Gamblers

[4est_4est_Gump]

But I like risk-taking. In a lot of ways.

I used to, but with all the successful outcomes, I'm starting to feel the odds might catch up.

 

[toubab]

I used to, but with all the successful outcomes, I'm starting to feel the odds might catch up.

I'm resigned to the fact they will catch up. It's just a matter of when.

 

[4est_4est_Gump]

 

[RobDownSouth]

I used to, but with all the successful outcomes, I'm starting to feel the odds might catch up.

One would think that with all the disasterous outcomes in your life..as a husband and provider, a father, and an employee....you might welcome a "successful outcome" for once, if only for the novelty value.
:nods:

 

[jacktar48]

But I like risk-taking. In a lot of ways.

I will take risks, but only when I'm convinced that the odds are in my favor.

The odds are rarely in your favor at a casino, unless you are one of the unusual individuals who can count cards. I once thought I could do that. I was wrong.

Also I found that when I started winning, even though it was mostly by accident, some unfriendly-looking individual in an expensive suit would come and stand behind me, and if I continued to win the table would be closed down.

They used to give out a few "match-play" coupons at some of the Vegas casinos. I would always use those and then quit. They didn't like that much either.

Where I got screwed was in the stock market. Several years ago I became convinced that banking stocks were undervalued. I did a lot of research and it seemed that the analysts agreed with me. Some of these, like B of A and City Bank were selling at or below book value...how could you lose?

George and Dick showed me how I could lose...and then the banks got bailed out with my tax money and I got reamed.

I no longer think the stock market is any less rigged than the casinos.

 

[4est_4est_Gump]

Zandi's model is what fucked you...

 

[Adre]

You'd feel a lot better if you had picked Wells Fargo.

 

[RobDownSouth]

When I lived in Georgia, the local paper ran a local-kid-does-good story about a kid who had just turned 21, had an incredible run at a national poker tournament and won something like $175,000 in one weekend.

A lot of kids began questioning whether or not college was worth it...

Two years later that same kid declared personal bankruptcy and moved back in with his parents.

 

[toubab]

I will take risks, but only when I'm convinced that the odds are in my favor.

The odds are rarely in your favor at a casino, unless you are one of the unusual individuals who can count cards. I once thought I could do that. I was wrong.

Also I found that when I started winning, even though it was mostly by accident, some unfriendly-looking individual in an expensive suit would come and stand behind me, and if I continued to win the table would be closed down.

They used to give out a few "match-play" coupons at some of the Vegas casinos. I would always use those and then quit. They didn't like that much either.

Where I got screwed was in the stock market. Several years ago I became convinced that banking stocks were undervalued. I did a lot of research and it seemed that the analysts agreed with me. Some of these, like B of A and City Bank were selling at or below book value...how could you lose?

George and Dick showed me how I could lose...and then the banks got bailed out with my tax money and I got reamed.

I no longer think the stock market is any less rigged than the casinos.

I find it funny that some people say they never gamble with their money, but play the stock market instead.

 

[RjThoughts]

My wife and I went to Atlantic City for our 25th wedding anniversary. Went to Caesar's Palace when Trump Plaza decided to bump us out of our room two weeks before our reservation.

She enjoyed the ability to play penny slots at 3 AM, when she woke up and couldn't get back to sleep. We spent only the money budgeted for gambling: $200 each, though she "lost" only $22 of it overall, while I returned with $650 more.

We go to Turning Stone once in a while for a few hours, spending money($40 each but I've yet to lose it all) at the cousin nation's casino - and having a comped buffet - before we head to Destiny USA mall in Syracuse.

 

[RjThoughts]

I find it funny that some people say they never gamble with their money, but play the stock market instead.

I never gamble with money I'm not afraid to lose, usually the money I've saved from bringing my lunch to work instead of buying it.

 

[toubab]

I never gamble with money I'm not afraid to lose, usually the money I've saved from bringing my lunch to work instead of buying it.

I'm guessing you meant money you're afraid to lose. That's called scared money, and it's hard to win with it.

 

[RjThoughts]

I'm guessing you meant money you're afraid to lose. That's called scared money, and it's hard to win with it.

No. I use only the money I can afford to lose. I'm not a professional gambler. If I was, I'd play pool, which I was VERY good at. Cards, video slots, etc, they're an adult equivalent to arcade games, to me.

 

[Colonel Hogan]

I enjoy craps on the few occasions I've been in Vegas or Atlantic City. It's the only table game I know how to play correctly (staying away from the really big sucker bets). When a table is hot you can win a lot of money pretty quickly.

I know I'm not addicted because there are two casinos one state over and I've never played either of them in the eight years I've lived here.

 

[RedAllan]

I like to play Black Jack but don't have any feelings about having to, when I do I set a limit that I can afford to lose, when it's gone I walk away. There have been times when I walk away with a profit. Once at a friends stag night I came out the casino so far ahead the whole night, including my hotel was covered and a tidy bit in my pocket. But I don't think I'll get rich.

I used to get reliable horse racing tips but rarely put more than a few quid on, still sticking to my rule of only betting what I could afford to lose.

But even when I have a bet I can't get excited about the actual gamble.

 

[Que]

I enjoy craps on the few occasions I've been in Vegas or Atlantic City. It's the only table game I know how to play correctly (staying away from the really big sucker bets). When a table is hot you can win a lot of money pretty quickly.

I know I'm not addicted because there are two casinos one state over and I've never played either of them in the eight years I've lived here.

As a math nerd type, I would of course avoid anything obviously stupid. I figure Blackjack is close enough to even odds to make it a reasonable entertainment. I confess I don't know enough about craps to play, much less what the odds are for any given bet. a pair of dice yields 36 possible combinations, seven being the most common sum, but beyond that I hadn't really considered it from a strategy standpoint.

I should look at it. If others are betting poorly, does that improve your chances...is it winner take all?

I'm slowly adding to my list of vices after a puritanical first half of life.

 

[toubab]

As a math nerd type, I would of course avoid anything obviously stupid. I figure Blackjack is close enough to even odds to make it a reasonable entertainment. I confess I don't know enough about craps to play, much less what the odds are for any given bet. a pair of dice yields 36 possible combinations, seven being the most common sum, but beyond that I hadn't really considered it from a strategy standpoint.

I should look at it. If others are betting poorly, does that improve your chances...is it winner take all?

I'm slowly adding to my list of vices after a puritanical first half of life.

Blackjack is my favorite casino game, but there are usually people at the table who don't know how to play, and it screws your game up when they hit when they should stand, etc.

 

[girlsmiley]

I couldn't even imagine. I lose five bucks and I'm ready to walk out of the casino. I'd rather hit up an arcade and play skeeball.

$5 you say?

80-year-old man turns $5 punt into $100k

"An 80-year-old Masterton man who punts "to keep his brain active" has pulled off one of New Zealand racing's greatest ever bets.

He correctly predicted the winners of eight races at the Christchurch greyhounds at Addington last night, outlaying just $5 at his local pub on fixed odds to return a staggering $111,565 --- at odds of 22,112 to 1."

http://www.nzherald.co.nz/sport/news/article.cfm?c_id=4&objectid=11319624

 

[girlsmiley]

Last melbourne Cup I put a bet on for kbate.

Trifecta. She picked 2 from 3.

Nearly won $60k. So close it was crazy.

That girl knows her horses. It was fun.

 

[RjThoughts]

I live 50 miles from Saratoga, GREAT old race course. It's more fun to people watch and watch the horses run than it is to bet.

 

[toubab]

$5 you say?

80-year-old man turns $5 punt into $100k

"An 80-year-old Masterton man who punts "to keep his brain active" has pulled off one of New Zealand racing's greatest ever bets.

He correctly predicted the winners of eight races at the Christchurch greyhounds at Addington last night, outlaying just $5 at his local pub on fixed odds to return a staggering $111,565 --- at odds of 22,112 to 1."

http://www.nzherald.co.nz/sport/news/article.cfm?c_id=4&objectid=11319624

There's hope for me yet. I've been trying to win a hundred grand on one bet at the track for a couple of decades. I've come within inches more than once, but losing by an inch is still a loss.

 

[Que]

$5 you say?

80-year-old man turns $5 punt into $100k

"An 80-year-old Masterton man who punts "to keep his brain active" has pulled off one of New Zealand racing's greatest ever bets.

He correctly predicted the winners of eight races at the Christchurch greyhounds at Addington last night, outlaying just $5 at his local pub on fixed odds to return a staggering $111,565 --- at odds of 22,112 to 1."

http://www.nzherald.co.nz/sport/news/article.cfm?c_id=4&objectid=11319624

Interesting. I don't pay much attention to odds, because if they are not 1:1 I assume I will lose and don't bet.

Those odds are quite generous compared to say the lottery. I guess off the top of my head though the odds of the same guy winning the same bet a second time in his lifetime is up there in lottery territory.

The pay-off versus odds above suggest that if you had the mechanics to place all 22,112 possible permutations at $5 each you would lose money, but not much.

I would have thought dog racing is much worse odds. Kind of makes sense now that people go to the track. Over time they lose, but with fairly close odds to payout, when you do win it would sure feel like it covered past losses.

I really need to reconsider the entertainment value of gambling. Yes I know, a nerdy thing to say, but I really can't imagine winning often enough to enjoy it. I am probably wrong about that.

 

[jacktar48]

I find it funny that some people say they never gamble with their money, but play the stock market instead.

In theory, "investing" and "gambling" are two different things...

But there are plenty of opportunities for pure gambling in the market. Leveraged index funds, for example. You can bet whether the Dow will rise or fall on any given day; on any given minute, actually, which is pretty much equivalent to flipping a coin.

I'm disgusted with the whole thing, personally, but you have to do something with your money. The banks certainly aren't paying enough interest to say so. I've put a lot into stocks that pay good dividends, but it's still gambling. The scum in Washington are still skimming off the top, via their "blind" trusts, which in fact are not even visually impaired, and in any case you're betting that someone won't orchestrate an enormous fraud such as what happened with banking, among other hazards.

I guess if I die with more than two cents to my name I win. That's really not all that comforting, but I don't see many options out there.

 

[toubab]

In theory, "investing" and "gambling" are two different things...

But there are plenty of opportunities for pure gambling in the market. Leveraged index funds, for example. You can bet whether the Dow will rise or fall on any given day; on any given minute, actually, which is pretty much equivalent to flipping a coin.

I'm disgusted with the whole thing, personally, but you have to do something with your money. The banks certainly aren't paying enough interest to say so. I've put a lot into stocks that pay good dividends, but it's still gambling. The scum in Washington are still skimming off the top, via their "blind" trusts, which in fact are not even visually impaired, and in any case you're betting that someone won't orchestrate an enormous fraud such as what happened with banking, among other hazards.

I guess if I die with more than two cents to my name I win. That's really not all that comforting, but I don't see many options out there.

I have a feeling the market will fall again within the next year. We shall see.

 

[toubab]

Interesting. I don't pay much attention to odds, because if they are not 1:1 I assume I will lose and don't bet.

Those odds are quite generous compared to say the lottery. I guess off the top of my head though the odds of the same guy winning the same bet a second time in his lifetime is up there in lottery territory.

The pay-off versus odds above suggest that if you had the mechanics to place all 22,112 possible permutations at $5 each you would lose money, but not much.

I would have thought dog racing is much worse odds. Kind of makes sense now that people go to the track. Over time they lose, but with fairly close odds to payout, when you do win it would sure feel like it covered past losses.

I really need to reconsider the entertainment value of gambling. Yes I know, a nerdy thing to say, but I really can't imagine winning often enough to enjoy it. I am probably wrong about that.

If you're thinking about betting on horses or dogs, you need to learn how parimutuel wagering works.