Gambling should be for entertainment purposes only - expecting to lose. I
personally believe that gambling can lead to issues that can cause heartache and
grief. But if you look at the statistics, you will see that the "house"
always has the advantage.I went to the Dave Ramsey event at
Abravanel Hall two weeks ago. I met his Utah ELP. It was a financial adviser
from Diversify? Does anyone know what the relationship between an ELP and Ramsey
Let people gamble if they wish but don't make tax payers pay for their
rehab or losses.
But I like driving my car in Boston!
Any of you here that are claiming how much 'fun' gambling is ever
notice how simply massive, elegant and "expensive" the Strip at Vegas
looks?It isn't built on the backs of the winners.....You're welcome.
One way to discerning important truths is simply to state something that is
true. When a group of people come by to rationalize or justify it, you know you
hit a nerve, and that hitting that nerve hurt because what you said it true.Gambling just isn't sound financial advice; as the author stated,
with no moral consideration whatsoever, it's just not a good idea
financially. Even the stock market is a notch above it, because at least in the
stock market your money is being put forward for the purpose of production and
intended gain. Games at a casino are inversed; they have you pay money with the
intent and design of you losing it, with an occasional payout here or there only
to keep you enticed to continue paying money directly to their pocket.
Clearly, gambling can provide a "rush" like extreme sports and high-risk
business entrepreneurship. You're living "on the edge" and the
excitement of winning can become addictive. Addictive personalities can come to
rely on that rush with devastating effects. I have some close friends who were
"high rollers" in Vegas -- even comped us a couple of rooms one week
when times were good -- but a streak of "bad luck" resulted in their
losing their home to pay gambling debts. It was devastating to the family, and
the husband almost became suicidal.I also knew a restaurant owner
who lost her restaurant to gambling debts. And in my old neighborhood, a man
came home from work to find all his furniture gone -- his now ex-wife had
gambled everything online without his knowing.These are sad stories.
People need to know themselves and know if they can handle gambling's
addictive potential. And people need to watch over their loved ones if they
have risk-seeking, addictive personalities.
Does that include gambling in the stock market or currency exchanges?
I think the way it needs to be approached is something like this. Let's say
you go to a movie theatre and spend 15 dollars on a ticket, soda and popcorn.
You're basically paying for 3 hours of entertainment. If you approach
gambling the same way, like say allocating 10, 20 or 40 dollars to spend on
penny slots or a couple sports bets or whatever, you can treat it like
purchasing a couple hours of entertainment (and maybe you get your money back
for a free visit).If that's how someone views gambling, I
don't see it as a problem if that's what they want to do with their
money. (Of course, that's not how everyone sees it).
Gambling is when you don't know the outcome. The casino run a game where
the outcome is known. Las Vegas was not built on a gamble. As is said in LV, a
tourist weighs half as much as a bail of cotton and is twice as easy to pick.
Don't burn the money, just give it to me. In fact, I'll even give you
a little bit of money back, just like a casino, so we can both be winners.
Some people can have a drink now and then; some can't stop once they start.
Some people can gamble a bit here and there; some can't stop once they
start. I've even known people who could smoke only once in a great while,
but as with pornography and hard drugs, the odds of becoming addicted are
dangerously high. The problem is that we don't know what will addict us
until we try it, and then it's too late. Unfortunately, we can't
avoid food, and controlling that addiction is more than enough for most of us.
Serious gamblers like to call themselves "semi-professional" or
"professional" gamblers. I recently read an interview with a well-known
professional gambler who estimated that something like 95% of professional
gamblers are addicted -- but of course, he did not include himself!
Why not just BURN your money? You are GUARANTEED--at least--heat and light from
I love how Ramsey lumps all gamblers as "sad, lonely people". Surely
that is sometimes the case. If you have ever been to vegas in the high roller
rooms, there are many successful people who are very rich that like to gamble.
So that phrase of all gamblers being losers and suckers isn't really true.
The easiest way to come out ahead at the casino is to skip straight ahead to the
buffet line and load up on seafood and prime rib instead.
The stock market, on the other hand, is just as bad.
While I will agree that there are those who are addicted to gambling, there are
also some of us who use a casino as part of our entertainment rotation. My wife
and I can drop $30 going to the ballpark, zoo, movies, community theater,
concert, or casino. The reality for us is that we know we are going to spend $30
to be entertained for a short period of time in each situation and it gets us
out of the house and around other people. And on rare occasions one of us has
been fortunate enough to walk out of the casino with $5 to $30 back in our
pockets. A poor return if you are looking at investment, but a good feeling if
you had a couple of hours of entertainment and it didn't cost you the full
$30 that you expected it to.
Potential, odds and risk. Who know if that lone will get paid, or even paid on
time, every month of every year till it is paid. That isn't a big gamble.
but if you set a limit on what you spend on entertainment, you can feel the
thrill of victory and the agony of defeat.
I have found that visiting casino resorts and gambling to be an amazing
entertainment value as long as you make informed choices of which games to play,
bet modestly, and take advantage of club perks and promotions as much as
possible. Do not go with a kill or be killed gambling attitude. Expect to break
even more or less and enjoy a lot of free rooms, food, drinks and stuff. I know
a lot of people don't have the self restraint to approach it this way, but
you can have a lot of fun if you do.
@HutteriteSo in your words, one of the parts of the gambling is the
booze. It doesn't have to be evil or dangerous, but it can be. People get
addicted and lose life savings on gambling. They don't do that with
movies. Perhaps you are in control more than most people, for which I commend
you. I don't think I could stop.
Dave...I like gambling. It's fun. And I am not delusional enough to think
I'm doing it to win, although sometimes when you put five bucks in a
machine and come away a while later with four or five times that much, it's
hard to feel as if you lost. Plus, if you're at one of the machines at the
bar playing nickel blackjack while an attentive host comps you all the beer you
want, you're not losing. It would be much more expensive to obtain the beer
without the gambling component, and I'm getting better at blackjack. I know
overall that gambling is not a for profit exercise, but neither is going to the
movies or 'antiquing' in Tucson. I get a lot of enjoyment out of it
for a very moderate expenditure. So does my wife. So, if you want to say
it's evil or the church says don't do it, fine. But don't
categorize it as exclusively as an evil exercise, and it's participants
only as victims.