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Why Taking Risks Is Worth It

FantasyLabs’ Jonathan Bales takes chances every day—this is how he defines risk.

Walking through a party at the posh W Hotel in Beverly Hills, California, Jonathan Bales is repeatedly approached by strangers from all over the country. They’ve read his books. They subscribe to his company’s website. They carefully consider every word he puts into the ether. Some practically swoon at the chance to shake his hand.

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Do winning and losing

feel the same after a while? They are the same.

Do winning and losing feel the same after a while?
“They are the same,” he says.
If you know the odds and payouts, make value wagers and account for variance, and play the same way, then over a long-enough time, the probabilities play out. And over time, a win today is the same as a loss tomorrow.

Eventually the conversation winds down, and it’s time for bed. Bales has a big day tomorrow.

The next morning, professional baseball players wake up all over the country, ready to play. The daily fantasy players wake up and check for any last-minute roster adjustments. By 10 a.m. Bales is looking at weather reports on the East Coast and pulling up radar images on his computer. Large summer storms near a few different ballparks could affect several games.

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