Thursday, December 15, 2016

Gambling: a matter of risk versus reward


    When you hear the word "gambling" you start thinking about casinos, and roulette wheels or maybe hands of poker. But, in real life, gambling is a matter of risk and reward. Crossing the street involves risk and the reward is getting to your destination across the street. Asking someone out for a date involves risk (emotional and, occasionally, physical) in the hopes of rewards of reciprocity of affection or friendship.
    However, gambling still is usually classified internally depending on whether one considers the risk to be voluntary or involuntary -- and reasonable depending on whether the chance of reward is sufficient to justify the amount of risk. If we think it is a high risk and does not require to be done then, and only then, do we usually call it gambling. So, games of chance are considered to be gambling but crossing the street is not.
    This isn't true of everyone. Jack Nicholson, in "As Good As It Gets", portrays someone who is all-too-aware of the everyday risks of life. He continually strives to eliminate risk by isolating himself and entering into rigid routines and being hyper-careful of hygiene and exposure. The rewards of everyday life are not enough for him to take these risks. He is "fortunate" to be able to cater to these attempted avoidances of risk because he has a lucrative occupation that allows him to do this. It is only when he sees a reward that is large enough that he increases his willingness to take more risk.
    Nicholson' s character is seen as abnormal because his awareness of risks is much greater than his recognition of potential rewards. The risks exist -- but so do the rewards that he cannot grasp. There is not a single, appropriate, balance even though there are certainly, within a given society, an expectation of being able to make "reasonable" judgements on such.
    For someone living in a war zone, the risks of doing anything rise and the potential rewards narrow. For someone with a dependable environment and financial basis, the risks seem smaller because the downside of failure is much less even if they don't achieve the hoped-for rewards.
    There are various phobias -- more specialized than those that Nicholson's character revealed -- that are still an out-of-balance reflection of the risk versus the reward. To Chicken Little, the sky may fall upon him if he goes out -- or to the agoraphobic. One person may be willing to work in high construction, balancing themselves on girders while another person may have difficulty getting onto a balcony.
    Life is a gamble. Being able to weigh the risks and rewards are more computable with games of chance than they are within everyday activities. But the risks must be taken to get to the rewards. It is part of life's journey to learn to make those decisions based on known risks and benefits.
    What risks do you see that outweigh the possible benefits?

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