Gambling and the Tale of Icarus and Daedalus

Gambling is an activity where a person wagers something of value -usually money- on a prediction, usually with the intent of gaining something more valuable in return -such as more money. An assumption is made that something is to happen in a particular way, and should the assumption be incorrect, a penalty is paid, or the initial amount that a person has wagered is considered forfeit.

From this simple concept, a large number of gambling games have developed. Today, casinos and other gambling establishments offer such games as roulette, craps, solitaire, blackjack, poker, and Baccarat. Gambling has become a multi-billion dollar industry, becoming a great source of economic progress for many places, notably, Las Vegas, Atlantic City, Macau, and Monaco.

Gambling has been around for centuries. Numerous references to gambling have shown up in the different literary and oral traditions of the world. The tale of Daedalus and his son, Icarus, for example, can be considered a sort of moral lesson for gamblers.

The story begins with Daedalus, a master craftsman who had been imprisoned, along with his son, in a tower by king Minos of Crete. In order to escape, Daedalus constructs a pair of wings made from wax and feathers. Their attempt to escape is already a gamble in itself: the father and son had not been able to test their means of escape. This gamble pays off though, when they successfully escape from the tower. Daedalus warns Icarus not to fly to high, because the sun would melt the wax that holds the wings together, but when Icarus, buoyed by the thrill of flight, disobeys his father. He decides to take another gamble and soar even higher. And true enough, Icarus's second gamble doesn't pay off, and like an overconfident Texas Hold'em poker player who goes all in with his winnings, the heat of the sun melts the wax on his wings, and he plummets to his doom.

In this particular Ancient Greek myth, we can see two different kinds of gamblers, and two very different methods of playing. Daedalus, the father, is the more experienced kind, who is more conscious of the risks involved in wagering, and possesses the skills to construct an effective strategy for victory. He is also able to place limitations on himself and knows how to stop going back to the roulette wheel or poker table before he loses all that he has won. Icarus, on the other hand, is a rash, more inexperienced sort of gambler, who places almost all of his faith not in his ability to wisely manage the variables within his control, but on the unpredictable caprices of fortune.