Gambling

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“The gambling known as business looks with austere disfavor upon the business known as gambling.”

–     Ambrose Bierce (1842 – 1914), American writer and humorist

One man’s hobby is another’s addiction.  We “love our job,” while they’re workaholics.

PoTAYto, poTAHto, right?

Some random thoughts:

  1. I hate it that 90% of the sports coverage now includes talk of the betting lines and money movement.  The last thing a 12-year-old kid needs to be thinking of is whether the extra point covers the spread.  We become what we’re exposed to, and it’s sad to me that we’ve got this wrong, as a society.
  2. I’m not against gambling.  If it’s not a problem, folks should have the freedom to do what they want with their money.  Besides, we do gamble every day in business.  I love the “gambling known as business / business known as gambling” comparison drawn by Ambrose Bierce.  Deciding whether to put our capital into heavy equipment or technology has to be at least as risky as taking Ohio State and the 17 points, right.  (Bad example.  I’ll take Ohio State and 20…but you get my point.)
  3. Innocence might have been lost somewhere along the way — but maybe our grandparents and their grandparents said the same thing.  Even with no money on the game, I sat down last night hoping the Packers beat the Eagles by at least five points, and the Tallest of The Three and I discussed it…..see #1 above.  (Sigh….they lost, straight up…)
  4. If it is gambling, businesses need to align themselves with Las Vegas’ way of operating.  Why is Vegas right so often?  Because they prepare relentlessly, gather and crunch meaningful data purposefully and then they review what the data shows through the lens of absolute expertise.
  5. Being that prepared means more time spent sharpening the axe and less time chopping trees.

How sharp is our axe? How long are our odds?  What are we doing to move the smart money to us?

Have a great weekend.  (I’ll also take my Hawkeyes -17.5 at home vs. Middle Tennessee State….just sayin’…)

 


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