Jordan Peterson On Gambling, Money and Risk Taking
18.01.2019
Investor advisor Patrick Doyle, MBA sits down with Dr. Jordan Peterson and asks him for his thoughts on money and risk-taking.
People gamble partly because it's fun technically. Most of the neuro chemicals that our brain produces are associated with the kind of pleasure that people really like, which is like for example the kind of pleasure that drugs like cocaine produce, they are produced to induce by risky behavior that has the potential for high return. We like that sort of thing. People are wired so that they're more responsive to the probability of something good happening. So for example, we know that if people win the lottery they end up being the same or even worse. So actually winning all that money has a limited long-term impact on their happiness.
But the lead-up to the good event is the exciting part. A win might happen and that's excitement. Some people are really susceptible to that kind of reward. Everyone's susceptible to it to some degree and that can be manipulated and that's what slot machines do. Slot machines manipulate the human propensity to engage in a certain kind of gambling behavior.
Why do people gamble? Sometimes taking a risk really pays off and not taking a risk is also a risk. So there's no way out of risk. Life is gambling one way or another – just like a lottery ticket winner. What are players paying for? They're paying for the fun that's associated with the anticipation of the reward and the brain isn't that great at calculating mathematical probabilities.
Excellent analysis of human behavior by Canadian Psychologist Jordan Peterson, we recommend the video below.
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Christmas is just around the corner and Bethard's Team prepared a fun quiz for their sports lovers. The ultimate christmas sports quiz - bringing you gifts galore during this festive season. Sports fans, get ready to receive a stocking-full of ...
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It's December already, so forget all about Halloween and Thanksgiving and get ready to celebrate Christmas with 21.com. In the holiday spirit, 21.com will offer special bonus offers every day until the end of the month. Apart from the daily ...
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History of the Casino: How Did It Start
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One of the casinos on our list is suspending its operations. Triple Aces Casino released a statement informing the public that they will no longer be able to accept new players from November 1, 2018. Triple Aces Casino will officially ...
The Rapid Growth of eSports
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The Positive Effects of Gambling
Modern technologies such as the computer, calculator and mobile phone have eased up our lives in many ways. They have also led people to face new challenges and find alternative ways to help stimulate their cognitive functions, memory, concentration and ...
How Important is Luck in Games?
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Roulette: Origins and History of the Game
Let's talk about roulette origin and history. Roulette, a game of chance based on the rotation of the wheel and a small ball (pill), is without a doubt one of the most famous and exciting casino games today. Gamblers love ...
What Are the Different Types of Poker Games
Nowadays, there is an incredibly huge variety of poker games that have been created to suit different tastes. The game has become a staple of most casinos and is widely known around the world. It is even the game of ...
Baccarat: Rules and Strategy
Baccarat is one of the most popular casino games around the world. It is difficult to say which country it appeared in, however it is believed that it originated in France or Italy during the Middle Ages. The name itself ...
How Does a Card Shuffling Machine Work?
Card shuffling machines are employed by casinos around the world as they mix cards more effectively than manual shuffling. They decrease time wasted between games, and provide a reliable and quick card shuffling method, which also serves to exclude the ...
The Anatomy of a Slot Machine
Slot machines are among the most popular games in casinos, attracting players with their bright lights, huge jackpots, bells, and sirens. When established those machines were used to lure in inexperienced players as they require no particular skill other than ...
The House Edge and How It Works
Once you are ready to play at an online casino with real money, it is valuable to learn the odds and probabilities of the most popular games. Very often new players register and expect to have substantial wins from the ...
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Bethards TV commercial 2016
The actor Dragomir Mrsic is ambassador to Bethard . To the Euro-EM 2016, they released a TV commercial with Dragmoir, known from movies such as Edge of Tomorrow, Snabba Cash, Wallander and and the TV series Torpederna among others. Here ...
SkillOnNet completes Play’n GO integration
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Can MATHS help you win at roulette?
Can MATHS help you win at roulette? Expert reveals the tricks that will help you take cash from the casino It is easier to win on a European table than an American roulette table There are several systems, such as ...
Betting Coefficient Conversion Table
The various betting formats and their probability For a quick comparison, we created the table below for converting odds, which shows odds and their implicit probability in each format. Table for recalculation of the coefficients Implied Probability % Decimal coefficients ...
GLOBAL GAMING TO PROMOTE NINJA CASINO IN SCANDINAVIA
Online casino operator Global Gaming has announced that it will soon make its largest advertising investment yet with the launch of a new multimedia campaign designed to promote its flagship Ninja Casino brand across Scandinavia. Global Gaming stated that the ...
