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Thread: Having a bankroll for gambling.

  1. #1
    One of the basics of gambling is knowing what your bankroll is -- meaning the amount of money you can safely and comfortably use for casino visits.

    Elsewhere on this forum there have been claims of casino wins, which can't be verified by me, or anyone else. There are also claims that by playing certain games and with certain knowledge that gamblers can be winners.

    I urge you to take these with not just a grain of salt, but with a boulder of salt. Beware what you read on the Internet, and beware that on an anonymous message board or forum, it is difficult if not impossible to verify claims of wins or profits at casinos or from any methodology or strategy for gaming.

    In another thread one of our regular posters said, in part:

    Originally Posted by arcimede$ View Post
    ...my gambling is just another form of investment. Of course, I actually expect to make money gambling due to playing only positive return games. I realize you have to treat gambling differently because you expect to lose. Don't confuse your situation with those of us who actually know how to make money at it.
    Wow. I really hope he's right.

    And so this note of caution: Please, under no circumstances consider gambling -- and especially video poker -- as a form of investing. Gambling can never be an investment. Even professional gamblers who earn their living full time in casinos and card rooms know that they have to have outside investments. Casino gambling cannot pay dividends or interest when you have stopped playing. It can only be a form of current income and never provide for growth or recurring income which is what investments are supposed to provide when you are not able to work or when you retire. If you are ill, and you cannot make a trip to a casino, then casino gambling as an investment has become a worthless "asset."

    One of the basic rules of gambling is that the money you have to risk on the table or in the slot, is separate from your investment money.

    You might be a darn good gambler who does win, but don't risk the money that you will need for your future.

    There have been a lot of criticisms made to me for the amount of casino and gaming information presented on this website and that I allowed it after reporting on "good family finances" for so many years on TV-- and that is why I am writing this.

  2. #2
    Alan, back with your usual nonsense I see. The proper way to think of advantage gambling is simple. It's like some other money making endeavors, that is, variable income jobs. However, unlike most jobs it does require a bankroll to smooth out the bumps. Hence, it may be more akin to something like individual professional sports. For example, a professional golfer is smart to maintain a reasonable bankroll to get him through the slumps.

    There's no reason why that money can't be invested in some kind of money making account. Although, preferably one with low risk. So, it should not be confused with other kinds of investments where you are looking out many years to see a better overall return and willing to take moderate risks, but it can be invested nonetheless.

    Hope this helps you understand the situation.

  3. #3
    I am one who hasn't fared well with my gambling over the years until recently, and Alan is right, it is only income for the time at hand if even that. I have fairly considerable investments that I will use for my hopefully long retirement period that I pray starts soon. But the first post must have stubbed arc's toe in such a way that he can't be comfortable with how alan sees it, seeing that arc cannot be involved in any topic unless he believes the masses see him as the smartest of the smartest.

    No way gambling is a variable income job, at least as reported by Bob Dancer. He says he wins every year, it's not some strange type of variable and that's that, just like arc claims but now attaches confusion so we can't really get a glimpse of what he doesn't want us to know. In short, I wholeheartedly agree with what Alan is saying and judging from arc's post, since he's the smartest, he agrees with Alan too. The opening insult was only due to arc-depression and should not be taken at face value.

  4. #4
    I see Singer couldn't help but jump in with his usual logic challenged response. I often wonder if Singer can continue to create comments that are even more strange than his previous ones. Yet, he continues .... must be hitting the sauce really hard these days.

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