Educating the next generation

[hobbyfrmr]

My 13 year old daughter was doing homework yesterday evening. She asks me "Dad, do you have a gambling addiction?"
I said yes. She asks why. I used the previously posted excellent example that I will spend more money than most people will save in a lifetime and put it in the ground then hope the weather will be agreeable enough to grow and harvest a crop that should be valued more than I planted to make our living.
She says "'ok I thought it was like casinos or vlt's"
I said casino games have measured odds of winning. Nature doesnt care if we win or not.
Then I went on to describe the fact that A person doesnt "win" at games of chance, they are designed for you to lose. Ie. Las Vegas, ga illion dollar city built in a desert.

[BreadWinner]

I thought organic farming was low risk?

[biglentil]

Vegas was built on a 1 or 2% house edge. Everything is a gamble the trick is too pick positive expectation bets and handle the bad beats well.

[pourfarmer]

low(er) risk.

[biglentil]

In farming the best payouts rarely exceed 3-1, 1-1 seems typical, and occasionally you get skunked. Common wisdom suggests never take insurance bad odds.

[cottonpicken]

The sheer Babylonian spectacle of it all demands you morally donate to the house. It would be like eating at a restaurant and running out on the bill. If you have never seen it you have never seen anything. Got to play poker with Bruce Willis last time.