I enjoyed reading your literal interpretations of this song. =) I'd like to offer a subjective, figurative interpretation of it.
I believe that the gambler, a wise elderly man, offered advice to a young man who was driven by feelings. The wise man used a metaphor to explain that prudence does not make decisions based on feelings, but consistently responds, cautiously, with good judgment. There is a correct and incorrect way to handle situations, the outcome is dependent on the handling of it; impulse or right reason.
Lastly, the young man learned from the wise man's advice and implemented it.
I enjoyed reading your literal interpretations of this song. =) I'd like to offer a subjective, figurative interpretation of it. I believe that the gambler, a wise elderly man, offered advice to a young man who was driven by feelings. The wise man used a metaphor to explain that prudence does not make decisions based on feelings, but consistently responds, cautiously, with good judgment. There is a correct and incorrect way to handle situations, the outcome is dependent on the handling of it; impulse or right reason. Lastly, the young man learned from the wise man's advice and implemented it.