Doug Polk is one of the best poker players in the world. Luckily for poker players and fans of the game, he also hosts one of the most widely viewed YouTube Channels around. I’m a big fan of this channel and highly recommend it to anyone who is interested in poker, gambling or investing.
However, I must humbly disagree with Doug as he and many others like him consider themselves to be “professional gamblers.” I consider them to be professional investors, not gamblers.
A professional, by definition, earns enough money at their profession to support their lifestyle.
A gambler, by definition, wagers on uncertain outcomes that often consist of a negative expectation.
An investor, on the contrary, invests (or wagers) on uncertain, nearly certain, and sometimes exactly certain outcomes, that mainly consist of positive expectation.
It seems to me that the term “professional gambler” is an oxymoron. Or just describing someone on a lifelong heater!
Doug and his peers take calculated risks that may not always return a profit but over time their risks are rewarded with enough income to maintain their lifestyle. Whether they realize it or not they are not very different from a real estate investor or a stock trader.
Check out Doug’s channel, you won’t be disappointed!
Discover more from logical thinking in an illogical world
Subscribe to get the latest posts sent to your email.
