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Old 01-14-2009, 02:40 AM   #1
joelouis
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What percent of the people that gamble win consistently

I know of 1 person he was on 60 minutes, don't ask me how many years ago I forgot. All I know is that he was Jewish, lived alone, had invested at least 60 hrs a week into his so called hobby and usually bet on , football, baseball, basketball. He said that is your really really good you could make a living. He also said that the percentage of people that make a living out of gambling, that include's horse betters is about 2%. Be honest with yourself how many horse betters have you known that always tell you about the winners or the great day they had. You never hear the ones that lost their business, house, car, marriage etc. Just a little something to think about when you make your next bet on whatever. I myself have seen the light. I am not judging anyone I have been there done that, I just have seen so many guys and women throw away their lives. It is really sad when you think about it. I hope I do not get banned for writing this, but I could see why I would. After all lets all stick our heads in the sand and not think about it.
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Old 01-14-2009, 06:39 AM   #2
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Stock market is not any different. Make sure you include stock brokers and anyone with a 401K. How many people lost their homes who don't gamble?


$800B in bailout money. That is a lot of people. They were not all gamblers. Even the porn industry wanted bailout. They gambled they could show us something we ain't seen before and lost.

Those that want to make a living gmbling will find a way to do so. The rest are recreational and those that have a problem are people with a problem. Get counciling. I am thinking about those that want to "hit the big one". There is no accounting for that. People who don't take responsibility for themselves are not your problem. Sad situation but not your problem.
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Old 01-14-2009, 08:50 AM   #3
Robert Fischer
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technically the term gambling is inclusive of wagering on uncertain events.

however most for-profit players do not consider themselves to be "gambling"

gambling has gained an unfair negative connotation.
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Old 01-14-2009, 10:06 AM   #4
OTM Al
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Quote:
Originally Posted by joelouis
I know of 1 person he was on 60 minutes, don't ask me how many years ago I forgot. All I know is that he was Jewish, lived alone, had invested at least 60 hrs a week into his so called hobby and usually bet on , football, baseball, basketball. He said that is your really really good you could make a living. He also said that the percentage of people that make a living out of gambling, that include's horse betters is about 2%. Be honest with yourself how many horse betters have you known that always tell you about the winners or the great day they had. You never hear the ones that lost their business, house, car, marriage etc. Just a little something to think about when you make your next bet on whatever. I myself have seen the light. I am not judging anyone I have been there done that, I just have seen so many guys and women throw away their lives. It is really sad when you think about it. I hope I do not get banned for writing this, but I could see why I would. After all lets all stick our heads in the sand and not think about it.
This is getting really lame. You start multiple threads complaining about a dq to try to get people riled up and then you post garbage like this. Sorry you have a severe gambling problem. While I suppose there may be a couple people on this board who do as well, the vast majority of us here play well within our means and have a great deal of fun doing it. So frankly, if I want preaching I will go to church. Whether you get banned or not is not my decsion, but one thing you can do for yourself is get your own head out of a place that doesn't normally involve sand.
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Old 01-14-2009, 10:24 AM   #5
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i agree Al. I wonder what joelouis is doing here myself
I started learning about gambling in the bowling alley when i was 12. bowling for $ after the jr league was over and playing the pinball machine for $. started going to the track when i was 16. i only got in trouble once, when i was about 19. i owed a bookie around 1,000 and that was a lot of $ back then. it was betting on football. once i grew up i realized that its not any fun betting with $ u need for bills. i saw a lot of guys get ruined when i was a kid. i learned. its like anything else. u have to control it.
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Old 01-14-2009, 10:27 AM   #6
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The question that you need to ask yourself is: why am I investing my hard earned money in a game in which 99 people out of 100 are losers? I think that you need to no longer consider this game as a possible form of income and more as a hobby. If you can't do that then you need to quit.

Bottom line is: if you've seen many people ruin their lives as a result of a gambling addiction, don't believe for an instant that you aren't immune from suffering the same fate. It's ok to bet on the horses, but you must be responsible.
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Old 01-14-2009, 10:57 AM   #7
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More than just semantics

I go to the track (or simulcast facility) two or three times a week and I don't think that I'm gambling. In fact, I hold that the successful horseplayer has an aversion to gambling. He would never buy a lottery ticket, play a slot machine, or engage in any random-outcome game of chance.
As a parimutuel wagerer (my substitute term) I try to master the two elements that can get me to overcome the takeout: handicapping and money management. Said another way it's not just what you bet it's how you bet it. A great deal of discipline is involved including skipping more races than you bet.
I do see the gambling types there though and there is a commonality among them. They play most of the races, use their favorite numbers sometimes, bet more when they're ahead, and are often influenced by the board. I saw one guy cash for a large amount and then play a $100 quikpik exacta box. You'll see them for a few days and then they're gone again, probably rebuilding a bankroll.
No need to feel sorry for anyone. We're a free society which means that we're free to do stupid things. The winning horseplay isn't going home with the track's money, its source is those that lost.
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Old 01-14-2009, 12:06 PM   #8
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T-Horse Racing is the only thing that I "gamble" on, other than Super Bowl boxes, and I do it for fun. I play within my means and have no problem doing so. I enjoy the intellectual challenge and excitement and at least feel that I can gain an edge. At least I have a chance to have fun and break even or make some money, as opposed to when I play golf and pay $50 - $100 in greens fees and have no chance of re-couping my "investment".

I think if this hobby, as with anything else in life, becomes all-consuming then it's time to step back. If you think you might have a gambling problem you should seek assistance. Better that then letting it ruin your life. Just my 2 cents.
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Old 01-14-2009, 12:07 PM   #9
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I have serious doubts about this 2% only that win playing the horses. At the track no one counted my money when I entered or when I left. Like anything else in life no player can stay on top year after year and getting bumped down wouldn't mean your a loser for that year or in the game as a whole. What about granny that hit that $150,000.00 playing her numbers on a $2.00 ticket, I've seen many of them over the years. Today there's so many different pools the public has access to that spreads that money around to large variety players. I've known weekend players that did very good playing the horses and many spot players that were winners just hit and run. What about the guy that hit that huge Breeders Cup pick 6 with a $12.00 play, is he counted? How many whales are out there churning millions scoffing up that rebate money for a 2 or 3% profit that is supported by some people here? For some players just hitting 4 or 5 good payoffs be it supers or pick 4's for the year puts them in the black. Who's counting them? A buddy of mine had a pad answer when someone asked him if he wins playing the horses, "no I come here every day to throw my money away". That always changed the subject.

If only 2% of the members here win at the game, there's an awful lot bull going around. Again, I find that hard to believe. Where these statistics come from is the question. I don't know of any independent study that's been done. I say independent because those that are against gambling their stats are always skewed anyway and they always vote for to sin taxes.

Subjects like this are far from being a priority of mine. There's other things that are more important to me as a player and what the wife expects of me.

Good luck today,

T.D.
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Old 01-14-2009, 02:14 PM   #10
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Quote:
Originally Posted by nobeyerspls
I hold that the successful horseplayer has an aversion to gambling. He would never buy a lottery ticket, play a slot machine, or engage in any random-outcome game of chance.

As a parimutuel wagerer (my substitute term) I try to master the two elements that can get me to overcome the takeout: handicapping and money management. Said another way it's not just what you bet it's how you bet it. A great deal of discipline is involved including skipping more races than you bet.
That summarizes it for me. The pari-mutuel aspect of thoroughbred wagering, and the skill involved in handicapping, are what separate horse racing from the types of negative-expectation, luck-based, true gambling games that you mentioned. Being able to judge the actual winning probability of horses and exotic wagers, and betting only when the odds/payoff will compensate you for the risk you're taking, are the keys.

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Old 01-14-2009, 02:48 PM   #11
kenwoodallpromos
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"Gam(B)ling"

Quote:
Originally Posted by Robert Fischer
technically the term gambling is inclusive of wagering on uncertain events.

however most for-profit players do not consider themselves to be "gambling"

gambling has gained an unfair negative connotation.
Which is why the Indians were smart for using the term "gaming", making their activities seem more like a non$$$ kids' "game".
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Old 01-14-2009, 03:02 PM   #12
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Quote:
Originally Posted by Overlay
That summarizes it for me. The pari-mutuel aspect of thoroughbred wagering, and the skill involved in handicapping, are what separate horse racing from the types of negative-expectation, luck-based, true gambling games that you mentioned. Being able to judge the actual winning probability of horses and exotic wagers, and betting only when the odds/payoff will compensate you for the risk you're taking, are the keys.
That sums up my outlook on it.
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Old 01-14-2009, 03:08 PM   #13
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Gambling is only a problem when you lose all the time.

Most horseplayers win and lose but not lose enough to cause a problem and when they win, it's icing on the cake!

Some horseplayers will bet their last $2 and go home broke. That could be a problem!

Some make a living at it.

We all eat. Some overeat and cause a problem.

Some people do drugs and function normally. Some abuse them and it's a problem.

Many people drink alcohol with no problem. Others abuse it and it's a big problem.




You can only control what you do and not worry about others. You shouldn't lecture to people that "your way" is the only way. So you lost your house due to gambling or the stock market. That doesn't mean everybody will lose their house. It's not horseracing's fault. It's not the stock market's fault. It's your fault for making a bad investment.
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Old 01-14-2009, 03:39 PM   #14
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i think the guy on 60 minutes you are referring to is clem banks, he is out in las vegas last i recall. i saw a piece on him it might have been 60 minutes i don't remember but it was interesting to see how someone that makes a living on gambling operates.
of course most every horseplayer on pa wins too
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Old 01-14-2009, 03:45 PM   #15
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Twindouble

Hey TD.....good to see you back! Hope all is well.
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