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Let's talk about gambling
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Post by
327953
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Post by
80642
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Post by
327953
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Post by
pezz
Figure out what your average losings per night are (because you
will
lose at any casino that's still in business), and then consider how much fun you have on any given night of gambling. Was it worth the money? Were there other ways you could spend less money but still have as much fun (i.e., was your ratio of money:fun maximized).
Just treat it like any other good you consume, and do some mental math to work out the marginal utility.
Post by
80642
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Post by
Hyperspacerebel
I play Black Jack and some poker, but I think things like slots are pretty stupid.
Post by
Interest
I play Black Jack and some poker, but I think things like slots are pretty stupid.
Aren't slots actually rigged?
Post by
665124
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Post by
80642
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Post by
Squishalot
I play Black Jack and some poker, but I think things like slots are pretty stupid.
Adversarial card games (i.e. playing against other players) are probably your best return at casinos, because the house isn't really taking a cut. But then you're risking gambling against professionals.
Things like slot machines have a fixed payout rate, depending on the regulations in your area. Most developed nations have restrictions that the payout rate, on average, needs to be somewhere between 92% and 97% (i.e. for every $100 that gets played, you'll win $92-$97 on average). It doesn't seem like it a lot of the time, but when you average out the odd jackpot every now and then, it is approximately correct.
In the past, at a certain major casino in Sydney, there used to be a rough knowledge as to when the jackpot would go off (somewhere after it hit $10,000 but before $15,000), and the local triads would come in and muscle everyone off the slots, and play it themselves to cash in, then leave. Suffice to say, it is possible to skew the odds if you have some knowledge of the machines.
What most people think is that if you play the slots long enough then you're almost guaranteed a pay-out. This is false. It's like loot drops.
Fortune cookies, anyone?
Post by
Hyperspacerebel
Adversarial card games (i.e. playing against other players) are probably your best return at casinos, because the house isn't really taking a cut. But then you're risking gambling against professionals.
What's nice about Black Jack is that the dealer follows a specific pattern, and because of that a smart player can do well.
Also I can't speak for everywhere, but down here in Florida, the vast majority of people who play poker in casinos are rich older people who are there to have fun, not make money. So as long as you can play better than most of them, you'll usually come out on top.
Post by
557539
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Post by
donnymurph
last night was a bad night, lost 40 bucks. but i still felt the same the other time i went and won 70 dollars lol. thank you for ur input.
Bad night at the casino for me is a $300 loss.
I think Mariah's last post hit the nail on the head.
Personally, I only play poker. And I only play one style of poker. No-Limit Texas Hold 'Em. I've read countless poker books. Played countless hands. Never ventured off into other forms of poker, or other card games, anything that might compromise my expertise at
this particular game
.
So when I go to the casino, I'm playing, essentially, a game of skill. Against other No-Limit Hold 'Em experts. Whether I gain or lose money is dependent on a) how well I play; and b) the quality of my opponents. Sure it sucks to lose, especially when you lose $300 and know your life for the rest of the week is pretty stuffed. But I don't get any "gambling guilt" because I see what I do as playing a game of skill.
Post by
Murrdurr
Most I have ever lost in a night of gambling the few times I went to Vegas was about $2300. But the following night was a hot night for me and ended up leaving with $1500 more than what I came with so i cant really complain. This was all done playing mostly blackjack, I get so addictive quick haha.
Post by
Squishalot
But I don't get any "gambling guilt" because I see what I do as playing a game of skill.
You do know that 'gambling guilt' is caused by the fact that your money could be better spent on other better things, like disaster relief, for example, rather than lining the pockets of other rich peeps?
Post by
donnymurph
Usually the "better things" would be rent, food etc. And I'd never be dumb enough to jeopardize that money, even I was playing well.
As for donating to disaster relief, yes I do - and I haven't been to the casino in over a month.
Post by
Squishalot
Usually the "better things" would be rent, food etc. And I'd never be dumb enough to jeopardize that money, even I was playing well.
As for donating to disaster relief, yes I do - and I haven't been to the casino in over a month.
I know you do. Just the point that there are 'better things' other than rent / food money. It's like smoking - I remember a stat back in primary school that the average smoker spends enough money on cigarettes to buy a new car every few years. The cost of a pack of cigarettes is enough to feed a family for a week or two in some African nation, etc.
I could never stand to lose $300 in a casino night, simply because there's so much else I could've gotten with it.
Post by
donnymurph
It certainly sucks, but I don't attach any guilt to it. I just know I've gotta live skint for the rest of the week - no drinking, no fast food, no putting money away etc.
I smoke but I roll my own, which brings the cost down to around $22 every 8-9 days for me.
Post by
Squishalot
That's still an unlimited-plan phone cost ($60 a month?), or a quad-box WoW setup, or a new console game every month or two, or....
Yeah, I'm fairly materialistic like that :P $60 a month isn't much compared to a $3k mortgage, but for me, it's all the more reason to save as much as I can.
Post by
donnymurph
Ah, I see. I guess I don't really desire material possessions. I'm more of a Hedonist, I just like to enjoy the moment.
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