Let me introduce you to one of the first American gambling events called TURNING STONE. It was so called because it was first developed by the American Indians hundreds of years ago.
Only in those days, real stones, flat stone were used. Each was marked with a number like these poker chips before you. There were six of them along with a rolling stone marked with six similar numbers.
This was the forerunner of what we today call dice. The idea was to bet on winning a special prize that was marked on the back of each stone. Through the years only a single prize was given like our demonstration today.
I’m going to give you the opportunity to win $500 with a single roll of the dice and it will only cost you one cent to try. You do have a penny, don’t you? Ok, you have 1 out of 6 chance to win.
Sure, I’ll let you play on credit!
Now you have a 1 out of 5 chance, that will cost you 10 cents to play.
Now you have 1 out of 4 chance, that will cost you$1 to play.
Now you have a 1 out of 3 chance, that will cost you $10 to play. Remember you could win $500.
Now you have a fifty to fifty chance to win, the cost to play is $100 but that’s still five times the return on your bet it you win.
Ok, I guess I get to keep the $500 bu instead of paying me for your gambling debts, just give me your SCALP … just kidding!