Study: connection between IQ and skill-based gambling

S

swinging tick

https://scitechdaily.com/study-men-with-high-iq-are-more-likely-to-do-this-unusual-activity/amp/

“Our research found a strong correlation between men with a high IQ and those who take part in skilled gambling, such as betting on horse racing. It is important to note that our findings can’t necessarily be generalised to chance-based gambling, such as gaming machines. However, there is very little previous research on the association between intelligence and skills-based gambling and so finding such a strong link is significant.”
 
Emphasis on just "gambling" not profitable gambling. Probably mostly those measured in the 2nd or 3rd tier of top intelligence leading to an overestimating of one's own abilities partly because misleading mental connections are made to other otherwise successful endeavors in life. Short story: not intelligent enough to realize that gambling longterm is a negative sum game, and instead thinking that when one is intelligent enough to get in and complete high level educations and other competitive pursuits in life one must be good at gambling as well.

swinging tick said:
https://scitechdaily.com/study-men-with-high-iq-are-more-likely-to-do-this-unusual-activity/amp/

“Our research found a strong correlation between men with a high IQ and those who take part in skilled gambling, such as betting on horse racing. It is important to note that our findings can’t necessarily be generalised to chance-based gambling, such as gaming machines. However, there is very little previous research on the association between intelligence and skills-based gambling and so finding such a strong link is significant.”
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go to any bridge, chess, backgammon tournament and you'll see above average minds, several option traders in those tourneys I noticed. Or compare texas holdem poker players to seven card stud or omaha hi low players
 
zdreg said:
What is the point? High IQ people like skilled gambling while maybe low IQ people buy lottery tickets?
"Different strokes for different folks."
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LOL\ skilled gambling;
i checked out % of horse track trends\LOL:D:DWonder why they did not publish the'' profitable'' gamblers??
 
High IQ people are more arrogant when it comes to thinking they can do things that most people fail at. At school they are doing stuff with ease that the other kids found hard.

When i first started trading i thought how hard could this be. I'm smart i should be able to figure it out. Arrogance (and naivety) on my part.

The trading game isn't very hard intellectually. But is is very hard emotionally.
 
spy said:
I'm not sure this is true. After all, there is something called the Dunning–Kruger effect... which might imply the opposite.
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"people with low ability, expertise, or experience regarding a certain type of task or area of knowledge tend to overestimate their ability or knowledge"

This is exactly what happens to people who attempt trading including smart people. They overestimate their ability, i did. High IQ people perhaps even more so than people who are no so smart.
 
I'm certainly not arguing that successful trading is easy. And, I agree that ability and intelligence are different; although I'm sure related to some degree.

What I'm skeptical of is your claim that a causal relationship exists between intelligence and arrogance. Can you back that claim with data that isn't simply anecdotal?

I'd actually guess the exact opposite... arrogance and intelligence are, to a great degree, mutually exclusive. All this is just my own intuition though.

Businessman said:
"people with low ability, expertise, or experience regarding a certain type of task or area of knowledge tend to overestimate their ability or knowledge"

This is exactly what happens to people who attempt trading including smart people. They overestimate their ability, i did. High IQ people perhaps even more so than people who are no so smart.
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