Squares and Sharps Suckers and Sharks: The Science Psychology & Philosophy of Gambling

About this book

People have been gambling in one form or another for as long as history itself. Why? Money entertainment escape and a desire to win are all traditional explanations. Arguably however these are secondary considerations to a higher order purpose: a craving for control. Gambling offers a means of gaining authority over the unknown granting us a sense of control over uncertainty. Almost always that sense is illusionarygambling including betting and investing is essentially randomyet for many it is nonetheless profoundly rewarding. This book attempts to explore the reasons why. Along the way it examines the science of probability and uncertainty why gambling is often condemned the difference between expectation and utility the irrationality of human beings evolutionary perspectives on gambling luck and skill market efficiency and the wisdom of crowds why winners take all cheating and why the process matters more than the outcome.