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First time gambling

October 23rd, 2009 at 09:37 am

After thinking about the matter, I decided that there was no perceivable harm in revealing where I went to visit some friends. We hung out at Atlantic City for a weekend.

I don't personally care for gambling, but I've also never gambled before in my life. So, out of morbid curiosity, I decided to cave in to "peer pressure" and try out the slot machine and Blackjack.

I knew the slot machine is a terrific way to flush your money down the drain, so I played it only for the "fun" of it. However, when I got extremely lucky on one of the plays, I decided to cash it out while I was still ahead.

Then I tried Blackjack. I've read about it before, but the first time that I saw it in action, it really sunk in just how quickly and easily you can make and lose money. Emphasis on the losing part, even though I am aware that your odds are much better here than on slots. So, I stood and watched for quite a while until I decided upon a strategy.

I knew that, over time, the house always wins, and therefore, any strategy over prolonging my stay would be a losing one. So, I decided to play only for a few short hands, but I made up for it by betting more than the minimum. Uh, don't worry. I didn't put in any more money than what I was prepared to lose.

I admit I stayed for a lot longer than I had planned to, and at one point, even risked losing everything. But, when I finally got ahead on a huge bet, I immediately cashed it out and walked away without even a glance back.

All-in-all, I made about $170 off the casino floor. Big Grin My friends were so peeved with me, each of them having lost more than that.

But that's gambling for you. Perhaps they enjoyed the activity, but I personally did not. Within the first few minutes of just looking at Blackjack, I whispered to my friends, "From a money-making perspective, this is crazier than anything I've ever done in stock trading. Unless you're the house, this is definitely no way to make money."

True, you can easily gamble on the stock market as well, but I think there's a floating misconception out there that anything that involves individual stocks must be gambling, and like gambling, you are going to be caught in a fool's errand. That is absolutely false and I heartily recommend you ignore anyone who tells you that.

Unlike the casinos, the stock market is much more complicated, but perhaps not in a bad way. In casinos, the rules are already set, and over time, the house always wins. If they can't win, the game doesn't make it to the floor. Simple as that.

But with the stock market? All kinds of securities and all kinds of strategies can be used to tailor to your own investment needs. Bottom line: You don't have to fast trade, you don't even have to sell, and some stocks, I dare say, have much better odds than holding a good pair of cards.

Ooops, got off on a tangent. Big Grin Win or lose, I'm glad that I got a taste of what real gambling is like, because now, I can say without a doubt that I indeed do not like to gamble. And that's fine with me!

7 Responses to “First time gambling”

  1. miclason Says:

    lol! when we went to Las Vegas (office trip), one of the pictures we needed was the whole team gambling at a table. We each took out $20 and, since we were the only ones at the table, we agreed that we all would play and, if someone won, we would then split the money. Sure enough, out of the 5 of us, 4 lost and the last guy won $100, so, in the end, we were all lucky!

  2. Broken Arrow Says:

    Lucky you all. Big Grin I would love to go to Vegas some day. Not to gamble of course, but just to vacation there and sample the dining and shows over there.

  3. fern Says:

    Congrats on your win! I'd do the same thing...walk away. I don't much enjoy gambling, anyway, and have only tried it a few times.

  4. princessperky Says:

    I never did quite understand gambling myself, but you can tell a game of skill from true gambling by the house rules. House always wins over time on gambling. They take a 'rake' of winnings or charge to play for a game of skill (real poker is a game of skill)

    But always good to try something before you knock it Smile.

  5. baselle Says:

    Congrats on the win; double congrats that you'll probably end your gambling career on a high note. I played blackjack at AC in 1985. I figured I could lose $40, so anytime I made more than $40, I slipped the extra chips in my pocket. When I lost the $40, I was done, and cashed in the chips: $105.

    Just like investing in dividend stocks.

  6. gamecock43 Says:

    I hate gambling. losing money is so much more painful than winning. I just avoid it altogether.

  7. LuxLiving Says:

    The only time I was in Atlantic City was on one of those bus tours where they gave you rolls of coins. A family member bought the bus tickets, so I enjoyed watching everyone else gamble and I just kept my roll of coins and came home the richer.

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