Why Statistical Principles Are So Hard to Follow

If this post was to end right where it begins, I’d answer the question posed by saying that statistical principles are so hard to follow because they go against human nature or they go against what is the manner in which we naturally interpret our environment. Obviously I’m going to go a little deeper with my exploration of this observation however, because this pursuit of building up as many passive income streams as possible is a relentless one.

We cannot stop until we’re satisfied that we have those seven or eight passive income streams the average millionaire is claimed to have, so one of these channels I’ve sought to explore is that of using statistical principles to uncover the money trail. This can be applied to just about any channel through which money flows, from how insurance companies determine the premiums they charge their clients to the strategy you should really be employing if you’re an avid gambler.

Let’s focus on the gambling strategy just for a moment, for this is where the battle between the strong force of human nature and proven statistical principle is at its fiercest, undeniably favouring the strong force of human nature over proven statistical theory and principle!

If you were a student studying Actuarial Sciences, Computer Engineering or any other degree course a part of which entails the Mathematical Statistics module, when it comes to the chapters covering permutations and odds, after your study thereof you will probably never play the lottery again. Okay, perhaps if you do continue to play the lotto you’ll only buy one ticket just so that you can say you’ve done your bit to take a shot at the big time, otherwise knowing the odds of winning from a statistical point of view will have you believing the lotto is nothing but a big waste of your time.

On the other hand however, consistently taking a chance in placing your bets over a selection of some casino slots you’ve chosen is a much better approach and it in fact is the best approach to putting yourself in line with a real chance of winning big and/or winning consistently. The operative word here is “consistency,” so it doesn’t matter how you choose the selection of slots you’re going to be betting on. What matters is that you place your bets using that same group of betting channels you’ve selected, even if you perhaps chose 5-10 slots based on a listing of the top Greek mythology slots or any other criteria.

Now this proves to be difficult in that it goes against the human nature of wanting to try out new things and explore opportunities beyond what you’ve become accustomed to, but going back to the statistical principles which have been proven by the greatest minds of before our time, consistency is what eventually pays off. That’s also where the difference between the likes of professional, successful gamblers and those of us who tend to bet more out of hope and a dependence on blind luck than anything else comes into play.

So perhaps you should just endeavour to train your basic instincts to be more accepting of proven principles than relying on established, habitual human nature. Opportunity beckons as a result!

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