How often do you gamble and how much success do you have?
I’ve never been a big gambler, far from it, but due to lockdown, working from home and all the football on TV this year, I have done more so. Out of boredom more than anything.
I’m only about £100 down this year but I’ve decided that my new year resolution is to pack it in completely. Over these last few weeks I’ve found myself betting on every game and I’m starting to realise just how addicting it really is - it’s a road I would rather not go down.
They’ve not been big stakes by any means and my fair share have won, but I find the temptation to claw back lost money too much sometimes.
Would be interested to hear your about your gambling habits, along with general thoughts and views.
Multi-board admin?
Is Gambling a Mugs Game?
posted on 30/12/20
comment by Edbo (U17933)
posted 5 minutes ago
comment by The scenes (U22442)
posted 20 minutes ago
comment by GTWI4T- some people deserve to get trolled (U6008)
posted 20 minutes ago
comment by The scenes (U22442)
posted 5 minutes ago
comment by Ace (U22467)
posted 13 hours, 32 minutes ago
comment by Edbo (U17933)
posted 5 minutes ago
comment by Ace (U22467)
posted 9 minutes ago
The simple answer is yes, it’s a mugs game and the road to ruin if you get in too deep.
Not at the level you’re talking about - £100 a year loss is less than a tenner a month and totally negligible. But it doesn’t matter whether you’re betting a fiver on a line on the footy or high rolling in a casino, you can never beat the book. These facks aren’t in it for charity.
Close pal of mine has lost about half a million quid to gambling in the last four or five years. He always played down how much he spent, but his executive accounts with various bookmakers got him (and therefore me, numerous times) gratis front row seats at the snooker, ringside at Haye Bellew, tickets for PL games and the Darts. He’s in GA now, and nearly lost everything. It’s not just him, my uncles were wide boys, only time they left the pubs was to walk over the road to the bookies, always skint because everything they made went into the bookies pocket. Gambling is big business because because bookies want you to bet because every punter, in the end, is a mug punter.
If you want to turn your money into more money buy bricks & mortar, bitcoin and Rolex steel sports watches.
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Trading Rolex’ is something my dad does well out of and I’m considering getting involved when the time is right, are you into it Ace?
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Yeah I’ve made some money from flipping a few Rolexes, but it’s not a regular thing for me. It’s difficult to just ‘get into’ though as to be able to buy at MSRP you have to have a relationship with an authorised dealer, otherwise you’d be buying on the grey market where the prices are inflated. If you dad has an ‘in’ he could maybe get a watch for you at MSRP that you could hang onto then flip.
Stainless steel sports models are practically a commodity these days, you buy it at list and you cannot lose money, it’s just getting hold of them that’s the challenge. You get the right model you can make a lot of money as demand is high and supply is low, and some also get discontinued which increases their demand. The watch I wear every day is a black dial Oyster Perpetual 39, pretty plain watch but my taste is towards the understated, it’s not classed as a sports watch but it was discontinued a bit unexpectedly in September and is now trading at £6500, which is 2 grand more than I paid. Daytona’s and Batman’s would yield a much bigger profit if you could get one at list, as would a Hulk if you’d got one when they were available. A common Submariner, their most iconic watch, which you can buy for £6.5k from an AD, is going for about £9k on the grey market because there are plenty of people that have the money and aren’t prepared to sit on a waiting list.
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You don’t half talk some rubbish m, stop living in a fantasy world
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Pretty standard knowledge and a topic Ace has spoken about on here for years.
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Please show me an example.....
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Why should he? I doubt he will lose any sleep over not wasting time proving something to a stranger online.
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I’d say I’m surprised but I’d be a liar
posted on 30/12/20
comment by Nicottino (U14419)
posted 1 hour ago
My wife lost her home because her ex husband was a gambler. Because of that she hates gambling and I have never put on a single bet since we have been married.
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That's awful. I have a friend who's wife left him because his gambling addiction. It's amazing how quickly it can spiral out of control. He would get so annoyed that a horse he wanted to back, but didn't, wins. He'd then spend the rest of the week trying to win the money he thinks he's lost. And in the process, losing a sh!tload.
posted on 30/12/20
comment by MourOUTho (U22347)
posted 33 minutes ago
comment by Edbo (U17933)
posted 1 hour, 37 minutes ago
comment by MourOUTho (U22347)
posted 1 hour, 8 minutes ago
comment by Edbo (U17933)
posted 28 minutes ago
comment by MourOUTho (U22347)
posted 2 hours, 17 minutes ago
comment by Ace (U22467)
posted 9 hours, 7 minutes ago
The simple answer is yes, it’s a mugs game and the road to ruin if you get in too deep.
Not at the level you’re talking about - £100 a year loss is less than a tenner a month and totally negligible. But it doesn’t matter whether you’re betting a fiver on a line on the footy or high rolling in a casino, you can never beat the book. These facks aren’t in it for charity.
Close pal of mine has lost about half a million quid to gambling in the last four or five years. He always played down how much he spent, but his executive accounts with various bookmakers got him (and therefore me, numerous times) gratis front row seats at the snooker, ringside at Haye Bellew, tickets for PL games and the Darts. He’s in GA now, and nearly lost everything. It’s not just him, my uncles were wide boys, only time they left the pubs was to walk over the road to the bookies, always skint because everything they made went into the bookies pocket. Gambling is big business because because bookies want you to bet because every punter, in the end, is a mug punter.
If you want to turn your money into more money buy bricks & mortar, bitcoin and Rolex steel sports watches.
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Do you have Bitcoin, Ace?
I bought some last year, best investment decision I have made. It has gone mental over the last few months.
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I think I’m really going to kick myself in the future if I don’t get involved. If you don’t mind me asking, what did you invest and what’s that worth now?
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I had a few thousand in a premium bonds account for 5 years and made grand total of £200 profit when I cashed it out
I decided to put it all into Bitcoin and a couple of other coins (Ethereum, Litecoin, Cardano) last September and the balance has almost tripled.
It's volatile, when I originally invested, 1 Bitcoin was £7500. By March 2020, it had dropped to £3k. Right now, it's over £20k. An all time high.
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How tempted are you to sell?
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Not tempted at all mate. I'm in this for the long haul
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Good on you, it really wouldn’t surprise me if you’re up tens, if not hundreds of thousands in years to come.
posted on 30/12/20
Comment Deleted by Site Moderator
posted on 30/12/20
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posted on 30/12/20
Comment Deleted by Site Moderator
posted on 31/12/20
Ace, what are your general predictions for the future of crypto? Confident they’re a shrewd investment?
posted on 31/12/20
Comment Deleted by Site Moderator
posted on 31/12/20
comment by Ace (U22467)
posted 16 minutes ago
comment by Edbo (U17933)
posted 32 minutes ago
Ace, what are your general predictions for the future of crypto? Confident they’re a shrewd investment?
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I’m not an expert at all mate, from what I’ve read everything points to a continued rise in 2021 - especially with PayPal now introducing bitcoin, and the fact they are limited to a certain amount of units so it’s not vulnerable to artificial inflation in the event of worsening recession etc. I don’t know the details but supposedly the Biden administration may introduce regulations on crypto currency that could have an impact? As with anything where prices are rising be it property, gold, oil etc there’s always the risk of a bubble bursting. Could be that markets that became volatile due to covid settle down in 2021 with a vaccine which impacts crypto’s ability to grow like it did in 2020. I don’t trade in crypto’s mate, my money has always been in property, we have a broker that does some share trading for us and as above the odd sideline such as Rolex has proven profitable in the last few years, so I’m not really the best person to ask or any sort of authority by any stretch, far from it in fact. I’ve considered having a dabble but have probably missed the boat in terms of major profiteering looking at current prices. When it comes to money I’m not a risk taker. I think there are some guys on here that are really into it if you do a search
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Fair enough mate, only asked cos of one of your previous posts on this article - I assumed you had invested.
posted on 2/1/21
It's a mugs game because the online bookies try and shut down anyone who is actually successful at it.