Views and opinions on gambling?

Question

everyone has different ideas on gambling and whether its a huge risk or whatever!

i need information on the statistics, how likely you are to win, how much the government recieves, how much profit casinos ect make and any personal experiences. thanks.

Answer 1

Imho, I look at gambling from my pinball playing experience. Before I learned about how to play pinball, i just mindlessly hit buttons and measured how good i got by how long I could last. after i learned how, I realized what a big difference skill makes. Now, in any gambling game i play, I try to see the effect of skill. if skill is meaningless, I don't play. Therefore, in my opinion, I only gamble when it's not gambling, where knowledge and skill give me an edge over the house. there's only a few games where this can occur though, in my experience:

Craps (betting the don't come)

Paigow

Poker (variations where the house isn't involved)

Answer 2

Not all gambling is the same so it is hard to answer your question.

People who play house games (Blackjack, craps, roulette, baccarat, slot machines, etc) will never win money in the long run. So there is no risk since it is a guaranteed loss.

In the short term / one time out the chances of winning are really dependent on too many factors. The house advantage on any game is easy to google but that depends on bankroll management and skill in minimizing the house advantage to the mathematical minimum.

Non-house games can be beat (poker and sports wagering). I have been a professional gambler since the late 80s. I was a lawyer but I was making more in a month gambling than I made in a year as a lawyer. There are thousands of people making over $100k a year working less than 30 hours a week playing poker. The risk is really relative to skill level. It is a closed system so for someone to win X someone else must lose X.

Casino revenues are really location dependent. The Venetian probably makes more in one day than Rama makes in a month. Google will get you stats. Most casinos are owned by public companies so must file. Just look at least years reports which will be available on their websites under investor relations.

Answer 3

waste of money

Answer 4

why do you need information.??gambling has been around for centuries.everybody knows if you gamble,you lose more than you win,.nobody cares how much money they make!.the gamblers are still gonna throw their money at them because they WANT to.plz reply.