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Post by Aj_June on Dec 13, 2018 17:15:03 GMT
Have you gambled at any point of time in your life and how did you find the experience?
I gambled a lot during 2014-16 period. I found it very exciting but also very stressful. I do believe that it is designed most of the times in ways that the house always gets the better of you if you keep gambling for a long time. It's another matter if you are lucky and win a lot and then give up gambling. With advent of betting exchanges though the house can go off the equation in some cases. But still gambling is very stressful and unless the thrills you get is way more than the stress you go through, I wouldn't recommend it.
Please share your thoughts and if you gambled in past then your experiences.
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Post by lenlenlen1 on Dec 13, 2018 17:36:15 GMT
Put simply its a waste of money. The house ALWAYS wins. If you gamble you should ASSUME you're going to lose that money. IF by chance you win some back consider yourself lucky, get out, and go have dinner at a nice place. The few times I did gambl in the past (small amounts mind you) and broken even... I've always called it quits right there and thanked my lucky stars not to have lost it all. I wouldn't even say one should do it just for fun because I don't consider losing hard earned money to be fun. Can you imagine working for two weeks (a lot of us get paid bi-weekly) only to lose it all in a few minutes of gambling?! I can hardly imagine anything more frustrating.
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Post by Aj_June on Dec 13, 2018 17:44:05 GMT
Put simply its a waste of money. The house ALWAYS wins. If you gamble you should ASSUME you're going to lose that money. IF by chance you win some back consider yourself lucky, get out, and go have dinner at a nice place. The few times I did gambl in the past (small amounts mind you) and broken even... I've always called it quits right there and thanked my lucky stars not to have lost it all. I wouldn't even say one should do it just for fun because I don't consider losing hard earned money to be fun. hmm Rocky....there's not much that I can dispute about what you wrote. You are mostly correct. You are in fact almost 100% correct. Though I will add that gambling can be very exciting. So if you are a kind of person who believes sensory excitement has a value or utility that can compete with the loss of utility in the form of money lost then you can see reasons for gambling in spite of losing. Though for most of us ordinary folks money is very important and definitely not in abundance and thus money lost has larger negative utility than the pleasure gained. So it's best if we either not gamble or gamble very limited amount. If one is prone to addiction then the later option doesn't apply. |
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Post by Utpe on Dec 13, 2018 17:45:35 GMT
While visiting a friend roughly ten years ago, we decided to play a little Blackjack out in Mississippi.
I remember there was a hotel right next door where we stayed for two nights. After settling in, we hit the casino, played a few slots, then sat the table. We were there for hours, getting drunk and not paying attention to the time. It was dark when we went in, but daytime when we stepped outside for a moment. I glanced at my watch and told my friend, "Holy cow, it's 7 A.M.!" We walked back to the hotel and went to sleep.
We both threw down $50 and pretty much broke even. The dealers even helped us try to beat the game, but we were kinda tipsy (free drinks).
Earlier this year, I stopped by the local dog track. My family wanted to do some sort of a gathering. I invested a few dollars and won close to $100. I stopped at that point.
So I gamble here and there with small bets just for fun.
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Post by lenlenlen1 on Dec 13, 2018 17:51:30 GMT
Put simply its a waste of money. The house ALWAYS wins. If you gamble you should ASSUME you're going to lose that money. IF by chance you win some back consider yourself lucky, get out, and go have dinner at a nice place. The few times I did gambl in the past (small amounts mind you) and broken even... I've always called it quits right there and thanked my lucky stars not to have lost it all. I wouldn't even say one should do it just for fun because I don't consider losing hard earned money to be fun. hmm Rocky....there's not much that I can dispute about what you wrote. You are mostly correct. You are in fact almost 100% correct. Though I will add that gambling can be very exciting. So if you are a kind of person who believes sensory excitement has a value or utility that can compete with the loss of utility in the form of money lost then you can see reasons for gambling in spite of losing. Though for most of us ordinary folks money is very important and definitely not in abundance and thus money lost has larger negative utility than the pleasure gained. So it's best if we either not gamble or gamble very limited amount. If one is prone to addiction then the later option doesn't apply. If I were rich, I mean RICH, I might gamble more freely. But I'd STILL put a concrete limit on how much I was willing to lose. And even if I was on streak I would be afraid to lose it. I guess my fear overwhelms my greed!
But in all honesty gambling per se just doesn't appeal to me personally, so I don't think I am the "type", if such a thing exists, that would get addicted to it.
I hope you didn't have any problems.
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Post by Aj_June on Dec 13, 2018 18:03:46 GMT
hmm Rocky....there's not much that I can dispute about what you wrote. You are mostly correct. You are in fact almost 100% correct. Though I will add that gambling can be very exciting. So if you are a kind of person who believes sensory excitement has a value or utility that can compete with the loss of utility in the form of money lost then you can see reasons for gambling in spite of losing. Though for most of us ordinary folks money is very important and definitely not in abundance and thus money lost has larger negative utility than the pleasure gained. So it's best if we either not gamble or gamble very limited amount. If one is prone to addiction then the later option doesn't apply. If I were rich, I mean RICH, I might gamble more freely. But I'd STILL put a concrete limit on how much I was willing to lose. And even if I was on streak I would be afraid to lose it. But in all honesty gambling per se just doesn't appeal to me personally, so I don't think I am the "type", if such a thing exists, that would get addicted to it. I hope you didn't have any problems. I was a student during 2014-16 period . I was a finance student so already into modelling and forecasting and probability. I already knew that the house always wins because if you see the commission percentage of the house then there is no chance of anyone actually winning anything except in very rare case when one stops immediately after winning. No, I had no problems in terms of losing any significant money. I was gambling a lot in terms of frequency of gambling but not in terms of amount of money. I wanted to gain more insights into probability theory and financial modelling. I had a set budget for every season. I would put just 200$ (AUD) for 1 year and not add anything more in case I lost. I was only into sports gambling except on one occasion* and never put more than 5$ stake on a single bet. The one occasion when I did put a lot of money (about 200$ on a single multi-bet) on a single bet was on Hillary Clinton winning the election. I was good at sports betting and usually broke even. Not good on politics though. I gambled on Hillary as part of multi-bet. Multi-bet was a mix of sports bet and the bet on Hilary. I won the sports part of the bet and would have received a payoff of over 500$ if Hillary won. But Trump won  and I lost such a good payoff. |
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Post by koskiewicz on Dec 13, 2018 18:30:23 GMT
Simply put, you can't win if you don't play.
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Post by Ass_E9 on Dec 13, 2018 18:43:34 GMT
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Post by ck100 on Dec 13, 2018 18:59:34 GMT
It can be enjoyable as long as you play responsibly.
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Post by Deleted on Dec 13, 2018 19:20:26 GMT
I would probably bet on MLB and NFL games a lot if it were legal. But the only gambling I've done is in local casinos. There's a big casino on the way to one of my favorite beaches. I stop there to use the restroom and sometimes hit the slots for five or ten minutes. I never go there just to gamble though.
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Post by Aj_June on Dec 13, 2018 19:26:03 GMT
I would probably bet on MLB and NFL games a lot if it were legal. But the only gambling I've done is in local casinos. There's a big casino on the way to one of my favorite beaches. I stop there to use the restroom and sometimes hit the slots for five or ten minutes. I never go there just to gamble though. Howdy Blue one! Hope all's great at your end! There are US betting sites like Bovada. Can you not join them? Edit: Okay just found that only 3 states in the US have legalised them. I personally have never done any non-sports related gambling other than once on Hillary winning the elections. I used to bet on NBA, NFL and football a lot. |
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Post by lenlenlen1 on Dec 13, 2018 19:26:03 GMT
I would probably bet on MLB and NFL games a lot if it were legal. But the only gambling I've done is in local casinos. There's a big casino on the way to one of my favorite beaches. I stop there to use the restroom and sometimes hit the slots for five or ten minutes. I never go there just to gamble though. There's betting on Mon Cal?
Is there a seafood buffet in the casino?
Look at all that delicious Mon Cal...
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Post by Deleted on Dec 13, 2018 19:30:35 GMT
I would probably bet on MLB and NFL games a lot if it were legal. But the only gambling I've done is in local casinos. There's a big casino on the way to one of my favorite beaches. I stop there to use the restroom and sometimes hit the slots for five or ten minutes. I never go there just to gamble though. Howdy Blue one! Hope all's great at your end! There are US betting sites like Bovada. Can you not join them? Edit: Okay just found that only 3 states in the US have legalised them. I personally have never done any non-sports related gambling other than once on Hillary winning the elections. I used to bet on NBA, NFL and football a lot. Sports betting intrigues me, not just because I think I could win doing it, but it would add an extra edge of excitement to the games. Of course, realistically speaking, I'd probably lose more often than not. |
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Post by Catman on Dec 13, 2018 19:31:09 GMT
The house always wins.
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Post by Deleted on Dec 13, 2018 19:31:19 GMT
I would probably bet on MLB and NFL games a lot if it were legal. But the only gambling I've done is in local casinos. There's a big casino on the way to one of my favorite beaches. I stop there to use the restroom and sometimes hit the slots for five or ten minutes. I never go there just to gamble though. There's betting on Mon Cal?
Is there a seafood buffet in the casino?
Look at all that delicious Mon Cal...
Last time they had All You Can Eat Quarren |
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Post by lenlenlen1 on Dec 13, 2018 19:34:50 GMT
There's betting on Mon Cal?
Is there a seafood buffet in the casino?
Look at all that delicious Mon Cal...
Last time they had All You Can Eat Quarren You can't eat Quarren, you disgusting animal! What do you think this is? Caligulas court?!
Now, Mon cal.... mmmmmmm
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Post by bigwhiskey on Dec 13, 2018 19:44:36 GMT
Last time they had All You Can Eat Quarren You can't eat Quarren, you disgusting animal! What do you think this is? Caligulas court?!
Now, Mon cal.... mmmmmmm
Cunnilingus Court. |
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Post by Aj_June on Dec 13, 2018 19:46:13 GMT
Spoken like a true wise man! |
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Post by lenlenlen1 on Dec 13, 2018 19:53:10 GMT
You can't eat Quarren, you disgusting animal! What do you think this is? Caligulas court?!
Now, Mon cal.... mmmmmmm
Cunnilingus Court. I like that, and your user name. Put 'em both together and you've got a party! |
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Post by Utpe on Dec 13, 2018 20:05:42 GMT
hmm Rocky....there's not much that I can dispute about what you wrote. You are mostly correct. You are in fact almost 100% correct. Though I will add that gambling can be very exciting. So if you are a kind of person who believes sensory excitement has a value or utility that can compete with the loss of utility in the form of money lost then you can see reasons for gambling in spite of losing. Though for most of us ordinary folks money is very important and definitely not in abundance and thus money lost has larger negative utility than the pleasure gained. So it's best if we either not gamble or gamble very limited amount. If one is prone to addiction then the later option doesn't apply. If I were rich, I mean RICH, I might gamble more freely. But I'd STILL put a concrete limit on how much I was willing to lose. And even if I was on streak I would be afraid to lose it. I guess my fear overwhelms my greed!
But in all honesty gambling per se just doesn't appeal to me personally, so I don't think I am the "type", if such a thing exists, that would get addicted to it.
I hope you didn't have any problems.
My grandfather had a major problem.
When his wife passed away 18 years ago, he took her insurance money, mortgaged the house, and racked up $16k USD in credit card debt. He had a severe addiction. When he wasn't home, he was always at the OTB or something similar. My family tried to help him but he still kept on going. He was always tipping people very generously.
The only way he stopped gambling was a stroke four years later. If it wasn't for that, he probably would've had a second mortgage or more debt. When he died a few years ago, he left his children with a huge mortgage and two liens. My aunt had to rent the house until it could be paid off.
Poor guy. He could've risked losing everything.
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