Just lost money gambling

so i lost $100 a couple of weeks ago to gucionie

now i placed another $200 today on Delaqua at 3.60 to win ..


went out of my way too

i think i am a chronic gambler

lol
funnily enough I was thinking of taking all my money out of BHP and putting it on Hewitt -
should be brilliant odds
......
with commensurate risk

PS I'd better add that the ,missus is 110% sure that Hewitt is in big trouble against Djokovic

u always think of winning and not loosing

but when u loose it hurts

agro said:

so i lost $100 a couple of weeks ago to gucionie

now i placed another $200 today on Delaqua at 3.60 to win ..


went out of my way too

i think i am a chronic gambler

Click to expand...

If you eliminated the human factor from gambling you would have a better success rate, because the organisations take the money away from where it is most placed.The org`s are always out to take and `manipulate` the results to their favour. Hang loose when you lose.

I'm just gonna put my money on blue chip federer ...

agro said:

so i lost $100 a couple of weeks ago to gucionie

now i placed another $200 today on Delaqua at 3.60 to win ..


went out of my way too

i think i am a chronic gambler

Click to expand...

throw a few $100 on tendulkar to make a 100-150 in adelaide & of course

indias topscorer,usually get about $5.50,hes a little champ who got dudded

in perth,small square boundaries at adelaide suit him good...

$100 or $200 not too much to worry about. Taking your life savings down to the casino and blowing the lot is another matter - I'm told it's quite common in practice.

A few years ago i placed a bet on a well known male tennis player in the oz open. I cant remember his name at the present moment. Anyway, he was up 2 sets to 1, and then guess what happened - he retired from sun stroke. I lost my dosh.

I always think about putting money on Federer but always think what if he gets injured during a match and cannot play on.

Smurf1976 said:

$100 or $200 not too much to worry about. Taking your life savings down to the casino and blowing the lot is another matter - I'm told it's quite common in practice.

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Indeed it is, Smurf. And sadly amongst those who can least afford it, e.g. people on social security benefits. Quite frequently the whole fortnight's benefit will get blown on the day it is received on the pokies, leaving the rent unpaid and no money for food.
Sometimes it's simply a reflection of a miserable life where the illusory promise of the magic reward outweighs any sort of common sense.
Gambling can be an addiction just as ferocious as drugs and alcohol.

yer its my goal from now on not to gamble (i have said that before)

anyhow, lets just hope i can make up for what i loss on some day trading this week

sigh

agro said:

yer its my goal from now on not to gamble (i have said that before)

anyhow, lets just hope i can make up for what i loss on some day trading this week

sigh

Click to expand...

and the difference between gambling as a day trader on the market, and a punt on the ponies ? (stock selection vs horse selection, research vs form guide)

answer that question purely from your perspective only. (this is not an attack, just curious)

and others are invited obviously.

lol - you worried about $200?
try walking a mile in my bludy moccasins

PS may we all win heaps more than 200 this week

PS I usually think of the market - only small chance of improving versus big chance of losing - therefore stay out.
(unfortunately I screwed up in the last fortnight)

but going forward ... this week I'm thinking
at least equal chance of improving as losing - therefore stay put

PS I have become a "long term investor" it seems lol ( now to go buy a flaming newtonian telescope )

son of baglimit said:

and the difference between gambling as a day trader on the market, and a punt on the ponies ? (stock selection vs horse selection, research vs form guide)

answer that question purely from your perspective only. (this is not an attack, just curious)

and others are invited obviously.

Click to expand...

Unless a pro. gambler, all losses are not not able to be claimed as `capital loss` on income tax.If you win, no tax, but most/many lose otherwise everyone would be doin it.

son of baglimit said:

and the difference between gambling as a day trader on the market, and a punt on the ponies ?

answer that question purely from your perspective only. (this is not an attack, just curious)

and others are invited obviously.

Click to expand...

baglimit
the only difference to me is that if the horse comes fourth - you've lost

BUT
with shares - you are betting that he will "eventually" win - even if it isn't this week - and needless to say I (for one) prefer that scenario.

Bomba said:

I always think about putting money on Federer but always think what if he gets injured during a match and cannot play on.

Click to expand...

http://www.sportingbet.com.au/uipub/sport.aspx?l1id=10&l2id=793161
Roger Federer 1.08
Tomas Berdych 7.50

bomba
try putting a motsa on federer, and somehow slipping him a micky fin
- tequila in his water bottle or something .


PS
Novak Djokovic 1.26
Lleyton Hewitt 3.75
(no way Jose)

son of baglimit said:

and the difference between gambling as a day trader on the market, and a punt on the ponies ? (stock selection vs horse selection, research vs form guide)

answer that question purely from your perspective only. (this is not an attack, just curious)

and others are invited obviously.

Click to expand...

Expectancy.

Trading (or investing) with a proper strategy is intended to make a profit over a period of time. Not all trades will be profitable, but the odds are in your favour.

But gambling by its very nature has the odds against you. Sometimes you win, on average you lose. And there's nothing you can do with the pokies, lotto etc to improve these odds. Whoever is on the other side has decided them for you and they are in their favour not yours.

The exception is a professional gambler. But casinos don't generally allow too much of this beyond a certain point.

The ASX is not a zero sum game. There's a net profit to be made investing in stocks. Some will lose, but on average there's a profit from owning (even temporarily) part of a business. The reverse applies to casinos etc whice are a zero sum game - they don't actually create any wealth only redistribute it and consume some in the process. All those staff, buildings and flashing lights don't come cheap and on top of that the casino owner makes profit too. All of which comes from the net losses of gamblers.

If I see an abandoned car stopped in one of the outside lanes on the Tasman Bridge (nearly always a suicide jumper if the car is abandoned) late at night, especially a Friday or Saturday night, the first thing that goes through my mind is always one word - "casino". I don't have any figures on the issue, but I've heard too many stories of people losing the lot to not think that in some cases it probably does mean these people pay the ultimate price.

Gambling is like alcohol IMO. OK in moderation and under the right circumstances but very frequently abused with nasty consequences in practice. I'd gladly see the end of pokies outside of proper casinos for that reason - it's simply too accessible when they're in every pub. That they seem to be concentrated in the lower socio economic areas is my main point of objection whereas (at least in Hobart) the casino was intentionally built in the wealthiest part of the city for this very reason. It requires a conscious effort to get there for most and thus helps avoid the temptation that many seem to give into when the pub across the road has pokies.

James Packer (closet scientologist ?? ) has his finger nails sharpened to `catch` some of them suckers that think they can beat the odds.He must think that a large increase in gambling is coming but prolly to recoup some of the family losses.

I bet his favourite saying is "a sucker is born everyday".


Wysiwyg for the `wealth distribution party` vote 1.

tigerboi said:

throw a few $100 on tendulkar to make a 100-150 in adelaide & of course

indias topscorer,usually get about $5.50,hes a little champ who got dudded

in perth,small square boundaries at adelaide suit him good...

Click to expand...

Did you do it tigerboi?????Good see matey.