What are the odds?

How to Lend Money to Strangers

Brendan le Grange

Credit, Fintech, Management, Lending, Banking, Business, Careers

5 • 2.6K Ratings

🗓️ 30 June 2025

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

I've just added a new section to the website, featuring affiliate links to all the books written by the great guests we've featured on this show - https://www.howtolendmoneytostrangers.show/recommended-reads. If you scan that list before you listen to this show, you'll find among them Dr Michael Orkin with What Are the Odds? and Probability & Statistics Made Interesting. Dr. Orkin is a statistics professor and consultant, and a nationally known authority on probability and gambling games who has appeared on numerous TV and radio shows, on various conference stages, and, of course, on the cover of several books.

So I was delighted to chat to him, not least of all because I've recently started teaching analytics myself and, in the process of designing my course, started to fall back in love with some of the quirks and nuances of probability.

You can find Dr Orkin on LinkedIn at https://www.linkedin.com/in/dr-mike-orkin-5600584/

I am on LinkedIn, too, at https://www.linkedin.com/in/brendanlegrange/ as is the show https://www.linkedin.com/company/how-to-lend-money-to-strangers

Commercial partners include (when you click one of these affiliate links, I earn a small commission but you won't pay a cent more)

ProtonVPN Browse privately with a community-owned secure VPN that safeguards your privacy. https://go.getproton.me/aff_c?offer_id=26&aff_id=12767

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Friends of the show include: https://www.ontap.co.za/pages/hoedspruit-store-details (for all your Hoedspruit-based bathroom needs), https://www.joinhumoni.com, and https://chaos-out-of-order.com/

And since you like podcasts, I'm also co-create hAIghtened senses with Christo van Zyl, in which looks at the intersection between human senses and technology

Keep well, Brendan

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Transcript

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0:00.0	Hey, it's Jay Humphrey here, host of High Performance. We're currently sponsored by London Business School.
0:05.4	London Business School is a place where learners from around the world come together to learn, grow,
0:10.0	and challenge convention. It's a community that believes real progress comes from embracing
0:14.5	difference because when we share ideas, we find better ways forward. LBS believes that difference
0:20.4	drives progress.
0:22.3	Find out how bringing together unique perspectives
0:24.5	creates real change.
0:26.4	Search London Business School or visit London.edu.
0:32.4	Banks like to avoid risk.
0:35.0	And so one of the problems in my area of consulting, in order to get a gambling
0:40.4	app online, you have to satisfy the banks because the banks don't like to deal with these weird
0:46.4	events that seem to happen more uncle with compulsive gamblers, namely they go broke and can't pay
0:51.3	their debts.
0:57.2	What are the odds?
0:59.1	Welcome back to How to Land Money to Strangers with myself, Brendan LaGrange.
1:03.7	Now, alongside this and the several businesses I'm helping to build at the moment, I have
1:08.8	also started to teach business analytics at the Holt
1:11.9	International Business School here in London. And in preparation for my classes there, I had to
1:17.4	open up a few textbooks that I maybe unread in a little bit too long a time and reintroduced
1:23.5	myself to some of the more nuanced pieces of mathematics that sit behind the predictive models I've become so comfortable with.
1:31.0	And it's just maybe even more excited about the subject.
1:34.7	Too often we get lazy and think about things as averages that will work themselves out as long as we have enough customers.
	...

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