Read The Forum Rules: We have a clear set of rules to keep the forum running smoothly. Click here to review them.

Post Reply 
Is Gambling Foolish?
Author Message
berserk Offline
Banned

Posts: 1,131
Joined: Mar 2014
Post: #26
RE: Is Gambling Foolish?
(01-02-2015 08:13 AM)Darius Wrote:  Poker is the only game where you are playing with the odds are your side, assuming you know the odds. It also helps if you can read people and know when you are playing against worse/better players. You win at poker by knowing the odds better than your opponents and knowing who the weaker players are.

It has gotten much harder than it use to be, though I'm sure you can still find good games to play in. The local casino's where I live consist of mostly regulars. Much harder to crack than your home game where you're the only experienced player at the table.

Even with poker you have to beat the rake and in real life also tipping and drinks.
01-03-2015 06:51 PM
Find all posts by this user Like Post Quote this message in a reply
Praetor Lupus Offline
Pelican
****

Posts: 1,427
Joined: Jul 2014
Reputation: 8
Post: #27
RE: Is Gambling Foolish?
I suppose it depends on how much you can influence the game through knowledge and skill. One-armed bandits, for example, are an absolute money sink. Games like poker, where you can use some strategy, are less foolish.

I prefer not to gamble at all, but if you have the skill for the latter, I say go for it.

"The only purpose for which power can be rightfully exercised over any member of a civilised community, against his will, is to prevent harm to others...in the part which merely concerns himself, his independence is, of right, absolute." - John Stuart Mill, On Liberty
01-03-2015 08:07 PM
Find all posts by this user Like Post Quote this message in a reply
JustlookingForAGoodTime Offline
Robin
*

Posts: 179
Joined: Dec 2014
Reputation: 2
Post: #28
RE: Is Gambling Foolish?
(01-02-2015 08:13 AM)Darius Wrote:  Poker is the only game where you are playing with the odds are your side, assuming you know the odds. It also helps if you can read people and know when you are playing against worse/better players. You win at poker by knowing the odds better than your opponents and knowing who the weaker players are.

It has gotten much harder than it use to be, though I'm sure you can still find good games to play in. The local casino's where I live consist of mostly regulars. Much harder to crack than your home game where you're the only experienced player at the table.

Until very recently i lived in Las Vegas and played poker at places like the Luxor. ABC poker and patience in a 1/2 game will bring results everytime. SO many guys coming into town hot to hit the tables and pull of moves they see on TV get left broke by locals who are cash game specialists and have seen everything at least twice. You don't even have to read people much either. Just size them up, play your cards, and sooner or later you'll be in a position where one of these idiots will be coming over the top of you while drawing dead.

If they are drinking, so much the better. Alcohol + jet lag = a live one. Let them play fast and loose, in the end they WILL get their asses handed to them. Seen it too many times.

As for the subject of the thread...i've worked in a number of casinos. As a casino and utility porter, i've seen countless people just throw away their money without having a snowball's chance in hell of coming out with a profit. When i was a kid there was a saying "This town was built on slots and keno". Those are the two ultimate suckers' games. Craps CAN be profitable but a lot of it is purely sucker bets. You have ZERO control over the action. I used to play roulette years ago and it was rather simple. either red/black or what i called intersections which is a corner bet. Anyone who says they have a system is worse than a fool. It is pure chance. You can make money at BlackJack but you seriously better know what you are doing, ok? Forget about the bullshit you see in the movies unless you really,really sharp. Even basic BS is good but in the end, the house edge will get you unless you know when to call it a day and walk away.

Poker is the real deal. As the saying goes "It's not a card game played with people, it's a people game played with cards". Doesn't matter what, if you don't know what you are doing, your chances in the the long run are exactly zilch against someone who does. And even if you do know something, sooner or later you'll run into someone who has you seriously outmatched. then it's just a matter to how you react to the situation.
https://www.youtube.com/watch?v=5M7DjooAaUQ
01-04-2015 06:46 PM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 2 users Like JustlookingForAGoodTime's post:
Laner, Spader
Sonoma Offline
Pelican
****

Posts: 1,009
Joined: Nov 2014
Reputation: 6
Post: #29
RE: Is Gambling Foolish?
Cosmopolitan betting 25 cents at the bar counter with video BJ is a major winner. Over 3 days I was down 20 dollars and up 20 drinks
01-05-2015 08:03 PM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 3 users Like Sonoma's post:
JustlookingForAGoodTime, DJ-Matt, berserk
JustlookingForAGoodTime Offline
Robin
*

Posts: 179
Joined: Dec 2014
Reputation: 2
Post: #30
RE: Is Gambling Foolish?
(01-05-2015 08:03 PM)Sonoma Wrote:  Cosmopolitan betting 25 cents at the bar counter with video BJ is a major winner. Over 3 days I was down 20 dollars and up 20 drinks

You know the score! As long as you are actively playing even the minimum in some places you will get plenty of drinks.
01-05-2015 08:19 PM
Find all posts by this user Like Post Quote this message in a reply
Big Country Offline
Robin
*
Gold Member

Posts: 151
Joined: May 2014
Reputation: 3
Post: #31
RE: Is Gambling Foolish?
Gambling, like anything, is only foolish if you can't afford it.

Personally, I enjoy Hold 'Em but find I play better in tournaments than in cash games. Also, my limit for a cash game is >3 hours, after that time period I just get sloppy, whereas in a tournament I always play sharp.

One big tip that I can give for poker is that you have to hate people when you're at the table. I struggled with this at first because it's not much fun to see a guy you busted out for $300 go to an ATM and pull out more money that he will likely lose. If you can get over that fact you can do well. Also, not being a schmuck helps.
01-05-2015 08:54 PM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 1 user Likes Big Country's post:
berserk
JustlookingForAGoodTime Offline
Robin
*

Posts: 179
Joined: Dec 2014
Reputation: 2
Post: #32
RE: Is Gambling Foolish?
(01-05-2015 08:54 PM)Big Country Wrote:  Gambling, like anything, is only foolish if you can't afford it.

Personally, I enjoy Hold 'Em but find I play better in tournaments than in cash games. Also, my limit for a cash game is >3 hours, after that time period I just get sloppy, whereas in a tournament I always play sharp.

One big tip that I can give for poker is that you have to hate people when you're at the table. I struggled with this at first because it's not much fun to see a guy you busted out for $300 go to an ATM and pull out more money that he will likely lose. If you can get over that fact you can do well. Also, not being a schmuck helps.

I've played just sit n goes but i plan to be in maybe four events at this years WSOP. As of right now i'm only beginning to play online (haven't set up account yet).
Those guys busting out and reloading? I LOVE them. Seriously. You can't imagine how much i hold them in contempt but they are good for business. My god, how some of them donk it up and just don't learn to slow down and play the basics. Can you imagine blowing $500 in a 1/2 game in maybe two hours? It takes a serious amount of ineptitude to accomplish that. Me? 50BB is all i go to work with. First objective is to double up the buy in, then everything else is gravy.
01-05-2015 09:45 PM
Find all posts by this user Like Post Quote this message in a reply
xpatplayer Offline
Kingfisher
***

Posts: 710
Joined: Nov 2013
Reputation: 15
Post: #33
RE: Is Gambling Foolish?
Its not foolish if you set a ceiling amount and gamble only that much, or your winnings from that much, away. Its slightly foolish the second you go above your cap. Gets progressively more foolish from then on.

Its not foolish at all if you know how to play poker. You could make a career if you're good enough.
01-06-2015 02:05 AM
Find all posts by this user Like Post Quote this message in a reply
JustlookingForAGoodTime Offline
Robin
*

Posts: 179
Joined: Dec 2014
Reputation: 2
Post: #34
RE: Is Gambling Foolish?
(01-03-2015 06:51 PM)berserk Wrote:  
(01-02-2015 08:13 AM)Darius Wrote:  Poker is the only game where you are playing with the odds are your side, assuming you know the odds. It also helps if you can read people and know when you are playing against worse/better players. You win at poker by knowing the odds better than your opponents and knowing who the weaker players are.

It has gotten much harder than it use to be, though I'm sure you can still find good games to play in. The local casino's where I live consist of mostly regulars. Much harder to crack than your home game where you're the only experienced player at the table.

Even with poker you have to beat the rake and in real life also tipping and drinks.

NEVER drink while you are playing! Absolutely NEVER!!! Full stop.

I once did an experiment with myself to see how soon it would take alcohol to affect my judgement in a game. Just how soon would i feel an adverse effect on my ability to snap analyze and sort through various factors involved in the decision making process. Know what i found? Exactly two beers. PBRs to be exact. And i was a hardcore alcoholic at the time too.

Every notable score i ever made was against someone who was drinking.

As for the rake and tips? If you are doing good, it doesn't matter. Personally, i only tip if it's a decent or better pot. If it's raise/reraise/fold or similar, the dealer isn't getting a dime from me.
01-06-2015 04:22 AM
Find all posts by this user Like Post Quote this message in a reply
Krusyos Offline
Banned

Posts: 432
Joined: Apr 2014
Post: #35
RE: Is Gambling Foolish?
(01-03-2015 05:44 PM)Swooper Wrote:  This thread has been quite negative so far. But I may be the exception on the forum in terms of gambling.
I dropped out of college to pursue a career in professional poker and it gave me the means to pursue a location independent lifestyle. Now I have left the USA far behind and am super happy with my life in china.

You've piqued my interest, sir.
01-06-2015 08:44 AM
Visit this user's website Find all posts by this user Like Post Quote this message in a reply
Plato Offline
Banned

Posts: 170
Joined: Dec 2014
Post: #36
RE: Is Gambling Foolish?
Here is something that is often overlooked.

Casinos have an inbuilt advantage on all the games they offer (from 1-5% etc). Let's ignore card counting in Blackjack for a second since most casinos try to encourage attempts in this area since they know most people are not smart enough to make a success of it.

And those who are good at it will be swiftly banned. So god luck with that.

Anyway - back to the inbuilt mathematical advantage that casinos have. This is not the main reason why casinos make so much money.

It is the reason why casinos are guaranteed a profit. But it is not the main reason behind the bulk of their profits.

If we betted like perfectly rational machines we would either not bet at all (since there is no rational reason to) or we would always hand over losses exactly equal to the mathematical edge that casinos have.

Simple psychology is the main reason behind why casinos make the bulk of their profits.

How many gamblers make a bet or two and then call it quits? Hardly any.

How many gamblers - lose a bunch of money - and keep betting more and more in an attempt to recoup their losses? A lot.

How many gamblers - win a bunch of money - and keep gambling more and more in an attempt to make even more? A lot.

And this is the real reason why casinos make so much money.

Dumb human behaviour. The mathematical edge is just there to keep out the smart ones. Hell - even if casinos offered an edge to the gambler - most people would still bet in such a way as to fritter away their advantage.

I don't blame them. It is a common mistake that we are all prone to. Myself included. Many times I have let my winnings ride in the hopes of another big win - and gone home with nothing...
01-06-2015 04:52 PM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 3 users Like Plato's post:
JustlookingForAGoodTime, SpiderKing, GoSkins
Quintus Curtius Offline
Crow
*****
Gold Member

Posts: 4,060
Joined: May 2013
Reputation: 247
Post: #37
RE: Is Gambling Foolish?
The only way to "win" at gambling is to set aside some small amount of money for it, and expect to lose it. And then you stop there.

Let's say you like to play slot machines. OK, so then set aside $100 or so for that, and expect to lose it. Enjoy the fun of playing, and leave it at that.

Problem is, people don't know when to stop. And it gets addictive.

| qcurtius.com | Twitter
01-06-2015 04:56 PM
Visit this user's website Find all posts by this user Like Post Quote this message in a reply
Plato Offline
Banned

Posts: 170
Joined: Dec 2014
Post: #38
RE: Is Gambling Foolish?
That is what I do.

I am cheap so I don't bet much.

But this is my basic "system".

Walk into the casino with your buddies.

Drop 100 bucks on red or black at the roulette table.

If I win - cool - I will spend the rest of the evening gambling those winnings any way I like (stick 50 bucks on a number at the roulette table for example - that is always a fun bet).

If I lose - no big deal. i will just watch my buddies gamble and get drunk.

Mind - sometimes I get these dark thoughts. Involving selling my house and betting it all on red or black.

This guy did that once - and I often daydream about crazy shit like that.

I have a strange way of thinking about the prospect.

DON'T BET = WORKING 40 hour weeks for the rest of my life.

BETTING (and losing) = Working 40 hour weeks for the rest of my life.

BETTING (and winning) = Living the dream, baby! :-)

I am young enough to start over - and whether I lose - or not bet at all. I am still condemned to a life of working 40 hour weeks.

So - it almost feels like you wouldn't be much worse off either way - since you will still be a rat slaving away for 'the man'.

I also think that most new business have a less than 50% of chance of doubling their money. So - as well as being much easier - it is actually easier than going to the trouble of setting up a business.

As for the guy who bet his life savings on red at a casino? You can watch it here...



01-06-2015 05:07 PM
Find all posts by this user Like Post Quote this message in a reply
Cattle Rustler Offline
Peacock
******
Gold Member

Posts: 6,504
Joined: Jun 2013
Reputation: 108
Post: #39
RE: Is Gambling Foolish?
Amateurs.

In order to win at the casino you need to have a modest amount of money, like 400 at least. The more the better the chances. Some here know of my casino stories but there have been times where I went with a milf and got 15k a day.. And 10k the next day. There was a stop period and had a good amount to start with.

Go "Max bet" and hit the middle leagues. Fuck one dollar bets. Do 5-50 slots. I've hit 1200 just by betting 15 dollars.

"May get ugly at times. But we get by. Real Niggas never die." - cdr
(This post was last modified: 01-06-2015 09:01 PM by Cattle Rustler.)
01-06-2015 08:28 PM
Visit this user's website Find all posts by this user Like Post Quote this message in a reply
JustlookingForAGoodTime Offline
Robin
*

Posts: 179
Joined: Dec 2014
Reputation: 2
Post: #40
RE: Is Gambling Foolish?
(01-06-2015 08:28 PM)Cattle Rustler Wrote:  Amateurs.

In order to win at the casino you need to have a modest amount of money, like 400 at least. The more the better the chances. Some here know of my casino stories but there have been times where I went with a milf and got 15k a day.. And 10k the next day. There was a stop period and had a good amount to start with.

Max and hit the middle leagues. Fuck one dollar bets. Do 5-50 slots. I've hit 1200 just by betting 15 dollars.

Great post.

The best payouts in any casino are the high roller areas. You know, the ones where $5 is the minimum play. Those machines are the loosest in joint since the max play is so much higher compared to regular machines that you can hit more often and more profit. Takes some priming of the well but when the going is good, you are going to get paid lovely.
01-06-2015 08:55 PM
Find all posts by this user Like Post Quote this message in a reply
Cattle Rustler Offline
Peacock
******
Gold Member

Posts: 6,504
Joined: Jun 2013
Reputation: 108
Post: #41
RE: Is Gambling Foolish?

"May get ugly at times. But we get by. Real Niggas never die." - cdr
(This post was last modified: 01-06-2015 09:37 PM by Cattle Rustler.)
01-06-2015 09:20 PM
Visit this user's website Find all posts by this user Like Post Quote this message in a reply
Post Reply 


Forum Jump:


User(s) browsing this thread: 1 Guest(s)

Contact Us | RooshV.com | Return to Top | Return to Content | Mobile Version | RSS Syndication