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


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49 replies to this topic

#1 of 50 OFFLINE   JohnS

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Posted April 11 2004 - 06:30 AM

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

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#2 of 50 OFFLINE   BrianW

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Posted April 11 2004 - 06:48 AM

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.
-Brian
Come, Rubidia. Let's blow this epoch.

#3 of 50 OFFLINE   CRyan

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Posted April 11 2004 - 07:55 AM

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. Posted Image

#4 of 50 OFFLINE   NickSo

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Posted April 11 2004 - 08:21 AM

Why... would he do that?

Don't think of gambling as gambling... its just a very VERY risky investment, but with very high returns Posted Image


#5 of 50 OFFLINE   LewB

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Posted April 11 2004 - 08:32 AM

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 of 50 OFFLINE   Garrett Lundy

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Posted April 11 2004 - 09:01 AM

I only gamble with my life (when I eat out), never my money.Posted Image
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#7 of 50 OFFLINE   JohnS

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Posted April 11 2004 - 09:23 AM

LewB,
I'm assuming he's betting on red/black

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#8 of 50 OFFLINE   Richard Travale

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Posted April 11 2004 - 09:38 AM

Maybe he's terminal and just going out with a bang?
 "Cock your hat - angles are attitudes. "
- Frank Sinatra 

#9 of 50 OFFLINE   Michael Pineo

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Posted April 11 2004 - 09:40 AM

Here is a link

#10 of 50 OFFLINE   Travis Olson

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Posted April 11 2004 - 09:46 AM

Must not value his well being very much.

#11 of 50 OFFLINE   JohnS

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Posted April 11 2004 - 10:27 AM

Well he WON!
http://www.reuters.c....toryID=4799011

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#12 of 50 OFFLINE   Ricardo C

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Posted April 11 2004 - 12:08 PM

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 Posted Image Cheers, Mr. Lunatic Posted Image
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#13 of 50 OFFLINE   Dennis Nicholls

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Posted April 11 2004 - 01:03 PM

"Is this place honest?"

"As honest as the day is long...."
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#14 of 50 OFFLINE   Dennis Nicholls

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Posted April 11 2004 - 01:09 PM

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."
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#15 of 50 OFFLINE   JohnS

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Posted April 11 2004 - 01:12 PM

Quote:
"He shouldn't have done it. He's a naughty boy

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

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#16 of 50 OFFLINE   Brian Harnish

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Posted April 11 2004 - 01:47 PM

DUDE!!! Posted Image Posted Image Posted Image Posted Image

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 of 50 OFFLINE   Jed M

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Posted April 11 2004 - 01:50 PM

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.
Long you live and high you fly
And smiles you'll give and tears you'll cry
And all you touch and all you see
Is all your life will ever be.
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#18 of 50 OFFLINE   Francois Caron

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Posted April 11 2004 - 03:34 PM

He even sold his clothes.

Who bought his underwear? Posted Image

#19 of 50 OFFLINE   Jason L.

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Posted April 11 2004 - 09:58 PM

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 of 50 OFFLINE   Chu Gai

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Posted April 11 2004 - 11:46 PM

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