"America's Money"

The gambler in me must correct you. The house edge in roulette is only 5.26%, not 8%.

This is irrelevant to your point, however.

To put this in more practical terms, consider a roulette wheel in Las Vegas. An equal number of red and black, plus a 0 and 00. That puts the advantage in the houses favor by around 8%. That might not seem like much, but over time, the house will always win out over the player because of it. Remove the 00 from the wheel, and the odds just got a bit better for you over time.
 
I'm sorry for the people in the stories with their hard-luck problems. And I don't mean to be unsympathetic to their plight. I can see how devastating bad luck could truly wreak someone's finances. But for most all the stories featured here, the "bad luck" was no worse that things I've weathered myself or seen friends work through without the same degree of disaster. My house suffered damage in an earthquake and in a hurricane. I've lost (embarrassingly) huge amounts due to poorly diversified investments, then lost more in a painful divorce. I've lost my job without notice (several times) and once when the labor market was so bad I had to accept much lower paid employment after months out of work. Colleagues who weren't willing to accept lower paying jobs spent years out of work. Never through any of that was I in the kind of dire situation these stories seem to be. Surely this isn't even remotely representative of the current economy. They make it sound like everyone is having problems everywhere. Hardly any stories of people doing okay or coming through despite setbacks in their lives. Who expects to live without any setbacks through their adult life?
 
How much is the rake usually?
If you play long enough the house gets all the money on the table.
depends upon where, but usually a max of 3 or 4 dollars depending upon the place for limit games.
yes, I played for 8 hours one day with about very little table turnover and I remember counting the total money on the table and it was a lot less than when we began ... I estimated that it was about $100/hr
 
depends upon where, but usually a max of 3 or 4 dollars depending upon the place for limit games.
yes, I played for 8 hours one day with about very little table turnover and I remember counting the total money on the table and it was a lot less than when we began ... I estimated that it was about $100/hr
About 20 years ago I played 7 card stud in Vegas and it seemed like the dealer won every hand. I only played for a short time. It was too nerve racking for me. I like the popular Texas Holdem now, though.
 
About 20 years ago I played 7 card stud in Vegas and it seemed like the dealer won every hand. I only played for a short time. It was too nerve racking for me. I like the popular Texas Holdem now, though.
? I woulda played with another dealer then :eek:>:D ... no comment on the integrity of the dealer you were playing with :D
 
? I woulda played with another dealer then :eek:>:D ... no comment on the integrity of the dealer you were playing with :D
Attempt at humor. The house was the dealer and took a piece of every pot.:) She was the only one winning.
 
Here's another mortgage underwriter out of work story. It sounds like he tried his best to screen out the 'liar loans' (by his own account, anyway).

Josh's job quest: 10 resumes a day, no takers - Mar. 28, 2008

I thought this comment was rather trite: "If the economy weren't on the rocks, Hager feels he'd be able to land a job more easily". :duh:
 
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