Risky Business Test Review

The odds of winning most games are

In favor of the Sponsor, Not the Player

People at _____ income levels use a larger percentage of their

income to buy lottery and scratch tickets than people at

_____ levels of income

Lower / Higher

If you increase the number of times you gamble, you will

improve your _____ of winning.

Probability

To improve your odds of winning, which games should you play?

Blackjack / Poker

_____ implies that you have some knowledge about outcome

of your choices.

Predictability

Money used for gambling should be _____ as entertainment and

not needed to pay bills, buy food or other necessities.

budgeted

The outcome of one event affects the outcome of another, changing the probability of the

second event – playing Powerball

Dependent

_____ is the likelihood that something will happen

Probability

What are most gaming activities based on?

LUCK

What is investing in the stock market a form of

Predictability

Why is investing in the stock market a form of predictability?

Because you have knowledge abut the choices you are making

If you are always bragging about your gambling activities and you

spend quite a bit of time gambling, you are

Addicted to Gambling and Need Professional Help

What is an opportunity cost?

Your Second Best Choice

What is an example of an opportunity cost associated with

gambling?

Not Being Able to Put The Money You Spent Gambling in Your

Savings Account