# Gambling



## nakedput (Jan 2, 2013)

I know all of us here, for the most part, are committed to continually learning how to minimize risk and maximize overall returns, and this is what I love about this forum. But do any of us here like to speculate and borderline gamble at all with small money? I'm sure there is plenty of you with a small amount of cash in speculative ventures, which is great imho and keeps things interesting, but do any of you gamble outside of the financial markets? 

It's always fascinated me how guys like Phil Ivey and Helmuth can seemingly master a 'sport' like poker that is essentially based on luck of the cards. In my spare time, I enjoy putting $10 a game on point spreads or outright winners in the NBA but nothing more than that as the potential loss is too scary for me to put any substantial sum down on one game.

But how about the rest of you?


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## Cal (Jun 17, 2009)

I don't gamble, don't buy lottery tickets nothing....


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## uptoolate (Oct 9, 2011)

I don't gamble either. Poker is not simply based on the luck of the cards as you suggest. Like many card games, it requires quite a large skill set to master.


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## nakedput (Jan 2, 2013)

uptoolate said:


> I don't gamble either. Poker is not simply based on the luck of the cards as you suggest. Like many card games, it requires quite a large skill set to master.


I'll agree with this. Anyone who is good at poker must be able to properly asses behavioural tendencies as well as be very good at math, calculating odds/probabilities, etc.


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## none (Jan 15, 2013)

Sure but there is obviously a large luck component as well - if you don't think poker is gambling then you need to check the dictionary.


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## uptoolate (Oct 9, 2011)

Playing poker is not gambling, wagering on the outcome is.


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## dogcom (May 23, 2009)

Some people I hear can do well gambling on sports.


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## jamesbe (May 8, 2010)

I'm off to Vegas in a few weeks. And I don't gamble at all, I wonder if I will feel left out.


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## none (Jan 15, 2013)

jamesbe said:


> I'm off to Vegas in a few weeks. And I don't gamble at all, I wonder if I will feel left out.


Vegas is OK. I can't gamble. i do statistics for a living and I can't get over the probabilistic inevitability of it all.

Time share presentations are horrible but certainly interesting to see.


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## carverman (Nov 8, 2010)

uptoolate said:


> I don't gamble either. Poker is not simply based on the luck of the cards as you suggest. Like many card games, it requires quite a large skill set to master.


Especially at the blackjack table..you also need a lot of nerve when to stop asking for a card, anticipating what you hold in your hand will beat the dealers hand.


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## carverman (Nov 8, 2010)

jamesbe said:


> I'm off to Vegas in a few weeks. And I don't gamble at all, I wonder if I will feel left out.


Ya gotta try the slot machines..they are addictive. When I visited Las Vegas (Lost Wages) a few years ago. I set myself a limit for each day.
$10 worth of quarters in a roll. You play the quarter slots and take your chances for a big payout. When you get it..walk away. When you run out
of quarters..walk away. 
I couldn't believe how easy they make it to lose your money there..most of the high class casinos (like Caesars Palace) have credit card readers built into each slot machine
so you can place $5/$10/$20 or even $100 bet before you hit the spin button. The slot machine sucks your bet right off your credit card automatically before it spins.
I can imagine there have been a few gamblers that have maxed out their credit card(s) before leaving "lost wages".


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## none (Jan 15, 2013)

carverman said:


> Especially at the blackjack table..you also need a lot of nerve when to stop asking for a card, anticipating what you hold in your hand will beat the dealers hand.


Not at all. You just need this card. I think the majority of casinos don't mind if you have it at the table. they always have the edge anyway.


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## sags (May 15, 2010)

I love playing the slot machines, and have been lucky.

I take 100 to the casino and play until it is gone........or until I win a jackpot.

I am "up" at every slot casino..........but most of them I only went once, won some money and didn't return.

The local one........I go every 6 months or so, and I have cashed in some good jackpots........2000........1800........1200.........800.......nothing crazy big though.

Overall.........up money........but still don't go very often as the odds are they will get it back over time.


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## humble_pie (Jun 7, 2009)

did ya'll see how cmf's suprema gambling gal marina recently put 5k each on LVS, BYD, IGT & MGM?

for recidivist gamblers this could be a version of get-your-own-back-by-owning-telco-shares/bank-shares-even-while-they-stiff-you.

logic for her 20k buy was that the US of A has inched one legal step nearer to online gambling casinos.

i've never held these stocks, but i'm looking. So far, had to rule out LVS because its options have irreg strike prices, there must have been a reorg fairly recently.

marina you foxy girl, please come over here & tell us more about mgm, byd & igt. Help ! i think i'm liking igt ...


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## Nemo2 (Mar 1, 2012)

carverman said:


> Ya gotta try the slot machines..they are addictive. When I visited Las Vegas (Lost Wages) a few years ago. I set myself a limit for each day.
> $10 worth of quarters in a roll. You play the quarter slots and take your chances for a big payout. When you get it..walk away. When you run out
> of quarters..walk away.


I was in ( went through) Vegas in 1966, (the road in went right through the centre and out the other side.....no flyovers)......there were 3 of us, we stayed overnight......visited the casinos........they had $1 slot machines.......I put $1 in..lost it.....and that was pretty much it for my gambling 'career'.


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## marina628 (Dec 14, 2010)

First let's get something straight I go to Vegas because I am a foodie 
I won't discuss my gambling limits when I go to Vegas because usually when I do I get the ' you could buy me a car , fix my furnace ,take me on a trip for that amount of money. Buying these stocks make sense to me and I also own William Hill and Bwin.party since 2011.Here is an article which will explain some things http://www.reuters.com/article/2011/10/31/casinos-online-idUSN1E79U1KR20111031 .Full disclose the Media Company I own does some Digital Marketing for Bwin.party but I think IGT has the best position as the UK companies who are already regulated use their games online and once USA becomes legal you will see most of these Casinos using IGT Software.


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## Nemo2 (Mar 1, 2012)

Bob Seger, fro, IIRC, 1978:

http://www.lyricsfreak.com/b/bob+seger/still+the+same_20021986.html


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## carverman (Nov 8, 2010)

Nemo2 said:


> I was in ( went through) Vegas in 1966, (the road in went right through the centre and out the other side.....no flyovers)......there were 3 of us, we stayed overnight......visited the casinos........they had $1 slot machines.......I put $1 in..lost it.....and that was pretty much it for my gambling 'career'.


There is more to vegas these days than just gambling. Lots of conventions, lots of attractions with big name entertainers. When I went there with my ex in 1993, we didn't stay there so much to gamble, but to see the sights and attractions and yes..enjoy the cheap buffets, that every casino provided to keep their patrons gambling. 

We walked around Vegas and watched the different circus performers for free at the Mirage, MGM and other big hotels. Bought some tickets to see
Siefried and Roy. Fantastic magic acts. One of their elephants used on stage, needed to go to the toilet real bad, and before they could hussle it off
the stage for it to do it's thing..as it walked past us on the catwalk, it let go. Our table was missed by the deluge..but a table next to us got the brunt of it.

I'm sure it wasn't a laughing matter..when the lady got drenched, but afterwards, we joked amongst ourselves..
"chim-chimmeney--chim chim cheroo.."good luck will rub off-when an elephant dumps on you!"

http://en.wikipedia.org/wiki/Siegfried_&_Roy


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## kcowan (Jul 1, 2010)

Sigfried & Roy with their white tigers at The Mirage. Great memories. DW and I played the slots. I lost and she won. We converted her winnings but still had some small change in her bucket. Played it at the airport and won again. Ended up at the TD with all this US change to deposit. Successful trip to Vegas, we said.


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## sags (May 15, 2010)

The clinking of real money coins into the slot tray brings back memories............

It was the sound of the casino......

These days, no coins and no tokens, just debit slips.

I was in there one day and heard the faint "tinkling" of coins hitting the tray.

I wandered around for awhile looking for the old style machine.......before I realized the sound was coming from the speakers in the ceiling.

They were piping in the sound of coins clinking and occasional whoops of joy from winners..............lol.


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## kcowan (Jul 1, 2010)

You can make money on penny stocks that are pumpers by getting in early and getting out early.


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## sags (May 15, 2010)

I did that for awhile with small biopharma stocks.

Up on clinical trial news..........down on clinical trial news.........all about clinical trial news.............or rumours.

Great debates among penny stock enthusiasts on some websites. Worth the cost of a few thousand just to be in the game.

A family member borrowed money for a used car from a company called Carfinco. When he told me the interest rate was 30%.........I looked them up and discovered they were publicly traded. A share cost 25 cents and I thought I should invest a few thousand dollars. 

I didn't invest and forgot about it..........until it came up one day on BNN on talks of a possible takeout by one of the banks.

The stock had hit $9 and was still climbing. I think it is around $11 today, plus they have been paying dividends.

Still banging my head on the wall over that lost opportunity, because those don't come around all the time.........right place, right information, right time.

5,000 invested in 2008 would be worth about 220,000 today.................bang.....bang.....bang.


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## humble_pie (Jun 7, 2009)

kcowan said:


> You can make money on penny stocks that are pumpers by getting in early and getting out early.



but how to "get in early?"

a problem i have with this claim is that, prior to the pump, nobody knew about the stock. It was just some forgotten nonentity in the pink sheets, one of millions of unregulated bits of flotsam & jetsam that do trade, mostly among suckers.

once the pumps succeed in pushing their story in the internet, it's nearly always too late.


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## humble_pie (Jun 7, 2009)

btw nobody is catching on but i think perhaps suprema diva gamblin marina is onto something ...


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## Toronto.gal (Jan 8, 2010)

I caught your drift!


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## humble_pie (Jun 7, 2009)

what are we thinking about IGT ...


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## Toronto.gal (Jan 8, 2010)

Pourquoi pas?


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