Logic or Intuition? Decision-making for Gambling and Life
We can make better decisions in our futures if we reflect on how we’ve made successful ones in the past. Did I do better when I trusted my gut or my head? A great way to find out is to reflect on our gambling experiences.
A helpful thing to do for yourself is to reflect on whether you’re a more logical or intuitive person. Something like taking the Meyers-Briggs test can provide information. Another way: reflect on your gambling experiences.
I’ve been thinking about gambling over the last half week. I’m in my league’s fantasy football championship for the second time in three years and over the weekend, I went over to a friend’s and played cards.
Friday night I went over to my friend, Justina’s house. Before the holidays, I spent some time with her and her boyfriend, Aaron. We played cards. Oh, before that, she made Pho and it was incredible. I love pho!
I haven’t played cards in probably four years. I’d play Euchre with my cousin’s on Thanksgiving. Other than that, I’m not a card person. I’m not a gambler either. But I like winning. At Justina’s, we played Crazy Eights, Ride the Bus (not the drinking game kind), and Black Jack. At one point, Justina brought out a small briefcase of poker chips — you know the kind I’m talking about. She distributed them equally but, soon, I had a majority of the chips. Five stacks deep baby! Pretty soon I’m getting harassed with the nickname Bezos. It was a lot of fun. Also a really good lesson in economics and psychology. Once I accumulated all these chips, I took less and less risks. I could think much more long term.
I’ve dipped my toes in gambling a bit before. When I was 19, a group of us hung out in my friend’s shop. While it definitely wasn’t my first cigar, but it was my first time playing poker. I took everyone’s money—a grand total of $72.
A couple years later, when our last childhood friend turned 21, we went up to Potawatomi Casino in Milwaukee. I didn’t know much about the games so I played roulette. It seemed simple—it falls on red or black. So I bet $10 each round. Eight straight times I bet on black. Eight straight times it did not land on black. Seven on red and one on green. $80 just disappeared from my wallet. After that experience, I’m like, “This is not for me.”
Back in 2017, I filled out a March Madness bracket with a bunch of people. My bracket did well and it came down to who won the championship. If Gonzaga won, I’d win $600. If North Carolina won, I’d win nothing. Three weeks after the game I’m going to solo travel to Spain for vacation. First time I’d ever be out of the country. $600 would be so helpful. I was so anxious watching that game. I couldn’t even watch the game. I literally couldn’t—my emotions were so crazy. I paced all around the apartment and just peak my head inside the living room with the TV. I was a wreck. I had no control over the outcome. All I could do was watch and await the results. And Gonzaga lost. I’m still mad at Luke Maye, this guy off North Carolina’s bench who had the best game of his life. Go figure.
When I think about recent experiences, did I do better following logic or intuition? I did much better when people were involved. When I played actual people rather than the odds, I tend to win more. I can learn from that and apply it to the future.
As a more intuitive person, I can use logic to keep myself in check and prevent me from making really stupid decisions. That’s what I do in fantasy football for example. Go with my gut for the draft. Every Tuesday look over the new statistics and data from the weekend and make moves accordingly. Set my lineup and don’t stress. Because there are bragging rights involved—both my brother and brother in-law are in the league—there’s a personal element. I want to compete. When I go with how I feel, I’ll do well.
Figure out how you best make decisions. You’ll win more while gambling by choosing the right games to play and you’ll be able to make more confident decisions on the path of living your best life.