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Old 09-11-2020, 11:44 PM
 
12,678 posts, read 10,156,157 times
Reputation: 16209
Quote:
Originally Posted by Sibay View Post
How do you know all those people are low income or gambling away money needed for other expenses? Seriously...a guy wearing a $2000 suit is just as likely to be gambling away the mortgage payment as the next person.

Yes, for some gambling becomes an addiction but for others it's a form of entertainment, nothing sad or depressing about it.

I've told this story on this forum before. 2 years ago on the way home from work, my 13 year old, 260k mile Colorado threw a engine light. I carry a code scanner with me, plugged it in.. tranny slip.. Odd.. I cleared the code (While I'm driving down the road) and then I FELT the slip. And there came the light back on. not good. Especially as I had the tranny rebuilt about 70k miles before that.


This was a Friday. Saturday morning, I was at the dealership. Dressed horribly. Jeans, untucked shirt, ballcap. Had done some outside work so was sweaty.. Looked like a bum.



I picked out the new vehicle. They brought the guy in to run my credit. He came back in and said "Yeah, we'll have no problem getting you great financing".. Asked him if he was surprised (My credit is around 830) and he said something that has stuck with me. He actually was one of the owners of the dealership.. He said, I've been doing this nearly 40 years. I've seen it all. I've learned to never judge a person by looking at them. I've had people come in here dressed to the nines in a suit and tie, run their credit and the machine started laughing at them. Then there's people like you. unassuming, didn't dress up to try to impress, and credit is sparking. You just never know.


and FWIW.. my dad retired with 25+ years in the military as a Colonel. Then worked 25 years in the US Attorney's office. He's pulling in over 100k a year in retirement. And he's pretty much just as cheap an SOB as me.


Quote:
Originally Posted by WalkingLiberty1919D View Post
Not really a horror story, more of a funny story. I went to Las Vegas once. I heard that your best odds are at Blackjack, so I sat down at a Blackjack table. The minimum bid was $20. So I bet $20. I got 21 on my first hand! I think I won $30 from that if I recall. I thanked the dealer and started to leave. He wanted to know why and I said, "I already won. I can only go downhill from here." He laughed and told me to at least wait for my complimentary drink.

Yeah, it was exciting to win... and I didn't want to ruin that by losing. haha.



About the smartest gambling story I've ever heard. Well, other than the fact you didn't stay for the free drink.
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Old 09-12-2020, 08:39 AM
 
Location: Riverside Ca
22,164 posts, read 27,206,735 times
Reputation: 35212
Quote:
Originally Posted by santafe400 View Post
I've met folks who've gambled everything from their monthly rent to their family inheritance, from their students loans to modest lottery winnngs and lost everything after just one or two nights of "having fun" and "feeling lucky" in the casino.

Anyone else know of anyone who gambled away their money and LOST big time?
Long time ago o had a gf who had a brother who was a big time gambler. We were all 19-20. She would give him money all the time to cover his losses. The dude did a lot of shady stuff. He would go to all of the LA casinos on a Friday and be broke by the time he came back. Sometime he won big. But there were times where you could tell he effed up. He wanted to borrow money from me. I didn’t have it, but it wasn’t like I was gonna guve money to a gambler and hope I was getting it back. Lol

The good thing about this is I saw at a early age how destructive gambling AND loaning money was. I saw how she struggled to pay her debts save money and then support the brothers habit.
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Old 09-12-2020, 11:31 AM
 
Location: East Coast of the United States
22,094 posts, read 23,294,807 times
Reputation: 18693
Quote:
Originally Posted by Sibay View Post
How do you know all those people are low income or gambling away money needed for other expenses? Seriously...a guy wearing a $2000 suit is just as likely to be gambling away the mortgage payment as the next person.

Yes, for some gambling becomes an addiction but for others it's a form of entertainment, nothing sad or depressing about it.
Affluent people don’t spend much time in casinos because it is silly.

You make more money just working a few hours of overtime or even snoring than you’re ever likely to make by gambling. Cost benefit doesn’t compute.
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Old 09-12-2020, 04:14 PM
 
Location: Occupant of USA.
398 posts, read 125,014 times
Reputation: 766
Quote:
Originally Posted by Monello View Post
About a decade ago, a video slot machine player discovered a flaw in the game's software. He had a good thing going but got too greedy. Here's a link to his story.

John Kane

It's a fascinating story.
Yes, a fascinating read. Truth be told, I grew up with Ron Harris and his family on the same street in Vegas. He was a brilliant young man and knew electronics like no other. He was a master at replacing crystals in CB radios so we could get illegal frequencies and shoot skip all across the world.
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Old 09-13-2020, 10:40 AM
 
Location: Grosse Ile Michigan
29,457 posts, read 71,149,797 times
Reputation: 36524
I have a friend who used to go to Vegas three or four times a year. He typically had about $4000 gambling budget each time. He would flush though a lot of money. He might be up $10,000 at some point and then end up only up $2000 by the time he left. Sometimes he came home with more than $4000 sometimes less. He netted out a yearly loss of $1000 - $2000. But because they only track how much you gamble, not how much you win or lose, he got everything free. Suites, meals, shows. He said the $1000 or so he lost each year was a fraction of what the food, accommodations or shows would have cost and he really enjoyed gambling and free drinks, so it was very cheap vacations/entertaianment.



He only played craps, blackjack or red dog. Those are the only ones with decent odds. The odds on the other stuff are obscenely terrible. Craps has the best odds, blackjack and red dog are about the same.



I like to play craps, but after about three or four hours (or I run out of my budgeted money) I get bored and I am done. After that I lose interest in Vegas pretty quickly. I like to go for two to three days because there are lots of other things to do, but a week is too long. The other things to do are mostly the same kind of things.
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Old 09-13-2020, 12:47 PM
 
23,001 posts, read 17,079,238 times
Reputation: 18059
Quote:
Originally Posted by jobaba View Post
Gambling is predominantly an activity by young men in their 20s.
It’s clear you haven’t spent much time in Casinos because there is zero truth in this statement. Casinos are predominantly dominated by 50+ year olds, you might even be able to raise the age to 60+ and it still be true
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Old 09-16-2020, 02:51 PM
 
80 posts, read 29,316 times
Reputation: 129
Quote:
Originally Posted by BigCityDreamer View Post
Affluent people don’t spend much time in casinos because it is silly.

You make more money just working a few hours of overtime or even snoring than you’re ever likely to make by gambling. Cost benefit doesn’t compute.
I don't know how you define affluent people. If you watch the movies, rich people do spend time and money in casinos.

They have money, they just want to have fun. Who care about the cost benefit when you do have more than enough money.
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Old 09-16-2020, 02:57 PM
 
Location: San Diego CA
7,120 posts, read 4,920,727 times
Reputation: 13220
Beating the odds in the end is just pure luck. If you think you can consistently sustain a winning streak you’re sadly mistaken.
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Old 09-16-2020, 03:00 PM
 
80 posts, read 29,316 times
Reputation: 129
Quote:
Originally Posted by JakeinChina View Post
Casino's in the U.S. might be the most depressing places to visit outside perhaps a hospital. To see low income or elderly people sit at those slot machines is so sad. You know they are gambling money they really need for other expenses.

I use to go to Macau next to China a couple of times a year when I lived there. It was ok the first couple of times, but Chinese do not gamble for fun. They gamble to win and are super competitive. Nobody drinks, nobody smiles and the emotions run so high that it really takes the fun out of it.
People are having fun in the U.S. casinos. If you go to Macau, those people are very serious at tables and all believe that they can beat the casinos. Very few of them play slots in Macau.
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Old 09-16-2020, 03:16 PM
 
9,961 posts, read 3,588,165 times
Reputation: 17543
Quote:
Originally Posted by WalkingLiberty1919D View Post
Not really a horror story, more of a funny story. I went to Las Vegas once. I heard that your best odds are at Blackjack...
Usually, the best odds are at the Craps Table. You can get 50/50 odds on one type of bet.

Quote:
Originally Posted by WalkingLiberty1919D View Post

, so I sat down at a Blackjack table. The minimum bid was $20. So I bet $20. I got 21 on my first hand! I think I won $30 from that if I recall. I thanked the dealer and started to leave. He wanted to know why and I said, "I already won. I can only go downhill from here." He laughed and told me to at least wait for my complimentary drink.

Yeah, it was exciting to win... and I didn't want to ruin that by losing. haha.
Pre-pandemic, we were on The Las Vegas Strip 3 to 5 nights/week going to shows & fine dining. Afterwards, Mrs. RationalExpectations frequently would play a penny slot machine. It was quite frustrating for me to watch:
her objective was to play until the money was gone.
One time, she put in $1, and on the first spin her total was $1.40. I said, "Great! Cash out now! You're up 40% on one spin!" That didn't go over well. She just plays until the dollar is gone.
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