Earlier today, we brought you the Macquarie Quant Team's picks for Melbourne Cup 2017. Now that the race has been run, we have the actual winners. Here they are!
Tagged With gambling
Whether it comes to financial planning, extreme sports or dating, some people are willing to take more risks than others. Researchers have linked several socio-economic and demographic factors with the degree to which people tolerate risk, and age consistently comes up.
The Melbourne Cup is nearly upon us, which means workplace sweeps, free-flowing champers and people wearing silly hats. It's also a good opportunity to show off your commanding grasp of the sport’s varied verbiage. This in-depth glossary is designed to help ensure you know your farriers from your fascinators.
Just as President John F. Kennedy famously implored Americans to ask what they might do for their country rather than vice versa, the New South Wales government’s decision to ban greyhound racing from July next year suggests an approach that asks not what animals can do for us, but what we can do for them.
Everyone's heard that there are no clocks or windows in casinos so that gamblers won't realise how long they have been losing money. But is this actually design gospel? And does it work? According to research, it turns out that the most successful casino design may not be the dark, maze-like designs we think they are.
Security is a big deal at casinos, from the tuxedoed goons standing at the entrance to the gaming floor to the layers of IT protection for the data flowing to and from the site. Yet casinos still make mistakes, and one Australian gambling giant experienced a particularly spectacular stuff-up with its network.
Anyone who has ever walked into a casino has felt the lure of the slot machine. The bright lights, inviting little stools, and the promise of hitting the elusive jackpot are ever-present. It's hard to avoid, no matter what logic tells you about the terrible odds. This Cool Hunting video shows just how involved the development of those enticing machines can be.
If you're ever around kids or friends you know how appealing claw games to win stuffed animals or other prizes can be. As in most games that involve trading money for a chance to win a prize, the odds are firmly stacked in the favour of the house but there are ways you can maximise your chances to win.
If you're into social gambling, you might be interested in Dumb Little Man's tips for enjoying a trip to Vegas while still sticking to your budget.He recommends that you resist the temptation to trade your full bankroll for chips at the start of the night, recommending that you start by converting just half of it into chips.
"The reason for this is two-fold: mentally, it'll be easier for you to walk away with cash versus chips, and secondly, once you have all chips, it's difficult to get your money back; dealers will not cash you out. To get cash back, you are forced to find the cage which entails walking by eighty other game tables, cheering crowds, waiting in line, etc. That's a lot of temptation you can avoid simply by retaining some cash."
If you win, he suggests planning to walk away at the end of the night with some of your winnings in your pocket. To achieve this, put aside half of your winnings rather than betting (and possibly losing) the whole lot.He also recommends that you focus on games which give you more bang for your buck - for example - a single thrower at the Craps table can last up to 15 minutes, while a Blackjack hand can be over in just 2 minutes.
And finally some practical advice - stick to one drink an hour. Or, if you want to drink more, move to the bar for a while and put your gambling on hold. As he says, the drinks are often comped for a reason!
Got any tips for how to enjoy gambling in moderation? Share in comments please.
If you watched too many James Bond movies when you were a kid and you're still dreaming of being a card shark, then the Wired How-To Wiki might be able to help turn you into a high roller.
It brings home the reality of how much you need to be prepared to gamble in order to make money out of it though - it recommends a bankroll of 400 times your average bet. Ouch.
I especially liked that it contains even basic information for gambling newbies, like don't move your lips as you count the cards. :)