There are many young generation people who find themselves visiting a casino, whether in Australia, Singapore, Macau or the land of casinos, Las Vegas. They somehow always engage in gambling but they’re cautious about the feeling that gambling may turn into addiction and hence they set a limit so that they don’t bet a penny more than that. If you’re of the notion that gambling is all about luck and the games are extremely simple, you’re wrong. You bet on a player or a banker and it gives you 50% chances to win in any way. This is when there came similarities between running a business and gambling in a casino. If you think you didn’t get the similarity between both, read to know how they’re related in their performance.
In both cases, you have to bet big at the perfect moments lest you lose it all
Experts suggest that in case of gambling, you just can’t keep betting the small amount which you have been betting for a long time now. In case you continue doing that, you won’t end up anywhere and since the odds have been stacked tight against you, you will eventually die a natural death. You’ve got to view the best opportunities and take chances of running for it.
This is similar to business as there too the odds are always kept against you just as that in the casino. You have a limited stock of capital in business and each penny has to count. If you keep on betting a safe amount without taking risks, odds will keep catching on you and you will soon start losing.
You need to have enough capital both in gambling and business
Your total capital amount seems to be extremely small as the total budget is $200 when each hand gives you a minimum of $50. With such low capital amount, there are high chances that you lose very fast and that you’re not offering yourself enough time to rise higher when there’s a high tide. If you’re someone who plans to play like that without any casino bonuses and promotions, you shouldn’t bother gambling as you would only be throwing away your dollars.
Such is the case with a business and rarely businesses make a lot of money immediately. Almost each day, we tend to lose money and the longer we wait, the longer we keep losing money. Hence, if we don’t have capital to wait through the odds and make money in good times, the business will prematurely die and it never gets a chance to ride the wave and get it back. If a business doesn’t have enough power to wait for the wave, it’s true we shouldn’t ever bother for it.
If you ponder the above mentioned 2 similarities, you will only conclude to think how gambling and businesses are alike. They both need capital, they both demand taking risks, rewarding risks and they both test your resolution and determination.