Gambling

[Vigilante]

Like the smoking thread... same question regarding gambling.

Are people drawn to the Fast Lane more likely to be regular gamblers?

I know two billionaire entrepreneurs personally.

One is a high rolling, high flying bigger than life personality. He's an aggressive gambler, and a big roller in Las Vegas.

The other is a low profile, more quiet and private guy. Gambling doesn't fit him.

So...

gambling. Do you gamble? Is there any correlation between entrepreneurs, fastlaners, and gamblers?

 

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[hatterasguy]

No I don't like games with my hard earned money that are stacked against me.

I go to Atlantic City once a year around new years for a trip and its fun. Last year I gambled only $150.

 

[Giles]

Never been into it - too tight with my money.

I'm into Forex however, which is a mild form of gambling I guess. I'm watching my account now fluctuating between a $100 profit and $50 loss all morning. Rise dammit!

 

[Likwid24]

I used to bet on football but learned my lesson real quick. I was big into cards when I was younger but that faded. Still like to play a little but just for fun. Now I like to get in to super bowls pools and maybe a final four pool but not much else. Maybe once a year I'll go to Atlantic City and play some black jack and roulette at the low limit tables.

Not sure if it has any correlation with being fastlane. I mean, most of us are risk takers, but usually it's a much more calculated risk than gambling. I personally know some very wealthy people who always go to Atlantic City and some who despise gambling.

 

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[CryptO]

Interesting!

Like smoking. I criticise it and do not approve of it. But I have dabbled in it before. I think that once you realise that no matter what you do the house will always win eventually. There really is absolutely no point.

That said I am taking a gamble right now on one of my websites, so in a way, yeah, it is a bit like the same thing. Only I like to think slightly more calculatable. (is that a word?)

Its equally on a par with the kind of people who smoke not evaluating the risk and not seeing that they are just lining the pockets of the organisers.

Gambling in the traditional sense. Not for me at all.

 

[Taylor Campbell]

The great thing about gambling is the probability of you winning goes up the more you play; of course this only applies to lottery tickets.

 

[MJ DeMarco]

For those of you who are saying that you can't post in this thread, the system is flagging the word "p0ker" (Spelled correctly, not with a zero) as a banned word and presenting you with the blank screen. If you are using that word, spell it with a ZERO, not an O -- at least until I figure out how to remove the censor.

 

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[The-J]

I bought a lotto ticket sometime near my 18th birthday but that was it. I wanted to know how it felt.

 

[Jake]

attempted to edit numerous times with a ton of variations. Seeing if this goes through

After edit: I'll try this again..maybe the game where you try to get 21 was a trigger as well? I tried it with @ and had the same problem

I hardly ever g@mble. It's illegal in Thailand and I haven't see a c@sino in Afghanistan either lol. I did indulge in some try to get 21 and pull on the handle games at the Marina Bay sands in Singapore a couple of months ago and ended up losing several hundred $'s. Oh well..it was a fun night.

Edit again: success. C@sino or g@mble must be a trigger as well

 

[MNentre]

For those of you who are saying that you can't post in this thread, the system is flagging the word "p0ker" (Spelled correctly, not with a zero) as a banned word and presenting you with the blank screen. If you are using that word, spell it with a ZERO, not an O -- at least until I figure out how to remove the censor.

That makes so much more sense now... I tried posting in here AND in my Intro post.... both referring to p000ker!

But yes, I am the gambling type. I played a lot of p0ker in college and got in early during the "Moneymaker Era". I'm not too big on table games and slots, though. I dont play games where I can't beat the house. In p0ker your playing against other people, so there is a lot more money to be made.

 

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[johnp]

I was in the c@sino last night for the time time in a long time. So that is why I am replying to this post. I was there for fun with my fiancee and a few friends. We got there around 12am and stayed until about 2am. If you go to the c@sino anytime after 1am then you see a big transition in the type of people who are there. It gets extremely serious. The people stop having fun. You tend to see more people 'grinding it out' - it's slowlane all of the way. Trust me, I have spent many nights in the c@asino after 1 am.

I used to consider myself "semi-pro". I g@mbled a lot during my college years. I'm taking hardcore big betting games (b@accart), If I wasn't in college, then i would have made a big push to g@mble full time. I learned that g@mbling is slowlane all of the way, so I stopped and focused on my fastlane ideas instead. But I have some insane stories. Nothing beats the very first time that I sat at a table and watched two Asian men move 80k worth of chips between themselves and the dealer in 30 minutes.

I have been to c@sinos all along the East Coast of the US. I have come across people from all over the world. I wrote an ebook on money management in ga@bling and sold it to people all over the world; mainly in Asia and Europe. I found 4 different types of people who play the games.

1) The Rich - These are the fastlaners who who have money to play. We call them Whales. Sometimes they get an entire table to themseves. They bet big as their wives play in the shopping malls or sit at the sl@ts betting $500 per spin. They don't care whether they win or lose. This is how g@mbling should be. It's fun.

2) Retired Businessmen Who Play Semi-pro - Then there are the retired businessmen. A lot of these guys are people who sold off their business and spend a few days per week in the dark pits of the c@sino. They will use words like risk management, variance, bankroll, progression, trends, and so on. They will argue that a bad day in the c@sino is like a bad day with their business. This was my largest client base when i sold my book.

3) Addicted People - You will see these people at the c@sino at all hours of the day. You see these people coming out at night. I would say that this is the majority of the people who g@mble. It's sad.

4) G@mbling rings - These people (usually asian) pull their money together and load into the c@sino at 8am and leave late. They try to grind out a small profit. They usually have a "manager" who stands back with his hand folded watching. These people play with "dirty" money, they are stuck in the slowlane all of the way, and they are nasty to deal with. In AC or Chester they will kill you if you get in their way.


I think that g@mbling is slowlane disguised as fastlane. There is nothing fastlane about the c@sino. The house edge is against you from the moment you walk in. Any chance of hitting the 'big win' is a luck event. You can get the Beat Beat at a table - luck event. Big payout at a machine, luck event. And you will never get a big payout at a table unless you bet big. There was one guy last night standing behind me betting $50 to win $25 at 1am. I couldn't even begin to wrap my mind behind his logic. I was about to tell him to take that money and start a blog or something. Write something. Sell socks. Just get the hell out of the c@sino.

The real question: How do you turn it fastlane? There is huge potential here for money. For example, some people take it fastlane by building online c@sinos.

 

[PatrickP]

I don't gamble as I hate to lose.

BUT I did earn $127,000 in one day at Casin0 on Net. A group of 30 of us made a total of 3 million Sept 25th 2001.

You used to be able to make thousands a week at online casinos with the bonuses. If anyone is interested I am happy to go into detail.

Unfortunately the casinos got wise and lowered the bonuses and/or raised the wagering requirements.

 

[johnp]

You used to be able to make thousands a week at online casinos with the bonuses. If anyone is interested I am happy to go into detail.

Yes! I did this in a week with the bonus thing. I made like 500 bucks. Then as you said, the casinos got smart.

 

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[BeingChewsie]

No, I don't gamble. I don't like putting money into things I can't control. I guess I'm way too much of a control freak.

Sue

 

[Trevor Kuntz]

I play Texas Hold 'Em at least once a week, sometimes twice because I play with two different groups. We play just because we love the game and because we like getting together and hanging out, but we play for money to keep the games serious and competitive. Very low buy-ins though, so the most I'll ever lose in one night would be like $20 tops. I don't play the lottery or go to c@sinos or anything, so I wouldn't call myself a gambler. The lottery is just like throwing away my money, and I hate the atmosphere of c@sinos. But I love the experience, fun, and camaraderie of playing p0ker with friends. I'd spend $10-20 to go hang out with them somewhere else anyways (restaurants, sporting events, etc), so I don't think it really makes a difference in my bank account.

 

[huy]

I used to grind online for a bit before FTP was taken down. While it was fun at first, it became a chore once you learn the game. You always have to make the best decision with incomplete information and even if you play your best, there are just days where variance is against you and you have to deal with a downswing. With that said, I'm glad I'm no longer grinding because I'd still be trading my hours for money. Also, it isn't nearly as profitable as in the early 2000s.

 

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[PatrickP]

Yes! I did this in a week with the bonus thing. I made like 500 bucks. Then as you said, the casinos got smart.

By any chance were you in it back in 1999 - 2001?

Those were amazing times. By about 2002 it was basically dried up compared to what it was.

 

[johnp]

By any chance were you in it back in 1999 - 2001?

No I wish I was though. Sounds like I could have made some good money back then. I found some good ways to make money using the online c@sino bonuses a few years ago. Got real lucky on a few different c@sinos. It was like they were giving free money away. Then the next year it all started drying up.

I even had someone in the Uk program a bot for me to help out with the play through requirements while I was sleeping. But then the bonuses for the live online casinos really started drying up even move and I lost the bot with a computer crash.

I think that most of my success came from the online c@asinos. But I always felt kind of strange walking into CVS each week with a couple hundred dollar money gram check from some third world country.

No, I don't gamble. I don't like putting money into things I can't control.

Back in the day you didn't have to do this with online c@sino bonuses. C@sions would give you free money, which you could play through to a certain point. One time I got a $50 free chip for some online slot machine. I must have played the slot on a good day and I worked up to about $900. I got to withdraw $700 and it only took me a day to do it. But I see what you are saying and I feel the same way. the control thing is a huge issue. You would be surprised at how many people think that they have control of the outcome.

 

[1PercentStreet]

I bet $1k on the lotto once just for the hell of it, but I wasn't attached to the money. Did win almost all of it back(which reminds me to go claim them now haha)

 

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[Rickson9]

Billy Walters. Fastlane from gambling. He believes that he can control the risk. No matter what profession, you can be that there is probably somebody out there making a fortune at it. There are a million ways to make a million bucks.

Billy bets around $2m on football on any given Sunday. In the video he played golf for $5k per hole. He owns a $20m private jet, 7 homes, 4 golf courses, and 8 car dealerships.

[video=youtube;d6FAUQ6SFKM]http://www.youtube.com/watch?v=d6FAUQ6SFKM[/video]

Also seen in this thread:
https://www.thefastlaneforum.com/fastlane-millionaire-stories/29440-gambler-makes-hundreds-millions-dollars.html

 

[PatrickP]

Headline 5 years from now Billy Walters declares bankruptcy from gambling losses.

Never know it could happen.

I went to Atlantic City with a girlfriend of mine. Her parents were limoed in, greeted by the managers of the casion, all food drinks, rooms etc were comped. they knew the pit bosses by name etc etc.

They always told people how lucky they were and how much money they were winning. We broke up, I lost contact with her but then 4 years later I saw her. She said she found out the reality was her parents DID win big the first time. Something like 100K on the slots.

But then kept losing, mortgaged their house, second mortgage etc.

They say people who win big the first time gambling are over 20 times more likely to develop a problem than someone who loses their first time.

 

[BeingChewsie]

Billy Walters. Fastlane from gambling. He believes that he can control the risk. No matter what profession, you can be that there is probably somebody out there making a fortune at it. There are a million ways to make a million bucks.

Great video! If I were going to "gamble" (I have a hard time calling what he does gambling, it looks a lot more like a business to me), this is how I would approach it. In fact if more people approached their business operations with the same seriousness and same analytical approach as Billy Walters, there would likely be a lot more success. This man just doesn't throw shit up against a wall and hope it sticks, all his work before hand bends the odds in his favor, there is a lot of process there.

Sue

 

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[DeletedUser394]

I want to own a couple of casinos in the future...

other than that not interested in partaking in things that are -EV.

 

[Rickson9]

Headline 5 years from now we could all declare bankruptcy. Never know it could happen. Don't hate. Have some respect for a person who has bucked the haters for decades. Give credit where credit is due. For every success story there are a thousand people citing a thousand ways it will go south.

Headline 5 years from now Billy Walters declares bankruptcy from gambling losses.

Never know it could happen.

I went to Atlantic City with a girlfriend of mine. Her parents were limoed in, greeted by the managers of the casion, all food drinks, rooms etc were comped. they knew the pit bosses by name etc etc.

They always told people how lucky they were and how much money they were winning. We broke up, I lost contact with her but then 4 years later I saw her. She said she found out the reality was her parents DID win big the first time. Something like 100K on the slots.

But then kept losing, mortgaged their house, second mortgage etc.

They say people who win big the first time gambling are over 20 times more likely to develop a problem than someone who loses their first time.

 

[PatrickP]

Headline 5 years from now we could all declare bankruptcy. Never know it could happen. Don't hate. Have some respect for a person who has bucked the haters for decades. Give credit where credit is due. For every success story there are a thousand people citing a thousand ways it will go south.

Where the F did I hate?

I am getting tired of people reading things into posts here that the person did NOT intend in ANY way shape or form.

It was a J - O - K -E

Get it Rickson.

Life it too short Rickson don't take yourself so serious or the guy you posted about.

 

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[johnp]

Give credit where credit is due. For every success story there are a thousand people citing a thousand ways it will go south.

I'm sorry..where is the credit due? Some guy is making money g@mbling. This means that the odds have not caught up to him. Or the odds have caught up to him and he is putting on a show. I didn't watch the video because I take all of this stuff with a grain of salt. I have seen and heard far too much to ever give credit to anybody who says that they are successful in g@ambling.

People like this come along all of the time. IF they are not putting on a show, then it simply means that the -EV has not caught up to him. I have seen these people come and go. One guy was selling his "winning method" for 2K a piece. 2 years later it busts. He goes missing for 1 year and returns later saying that his kid was sick. It turns out that he was doing some time in jail after tying to win his money back by scamming some older people.

One of the "most skilled" b@accarat players who have played the game put a hole in his head. It's funny, he was the most skilled, yet he was millions in the hole. I guess he was the most skilled at losing?

Then you have one of the world's greatest card counters. Left his family to g@mble and count cards in Vegas. Made millions only to give it back and make it again and again. Got booted from Vegas and started the card counting scene in AC. Made millions again and a few years later he was found dead with a bullet hole in his head. Ruling - This "successful" g@mbler killed himself has a result of depression and drugs.

I personally know "successful" g@mblers who have fallen off the the map. They claimed to be winning for years, and then one day they vanish. Some people are just too proud to admit that the -EV caught up to them YEARS LATER.

I personally (personal opinion) think that it's hard to give credit to people in this line of work. They aren't really winning. It's just a matter of when they are going to start losing. All they do is create hype, which only fules the illusion. There have been people around me who have driven their cars right off the top of buildings after losing.

Okay, wait. I'll be fair. There are people who are successful at trading their time for money in p@ker. Yet if you really look at these pros, they are usually in massive debt, backed by investors, or owned by some p@ker company.

You only "win" if you play in moderation, or if you are a whale who doesn't really care.

And if you are winning, then the negative atmosphere of c@asinos and the nature of c@sions will eat away at your sanity.

 

[MakeItHappen]

IF they are not putting on a show, then it simply means that the -EV has not caught up to him

Bullshit lol
Who says that he is making ev- bets in the first place? I am an professional gambler for 6 years now so i guess i know what i am talking about... there are many ways to overcome the ev- in sp0rtsbetting it's like the stockmarket if you buy/bet at a good price in the long run you will win and come on don't compare b@accarat with sp0rtsbetting that's like comparing p0ker with r0ulette :talktothehand:

 

[Rickson9]

Haters gonna hate. Just like 99.99% of the comments on articles about success...

Not surprisingly haters typically have no success in the field that they are hating. Imagine that...

 

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[johnp]

Like I said..I didn't watch the video. I was referring to minus ev games. However, with sports betting a lot of people are still losing & sports betting is still g@mbling. So you can compare them in some way..although I do agree that they are not the same.

 

[johnp]

Not surprisingly haters typically have no expertise in the field that they are hating. Imagine that...

Yea I only wrote a book and sold it to people all over the world.

Haters gonna hate. Just like 99.99% of the comments on articles about success..

You haven't seen enough people talking to their chips :smx6: haha