Man is betting everything he owns on one spin of Roulette wheel (1 Viewer)

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 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.

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'.

I only gamble with my life (when I eat out), never my money.

Here is a link

Must not value his well being very much.

"Is this place honest?"

"As honest as the day is long...."

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."

DUDE!!!

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.

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.

He even sold his clothes.

Who bought his underwear?

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.

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