Pros and Cons Gambling

GoldCrown said:
Cons of Gambling... losing money needed for something important or a necessity. Giving back whatever was won. Expecting a jackpot that is not there. The crappy feeling after losing.

Pro's....You just won some money. Big deal. Did it change our life?
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All depends on 'How much $ you had when you started' and how much you won, and think is a lot!

Though out my career I’ve played for $2.00 a game up to $90,000.00 a game and I’m here to tell you there’s no difference.

"It all depends on your lifestyle and circumstances. If you’re broke, the $2.00 game looks like a million. If you’re flush, the $90,000.00 feels like a deuce. It’s all relative."
 
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mr3cushion said:
All depends on 'How much $ you had when you started' and how much you won, and think is a lot!

Though out my career I’ve played for $2.00 a game up to $90,000.00 a game and I’m here to tell you there’s no difference.

"It all depends on your lifestyle and circumstances. If you’re broke, the $2.00 game looks like a million. If you’re flush, the $90,000.00 feels like a deuce. It’s all relative."
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I’d rather win 90k than lose $2.
 
mr3cushion said:
If a player has $5.00 and wins $2.00, they increased the 'BR by 40%!

A player that has $500,000.00 and wins $90k they increased their BR less than 20%!

You get the idea?
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I have been very fortunate. Was born with a negative gift. I’m the dumbest wager ever born. Horrible gambler. Could not win a fixed race … therefore I refrain. However if I had your game that would be different. I’d play in tournaments… no personal/private matches
 
GoldCrown said:
I have been very fortunate. Was born with a negative gift. I’m the dumbest wager ever born. Horrible gambler. Could not win a fixed race … therefore I refrain. However if I had your game that would be different. I’d play in tournaments… no personal/private matches
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In the 80's-90's there was NO Big $ in tournaments in USA or Europe for that matter!

I Hustled 3C, Pool and cards on the road from 69 -81. Most likely made more $ than All the 3C events combined in USA!

After making the money I invested and started playing in events in late 82.

It then wasn't about the $, it was to show people around the country how the game can be played properly in this country!

I most likely played some of my Best from 82-94 in tournaments. Set several records for an American player for that era!
 
book collector said:
Most "Gambling" at pool is not really gambling , it is "Stealing", or an attempt to steal.
Just because you are unaware, doesn't mean it isn't happening.
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Essentially, two parties demonstrate sufficient funds and proceed to try and steal it. When the distinction mattered to me, I used to say I don't gamble, I bet. BFD. I'd still rather steal.
 
book collector said:
Most "Gambling" at pool is not really gambling , it is "Stealing", or an attempt to steal.
Just because you are unaware, doesn't mean it isn't happening.
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Since about 2010, maybe before, I wholly disagree with this. The gamble in my area is completely known. There are still some pretty good $ gambles, $500 sets, but they are rare. Mostly $10-$50 sets, that may produce some good money. Both parties are fully aware of each parties abilities. Comparing gambling now to the ‘80’s is ridiculous. That was 40 years ago! No one is stealing very much $.


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i know a bunch of people that dont gamble. yet they bet about 2000 to 5000 thousand dollars a year to some company that their house will be damaged. and the company bets them it wont.

and some that bet some company that their car will get stolen or wrecked by their own fault and pay 500 to 1000 dollars a year it will.

and i know lots of pool players that only bet 50 dollars or less a game of pool and are looked at by those above same people as scum or losers.

not to mention some that will even bet money that they will die soon. seems they call it life insurance.
 
maha said:
i know a bunch of people that dont gamble. yet they bet about 2000 to 5000 thousand dollars a year to some company that their house will be damaged. and the company bets them it wont.

and some that bet some company that their car will get stolen or wrecked by their own fault and pay 500 to 1000 dollars a year it will.

and i know lots of pool players that only bet 50 dollars or less a game of pool and are looked at by those above same people as scum or losers.

not to mention some that will even bet money that they will die soon. seems they call it life insurance.
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Insurance a bad bet? Rather have it and not need it than not having it and needing it. People do not need insurance until the shit hits. Is liability insurance a foolish waste? Ever get sued? The people that do not have insurance because they feel it's a bad deal..waste of money...Did they save the money not paying for premiums? Bet not..and they are dead broke. If a person has nothing to lose...zero assets... insurance is a waste. Is medical insurance a bust?
Auto Insurance is law and responsibility.
Myself? I have a lot to lose. I hate paying a high premium because of uninsured drivers, Douche bag personal injury attorney's, and storms that didn't affect me. That's the way it goes. We just bought a generator for our house... I'm betting we lose power once in while... Betting the food will go bad, might have no AC in hot humid Florida during a Summer storm. I'm betting the variables of negative things can happen.

To stay on subject...Pros & Cons of gambling. There's a difference between a friendly wager, responsible betting and being at the pool room or track during working hours instead of being with their families...unless single with no bills. Pros & Cons... Winning good. Losing bad. I could handle a bad day at the track... it would hurt my pride more than my pocket. I prefer to blow my "extra" cash on tools, hobby and billiard stuff.... but once in while with the right game I'll play $2 game 1p or $.25 a way OddBall on a Sat afternoon.
 
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that is exactly on topic of gambling .. all insurance is a gamble with the person getting way the worst of the bet. it is simply a bet.

you can justify whether it is a good bet or not for you, but you have way the worst of the money bet. and if you took that money and invested it over a lifetime it might be way more than enough to retire in style.
 
maha said:
that is exactly on topic of gambling .. all insurance is a gamble with the person getting way the worst of the bet. it is simply a bet.

you can justify whether it is a good bet or not for you, but you have way the worst of the money bet. and if you took that money and invested it over a lifetime it might be way more than enough to retire in style.
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No insurance and the house gets totaled.. the car goes with it (hurricane, whatever) The owner has a mortgage and car payment. I'll bet that hurts.
 
1pocketguru said:
Last night a friend said that gambling on pool in the usa "hurts" the sport.
I understand why this is often claimed, but is it true?
Does gambling "hurt" poker? Or Blackjack? Does gambling "hurt" football?

I love to play One Pocket for $10 or $20 a game. Maybe some golf on the snooker table. These games don't really play "right" without a little wager to keep from shooting silly shots.
I think a gambling on pool has given it a unique culture and history. The name "pool" itself comes from people "pooling" their money together to wager on the games. I've loved hearing the old gambling stories from Ronnie Allen, Luther Lassiter, and Grady Matthews ect.
Hearing something like Chohan is playing someone for $10k or whatever makes me want to see the action.
For me a little gambling makes this a unique and fun sport.
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For the average amateur, matching up against someone you know for money isn't considered gambling; it's handicapping. However, when you match up against a stranger, that's gambling.

Placing a small bet on a game can help you learn how to play under pressure. However, if you wager too much, you risk developing a gambling addiction. This type of addiction can be more severe than drug or alcohol addiction. When you hit rock bottom in gambling, you may find yourself without a family, and without a home, in debt for thousands of dollars, and dealing with loan sharks.
 
maha said:
that is exactly on topic of gambling .. all insurance is a gamble with the person getting way the worst of the bet. it is simply a bet.

you can justify whether it is a good bet or not for you, but you have way the worst of the money bet. and if you took that money and invested it over a lifetime it might be way more than enough to retire in style.
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GoldCrown said:
No insurance and the house gets totaled.. the car goes with it (hurricane, whatever) The owner has a mortgage and car payment. I'll bet that hurts.
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You are both right. With insurance you are betting you are going to have something bad happen before you pay more than the money would make somewhere else. A friend of mine bought brand new wreckers when he purchased one. They had liability on them but no collision. With the price of insurance he would pay the price of a new wrecker every three or four years. With only him and one other man driving he came out ahead running barefoot. It was a good bet, one ton wreckers are tough!

About gambling, with money management pool isn't particularly gambling or wasn't in the old days. After the first six months I knew I would win more than I lost in small time gambling. After two or three years of intense play I knew the odds were I could read any stranger I saw on a table. I read their experience more than their skill. The little tells that let you know someone spent a lot of time around a table. They could be not making a ball but other things would indicate they had spent many hours around a table. The clumsy bridge and stance were a come on.

Another thing, an experienced road player knows that he can beat at least nine out of ten players when he opens the door of a strange pool hall that wasn't a major stop like Greenway or the Sports Palace. It was fun going to strange places and facing the challenges and dangers. Never knew 100% what you would find when you opened a door. However, if I lost a little one place there was another place down the road. While I booked an occasional losing night, I gambled nightly and never booked a losing week after a few years. After five years in the seventies I was on the stall myself almost all the time. Had to keep people thinking they had a chance.

A friend was driving a company truck. He figured one beer and a little pool wouldn't hurt. He stopped at a place near Shreveport and the first surprise is that when he opens the front door there is a hallway with another door at the end of it. This door is locked and when he gets to it an eye slot slides back. The man with a shotgun admitted him and he finds himself in a knocking shop. He doesn't have time or inclination but he sits down and orders a beer. $20 a long time ago! He is broke but carrying a little expense money from the company. He tells them he needs a receipt and they give him one on Red Lobster. He is enjoying the view and gets one more beer, another Red Lobster ticket.

Since he had no money of his own he had to turn in the Red Lobster tickets to balance his expenses. It didn't take long for his boss to call him in the office. "Mike what are these Red Lobster tickets?" Mike explained he got hungry. First he tried to claim he had eaten two seafood platters himself, then that he met a girl and she ate one too. His boss wasn't buying it and Mike paid for the two twenty dollar beers. Not a pool table in sight either!

Hu
 
MitchAlsup said:
It is not a gamble when the state mandates you carry it.
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The state, mortgage company, anybody! It becomes an expense when you don't have an option. When I was in my late teens I had to carry life insurance for the amount of loans. When a friend was over sixty-five with a bad heart they gave him first and second loans on his house putting it well underwater with no insurance. That was when banks were bundling and selling mortgages as fast as they got them and they didn't care. His wife had to go bankrupt right after he died, casino gambling busted him so she had nothing to sell.

Hu
 
the state only mandates liability and only a small amount. most get more. and you get my point.
 
Liability insurance… part of homeowners. Someone gets hurt on your property.. they contact Duey Screwem & Howell.
Oh baby
 
maha said:
that is exactly on topic of gambling .. all insurance is a gamble with the person getting way the worst of the bet. it is simply a bet.

you can justify whether it is a good bet or not for you, but you have way the worst of the money bet. and if you took that money and invested it over a lifetime it might be way more than enough to retire in style.
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Marginal utility I think it’s called right? The reason I sometimes buy a lottery ticket. I know it isn’t a good bet and I don’t buy many. But $3 doesn’t mean much to me. If the jackpot is 500,000,000+, well, that means a lot to me. And my kids and future grandkids maybe.

The money for homeowners insurance or liability insurance means less to me than a total loss. Not as extreme as the lottery. But say I had a billion in cash and it was all I had. Would I bet a guy my billion to his hundred on a 3 billion to one shot? No. Never. The hundred is a valet tip. I wouldn’t bet my lumberyard against his toothpick.

Most bets aren’t this extreme. I want homeowners and good liability insurance. I’ll pass on the extended warranty. Sometimes it’s just personal risk tolerance I guess. But other times I think the possibility of a catastrophic loss outweighs the math as far as lifestyle and real life consequences.
 
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