I know someone who would bet $300 to $400 every week on 4D and Toto. It is simply mind-boggling to me.
When I found out, I suggested that he should save the money every week instead.
To me, it is a no-brainer.
I explained to him that, in a month, he would save $1,200 to $1,600 and in a year, he would save $14,400 to $19,200!
That is quite a lot of money.
His reply to me,
"Hey, what if I gave up and one of the 4D or Toto combinations I always buy appear as first prize har? You compensate me har?"
I was speechless!
I mean if he had listened to me, I would have gone on to explain the next step of how he could invest that $14,400 to $19,200 a year for a dividend income of $720 to $960 a year which although not a lot is nice to have.
Then, imagine doing it year after year!
Gambling is like a drug.
This person is so hung up on the possibility of striking it rich and he has been doing this for so long that he is unable to quit for fear that all his previous "investment" would go to waste.
Chances of winning first prize in 4D is 1 in 10,000.
Chances of winning first prize in Toto is 1 in 8,145,060!
How are the odds more attractive compared to a sure win of $14,000 to $19,200 per year?
Of course, let us not forget the possibility of a dividend income if the money was invested.
Well, he must think I am mental. Many patients in Buangkok Green share his view, I am sure.
"rationalizing foolish conduct, based on your subconscious tendency to serve yourself, is a terrible way to think."
- Charlie Munger.
Update: 27 July 16
Click to enlarge and be stunned like vegetable! |
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