I have always been impressed by casinos for both their beauty and their unique business model. Every time I go to the casino, the $500 Millionaire tells me all the time that he takes enough risks every day, why would he gamble at a casino. I always told him he didn’t understand and it was just different and just a fun time. For some reason, this weekend I have finally understood what he meant when he would tell me that gambling at a casino is just boring but if you want a big safe bet, look at you daily life. It is more fun, more rewarding, and you have a WAY greater chance of winning than any casino game.
Since I enjoy casinos, whenever this discussion would come up, I started bringing up all the different odds and expressed to the $500 Millionaire how certain games have bad odds but some games have better odds. The $500 Millionaire says that casinos only need to do one thing, they need to have a greater that 50% chance of winning and its customers need to have greater than 50% chance of losing. In order for a casino to become successful there needs to be more losers than winners. In life, the customer (You) never has to lose.
One term you will hear used in the casino industry is the Law of Large Numbers. This term is as real in life as it is on the casino floor. The Law of Large Numbers states that with enough events occurring, the outcomes of those events are predictable. This means on a game of chance, if you play long enough, over time, with enough bets, you should see a very predictable set out outcomes. With that being said, in a game of chance, like in the game of life, there is always a chance for you to win but there is usually an equal or greater chance for you to lose. When playing a game of chance, the more you play, the better you chances are of losing. In life it is different.
Now this is not a lesson on how to win in a casino but there is a strange correlation between a game of chance and the game of life. When you are at the casino, there are certain rules to each game. If you do not play by those rules, there is an even GREATER chance that you will lose or not win the most you possibly can. This is the same in life. Life has a very specific set of rules. If you follow these rules, you will have a much better chance to win. If you do not follow those rules, you have a greater chance to miss out on an opportunity or not reach your full potential.
So now it was starting to make sense to me. If I follow the rules, I will win but I was wondering why even when we follow the rules, we sometimes lose. The $500 millionaire reminded me that just like a game on the casino floor, life is a game of SOME chance but there is one main difference. On the casino floor, with any game assuming you wouldn’t cheat, there is no way for you to change the predictability or chance of an outcome. No matter how good your strategy, skill, and knowledge might be, you can never change the odds in a true game of chance. In life you can because life is not just a game of CHANCE, but instead a game of CHOICE. By your direct actions taken, you can better predict the outcome of a situation. You can have the odds in your favor if you choose. You can partially predict what will happen in your life.
Like a casino, the law of large numbers works out to be in your favor. In a casino game, with enough cards pulled, dice rolled, or numbers selected, the house has a better than 50% chance of winning. With the game of life, with the correct steps taken, over time, you will have a better than 50% of winning. Those are odds the $500 Millionaire will always take.
The concept here is that just because you do something right once does not mean you will get the outcome you want. You need to understand that just because you write you goals, read a book, submit a proposal; it does not mean you will get what you want. If you were to use Law of Large Numbers to your benefit like a casino does, the more times you continue to do something, the better the odds are that you will achieve it. If the Law of Large Numbers does not make sense to you, you can use the word persistence, if you are doing the right thing over and over again, eventually you will get the outcome you are looking for. It can happen the first time, or it can happen on the 10,000th time, but the $500 Millionaire is confident that with enough of doing the right thing, you will get what you want. Be persistent and understand it sometimes will work right away and sometimes you need to keep going to better your odds.
Always remember like the $500 Millionaire has told us in past posts that there are natural laws and you need to make sure you are doing the correct method and taking the correct steps to get what you want. If you take a ball and hold it out to the side and drop it, the ball will go down. You can do this a million times and until you use a different method, the ball will do the same thing. As you start working towards a goal, you want to modify your method as you go along to make sure it is a workable and successful method, once you know it is the best method, then you can start using the Law of Large Numbers (Persistence) in your favor.
Knowing what is the best method is not always easy to figure. Knowing what is right and what is wrong can also be difficult. There are tons of books and guides that will help you figure this out but the one thing that the $500 Millionaire has found to be the best way to get what you want is to find someone who has already done it. Find a mentor. If you find someone who has already done what you want done all you have to do is ask them how they did it. You might be surprised how many people will tell you the secret to their success. If it is a true success story, one thing you most likely will hear is that they had to do something multiple times before they were able to get it right.
Remember there will be times when you think you are doing everything right but for some reason you are not getting the outcomes you want. The first thing the $500 Millionaire would suggest is to re-evaluate your methods and once you see that it is not your methods (although it usually is your methods) then you need to understand that burning desire and unstoppable persistence (Law of Large Numbers) will get you whatever you might want.
Please feel free to pass this along to anyone who you know that could benefit from reading this. If you know someone who is just a good person but is having a hard time feel free to send them this.