127: Strategies for Responsible Gambling with Dr. Michael Orkin

127: Strategies for Responsible Gambling with Dr. Michael Orkin

In this episode of the Modern Man Podcast, host Ted Phaeton engages with Dr. Michael Orkin, a distinguished professor and author, to explore the intricate world of chance, probability, and gambling. They discuss the fundamental principles of gambling, the dynamics of sports betting, and the psychological aspects that make gambling captivating. Dr. Orkin shares insights from his book, 'The Story of Chance,' emphasizing the importance of understanding expected value and money management in betting. The conversation also touches on the distinction between luck and skill in gambling, providing listeners with valuable advice for responsible gambling practices. Takeaways

  • Gambling games serve as a metaphor for randomness in life.
  • Understanding chance and probability is crucial in gambling.
  • Never bet more than you can afford to lose.
  • Craps and roulette are games of pure chance.
  • Blackjack involves conditional probabilities and strategies.
  • Various changing factors influence sports betting.
  • Gut feelings in sports betting can be informed by knowledge.
  • Skillful sports bettors can outperform luck.
  • Money management is essential for successful betting.
  • The psychology of intermittent rewards can lead to addiction.

Chapters

00:13 Introduction to the Modern Man Podcast 02:44 Understanding Chance and Probability in Gambling 10:43 The Dynamics of Sports Betting 17:12 Luck vs. Strategy in Gambling 21:05 The Role of Skill in Sports Betting 28:14 The Psychology of Gambling and Chance 32:48 Insights from 'The Story of Chance' 38:08 Advice for Responsible Gambling

Dr. Orkins Links:

LinkedIn: Dr. Mike Orkin

Book: Dr. Mike Orkin

Free eBook Here: Mastering Self-Development: Strategies of the New Masculine: https://rebrand.ly/m2ebook

⚔️JOIN THE NOBLE KNIGHTS MASTERMIND⚔️

https://themodernmanpodcast.com/thenobleknights

🤝CONNECT WITH THE MODERN MAN🤝

Visit our website: themodernmanshow.com

Follow us on Twitter: TheModernMan8

Follow us on Instagram: @TheModernManShow

Subscribe to our YouTube channel: The Modern Man

Jaksot(425)

165: Generate and Manifest Possibilities for Yourself! with David Wood

165: Generate and Manifest Possibilities for Yourself! with David Wood

"We want to fly safely in a way that we're not going to kill ourselves, but that we will be proud of what we've done. And the first step is generating that possibility."  -David Wood   We are all afra...

13 Loka 202136min

164: Build an Awesomely Fun Life! with Braden Wallake

164: Build an Awesomely Fun Life! with Braden Wallake

"When you're in the moment, the serendipity of life happens so much more." -Braden    Braden Wallake went from being a college dropout to a B2B company CEO. How? He was not willing to sacrifice the fu...

6 Loka 202134min

163: A Lesson From a Very Special Dog with Caroline Rose

163: A Lesson From a Very Special Dog with Caroline Rose

"It's so easy to be consumed with what's coming up tomorrow… Dogs live in the moment, that's all they're capable of doing. I think that brings real peace-- Being here, we're safe. Right now, we are al...

29 Syys 202125min

162: Engage in the Cycle of Change with John Cerqueira

162: Engage in the Cycle of Change with John Cerqueira

"My experience with it has been so impactful in terms of focusing my efforts and my attention on the value of service, the value of doing something for other people, not just because they need it, but...

22 Syys 202130min

161: Five Major Lessons in 3 Inspiring Years

161: Five Major Lessons in 3 Inspiring Years

"Whatever it is that you want to accomplish, if the fruits are sweet and the rewards are high, it's not the low-hanging fruit. And it's probably not an easy destination. If it were, everyone would hav...

15 Syys 202115min

160: Small Choices Make Big Impacts with Simone Knego

160: Small Choices Make Big Impacts with Simone Knego

"We don't need to change who we are, we need to change the way we see ourselves. We are all unique, all unordinary, and all have extraordinary things that we bring to the world." -Simone Knego   Stand...

8 Syys 202130min

159: Master the Art of Tenacity and Live a Limitless Future by Keith Renninson

159: Master the Art of Tenacity and Live a Limitless Future by Keith Renninson

"What was really important in life were the words that we lived by." - Keith Renninson Are you bored? How would you like to go on an adventure? It would be nice to get away from the noise and stress o...

1 Syys 202135min

158: No Fear Speaking- Secrets and Strategies to be an Impact Speaker with Mike Acker

158: No Fear Speaking- Secrets and Strategies to be an Impact Speaker with Mike Acker

Do you feel sick in your stomach whenever you speak before an audience? Many of us do, and sometimes when that happens we think that we are not worthy of this privilege. However, it is good to remembe...

25 Elo 202134min

Suosittua kategoriassa Koulutus

rss-murhan-anatomia
psykopodiaa-podcast
voi-hyvin-meditaatiot-2
rss-narsisti
adhd-podi
psykologia
rss-liian-kuuma-peruna
kesken
rss-niinku-asia-on
rss-duodecim-lehti
ihminen-tavattavissa-tommy-hellsten-instituutti
rahapuhetta
aamukahvilla
rss-honest-talk-with-laurrenna
rss-luonnollinen-synnytys-podcast
rss-tietoinen-yhteys-podcast-2
rss-opeklubi
rss-vapaudu-voimaasi
nakokulmia-rikollisuudesta-irrottautumiseen
rss-arkea-ja-aurinkoa-podcast-espanjasta