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What's the logic behind gambling and casinos?

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Contrarian Expatriate
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Re: What's the logic behind gambling and casinos?

Post by Contrarian Expatriate » November 24th, 2015, 1:41 am

Gambling is a bait and switch scam that plays upon certain peoples' addition to dopamine boosts after small winnings.

It is predicated on the statistical probabilities that ensure the more you play, the more you lose even though small winnings are dispersed throughout the time of play to keep you hooked.

Healthy people can see the scam for what it is worth, but people with dopamine-addict personalities or who do not understand the math, lose big.
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Re: What's the logic behind gambling and casinos?

Post by cdnFA » November 24th, 2015, 2:11 am

I don't do casinos. I do buy lotto tickets on occasion. My brother calls it a tax on the stupid. My brother in this regard is an idiot and over all a muggy little twat.

I only buy 1 ticket. You buy any more than 1 ticket and you are being stupid. 2 chances in millions vs 1 is a mathematical doubling of odds but in human terms still 0.
Buying 1 ticket vs 0 is still basically 0 chances of wining but you introduce a theoretical chance of winning. That chance of theory really spices up the fantasy life and makes day dreaming much more fun. Sadly it is my only hope such as it is.

Likewise I only play the big Canadian and American lottos [close to the border for the win] when they go beyond a certain amount. That saves a lot of money. If I am not going to win and am only playing for the fantasy, might as well dream big, like 40+ for the Canadian and 300+ for the American.
When none of the lottos are that high, I can still dream of winning the next big one.

I don't think what I am doing is irrational. I get a lot of joy out of minimal spending. Even if I don't have a lotto ticket I can still dream of the next one.

Sadly most people buy multiple tickets thinking it will make a difference, play no matter what the prize is and worse of all play with teams. WTF is that. Ohh I increase my odds of winning from 0 to 0, sure bud but at the cost of cutting the dream to a fraction of what it could be. Exceptions of course if people are playing with a hard core group of friends and getting 1 ticket but that never happens.

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Re: What's the logic behind gambling and casinos?

Post by onethousandknives » November 24th, 2015, 4:20 am

cdnFA wrote:I don't do casinos. I do buy lotto tickets on occasion. My brother calls it a tax on the stupid. My brother in this regard is an idiot and over all a muggy little twat.

I only buy 1 ticket. You buy any more than 1 ticket and you are being stupid. 2 chances in millions vs 1 is a mathematical doubling of odds but in human terms still 0.
Buying 1 ticket vs 0 is still basically 0 chances of wining but you introduce a theoretical chance of winning. That chance of theory really spices up the fantasy life and makes day dreaming much more fun. Sadly it is my only hope such as it is.

Likewise I only play the big Canadian and American lottos [close to the border for the win] when they go beyond a certain amount. That saves a lot of money. If I am not going to win and am only playing for the fantasy, might as well dream big, like 40+ for the Canadian and 300+ for the American.
When none of the lottos are that high, I can still dream of winning the next big one.

I don't think what I am doing is irrational. I get a lot of joy out of minimal spending. Even if I don't have a lotto ticket I can still dream of the next one.

Sadly most people buy multiple tickets thinking it will make a difference, play no matter what the prize is and worse of all play with teams. WTF is that. Ohh I increase my odds of winning from 0 to 0, sure bud but at the cost of cutting the dream to a fraction of what it could be. Exceptions of course if people are playing with a hard core group of friends and getting 1 ticket but that never happens.


I only buy $1 scratchoffs, and I've probably only bought 3-4 this year. On $1 scratchoffs, the odds are actually 1:4 or 1:5, usually you only win $1, but still, one time I did actually win $80 off one. I figure at $80, I've now at the very least over my lifetime broke even for lotto tickets, so I pretty much stopped after that. I don't see a point in buying say, $5 scratchoffs, or $20 scratchoffs, as they still have odds of 1:4-5 as well, so your chance of winning is not increased over a $1 ticket. The prize amounts are somewhat more, but not enough to justify the cost, as a $1 ticket max prize payout is $1000-3000 generally, so I think you have much better mathematical odds of buying 20 $1 tickets instead of one $20 ticket, as the odds of winning are still the same.

Or uh, don't buy them at all and buy an Arizona Green Tea instead.

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Re: What's the logic behind gambling and casinos?

Post by PeterAndrewNolan » November 25th, 2015, 5:04 am

Winston wrote:Some more questions:

Why do many men play poker with their buddies? They show this in TV/movies all the time. In poker, the winning hand wins the whole pot and everyone else loses. So the losers outnumber the winner of one. Isn't such a game more bad than good? Doesn't it cause more harm than good, since more people lose than win? Especially among a group of friends?



Hi Winston,
poker is a game of skill just like chess....so guys play poker as a competition....and the money just adds a little spice to it....if you beat your buddies not only do you get bragging rights you make a few bucks as well...I played a lot of poker at university.
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Re: What's the logic behind gambling and casinos?

Post by skateboardstephen » November 28th, 2015, 1:51 pm

Someone mentioned Filipinos being vulnerable to gambling and that is so true. I used to date a Filipina in the USA who could not stop gambling. We used to go to Atlantic city all the time.
se eu soubesse o que eu sei hoje, teria mando mulheres americanas para foder-se há muitos anos.que deus abençoe o brasil!

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Re: What's the logic behind gambling and casinos?

Post by Winston » December 13th, 2015, 6:50 pm

Yesterday me and my family went to a casino for a buffet. At the casino slot machines, I noticed that everyone playing was fat, ugly, degenerate and looked low class. No offense to any slot players out there though. But that's what I usually see in casinos. You never see anyone attractive or intelligent looking playing slot machines. I sometimes see attractive people playing table card games, but not slot machines. Why is that? Is it because slot machines only appeal to dumb degenerate low class hickish blue collar worker types who don't like to think and aren't educated? lol
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Re: What's the logic behind gambling and casinos?

Post by djfourmoney » December 13th, 2015, 10:06 pm

All this pontificating is hilarious.

As the saying goes you can't win if you don't play. I don't complain about the CA Lottery as I don't play it. It's only obvious people are winning huge sums of money. In the end it's worth it.

What I don't quite understand is the logical developed in middle class households.

How did somebody come up with the $30,000 figure? At least as I understand it, the Lotto or Power Ball in your state the numbers change every week. If you buy 1 ticket per week that is $4 a month. Even at one ticket per day for seven days is $7 or $28 a month. Whatever amount you spend, you will make more once you win. The odds in the short term aren't in your favor, but the odds become a bit fairer the longer you play.

The majority of people don't look at gambling as an investment. If you play the stock market that's gambling but culturally acceptable, hmmm. Sounds like class warfare to me; the poor get to play the lottery, bet on sports or go to the casino but the rich get to play in the stock market. I suggest all of you look up MF Global just the latest in Wall St. shenanigans that impacts the small investor much more than the rich for obvious reasons.

Again this is why I don't poo-poo gambling. It's your small opportunity to get rich quick without a ton of risk. Doing it the hard way, building a business from nothing with a business model that's viable for at least 30 years.

The majority of the population feels it's not worth it, a rip-off so they don't doing it. Fine, that improves the people that do plays odds.

Considering the money people waste on a daily basis on what I call fluff; IE stuff that won't improve your live or comfort in any way you have no room to criticize those that gamble.

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Re: What's the logic behind gambling and casinos?

Post by alexmerlin » December 15th, 2015, 8:49 am

The players are generally the poor or middle class consumed by the greed. The other 10% of players are spoiled rich kids wasting their money gambling.

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Re: What's the logic behind gambling and casinos?

Post by djfourmoney » January 1st, 2016, 9:41 pm

alexmerlin wrote:The players are generally the poor or middle class consumed by the greed. The other 10% of players are spoiled rich kids wasting their money gambling.


Hmmm. So when the MIT kids figured out how to make money and LV cracked down violently they are consumed by greed? No they want a comfortable life without any fear of poverty.

Since "American Life" can be quite expensive this drives the demand for gambling.

Going up middle class actually I am comfortable where I am because I actually DO have an idea what poverty looks like. Could I use more money? Sure but what does it take to get it?

For most that would mean starting a business but look at how many loathe that idea...

They rather complain much easier, less risk and cheaper too.

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Re: What's the logic behind gambling and casinos?

Post by JohnDoeBigBaller » October 20th, 2017, 2:31 am

Winston wrote: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?
I've thought about this too. Basically it's human nature to want to play games. Video games were invented only 30 years ago. So before that, what did people do? They played cards and other casino type games. This is why the casino industry is dying, because it's being replaced by a new generation of kids who would rather stay at home and play video games than play games in a casino.

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Re: What's the logic behind gambling and casinos?

Post by Winston » October 20th, 2017, 11:00 pm

JohnDoeBigBaller wrote: I've thought about this too. Basically it's human nature to want to play games. Video games were invented only 30 years ago. So before that, what did people do? They played cards and other casino type games. This is why the casino industry is dying, because it's being replaced by a new generation of kids who would rather stay at home and play video games than play games in a casino.
But casinos are for adults, not kids remember? Adults are supposed to be more mature and rational remember? Even if i found gambling to be interesting, it gets old after a few times. Whats the attraction? Why is there a continual market for it?

Nowadays Las Vegas is like Disneyland. Its supposed to be a family vacation. But it is fun when you're there with a girlfriend though. Not when youre alone since its not a social place at all.
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Re: What's the logic behind gambling and casinos?

Post by Adama » October 21st, 2017, 12:21 am

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.

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Re: What's the logic behind gambling and casinos?

Post by HouseMD » October 21st, 2017, 2:55 pm

Gambling basically exploits the fact that some people have extremely strong reward pathways that overwhelm their decision making capacity. It's an addictive behavior like any other, where the rewards give enough of a high that it overwhelms any sense of suffering in the moment, resulting in a cycle of addiction. If you go, it can be fun to have the free drinks, see the live shows they've got going, hit up the restaurants etc if you've got a crew with you. And there are tons of drunk tourists in Vegas looking to get laid all the time.

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Re: What's the logic behind gambling and casinos?

Post by Winston » October 21st, 2017, 3:54 pm

Adama wrote: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.
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Re: What's the logic behind gambling and casinos?

Post by HouseMD » October 21st, 2017, 4:00 pm

Winston wrote:
Adama wrote: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.

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