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What is your edge in the market?
By Dr Wealth  •  June 28, 2011
I came to realize casinos, insurance companies, lottery operators, and market makers are the ones consistently making a lot of money. As a young boy, my mum always taught me about “十赌九输”, which means you tend to lose 9 out of ten times in gambling. I have avoided gambling like plague and I thank my mum for that. Many Singaporeans love to buy 4D and go to the casinos. They are lured by big profits by risking a small amount of money. The risk-reward ratio of a first prize in 4D is 1:2000. It definitely look profitable by risking $1 to make $2,000. What about the probability of winning? Let’s just make the calculation to hit first prize and we ignore the starters and consolation prizes. The probability to win first prize would be 1/10000 and the probability of losing becomes 9999/10000. Now, here is the secret why Singapore Pools ......
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By Dr Wealth
Dr Wealth provides trusted financial education to individuals. We teach researched and actionable investment methods so that our graduates are successful in their investment journey and achieve market-beating returns.
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