Scared Money Don’t Play

My husband (M.) recently told a story of an experience he had when working in New York City many years ago.  While exiting Grand Central Terminal to head to his office job, he encountered a game of three-card monte.  After watching the apparent success of another individual, M bet $20 only to quickly lose his investment.  While contemplating an additional investment, the operator of the con wouldn’t take M’s money, stating that “scared money don’t play.”  During M’s contemplation of another investment because, of course, now there is a principle involved, the con spotted the police.  Both he and his partner – the winner observed by M. – quickly picked up their equipment and fled for greener pastures.  This was a lesson M. has not forgotten and uses the term in some of his decision-making.  An odd but true lesson in how fear can paralyze one’s decision making.

“Scared money”  is defined by PokerZone.com as a player who is so nervous about losing that the player’s decision-making is negatively impacted.  I don’t believe this to be an uncommon situation in other areas where decision-making – and the accuracy of decision-making – requires a steady hand and clear mind.  Dictionary.com defines fear as a distressing emotion aroused by impending danger, evil, pain, etc., whether the threat is real or imagined. Therefore, whether fears are real or not, they contain the same distress regardless of the fiction attached.  How many fears do each of us live with that have the same realism as an episode of “Lost“? Is there a way to determine which way to turn when life presents multiple options?  Many of us choose the less fearful route and we never even realize that the basis of the decision was flawed and actually limited us from the possibility of more.  Playing with scared money – or letting the fear guide our decision-making – may reduce the pay-out because we make our decision based on what might happen, setting up the possibility of another regret.  

This is not to say that, when the facts present you a situation, you go running against sound judgement. Good emotional intelligence skills and the ability to recognize the validity of a fearful emotion, can combine to create an environment for sound decision-making.