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Contenu fourni par The Modern Man and Ted Phaeton. Tout le contenu du podcast, y compris les épisodes, les graphiques et les descriptions de podcast, est téléchargé et fourni directement par The Modern Man and Ted Phaeton ou son partenaire de plateforme de podcast. Si vous pensez que quelqu'un utilise votre œuvre protégée sans votre autorisation, vous pouvez suivre le processus décrit ici https://fr.player.fm/legal.
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127: Strategies for Responsible Gambling with Dr. Michael Orkin

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Manage episode 447628121 series 3558056
Contenu fourni par The Modern Man and Ted Phaeton. Tout le contenu du podcast, y compris les épisodes, les graphiques et les descriptions de podcast, est téléchargé et fourni directement par The Modern Man and Ted Phaeton ou son partenaire de plateforme de podcast. Si vous pensez que quelqu'un utilise votre œuvre protégée sans votre autorisation, vous pouvez suivre le processus décrit ici https://fr.player.fm/legal.
In this episode of the Modern Man Podcast, host Ted Phaeton engages with Dr. Michael Orkin, a distinguished professor and author, to explore the intricate world of chance, probability, and gambling. They discuss the fundamental principles of gambling, the dynamics of sports betting, and the psychological aspects that make gambling captivating. Dr. Orkin shares insights from his book, 'The Story of Chance,' emphasizing the importance of understanding expected value and money management in betting. The conversation also touches on the distinction between luck and skill in gambling, providing listeners with valuable advice for responsible gambling practices. Takeaways
  • Gambling games serve as a metaphor for randomness in life.
  • Understanding chance and probability is crucial in gambling.
  • Never bet more than you can afford to lose.
  • Craps and roulette are games of pure chance.
  • Blackjack involves conditional probabilities and strategies.
  • Various changing factors influence sports betting.
  • Gut feelings in sports betting can be informed by knowledge.
  • Skillful sports bettors can outperform luck.
  • Money management is essential for successful betting.
  • The psychology of intermittent rewards can lead to addiction.

Chapters

00:13 Introduction to the Modern Man Podcast 02:44 Understanding Chance and Probability in Gambling 10:43 The Dynamics of Sports Betting 17:12 Luck vs. Strategy in Gambling 21:05 The Role of Skill in Sports Betting 28:14 The Psychology of Gambling and Chance 32:48 Insights from 'The Story of Chance' 38:08 Advice for Responsible Gambling

Dr. Orkins Links:

LinkedIn: Dr. Mike Orkin

Book: Dr. Mike Orkin

Free eBook Here: Mastering Self-Development: Strategies of the New Masculine: https://rebrand.ly/m2ebook

⚔️JOIN THE NOBLE KNIGHTS MASTERMIND⚔️

https://themodernmanpodcast.com/thenobleknights

🤝CONNECT WITH THE MODERN MAN🤝

Visit our website: themodernmanshow.com

Follow us on Twitter: TheModernMan8

Follow us on Instagram: @TheModernManShow

Subscribe to our YouTube channel: The Modern Man

  continue reading

362 episodes

Artwork
iconPartager
 
Manage episode 447628121 series 3558056
Contenu fourni par The Modern Man and Ted Phaeton. Tout le contenu du podcast, y compris les épisodes, les graphiques et les descriptions de podcast, est téléchargé et fourni directement par The Modern Man and Ted Phaeton ou son partenaire de plateforme de podcast. Si vous pensez que quelqu'un utilise votre œuvre protégée sans votre autorisation, vous pouvez suivre le processus décrit ici https://fr.player.fm/legal.
In this episode of the Modern Man Podcast, host Ted Phaeton engages with Dr. Michael Orkin, a distinguished professor and author, to explore the intricate world of chance, probability, and gambling. They discuss the fundamental principles of gambling, the dynamics of sports betting, and the psychological aspects that make gambling captivating. Dr. Orkin shares insights from his book, 'The Story of Chance,' emphasizing the importance of understanding expected value and money management in betting. The conversation also touches on the distinction between luck and skill in gambling, providing listeners with valuable advice for responsible gambling practices. Takeaways
  • Gambling games serve as a metaphor for randomness in life.
  • Understanding chance and probability is crucial in gambling.
  • Never bet more than you can afford to lose.
  • Craps and roulette are games of pure chance.
  • Blackjack involves conditional probabilities and strategies.
  • Various changing factors influence sports betting.
  • Gut feelings in sports betting can be informed by knowledge.
  • Skillful sports bettors can outperform luck.
  • Money management is essential for successful betting.
  • The psychology of intermittent rewards can lead to addiction.

Chapters

00:13 Introduction to the Modern Man Podcast 02:44 Understanding Chance and Probability in Gambling 10:43 The Dynamics of Sports Betting 17:12 Luck vs. Strategy in Gambling 21:05 The Role of Skill in Sports Betting 28:14 The Psychology of Gambling and Chance 32:48 Insights from 'The Story of Chance' 38:08 Advice for Responsible Gambling

Dr. Orkins Links:

LinkedIn: Dr. Mike Orkin

Book: Dr. Mike Orkin

Free eBook Here: Mastering Self-Development: Strategies of the New Masculine: https://rebrand.ly/m2ebook

⚔️JOIN THE NOBLE KNIGHTS MASTERMIND⚔️

https://themodernmanpodcast.com/thenobleknights

🤝CONNECT WITH THE MODERN MAN🤝

Visit our website: themodernmanshow.com

Follow us on Twitter: TheModernMan8

Follow us on Instagram: @TheModernManShow

Subscribe to our YouTube channel: The Modern Man

  continue reading

362 episodes

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