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Gambling

Discussion in 'Living Room' started by Darlinghurst Boy, 15th Sep, 2015.

  1. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    is there any professional gamblers here ?
    I remember years ago when i was driving a Taxi I used to take Gamblers to the Casino , most of who were of Asian background and many of them went Everyday !!!

    Do any of you bets on Sports using your mobile or online ???
    Are you successful most tmes ???
     
    Last edited: 15th Sep, 2015
  2. jaybean

    jaybean Well-Known Member

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    I bet on not winning, so I don't go. I've been enormously successful so far.
     
  3. radson

    radson Well-Known Member

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    not really an 'Other Asset Class' unless investing in TAH.
     
  4. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    It was my childhood dream to become a professional gambler.
    The dream is not over yet, my bank roll is built now and I'm emotionally ready to ride the roller coaster.
    It's only the last few years I have been a consistent winning gambler, only casually.
    I have not won much, but a winning never the less for the last few years running.
    I've been betting mostly NRL games.

    I'll always be a gambler - For Life !
     
  5. Bayview

    Bayview Well-Known Member

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    All gamblers are successful ; just ask them.

    One maxim always remains; "There are lots of rich folks who gamble, but very few folks who get rich from gambling"
     
    Last edited: 15th Sep, 2015
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  6. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    I put $1000 on the Roosters last weekend won $700 so im becoming hooked LOL
     
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  7. Davothegreat

    Davothegreat Well-Known Member

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    I'm not much of a gambler but I put in $30 once into one of the big online mobs a couple of years ago and started betting tiny amounts on events with silly odds... 5c bets and the like. Early on I had a 25c horse race bet pay out $80. And then slowly lost that back down to the original $30 and withdrew it. All in all it was a couple of weeks of fun at no actual cost. I found it interesting how excited I'd get from winning $2 on something compared to say doing a couple of hours of OT at work for a few hundred $$.
     
  8. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    Roosters lost last weekend.
    They were also short priced favorites to win that game.
    So what bet did you take on the Roosters that paid $1,700 to $1,000 ?
     
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  9. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    I bought my first property late 2000 from a guy who was described to me as a professional gambler. After settlement I visited him at home to pick up some documents relating to the existing tenants, I saw his office. Essentially it was a large desk looking directly at 4 TV screens, all running different gambling related events (horse race, dogs, the other two had various figures scrolling). I imagine he did a reasonably amount of research and had some sort of system.

    It was also one of the best purchases I ever made. He was quite eager to sell the property.
     
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  10. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    Who played Souths?? i put $1000 at 1.70 , was it roosters ?
     
  11. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    Cronulla Sharks beat Souths on Sunday.
    They crushed them.
    You gonna let it ride when they play North QLD this weekend?
     
  12. EN710

    EN710 Well-Known Member

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    Do you think they're pros or do you think they're addicts? I know the later and it wasn't fun for the family who need to bail the person out.
    Interesting for those who have made it their profession though :rolleyes:
     
  13. THX

    THX Well-Known Member

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    I had a mate years ago who what you would call not professional but a problem gambler. Thing is he was bloody successful in both winning and losing. He would easily rack up 10K in winnings in a single night but keep going till he was down that same 10K or more. He was the perfect example of why I don't gamble :D
     
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  14. jaybean

    jaybean Well-Known Member

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    Hum...
     
  15. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    @jaybean what can I say, even with lots of research, it's still gambling.

    I recall the agent told me he was selling because there was an opportunity coming up that he wanted the money for. For all I know, the opportunity might be to avoid taking a walk in the bay wearing cement shoes.
     
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  16. jaybean

    jaybean Well-Known Member

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    lol yeah that's a good way to put it.
     
  17. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    How about day trading/short term trading the stock market, considered gambling?
     
  18. 2FAST4U

    2FAST4U Well-Known Member

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    When I first started working full-time and wasn’t used to having much disposable income I spent a few months gambling on sports- NBL basketball and AFL. My strategy was to pick the favourites of games, which weren’t expected to be blow outs. With Basketball I bet on the NBL since it’s a smaller league and easier to keep track on teams form etc. Most of the games are usually decided by less than 10 points and the margin is 1-9. So if you’re betting head to head for example the favourite might be placed at odds of $1.50. However, if you bet on the favourite to win by 1-9 the odds increase up to $2.40. Of course if they win by more or lose you lose your bet so that’s why you get paid the premium. I stuck to a similar strategy with the AFL where the line bet is usually from 1-39 with similar odds to the NBL.

    Over a few months I ended up winning a modest amount but it wasn’t really worth it considering the time and stress involved. Plus I tended to waste the money I won instead of actually using it for a productive purpose e.g. investing.

    Overall I guess the trouble was (and is typical of gambling) is when you win it tends to be small but when you lose it tends to be big. For me I started off making $200 bets. If I won I’d get $480 of that back. I’d take $240 back and use that for the next bet. So assuming I won 50% of my bets I'd only be making $40 each time. Over time I became more confident and won more money so it increased up to $500 and then $1000 etc. The most I bet was $2000 a game. As with most ventures people tend to invest the majority of the profits to make it higher stakes but when you lose that’s most of your profits gone so you start back from square one. All it takes is a couple of upsets and some bad luck and that’s your money gone even if you’ve been disciplined enough to take a bit of money off the table each time like I did.
     
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  19. spludgey

    spludgey Well-Known Member

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    I've got $104 on the next rate change being down rather than up. Pays $1.40.
     
  20. Biz

    Biz Well-Known Member

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    There was a dude on Somersoft way back that was basically living off online poker. From what I remember he was off to thailand or some place to live the dream. Mentioned we was making about 60k a year doing it.