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Becker Private Equity & Business Podcast
Golfing & Betting Like a Moron 6-30-25
00:03:30
In this episode, Scott Becker shares a personal story of a tough day on the golf course filled with questionable bets.
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This is Scott Becker with the Becker Business podcast in the Becker Private Equity Podcast. And hopefully there's a lesson in here someplace. Today's discussion is golfing and betting like a. So, so here's the deal. You know, played in a foursome yesterday in golf and bear with me for those that are not golf fans, but hopefully some of this is sort of worth taking home and translating into business lessons. So we have three different games going in this foursome. One a one on one game against the guy who's a much better golfer than I am. But I sort of banking on him not playing to his handicap and me doing well. In any event, that game is played at $10 a hole. He's a six index. I'm much worse than that. The next game that I've got going in this foursome was with a guy who's got a 20 index. And yes, his handicap is real and it is very real in him. I'm playing $1 a hole because that's what we play for. It's more about pride than it is money. So I've got the $10 going, the $1 going. Then we've got a scotch game going as well, which is a convoluted way of, of playing, you know, team low. Do you get procs, birdie, blitz, combined, etc. Etc. In there as well? So the ultimate outcome here is I out off the guy that's got the horrendous handicap. And yes, his handicap is real and clearly real, and I'm picking up constantly $1 a hole against him. The flip side is I am losing to the guy who I'm playing against for $10 a hole and, and constantly taking it on the chin there. So net, net many holes. I'm losing $9 a hole plus losing in the scotch game. My partner somewhere through the round ends up with a thumb injury of some sort. God only knows what caused that. So, so this ends up being an. It's not a crazy expensive day, but it's a, a morally, you know, a morally difficult day, a challenging day. And here's the lesson. Here's the lesson. There's an old lesson in blackjack. In blackjack that you're not betting on yourself really. You're doubling down when the dealer has a bad face card showing. So when they have a 3, 4, 5, 6 showing, that's when you're doubling down because they are likely to bust. So a similar lesson here would be that if you're going to gamble, if you're going to gamble, don't gamble for higher stakes against the better golfer. That would be dumb. Really. Pick who your mark is and raise the stakes against that person who will remain nameless. But first name is Jim and and don't bet heavily against scout with the great handicap Gary who is playing out of his mind. He's playing at a six something handicap and played better than that. It was a very, very difficult and challenging day. It's even when he drove poorly, he made shot after shot to scramble well and protect a tremendous round. So there's a lesson there. It's very similar to a lesson in business. Double down on your good investments. So things that are working, things you're going well. Double down on your best customers, double down on your best people. Don't spend a lot of money going after things that you can't win or hard to beat. It was one of those days. It was discouraging but full of education. So it is what it is. Thank you so much for listening to the Becker Business and the Becker Business and Private Equity Podcast. Thank you.