Any gamblers here?

[ncbill]

The biggest gamblers I've known were entrepreneurs who once they were successful (i.e. 8+ figures, often by age 40) got bored and started going to Vegas to recapture the thrill.

I have one relative who after hearing rumors about a friend's gambling, demanded to see the company books, followed by my relative's immediate resignation from the board of their friend's company.

Our state's business journal a few years ago had a cover story about company owners serving federal time because of their gambling and were skimming from the business to support that habit, even after the business went public.

So from what I've seen, skydiving would be a better choice...

 

[googily]

The biggest gamblers I've known were entrepreneurs who once they were successful (i.e. 8+ figures, often by age 40) got bored and started going to Vegas to recapture the thrill.

It's funny, it's gone the opposite way for me. The thrill of trying for a big payoff (which will never really be that big in blackjack or video poker unless you play really high stakes) has dissipated as I've become FI. It was much more alluring to try to increase my savings with a payout when I was younger and had less money. And I succeeded a few times, with two or three $4,000 royal flushes where the winnings went right into the bank. But now, the same thrill of hope/expectation isn't there. I still like blackjack just as a game, but I'm not trying to win big.

 

[Danmar]

It's funny, it's gone the opposite way for me. The thrill of trying for a big payoff (which will never really be that big in blackjack or video poker unless you play really high stakes) has dissipated as I've become FI. It was much more alluring to try to increase my savings with a payout when I was younger and had less money. And I succeeded a few times, with two or three $4,000 royal flushes where the winnings went right into the bank. But now, the same thrill of hope/expectation isn't there. I still like blackjack just as a game, but I'm not trying to win big.

Agree. This reflects my experience as well. Maybe we have won the game and don't want to play anymore?

 

[Bir48die]

Played a monthly Texas Hold'em with 30 guys and really good competition. Vegas if I go is Hold'em and Blackjack. Do a Fantasy Football League and a Football Eliminator League. In a 4-5 man pool for all golf majors. Winnings go to booze for the gang.

 

[googily]

Agree. This reflects my experience as well. Maybe we have won the game and don't want to play anymore?

Yes! And it's a good thing, since MGM has opened a Vegas-quality casino not far from my house. Before he died, DH was greatly concerned about this proximity - and I probably am a bit more hesitant to go there in my current state, just in case the gambling synapses do too good of a job of shouting down the mourning synapses and it starts a problematic feedback loop.

But FI also means I can not have an attack when the cheapest tables are $25. But I still miss all-night sessions of $2 doubledeck at the Golden Gate in Vegas with DH.

 

[SH09022016]

The best gambling/life lesson story I have is when we took our 18 year old son with us to visit MIL/FIL in California. They live among a few Indian Casinos and are regular but responsible gamblers. At the time you could gamble at 18 in some of the casinos so they take my son to one, give him $20 and let the fun begin. He plays the slots and starts to win and wins big, over $600. He is so excited about the easy money and says he is going to drop out of school, quit his job, move to Nevada and gamble for a living! Then the odds start to even out, he loses all he has won, the original $20 and another $20 of his own money. That's been over 8 years ago and he still has no desire to return to a casino.

 

[gcgang]

The best gambling/life lesson story I have is when we took our 18 year old son with us to visit MIL/FIL in California. They live among a few Indian Casinos and are regular but responsible gamblers. At the time you could gamble at 18 in some of the casinos so they take my son to one, give him $20 and let the fun begin. He plays the slots and starts to win and wins big, over $600. He is so excited about the easy money and says he is going to drop out of school, quit his job, move to Nevada and gamble for a living! Then the odds start to even out, he loses all he has won, the original $20 and another $20 of his own money. That's been over 8 years ago and he still has no desire to return to a casino.

When I was 19, had junior year college overseas. Traveled through Nice, won what seemed like a ton of money at Blackjack (probably only $500, but French francs were very colorful - were the larger denomination bills physically larger?). At the end of classes, I decided I'd take a break from college, hang out on the Riviera, stop in the casino when I needed $. Lucky I had my plane ticket back home, as I lost everything in about 15 minutes. Got home literally with one thin dime.

My life lesson? Learn how to play the game before you risk $.

 

[zinger1457]

The biggest gamblers I've known were entrepreneurs who once they were successful (i.e. 8+ figures, often by age 40) got bored and started going to Vegas to recapture the thrill.

There might be something to that. I recall from the ESPN '30 for 30' segment about professional athletes and how bad they are with finances is that a high percentage of them also have gambling problems. They made it sound like the competitive nature of being a pro athlete seems to attract them to the rush of big time gambling.

 

[Ready-4-ER-at-14]

I go to Las Vegas for the money show (investing seminars) about every other year. The game I play is roulette.

My mind understands that I am betting against the odds, and should I win it was from sheer dumb luck. I don't even pretend I have any skill or fool proof system. I play a certain amount of money every day and bet heavily around the number 17 covering the inner 1/3 of the table a couple chips deep and corners around 17 with enough total for about three spins if no hits. If I hit big I set aside most of the money and play with a fraction till gone.

My goal is to win enough for meals and taxis ( no idea if UBER is there yet). I stayed at a timeshare just off the strip.

Frankly when slots went from 25cent chips to a dollar it no longer felt like fun. Can't really say there is any real reason to go to Las Vegas any more.

 

[Blue Collar Guy]

My favorite gambling story goes something like this:

There was a rich Texan (a mulit millionaire) at a Vegas casino playing in one of the high stakes rooms and making a real A$$ of himself acting like a big shot. Then a fellow player that he didn't know (a billionaire) asked him, well sir, just how much money do you have? The Texan reportedly boastfully replied, 50 million "son". The billionaire then replied, do you want to flip for it?


And my favorite gambling video.

Love the flip for it story and love the video.

 

[easysurfer]

A single winner just won a $758 million Powerball lotto.

The poor soul. Bet he/she may regret this.

 

[Mdlerth]

Squandering $$ far better spent on malt beverages

I don't get any thrill from traditional casino-type gambling. I don't judge anyone else who enjoys it, presuming they can afford to do so, but it's just not my thing.

I lived in New Jersey when the Atlantic City casinos were a novelty. So DW and I went to AC to see what it was like.

Meh.

What made a much bigger impression on me was noticing that if you went just a few blocks inland from the casino-strewn Boardwalk, the only buildings that weren't boarded up were 24-hour pawnshops proclaiming "We buy gold!" More than a little disturbing.

 

[RunningBum]

A single winner just won a $758 million Powerball lotto.

The poor soul. Bet he/she may regret this.

It would've been a great time to win the $1M second prize ($2M with multiplier). They weren't named, at least not in national articles. I suppose they'll still have to deal with "friends" and suddenly not-so-distant relatives, but they won't be nearly as big of a target.