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Comment: Re:Lottery, Stock Market, Gambling--All Sucker Gam (Score 1) 223

by LogistX (#29084341) Attached to: BetOnSports Founder Pleads Guilty To Racketeering

Sorry while the stock market as the appearance of gambling its not quite the same.

Here are differences:

1)

If I put down a dollar in a casino I either win or loose, its a binary.
If I put down a dollar in the stock market I have the choice of getting my money back at a later point in time at a loss or gain. It is not binary.

2)

If I bet on red I have odds that red might win.
If I buy a stock based on analysis X I have a probability that I can go home with a gain at my discretion.

3)

Casinos work on randomness
Stock markets are not random. They appear random and to the layman seem random, but are not random.

If you had put your money in the stock market in the last 9 years you would have lost. Ok how about the last 20 years? You would have made money. If you had shorted you would have made money. If you had sold premium you would have made money. The list goes on...

People who say think that there is only one way to make money in the stock market. In fact there are many ways, you just have to know what to do and when.

1. Clearly you have never heard of a binary option. There are other derivatives that have very close analogies in the gambling world.
2. If I buy a sports betting ticket based on my analysis that team A will beat team B X% of the time, how is this any different than "investing" in an option based on similar analysis.
3. Not everything in a casino operates off of randomness and not everything in the stock market isn't random. Sports are not random, but to a laymen they can appear random. I can bet on sports in a similar fashion to the way that based on analysis I can bet on equities or commodities. Blackjack appears random, but past cards can help predict future cards and that is why the game is beatable. There are lots of ways to make money gambling -- it isn't as simple as betting red or black and praying to the gambling gods to shine on you.

An argument can be made that stock investing is not exactly like gambling due to the partial ownership of the company. However, derivatives ARE gambling. Plain and simple.

Comment: Re:BIG DEAL. They are talking about LIMIT hold'em! (Score 1) 312

by LogistX (#24052287) Attached to: Poker Program Battles Humans In Vegas

I don't care how well such a program is coded... it will absolutely buckle under the pressure of a professional who constantly bets half his stack on nothing. The machine would turn into a professional folding station that only plays AA, KK, or AK. Guess what? That strategy isn't winning any games or any period of time in a no-limit or pot-limit world.

This is where the machine learning comes into play. Each time the human bets half her stack right off the bat, the machine lowers its calling (and raising) standards.

The trouble with the rat-race is that even if you win, you're still a rat. -- Lily Tomlin

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