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Old 09-06-2020, 07:27 AM
 
Location: USA
3,628 posts, read 1,620,187 times
Reputation: 10559
Quote:
Originally Posted by rummage View Post
Anyone who has studied probability in math class would understand to never gamble. I personally don't see the entertainment value in it. I knew a guy who took one of those casino (whatever they are called) cruises and he lost so much money, he was embarrassed to say how much it was. I asked him why, and he said there was nothing else to do on the ship. I felt sorry for him.
To many people, gambling is entertainment. To many people, opera is entertainment. Isn't it a wonderful world!
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Old 09-06-2020, 08:30 AM
 
23,017 posts, read 17,099,485 times
Reputation: 18070
Quote:
Originally Posted by Lillie767 View Post
To many people, gambling is entertainment. To many people, opera is entertainment. Isn't it a wonderful world!
Yeah I’m not running future value or expected value calculations on movie tickets or a vacation
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Old 09-06-2020, 05:08 PM
 
Location: Victory Mansions, Airstrip One
4,892 posts, read 3,093,708 times
Reputation: 5812
I know someone who goes to Las Vegas once a year for 3-4 days. I’ve been with him on a couple of those trips so I’ve seen how much he tends to have on the table. And he does gamble quite a lot of each day. Knowing the house advantage of the game he plays, I’ll estimate he’s lost tens of thousands of dollars over the years, and possibly over $100k.

I enjoy playing craps, but it takes more money to play it for very long than I’m willing to commit, at least with the table minimums at the casinos directly on the strip. Blackjack is supposed to be one of the best games to play from an odds point of view, but I find it too tedious to enjoy.
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Old 09-07-2020, 01:05 PM
 
Location: East Coast of the United States
22,113 posts, read 23,318,123 times
Reputation: 18724
I like to pretend I am that man wearing the expensive suit with a cigar in his mouth and walking around with two gorgeous women on each side.

What a fantasy.
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Old 09-08-2020, 10:58 AM
 
Location: Grosse Ile Michigan
29,480 posts, read 71,203,587 times
Reputation: 36580
I do not know the details but my wife's family was an extremely wealthy Boston publishing family at one time. The brother in some generation gambled it all away. He had both a gambling problem and a drinking problem. I think it was her great grandfather's generation that lost the family fortune. Later, their family was basically middle middle class (until her father came along with a PhD in chemistry and bumped up to upper middle class), but they had a lot of really high end antiques from the good old days. We inherited a few of them including a sword cane which is really neat and a candle table from the 1700s or late 1600s.
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Old 09-08-2020, 12:16 PM
 
9,962 posts, read 13,972,358 times
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I don't have any horror stories, but I've probably lost ~10K over the course of my lifetime, playing in various casinos, sportsbooks, online gambling, etc. Maybe less. I won a fair amount of the time.

Losing the 10K didn't affect my life at all, and winning 10K wouldn't have affected my life at all either.

Gambling is predominantly an activity by young men in their 20s. YOU may think it's a waste of $, but I always had multiple groups of friends to go to AC or Vegas with, and it was usually a very good time. With most of my friends, we would pair it with doing drinking, watching sports and attempting to hit on women. But I was also serious enough that I took solo trips and trips with buddies for gambling and gambling alone. I can't recall any young women that I knew that were serious gamblers...

The senior thing I don't know about, I see them there, but I'm not sure of the appeal for them.

Beyond the social aspect, the best way I would describe the appeal is ... there's a good chance if you played like I did ... betting $25-50 a hand in blackjack which is not a crazy amount to risk, that you could win $1500-2000 over the course of a night. I had that happen a number of times, and that is a good amount of $$ for a young guy, so... my friends that bet a little more could easily win $4000-5000.

Of course, it goes without saying I also lost that much a number of times.

The appeal for me isn't the same as I've gotten older because now that I've seen the way that $$ works ... even if I win $30,000, it's not going to REALLY affect my life.

OTOH, if you could find a casino to take the bet and could put your life savings on black or red ... you could possibly knock 10-15 years off of working if you trust the flip of a coin. Now ... THAT is good odds.

Thinking like that makes a gambler...
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Old 09-08-2020, 12:24 PM
 
9,962 posts, read 13,972,358 times
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Quote:
Originally Posted by Lillie767 View Post
To many people, gambling is entertainment. To many people, opera is entertainment. Isn't it a wonderful world!
Gambling is pretty much the basest entertainment, one of the oldest forms. If you really think about it, it is a little non-sensical in grand scheme of things ... but so is being so tight-wad that you won't risk $200 to win $200 when you make 110K a year.
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Old 09-08-2020, 01:26 PM
 
Location: MIAMI FLORIDA
105 posts, read 72,296 times
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It's even worse if you win...big....like I did...then lose it all..and a lot more....Like I did.
20 years later I'm still paying the price for it...The damage is done never to be rectified.
When you drink or do drugs,even before the next day's hangover...you begin to feel the physical
side effects...the sour stomach....the headache....
When you are gambling,specially when you're up.....man!...all you feel is the rush......
The next day is just the guilt and self-hatred that you weren't smart enough to get up from the machine when you were up...and didn't stop until you lost the winnings and everything else you had.
I still want to gamble..even after self-help and popular group help institutions..I just don't have the money anymore.
I sort of substituted my gambling desires with buying stuff I really can't afford...at least when I get home is all there in my apartment for me to see....unlike the money that went down the slot
machine never to be seen again.
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Old 09-08-2020, 01:41 PM
 
Location: Ontario, NY
3,160 posts, read 7,006,198 times
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I used to work in the Industry in Atlantic City, and even when you beat the odds and win, they would work every angle NOT to pay you. I recall one incident, an underage girl was playing slots and hit the Jackpot. Since she was underage, she had her boyfriend claim the jackpot. When the Casino looked that the surveillance footage, they arrested him for claiming someone else's jackpot and her for underage gambling, didn't pay out a cent, and of course didn't return any of the money she lost playing. So even when you win, they have a slot tech come over and validate the machine wasn't tampered with or is malfunctioning, Look at the surveillance video, I wouldn't be surprised if they didn't run down your name for outstanding warrants when you present ID. It would be beneficial to them if you get arrested Before they paid you. Anything to get out of paying.
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Old 09-08-2020, 02:21 PM
 
9,962 posts, read 13,972,358 times
Reputation: 11800
Quote:
Originally Posted by TechGromit View Post
I used to work in the Industry in Atlantic City, and even when you beat the odds and win, they would work every angle NOT to pay you. I recall one incident, an underage girl was playing slots and hit the Jackpot. Since she was underage, she had her boyfriend claim the jackpot. When the Casino looked that the surveillance footage, they arrested him for claiming someone else's jackpot and her for underage gambling, didn't pay out a cent, and of course didn't return any of the money she lost playing. So even when you win, they have a slot tech come over and validate the machine wasn't tampered with or is malfunctioning, Look at the surveillance video, I wouldn't be surprised if they didn't run down your name for outstanding warrants when you present ID. It would be beneficial to them if you get arrested Before they paid you. Anything to get out of paying.
Nah, it's a hospitality business.

First and foremost, they want you to keep coming back. Casinos don't necessarily go after the gambling addicts, the main target audience is those who want to have fun.

I've been paid on losing hands lots of times when the dealer has made a mistake and I had a $1000 sports ticket that was expired that a Las Vegas casino paid me on. It was well within their right to refuse me.

If people lose every time they go to a casino, then they won't go...

A casino is a big gamble these days. Revenue from gaming doesn't even begin to ensure that you won't go belly up. You've gotta beat other casinos for customers... so repeat business is a priority.
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