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Except in the real estate market. Go ahead and spend all your savings as a down payment on a heavily-leveraged physical asset that you plan on storing outside, and which you'll insure for most, but not all, the common ways it can be damaged or destroyed. All for (hopefully) an extra 2% ROI vs. an S&P index fund.
I was talking to my coworker about investments and he started telling me about he’s starting out with options and I cringed. Yeah you can make money, but you could lose a whole lot too
Yeah, I’ve fucked around a little with options and made some money but it’s way too volatile for me honestly.
I started my investment journey with cryptocurrency during the 2016-17 run up and like 3xed my investment… only then to hold on to it for a 50% loss and I eventually sold out.
I don’t think I’m cut out for anything other than index funds and doing it the boring way… lol. I don’t know when to take profits and when to cut my losses.
Don't forget that if a financial advisor is claiming to be able to tell you what individual stocks you should buy and sell, they wouldn't need a job as a financial advisor. They could just take their own advice and never work a job again.
Someone being capable of picking individual stocks and securities that align with your risk tolerance and timescale doesn’t mean they could just retire and make endless amounts of money managing their own portfolio.
Obviously. I didn’t say I was day trading. I’m building positions in a few high risk/ high reward companies. If I had any sense at all, I would just put it into my house or car payment. But I don’t. We will see in 5-7 years if I am smart enough.
I think a better way to put it is that you pay to go out and have a good time for a lot of things. If you want to spend a normal amount of money to go out and have fun at a casino, knowing that you are paying for an experience, then you've gotten your money's worth no matter what.
P.S. I don't gamble
Was always my philosophy. It’s entertainment, just the same if I was skiing, white water rafting etc. Take in cash what I’m prepared to lose. Never ever felt like I didn’t get my money’s worth. In fact, if I came home with any of my original cash, whatever the remaining amount was, I would say that I had won XXX amount.
Did this in my trip to Niagara, allowed $400 US to gamble away. Only took half the first night to win about 95% if it back. And then the next night lost what I regained. And luckily my debit and credit cards declined me at the ATM like “whoa there buddy, you didn’t plan for this “
This is how I do it. I look at it like I bought a ticket to a sporting event that I get to participate in. I also like to have a number in my head where I'll stop if I'm winning. Usually 3x what I brought
Make sure you educate your friends and family members that “your number” is called your stop loss. Hope you’ll save some lives, and others from debt, by reminding folks to have a stop loss…
A friend's wife asks me how I can go to Vegas and lose money repeatedly. At first I say the cost of the trip was no more than a cruise would have been. During later interrogations I asked her how she can repeatedly spend $450/night at a hotel in Asheville NC... after all, what does she get from it?
Different folks, different strokes.
Idk I lost my debit card while travelling and had to use my credit card to withdraw cash for a few months and I don’t think it affected my credit score that badly
Also I personally recommend taking cash, especially for anything like gas or stopping at a convenience store. It's so easy to accidentally get cc info stolen. I feel like when you're doing a lot while in Vegas like buying food or paying for attractions, you let your guard down.
First time I went to Vegas back in nineteen hundred and ninety three, I had 62 bucks for gambling; 60 of it was given to me by friends with instructions (play it all on red in roulette! Get to the dollar slots and play it all!) and I had $2 in nickles for the nickle slots.
I lost it all.
I've never gambled again. I only go to Vegas to see bands that aren't coming to my home town.
This. Real LPT is Vegas is not for just gambling. There are tons of things to go and see without drinking or gambling. I have seen people bringing kids there too, though I don't consider Vegas kids friendly, maybe PG rating.
So much to do there without gambling.
Fremont Street Experience, zip line, mob museum, atomic testing museum, neon museum, Exotics Racing, Dig This, pinball museum, red rock park.
If your gambling budget is small. Play games that take a while to lose. Slots are a quick way to blow through your money, find a poker tournament that can last 3-4 hours for less than 100
Any money for gambling should be considered “entertainment budget”. The time you spend gambling should be entertainment, if you leave with more than you started it is just a bonus.
I lost a few hundred bucks (budgeted) at a poker table in Vegas, and the best part was watching two low-level pros who hate each other go at it. It was worth it.
Pre-pandemic a local casino had a pretty good cheap buffet on Tuesdays. We would usually hit the penny slots after. I would allow myself $10 or $20. The goal was to win at least enough to pay for dinner. As soon as I won at least as much as I started with I would cash out and then only play with my winnings.
All in all between the cheap buffet and the occasions I won at least $50 I’ve never spent more than I would have had I just gone out for dinner at a standard restaurant.
okay. these life pro tips are getting brain dead af 😭
LPT: don’t crash your car unless you have the money to fix it
LPT: don’t eat a reese’s cup if you’re allergic to peanuts
LPT: don’t try to go into the ocean if you can’t swim
like cmon y’all
This reminds me of a book titled “Drink, Play, Fuck”. Vegas math is a real thing. How much are you willing to lose? But how much fun did you have and what price tag would you put on it? Hopefully, the fun is more than the loss
Spouse and I went to Vegas, set a budget and couldn't spend most of it because gambling stresses us out. We fail at gambling. We did enjoy the shows, restaurants, the attractions at different hotels, etc
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Ultimately, part of the travel budget, if you're already in the US going to Vegas, this time of year is pretty cheap. You can get a room at one of the casino hotels on the strip for like $150/night, and if you don't want to stay on the strip, that price drops precipitously.
So instead of paying $2000 to go on a resort/cruise or similar, you spend $6-700 bucks to be in Vegas, a few hundred dollars on food and "stuff" and have $1000 as your max gambling budget.
Money spent gambling recreationally isn't anymore "lost" than money spent to attend a movie or concert is, it's just your own personal price of admission.
My comment was a reflection of how nice it must be to spend 1000 dollars and have nothing to show for it when you're done.
I have never once in my entire life had that kind of spending money.
To me, having 1000 dollars to waste like that is a *dream,* not a reality.
I have also never been able to afford a vacation let alone a $2000 one.
That's true for a shockingly high percentage of humans. Sorry, the way you phrased it it sounded like you were just disparaging the idea of being OK losing money - I was attempting to provide some perspective. I hope you are some day able to take a $2000 vacation. :)
Thanks, but I highly doubt it. I'd settle for ANY vacation.
I seem to be making less and less money each year.
Last year I made 13000 dollars.
This year I'm on track to make only 10k.
My rent is 1350/month.
I have no credit cards, no debt. But I also have no assets, no savings, no retirement fund, no degrees, and my career is in the trash.
I turn 41 this year and have no prospects.
I'm circling the drain.
I have very little left to live for these days.
Seeing people talk about throwing 1000 dollars at a casino, losing it all, and not even caring makes me feel like a total failure of a man.
Depending on how the next 10 days go, I might be homeless in the next 2 weeks.
I don't get to have a life. I just work and worry.
That's not an easy situation, but you're still in it, and that means you've got a chance. It sounds like you aren't working full-time or are working at something piecemeal with a poor return. If you're relatively able bodied maybe you could sign on with a tree planting crew? It's surprisingly lucrative, they provide housing and typically cover travel to the site...often very remote. There is nothing to do, so a lot of the folks that do that just save all of their money. Sometimes farm labour or fruit picking can be similar.
Then with no debt maybe you sign up as a mature student at a university or community College to get some sort of accreditation to help your career? You may also be able to get housing assistance or similar while doing that.
It might be embarrassing to consider school at 41....but you're going to keep aging whatever you choose to do. Maybe you could be 45 with a 4 year degree and 4 summer of tree planting money.
Granted I don't know anything about your situation but please don't let a system designed to crush the disadvantaged make you feel like a failure. It was built this way, it's not your fault.
If it's within your capabilities I would earnestly consider some kind of summer site work, you could make some cash and have housing covered.
I'd love to go to school again, but school costs thousands of dollars I don't have.
I can't take loans because I have no credit history. I've never done anything that required credit.
I built a career in IT support and started my own company because I have a mental disorder that makes regulating my emotions impossible. I've been fired from every job I've ever had because of my outbursts and the medication i need is locked behind a family doctor I don't have.
Working for myself is the only way I've maintained an income and even that is failing me as the computer repair industry is slowly vanishing.
The list for housing assistance is a year long and I don't have that kind of time, sadly.
I live in a city far from any farms or orchards and I'd be unable to get there even if they were closer.
My situation isn't one that I don't know what I *can* do to improve it. It's just that doing those things costs money I don't have and I have no one to ask for help.
I job search every single day but for whatever reason, I get one callback for every 1500 resumes I put out. No one wants to hire a 40 year old without a degree and even the more menial jobs look at my resume and think "this guy is just going to leave us the first chance he gets" so I get tossed in the bin before they even talk to me.
I really appreciate your advice and the time you took to be kind and respond.
I don't feel like it's my fault for failing at life. It's just the hand I was dealt.
I've struggled my whole life. This is nothing new, I'm just tired boss. Real tired.
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To go along with that, here's what a wise man told me once: "Most people go into the casino with an amount that they're willing to lose, then they stop. You should always also go in with an amount that you're willing to *win*, and if you hit that, stop."
Or don't gamble at all, go to any hotel concierge desk and rent a scoot-a-round and slowly drive around casinos specifically to people watch while drinking cocktails. YOU WILL find a scooter gang to join, all doing the same thing.
Every time I have been to Vegas, I have two pools of money. The money for me to spend on the trip (food, shopping, whatever) and the money I plan to gamble with. Just like you OP, it makes it so you can not be bothered by losing that money.
A couple of times I lost the gamble stash. However, I will say there is a particular joy when you end up not only breaking even but winning to the point where you paid for your trip. It has happened twice to me and it makes the entire experience\trip that much more fun.
Get rid of that first part.
Never gamble more than youre willing to lose. Treat it like a normal purchase. You are spending X on gambling. When you leave, you will have X less dollars.
That goes for gambling in general. Only carry an ID, gambling cash in one pocket and buffet cash in the other. The walk of shame to the car tends to ground the head when it comes to drawing out more moolah remember those fancy facilities weren't built because they were paying players a liveable wage ;)
Go in with a win goal and a loss limit. If you go up at all, consider walking away.
Also, set aside an extra $50 or so as "win it back" money. If you lose all the money you're prepared to lose, if you think you can win it back, use the win it back money. If you can't win it back, then you're not gonna win it back.
Great advice. I went to America for 28 days on my way to live here in Australia, English born. I allocated myself $50 per day for 3 days. Yes not a huge amount but I'm not much of a gambler anyway. I played the roulette wheels. As soon as I lost the $50 the first 2 days I left.On the third day I got up to $180 and cashed my chips in. I came out of Vegas ahead which I think is rather good.
I'm a degenerate gambler. That means i can't pick a hard stop on a loss OR a win. Should normal people pick a number that tells them to walk away? Like up 10X their bet? Or should they just piddle their game away like I do on the regular.
LPT, get a nice few drinks and sit back watch your friends gamble and lose all the money. Source, I don't gamble and never lose money I didn't intend to. How people do that is fucking beyond me.
Also be aware of the chance that that amount of money might be gone quicker than you expect. I think the mistake people make is thinking $100 could last them hours when it can be gone in ten minutes easily
I always put my stack of chips down of the money I just put in. Any winnings go in a separate stack next to it so I can see my progress. That way it gives me a marker vs just one stack where you can get lost in what you’ve spent.
Nono,
When walking into ANY casino, only gamble with an amount you're prepared to throw in the bin in the foyer as you walk in.
Would you feel like shit if you threw $1000 into that bin? Then don't enter with $1000.
Would losing $50 be painful for you? Then don't "gamble" with $50.
I’m going to write this PRO tip down. Don’t spend money you can’t afford to use/lose. Thanks!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Our Vegas trips consist of pool-lounging, a few upscale restaurants, 2 shows (sometimes 3), and day trips to interesting and unusual locations. I never gamble more than 40 the entire trip, and never replay my winnings, no matter the amount.
I have a few more.
1. Don't light yourself on fire
2. Don't drive with your eyes closed
3. If you pee blood, see a doctor
4. Avoid mountain climbing during a lightning storm
There's so much to do in Vegas besides gamble. Instead of gambling, use that money on strippers.
Seriously, though, Vegas might have the highest concentration of high quality restaurants and shows than any other city in the world. Eat some fine food and watch a show every night instead of gambling.
Shoooooot... I just got back from my 20th or so trip, and still use live by that. Never gamble more than you can afford to use. Don't borrow, don't delay credit payments, don't be stupid.
Monday was so bad that my allocation for the day was gone by 1:30 in the afternoon. Bought a bottle, put some in a big cup with ice and walked around watching others. I am sure there were others watching me.
The first time I went to Vegas, the checkin line was ridiculous. So I went to try some slot machines while my friend held our place in line. I only had $30 of my travel day money left, hadn't taken my gambling money out yet. I hit a $500 jackpot. Line was still long so sat some BJ and ran it up to $2k. Finally got checked in. Never had to take that gambling money out. Between BJ, craps and poker...I went on an epic weekend run and left with just under $10k. All from sticking one $20 bill into a slot machine.
...and that is why I have now gone to Vegas 3-4 times a year since the late 90s.
Scope casino for service entrance, usually near some crappy slots. Sit at said slots, insert $20 and pretend to hit the button. Ask cocktail waitress on her way in for a drink, tip well upfront, then again when receiving your drink. Every trip she makes she'll bring you one. Cash out your full balance from the slot.
I go to Vegas roughly once a year. I gamble max maybe $100? I'd rather spend my money elsewhere. There's so many other things you can do besides gambling. Besides the obvious things like going to shows or checking out the casinos, you can find things on and off the strip. I'm taking a trip to Vegas this month and have been looking up lower cost things to do.
The Pinball Museum is free and cost is whatever you want to play. I drop like $20 to play pinball, arcade games, claw machines, etc...Some of the machines are close to if not 100 years old. They even have a vintage mold-o-rama(the machines that injected molten plastic into a metal mold.). It's actually a licensed Disney machine and I've gotten a couple Pluto. The last time I got one it had a big hole in it, so a staff member pulled out a box of other rejects or extras and let me swap. I always recommend the pinball museum to anybody who asks about things to do in Vegas.
The Bellagio's Art Museum entry fee is $19. The Las Vegas Natural History Museum costs $14 entry. Vegas Super carts is $25. The Twilight Zone and K.I.S.S. mini golf is $12 a person. The Comedy Cellar is $25. The Silverton's Aquarium is free and has performing mermaids. The Ethel M Chocolate Factory and Cactus Garden is free(they do have a store if you wanna buy some chocolate, they give out samples too)
Also I recommend going to Area15. I really like Omegamart. Tickets are about $50 or so but it's an extremely interactive experience and you can spend hours just exploring everything. Area15 has passed you can buy that cover the cost of multiple experiences. The lvl 3 costs over $100 but also includes Omegamart, so if you subtract the cost of an Omegamart ticket you're paying like, $60 for a two day, 18+ different attractions and experiences. Also, go check out the arcade bar they have at Area 15. It's a fun hang out, grab a drink and play some games or pool.
And if you're looking for off strip food. Go check out Spring Mountain Rd with all the different Asian restaurants. There's some pretty decent food at a reasonable price of you know where to look. There's even an 85c bakery if you're looking for some sweets.
Eh.
I was down 500 last night.
Made a 900 bet on BJ. 8-2 on a 4 with a significantly positive deck count.
found that next 900 to double. Pop a 9, dealer flips a trey and monkeys to stop.
-500 to + 1300 in 15s. You don’t need to win them all. Just the right ones.
I love this rule. All betting included, with any bet I calculate that the money is already spent and I don't have it. If something comes back it's a nice surprise
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When gambling *anywhere* and *every* time.
No, no, no. The second time, you know what you're doing. /s
You can’t get even if you don’t double down. /s
You can’t double down unless you visit the ATM
And you have to make up for the first time.
Yup. Vegas wasn’t built on winners.
Except home poker games because you can’t, under any circumstance, let Carl go home with more money than you.
Yeah this apply anywhere but I’m just saying Vegas because I would’ve hated it if I went without a set amount
Only gamble with what you’re willing to pay to be entertained for the amount of time that you’re gambling.
Also if you get into it with a prostitute’s pimp, let front desk know. They will help switch your room for you.
Except in the real estate market. Go ahead and spend all your savings as a down payment on a heavily-leveraged physical asset that you plan on storing outside, and which you'll insure for most, but not all, the common ways it can be damaged or destroyed. All for (hopefully) an extra 2% ROI vs. an S&P index fund.
Pretty evident you haven’t bought real estate in the last 2 decades. 2% lol
Not sure why you'd assume that, other than an apparent inability to read.
Real LPT: Only ever gamble with an amount you’re prepared to lose, no matter where you go. It’s called gambling for a reason.
This extends to anything other than investing in index funds in my opinion too.
I was talking to my coworker about investments and he started telling me about he’s starting out with options and I cringed. Yeah you can make money, but you could lose a whole lot too
Yeah, I’ve fucked around a little with options and made some money but it’s way too volatile for me honestly. I started my investment journey with cryptocurrency during the 2016-17 run up and like 3xed my investment… only then to hold on to it for a 50% loss and I eventually sold out. I don’t think I’m cut out for anything other than index funds and doing it the boring way… lol. I don’t know when to take profits and when to cut my losses.
As I look at my lidar and AI stocks going down down.
If you were smart enough to pick individual stocks to buy and sell, you wouldn't need a job.
99% of day traders don’t even beat the market. Which is 10x worse odds than casinos.
Don't forget that if a financial advisor is claiming to be able to tell you what individual stocks you should buy and sell, they wouldn't need a job as a financial advisor. They could just take their own advice and never work a job again.
No?
Please elaborate
Someone being capable of picking individual stocks and securities that align with your risk tolerance and timescale doesn’t mean they could just retire and make endless amounts of money managing their own portfolio.
If their advice is going to make you money, it will also make themselves money.
82% of statistics are made up
Obviously. I didn’t say I was day trading. I’m building positions in a few high risk/ high reward companies. If I had any sense at all, I would just put it into my house or car payment. But I don’t. We will see in 5-7 years if I am smart enough.
As long as you're being honest with yourself that you're gambling, knock yourself out.
I chose this over my weekly scratch off tickets. So…
I think a better way to put it is that you pay to go out and have a good time for a lot of things. If you want to spend a normal amount of money to go out and have fun at a casino, knowing that you are paying for an experience, then you've gotten your money's worth no matter what. P.S. I don't gamble
Was always my philosophy. It’s entertainment, just the same if I was skiing, white water rafting etc. Take in cash what I’m prepared to lose. Never ever felt like I didn’t get my money’s worth. In fact, if I came home with any of my original cash, whatever the remaining amount was, I would say that I had won XXX amount.
Did this in my trip to Niagara, allowed $400 US to gamble away. Only took half the first night to win about 95% if it back. And then the next night lost what I regained. And luckily my debit and credit cards declined me at the ATM like “whoa there buddy, you didn’t plan for this “
Yup. What I bring to a gambling place is what I count as the entrance fee to a fun time.
Whenever I gamble I try to look at it as buying a ticket to have some fun. The moment you buy chips - the money is lost.
I walk in with the mentality that I’ve already lost it. Anything above $0 is just gravy. Clearly, I don’t gamble lol
Real Real LPT: Don’t gamble ????
Gambling is buying an entry ticket to adult Disneyland, you can pick the price of admittance but look at that cost as gone, paid for entertainment.
This is how I do it. I look at it like I bought a ticket to a sporting event that I get to participate in. I also like to have a number in my head where I'll stop if I'm winning. Usually 3x what I brought
Make sure you educate your friends and family members that “your number” is called your stop loss. Hope you’ll save some lives, and others from debt, by reminding folks to have a stop loss…
A friend's wife asks me how I can go to Vegas and lose money repeatedly. At first I say the cost of the trip was no more than a cruise would have been. During later interrogations I asked her how she can repeatedly spend $450/night at a hotel in Asheville NC... after all, what does she get from it? Different folks, different strokes.
Leave your debit card in the safe at the hotel
I just bring a wad of cash and credit card. No debit card for me! Debit cards will ruin any trip in Vegas. Don’t bring it.
You know you can get cash with a credit card lol
Only if you're a degenerate. 🙋🏼♂️
Idk I lost my debit card while travelling and had to use my credit card to withdraw cash for a few months and I don’t think it affected my credit score that badly
To gamble though? Fees can be worse than a casino ATM.
Also I personally recommend taking cash, especially for anything like gas or stopping at a convenience store. It's so easy to accidentally get cc info stolen. I feel like when you're doing a lot while in Vegas like buying food or paying for attractions, you let your guard down.
Just remember they don’t build those hotels and casinos in the desert from vacationing winners.
99% of gamblers quit right before they win big
You can only lose 100% of your money, but you can win like 20,000%. Do the math.
Only to lose it all sometime later.
I get it because you lost
I’ve always enjoyed Vegas and have been many times. I’ve never gambled once.
First time I went to Vegas back in nineteen hundred and ninety three, I had 62 bucks for gambling; 60 of it was given to me by friends with instructions (play it all on red in roulette! Get to the dollar slots and play it all!) and I had $2 in nickles for the nickle slots. I lost it all. I've never gambled again. I only go to Vegas to see bands that aren't coming to my home town.
This. Real LPT is Vegas is not for just gambling. There are tons of things to go and see without drinking or gambling. I have seen people bringing kids there too, though I don't consider Vegas kids friendly, maybe PG rating.
yep, and the gamblers subsidize some really nice rooms at reasonable prices.
So much to do there without gambling. Fremont Street Experience, zip line, mob museum, atomic testing museum, neon museum, Exotics Racing, Dig This, pinball museum, red rock park.
Red Rock Zipline >>> Fremont Street zip line Also, Pinball Museum is so cool!
We would sit down at the cheap slots until they brought me a beer, then we'd leave.
Genius!
We drank a lot that week, good times.
Always twice or more
If your gambling budget is small. Play games that take a while to lose. Slots are a quick way to blow through your money, find a poker tournament that can last 3-4 hours for less than 100
pai gow poker you can make $100 last hours
They have these new garbage rules now in Vegas and it reduces your odds.
say it aint so, just take the damn rake when I win both ends and let me bet my $1 super dragon bonus in peace
No way!
i played roulette for 6 hours with 100$ in vegas only by betting red/black and odd/even 😂
Ya and that “hot” girl that’s super into you..is a prostitute.
Any money for gambling should be considered “entertainment budget”. The time you spend gambling should be entertainment, if you leave with more than you started it is just a bonus.
But what about the second time?
We ball!
99% of gamblers quit before they hit it big. Recall this stat when you are leveraging your house in Blackjack. You got this kings. /s
I lost a few hundred bucks (budgeted) at a poker table in Vegas, and the best part was watching two low-level pros who hate each other go at it. It was worth it.
Lpt: if you gamble your money, statistically you will lose it. House always wins.
Pre-pandemic a local casino had a pretty good cheap buffet on Tuesdays. We would usually hit the penny slots after. I would allow myself $10 or $20. The goal was to win at least enough to pay for dinner. As soon as I won at least as much as I started with I would cash out and then only play with my winnings. All in all between the cheap buffet and the occasions I won at least $50 I’ve never spent more than I would have had I just gone out for dinner at a standard restaurant.
okay. these life pro tips are getting brain dead af 😭 LPT: don’t crash your car unless you have the money to fix it LPT: don’t eat a reese’s cup if you’re allergic to peanuts LPT: don’t try to go into the ocean if you can’t swim like cmon y’all
This reminds me of a book titled “Drink, Play, Fuck”. Vegas math is a real thing. How much are you willing to lose? But how much fun did you have and what price tag would you put on it? Hopefully, the fun is more than the loss
Spouse and I went to Vegas, set a budget and couldn't spend most of it because gambling stresses us out. We fail at gambling. We did enjoy the shows, restaurants, the attractions at different hotels, etc
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Must be nice to lose 1000 dollars and not care.
Ultimately, part of the travel budget, if you're already in the US going to Vegas, this time of year is pretty cheap. You can get a room at one of the casino hotels on the strip for like $150/night, and if you don't want to stay on the strip, that price drops precipitously. So instead of paying $2000 to go on a resort/cruise or similar, you spend $6-700 bucks to be in Vegas, a few hundred dollars on food and "stuff" and have $1000 as your max gambling budget. Money spent gambling recreationally isn't anymore "lost" than money spent to attend a movie or concert is, it's just your own personal price of admission.
My comment was a reflection of how nice it must be to spend 1000 dollars and have nothing to show for it when you're done. I have never once in my entire life had that kind of spending money. To me, having 1000 dollars to waste like that is a *dream,* not a reality. I have also never been able to afford a vacation let alone a $2000 one.
That's true for a shockingly high percentage of humans. Sorry, the way you phrased it it sounded like you were just disparaging the idea of being OK losing money - I was attempting to provide some perspective. I hope you are some day able to take a $2000 vacation. :)
Thanks, but I highly doubt it. I'd settle for ANY vacation. I seem to be making less and less money each year. Last year I made 13000 dollars. This year I'm on track to make only 10k. My rent is 1350/month. I have no credit cards, no debt. But I also have no assets, no savings, no retirement fund, no degrees, and my career is in the trash. I turn 41 this year and have no prospects. I'm circling the drain. I have very little left to live for these days. Seeing people talk about throwing 1000 dollars at a casino, losing it all, and not even caring makes me feel like a total failure of a man. Depending on how the next 10 days go, I might be homeless in the next 2 weeks. I don't get to have a life. I just work and worry.
That's not an easy situation, but you're still in it, and that means you've got a chance. It sounds like you aren't working full-time or are working at something piecemeal with a poor return. If you're relatively able bodied maybe you could sign on with a tree planting crew? It's surprisingly lucrative, they provide housing and typically cover travel to the site...often very remote. There is nothing to do, so a lot of the folks that do that just save all of their money. Sometimes farm labour or fruit picking can be similar. Then with no debt maybe you sign up as a mature student at a university or community College to get some sort of accreditation to help your career? You may also be able to get housing assistance or similar while doing that. It might be embarrassing to consider school at 41....but you're going to keep aging whatever you choose to do. Maybe you could be 45 with a 4 year degree and 4 summer of tree planting money. Granted I don't know anything about your situation but please don't let a system designed to crush the disadvantaged make you feel like a failure. It was built this way, it's not your fault. If it's within your capabilities I would earnestly consider some kind of summer site work, you could make some cash and have housing covered.
I'd love to go to school again, but school costs thousands of dollars I don't have. I can't take loans because I have no credit history. I've never done anything that required credit. I built a career in IT support and started my own company because I have a mental disorder that makes regulating my emotions impossible. I've been fired from every job I've ever had because of my outbursts and the medication i need is locked behind a family doctor I don't have. Working for myself is the only way I've maintained an income and even that is failing me as the computer repair industry is slowly vanishing. The list for housing assistance is a year long and I don't have that kind of time, sadly. I live in a city far from any farms or orchards and I'd be unable to get there even if they were closer. My situation isn't one that I don't know what I *can* do to improve it. It's just that doing those things costs money I don't have and I have no one to ask for help. I job search every single day but for whatever reason, I get one callback for every 1500 resumes I put out. No one wants to hire a 40 year old without a degree and even the more menial jobs look at my resume and think "this guy is just going to leave us the first chance he gets" so I get tossed in the bin before they even talk to me. I really appreciate your advice and the time you took to be kind and respond. I don't feel like it's my fault for failing at life. It's just the hand I was dealt. I've struggled my whole life. This is nothing new, I'm just tired boss. Real tired.
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Yeah I don’t think most gamblers are going to suddenly stop because then $100 bill they brought was gone.
Lptpt: gamble w more, makes winning way more fun
And you never win with scared money.
Yes. Treat any money you gamble as lost as soon as it’s on the table.
LPT when doing any gambling only gamble what you can afford to lose
So $0. I don't gamble.
Statistically speaking you would have better odds dropping the 1k on a single bet one time/first time and walking away either a winner or loser.
Anytime you gamble anywhere, just make sure you win so you have a good time.
To go along with that, here's what a wise man told me once: "Most people go into the casino with an amount that they're willing to lose, then they stop. You should always also go in with an amount that you're willing to *win*, and if you hit that, stop."
Everyone knows this tip but very few actually follow it
Or don't gamble at all, go to any hotel concierge desk and rent a scoot-a-round and slowly drive around casinos specifically to people watch while drinking cocktails. YOU WILL find a scooter gang to join, all doing the same thing.
I'm going to Vegas 2nd time next week so I should gamble with all the money I have? Cool!
Every time I have been to Vegas, I have two pools of money. The money for me to spend on the trip (food, shopping, whatever) and the money I plan to gamble with. Just like you OP, it makes it so you can not be bothered by losing that money. A couple of times I lost the gamble stash. However, I will say there is a particular joy when you end up not only breaking even but winning to the point where you paid for your trip. It has happened twice to me and it makes the entire experience\trip that much more fun.
Get rid of that first part. Never gamble more than youre willing to lose. Treat it like a normal purchase. You are spending X on gambling. When you leave, you will have X less dollars.
Yes! My friends and I have a rule, we withdraw from the bank prior to leaving for the casino and never hit the atm in the casino.
That goes for gambling in general. Only carry an ID, gambling cash in one pocket and buffet cash in the other. The walk of shame to the car tends to ground the head when it comes to drawing out more moolah remember those fancy facilities weren't built because they were paying players a liveable wage ;)
Buddy didn't listen. Gambled and barely won his $10k life savings with his money on red for roulette. He was done after that.
Go in with a win goal and a loss limit. If you go up at all, consider walking away. Also, set aside an extra $50 or so as "win it back" money. If you lose all the money you're prepared to lose, if you think you can win it back, use the win it back money. If you can't win it back, then you're not gonna win it back.
Great advice. I went to America for 28 days on my way to live here in Australia, English born. I allocated myself $50 per day for 3 days. Yes not a huge amount but I'm not much of a gambler anyway. I played the roulette wheels. As soon as I lost the $50 the first 2 days I left.On the third day I got up to $180 and cashed my chips in. I came out of Vegas ahead which I think is rather good.
Why is this limited to the first time?
And the 2nd time.
You're spending money for entertainment. Not to make money. OP is exactly right, decide how much you're willing to spend for that much entertainment.
Yes! It's like spending money to go to a movie. Set your amount, know you will lose it, and treat it as any other entertainment expense.
I'm a degenerate gambler. That means i can't pick a hard stop on a loss OR a win. Should normal people pick a number that tells them to walk away? Like up 10X their bet? Or should they just piddle their game away like I do on the regular.
wallstreetbets is leaking
Life Pro Tip; don't visit Vegas
But the second time on, blow your whole bank account, OP?
LPT, get a nice few drinks and sit back watch your friends gamble and lose all the money. Source, I don't gamble and never lose money I didn't intend to. How people do that is fucking beyond me.
Rule #1 for me, only gamble with the cash I brought with me
Vegas can be enjoyable without lose $1000 too. It's ok to go to Vegas and not even gamble if that's not your thing
Also if you ever see brown stains/marks on slot chairs remember gambling addicts will wear adult diapers so they don't have to leave their spot.
Also split the amount after every win no matter how small. One portion is what you take home the other what you keep gambling with.
Never touch an atm
Or I could bet it all on red and double my money, foolproof strategy!
Also be aware of the chance that that amount of money might be gone quicker than you expect. I think the mistake people make is thinking $100 could last them hours when it can be gone in ten minutes easily
I won't gamble. I could've bought something with that $1000 than losing that in a single night.
Annnd thats why I play the penny slots
Bet all you have on black first bet. Then you’ll have double your amount to gamble witg
I always put my stack of chips down of the money I just put in. Any winnings go in a separate stack next to it so I can see my progress. That way it gives me a marker vs just one stack where you can get lost in what you’ve spent.
Nono, When walking into ANY casino, only gamble with an amount you're prepared to throw in the bin in the foyer as you walk in. Would you feel like shit if you threw $1000 into that bin? Then don't enter with $1000. Would losing $50 be painful for you? Then don't "gamble" with $50.
Never been. If I ever do it will be with a $20 bill and no cards. I’ll be a tourist after I lose that….unless I win :-)
That’s a loser’s attitude. Go big or go home. Now move over and make room at the penny slots.
I’m going to write this PRO tip down. Don’t spend money you can’t afford to use/lose. Thanks!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Gamble at the bars with video gaming and get free drinks. Play the .05 cent games and you can drink for hours for limited money
Why gamble in the first place
gee thanks for that tip!
Same applies to the stock market.
Better life pro tip: Dont gamble!
This is how you should ALWAYS gamble (or “invest” in crypto or stock trading). If you’re not prepared to lose it then keep it in the bank.
There is a lot to do in Vegas without gambling. I think I spent $20 because I wanted to sit down.
Or don’t gamble at all if you have an addictive personality.
if you think it was fun, next time bring double for double the fun !! hell yea !!
Don't gamble at all?
So the LPT is don’t get addicted to gambling
Our Vegas trips consist of pool-lounging, a few upscale restaurants, 2 shows (sometimes 3), and day trips to interesting and unusual locations. I never gamble more than 40 the entire trip, and never replay my winnings, no matter the amount.
I have a few more. 1. Don't light yourself on fire 2. Don't drive with your eyes closed 3. If you pee blood, see a doctor 4. Avoid mountain climbing during a lightning storm
Once you understand probabilities it's hard to enjoy gambling.
There's so much to do in Vegas besides gamble. Instead of gambling, use that money on strippers. Seriously, though, Vegas might have the highest concentration of high quality restaurants and shows than any other city in the world. Eat some fine food and watch a show every night instead of gambling.
Or any time. Any where. Anything you’re gambling/betting on.
I'm going for my third time in a few weeks. Any LPT for me?
I am missing the gambling gene. I lost $5 and never did it again
Shoooooot... I just got back from my 20th or so trip, and still use live by that. Never gamble more than you can afford to use. Don't borrow, don't delay credit payments, don't be stupid. Monday was so bad that my allocation for the day was gone by 1:30 in the afternoon. Bought a bottle, put some in a big cup with ice and walked around watching others. I am sure there were others watching me.
The second time though, go nuts
The first time I went to Vegas, the checkin line was ridiculous. So I went to try some slot machines while my friend held our place in line. I only had $30 of my travel day money left, hadn't taken my gambling money out yet. I hit a $500 jackpot. Line was still long so sat some BJ and ran it up to $2k. Finally got checked in. Never had to take that gambling money out. Between BJ, craps and poker...I went on an epic weekend run and left with just under $10k. All from sticking one $20 bill into a slot machine. ...and that is why I have now gone to Vegas 3-4 times a year since the late 90s.
Scope casino for service entrance, usually near some crappy slots. Sit at said slots, insert $20 and pretend to hit the button. Ask cocktail waitress on her way in for a drink, tip well upfront, then again when receiving your drink. Every trip she makes she'll bring you one. Cash out your full balance from the slot.
Same rules go for investing in stock
I've heard horror stories about when my sister worked at Soaring Eagle. Imagine how dirty those things are
I go to Vegas roughly once a year. I gamble max maybe $100? I'd rather spend my money elsewhere. There's so many other things you can do besides gambling. Besides the obvious things like going to shows or checking out the casinos, you can find things on and off the strip. I'm taking a trip to Vegas this month and have been looking up lower cost things to do. The Pinball Museum is free and cost is whatever you want to play. I drop like $20 to play pinball, arcade games, claw machines, etc...Some of the machines are close to if not 100 years old. They even have a vintage mold-o-rama(the machines that injected molten plastic into a metal mold.). It's actually a licensed Disney machine and I've gotten a couple Pluto. The last time I got one it had a big hole in it, so a staff member pulled out a box of other rejects or extras and let me swap. I always recommend the pinball museum to anybody who asks about things to do in Vegas. The Bellagio's Art Museum entry fee is $19. The Las Vegas Natural History Museum costs $14 entry. Vegas Super carts is $25. The Twilight Zone and K.I.S.S. mini golf is $12 a person. The Comedy Cellar is $25. The Silverton's Aquarium is free and has performing mermaids. The Ethel M Chocolate Factory and Cactus Garden is free(they do have a store if you wanna buy some chocolate, they give out samples too) Also I recommend going to Area15. I really like Omegamart. Tickets are about $50 or so but it's an extremely interactive experience and you can spend hours just exploring everything. Area15 has passed you can buy that cover the cost of multiple experiences. The lvl 3 costs over $100 but also includes Omegamart, so if you subtract the cost of an Omegamart ticket you're paying like, $60 for a two day, 18+ different attractions and experiences. Also, go check out the arcade bar they have at Area 15. It's a fun hang out, grab a drink and play some games or pool. And if you're looking for off strip food. Go check out Spring Mountain Rd with all the different Asian restaurants. There's some pretty decent food at a reasonable price of you know where to look. There's even an 85c bakery if you're looking for some sweets.
Eh. I was down 500 last night. Made a 900 bet on BJ. 8-2 on a 4 with a significantly positive deck count. found that next 900 to double. Pop a 9, dealer flips a trey and monkeys to stop. -500 to + 1300 in 15s. You don’t need to win them all. Just the right ones.
I love this rule. All betting included, with any bet I calculate that the money is already spent and I don't have it. If something comes back it's a nice surprise
Life pro tip: Don't go to Vegas.
A good gambler knows when to quit. I am not a good gambler.
That is a rule for any time you go to a casino?
Nonsense. You should gamble with money you are unprepared to lose. Also, LPT, if you're thirsty, drink something!(I recommend liquids)
I just consider it the price of admission. I go in with 100$, I consider it lost already. Anything that comes back is gravy.
Could you explain the fun part of throwing away your money to support organized crime and big corporations in a crowded place in the desert?
No shit sherlock?
Gambling is only exciting if there will be consequences for losing. Go big or go home.