Gambling

Quote from Johnny Walker:

First of poker if played properly is not gambling compared to day trading. If you play poker properly (using probabilities and applying them over and over again no matter what) you are guaranteed to win over a very long period of time using a large bankroll. This is a fact that can be statistically proven using computers.
More...


So you are basically saying that:

IF you play poker properly

IF you play it for a very long period of time

IF you use a large bankroll

you are guaranteed to win.

Okay, but in order to decide playing poker is a good money maker, I would like to throw in some more ifs:

IF you dont make a mistake, ever

IF you dont consider the cost of your time

IF you dont consider the opportunity cost of your money (that is, the investment alternatives)

Now it sounds right. Under that circumstances I would personally take poker - and other casino games - from the entertainment category and put it next to the things I believe are somewhat profitable.


And sps_45, since I dont know you personally, I would like to restrict myself to a generic advice: keep your eyes open, most of the problematic gamblers dont admit they are what they are until they hit rock bottom and get desperate for help.
 
I am sorry,

but I think that Gambling and Trading is not the discovery of the Reeses Peanut Butter Cup.

These two words Gambling and Trading spell disaster

GamTradling is not where it is at, while I sit here in my boxer shorts and decide my financial fortune by pressing buttons...

ElectricSavant
 
Quote from Exodus:

Great STORY but like everything else that comes out of Vegas you can believe 1/4 of it. :cool:
More...

Does that mean that you really believe only 1/16 of it? :)
 
Gambling & trading has lots in common including money management, system, mental aspect, etc.

Jean Scott is a teacher turned pro, writing books & gambling full time. I read one of her book to pick out the game video poker. Jean recently won a six figured jackpot in a group. The process is very interesting too:

http://www.lasvegasadvisor.com/frugalfridays.cfm?FrugalFridayID=340
http://www.lasvegasadvisor.com/frugalfridays.cfm?FrugalFridayID=341
http://www.lasvegasadvisor.com/frugalfridays.cfm?FrugalFridayID=342

Here is her archives for other interesting articles:
http://www.lasvegasadvisor.com/frugalfridays-archive.cfm

Another pro is Bob Dancer. He used to be a programmer & made millions in gambling. I have his video poker training software to refresh probability of each hand. Here is his articles:
http://www.bobdancer.com/articles.cfm

Both are proven successful gamblers for a long time & know how to work the system.
 
Quote from eco:

The key is to be a professional gambler with an edge, discipline and money management. :cool:
More...

The key to be a good trader is the same:) Life is a gamble!
 
Good gambler - takes risks when the odds are in his favor.

Bad gambler - takes risks when the odds are NOT in his favor.
 
Gambling became less attractive after I saw how much more money moves in the markets. It makes even the largest casinos look like chump change.

Why bother spending hours upon hours trying to win $500 or $1000 or wutever at a casino... when those same amounts are mere hourly fluctuations in your trading account??
 
I agree: trading is more attractive than gambling. You can make more money in trading & make less wave. No exchange will ban you because you are making big profit & no one will try to rob you in person.
 
You must log in or register to reply here.
Back
Top