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Do you have what it takes to be a winner ?

In the movie and book "The bridge over the river Kwai" by Pierre Boule there's a nice practical example of taking a chance:
Three commandos have to be parachuted into the Siamese jungle, but none of them have any experience jumping at all and there's very little time to teach them. When asked to give them a quick training a parachute instructor advises against training in these words:

...if they only do one jump, you know, there is a 50% chance of an injury. Two jumps it's 80%. The third time, it's death certain they won't get off scot free. You see ? It's not a question of training but the law of averages.

Although he was wrong about the percentages (1/2 x 1/2 = 75% chance of an injury on the second jump) there's certainly some truth in it. Beware, you'll lose in the long run when gambling if the odds are against you, and they always are in a casino. All three survived the jump by the way, a chance of seven to 1.

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Casino Game of the month

Jacks or Better at Slotland
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Read more

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