Gambling

ceadaoin. · 03-07-2016 04:50PM

I used to work in the gambling industry and would have the odd bet on sports or horse racing. Can't really be bothered now. I live in vegas and I enjoy playing the slots occasionally, maybe once a month. Usually I'd win a couple of hundred but if not it doesn't matter because I have a set budget and stop when I've spent it.

Most people gamble within their means and don't have a problem IME.

pq0n1ct4ve8zf5 · 03-07-2016 04:50PM

Every few weeks I get a euro millions, spend the money in my head for the following few days, and then get irrationally annoyed when I don't win. OH puts a few bets on horses and soccer, only ever small ones and I don't think he ever expects to win. Gets me to pick the things for accumulators sometimes, with my system being along the lines of "ooh Chrystal Palace that sounds pretty!" so far haven't won any

Also the wishful thinking bets on Newcastle. Bless.

fryup · 04-07-2016 12:16AM

just lost a tenner tonight on the match:( it really is a mugs game

04-07-2016 12:32AM

sword1 wrote: »

..... I gamble a bit, but for small money, the big gambles i have taken have been on stocks and shares, had winners and losers ,i can see no difference between the 2,you try to get a little more info to make the right decision and hope for a bit of luck, same with property speculation etc ,yet they are viewed very differently

They are viewed differently as the bookies gross profit margin per event can be calculated easily and quickly. The effect of their profit margin is that the bookie wins and the punter loses. For those who can't understand this the phrase "mugs game" is a helpful everyday explanation.

Stocks & property speculation aren't at all comparable to sports betting.

I bet relatively frequently (at race meetings) as a leisure activity, the bookies are welcome to whatever they get from me

04-07-2016 12:36AM

Muahahaha wrote: »

At least you can argue that alcohol and tobacco are taxed heavily to pay the costs of health services. But gambling gets off scot free.

There is a 1% tax on all takings from betting shops nationwide. Bookmakers pay it on behalf of the customer. It's thousands per shop per week.

FortySeven · 04-07-2016 12:39AM

When I lived in Poland I had a go at roulette because the staff in the casino spoke English and I was in need of my own language. Lost a fair bit but it was causing issues for me at home for staying out late. Joined an online thing and had a go while drinking a few beers. Lost a month's wages in a few hours. Never gambled again. I've an awful addictive personality.

DontThankMe · 04-07-2016 12:42AM

Yes i have purchased too many €20 scratchcards than i would like to remember

maryishere · 04-07-2016 02:28AM

Grayson wrote: »

A report released by paddy power found that up to 2/3 of people who gamble online are addicted to gambling. It's an industry that feeds off addicts and lives of their misery.

That doesn't mean that I'm against gambling in it's entirety. I just think there should be limits in place by the major companies and financial institutions to stop people at a certain point. I knew a girl who got married and after the wedding she discovered that her husband had over 300k in gambling debts. His parents had even signed off on loans so he could keep gambling. How the hell can a bank and the gambling companies allow that kind of **** to happen.

Wow, scary stuff. I think in future there should be more restriction on gambling, lives can be seriously destroyed by it. I know one or two people here in Dublin who do well out of the gambling business (the house never loses), but to me its not an ethical business to be in. It reminds me of what the tobacco business used to be like many many decades ago, before people were really educated about the dangers.

BorneTobyWilde · 04-07-2016 02:33AM

fryup wrote: »

just lost a tenner tonight on the match:( it really is a mugs game

ONly a tenner.
I'll send you 50.00 hows that

BorneTobyWilde · 04-07-2016 02:34AM

ON paper so easy to win. But never works out in practice /??? Why is that?

No one can beat me on paper.

diomed · 04-07-2016 02:43AM

I gamble all the time. Profit for the last three months is €7,887.51. I've had a losing day.
My gambling is small. The profit is from a €50 deposit earlier in the year. Profit year-to-date is probably about €9k but I can't view past 3 months ago.

Gambling addiction is gambling by losers. They don't work at it.
Betting is great. Highly recommended.

Atlantic Dawn · 04-07-2016 03:07AM

Lots of gambling going on now on risky shares and property without any of the same stigma atrached to it as the bookies. Plenty of people still pumping money in to Irish bank shares, insane is the only word, backing Iceland tonight had more of a chance of a return.

NIMAN · 04-07-2016 03:14AM

dan1895 wrote: »

As a side. The amount of ads for gambling companies on during the Euros is sickening.

Ever listen to TalkSport in the UK.

For every 10 adverts, 9 are for gambling sites, with the 10th being for Screwfix or some company van rental.

Obviously the station is aimed at white van man who likes a flutter.

Re: gambling itself. I used to do the odd £2 or £3 bet on the EPL maybe 20yrs back, when you had to walk to a bookies and write out your bet. I rarely won, but felt I wasn't losing much.

I gave it a break for quite a few years but have opened PP or William Hill accounts in the last 6 or 7 years, and maybe spent about £20 on each of them, again winning nothing. Again lost interest in it all.

I do work with some guys who love to tell you how much they won on the Golf or the horses, they never tell you how much they are losing though.

The thing I find shocking now is the amount people are putting on. A decade ago, people would stick a few quid on an accum on a Saturday to give them an interest in the football. Now I know of people who think nothing of betting £50 or £100 on a single team or a double. I know people who bet during the night on football on the other side of the world. On teams they have never seen play, ever or ever will. I do worry about their addiction, especially when they have yougn kids. Its a mugs game.

But then again, didn't a lot of people in this country gamble on a completely different level back in the 00s? I was chatting to a guy the other day, maybe 35 years old. He owes the bank €150k due to failed property deals. Some of the people backing football teams will never owe that sort of money.

The flying mouse · 04-07-2016 09:00AM

Put something on a match or whatever if all the lads are doing it otherwise couldn't be bothered. I actually cant stand horse racing of any sort.

robbiezero · 04-07-2016 09:02AM

What I think is a disgrace is the way bookies can restrict you if you are winning.
Last year Skybet were the first to price up the Clare-Offaly hurling qualifier and they put the handicap at 9 points which was very generous to Clare. I opened an account with them and had 500 on that, it duly won easily enough and soon after the game I got an email from them to say my account was going to be restricted from then on.

Burial. · 04-07-2016 10:26AM

I gamble a bit. I play poker whenever I can and I bet on a few sports. I did a thing this year where I started with a tenner and see how far it can take me. Its now over 10k after a France -2 bet came through last night. It's not for everyone but when you get a knack for it, it's a great way to make money pretty handily.

donegaLroad · 04-07-2016 10:36AM

Online poker, you will never really win playing online poker. It is such a scam.

By the way, I heard from our local enterprise office that when they receive an application for funding or startup capital, they ask the applicant for 6 months of bank statements, and the only reason they do is to check that a person has any gambling related activity on their card or account.

If there is any evidence of gambling then the application will more than likely be refused.

closcriobh · 04-07-2016 10:42AM

I'm a huge racing fan so naturally that entails a bit of betting. I spend around €20 betting per month and although I know it's a bad habit and despise the bookmaking industry, I do feel I get value for money for my €20. Worst part is actually having to set foot in a bookies though. My word; a greyhound race every four minutes, Chilean and South African racing - horrific places.

valoren · 04-07-2016 10:42AM

donegaLroad wrote: »

Online poker, you will never really win playing online poker. It is such a scam.

By the way, I heard from our local enterprise office that when they receive an application for funding or startup capital, they ask the applicant for 6 months of bank statements, and the only reason they do is to check that a person has any gambling related activity on their card or account.

If there is any evidence of gambling then the application will more than likely be refused.

Same with mortgage applications. Very thorough examination of accounts and reasonably so.

Atlantic Dawn · 04-07-2016 11:39AM

valoren wrote: »

Same with mortgage applications. Very thorough examination of accounts and reasonably so.

But common knowledge now and so easy to get around with other ways to deposit money and withdraw, those with a problem will have it well hidden.

PistolsAtDawn · 04-07-2016 11:41AM

There aint no party like a s-club party.

smash · 04-07-2016 11:43AM

It's time the government started taxing winning.

PistolsAtDawn · 04-07-2016 11:49AM

smash wrote: »

It's time the government started taxing winning.

The time is the time

Winterlong · 04-07-2016 11:51AM

smash wrote: »

It's time the government started taxing winning.

Only a loser would say that.

I am with Charlie. Winning.

https://www.youtube.com/watch?v=pipTwjwrQYQ

Wanderer78 · 04-07-2016 11:55AM

I've worked with serious gamblers, dreadful addiction. They've lost almost everything including houses. Keep it under control folks

sabat · 04-07-2016 11:56AM

smash wrote: »

It's time the government started taxing winning.

The problem with that is that you introduce the principle of writing off losses against your tax and, seeing as most people are losers, it would be a net loss to the government.

Grayson · 04-07-2016 12:02PM

maryishere wrote: »

Wow, scary stuff. I think in future there should be more restriction on gambling, lives can be seriously destroyed by it. I know one or two people here in Dublin who do well out of the gambling business (the house never loses), but to me its not an ethical business to be in. It reminds me of what the tobacco business used to be like many many decades ago, before people were really educated about the dangers.

Gambling can be fun. I had a great aunt in the 80's who would spend the weekend pouring over the horses in the paper. She'd go to the bookies and place her bets. Never more than 10p on a horse.

Personally I play poker with friends at the weekend. €5 buy in so nothing flash. I buy a euro millions ticket occasionally, just a €2 quick pick. The most I've won is just over 50 and I've definitely lost more than I've put into it

But yeah, there need to be limits.

smash · 04-07-2016 12:02PM

sabat wrote: »

The problem with that is that you introduce the principle of writing off losses against your tax and, seeing as most people are losers, it would be a net loss to the government.

No you don't. In Spain there's a tax of up to 20% on lotto winning alone and it raises over 800 million a year for the taxman. You can't write off loses.

Grayson · 04-07-2016 12:10PM

donegaLroad wrote: »

Online poker, you will never really win playing online poker. It is such a scam.

I read of a guy who hacked it. The company released their random number generator to be transparent. The guy realised that if he knew the exact second the deck was shuffled there were only a certain number of orders the cards could be in. To determine the order of the deck he needed to know the position of any 6 cards. He knew that by the time it came to drop cards.

okidoki987 · 04-07-2016 12:14PM

What I think is a disgrace is the way bookies can restrict you if you are winning.
Last year Skybet were the first to price up the Clare-Offaly hurling qualifier and they put the handicap at 9 points which was very generous to Clare. I opened an account with them and had 500 on that, it duly won easily enough and soon after the game I got an email from them to say my account was going to be restricted from then on.

Not just winning accounts bookies will close you.
If you back horses and the price shortens, you will get restricted.
I've had loads closed/restricted over the years.
Getting to stage where opening new accounts in different names is the only way to get on.

In Spain there's a tax of up to 20% on lotto winning alone

US tax lottery winnings.
Can't understand why the government here don't do it?
Just a small % on the Lotto jackpot every week would bring in a bundle of money for them.

Gambling

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