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 OutMind
Joined: 2/13/2007
Msg: 52
Does my partner have a gambling problem? Page 3 of 4    (1, 2, 3, 4)
I gamble with Wall Street. I lost a good amount of money when the dot comps went busted. Sad as a dog, I look what I had and placed it on a company that at the time was also tanking. Apple. I bought at 18 and then it split.

That's the only gambling I do.
 Quasimodo11543
Joined: 7/21/2010
Msg: 53
Does my partner have a gambling problem?
Posted: 2/25/2013 1:51:22 PM
If you gamble with money that should be used for another purpose, it is a problem.
 MsMaggieMay
Joined: 2/2/2013
Msg: 54
Does my partner have a gambling problem?
Posted: 2/25/2013 3:56:36 PM

I don't do much drinking and I only snorted coke a couple times years ago,lol. I simply put gambling first before women. I don't need rehab just for that. It's not like women are paying my way in life, I just like picking where I lose my money. I am lucky that I don't have real problems, like becoming a sex addict with 9 children to take care of. If I had a woman two weeks ago she would have ask me what I could get her for Valentines day. Lucky for me I managed to avoid the confrontation. I would rather throw money in the air than buy someone a gift for Valentines day. When Christmas comes around the problems are created again. What can I do to make these screaming kids happy. Buy them Christmas gifts. I have a problem of being severely smart and I don't know who to go to for help.

There there *Pats head*. Do you feel better about your addiction now after that rant? Now quick run to the casino because it's the only thing that loves you.
 sigungq
Joined: 1/4/2013
Msg: 55
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Does my partner have a gambling problem?
Posted: 2/25/2013 4:03:27 PM
We all have a gambling problem when it comes to finding love............
 ARTSYLADEEEE
Joined: 9/7/2011
Msg: 56
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Does my partner have a gambling problem?
Posted: 2/25/2013 4:06:12 PM

I'm currently dating this man who seems to go to the Casino 2-3 times a week every two weeks or so. But the amount he bets makes me nervous, between $1000-$3000 each time. Does this qualify as a gambling problem??


I'll bet that he does.
 AvailableinIndy
Joined: 2/24/2010
Msg: 57
Does my partner have a gambling problem?
Posted: 2/25/2013 4:38:25 PM
yea, I went thru that a couple of summers ago....He would not be in a 'relationship' with me and every thing was on his terms. (7 months of my life I will never get back...) and I was glad when I quit seeing him. He was at the casino with his sister and mom all the time. ....yet, he complained he never had any money....Really?
 roadrunner2525
Joined: 2/12/2013
Msg: 58
Does my partner have a gambling problem?
Posted: 2/25/2013 8:45:32 PM
My computer has been shut down for almost 6 hours, just now got my nephew to hit the reset switch. So let me catch up here. Outmind I won 600 dollars on apple when it traded at 35, too bad I didn't stay with it. Abm you know exactly what I'm talking about.Vicki I think all of the attractive waitresses at the casino want me to take them home because they keep asking me if I need anything. I just put my hand in their face and say talk to the hand I'm busy right now. MsMaggie you hurt my feelings. Poor little roadrunner never hurt anyone, just running to the casino is his idea of having fun.
 bfbqueen
Joined: 2/20/2009
Msg: 59
Does my partner have a gambling problem?
Posted: 2/26/2013 7:37:33 AM
Are you seriously asking this question???
 roadrunner2525
Joined: 2/12/2013
Msg: 60
Does my partner have a gambling problem?
Posted: 2/26/2013 7:49:10 AM
bfbqueen I hijacked this thread because I am interested in it but the op is gone. I pulled this thread from the archives. Maybe he had a gambling problem, maybe he spent a lot and never won much. I am just wondering why people think that gambling can't work. Just because it is hard doesn't mean it can't work. Running a business is hard, working for mimimum wage is hard, why the automatic assumption that gambling is an impossible way to make a living. A lot of people use examples of other people whom have lost everything but every once in a while someone will say that it actually works sometimes and that there might actually be some skill to it.
 abmccray
Joined: 8/3/2008
Msg: 61
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Does my partner have a gambling problem?
Posted: 2/26/2013 9:28:28 AM
bfbqueen I hijacked this thread because I am interested in it but the op is gone. I pulled this thread from the archives. Maybe he had a gambling problem, maybe he spent a lot and never won much. I am just wondering why people think that gambling can't work. Just because it is hard doesn't mean it can't work. Running a business is hard, working for mimimum wage is hard, why the automatic assumption that gambling is an impossible way to make a living. A lot of people use examples of other people whom have lost everything but every once in a while someone will say that it actually works sometimes and that there might actually be some skill to it.


Mathematics is how the universe works, and you can't beat math.

All casino games are weighted towards the casino statistically. For instance, the best odds you can have in roulette on any given spin are 47.something percent. That means that, over time, you will inevitably lose ~3% of your money on red/black or even/odd bets. For betting numbers, the percentages drop drastically. There's no way around this because the stats even out. All those people looking at number trends are idiots and don't understand gambler's fallacy. There's nothing you can do to adjust the odds of any given spin there.

Even in Blackjack, where you can maximize stats a bit more fluidly, the betting rules favor the casino. Unless it's shallow shoes, it takes a ridiculously high level of math to "beat" blackjack's casino odds, with multiple people normally, and once it's figured out that you're doing that - you get kicked out.

Poker is the only game in which you can play in which you can legitimately win long - term and make a living off of it -and that's because you're not playing against the casino, but other people, and +EV calculations will always make you money long term (and most people don't play perfectly +EV, which is why you can profit off of them). Any other game or system is bunk, and you'll lose money long term*

The only way you can "win" in a casino in slots/craps/roulette/etc. is to get lucky, hit, and then immediately quit for good so as not to give any of those winnings back over time.

*Outside of cheating or knowing the inside track on machine usage/trends in a given casino.
 EyesRgreeN1962
Joined: 2/1/2013
Msg: 62
Does my partner have a gambling problem?
Posted: 2/26/2013 9:46:53 AM
If you have to ask ... the answer should be obvious to you.
 roadrunner2525
Joined: 2/12/2013
Msg: 63
Does my partner have a gambling problem?
Posted: 2/26/2013 9:51:51 AM
abm I am not a card player but I look at two other scenarious. If you were at the dice table and you had a friend play the pass line while you played the don't pass line, neither side loses unless the twelve is rolled. Not all craps tables are the same but for some either the 2 or the 3 or the 12 is a push where the house wins. If two people had a lot of patience they wouldn't play the odds but would consider the probability of the field not missing a long period of time as a really good bet. I saw on the internet structures in gambling that were discovered by someone else a long time ago. If you double your bet from 15 to 30 to 60 and the odds hit the field 42 percent of the time, it's possible to lose nine rolls straight but highly unlikely. I do these scenarios on my computer and go through 1300 rolls straight without being broken by the double down method, which breaks after 9 rolls because you reach maximum bet. What if you played neutral for the first three non field rolls then started the double down. That gives you twelve chances to hit the field without breaking. On the slot machines they have the blazing seven machines which is a low progressive slot machine. Sometimes they go for weeks and seldom go above 450, other times they go to around 600 but hardly ever much over that. On those types of machines it makes sense to me that you just wait till a machine has a high number before you start playing it. It takes two or three people to watch machines like that because it often hits the jackpot while you are waiting for a better number, but you don't lose anything but time if you are just waiting for opportunity,
 lowmiles2
Joined: 6/5/2007
Msg: 64
Does my partner have a gambling problem?
Posted: 2/26/2013 10:05:41 AM
Maybe.... if he has money to burn then maybe not but if he struggles to pay his bills etc... then yes he has a gambling problem. That being said, I would have to believe in the end he has a gambling problem. You can not win at a casino. Over a period of time the casino always wins. No exceptions to the rule. Eventually he'll be broke if he continues to gamble in the fashion you have described.
 lowmiles2
Joined: 6/5/2007
Msg: 65
Does my partner have a gambling problem?
Posted: 2/26/2013 10:10:09 AM
The casinos only accommodate "poker players" they do not have skin in the game. Players are competing for other player's money.
 roadrunner2525
Joined: 2/12/2013
Msg: 66
Does my partner have a gambling problem?
Posted: 2/26/2013 10:19:37 AM
lowmiles I agree with you that sooner or later the casino will beat you but I use the same rule in gambling as I do in business. If You own a small building that sells food and you have the property tax figured in along with insurance and employee cost, etc., you can only sell so much food in that small area. You probably wouldn't want a building across the street selling the same exact product. So across the street you put in a real estate office and down the street you put in a go cart track. Most rich people make money off a ton of different businesses. They aren't locked into one business. So I would play the casino, stock market, and get in one or two other businesses that have solid income. The reason most people lose money at gambling is because they don't have enough money to make it a good gamble. I think people ought to gamble collectively. One hundred people invest on one player to put in the best gamble possible and then if he loses repeatedly cut him off. People are stuck in dead end jobs and they don't even have a clue how to make money with money. The rich people don't work at all and they have all of their money working for them.
 lowmiles2
Joined: 6/5/2007
Msg: 67
Does my partner have a gambling problem?
Posted: 2/26/2013 11:10:11 AM
Casinos are attractive and provide a place for people to interact with one another. The draw isn't always the gambling but the 24/7 availability. Being someplace other than their home, apartment etc...... or girlfriends house!
 leanco
Joined: 12/7/2006
Msg: 68
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Does my partner have a gambling problem?
Posted: 2/27/2013 2:00:14 AM
I suspect a lot of people - especially casino-goers - has at some point thought about making a living at gambling. Thankfully, most don't take that thought seriously to give it a go. For the few who's attempted it, they've probably found out quickly how incredibly hard it is to do. And if they are not careful, the whole experiment can become a very expensive life lesson as well.

Most of the games inside a casino are games of chance. This includes slot machines and most table games. They are called games of chance because the outcome of a hand is completely random and unpredictable. More importantly, the chance of a certain outcome occurring is dictated by the laws of probability, which has been carefully worked out by mathematicians eons ago and has since also been verified to an exquisite degree. The skills of the individual player do not and cannot alter the odds. Winning at these games of chance is solely determined by luck - a fact that many avid gamblers is unwilling to accept.

Poker and sports betting are the only two games where the player has a chance to win over a long period of time, the key word being 'over a long period of time'. If you're more knowledgeable and have higher skills, you are going to win more bets than you lose. So is it any surprise that professional gamblers only focus on these two endeavors?

I think there are a lot of misconceptions about gambling in casinos. People believes that nobody wins in the long run, but that's actually not entirely true. In fact, the math predicts that there will be a few, a very selected and lucky few who will end up a lifetime winner playing games of chance. There just aren't very many of them. Yes, the house will win in the long run, and the players as an aggregate must therefore lose. But the fate of each individual player varies widely. Most will lose, some more than others, but a very few is also allowed to win. Nobody plays in the long run, not because the player doesn't want to, but he simply can't. The long run is such a large number that no player will live long enough (even if he starts from the time he was born to the day he died, 24/7) to experience anything close to the proverbial long run. But in the short run, anything can happen. In the short run, volatility rules. That's important to remember.

Which leads to the next point, which is known as the Gambler's Fallacy. If you double up after each losing bet, eventually you will win a bet and you'd recoup all your prior losses, plus one unit of profit as reward. There is nothing new about this and is one of the oldest gambling system around. It's called the Martingale, and it is built on the idea that you will not lose forever. It's heartwarming to know that nobody will lose forever, but I wouldn't bet a dime of anyone's money with the Martingale, certainly not with my own money. Straightly as an anecdotal observation, I saw a man played this way at the craps table and it wasn't pretty sight. He started off with $5 on the Don't Pass Line, and chased his loss all the way to the table limit, where he proceeded to lose a few more hands at that level, before exhausting all his funds. The moral of the story is, if you think a string of consecutive losses is highly unlikely, just start betting with real money and see how quickly probability tells you otherwise.

This post is getting off topic, I only hope it would deter someone from thinking that gambling is a realistic way of getting ahead financially. Very, very few people can do it, and going pro is not like what "Maverick" would have you believe. It's a very long shot, and it calls for more sacrifices that most people care to make. There are many ways to vacate yourself from the despair of poverty and dead end jobs, but gambling is not one of them.
 roadrunner2525
Joined: 2/12/2013
Msg: 69
Does my partner have a gambling problem?
Posted: 2/27/2013 3:25:07 AM
You want to use an example of what one man did and you saw him lose at the Martingale. That's why I said earlier that I wouldn't use a direct Martingale because it is based on only 9 rolls. I am not ever going to put the maximum bet on the table. I would play nuetral for at least 3 rolls and then start the Martingale and give up within 6 rolls.15,30,60,120,240,480. If I added it right it adds up to a total of 945 dollars for a nine roll play.With one hundred people that equal less than 10 dollars per person. Anyone whom has to sweat a 10 dollar loss has serious financial problems. On the other hand if you were to win repeatly they could easily double their money in one day. You can't do that at the bank. I am not going to vacate my gambling because I am hardcore stubborn. But I also know that no one else sees how easy it is to win when you play the right amount of money so you won't have any trouble convincing them that gambling is wrong. They are still trying to figure out if they should kiss on a first date. Gambling is way beyond their idea of danger. Someone told them not to play with matches when they were kids and now they don't know how to start a fire,lol.
 abmccray
Joined: 8/3/2008
Msg: 70
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Does my partner have a gambling problem?
Posted: 2/27/2013 7:12:49 AM
The thing you're missing is that losing ten dollars is still a loss. If you're going to be a professional gambler, you never, ever make a -EV move, except in the rare times you read another player perfectly, and predict what they're doing (poker).

EV= Expected Value. To simplify, if you make this move 1,000,000 times, would you profit from it long - term. So, for instance, every single move in poker is predicated on that, and the BEST players MAXIMISE their EV by making the moves that will make them the best possible profit in the long run, every time (as opposed to just profit), and purposely maneuver themselves in situations to accomplish that purpose.

Casinos make their money, and people lose over time by the "it's just so-and-so dollars" mentality. The main loss ratio comes from people wasting excess. If you're a pro-gambler, you avoid that pretty much at all costs, because it ends up being too easy of a bad habit to get into, and, no matter what, you're wastefully cutting into your profit margin.
 leanco
Joined: 12/7/2006
Msg: 71
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Does my partner have a gambling problem?
Posted: 2/27/2013 9:14:52 AM
My advice is free, and I know you're too hardcore to give probability theory any serious consideration. My intention is only for everyone else who is thinking about making money at gambling, for them to really try to understand the implication of the math behind these games of chance, and hopefully come to realize how unlikely their chance of success really is. Don't take my or anyone else word for it, but look up Gambler's Fallacy, Risk of Ruin, the Laws of Large Numbers and all things probability on the internet. If they still decide to chase this dream, at least they can't say that nobody has warned them when their dream turns into nightmare.

As for the downfall of The Martingale, or any other gambling system, this is not the forum or the website for it. As it is, this thread is already way OT and besides, I have no interest in further debating this subject.
 roadrunner2525
Joined: 2/12/2013
Msg: 72
Does my partner have a gambling problem?
Posted: 2/27/2013 12:19:41 PM
I am not really missing the fact that 10 dollars is a loss. I wouldn't want that to happen to my worse enemy but I like to think of it as the glass half full, half empty mentality where everyone should know that all decisions in life are a risk. None of the people whom wanted to keep their homes from foreclosure expected that the value of homes would fall through the floor. They also don't understand that when the value of homes goes up it just means more money for the local government. The government already own a good portion of the homes and they make welfare loans based on what they deem as market value. This usually helps the person in the real estate business because the prices get artificially inflated to get a raise in tax revenue. Coporate welfare is the one motor in the wheel that is purchased by lobbyist and oiled by government.I don't expect to have the ability in my feeble mind to keep rational tabs on negative or positive EV factors but I think the solutions are as varified as a chess match. Something else I excel at. As for the proper site to discuss this on I don't know of any sites that people can actually discuss gambling. I only know a few sites where the so-called experts sell books and give advice.
 abmccray
Joined: 8/3/2008
Msg: 73
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Does my partner have a gambling problem?
Posted: 2/27/2013 12:43:37 PM
roadrunner

Search for the 2+2 poker forums. They cover all of this stuff (+EV isn't really hard - it becomes intuitive as you play the game) as well as tips for maximizing yourself in ANY casino game (including casino reports where they talking about machine ratios, etc.).
 roadrunner2525
Joined: 2/12/2013
Msg: 74
Does my partner have a gambling problem?
Posted: 2/28/2013 9:10:22 AM
I looked into that site and the first thing I noticed was that a lot of people complained about it. The second thing I saw was that I either had to log in or not participate. I don't want to log into it because I think that it is mainly about selling the option to gamble online. I am not a card player and the worse kind of gambling anyone can do is online. Their is no way to trust anything that isn't live action. I am not saying that you can't win at poker but I know I will never be interested in a card game even if all the experts at MIT states that it has the best mathematical odds. I am only ranting about this now because my thread is disappearing and I was looking for input on peoples gambling experiences. I would actually like to find a gambling partner that thinks like me but I don't see that happening anytime soon. Thanks for the info anyway.
 TuMuchFun
Joined: 9/29/2008
Msg: 75
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Does my partner have a gambling problem?
Posted: 2/28/2013 11:17:52 AM
I'll lay ya 3 to 2 he does...collectors are not cats you wish to come across.
 roadrunner2525
Joined: 2/12/2013
Msg: 76
Does my partner have a gambling problem?
Posted: 3/1/2013 10:28:56 AM
Fortunately I have never had to deal with collectors, they have never seen me as a big enough gambler to warrant those kind of problems. I have lost my temper a few times and broke a few slot machines but I paid for them. Thought I was going to go to jail but they let me go with a warning. I finally learned how to control my temper and started concentrating on what it really takes to win. My last ideas on slot machines have been resting in my mind since I haven't worked much lately and haven't had any money to gamble with. I actually think I have come up with some pretty solid ideas but if gasoline prices keep going up my trips to the casino will be fewer and further apart. I don't think I have spent more than a couple hundred in the last 3 months.
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