Squares and Sharps, Suckers and Sharks

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 illusory – gambling, including betting and investing, is essentially random – yet 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 uncertaintyWhy gambling is often condemnedThe difference between expectation and utilityThe irrationality of human beingsEvolutionary perspectives on gamblingLuck and skillMarket efficiency and the wisdom of crowdsWhy winners take allCheatingWhy the process matters more than the outcome