The Calculus of Probability Is Not a Gambler's Guide

It is a serious mistake to believe that the calculus of probability provides the gambler with any information which could remove or lessen the risk of gambling. The lure of gambling consists precisely in its unpredictability and its adventurous vicissitudes. Cool reasoning must show the gambler that he does not improve his chances by buying two tickets instead of one. He would certainly lose a part of his outlay if he were to buy all the tickets, yet every lottery customer is firmly convinced that it is better to buy more tickets than less.