Thoughts on gambling?

[AaronArc]

Curious to see what the community thinks about this behavior. Obviously it's reckless, but why not? What more do we have to lose?

My preferred method is buying stock options (no casino). Risked a large sum this week but ended up making 200% returns. The high stakes are kind of fun. At worst I go broke, but I've set aside enough to get me through to where I need to go. At best I get some excitement, l can blow a good chunk on silly stuff, and I'll have more $ to donate and to leave to my family.

 

[not_a_robot]

Worst case scenario, you get addicted and it becomes a reason to live. Not so bad, if you're good at it.

 

[dandan]

forget about it

 

[andy69]

Other than buying an occasional lottery ticket, I don't understand it. I don't know why anyone would want to spend time in a casino.

 

[Dead beat dad]

Depends on your personality. I have had several good friends ruin their lives with gambling. To the point where one guy is literally not allowed to have money

 

[blanketyblk]

I do pokes once a week to get out of my house. I try to spend a max of $10 and i often feel like a cheap hooker at the end of the night, dirty and in need of a some strong mouthwash.

 

[fastFWD]

someone I work with said it best; "suckers go in and losers come out," which I feel is the case with most of the people who go to the casino.

that being said I got pulled into the casino scene for years and gave them about 100k. I had to ban myself for life from the local casinos. I have finally learned to control myself and travel to windsor every couple months for entertainment.

tbh tho bitcoin/crypto would def be your best bet.

 

[peacetoall]

Trade crypto. Use 100X leverage.

 

[dandan]

Trade crypto. Use 100X leverage.

I've never done it but could....
where are you making those bets? poloniex? coinbase? bitmx?
do you know the minimum required amount?

 

[DreamCatcher]

Gambling is for entertainment, not for profit.

That being said if you want to leave anything to family I'd just set it all aside for them now, if you keep gambling it eventually it'll all be gone. But if you're not worried about that then have fun!

 

[Jean Améry]

Obviously gambling with small, insignificant sums of money is harmless and might be good fun (dopamine release). Gambling with money one actually needs is stupid and reckless. In your case I don't see the harm given that you're sensible enough to provide savings.

Trading in stock options is something I would never do as it's inherently dangerous (potential for big wins = potential for big losses) but I've been told it's possible to hedge one's bet so to speak. Do you do this or is it simply thrill-seeking behaviour?

 

[Thorn]

As this is in main section, I instantly thought - Russian roulette.
But stock market without very reliable insider info is indeed gambling. I have known people who did live quite well for a while, doing only that, and only few, the extremely cautious ones came out of this pit as winners. It's just another pyramid scheme.

 

[LMFAO FOCKERS]

Curious to see what the community thinks about this behavior. Obviously it's reckless, but why not? What more do we have to lose?

My preferred method is buying stock options (no casino). Risked a large sum this week but ended up making 200% returns. The high stakes are kind of fun. At worst I go broke, but I've set aside enough to get me through to where I need to go. At best I get some excitement, l can blow a good chunk on silly stuff, and I'll have more $ to donate and to leave to my family.

Just make sure you stick to your limits. My brain got addicted to trading whether I was doing bad or good so I started abandoning my rules. Funny, I did well when I was just a casual investor / trader. After making some good money over a few years. Then I lost all my gains and then some in a matter of months. Lost a good bit of retirement money.

 

[peacetoall]

I've never done it but could....
where are you making those bets? poloniex? coinbase? bitmx?
do you know the minimum required amount?

I do trade crypto, but I don't use leverage...too risky. I have used a few different exchanges, but I mostly use coinbase pro. I used to use binance to trade alt coins, but now they don't let US residents trade. If you want to use leverage, bitmex or kraken are probably your best bet.

 

[dandan]

I better dont...