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Man is betting everything he owns on one spin of Roulette wheel

Discussion in 'After Hours Lounge (Off Topic)' started by JohnS, Apr 11, 2004.

  1. JohnS

    JohnS Well-Known Member

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    I heard on XM radio, that a man in Vegas is cashing in everything he owns($140,000) and is putting it on one spin of the roulette wheel, today(sunday) in Las Vegas.

    I live in Vegas, and haven't heard anything about this, or which casino its happening at, but apparently some stations are covering it live
     
  2. BrianW

    BrianW Well-Known Member

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    I wouldn't bet everything I own on a coin toss, even to win many, many times what I own. No matter how trememdous the upside, the downside is simply more than I would be able to handle.
     
  3. CRyan

    CRyan Well-Known Member

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    Brian pretty much sums up the downside for me. I get distressed when I lose a few hundred - even when I allowed myself to lose a few thousand. Gambling can be really fun when I break even or just lose 50 or so. No fun at all for me when I start losing more than that.

    Cannot imagine losing it all to gambling.

    Ugh! Makes me stressed thinking about it. [​IMG]
     
  4. NickSo

    NickSo Well-Known Member

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    Why... would he do that?

    Don't think of gambling as gambling... its just a very VERY risky investment, but with very high returns [​IMG]
     
  5. LewB

    LewB Well-Known Member

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    Any one know what bet he's making on the roulette wheel ?
    Is he betting a number straight up ? or 'just' red or black ?
    Assuming a wheel with 0 and 00, the true odds on a single number bet are 38 to 1 with a payout of 36 to 1.
    For a red/black bet you get paid 'even money' if your color comes out even though the 0 and 00 are neither red or black. So I guess that makes the odds higher than 50-50 even though you are being paid as if it were a 50-50 bet. That is what's called the 'house edge'.
     
  6. Garrett Lundy

    Garrett Lundy Well-Known Member

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    I only gamble with my life (when I eat out), never my money.[​IMG]
     
  7. JohnS

    JohnS Well-Known Member

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    LewB,
    I'm assuming he's betting on red/black
     
  8. Richard Travale

    Richard Travale Well-Known Member

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    Maybe he's terminal and just going out with a bang?
     
  9. Michael Pineo

    Michael Pineo Well-Known Member

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  10. Travis Olson

    Travis Olson Well-Known Member

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    Must not value his well being very much.
     
  11. JohnS

    JohnS Well-Known Member

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  12. Ricardo C

    Ricardo C Well-Known Member

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    I heard about this in another board, and I posted something like "Did he also rent a gun, for when he loses?" I'm glad to eat my words [​IMG] Cheers, Mr. Lunatic [​IMG]
     
  13. Dennis Nicholls

    Dennis Nicholls Well-Known Member

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    "Is this place honest?"

    "As honest as the day is long...."
     
  14. Dennis Nicholls

    Dennis Nicholls Well-Known Member

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    According to his father:

    "I'm still against it," said his Dad. "He shouldn't have done it. He's a naughty boy. I tell my kids they shouldn't gamble. I've got four others and they're all going to want to go the same way."
     
  15. JohnS

    JohnS Well-Known Member

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    Boy?? isnt this guy an adult.
    That quote is funny
     
  16. Brian Harnish

    Brian Harnish Well-Known Member

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    DUDE!!! [​IMG] [​IMG] [​IMG] [​IMG]

    Normally I don't support gambling in this type of fashion, but I've gotta say that guy is triple-talented: Incredibly gutsy, stupid, and lucky at the same time.
     
  17. Jed M

    Jed M Well-Known Member

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    Thats great news, I was following this story. Unfortunately I would bet (no pun intended) that he loses it fairly quickly judging by his new career.
     
  18. Francois Caron

    Francois Caron Well-Known Member

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    He even sold his clothes.

    Who bought his underwear? [​IMG]
     
  19. Jason L.

    Jason L. Well-Known Member

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    This is still a terrible idea.

    He is still going to have to pay a lot of taxes on his winnings [which I would assume would be taken out up front, I believe], which makes the risk/reward factor plummet sharply.

    A better idea would be wager everything on a sporting event, and spread the money among A LOT of casinos - for tax purposes.
     
  20. Chu Gai

    Chu Gai Well-Known Member

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    But was he really risking as much as it seemed? Perhaps there were financial upsides from the selling of his story.
     

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