What's the logic behind gambling and casinos?

[Winston]

There's a theory out there that the multi-hundred million dollar lotteries are hoaxes, with the rationale that it would give the winner automatic-super elitist status without having to come from the right families and without having to submit to major corporations.

As for casinos, I think I did a couple of slots machines, but I have never seriously gambled. It seems to me the whole niche is designed to rob a person of his life's savings, home and every penny he has. I stay away so that I don't get sucked in to lose everything on a whim.

It could easily be a hoax with staged actors. But then those actors would have to be seen in large mansions and yachts right? Or do they just go away to the Caribbean and disappear out of sight? Lol

Also if the lottery were a hoax, what would happen if someone actually won it that wasnt part of the hoax? Hasnt that happened?

It's not a hoax- it's just a bone being thrown. Money doesn't give these people power, they're just weak people with a lot of cash. Most of them blow it all and are broke within a few years, because they were poor to begin with for a reason. Poverty is a mentality, and one which they cannot escape by simply being handed money. That's why I'm on the path to being fine and most people I know are spinning their wheels- I have a wealth mindset that's put investing and acquiring property front and center, while they're distracted by buying the latest consumer garbage.

To a certain extent poverty can be a mindset. In the Philippines you can give a lot of money to a poor family and it will always spend it all and be poor again. Thats why ive asked filipino bar girls and freelancers, "what does it matter if i give you 1000, 2000 or 3000 pesos? Either way you will be broke the next day and desperate for cash again." They can never give me an answer to that question and im not even sure they understand the question. Lol

But to some extent its circumstance and opportunity too. Some inherit their wealth and some have no chance to make money because their wages are too low. And money managing skills matter too. Some are just talented with money and attract it, like Chinese and Jewish businessmen are. There are Chinese people with small incomes who save up a lot of money over decades too.

What do you mean you have a wealth mindset? Are you trying to be an entrepreneur? I thought you were a medical student and going to be a doctor? A doctor has a high income in the US but they gotta work very long hours i heard. Most of my cousins went that route.

You should read that book "think and grow rich" by napoleon hill. You'd probably like it. Lol

Yes buying properties and land is the way to wealth. Many rich chinese do just that. Its the most stable and sure way to wealth, because property always has value and usually goes up in value over time. Rock follows that strategy too. He buys up condos all over Asia and rents them out.

[HouseMD]

There's a theory out there that the multi-hundred million dollar lotteries are hoaxes, with the rationale that it would give the winner automatic-super elitist status without having to come from the right families and without having to submit to major corporations.

As for casinos, I think I did a couple of slots machines, but I have never seriously gambled. It seems to me the whole niche is designed to rob a person of his life's savings, home and every penny he has. I stay away so that I don't get sucked in to lose everything on a whim.

It could easily be a hoax with staged actors. But then those actors would have to be seen in large mansions and yachts right? Or do they just go away to the Caribbean and disappear out of sight? Lol

Also if the lottery were a hoax, what would happen if someone actually won it that wasnt part of the hoax? Hasnt that happened?

It's not a hoax- it's just a bone being thrown. Money doesn't give these people power, they're just weak people with a lot of cash. Most of them blow it all and are broke within a few years, because they were poor to begin with for a reason. Poverty is a mentality, and one which they cannot escape by simply being handed money. That's why I'm on the path to being fine and most people I know are spinning their wheels- I have a wealth mindset that's put investing and acquiring property front and center, while they're distracted by buying the latest consumer garbage.

To a certain extent poverty can be a mindset. In the Philippines you can give a lot of money to a poor family and it will always spend it all and be poor again. Thats why ive asked filipino bar girls and freelancers, "what does it matter if i give you 1000, 2000 or 3000 pesos? Either way you will be broke the next day and desperate for cash again." They can never give me an answer to that question and im not even sure they understand the question. Lol

But to some extent its circumstance and opportunity too. Some inherit their wealth and some have no chance to make money because their wages are too low. And money managing skills matter too. Some are just talented with money and attract it, like Chinese and Jewish businessmen are. There are Chinese people with small incomes who save up a lot of money over decades too.

What do you mean you have a wealth mindset? Are you trying to be an entrepreneur? I thought you were a medical student and going to be a doctor? A doctor has a high income in the US but they gotta work very long hours i heard. Most of my cousins went that route.

You should read that book "think and grow rich" by napoleon hill. You'd probably like it. Lol

I'm way beyond that book. And once I finish residency, my goal is to hire a half dozen or so nurse practitioners, while using all but 60k or so of my income to buy rental properties. Within about five years, I can be making 80k profit off of each NP, 350k myself, and have a few properties that are netting me 1k/month each. Yeah, I'm living modest for perhaps another decade, but I can eventually sell my practice for a few million and live off of that and my rental income. Most doctors just blow their money on nice cars, big houses, and stupid things for their kids. I'm using my money to be in a place to retire wealthy by 45 or so, then I can head off to live in the PI or Thailand with 15-20k/month to live on.

[Winston]

Why not just go to Philippines or Thailand now HouseMD? And enjoy your youth while you're young? You can enjoy those places and even get bar girls, without spending a lot of money. There are ways to travel cheap. Many guidebooks on Amazon teach you how.

I dont trust in plans. Because as john lennon said, "life is what happens to you while you're making other plans."

Also if youre a doctor you can get a good american woman if you want. My short cousin who is a doctor even found a hot bride.

[HouseMD]

Why not just go to Philippines or Thailand now HouseMD? And enjoy your youth while you're young? You can enjoy those places and even get bar girls, without spending a lot of money. There are ways to travel cheap. Many guidebooks on Amazon teach you how.

I dont trust in plans. Because as john lennon said, "life is what happens to you while you're making other plans."

Also if youre a doctor you can get a good american woman if you want. My short cousin who is a doctor even found a hot bride.

I have a good American woman already. I'm not looking to leave this country for dating reasons, I've got plenty of sex coming my way regardless of the circumstances I'm in because I have a really solid social scene. And I'm living a pretty sweet life right now, in any case, so there's no rush for me to go. Plus I have to finish residency to be board certified, and that's a few more years of training. My leaving is more centered around that being the time most of my friends are going to be knee deep in children and my social life will begin to decline, so I'll be headed off to new adventures. And I enjoy medicine too much to leave it now, it's a great thing to be involved in.

[Adama]

There's a theory out there that the multi-hundred million dollar lotteries are hoaxes, with the rationale that it would give the winner automatic-super elitist status without having to come from the right families and without having to submit to major corporations.

As for casinos, I think I did a couple of slots machines, but I have never seriously gambled. It seems to me the whole niche is designed to rob a person of his life's savings, home and every penny he has. I stay away so that I don't get sucked in to lose everything on a whim.

It could easily be a hoax with staged actors. But then those actors would have to be seen in large mansions and yachts right? Or do they just go away to the Caribbean and disappear out of sight? Lol

Also if the lottery were a hoax, what would happen if someone actually won it that wasnt part of the hoax? Hasnt that happened?

Come to think of it, its possible that the people who win jackpots in casinos and slot machines are staged too sometimes, to give people the illusion that they can win a lot of money. I'm sure some win for real too. But its certainly possible to stage some of them. In a world full of fraud, stuff like that is certainly possible and plausible.

I was on a cruise once and a female relative won $1500 at the slot machines.

[Adama]

[youtube]http://www.youtube.com/watch?v=S4GoIKOxBV8[/youtube]

[Zambales]

Gambling on the lottery and in casino's should never be taken too seriously due to the odds involved. Certainly do not bet with money that you can't afford to lose.

But not all forms of gambling can be put into the same context as the above. Sports - notably, horse racing, can be profitable on a regular basis because it isn't solely reliant on luck. Unlike casino's and the lottery, the odds fluctuate meaning value can be found. It may not be a get-quick-rich fix but a living can be made if one is disciplined and smart. It's far from easy though and it's not something that can be learnt overnight.

There are "tricks of the trade" to gambling that the vast majority are unaware of. Money management is one. This is vital and on par in importance with the actual selection one makes.

It has been documented that approx. 97% of gamblers lose in the long run, mostly down to poor discipline/non-existent money management. The other 3% seek to win in the long run and treat gambling as a business, recording all transactions. They look beyond today.

Lastly, never drink alcohol when gambling because it effects ones emotions resulting in poor decision making. Ever been to a casino where they ply you with free drinks? Now you know why!

[Winston]

Check this out. David Kuvelas, aka Oil Trading Academy, claims to have a secret code to win in blackjack in casinos. Is there really such a thing?

[josephty2]

I don't understand something. What is the logic and rationality behind the activity of gambling and casinos? Why does such an industry exist and why is it so big, such as in Las Vegas and Macau? There is no logic to it at all. It should not exist. The obvious reasons are:

1. Gambling in casinos is NOT a level playing field, but a very unfair one. The odds are calculated to make you lose and make the house profitable. Why would any rational person play such a game where the odds are heavily stacked against him or her, so that he or she will most likely lose money in the end? I don't know about you, but I wouldn't play a game unless there was a level playing field, and the game was fair.

2. Most likely, gambling in casinos results in you losing your money, from a little to a lot. Why would you want to lose your resources and waste them like that? It's not logical. Only a small percentage of people win in casinos and even among them, most of them return to play again and end up losing their winnings. Only a rare few are able to somehow make a living from gambling, purportedly.

So what pleasure is there in playing an unfair game where you will most likely end up losing money? How is losing money a thrilling exciting experience? I don't get it. What do you gain? What's the logic in that? It doesn't make any sense.

I've never found casinos, slot machines, roulette wheels, card tables, or even lotteries, to be worth playing, for the above reasons. You aren't in control of the game really, so why play? Why willingly submit to a scam? Why would anyone knowingly engage in activity that's essentially a bad deal? Where's the fun and pleasure in that? I don't get it. Gambling is clearly not a thing that logical rational people do. Casinos should not exist. If everyone were logical, they wouldn't exist.

Anyone have any explanations that are logical and rational?

If you read a certain book and absolutely sure you cannot understand the concept of the title of the book. The book tells you to gamble in casino.

If your choice of book was correct you would in a few months be the successful millionaire poker player.