Gambling

This might be quite random but I've been thinking how good would it be to decide on choosing gambling to get some extra money? I've been reading some [Mod: spam link removed] and as I've got a couple of these coins, I've been thinking that maybe it is a good idea to try and idk, double what I've already got? what do you think? could it be possible?
 
corwinwill said:
This might be quite random but I've been thinking how good would it be to decide on choosing gambling to get some extra money? I've been reading some [spam link removed] and as I've got a couple of these coins, I've been thinking that maybe it is a good idea to try and idk, double what I've already got? what do you think? could it be possible?

in my experience very few people win money consistently gambling, casinos are not built and maintained by losing money. Ive found poker to be a decent bet if you get skilled enough. You are playing against other people instead of the house, also i enjoy gambling on college football, but as enjoyment not to double my money.
 
Last edited by a moderator:

Tex Cruise

Pelican
Son,

I've made a life
Out of readin' people's faces
Knowin' what the cards were
By the way they held their eyes
So if you don't mind me sayin'
I can see you're out of aces
For a taste of your whiskey
I'll give you some advice...

You've got to know when to hold 'em
Know when to fold 'em
Know when to walk away
And know when to run
You never count your money
When you're sittin' at the table
There'll be time enough for countin'
When the dealin's done.

Every gambler knows
That the secret to survivin'
Is knowin' what to throw away
And knowin' what to keep
'Cause every hand's a winner
And every hand's a loser
And the best that you can hope for is to die
in your sleep.
 

jbo

Sparrow
Gold Member
Casino games are *designed* with a house edge. Don't be a fool.

Learn some useful skill instead and use that to earn money.
 

Scrapper

Woodpecker
Gambling to earn your living is BETA!
Do it for fun, not profit.
Start your own business now, it should be every mans top 3 priority to have their own business they are working on.

Even if you only have 1 hour a day to work on it, spend that 1 hour building your business instead of watching TV or playing video games.

Eventually you'll be spending 16 hours a day working on your own business and it will feel like HEAVEN! You will enjoy every minute of it because you will be the Boss.
Then once you have put in all those hours and made something great, you can choose to hire other motivated people to manage it for you and spend the rest of your life enjoying Hobbies or building another great Business.

Yes, I know that in certain circumstances Blackjack Players, Video Poker Players and even Craps players can gain a tiny house edge.
If you are a Math genius with a phenomenal memory, you can clean up in Poker Tables.

It is still fucking Beta work, this is not the life of a great man - it is the life of a Grinding working man. You are building nothing.
 

Kaligula

Woodpecker
The only casino game which does not seem to be skewed too much for the house is a simple roulete game, like Noir/Rouge, Pair/Impair. If you play rarely, you can have more wins than losses sometimes, otherwise, it is just statistics, and the outcome in such a case should oscillate around 0 (it won't as nobody always plays the same stakes). However, I am talking about a mechanical roulette, not a digital one. No guarantee that anything behaves in a real way in the digital world.
 

username

Ostrich
Gold Member
The only way to win at gambling is to be the house.

Slot machines are some of the most lucrative for the house. A player bets a dollar and you hand them back 93% over and over again. As they keep playing the house takes more and more and if the player doesn't stop eventual without fail the player will have nothing.

I've been looking into either starting a small casino, buying one, or investing in one. Even in the least likely locations where many are poor the casinos make a killing. I saw an article not too long ago that mentioned a new casino being built in Manila that will completely make back its cost in 2 years.
 

Rob Banks

Pelican
I used to play low-stakes poker and I would do OK. I definitely made more than I lost (although I certainly wasn't getting rich).

I would look at it more like a sport/competition/challenge (kind of like chess only deeper and more complex) rather than a solid way to make a living. Of course, if I wasn't making money, I wouldn't have kept playing.

In poker, you are not playing against the house. You are playing against other players (the house takes a small cut, or "rake," from every hand played). At the low stakes, most other players are BAD. They are there to have fun, gamble, and get drunk, and they are not too concerned with learning good poker strategy. It is easy to take their money.

I never played higher stakes, but I assume it is a lot harder to make money. Most high-stakes players are far more talented than at the low stakes. But if you are good enough (and by "good enough" I mean REALLY REALLY good), it is certainly possible to make a good living and even get rich. Just look up Youtube videos of professional poker players.
 
username said:
I've been looking into either starting a small casino, buying one, or investing in one. Even in the least likely locations where many are poor the casinos make a killing. I saw an article not too long ago that mentioned a new casino being built in Manila that will completely make back its cost in 2 years.

You compare Manila to a "place least likely a casino can make a killing" ?? Manila has a ton of rich locals and many casinos that bring in a lot of high rollers/ degens/pros already. A casino is not built to bring the poor locals in.

And yeah, definitely possible to make good money at poker. If you are lucky to have a good live game close to you, it can be a gold mine, unless variance screws you.
 

El Draque

Kingfisher
Orthodox
Gambling is retarded.

I can vaguely comprehend people doing it as a bit of sporting fun here and there, but as a concerted means to make money?

Loser territory.
 

kel

Ostrich
If you find out someone you love is gambling regularly (and, beware, that nowadays that is more likely to take the form of sad phone apps or even sadder scratchies in a gas station parking lot, rather than underground poker tables in smoky rooms run by the mob) you need to treat that like them opening the drivers side door after a dozen cocktails. That is a crisis situation and you can and should set aside any concept of "well, (s)he's an adult and adults make their own decisions" nonsense, you need to do whatever you can to stop them. Take their wallet, take their credit cards (again, you can do this stuff online now), lock them in a room if necessary. Gambling is a long, sad form of suicide and you need to stop it any way you can if you care about that person.
 

Cartographer

Pelican
Gold Member
There's a great little book I read, "Strategy in Poker, Business & War" by John McDonald in 1950 that has several entertaining stories and insights about gambling. Apparently he had some discussions with John Von Neumann and Oskar Morgenstern while writing it.
Much of what we do comes down to a gamble. Learning to isolate what is and isn't knowable, either in history or life as it happens is a fascinating study.
The more enlightened man will probably apply "gambling strategy" to his life instead of to a slot machine but having played hours of poker for in smoky garages, barracks rooms, tents, huts and loading docks I think gambling has some role in teaching us.
 
Top