'. If things go badly, he takes a deep breath and redoubles his effort. And he quickly discovers that his moments of deepest happiness often come after such efforts. The man who has become accustomed to a passive existence becomes preoccupied with 'luck'; it may become an obsession. When things go well, he is delighted and good humored; when they go badly, he becomes gloomy and petulant. He is unhappy—or dissatisfied—most of the time, for even when he has no cause for complaint, he feels that gratitude would be premature; things might go wrong at any moment; you can't really trust the world... Gambling is one basic response to this passivity, revealing the obsession with luck, the desire to make things happen. The absurdity about this attitude is that we fail to recognize the active part we play in making life a pleasure. When my will is active, my whole mental and physical being works better, just as my digestion works better if I take exercise between meals. I gain an increasing feeling of control over my life, instead of the feeling of helplessness (what Sartre calls 'contingency') that comes from long periods of passivity. Yet even people who are intelligent enough to recognize this find the habit of passivity so deeply ingrained that they find themselves holding their breath when things go well, hoping fate will continue to be kind.

It's my opinion he don't want to kill you,' said Perea - 'at least not yet. I've heard deir idea is to scar and worry a man wid deir spells, and narrow misses, and rheumatic pains, and bad dreams, and all dat, until he's sick of life. Of course, it's all talk, you know. You mustn't worry about it. But I wunder what he'll be up to next.' 'I shall have to be up to something first,' said Pollock, staring gloomily at the greasy cards that Perea was putting on the table. 'It don't suit my dignity to be followed about, and shot at, and blighted in this way. I wonder if Porroh hokey-pokey upsets your luck at cards.' He looked at Perea suspiciously. 'Very likely it does,' said Perea warmly, shuffling. 'Dey are wonderful people.' ("Pollock And The Porrah Man")

Above all, he liked it that everything was one’s own fault. There was only oneself to praise or blame. Luck was a servant and not a master. Luck had to be accepted with a shrug or taken advantage of up to the hilt. But it had to be understood and recognized for what it was and not confused with a faulty appreciation of the odds, for, at gambling, the deadly sin is to mistake bad play for bad luck. And luck in all its moods had to be loved and not feared. Bond saw luck as a woman, to be softly wooed or brutally ravaged, never pandered to or pursued. But he was honest enough to admit that he had never yet been made to suffer by cards or by women. One day, and he accepted the fact, he would be brought to his knees by love or by luck. When that happened he knew that he too would be branded with the deadly question-mark he recognized so often in others, the promise to pay before you have lost: the acceptance of fallibility.

Mr. Rohan,” she heard Beatrix ask, “are you going to marry my sister?” Amelia choked on her tea and set the cup down. She sputtered and coughed into her napkin. “Hush, Beatrix,” Win murmured. “But she’s wearing his ring—” Poppy clamped her hand over Beatrix’s mouth. “Hush!” “I might,” Cam replied. His eyes sparkled with mischief as he continued. “I find your sister a bit lacking in humor. And she doesn’t seem particularly obedient. On the other hand—” One set of French doors flew open, accompanied by the sound of breaking glass. Everyone on the back terrace looked up in startlement, the men rising from their chairs. “No,” came Win’s soft cry. Merripen stood there, having dragged himself from his sickbed. He was bandaged and disheveled, but he looked far from helpless. He looked like a maddened bull, his dark head lowered, his hands clenched into massive fists. And his stare, promising death, was firmly fixed on Cam. There was no mistaking the bloodlust of a Roma whose kinswoman had been dishonored. “Oh, God,” Amelia muttered. Cam, who stood beside her chair, glanced down at her questioningly. “Did you say something to him?” Amelia turned red as she recalled her blood-spotted nightgown and the maid’s expression. “It must have been servants’ talk.” Cam stared at the enraged giant with resignation. “You may be in luck,” he said to Amelia. “It looks as if our betrothal is going to end prematurely.” She made to stand beside him, but he pressed her back into the chair. “Stay out of this. I don’t want you hurt in the fray.” “He won’t hurt me,” Amelia said curtly. “It’s you he wants to slaughter.” Holding Merripen’s gaze, Cam moved slowly away from the table. “Is there something you’d like to discuss, chal?” he asked with admirable self-possession. Merripen replied in Romany. Although no one save Cam understood what he said, it was clearly not encouraging. “I’m going to marry her,” Cam said, as if to pacify him. “That’s even worse!” Merripen moved forward, murder in his eyes. Lord St. Vincent swiftly interceded, stepping between the pair. Like Cam, he’d had his share of putting down fights at the gambling club. He lifted his hands in a staying gesture and spoke smoothly. “Easy, large fellow. I’m sure you can find a way to resolve your differences in a reasonable fashion.” “Get out of my way,” Merripen growled, putting an end to the notion of civilized discourse. St. Vincent’s pleasant expression didn’t change. “You have a point. There’s nothing so tiresome as being reasonable. I myself avoid it whenever possible. Still, I’m afraid you can’t brawl when there are ladies present. It might give them ideas.

Perhaps a crux of success or failure as a society is to know which core values to hold on to, and which ones to discard and replace with new values, when times change. In the last 60 years the world’s most powerful countries have given up long-held cherished values previously central to their national image, while holding on to other values. Britain and France abandoned their centuries-old role as independently acting world powers; Japan abandoned its military tradition and armed forces; and Russia abandoned its long experiment with communism. The United States has retreated substantially (but hardly completely) from its former values of legalized racial discrimination, legalized homophobia, a subordinate role of women, and sexual repression. Australia is now reevaluating its status as a rural farming society with British identity. Societies and individuals that succeed may be those that have the courage to take those difficult decisions, and that have the luck to win their gambles.

I am lucky, Master Gill,” Mat said. “You just have a good meal waiting when I come back.” As he stood, he picked up the dice cup and spun the dice out beside the stones board for luck. The calico cat leaped down, hissing at him with her back arched. The five spotted dice came to rest, each showing a single pip. The Dark One’s Eyes. “That’s the best toss or the worst,” Gill said. “It depends on the game you are playing, doesn’t it. Lad, I think you mean to play a dangerous game. Why don’t you take that cup out into the common room and lose a few coppers? You look to me like a fellow who might like a little gamble. I will see the letter gets to the Palace safely.” “Coline wants you to clean the drains,” Mat told him, and turned to Thom while the innkeeper was still blinking and muttering to himself. “It doesn’t seem to make any odds whether I get an arrow in me trying to deliver that letter or a knife in my back waiting. It’s six up, and a half dozen down. Just you have that meal waiting, Thom.” He tossed a gold mark on the table in front of Gill. “Have my things put in a room, innkeeper. If it takes more coin, you will have it. Be careful of the big roll; it frightens Thom something awful.

His lordship preserved his control over himself with a strong effort. After a moment of inward struggle, he said: ‘Drawing the bustle with a vengeance, weren’t you? No, don’t cry! It might have been worse. But what possessed you, you little simpleton, to throw good money after bad? For I know very well you went a second night to that curst hell! Had you no more sense than to allow yourself to be plucked again? Good God! is gaming in your blood?’ ‘Oh, no, no, I am sure it is not, for I was never more uncomfortable in my life! Indeed, I wish I had not gone back, but I did it for the best, Sherry, and truly I thought you would have told me to if I could but have asked you!’ ‘Thought I – thought I – ?’ gasped his lordship. ‘Have you gone mad, Hero?’ ‘But, Sherry, you told me yourself, when your uncle Prosper had been teasing you, that the only thing to be done was to continue playing, because a run of bad luck could not last for ever, and –’ She broke off, alarmed by the expression on his face. ‘Oh, what have I said?’ she cried. ‘It’s what I have said!’ replied Sherry. ‘No, no, don’t look like that, Kitten! It’s all my curst fault! Only I never dreamed you’d pay the least heed – Lord, I might have known, though! Kitten, don’t listen to me when I talk such nonsense!

It had been years since he'd seen a woman handle a crowd of admirers so deftly- not since Lily in her gambling days. Fascinated, he wondered where the hell she had come from. He knew about all the new arrivals in London, and he'd never seen her before. She must be some diplomat's wife, or some exclusive courtesan. Her lips were red and pouting, her pale white shoulders enticingly bare above the blue velvet of her gown. She laughed frequently, tossing her head back in a way that caused her chestnut curls to dance. Like the other men present, Derek was captivated by her figure, the luscious round breasts, the tiny waist, all revealed by a well-fitted gown that was unlike the shapeless Grecian styles of the other women. "A toast to the loveliest bosom in London!" Lord Bromley, a rakish ne'er-do-well, exclaimed. Titillated and excited, the crowd raised their glasses with a cheer. Waiters rushed to bring more liquor. "Miss," one of them begged, "I entreat you to cast my dice for me." "Whatever good luck I have is yours," she assured him, and shook the dice in the box so vigorously that her breasts quivered beneath their shallow covering. The temperature in the room escalated rapidly as a host of admiring sighs greeted the display. Derek decided to intervene before the crowd's mood became too highly charged. Either the vixen didn't realize the lust she was inciting, or she was doing it deliberately. Either way, he wanted to meet her.

Luck is flow and force. There's no power that can fully take that into account, fate is still wavering.

the strong feeling beginning to be manifested to Wade was not the fun of matching wits and luck with his antagonists, nor a desire to accumulate money--for his recklessness disproved that--but the liberation of the gambling passion.

at gambling, the deadly sin is to mistake bad play for bad luck.

Cicero believed “luck” determined the success of gambling with essentially random devices. He also apparently understood that there was a relationship between the luck (odds) on a particular throw or set of throws and long-term frequencies. But Cicero was later executed, illustrating that rationality does not guarantee success; it only increases its likelihood. In fact, as pointed out earlier, opting for rationality when others do not can lead to social ostracism.

Asked about China, he marvels at its economic transformation, but laments that too many Chinese “like to gamble, and they actually believe in luck. Now, that is stupid. What you don’t want to believe in is luck. You want to believe in odds.

Poker players explained to me that there’s a particular moment at which players are extremely vulnerable to an emotional surge. It’s not when they’ve won a huge pot or when they’ve drawn a fantastic hand. It’s when they’ve just lost a lot of money through bad luck (a ‘bad beat’) or bad strategy. The loss can nudge a player into going ‘on tilt’ – making overly aggressive bets in an effort to win back what he wrongly feels is still his money. The brain refuses to register that the money has gone. Acknowledging the loss and recalculating one’s strategy would be the right thing to do, but that is too painful. Instead, the player makes crazy bets to rectify what he unconsciously believes is a temporary situation. It isn’t the initial loss that does for him, but the stupid plays he makes in an effort to deny that the loss has happened. The eat economic psychologists Daniel Kahneman and Amos Tversky summarised the behaviour in their classic analysis of the psychology of risk: ‘a person who has not made peace with his losses is likely to accept gambles that would be unacceptable to him otherwise’. Even those of us who aren’t professional poker players know how it feels to chase a loss.

I went out of my way to come over here and it'd spoil everything if I had to shoot you before I told you why I had to shoot you.

As all true gamblers know, the moods of luck, whether bad or good, are as changeable as the winds. One moment she might be with you, guiding you gently toward some distant paradise you never hoped to see; the next, she could be battering you to death against the rocks. A successful gambler therefore, the old man had said, is not one on whom luck never turns her back, but rather one who knows the moment to take their fate back from her into their own hands.

He was twelve hundred down. This was against the odds, true bad luck, and then it occurred to him the fights could be rigged. He hadn’t been paying attention to the politicians. Were they winning? Could they be ring-ins: invertebrates betting on invertebrates? He wanted to bust their faces, but willed himself to walk out the door. The invertebrates, sooner or later, always won.

You're leaving me?" St. Vincent asked, looking perturbed. "For how long?" "For good, actually." As St. Vincent absorbed the information, his pale blue eyes narrowed. "What will you do for money?" Relaxed in the face of his employer's displeasure, Cam shrugged. "I already have more money than anyone could spend in a lifetime." The viscount glanced heavenward. "Anyone who says such a thing obviously doesn't know the right places to shop." He sighed shortly. "So. If I'm to understand correctly, you intend to eschew civilization altogether and live as a savage?" "No, I intend to live as a Roma. There's a difference." "Rohan, you're a wealthy young bachelor with all the advantages of modern life. If you've got ennui, do what every other man of means does." Cam's brows lifted. "And that would be? "Gamble! Drink! Buy a horse! Take a mistress! For God's sake, have a little imagination. Can you think of no better option than to throw it all away and live like a primitive, thereby inconveniencing me in the process? How the devil am I to replace you?" "No one's irreplaceable." "You are. No other man in London can do what you do. You're a walking account book, you've got eyes in the back of your head, you've got the tact of a diplomat, the mind of a banker, the fists of a boxer, and you can put down a fight in a matter of seconds. I'd need to hire at least a half-dozen men to your job." "I don't have the mind of a banker," Cam said indignantly. "After all your investment coups, you can't deny? "That wasn't on purpose!" A scowl spread across Cam's face. "It was my good-luck curse.

Feels like the goodbye scene from a western... which is ironic.

Atlantic City" Well, they blew up the chicken man in Philly last night And they blew up his house, too Down on the boardwalk, they're getting ready for a fight Gonna see what them racket boys can do Now there's trouble busing in from out of state And the D.A. can't get no relief Gonna be a rumble out on the promenade And the gambling commission's hanging on by the skin of its teeth Well, now, everything dies, baby, that's a fact But maybe everything that dies someday comes back Put your makeup on, fix your hair up pretty And meet me tonight in Atlantic City Well, I got a job and tried to put my money away But I got debts that no honest man can pay So I drew what I had from the Central Trust And I bought us two tickets on that Coast City bus Well, now, everything dies, baby, that's a fact But maybe everything that dies someday comes back Put your makeup on, fix your hair up pretty And meet me tonight in Atlantic City Now, our luck may have died, and our love may be cold But with you, forever, I'll stay We're going out where the sand's turning to gold So put on your stockings, baby, 'cause the night's getting cold And everything dies, baby, that's a fact But maybe everything that dies someday comes back Now I been looking for a job, but it's hard to find Down here, it's just winners and losers and "Don't get caught on the wrong side of that line" Well, I'm tired of coming out on the losing end So, honey, last night, I met this guy, and I'm gonna do a little favor for him Well, now, everything dies, baby, that's a fact But maybe everything that dies someday comes back Put your makeup on, fix your hair up pretty And meet me tonight in Atlantic City Bruce Springsteen, Nebraska (1982)

Beginner’s luck—it never happened again. I’ve lost it all since then, so I’ll stop while I still break even. No more gambling for me.” “Is that a bet? Would you put five bucks on it?” “Sure.” “Then pay over—you’ve already lost by accepting.

It is not really my son’s fault, after all what can he do. Gambling is an inherited disease, who is he to fight it. Generations before him have succumbed to the rush of excitement, the lure of teasing fate, the brief moment of uncertainty and the prospect of an easy win. It needs no skill, not much effort and certainly no talent - only a deep wallet and a strong heart.

I’d spent my entire life in surface waters hoping that my luck would change and everything I’d dreamed of would fall into place for me. That night, on my drive home to Indiana, I accepted the hard truth that hoping and wishing are like gambling on long shots, and if I wanted to be better, I had to start living every day with a sense of urgency. Because that is the only way to turn the odds in your favor.

What do the popular expressions “a swimmer’s body” and “beginner’s luck” have in common? What do they seem to share with the concept of history? There is a belief among gamblers that beginners are almost always lucky. “It gets worse later, but gamblers are always lucky when they start out,” you hear. This statement is actually empirically true: researchers confirm that gamblers have lucky beginnings (the same applies to stock market speculators). Does this mean that each one of us should become a gambler for a while, take advantage of lady luck’s friendliness to beginners, then stop? The answer is no. The same optical illusion prevails: those who start gambling will be either lucky or unlucky (given that the casino has the advantage, a slightly greater number will be unlucky). The lucky ones, with the feeling of having been selected by destiny, will continue gambling; the others, discouraged, will stop and will not show up in the sample. They will probably take up, depending on their temperaments, bird-watching, Scrabble, piracy, or other pastimes. Those who continue gambling will remember having been lucky as beginners. The dropouts, by definition, will no longer be part of the surviving gamblers’ community. This explains beginner’s luck.

You should not have kissed me," she replied breathlessly. "I do a lot of things I shouldn't. It does not mean I won't do them again.

It was not so much, Paul was beginning, justifiably, to believe, to support extravagant wives that men toiled in the city, as was the opinion generally expressed, especially by foreign visitors, as it was to escape from these wives. (….) They were having, he was by way of informing himself, an extraordinarily good time. To be sure, they dashed nimbly after the dollar, but even that part of the game resembled gambling or fox-hunting. It was an adventure replete with frills, false trails, happy discoveries, comic coincidences. There was so much, indeed, of sportsman's luck in everything that went on there that Wall Street was prone to impress him as a kind of glorified Monte Carlo, the Circassian walnut cabinets in each office, stored with liquors and tobacco, supplying the place of the bar, while the Stock Exchange made an excellent substitute for the salle de jeu.

Neely Thomas was used to losing. Compulsive gamblers learn how to handle it—his kids' college funds depleted, an ultimatum from his wife, his life near bottom—he was ready to unravel. But then a moment's inattention—checking the football scores instead of keeping his eyes on the road—and a traffic accident leaves an innocent boy dead. Now suddenly Neely can't stop winning. The punishment for his crime? How bad could this be? A winning streak so relentless it won't end until his lies are exposed and he's lost everything he loves.

Gambling wasn't even about the money, was it? Not the action, not the bells, not the adrenaline, those were just add-ons. It was about the luck . . . the jouissance of gambling, it was pure, goddamned luck. The high holiest of holies.

There lay the real danger; for the energy they devoted to fighting the disease made them all the more liable to it. In short, they were gambling on their luck, and luck is not to be coerced.

Like a love-high giddy fool, I spent all my life's luck on winning card games for my beloved Collin and Wren who I might still die for, given the chance. After all, I had loved them both more than I did myself.

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The men were thorough sportsmen, loving horse-racing, foot-racing, and gambling. They were graceful winners, and good losers in games of chance. And they were firm believers in luck, and in the medicine conferred in dreams. Men often starved, and even tortured themselves, in preparation for desired medicine-dreams. Then, weakened both physically and mentally by enervating sweat-baths and fatigue, they slipped away alone to some dangerous spot, usually a high mountain-peak, a sheer cliff or a well-worn buffalo-trail that might be traveled at any hour by a vast herd of buffalo; and here, without food, or water, they spent four days and nights (if necessary) trying to dream, appealing to invisible “helpers,” crying aloud to the winds until utter exhaustion brought them sleep, or unconsciousness—and perhaps a medicine-dream. If lucky, some animal or bird appeared to the dreamer, offering counsel and help, nearly always prescribing rules which if followed would lead the dreamer to success in war. Thereafter the bird or animal appearing in the medicine-dream was the dreamer’s medicine. He believed that all the power, the cunning, and the instinctive wisdom, possessed by the appearing bird or animal would forever afterward be his own in time of need. And always thereafter the dreamer carried with him some part of such bird or animal. It was his lucky-piece, a talisman, and he would undertake nothing without it upon his person.

When you play slots in a casino, you pray and hope for luck with each pull – well, that’s not how investment works. Investing is not a type of gambling you can risk your luck into.

You’ve heard of voodoo economics perhaps? Money magic is the most pervasive of all. Of course it would be, since money itself is the ultimate magic, a piece of paper that can do everything. Everyone wants good money magic, a way to win the lottery, gambling luck, an unexpected check in the mail, but the money magic of everyday life is more often bad. Win some money, get a bonus, have a little inheritance, and a major appliance will go out, the kid will get sick, a tire will go flat. Once you’re as poor as you were before the money arrived, life returns to normal. It’s as though there’s some kind of balance sheet that makes sure we stay at exactly the same level of prosperity all the time.

Time is the dominant factor in gambling. Risk and time are opposite sides of the same coin, for if there were no tomorrow there would be no risk. Time transforms risk, and the nature of risk is shaped by the time horizon: the future is the playing field. Time matters most when decisions are irreversible. And yet many irreversible decisions must be made on the basis of incomplete information. Irreversibility dominates decisions ranging all the way from taking the subway instead of a taxi, to building an automobile factory in Brazil, to changing jobs, to declaring war. If we buy a stock today, we can always sell it tomorrow. But what do we do after the croupier at the roulette table cries, “No more bets!” or after a poker bet is doubled? There is no going back. Should we refrain from acting in the hope that the passage of time will make luck or the probabilities turn in our favor? Hamlet complained that too much hesitation in the face of uncertain outcomes is bad because “the native hue of resolution is sicklied o’er with the pale cast of thought . . . and enterprises of great pith and moment . . . lose the name of action.” Yet once we act, we forfeit the option of waiting until new information comes along. As a result, not-acting has value.

Human beings have always been infatuated with gambling because it puts us head-to-head against the fates, with no holds barred. We enter this daunting battle because we are convinced that we have a powerful ally: Lady Luck will interpose herself between us and the fates (or the odds) to bring victory to our side. Adam Smith, a masterful student of human nature, defined the motivation: “The overweening conceit which the greater part of men have of their own abilities [and] their absurd presumption in their own good fortune.”1 Although Smith was keenly aware that the human propensity to take risk propelled economic progress, he feared that society would suffer when that propensity ran amuck. So he was careful to balance moral sentiments against the benefits of a free market. A hundred and sixty years later, another great English economist, John Maynard Keynes, agreed: “When the capital development of a country becomes the by-product of the activities of a casino, the job is likely to be ill-done.

Pontius Pilate’s soldiers cast lots for Christ’s robe as He suffered on the cross. The Roman Emperor Marcus Aurelius was regularly accompanied by his personal croupier. The Earl of Sandwich invented the snack that bears his name so that he could avoid leaving the gaming table in order to eat. George Washington hosted games in his tent during the American Revolution.4 Gambling is synonymous with the Wild West. And “Luck Be a Lady Tonight” is one of the most memorable numbers in Guys and Dolls, a musical about a compulsive gambler and his floating crap game.

Above all, he liked it that everything was one’s own fault. There was only oneself to praise or blame. Luck was a servant and not a master. Luck had to be accepted with a shrug or taken advantage of up to the hilt. But it had to be understood and recognized for what it was and not confused with a faulty appreciation of the odds, for, at gambling, the deadly sin is to mistake bad play for bad luck. And luck in all its moods had to be loved and not feared.