What are your thoughts on online gambling?
Question by AgentOrange: What are your thoughts on online gambling?
Im doing a project at school and I need to know some thoughts on online gambling so can someone please have their say?
Answer by oz c
I hope you dont do it. I am from UK and online gambling is so easy, credit card or bank account is all you need. There are many forms of gambling such as Casinos, Blackjack, Roulette etc, Lotteries, Bingo, Poker. For most people they are able to keep it under control but for many it is a slippery slope into Bankruptcy. People chasing a quick buck, desperate people, lonely people. Gambling ruins peoples lives and very few people win more than they spend over a period of time!
I Think that it’s not ” the real thing “. Gaming sites and casinos are there to takeyour money.
Good question though.
It’s a form of entertainment, knock yourself out.
Online gambling is basically a tool for people when they’re too lazy to drive to the casino, or when you’re between 18-21 and can’t go to most US casinos but you can gamble online. I like it, I’ve done it, I don’t regret it. It’s an escape.
I used to play online poker avidly but when it was banned in the US I was deeply saddened. I never lost money doing so (at least not anymore than I put in… broke even some times).
You can split (online) gambling into three types
Poker where you can win by playing in games where you are better than your opponents. The primary rationale for playing poker is to make money.
Sports Betting (horses etc) and Spread Betting (shares etc). Here you can arguably win money if you are skilled enough but the primary rationale is for entertainment (studying form, gathering statistics)
Blackjack, Roulette, Slots and the like are sheer escapism. You cannot win at any of them long-term and they require nothing beyond minimal skills. They are also solitary activities.
All these type of online gambling are potentially addictive and can have adverse effects on a minority of people and their families.
It is the third group that is the greatest danger – they are specifically designed to be bright, flashy, require no skill, quick to play, with frequent (small) wins to hold the interest. In other words they are made to be as addictive as possible. They also appeal most to the lonely, the desperate, and the socially inadequate – the ones most at risk of getting hooked.
There are those who argue strongly that some or all of these types of gambling should be banned. The opposite view is that providing the are well regulated they should be allowed as all individuals should be able to make their own decisions in these areas.
I am in the latter camp but I think that is has to be accepted that there is a downside to online gambling and this has to be recognized and addressed.
Now let me get back to my poker.
Im 32 and started playing online poker when I was 27on Poker Stars and Party Poker. First,online gambling in the US is not illegal. In 2006 when the UIEGA port bill passed a few gambling sites left the US because of the uncertainty of regulations regarding taxes. A few major sites leftin 2006 such as DoylesRoom,Paradise and Party Poker. Currently PartyPoker is the only site not operating in the US, all of them returned in mid 2007.
As far as a career, I make an average of 80,000 a year playing tournaments and ring games in mid stake level . 1/2 to 2/5 only on Pot limit Omaha and Limit Omaha and No Limit Hold”em. My largest cash was a $200 buy in tournament in 2005 on Pokerstars where I won $186,000. However, this may sound great but when you win you have to declare taxes which I got hit in 2007 with penalities and unclaimed earning that cost my $47,000 in back taxes owed. In the state of Texas,gambling is not considered earned income living so you willpay taxes in excess of 40- 65% in taxes depending in what state you live. Currently, the only state that recognize gambling as a earned income profession is Nevada.
In the past 5 years of playing, I won as much as $25,000 in one month and I’ve lost as much as $60,000 in a week. If you want to make a living at this,my suggestion is to take a course in business management and read as many books on Gambling from author’s like Mike Caro, Doyle Brunson, and Jim McManus.
Simple fact, most people who try to make gambling a career choice are likely to have little success and are in a different field of work within 9 months of starting out.
I don’t participate in it and never will. First of all, it’s too easy and too convenient. It’s like being five steps away from a casino 24 hours a day. That can definitely lead to trouble.
If I want to play casino games, I’d rather do so in an actual casino environment than sitting at my computer.
Finally, you have no way of knowing for sure if the site is on the level. Most are, but not all. You’re looking at a computer simulation of the real thing, and there’s always the possibility it can be rigged. At a casino, you’re looking at real cards, a real roulette wheel with a ball, throwing real dice, etc.
It’s a known fact that real casinos don’t cheat, simply because they don’t have to.