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)

149: Be Empowered to Claim a Meaningful and Fulfilling Life with Misha Rubin

149: Be Empowered to Claim a Meaningful and Fulfilling Life with Misha Rubin

"Where you work should be aligned with your career values, and what you do should be aligned with your strengths." -Misha Rubin   Is your career going the way you wanted it to be? Many people chose to...

23 Kesä 202137min

148: How to Recover From Sex Addiction: Heal Your Inner Child with Eddie Capparucci, Ph.D.

148: How to Recover From Sex Addiction: Heal Your Inner Child with Eddie Capparucci, Ph.D.

"Part of what we need to do is not just to deal with the behavior problem, but we have to transform the heart." -Eddie Capparucci, Ph.D., LPC   Sex Addiction, like any other form of addiction, is disr...

16 Kesä 202134min

147: Find Your Dynamite and Ignite Your Inner Power with Tim Whitmire

147: Find Your Dynamite and Ignite Your Inner Power with Tim Whitmire

"The finish is still way too far even to start thinking about it. It's your mental toughness and your ability to keep pushing through that, that will win or lose the race."  -Tim Whitmire   Tim Whitmi...

9 Kesä 202138min

146: Be Dissatisfied with Your Satisfaction with Bobbi Kahler

146: Be Dissatisfied with Your Satisfaction with Bobbi Kahler

"Change is part of how you go from pursuing your dreams to achieving your dreams. If you're not achieving your dreams right now, that means something has to change." -Bobbi Kahler   Never let people s...

2 Kesä 202131min

145: How to Eliminate Financial Burnout with Chad Willardson

145: How to Eliminate Financial Burnout with Chad Willardson

"Compound interest in growth is what saves the day in the future. You can't make up for those lost years." -Chad Willardson   According to a study conducted by the American Psychological Association (...

26 Touko 202134min

144: How to Build Your Vision with Kisha Edwards-Gandsy

144: How to Build Your Vision with Kisha Edwards-Gandsy

"Build your vision, not your business." -Kisha Edwards-Gandsy    What's your vision like? This week, Ted and Kisha Edwards-Gandsy teaches how to build your vision, nurture your vision, and live your v...

19 Touko 202136min

143: See Yourself in Greatness with Victoria D'Ambrozio

143: See Yourself in Greatness with Victoria D'Ambrozio

"A perfectionist is not someone who does things perfectly, but rather is someone who is ashamed that they are not perfect… Separate your worthiness from any accomplishments or failures. You have to un...

12 Touko 202135min

142: What Leadership Looks like When It's Lived Throughout Your Life with Barry Ball

142: What Leadership Looks like When It's Lived Throughout Your Life with Barry Ball

"Lead by example. Something so simple could be applied time and time again, throughout the different levels that are reached. Be the standard and inspire others to do the same." -Barry Ball    What ma...

5 Touko 202131min

Suosittua kategoriassa Koulutus

rss-murhan-anatomia
psykopodiaa-podcast
voi-hyvin-meditaatiot-2
rss-niinku-asia-on
kesken
rss-liian-kuuma-peruna
rss-narsisti
adhd-podi
psykologia
rss-duodecim-lehti
ihminen-tavattavissa-tommy-hellsten-instituutti
rss-psykalab
aamukahvilla
aloita-meditaatio
rss-honest-talk-with-laurrenna
rss-luonnollinen-synnytys-podcast
rss-tietoinen-yhteys-podcast-2
rahapuhetta
puhutaan-koiraa
rss-elamankoulu