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How To Win At the Casino – The Complete Guide - Best ways to win at Roulette | Never lose again

How To Win At the Casino – The Complete Guide - Best ways to win at Roulette | Never lose again submitted by NostradamusdeRomania to u/NostradamusdeRomania [link] [comments]

I live in a small mining town in the mountains of Colorado. Someone is building a massive casino nearby, Pictures Included

I grew up in a small mountain town named Eureka. It was founded in the late 1800s during the gold rush, but after the mines dried up the town began its slow descent into decay. Half the houses are empty or abandoned now.
You can see a picture of the kind of houses here in Eureka:
First house
Second house
When a massive construction project began nearby, it was the talk of the town for weeks. Why would they build something in a sleepy dying town like Eureka? It wasn’t until my sister Selene talked to a few construction workers that we discovered they were building a casino.
A casino up in the mountains, over two hours away from Denver. None of us could understand why they’d chosen here of all places. After a few months of work, the casino was done.
I took a picture of the town with the completed casino in the background to the right. The ten-story-structure sticks out like a sore thumb off in the distance.
Town+Casino
After the casino opened, they hired a few dozen members of the town, offering high paying jobs to work as dealers or cleaning staff. I was already employed as a firefighter, but my sister Selene got a job as a blackjack dealer. She’s a widow with two young kids, so the paycheck was a real lifesaver.
Still, something about the situation seemed too good to be true. The jobs over there paid far too well, and the management was far too accommodating. The fire station where I work is located high on a hill overlooking the town, so I began watching the casino from a distance each day.
I had initially thought that the casino was located in a terrible location, but I was apparently wrong. True, Eureka was hours from any major city, but despite that, a bus full of people arrived every morning and left every evening.
One night I was over at my parent’s house and had dinner with Selene and her kids. I asked her about her experience as a dealer.
“It’s Ok,” she said. “Just a little boring I guess.”
“Boring?” I asked. “I’m surprised you don’t have your hands full.”
“Why’s that?” she asked. “It’s like you said, Eureka’s too small. I never have people playing cards. The casino is almost always completely empty.”
I wasn’t sure what to make of that. If the place was always empty, what happened to the people who I’d seen arriving on buses? “I’ve been keeping an eye on the building,” I said. “A bus full of people typically arrives around 9 AM every day.”
“Really?” she asked, looking confused. “If that’s true, I’ve never seen them.
“I can see it from the fire station,” I said. “If you head out for a smoke break at 9 AM, you’ll probably see them arriving.”
“Interesting,” she said. “I’ll do that. If they’re being processed for their organs or something, I’ll let you know.” She laughed.
“Har har,” I said sarcastically.
The next night she sent me a text calling me over. When I arrived, she was nearly breathless with excitement.
“Orin, You were right,” she said. “A big group of people did arrive, but they didn’t walk into my part of the casino. Instead, they all walked into an elevator at the back of the building. I’m not sure where that goes.” She looked thoughtful. “It was weird. They looked… How can I say it? Desperate? Something about the whole situation was very off. I’m gonna check out the elevator tomorrow.”
I told her to be careful, though, to be honest, I was excited to hear about what she discovered. When I visited my parent’s house the next night, I found her two kids there alone. They told me that Selene had never returned from work.
I called all her friends, then all our neighbors, but no one had seen her since she left for work that morning. Our conversations regarding the casino flooded my mind, then a plan began to form.
Early the next morning I walked across town in my nicest pair of jeans and a button-up shirt. I pushed through the door to the casino and saw that Selene wasn’t lying. The place was all but deserted. Three dozen slot machines crowded the walls surrounding a few tables interspersed throughout the floor of the casino. The only players in the whole building were Bob and Donald, two locals.
I walked up to a nearby table where Bridget, a girl I’d gone to high school with, was shuffling cards. She broke into a grin when she saw me. “Hey Orin, you here for a few rounds of blackjack?”
“I wish,” I said. “No, I’m here to ask about Selene. She never made it home last night.”
Bridget’s expression darkened. “Really? Have you asked around?”
“I already called around. Have you seen her?”
She shook her head. “No, our schedules rarely line up. I’ll be sure to let you know if I--” Her eyes focused on something behind me, and she cut herself off.
I turned around to see the casino’s pit boss watching us both. He was a tall thin man in an impeccably clean black suit. When I turned back towards Bridget, she was looking down at the table and shuffling cards absent-mindedly.
“Well, if you hear anything, let me know,” I said.
She nodded, so I turned around and headed for the pit boss. I stuck out my hand. The temperature of his hand was so hot that I had to pull my hand away after a few seconds.
“Have… have you seen my sister Selene?” I asked. “She hasn’t been seen since her shift here yesterday.”
He smiled. “Sir, this floor is for players. You’re more than welcome to head to the tellers for chips, but barring that I’m afraid I’ll have to ask you to leave.”
I stared at him for a long second before stalking towards the door. When I looked back, he was talking with Bridget.
I checked my watch. 8:55 AM, just as I’d planned. I walked around the back of the building and waited as the morning bus pulled around the building. I waited for the telltale hiss of the opening doors and the sound of people descending before I rounded the corner and joined the crowd. None of them paid any particular attention to me as I walked with them into the casino.
The crowd walked through a side door down a hallway to an elevator. Small groups of people entered the elevator as the rest of us waited for our turn. I shot a glance at the casino patrons, surprised at their diversity. There seemed to be people from all different countries and ethnicities. I heard one speaking Japanese and another speaking what sounded like an African language.
My turn came along with a few other patrons in the elevator. A sickly woman hobbled into the elevator beside me carrying an IV that was still connected to one of her veins. We piled in and rode up to the top.
The elevator rose for a few long seconds. I wasn’t sure what I would find, but I steeled myself for something horrible. The elevator’s speaker let out a TING, then the doors opened.
We all walked out onto what looked like a standard casino. Another few dozen slot machines ringed the walls, but on this floor, they were almost all occupied by customers. I took in the scene, confused at why they’d have a ground floor that was almost completely empty when this place was almost--
Selene was dealing cards at a nearby table.
I jogged over and sat down at an open seat. None of the players around me paid me much attention.
“Selene!” I said. “Are you OK? Did you spend the night here last night?”
Her eyes were glassy and confused. She looked up at me with a dumb expression and didn’t respond to my question.
“Selene?” I asked.
“What’s your bet?” she asked me. “This table is for blackjack players only.”
“I…” I trailed off, looking at the players around me. None of them were betting with chips of any kind. “What’s the minimum bet?” I asked.
“Three years,” she responded.
“Three years then,” I said, not knowing what that referred to.
Selene nodded, then began dealing cards. I shot a look down at my hand. King and a 9. Selene dealt out cards for herself, showing a 9. I stood, then leaned forward again. “Should I call the police? Are you--”
“Congratulations,” she said tonelessly.
An almost impossibly warm hand grabbed my shoulder. I spun to see the pit boss I’d spoken to earlier. He gave an impressed smile. “Orin, was it? I’m impressed, truly. Would you mind if I had a word with you?”
I shot a look back at Selene who was dealing the next round of cards. Then I got to my feet, balling my hands into fists. “What did you do to her?”
The pit boss clasped his hands behind his back. “Nothing more, and nothing less than what I’m going to do to you. That is, offer you the chance to play.”
“What the hell is that supposed to mean?”
The pit boss nodded his head towards a nearby slot machine. A woman in a wheelchair pulled a lever and watched the flashing numbers spin. They exploded in a cacophony of sirens and flashing lights. “WINNER WINNER WINNER!” The machine screeched.
The woman in the wheelchair put her feet on the ground and stood up on a pair of wobbly legs that had clearly never been used before.
“As in any other casino,” the pit boss said, “you must wager for the chance to win.”
“She... won the use of her legs?” I asked, feeling light-headed. “Wait,” I said. “I played blackjack just now. ‘Three years,’ Selene told me. What does ‘three years’ mean?” I asked.
“Three years of life, of course. Did you win?”
My mouth felt dry. “I-- Yes, I won.”
He smiled warmly. “Congratulations. I hope you enjoy them. I can tell you from personal experience that watching the decades pass is a bore. Give it some time and you’ll be back to spend them.”
I watched the pit boss’s face. He couldn’t have been more than a few years older than me, and I was in my early thirties. I looked around at the casino. No one was playing with chips of any kind. “So what?” I asked. “I won years of life. That woman won the use of her legs. What else can a person win here?”
“Oh, almost anything. They can win almost anything you can imagine.”
A cold feeling settled in my stomach. “And what do they wager?”
His eyes flashed with greed. “Almost anything. They can wager almost anything you can possibly imagine. Anything equal in value to the item they want in return.” He nodded towards a nearby roulette table.
A man stood by the table, cradling his hands. “Another finger,” he called out. He only had three fingers remaining on his left hand. As I watched, the ball came to a stop, and another finger disappeared from his left hand.
The pit boss extended his hands. “Feel free to try any of our games. Bet and win whatever you’d like.” He reached out and snatched my hand. A feeling of intense warmth passed up my arm to my chest. “There,” he said. “I’ve even given you some house money to get you started. An extra decade of life, on me.”
I ripped my hand away, staring at him in horror. Then I looked back at Selene. Something clicked in my mind. “You offered her the chance to play. What did she want?” I asked.
“Her husband,” the pit boss said. “Quite the sad story. He died two years ago. She wanted him brought back to her.”
“What did she wager?” I asked.
“She wanted the chance to win a soul, the most valuable object in existence. I’m sure you can imagine what she needed to wager for the chance to win it. What she wagered is unimportant. The important question is: What do you want, Orin?”
I stared at Selene with a flat expression. “I’m sure you can imagine.”
His eyes flashed with greed again. “How wonderful. The casino could always make use of another dealer. Feel free to make your wager at any one of our games; I’ll be eagerly awaiting the results of your night. Oh, and do take advantage of our waitresses. We always supply food and drink for ‘high rollers’.” He walked away.
I spent the next few hours trying to decide which game to play. I was going to be wagering my soul, so I wanted the highest chance possible. Slots and roulette were out. I’d done some reading online about counting cards, so I figured that blackjack gave me the best odds.
I walked up to Selene’s table and sat down. “Bet?” she asked with that same toneless voice. “Three years,” I said.
I spent the next hour or so doing my best to remember how to count cards. I knew that low cards added one to my count and high cards decreased it by one, but the casino used three decks. I had read something about how that was supposed to change my calculation, but I couldn’t quite remember how.
Every time I won a hand, I cursed myself for not putting everything on the line. Every time I lost, I breathed a prayer of thanks that I’d waited. And all the while, I kept track of the count.
I had lost fifteen years of life when the count finally reached +5.
“Bet?” Selene asked.
“I wager my soul so you can be free,” I said.
The table around me fell silent. Selene’s eyes flickered, but she showed no other emotion as she dealt the cards. I watched my first card, punching the air in excitement when I saw a Jack. My excitement turned to ash when my second card was a four. Fourteen.
I looked at her hand. One card was facedown, but the faceup card was a King. I swore loudly, staring down at my hands.
“Hit?” she asked. The entire table was silently watching me.
“Hit,” I said, not looking down. The table erupted in cheers. I looked down to see a 7 atop my two other cards. 21. Blackjack.
I looked at Selene who flipped over her facedown card to reveal a 9. 19. I won.
The glassy look left her eyes immediately. She looked around in surprise, then her eyes locked on mine. “Orin?” she asked, then almost immediately began to cry. The entire casino broke out in cheers.
I grabbed her hand and headed for the elevator. The doors had begun to close when the pit boss reached out with a hand to stop them.
“Congratulations,” he said, beaming. He seemed to be honestly excited.
“Shouldn’t you be upset?” I asked.
“Not at all. Casinos love it when we have big winners. It inspires the other players to make larger bets. I imagine I’ll gain two or three dealers before the night is through from your performance.”
“Great,” I said flatly. “Now let us go.”
“Not yet,” he said. “You didn’t just win, Orin. You got a blackjack. And blackjack pays out 1.5 times your bet. You won your sister’s soul and more.”
I stared, not sure what to say. “What are you saying? I won half a soul extra?”
The pit boss grinned wildly. “Just remember what I said. You’ll find living for decades and decades to be a boring experience. After a few centuries, you’ll be back to gamble that half a soul away. Congratulations!”
He removed his hand, and the elevator doors slammed shut.
I helped Selene back to her house. Her children were relieved. I watched them cry, then moved into the kitchen to start making dinner.
It’s been a few days since that experience. The casino is still out there, and buses full of people still arrive. I… I cut my hand pretty bad a few days later. When I checked it an hour later, it had already healed, no scar or anything. I’m not sure exactly what I won at that casino, but there’s no way I’m ever going back.
X
submitted by Worchester_St to nosleep [link] [comments]

Stories from 12 years of Casino Industry

I was asked to make a post about some stories within the Casino grounds so I thought I'd share. I have many so I'll do my best to pick the better ones.
Some back information: I've been a Casino Dealer for 11 years, I've been a supervisor for five years, and I've been a Surveillance Operator for one year. I've worked at three properties, none of which are connected or owned by the same company. I've worked on : Government/Private/Native American owned casinos.
  1. From Hero to Zero.
At my first Casino, I was one of the first group of people who were trained to deal Roulette . After 4 weeks of working 6PM-3AM then doing roulette training from 3AM-8AM (Not paid) , I actually really enjoyed the game and after about six months I became extremely quick at the number game and the pace of the action was steady with very low margin of errors. Young man walks in, cashes in for $500. He buys in for $2 chips and just loads the board. After a few spins and pretty decent hits, he then changes his chips from $2 to 5$ then to $10 and racks his winnings up to $10,000. It was then, five spins in a row, he loaded the board with some pretty gross bets, and every spin I would hit the ONE number with either NO CHIPS on it, or maybe 1 chip , He lost all $10,000 in a matter of minutes. He leaves , and I go on break. After my break I was going back to the same table and wouldn't you know it, the same young man walks in and cashes in another $500. He tells me he just sold his car outside and this is all that he had left. So we do the same deal, buys in for $2 chips, then slowly starts betting $5 chips, $10, $25...and he makes $10,000 AGAIN. Within the next 25 minutes it was straight agony. Every spin, same thing, he would bet $2500 in chips, and win only $250, $400, and after about a half hour he lost it all . Never saw the guy again.
2) Man down
At this property, we are 24 hours for table games. It's currently 5AM , and I'm dealing some $25 Blackjack to this guy. He's probably early thirties , heavy guy. He's sober as can be, but right away I can tell he's been losing. We know how much you've bought in for, how much your down, or up, and I could see he was down $2000+. After about twenty minutes of pure losing, his temper starts to flare.At this point I now have two other guests at my table. Drinking coffee, not saying a word, just losing their money. After losing hand, after hand, this guy looks me straight in the eye, seized up, starts shaking, he can't move. He tries to punch towards me and smashes his stack of chips all over the place and falls backwards to the floor. I call for security, we cannot touch him due to liability . I can't move from my table because, well, liability / casino cash property, all I can do is try to talk to him. As I'm doing so, these other two woman who are sitting at my table just look at me and one says "OK, dealer, cmon lets go " as she taps the table telling me to start dealing and forget about the guy having a stroke on the floor. As security takes him to the ambulance out front, I had to stay behind for a couple minutes and give a statement. I go on break. I come back, and 45 minutes later, he comes right back in with a oxygen tank and keeps gambling for the remainder of the morning.
3) You get a dildo, and YOU get a dildo!
On a late summer Saturday night, we had a large event for these massive muscle guys/strongman competition type thing. After their show, I'm at the roulette table , and five of these boys come over to play. They were absolutely hilarious. They were feeling pretty good, cashed in somewhat large amounts and I could tell this was going to be a fun time. After about a hour of dealing to these guys, it's almost midnight, everybody is pretty hammered , I spin the ball, and all five of these guys take out these god damn (what I can only tell was) two feet purple dildos from inside their pants, and wiping them around in the air. The ladies were just loving it, one of the dildos landed in the roulette wheel and we had to shut the table down to re-calibrate the wheel to make sure nothing had been changed. I just remember that night was so much damn fun, I couldn't believe what I was seeing and I would never forget it.
4) Full Moon
On this day, I was actually training dealers / supervising them on small games like Three Card poker. We opened the table at 10AM, and this older man came and sat down . He played all day. The jackpot was $21,000 and that was pretty high for this table. He played, and played and played. He's one of the players where you know he's wearing a diaper because he's been drinking coffee/pop all day and hasn't moved in eight hours. As the day went on, this man never moved from his chair. Getting closer to midnight, he was aggravated and said "I need to go have a smoke, I'm getting killed in here". He left, and the very next hand, the lady beside him was dealt the jackpot . He didn't say much, but you could just tell he just hated life at that very moment because had he not gotten up, it would of been his hand. The man calmly took his cane , his hat, jacket, coffee, and left. The next morning I found out when he did leave he drove his car straight through his bank and was arrested.
5) Slick Robber
I actually give props to people who can actually pull this off. This story may confuse you so I'll try and explain things as best as possible. A lot of casinos have machines as soon as you walk through the front doors. A man walks up to one of these machines and sticks in HIS $100 bill. He doesn't gamble it, instead he hits the cash out button and gets a $100 TITO ticket where he then takes the ticket to the ATM machine to get his $100. Now remember, his Original $100 is in the slot machine. He then takes the $100 from the ATM and goes back to the same machine, and repeats this process over a hundred times. Essentially he's taking money from the ATM, and loading up the Slot Machine . Now he knows he can't do it too much because if the slot machine gets full of money, the machine will shut down and the slow attendant will have to take all the cash out. So he deposits over $10,000 , then has a small crowbar, he cracks the machine open and makes a run out the front door. To my knowledge he was never caught . But damn, that was pretty smart .
EDIT:
6) Mental Health is a thing.
10PM man walks in to play some high limit BlackJack. This guy knows the game and played well. Dressed nice, drank juice/tea , a little bit of a attitude, cashed in over $10,000. When this man was half way down his buy in, he said something a long the lines of "If I don't win here tonight, I'm going to go set myself on fire." I wasn't sure if he was serious because when people are down, they tend to say a lot of nonsense. I actually left early that night, and from a third party was told he did exactly that in the parking lot. The next day it was clear something terrible had gone wrong in the parking lot .
EDIT:
7) Nothing good happens after midnight
After a busy Saturday night, I was dealing a mix of games, and during this story I was in the middle of Blackjack. I had one young kid (probably 19) sitting in the middle, one older male probably in his later 40's sitting beside him on his right, and I had a really nice couple in their 20's sitting together at the other side. This young kid wasn't playing just sort of watching, and ever time the old man won he would give this young guy some of his winnings. The older man, was a wine drinker, and he had black between all of his teeth, I'll never forget. He's a little drunk but nothing terrible. As the night goes on, the older man goes and uses the washroom, at which point the couple asked the young guy "Oh was that your dad?" and the young guy says "Hah, no I wish!". The couple and I just looked at each other. This old guy, was in complete control over this kid. Absolutely disgusting. The night ends, and I find out the couple called a few of their friends, and they all waited outside by this old mans truck and beat the living hell out of him. 40 years old, sleeping with a 19 year old, completely brain washed . Very weird.
8) That one co-worker where you just wish they would quit.
One of our co-workers, nice guy but had a very big ego and we as employees just sorta left him alone. One day he had enough of the atmosphere and quit. Now usually when you quit, you cannot come back until you paperwork is finalized. How ever, HR was in that day, and he was given the paperwork the very next day. He came in, cashed in $1000, and made $50,000 in about a hour at the Baccarat table. My manager, was extremely annoyed, because now this guy is just mocking the casino and having the time of his life (Thanks for the big tip by the way :) ) and so he decides to call it quits. He wants to ban himself and he wants $50,000 in cash. The casino says Nope, we are going to give you a cheque. Now here's the thing, most business people will take the cheque, how ever you CANT CASH the cheque until the following monday because it's on that day where the funds are available. The casino on the other hand will cash their own check in anytime , because they want you to play. So this guy pretty much said go to hell I want my cash, and he called the police. Police show up, and management promptly gave him the cash.I though it was absolutely hilarious .

9) No good deed goes un punished
I was dealing Three Card Poker, and the jackpot was around $17,000. This old man (a regular) was sitting there all day grinding it out. Super nice guy, always a pleasure to deal to. Well, after hours of playing, he stands up and says "Hey john!, can you come here for a minute?" so his buddy John comes over. He says to John "I need to go take a piss real quick, can you play my card until I get back?" John agrees . John takes the chips and I stop him and explain he can't play his friends chips, he needs to cash in and play his own. And he does. Welp, second hand out and bam, doesn't he win it. The old man comes back and is so happy, he can't believe it. John, took his $17,000, didn't say a word to his "buddy" and walked away. I never felt so much hatred in all my life. Didn't give him a dollar, not a thank you, nothing. The old man sits back down again, the progressive resets to $2500, and he sat there grinding away again.
10) The Top Knot
I had this player , young guy, who was born into a fortune. One of his relatives passed away and left him a pretty big sizable amount of money, so he played poker every single day for the rest of his days. I will add, he IS a good player. I did not enjoy his company just because of the "Know-it-All" attitude, but he was good. We'll call him John. John is 5'10, and well build, with muscle. John also decided today was the day to show off his Top Knot. (google top knot if you're not sure what I mean) So he sits down, and he's absolutely KILLING the table. Every hand, after hand, after hand. And because he's in such a good mood, he's playing any two cards, calling any $500 bet, and he's just dominating. This one guy at the table decided he had enough. He got up, without saying a word and left. A moment later, he comes back in, walks behind John, and takes a pair of scissors , and cuts off his Top Knot. I for one couldn't believe it, dying laughing inside, and it just turned into one big brawl. That was a good day.
11) That one bad seed
One of my best friends who I haven't seen in YEARS ended up being part of the crew. Was kind of nice to catch up. We never really got along as we grew up because he has a very high picture of himself . He wanted that 10/10 woman. A mansion, and a new Corvette. So every month or so we would all go up to the other casino to play. I myself would bring no more than $500, but I couldn't understand how this guy (we'll call him Kyle) was spending THOUSANDS of dollars at the tables. So this wen on for a few months. Well, one day, as we're closing the casino, he and I are in the High Limit room and we're getting ready to close the tables. We are told to take the chips out, count them, put them back, sign this piece of paper and that's it. Well as the supervisor was locking the tray, the piece of paper fell to the floor, so she asked Kyle to grab the piece of paper. As he bends over, a great big $500 chip falls right out of his sock. Kyle was fired immediately , but it all made sense. They offered Kyle a deal where if he replaced all the stolen chips they would not make it public. Not sure how that turned out.
12) If I ever decide to write a book, this will be the last chapter: <3
After working at my first Casino for five years, I met a Indian woman who was visiting from another part of the country. During this time I was explaining a game to her, which honestly I don't think she even cared. She explained she was visiting and sight seeing , and that was that.Well, two years later I ended up moving to the other side of the country and transferred casinos, and low and behold she worked there as a Dealer. We got married , and it's been 5 years.
13) The Tip
One of our tables that we've had for a couple years had a progressive jackpot that had reached $100,000. The dealer at the table was sitting pretty lonely. Nobody really played the game because people knew it was extremely difficult to win the jackpot. My memory is a tad foggy, but you somehow needed to flop the royal flush. This young guy sits down and says to the dealer, we'll call him John. "John, if you pay me that jackpot, I will tip you $10,000" Well John started dealing, and about a half hour into his shift, he F*cking did it. He dealt him the royal. And you know something?This young lad, kept his word, and he made sure there was a audience, and he tipped exactly $10,000. That was a moment right there. That pay cheque was real nice. I think we all got about $500 more than usual. The moment that jackpot was awarded they got rid of the table because the money it was making was not near what the casino wanted. I'm sure there have been bigger tips at other casinos, but that was something special .
14) The Lawsuit
Now this story I'm going to have to beat around the bush a bit due to the nature of what happened. I can't won't answer any questions that you may have on this topic other than what I have to say because it had a lot of publicity . The waitresses at this casino had to wear very thin sexy clothes. Not borderline legal, but it was noticed. One day they called all the waitresses to come in and explained they were changing their outfit to something even more sexier. Now these new dresses were very very borderline legal . The staff said No way. We're not wearing that.So , friday night comes, and the staff work their whole shift, then at the end of their shift were called into a meeting and were all fired. Welp, one of those ladies father was a pretty big time lawyer. Brough the casino to court and won. They won big. Good for them. We had no waitresses for a couple days haha.
Thanks for reading along, I have many more I can add as the day goes on, those were just some off the top of my head. Feel free to ask any questions of the Casino industry. I don't really have many stories about the surveillance department because that's the one area where I can't really say a whole lot due to its privacy and contracts I was and still am under.
submitted by viodox0259 to TalesFromTheFrontDesk [link] [comments]

[TRADING PSYCHOLOGY] Nobody ever takes a trade thinking it's going to be a loser

I spent several hours this past week coaching traders at my prop firm. And something caught my attention…
Every single one of these traders needed help with the same thing.
It has to do with what I call the “reverse” gambler’s fallacy. And it’s something many traders struggle with.
Today, I’ll show you how to get this common obstacle under control… and start earning more consistent returns year after year…
What Most New Traders Get Wrong
The obstacle I’m talking about is trading psychology. It’s a very broad term used to describe the emotional side of trading.
Almost all new traders believe the most important part of trading is being able to analyze markets like a pro.
On the surface, this logic makes sense. After all, if you can reliably forecast which direction to take on a trade, the money should take care of itself… right?
What these novices don’t yet understand is that something special happens the moment you commit your money to a trade…
You start feeling things.
Whether it’s fear, excitement, anxiety, or a mix of all three, no one is immune to these emotions. And they can wreak havoc on even the best planned trades.
You may be able to call the direction, the timing, and the target price to perfection… But it can all be for nothing if you are unable to stick to your trade plan.
I can’t tell you how many times I’ve seen traders plan out a great trade… But then ended up somehow losing money, or not being in the market when the move they’d forecast played out.
So how do you beat your emotions to become a better, more consistent trader? It comes down to the three key parts of trading. Let me explain…
The Three-Legged Stool of Trading
I think of trading as a three-legged stool.
Your methodology/strategy for picking trades is the first leg. Your risk- and trade-management strategy is the second leg. And the third leg is your trading psychology.
In my experience, most traders focus on the first leg (strategy and methodology), and they neglect the other two legs. But the stool needs all three legs to stand on its own.
Over the years, I’ve honed my own proprietary method to develop well-rounded traders. Here’s what I’ve learned…
The first fundamental building block of a profitable trader is to establish a proven strategy/methodology you can use to identify good trades. In my experience, everything follows from this foundation.
How you manage your risk and your trades should be determined by the strategies you employ. Your trading psychology likewise will be influenced by your approach to risk and trade management.
I’ve seen other trading instructors assign arbitrary percentage values to the three legs of the trading stool. Usually these values are divided up like this: 30% to the level of importance on the analytical strategy, 30% to risk and trade management, and 40% to trading psychology.
But I don’t believe that any one leg is more important than the other. And yet I’ve found that, more often than not, traders neglect risk/trade management and psychology.
So how do you stop neglecting these two important areas to become a more well-rounded trader? That’s where our reverse gambler’s fallacy comes in…

Time to Ditch the Casino Mentality
There is one block that seems to stop traders from progressing to working on the other two legs.
That is, they don’t know how to flip the switch from thinking about their trades as individual trades in a vacuum… to thinking about them as a collection that relies on a statistical edge to net a profit.
Most traders run into this problem at some point in their careers. And if you’re frustrated with your trading right now, chances are you may be struggling with this, too.
It’s known as the casino mentality. And it’s the same mindset that amateur gamblers will take with them into Caesars Palace or the Bellagio.
It doesn’t matter if they’re seated at the blackjack table or standing over the roulette wheel. Most gamblers believe that the hand or spin they are about to play is the opportunity to hit a winner.
After all, if the roulette wheel has landed four black spins in a row, the next one surely must be red, right?
In reality, the chances of the roulette ball landing on black or red is even, at about 47.4% each. This means each spin is independent of the last.
This is also known as the gambler’s fallacy. What’s interesting is that I’ve observed a kind of reverse gambler’s fallacy from many traders…
This occurs when a trader, who does in fact have a statistically proven strategy, goes on a losing streak… And then instead of continuing to trust their strategy, they abandon it altogether.
How to Avoid the “Reverse” Gambler’s Fallacy
I saw this logical fallacy in effect this past week during one of my coaching calls.
The trader I was coaching had recently taken a technical setup that simply did not work. He was convinced he had done something wrong and wanted my help in improving his analysis.
But his analysis was great.
He didn’t do anything wrong in identifying the setup, which was textbook in nature. But the setup looked so good that, when it resulted in a loss, the trader was convinced that he was the problem… That he did something wrong.
The lesson I imparted to him, which I now want to pass on to you, is this very simple truth…
Nobody, and I mean nobody, ever takes a trade thinking it is going to be a loser. Every single trade you take will be because you thought it would make you money.
Despite this feeling of confidence, out of 100 trades, you’d be lucky to win 50% of them.
That’s why a great trader is not defined by what percentage of their trades end up as winners or losers. A great trader is defined by whether or not they are net profitable after taking 100 trades.
If you win roughly as many trades as you lose, but your winners make you 2x or 3x the amount of money you give back on your losers, you will end up with a nice profit at the end of the year.
Remember, nobody ever takes a trade thinking it is not going to work out. This is why it is absolutely crucial to abandon the idea of thinking about your trades as individual trades.
Instead, start taking a more data-driven, statistical approach to your trading. What do I mean by that?
Keeping a longer-term perspective on your trading is the key to longevity in this business. What your numbers look like over the next 100, 200, or 300 trades is far more relevant and important than losing your cool because you lost a handful of trades in a row.
Of course, to be able to make it to 300 trades, you must have a rock-solid risk management plan in place.
I don’t see gamblers at the casino take a professional approach very often. It’s rare to see someone bet small and stick to the odds on every play. It’s far more common for gamblers to be all over the place with the size of their bets.
They may start off betting small, but after winning a couple of hands of blackjack, they get overconfident and take an outsized bet. Sure enough, on that next hand they go bust while the house just happens to hit blackjack.
This is how casinos make money from gamblers. And it’s how the market parts amateur traders from their capital.
No doubt, it takes a lot of hard work and discipline to make the transition from amateur to professional. But, I promise you, the rewards make it all worthwhile. Until next time.
Regards,
submitted by ParallaxFX to Forex [link] [comments]

Ultimate Casino Cashback Guide - Earn over £500 - Every Offer Explained!

This guide aims to outline all of the best gambling cashback offers available over a range of sites, following this guide you should be able to make over £500 in cashback
Note - Cashback often takes a while to payout, bear this in mind when completing offers as you may have to wait to cashout your earnings
When completing these offers don't chase any loses as the cashback will give you a profit with nerly every offer
A short review of each site and some referral links
Topcashback - Cashback will show as tracked within a few days, can take a few weeks to become payable, in some cases even longer, asides from gambling they have great offers for car insurance and mobile phone contracts, worth taking a look to save some extra money!
Ref - Extra £5 when you make £10 cashback
Non-Ref - No reward
Quidco - Much the same as Topcashback
Ref
Non-Ref
Minimum payment - £10
Ohmydosh - Faster Payouts but less offers
Ref - Extra £1
Non-Ref - No reward
Minimum payout - Any
Cashback Earners - A lesser known site in need of a fresh look, this site also has some bad reviews, referal income is paid to the site on a monthly basis with the dates for each site being different, offers don't seem to show as tracked until the website receive their payment, cashback should appear in your account within 1 month of completing an offer. Cashout amounts are specific, its best to build up a balance and then withdraw. Payment takes around 3 weeks.
Ref - Sign up bonus £6.5
Non-Ref - Sign up bonus £6.5
Minimum payout is £20
Payment Proof - Payments for all sites can be seen here, quidco isn't shown as i have signed up for all the casinos on offer through topcashback

How to Maximize Profit - IMPORTANT - READ THIS

For the majority of these offers you want to play blackjack following the chart found here
Any blackjack game will do, look for a normal version of the game at the site you are playing on and make sure it is a non live game as the hand sizes will be lower.
When playing blackjack there will often be more than one spot that you can bet on, allowing the player to bet more than one hand at a time, Its important to only bet on one spot at a time as it reduces the variance of the game and will ensure you get the maximum return possible from the game, stick to £1 hand sizes when playing and dont be tempted to bet larger amounts as you will be getting a nice amount of cashback from every offer
Through playing blackjack this way the player will get a return of around 98%, meaning for every £100 staked you will lose around £2. If you make a loss on a casino site after completing the required wagering amount, withdraw your remaining balance, don't chase loses as the cashback will make up for loses and give you a profit in most cases.
All offers are updated fairly regularly, make sure to check the terms for each offer as information in this post may become outdated. Also check for other offers every now and then as new casinos are added!

TopCashBack Offers - £400+ Profit

Topcashback Referral - Get an extra £5 - See the Ref Link at the top of the page!
If you dont already have an account at top cashback, you can sign up through my referral to get an extra £5 added to you account once you make £10 cashback
Lottoland - Cashback £15
Add £11 and play 11 separate £1 hands, following the strategy outlined at the top of the post, withdraw any remaining balance.
Betfair Casino - Cashback £70
Note this is not the poker offer
Add £50 to your account and play 50 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Quidco are offering £100 for this offer
Party Casino - Cashback £26.5
Deposit and play 30 single £1 hand son blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Tombola - Cashback £24.5
Deposit £10 and open the tombola roulette game, choose a £1 chip size and choose 5 spots, repeat this twice, withdraw any remaining balance, you will likely lose money here but the cashback will give you a profit
Coral - Cashback £46
Add £10 and play 10 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Bingoport - Cashback £3
Sign up to bingoport to get an easy £3
Ladbrokes - Cashback £42
Add £10 to your account and play 10 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Pokerstars - Cashback £32
Add £25 and play 25 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
STS - Cashback £21
Add £30 to your account and play 30 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
William Hill - Cashback £54
add £25 and play 25 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Megacasino - £15.75
Add £25 - Play 25 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
LottoGo - Cashback £3.18
Buy a euromillions ticket
Slingo - Cashback £24.75
Add £10 play 10 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
PaddyPower Games - Cashback £20
Add £10 play 10 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
The Football Pools - Cashback £24.75
Sign up for the £10 a month subscription, cancel this after 30 days
Lottomart - Cashback £18
Add £10 - Play 10 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Genting Slots - Cashback £25
Add £30 play 30 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
OhMyDosh - Cashback £40+
Referral gives an extra £1, sign up through the ref link at the top of the post to get the bonus!
Gala Bingo - Cashback £17.50
Deposit at least £5, you'll get a £10 slots bonus and 100 free spins, these carry hefty wagering requirements, Open any slot and play the minimum spin size, play until you lose all of the money in your account or complete the wagering requirements on the bonus funds. Withdraw any remaining balance.
BGO - £10 Cashback
Deposit at least £15. Play 15 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance. DONT ACCEPT the welcome bonus from BGO.
Lottosocial - Cashback £4
Sign up to Lotto Social - Use your correct phone number when joining as it is the only way to login to your account. Purchase 10 lines for £1, after making a purchase go to your account page and find the list of syndicates your are in, leave the syndicates to avoid making any more payments.
Cheeky Bingo - £10 Cashback
Deposit £10 and get a £40 welcome bonus, just play bingo with all of your funds and hope to get some wins, bonus has 4x wagering requirements.

Quidco - Cashback £100+

Quidco don't offer a sign up bonus, find my ref link at the top of the post if you want to help me out!
All of the offers on quidco are much the same as topcashback, the only offer worth noting is the betfair casino offer which pays £100
Betfair - £100 cashback
Add £100 and play 100 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.

Cashbackearners - Cashback £180+

Sign up Bonus
Get a £6.5 sign up bonus, think this works with or without the ref link, links are at the top of the post!
To find these offers just search for casino on the site.
All of these offers state that you only need to make a deposit, its best to play through the deposit 1x to ensure that the cashback is paid.
LuckyMeSlots - Cashback £15
Add £15 and play 15 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Spin Genie - Cashback £12.5
Add £12.5 and play 12.5 £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Cashmo - Cashback £10
Add £10 and play through £10 on any slot staking the minimum amount per spin. Don't spin the wheel that pops up after signing up or accept any other bonuses.
Ice36 -Cashback £15
Add £15 and play 15 £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Spinhill Casino - Cashback £15
Add £15 and play 15 £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Galacasino - Cashback £30
add £30 and play 30 £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Casino765 - Cashback £12.5
Add £12.5 and play 12.5 £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Casinosuperwins - Not recommended, bad site, awful support
Casino2020 - Cashback £15
Add £15 and play through £15 on any slot staking the minimum amount per spin. Keep track of spins and quit the slot after wagering the required amount. Don't spin the wheel that pops up after signing up or accept any other bonuses.
Pocketwin - Cashback £10
Add £10 and play through £10 on any slot staking the minimum amount per spin. Keep track of spins and quit the slot after wagering the required amount. Don't spin the wheel that pops up after signing up or accept any other bonuses.
The Sun Vegas - Cashback £15
Add £15 and play 15 £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
DrSlot - Cashback £10
Add £10 and play through £10 on any slot staking the minimum amount per spin. Keep track of spins and quit the slot after wagering the required amount. Don't spin the wheel that pops up after signing up or accept any other bonuses.
MrSpin - Cashback £10
Add £10 and play through £10 on any slot staking the minimum amount per spin. Keep track of spins and quit the slot after wagering the required amount. Don't spin the wheel that pops up after signing up or accept any other bonuses.
PrimeCasino - Cashback £15
Add £15 and play 15 £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
ConquestAdor - Cashback £10
Add £10 play 10 £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
MFortune - Cashback £10
Add £10 and play through £10 on any slot staking the minimum amount per spin. Keep track of spins and quit the slot after wagering the required amount. Don't spin the wheel that pops up after signing up or accept any other bonuses.
Thanks for reading, hope this of use to some people, happy earning!
submitted by Leth96 to beermoneyuk [link] [comments]

I want to make a casino Heist

I want my players to go through and plan a heist in a casino, the only problem is I have no clue how to set this up. I am planning on making my own map for the casino using these assets as the base: https://marketplace.roll20.net/browse/set/1806/casino-gaming-floor-pack
The target of the heist is to rescue 3 hostages spread out through the bottom floor and an undisclosed magical item hidden at the top in the owner's office. The magical item is a monocle that vastly increases the wearer's wisdom (to about 26) but after being in touch with the object for a week the wearer is corrupted and becomes evil and desiring power (this is a running trend throughout the items my party is sent to retrieve throughout their adventure each item increases a different stat).
The origin of the Casino is that it used to be a random casino in the middle of a nowhere town when a beholder decided to make the town it's home base. with the assistance of the magical monocle, he is able to cheat his way through the casino until he wins a bet with the owner in which he wins the casino.
I am undecided if the heist will take place through the whole town or just in the casino, seeing as I have limited time though probably just the casino. Sae Nijjima's Palace from Persona 5 would be a huge inspiration to the layout of the casino.
The party's level is 5 and there are only 3 members so I DO NOT want them to fight the beholder, if they get into an encounter with the beholder he agrees to play a game of chance for the item/hostages, being either a rigged game of poker where the party has to cheat in creative ways to win or a game of Russian Roulette (by a different name as Russia does not exist or with a different reason for the name like Russia being the last name of the person who invented it).
Sorry for anything that does not make sense or is written badly as this was more of a brain vomit rather than a well-written thing. if you want any more details I will answer in the comments.
Some specific questions: What should I add to make this Heist feel like a heist movie? How should I set up and do guard patrol? How should I protect the objectives? I have the backstory ready but don't know what to do for the story that unfolds while they are going through, any ideas?
submitted by legofanman06 to DMAcademy [link] [comments]

Bovada interestingly pays significantly more rewards points for TRUE ODDS parlays vs straight sports bets.

https://www.bovada.lv/contents/rewards
2500 points = $1
When earning points, there's a multiplier, depending on the game. For some games, even ones with moderately high house edges like roulette, it's 1x ($1 bet earns you 1 point). Not good. For straight sports bets, it's 3x. Meh. But for parlays, it's 25x!
And even though it's in the title, I'm gonna need to say this, because I know some people right now are screaming "Because they're parlays dude! That's why! They're horrible!" Nope, not true, at least not at Bovada. And from what I understand/assume, most online sportsbooks. (I'd be curious to know how many sportsbooks still butcher their parlays.) They pay exactly the same as if you bet at -110 and let it ride over and over. In the end it's the same ~5% house edge, you are simply increasing volatility (drastically, I might add, which I'm aware can ruin you, but that's not the point here). Another example of these butchered parlays, is your typical 5 team parlay. At Bovada (and probably most online sportsbooks), it pays almost 25:1. Yet go Google "what does a 5 team parlay pay" and you will get answers like 20:1.
Also, in general, these rewards are better than they look. Which they look like this... Sports pays 3x, and 2500 points is $1. So it requires $833 of bets to earn $1. "That's awful!" Except you're not spending $833, you're gambling it; the vast majority of that $833 will be returned to you. So let's multiply that $833 by 5% (roughly the house edge of sports betting and roulette) = only $42?! Yup, $833 is really $42 truly spent... So they're giving you $1 back for every $42 you're projected to lose. That's not insignificant, and is on par with other reward programs in life, such as your credit card. But still, $1 for $42 is not that great. OK well that's just regular sports bets that are 3x. Parlays are 25x the points (733% more points than straight bets, a shocking difference, thus why I made this thread), so now we're talking about getting $1 for every $5 you're projected to lose. Keyword projected, as you will be paid whether you win or lose. So mathematically, parlays pay 20% of the house edge back to you at Bovada, whereas straight sports bets only pay 2.4%. That's a considerable amount of house edge removed to consider playing more parlays, despite the variance.
Kind of strange if you ask me. Like the reason you still might not want to bet parlays, despite the lower effective house edge, is the swings. Agreed. OK, but swings don't affect the casino, so what reason would they offer this? It doesn't make them more money. Not unless the average person bets literally 9x as much when they bet parlays. Which obviously isn't true. So they're encouraging people to play parlays, giving them 8x the rewards, why?
submitted by BastardsDoing90 to gambling [link] [comments]

DraftKings (NASDAQ: DKNG) - Deep Dive Research - Part 1

TL:DR
Hello, welcome to my first deep dive write up.
My name’s Mark and I’m an accountant with a passion for investing. About two years ago, I used to work as an auditor at a public accounting firm and have been behind the scenes at many different publicly traded and privately held companies in the U.S. My goal is to bring my unique perspective from that past experience, my current experience working in a new role at a large corporation, and my understanding of accounting to help break down some of the most exciting growth stocks on the market today.
I’m a long-term investor. I am focused on finding great companies and holding them for a long time. I’m willing to endure volatility, crazy price drops, and everything that comes with this approach as long as the facts that led me to originally invest and believe in that company have not changed. If you want to learn more about this approach. I recommend reading the book “100 Baggers” by Chris Mayer.
Introduction
I think it’s fitting that my first stock pick has to do with sports. Sports has been a part of my life since I could walk at the age of 2. First with baseball and soccer, and then later in my childhood with golf. I’ve always played American football and basketball for fun as well and have always been an avid fan of all the major sports in the US.
I started playing fantasy sports (mostly just fantasy football) about 6 years ago and have always enjoyed it. Traditionally, with fantasy football you draft a team at the beginning of the year and those are your players for the rest of the season. If you have a bad draft, oh well. You can try to improve your team with trades and free agent additions but it is tough. Leagues usually consist of 10-14 teams (each managed by an individual) and there’s obviously only one winner at the end of the season (about 4 months after the draft). This can lead to the managers of the lower performing teams losing interest as the season wanes on. I believe DraftKings’ (DK) founders saw this issue and saw an opportunity. Enter, daily fantasy sports. Now, with the DK platform you can draft a new team every week. Or if you want, every day. This allows fans of fantasy sports to engage at whichever point of the season they want and at varying financial stakes.
The Thesis Statement
For every stock pick I make, I want to provide a quick thesis statement that can serve as a reminder for why I’m buying and holding that stock for the long term. I’ll always aim to make it just a few sentences long so it can easily be remembered and internalized. This helps during times when the price may sporadically drop and you need to remember why you’re holding this position.
The thesis statement I have come up with for DK is as follows:
“DraftKings: The leader in allowing fans to engage financially with their favorite sports, teams, and players. Having money at stake makes the game a lot more interesting to watch. The era of daily fantasy sports games, online sports betting, and online betting (outside of sports), is just getting started and DK is as well positioned (or better positioned) than anyone to capitalize off of this trend.”
Notice how I said “allowing fans to engage financially” as the first sentence and not necessarily “allowing fans to gamble”. There’s a reason for that. According to US Federal Law, Daily Fantasy Sports (DFS) contests have specifically been exempted from the prohibitions of the Unlawful Internet Gambling Enforcement Act (UIGEA). DK has always been, and I believe will continue to be DFS contests 1st, sports betting 2nd, and other forms of gambling/entertainment 3rd. It is noteworthy that states at an individual level can still deem DFS contests illegal if they so wish, but as of this writing (11/26/20), 43 of the 50 US States allow DFS contests and DK, accordingly, is offering DFS contests in all 43 of those US States.
I’ll try to clarify the difference between DFS contests and sports betting real quick:
DFS Contest – Pay a pre-set entry fee to enter a contest. All entry fees go towards “The Pot”. “Draft” 9 players to be on your “Team” for 1 week. Enter your “Roster” into a contest with other players (could range from 1 other person to 1,000s of people, the DK user can choose). Whichever “Roster” amasses the most points for that week out of all contestants wins. The winner will get the highest payout, and depending on the nature of the contest, other top finishers will receive smaller payouts as well.
Sports Gambling – Team A is considered a 10 point favorite to defeat Team B. This means that Team A is expected, by the professional gambling line setters, to outscore Team B by 10 points. This is known as a point spread. You can bet on the underdog or the favorite. If you bet on the favorite, they have to win by more than 10 points for you to win the bet. If you bet on the underdog, you will win the bet as long as the underdog keeps the game within less than a 10 point defeat.
These are just a couple simple examples to help you see the difference. Sports Gambling (the 2nd priority of DK) is a very lucrative market just as the DFS contests are. However, in the US, Federal Laws and regulations are a lot stricter on Sports Gambling than they are on DFS. As of this writing (11/27/20), 22 states (including the District of Columbia) out of 51 possible allow sports gambling.
DK is still in the infancy stages of getting their sports gambling business going. In the 22 states where they could potentially operate, they currently have a sports gambling offering in 11 of those states. The sports gambling business model for DK can be broken into two main offerings – mobile sports betting, and retail sports betting. Mobile sports betting means you can place a sports bet online from the comfort of your own home, while retail sports betting means you must go to a casino and place a bet with the sportsbook in person. I personally believe mobile sports betting is the real potential cash cow for DK out of the two types of sports betting offerings due to the convenience and ease of access. DK is currently working on and encouraging customers to lobby their state lawmakers to legalize sports gambling in more states.
How DK makes money
At the very least, before you invest in a company, you better understand how they make money. In Chris Mayers’ excellent book, 100 Baggers, that I mentioned above, he continually references top line revenue growth as one of the main common indicators of a possible 100 Bagger. This isn’t to tell you that any stock I pick will be a 100 Bagger just because it has great top line revenue growth, but if I am looking at a growth stock to hold for the long term, revenue growth is one of the first things I look at.
For DK, their means of making money is quite simple. I already went into detail above about DFS Contests and Sports Gambling. In DK’s latest 10-Q filing with the SEC (filed 11/13/20), revenue is broken out into two main streams: Online Gaming and Gaming Software.
Online Gaming (82% of Total Revenue for 9 months ended 9/30/20):
Online gaming is the true core business of DK and includes the aforementioned DFS Contests, Sports Gambling and additional gambling (non-sports) opportunities. DK refers to their additional gambling (non-sports) as “iGaming” or “online casino”.
For the 9 months ended 9/30/20, Online Gaming revenue totaled $239M, up 30% YoY from $184M in the same prior year period. Keep in mind, that this is an increase that happened during a COVID-19 global pandemic that delayed and shortened many professional sports seasons.
Online gaming revenue is earned in a few ways that are slightly different, but very similar overall. In order to enter a DFS contest, a customer must pay an entry fee. DFS revenue is generated from these entry fees collected, net of prize payouts and customer incentives awarded to users. In order to place a sports bet (sports gambling), a customer places a wager with a DK Sportsbook. The DK Sportsbook sets odds for each wager that builds in a theoretical margin allowing DK to profit. Sports gambling revenue is generated from wagers collected from customers, net of payouts and incentives awarded to winning customers. The last form of online gaming revenue is earned in similar fashion to a land-based casino, offering online versions of casino games such as blackjack, roulette, and slot machines.
Gaming Software (18% of Total Revenue for 9 months ended 9/30/20):
While the Online Gaming revenue stream mentioned above is a Business to Consumer (B2C) model, the Gaming Software revenue stream is a Business to Business (B2B) model. The Gaming Software side of the business was born out of the acquisition of SBTech, a company from the Isle of Man (near the UK) founded in 2007 that has 12+ years of experience providing online sports betting platforms to clients all over the world. The acquisition occurred as part of the SPAC driven IPO in April of 2020 that combined “the old DK company” with SBTech so that they now are “the new DK company” listed as DKNG on the NASDAQ. SBTech is a far more important part of the story than just being 18% of today’s revenue. The reason for this is because DK will eventually (planned mid-late 2021) be migrating all of their DFS and gambling offerings onto SBTech’s online platforms. Currently, for DFS, DK uses their own proprietary platform but that will move to SBTech with the migration. Currently, for online gambling, DK uses Kambi, the same online gambling platform that services Penn Gaming (PENN), a DK rival. But that’s enough about the software migration for now, back to the Gaming Software revenue.
The Gaming Software revenue stream for DK is essentially a continuation of SBTechs’ B2B business model. DK contracts with business customers to provide sports and casino betting software solutions. DK typically enters two different type of arrangements with B2B customers when selling the gaming software:
  1. Direct Customer Contract Revenue: In this type of transaction, the software is sold directly to a business (casino for example) that wants to use the software for their own gambling operations. This revenue is generally calculated as a percentage of the wagering revenue generated by the business customer using DK’s software and is recognized in the periods in which those wagering and related activities conclude.
  2. Reseller Arrangement Revenue: In this type of transaction, DK provides distributors with the right to resell DK’s software-as-a-service offering to their clients, using their own infrastructure. In reseller arrangements, revenue is generally calculated via a fixed monthly fee and an additional monthly fee which varies based on the number of gaming operators to whom each reseller sub-licenses DK’s software.
As mentioned above, SBTech was an international company based in the Isle of Man before being acquired by DK. Thus, the majority of their business in their first 12 years of operating independently has always been international and outside of the United States. This has helped DK, which has historically been US focused, expand it’s international reach.
A perfect example of expanding this international reach occurred recently during October (technically Q4) in which DK’s B2B technology (powered by SBTech) helped enable the launch of “PalaceBet”, a new mobile and online sportsbook offering from Peermont, a South Africa based resort and casino company. The deal was headed by DK’s new Chief International Officer, Shay Berka, who previously spent 10 years working for SBTech as CFO and General Manager. Mr. Berka took on the role of DK’s Chief International Officer upon the merger in April earlier this year. I think this deal shows that DK has integrated SBTech and it’s business very well into the larger business as a whole. They are not wasting any time using their newly acquired resources to expand their reach and bring in new sources of revenue.
This is the end of my first article about DK. My goal is to drop Part 2 later this week. The focus of Part 2 will be an in depth answer of the question – “Can we 10x from here?”
Disclosure: I am/we are long DKNG. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
submitted by Historical-Comment36 to SecurityAnalysis [link] [comments]

DraftKings (NASDAQ: DKNG) - Deep Dive Research - Part 1

TL:DR
Hello, welcome to my first deep dive write up.
My name’s Mark and I’m an accountant with a passion for investing. About two years ago, I used to work as an auditor at a public accounting firm and have been behind the scenes at many different publicly traded and privately held companies in the U.S. My goal is to bring my unique perspective from that past experience, my current experience working in a new role at a large corporation, and my understanding of accounting to help break down some of the most exciting growth stocks on the market today.
I’m a long-term investor. I am focused on finding great companies and holding them for a long time. I’m willing to endure volatility, crazy price drops, and everything that comes with this approach as long as the facts that led me to originally invest and believe in that company have not changed. If you want to learn more about this approach. I recommend reading the book “100 Baggers” by Chris Mayer.
Introduction
I think it’s fitting that my first stock pick has to do with sports. Sports has been a part of my life since I could walk at the age of 2. First with baseball and soccer, and then later in my childhood with golf. I’ve always played American football and basketball for fun as well and have always been an avid fan of all the major sports in the US.
I started playing fantasy sports (mostly just fantasy football) about 6 years ago and have always enjoyed it. Traditionally, with fantasy football you draft a team at the beginning of the year and those are your players for the rest of the season. If you have a bad draft, oh well. You can try to improve your team with trades and free agent additions but it is tough. Leagues usually consist of 10-14 teams (each managed by an individual) and there’s obviously only one winner at the end of the season (about 4 months after the draft). This can lead to the managers of the lower performing teams losing interest as the season wanes on. I believe DraftKings’ (DK) founders saw this issue and saw an opportunity. Enter, daily fantasy sports. Now, with the DK platform you can draft a new team every week. Or if you want, every day. This allows fans of fantasy sports to engage at whichever point of the season they want and at varying financial stakes.
The Thesis Statement
For every stock pick I make, I want to provide a quick thesis statement that can serve as a reminder for why I’m buying and holding that stock for the long term. I’ll always aim to make it just a few sentences long so it can easily be remembered and internalized. This helps during times when the price may sporadically drop and you need to remember why you’re holding this position.
The thesis statement I have come up with for DK is as follows:
“DraftKings: The leader in allowing fans to engage financially with their favorite sports, teams, and players. Having money at stake makes the game a lot more interesting to watch. The era of daily fantasy sports games, online sports betting, and online betting (outside of sports), is just getting started and DK is as well positioned (or better positioned) than anyone to capitalize off of this trend.”
Notice how I said “allowing fans to engage financially” as the first sentence and not necessarily “allowing fans to gamble”. There’s a reason for that. According to US Federal Law, Daily Fantasy Sports (DFS) contests have specifically been exempted from the prohibitions of the Unlawful Internet Gambling Enforcement Act (UIGEA). DK has always been, and I believe will continue to be DFS contests 1st, sports betting 2nd, and other forms of gambling/entertainment 3rd. It is noteworthy that states at an individual level can still deem DFS contests illegal if they so wish, but as of this writing (11/26/20), 43 of the 50 US States allow DFS contests and DK, accordingly, is offering DFS contests in all 43 of those US States.
I’ll try to clarify the difference between DFS contests and sports betting real quick:
DFS Contest – Pay a pre-set entry fee to enter a contest. All entry fees go towards “The Pot”. “Draft” 9 players to be on your “Team” for 1 week. Enter your “Roster” into a contest with other players (could range from 1 other person to 1,000s of people, the DK user can choose). Whichever “Roster” amasses the most points for that week out of all contestants wins. The winner will get the highest payout, and depending on the nature of the contest, other top finishers will receive smaller payouts as well.
Sports Gambling – Team A is considered a 10 point favorite to defeat Team B. This means that Team A is expected, by the professional gambling line setters, to outscore Team B by 10 points. This is known as a point spread. You can bet on the underdog or the favorite. If you bet on the favorite, they have to win by more than 10 points for you to win the bet. If you bet on the underdog, you will win the bet as long as the underdog keeps the game within less than a 10 point defeat.
These are just a couple simple examples to help you see the difference. Sports Gambling (the 2nd priority of DK) is a very lucrative market just as the DFS contests are. However, in the US, Federal Laws and regulations are a lot stricter on Sports Gambling than they are on DFS. As of this writing (11/27/20), 22 states (including the District of Columbia) out of 51 possible allow sports gambling.
DK is still in the infancy stages of getting their sports gambling business going. In the 22 states where they could potentially operate, they currently have a sports gambling offering in 11 of those states. The sports gambling business model for DK can be broken into two main offerings – mobile sports betting, and retail sports betting. Mobile sports betting means you can place a sports bet online from the comfort of your own home, while retail sports betting means you must go to a casino and place a bet with the sportsbook in person. I personally believe mobile sports betting is the real potential cash cow for DK out of the two types of sports betting offerings due to the convenience and ease of access. DK is currently working on and encouraging customers to lobby their state lawmakers to legalize sports gambling in more states.
How DK makes money
At the very least, before you invest in a company, you better understand how they make money. In Chris Mayers’ excellent book, 100 Baggers, that I mentioned above, he continually references top line revenue growth as one of the main common indicators of a possible 100 Bagger. This isn’t to tell you that any stock I pick will be a 100 Bagger just because it has great top line revenue growth, but if I am looking at a growth stock to hold for the long term, revenue growth is one of the first things I look at.
For DK, their means of making money is quite simple. I already went into detail above about DFS Contests and Sports Gambling. In DK’s latest 10-Q filing with the SEC (filed 11/13/20), revenue is broken out into two main streams: Online Gaming and Gaming Software.
Online Gaming (82% of Total Revenue for 9 months ended 9/30/20):
Online gaming is the true core business of DK and includes the aforementioned DFS Contests, Sports Gambling and additional gambling (non-sports) opportunities. DK refers to their additional gambling (non-sports) as “iGaming” or “online casino”.
For the 9 months ended 9/30/20, Online Gaming revenue totaled $239M, up 30% YoY from $184M in the same prior year period. Keep in mind, that this is an increase that happened during a COVID-19 global pandemic that delayed and shortened many professional sports seasons.
Online gaming revenue is earned in a few ways that are slightly different, but very similar overall. In order to enter a DFS contest, a customer must pay an entry fee. DFS revenue is generated from these entry fees collected, net of prize payouts and customer incentives awarded to users. In order to place a sports bet (sports gambling), a customer places a wager with a DK Sportsbook. The DK Sportsbook sets odds for each wager that builds in a theoretical margin allowing DK to profit. Sports gambling revenue is generated from wagers collected from customers, net of payouts and incentives awarded to winning customers. The last form of online gaming revenue is earned in similar fashion to a land-based casino, offering online versions of casino games such as blackjack, roulette, and slot machines.
Gaming Software (18% of Total Revenue for 9 months ended 9/30/20):
While the Online Gaming revenue stream mentioned above is a Business to Consumer (B2C) model, the Gaming Software revenue stream is a Business to Business (B2B) model. The Gaming Software side of the business was born out of the acquisition of SBTech, a company from the Isle of Man (near the UK) founded in 2007 that has 12+ years of experience providing online sports betting platforms to clients all over the world. The acquisition occurred as part of the SPAC driven IPO in April of 2020 that combined “the old DK company” with SBTech so that they now are “the new DK company” listed as DKNG on the NASDAQ. SBTech is a far more important part of the story than just being 18% of today’s revenue. The reason for this is because DK will eventually (planned mid-late 2021) be migrating all of their DFS and gambling offerings onto SBTech’s online platforms. Currently, for DFS, DK uses their own proprietary platform but that will move to SBTech with the migration. Currently, for online gambling, DK uses Kambi, the same online gambling platform that services Penn Gaming (PENN), a DK rival. But that’s enough about the software migration for now, back to the Gaming Software revenue.
The Gaming Software revenue stream for DK is essentially a continuation of SBTechs’ B2B business model. DK contracts with business customers to provide sports and casino betting software solutions. DK typically enters two different type of arrangements with B2B customers when selling the gaming software:

  1. Direct Customer Contract Revenue: In this type of transaction, the software is sold directly to a business (casino for example) that wants to use the software for their own gambling operations. This revenue is generally calculated as a percentage of the wagering revenue generated by the business customer using DK’s software and is recognized in the periods in which those wagering and related activities conclude.
  2. Reseller Arrangement Revenue: In this type of transaction, DK provides distributors with the right to resell DK’s software-as-a-service offering to their clients, using their own infrastructure. In reseller arrangements, revenue is generally calculated via a fixed monthly fee and an additional monthly fee which varies based on the number of gaming operators to whom each reseller sub-licenses DK’s software.
As mentioned above, SBTech was an international company based in the Isle of Man before being acquired by DK. Thus, the majority of their business in their first 12 years of operating independently has always been international and outside of the United States. This has helped DK, which has historically been US focused, expand it’s international reach.
A perfect example of expanding this international reach occurred recently during October (technically Q4) in which DK’s B2B technology (powered by SBTech) helped enable the launch of “PalaceBet”, a new mobile and online sportsbook offering from Peermont, a South Africa based resort and casino company. The deal was headed by DK’s new Chief International Officer, Shay Berka, who previously spent 10 years working for SBTech as CFO and General Manager. Mr. Berka took on the role of DK’s Chief International Officer upon the merger in April earlier this year. I think this deal shows that DK has integrated SBTech and it’s business very well into the larger business as a whole. They are not wasting any time using their newly acquired resources to expand their reach and bring in new sources of revenue.
This is the end of my first article about DK. My goal is to drop Part 2 later this week. The focus of Part 2 will be an in depth answer of the question – “Can we 10x from here?”
Disclosure: I am/we are long DKNG. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
submitted by Historical-Comment36 to investing [link] [comments]

I want to create a heist. but don't know how

I want my players to go through and plan a heist in a casino, the only problem is I have no clue how to set this up. I am planning on making my own map for the casino using these assets as the base: https://marketplace.roll20.net/browse/set/1806/casino-gaming-floor-pack
The target of the heist is to rescue 3 hostages spread out through the bottom floor and an undisclosed magical item hidden at the top in the owner's office. The magical item is a monocle that vastly increases the wearer's wisdom (to about 26) but after being in touch with the object for a week the wearer is corrupted and becomes evil and desiring power (this is a running trend throughout the items my party is sent to retrieve throughout their adventure each item increases a different stat).
The origin of the Casino is that it used to be a random casino in the middle of a nowhere town when a beholder decided to make the town it's home base. with the assistance of the magical monocle, he is able to cheat his way through the casino until he wins a bet with the owner in which he wins the casino.
I am undecided if the heist will take place through the whole town or just in the casino, seeing as I have limited time though probably just the casino. Sae Nijjima's Palace from Persona 5 would be a huge inspiration to the layout of the casino.
The party's level is 5 and there are only 3 members so I DO NOT want them to fight the beholder, if they get into an encounter with the beholder he agrees to play a game of chance for the item/hostages, being either a rigged game of poker where the party has to cheat in creative ways to win or a game of Russian Roulette (by a different name as Russia does not exist or with a different reason for the name like Russia being the last name of the person who invented it).
Sorry for anything that does not make sense or is written badly as this was more of a brain vomit rather than a well-written thing. if you want any more details I will answer in the comments.
What should I add to make this Heist feel like a heist movie? How should I set up and do guard patrol? How should I protect the objectives? I have the backstory ready but don't know what to do for the story that unfolds while they are going through, any ideas?
submitted by legofanman06 to DnD [link] [comments]

I live in a small mining town in the mountains of Colorado. Someone is building a massive casino nearby, Pictures Included

I grew up in a small mountain town named Eureka. It was founded in the late 1800s during the gold rush, but after the mines dried up the town began its slow descent into decay. Half the houses are empty or abandoned now.
You can see a picture of the kind of houses here in Eureka:
Abandoned House
Non-abandoned House
When a massive construction project began nearby, it was the talk of the town for weeks. Why would they build something in a sleepy dying town like Eureka? It wasn’t until my sister Selene talked to a few construction workers that we discovered they were building a casino.
A casino up in the mountains, over two hours away from Denver. None of us could understand why they’d chosen here of all places. After a few months of work, the casino was done.
I took a picture of the town with the completed casino in the background to the right. The ten-story-structure sticks out like a sore thumb off in the distance.
Town+Casino
After the casino opened, they hired a few dozen members of the town, offering high paying jobs to work as dealers or cleaning staff. I was already employed as a firefighter, but my sister Selene got a job as a blackjack dealer. She’s a widow with two young kids, so the paycheck was a real lifesaver.
Still, something about the situation seemed too good to be true. The jobs over there paid far too well, and the management was far too accommodating. The fire station where I work is located high on a hill overlooking the town, so I began watching the casino from a distance each day.
I had initially thought that the casino was located in a terrible location, but I was apparently wrong. True, Eureka was hours from any major city, but despite that, a bus full of people arrived every morning and left every evening.
One night I was over at my parent’s house and had dinner with Selene and her kids. I asked her about her experience as a dealer.
“It’s Ok,” she said. “Just a little boring I guess.”
“Boring?” I asked. “I’m surprised you don’t have your hands full.”
“Why’s that?” she asked. “It’s like you said, Eureka’s too small. I never have people playing cards. The casino is almost always completely empty.”
I wasn’t sure what to make of that. If the place was always empty, what happened to the people who I’d seen arriving on buses? “I’ve been keeping an eye on the building,” I said. “A bus full of people typically arrives around 9 AM every day.”
“Really?” she asked, looking confused. “If that’s true, I’ve never seen them.
“I can see it from the fire station,” I said. “If you head out for a smoke break at 9 AM, you’ll probably see them arriving.”
“Interesting,” she said. “I’ll do that. If they’re being processed for their organs or something, I’ll let you know.” She laughed.
“Har har,” I said sarcastically.
The next night she sent me a text calling me over. When I arrived, she was nearly breathless with excitement.
“Orin, You were right,” she said. “A big group of people did arrive, but they didn’t walk into my part of the casino. Instead, they all walked into an elevator at the back of the building. I’m not sure where that goes.” She looked thoughtful. “It was weird. They looked… How can I say it? Desperate? Something about the whole situation was very off. I’m gonna check out the elevator tomorrow.”
I told her to be careful, though, to be honest, I was excited to hear about what she discovered. When I visited my parent’s house the next night, I found her two kids there alone. They told me that Selene had never returned from work.
I called all her friends, then all our neighbors, but no one had seen her since she left for work that morning. Our conversations regarding the casino flooded my mind, then a plan began to form.
Early the next morning I walked across town in my nicest pair of jeans and a button-up shirt. I pushed through the door to the casino and saw that Selene wasn’t lying. The place was all but deserted. Three dozen slot machines crowded the walls surrounding a few tables interspersed throughout the floor of the casino. The only players in the whole building were Bob and Donald, two locals.
I walked up to a nearby table where Bridget, a girl I’d gone to high school with, was shuffling cards. She broke into a grin when she saw me. “Hey Orin, you here for a few rounds of blackjack?”
“I wish,” I said. “No, I’m here to ask about Selene. She never made it home last night.”
Bridget’s expression darkened. “Really? Have you asked around?”
“I already called around. Have you seen her?”
She shook her head. “No, our schedules rarely line up. I’ll be sure to let you know if I--” Her eyes focused on something behind me, and she cut herself off.
I turned around to see the casino’s pit boss watching us both. He was a tall thin man in an impeccably clean black suit. When I turned back towards Bridget, she was looking down at the table and shuffling cards absent-mindedly.
“Well, if you hear anything, let me know,” I said.
She nodded, so I turned around and headed for the pit boss. I stuck out my hand. The temperature of his hand was so hot that I had to pull my hand away after a few seconds.
“Have… have you seen my sister Selene?” I asked. “She hasn’t been seen since her shift here yesterday.”
He smiled. “Sir, this floor is for players. You’re more than welcome to head to the tellers for chips, but barring that I’m afraid I’ll have to ask you to leave.”
I stared at him for a long second before stalking towards the door. When I looked back, he was talking with Bridget.
I checked my watch. 8:55 AM, just as I’d planned. I walked around the back of the building and waited as the morning bus pulled around the building. I waited for the telltale hiss of the opening doors and the sound of people descending before I rounded the corner and joined the crowd. None of them paid any particular attention to me as I walked with them into the casino.
The crowd walked through a side door down a hallway to an elevator. Small groups of people entered the elevator as the rest of us waited for our turn. I shot a glance at the casino patrons, surprised at their diversity. There seemed to be people from all different countries and ethnicities. I heard one speaking Japanese and another speaking what sounded like an African language.
My turn came along with a few other patrons in the elevator. A sickly woman hobbled into the elevator beside me carrying an IV that was still connected to one of her veins. We piled in and rode up to the top.
The elevator rose for a few long seconds. I wasn’t sure what I would find, but I steeled myself for something horrible. The elevator’s speaker let out a TING, then the doors opened.
We all walked out onto what looked like a standard casino. Another few dozen slot machines ringed the walls, but on this floor, they were almost all occupied by customers. I took in the scene, confused at why they’d have a ground floor that was almost completely empty when this place was almost--
Selene was dealing cards at a nearby table.
I jogged over and sat down at an open seat. None of the players around me paid me much attention.
“Selene!” I said. “Are you OK? Did you spend the night here last night?”
Her eyes were glassy and confused. She looked up at me with a dumb expression and didn’t respond to my question.
“Selene?” I asked.
“What’s your bet?” she asked me. “This table is for blackjack players only.”
“I…” I trailed off, looking at the players around me. None of them were betting with chips of any kind. “What’s the minimum bet?” I asked.
“Three years,” she responded.
“Three years then,” I said, not knowing what that referred to.
Selene nodded, then began dealing cards. I shot a look down at my hand. King and a 9. Selene dealt out cards for herself, showing a 9. I stood, then leaned forward again. “Should I call the police? Are you--”
“Congratulations,” she said tonelessly.
An almost impossibly warm hand grabbed my shoulder. I spun to see the pit boss I’d spoken to earlier. He gave an impressed smile. “Orin, was it? I’m impressed, truly. Would you mind if I had a word with you?”
I shot a look back at Selene who was dealing the next round of cards. Then I got to my feet, balling my hands into fists. “What did you do to her?”
The pit boss clasped his hands behind his back. “Nothing more, and nothing less than what I’m going to do to you. That is, offer you the chance to play.”
“What the hell is that supposed to mean?”
The pit boss nodded his head towards a nearby slot machine. A woman in a wheelchair pulled a lever and watched the flashing numbers spin. They exploded in a cacophony of sirens and flashing lights. “WINNER WINNER WINNER!” The machine screeched.
The woman in the wheelchair put her feet on the ground and stood up on a pair of wobbly legs that had clearly never been used before.
“As in any other casino,” the pit boss said, “you must wager for the chance to win.”
“She... won the use of her legs?” I asked, feeling light-headed. “Wait,” I said. “I played blackjack just now. ‘Three years,’ Selene told me. What does ‘three years’ mean?” I asked.
“Three years of life, of course. Did you win?”
My mouth felt dry. “I-- Yes, I won.”
He smiled warmly. “Congratulations. I hope you enjoy them. I can tell you from personal experience that watching the decades pass is a bore. Give it some time and you’ll be back to spend them.”
I watched the pit boss’s face. He couldn’t have been more than a few years older than me, and I was in my early thirties. I looked around at the casino. No one was playing with chips of any kind. “So what?” I asked. “I won years of life. That woman won the use of her legs. What else can a person win here?”
“Oh, almost anything. They can win almost anything you can imagine.”
A cold feeling settled in my stomach. “And what do they wager?”
His eyes flashed with greed. “Almost anything. They can wager almost anything you can possibly imagine. Anything equal in value to the item they want in return.” He nodded towards a nearby roulette table.
A man stood by the table, cradling his hands. “Another finger,” he called out. He only had three fingers remaining on his left hand. As I watched, the ball came to a stop, and another finger disappeared from his left hand.
The pit boss extended his hands. “Feel free to try any of our games. Bet and win whatever you’d like.” He reached out and snatched my hand. A feeling of intense warmth passed up my arm to my chest. “There,” he said. “I’ve even given you some house money to get you started. An extra decade of life, on me.”
I ripped my hand away, staring at him in horror. Then I looked back at Selene. Something clicked in my mind. “You offered her the chance to play. What did she want?” I asked.
“Her husband,” the pit boss said. “Quite the sad story. He died two years ago. She wanted him brought back to her.”
“What did she wager?” I asked.
“She wanted the chance to win a soul, the most valuable object in existence. I’m sure you can imagine what she needed to wager for the chance to win it. What she wagered is unimportant. The important question is: What do you want, Orin?”
I stared at Selene with a flat expression. “I’m sure you can imagine.”
His eyes flashed with greed again. “How wonderful. The casino could always make use of another dealer. Feel free to make your wager at any one of our games; I’ll be eagerly awaiting the results of your night. Oh, and do take advantage of our waitresses. We always supply food and drink for ‘high rollers’.” He walked away.
I spent the next few hours trying to decide which game to play. I was going to be wagering my soul, so I wanted the highest chance possible. Slots and roulette were out. I’d done some reading online about counting cards, so I figured that blackjack gave me the best odds.
I walked up to Selene’s table and sat down. “Bet?” she asked with that same toneless voice. “Three years,” I said.
I spent the next hour or so doing my best to remember how to count cards. I knew that low cards added one to my count and high cards decreased it by one, but the casino used three decks. I had read something about how that was supposed to change my calculation, but I couldn’t quite remember how.
Every time I won a hand, I cursed myself for not putting everything on the line. Every time I lost, I breathed a prayer of thanks that I’d waited. And all the while, I kept track of the count.
I had lost fifteen years of life when the count finally reached +5.
“Bet?” Selene asked.
“I wager my soul so you can be free,” I said.
The table around me fell silent. Selene’s eyes flickered, but she showed no other emotion as she dealt the cards. I watched my first card, punching the air in excitement when I saw a Jack. My excitement turned to ash when my second card was a four. Fourteen.
I looked at her hand. One card was facedown, but the faceup card was a King. I swore loudly, staring down at my hands.
“Hit?” she asked. The entire table was silently watching me.
“Hit,” I said, not looking down. The table erupted in cheers. I looked down to see a 7 atop my two other cards. 21. Blackjack.
I looked at Selene who flipped over her facedown card to reveal a 9. 19. I won.
The glassy look left her eyes immediately. She looked around in surprise, then her eyes locked on mine. “Orin?” she asked, then almost immediately began to cry. The entire casino broke out in cheers.
I grabbed her hand and headed for the elevator. The doors had begun to close when the pit boss reached out with a hand to stop them.
“Congratulations,” he said, beaming. He seemed to be honestly excited.
“Shouldn’t you be upset?” I asked.
“Not at all. Casinos love it when we have big winners. It inspires the other players to make larger bets. I imagine I’ll gain two or three dealers before the night is through from your performance.”
“Great,” I said flatly. “Now let us go.”
“Not yet,” he said. “You didn’t just win, Orin. You got a blackjack. And blackjack pays out 1.5 times your bet. You won your sister’s soul and more.”
I stared, not sure what to say. “What are you saying? I won half a soul extra?”
The pit boss grinned wildly. “Just remember what I said. You’ll find living for decades and decades to be a boring experience. After a few centuries, you’ll be back to gamble that half a soul away. Congratulations!”
He removed his hand, and the elevator doors slammed shut.
I helped Selene back to her house. Her children were relieved. I watched them cry, then moved into the kitchen to start making dinner.
It’s been a few days since that experience. The casino is still out there, and buses full of people still arrive. I… I cut my hand pretty bad a few days later. When I checked it an hour later, it had already healed, no scar or anything. I’m not sure exactly what I won at that casino, but there’s no way I’m ever going back.
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submitted by Worchester_St to WorchesterStreet [link] [comments]

One day at a time (almost 3 years in)

Initially, for me, when I hit bottom, it was easy to make changes. Because at that point, there's nothing I can try and say to convince myself to keep going (even though I had no money). In 2 years I paid off all of my debts and now my wife and I are looking to sell our current our condo (which I purchased about a month after dating her) and buy a house within the next 6 months. Life is great but there is something missing, or at least I think there is.
Gambling provided such an exuberance that for me, truly feels unmatched. Winning 10K on a spin of roulette is one of the greatest highs I've ever had. Shooting craps for 45 straight minutes is up there. Hitting the couple of 5 figure NFL parlays and dozens of 4 figure parlays were incredible as well. In casino gambling and sports gambling weren't my downfall, gambling in general was. And online casino gambling is really what did me in.
Yes, spending time with my family is amazing. My wife and daughter are just indescribable. I'm truly blessed to have the wife and daughter that I have. And had I married any other woman, more likely than not she would have left me when I hit rock bottom with a mountain of debt and having lied to her for most of our marriage. And had she left, I wouldn't have a daughter who just turn one and half.
Back to the beginning when I hit bottom, it was so easy for me to change because I NEEDED to change. In Gambler's Anonymous, there is a saying in there that says "it's every compulsive gambler's dream to gamble like a normal person". I'm paraphrasing because I don't the exact quote, but that's what I struggle with most on a daily basis. Knowing that I can't place a normal bet.
I strongly considered once, if I convinced my wife to let me gamble 125 dollar a week on the NFL, it would only be 2,500 for the season. And if I hit 1 Parlay, we would make 7-8K on it. Just once. And after about 8 seconds of thinking about that, it hits me...no matter how I try to cheat the system, I can't cheat myself. I can't gamble like a normal person. Eventually, gambling would do me in and I'd be done again.
My advice to anyone is who is struggling is: be honest with yourself. If you can't do that, it's hard to stop gambling, it's hard to make changes and it's hard to recover.
Peace and love.
submitted by The_Advocate07204 to problemgambling [link] [comments]

5 Strategies in Quant Trading Algorithms

Hey everyone, I am a former Wall Street trader and quant researcher. When I was preparing for my own interviews, I have noticed the lack of accurate information and so I will be providing my own perspectives. One common pattern I see is people building their own algorithm by blindly fitting statistical methods such as moving averages onto data.
I have published this elsewhere, but have copy pasted it entirely below for you to read to keep it in the spirit of the sub rules. Edit: Removed link.

What it was like trading on Wall Street

Right out of college, I began my trading career at an electronic hedge fund on Wall Street. Several friends pitched trading to me as being a more disciplined version of wallstreetbets that actually made money. After flopping several initial interviews, I was fortunate to land a job at a top-tier firm of the likes of Jane Street, SIG, Optiver and IMC.
On my first day, I was instantly hooked.
My primary role there was to be a market maker. To explain this, imagine that you are a merchant. Suppose you wanted to purchase a commodity such as an apple. You would need to locate an apple seller and agree on a fair price. Market makers are the middle-men that cuts out this interaction by being always willing to buy or sell at a given price.
In finance lingo, this is called providing liquidity to financial exchanges. At any given moment, you should be confident to liquidate your position for cash. To give a sense of scale, tens of trillions in dollars are processed through these firms every year.
My time trading has been one of the most transformative periods of my life. It not only taught me a lot of technical knowledge, but it also moulded me to be a self-starter, independent thinker, and hard worker. I strongly recommend anyone that loves problem solving to give trading a shot. You do not need a mathematics or finance background to get in.
The trading culture is analogous to professional sports. It is a zero sum game where there is a clear defined winner and loser — you either make or lose money. This means that both your compensation and job security is highly dependent on your performance. For those that are curious, the rough distribution of a trader’s compensation based on performance is a tenth of the annual NBA salary.
There is a mystique about trading in popular media due to the abstraction of complicated quantitative models. I will shed light on some of the fundamental principles rooted in all trading strategies, and how they might apply to you.

Arbitrage

One way traders make money is through an arbitrage or a risk free trade. Suppose you could buy an apple from Sam for $1, and then sell an apple to Megan at $3. A rational person would orchestrate both legs of these trades to gain $2 risk free.
Arbitrages are not only found in financial markets. The popular e-commerce strategy of drop-shipping is a form of arbitrage. Suppose you find a tripod selling on AliExpress at $10. You could list the same tripod on Amazon for $20. If someone buys from you, then you could simply purchase the tripod off AliExpress and take home a neat $10 profit.
The same could be applied to garage sales. If you find a baseball card for $2 that has a last sold price on EBay for $100, you have the potential to make $98. Of course this is not a perfect arbitrage as you face the risk of finding a buyer, but the upside makes this worthwhile.

Positive expected value bets

Another way traders make money is similar to the way a casino stacks the odds in their favour. Imagine you flip a fair coin. If it lands on heads you win $3, and if it lands on tails you lose $1. If you flip the coin only once, you may be unlucky and lose the dollar. However in the long run, you are expected to make a positive profit of $1 per coin flip. This is referred to as a positive expected value bet. Over the span of millions of transactions, you are almost guaranteed to make a profit.
This exact principle is why you should never gamble in casino games such as roulette. These games are all negative expected value bets, which guarantees you to lose money over the long run. Of course there are exceptions to this, such as poker or card counting in black jack.
The next time you walk into a casino, make a mental note to observe the ways it is designed to keep you there for as long as possible. Note the lack of windows and the maze like configurations. Even the free drinks and the cheap accommodation are all a farce to keep you there.

Relative Pricing

Relative pricing is a great strategy to use when there are two products that have clear causal relationships. Let us consider an apple and a carton of apple juice. Suppose there have a causal relationship where the carton is always $9 more expensive than the apple. The apple and the carton is currently trading at $1 and $10 respectively.
If the price of the apple goes up to $2, the price is not immediately reflected on the carton. There will always be a time lag. It is also important to note that there is no way we can determine if the apple is trading at fair value or if its overpriced. So how do we take advantage of this situation?
If we buy the carton for $10 and sell the apple for $2, we have essentially bought the ‘spread’ for $8. The spread is fairly valued at $9 due to the causal relationship, meaning we have made $1. The reason high frequency trading firms focus so much on latency in the nanoseconds is to be the first to scoop up these relative mispricing.
This is the backbone for delta one strategies. Common pairs that are traded against each other includes ETFs and their inverse counterpart, a particular stock against an ETF that contains the stock, or synthetic option structures.

Correlations

Correlations are mutual connections between two things. When they trend in the same direction they are said to have a positive correlation, and the vice versa is true for negative correlations. A popular example of positive correlation is the number of shark attacks with the number of ice-cream sales. It is important to note that shark attacks do not cause ice-cream sales.
Often times there are no intuitive reason for certain correlations, but they still work. The legendary Renaissance Technologies sifted through petabytes of historical data to find profitable signals. For instance, good morning weather in a city tended to predict an upward movement in its stock exchange. One could theoretically buy stock on the opening and sell at noon to make a profit.
One important piece of advice is to disregard any retail trader selling a course to you, claiming that they have a system. These are all scams. At best, these are bottom of the mill signals that are hardly profitable after transaction costs. It is also unlikely that you have the system latency, trading experience or research capabilities to do this on your own. It is possible, but very difficult.

Mean reversions

Another common strategy traders rely on is mean reversion trends. In the options world the primary focus is purchasing volatility when it is cheap compared to historical values, and vice versa. Buying options is essentially synonymous with buying volatility. Of course, it is not as simple as this so don’t go punting your savings on Robinhood using this strategy.
For most people, the most applicable mean reversion trend is interest rates. These tend to fluctuate up and down depending on if the central banks want to stimulate saving or spending. As global interest rates are next to zero or negative, it may be a good idea to lock in this low rate for your mortgages. Again, consult with a financial advisor before you do anything.
submitted by chriswugan to algotrading [link] [comments]

trying my good luck again today!

Yesterday was my first time in the casino. At the beginning i was overwhelmed by how many games where on the floor! I didnt do my homework so i didnt know where to start. Long story short is that i got pointed to the roulette table, took me a few mins to figure it out then invest 90 bucks. Ended up winning $347 in 25 mins right before they closed. It was so random how i ended up in there. It was like “hmm fuck it, i never tried this before.” Im glad it turned out good. Also trying my luck today, if it doesnt go well then im outta there quick lol
Not trying to lose everything i won my first time around. WISH ME LUCK GUYS !
submitted by bkdredditYO to gambling [link] [comments]

What can I do?

I've been a gambler ever since I was 15. I got hooked my first time at a casino playing roulette. Walked in with 50 and left with 250. I proceeded to go back everyday for the next week and win. I then found out about online gambling. I deposited 100$ in my 888casino account and ran it up to 22,000. At the time I was 19. Of course its impossible to withdraw instantly and it usually take a few days so we all know what happened to me balance. For the next couple years the same thing kept happening to me. Then one night I deposited 1000$ into another online casino and at this point I'm roughly 20,000 in debt from online casinos. I proceeded to run up my 1000$ deposit into 40,000 playing baccarat and it eventually dwindled down to 15,000 . I then put a max bet of 5,000 on Banker and 2500 on the dragon bet. Yep you guess it i hit it for a payout of 87,500. I withdraw the max I could instantly of 10,000 and told myself I would never gamble again. Well you guess it again they 10,000 deposit went through but the other deposits were taking alot longer then normal so being the nervous person i am I get mad and start playing with the money in my account (playing right into what the casino wants me to do) and yupp. I lost it all. Every single penny. That day I knew I had a massive issue and wanted to set my life straight. I had set goals to payoff all my debt and save for an income property. I was sober for almost 2 years and I had had no debt at all and a very nice down payment ready for a duplex to set my life up well. Long story short I went to get the duplex and had everything in line and had a great credit score and enough funds etc. But COVID hit and it made all the lenders tighten thier lending requirements for mortgages. So ended up turning my life around for 2 years and progressing as a person to getting completely shut down. I felt like there was nothing I could do to beat this. I had done everything "right" for 2 years to be shut down by the banks. And just an FYI covid was almost not even a thing were I live because we were on complete lockdown so the bank tightening the requirements was BS. Our housing market was going up .. not down. Anyway we all know what happened next .... I proceed to think "what amount of money will be enough" I had no debt and $25000 for a down payment on a duplex where someone else would be living renting one side and paying my mortage for me and I would he living in the other side. Anyway the inner demon return and I turned back to the darkside. 10,000 into my account. I then proceeded to run it up too 150,000 playing baccarat. That should be enough you would think right ? Well we all know that isn't how our brain works in the moment. So of course I go to withdraw and the first withdraw goes quick so I process the next one it takes a few days and it processes. Then on the third it takes an excessive amount of time so I got nervous and proceeded to lose everything in my casino account once again. Not believeing how I could do that again. I proceed to drain my bank account to try and one and for all win a million. (My inner mind really wanted me to lose it all for it all to be over) I didn't feel anything from the wins at all. 25,000 wins and i wouldn't be excited. But the feeling i got when I lost was like nothing else in the world.
I'm not really sure where else to turn right now. Just in need of some massive help and input in anyway possibly because Ive just about lost all hope that anything good will ever happen to me.
*note i am in my mid 20's and currently have 35,600 in credit debt. *there was also many other times I've gambled in the timeliness in my story where I ran up super high from nothing but for the sakes of being repetitive I left many of those out.
Thats my story. Thanks for listening.
submitted by please-helpme098 to problemgambling [link] [comments]

Volteo Flavor Text

I found it pretty cool in the original and just found out it got removed on the translation, so I bring you the small "lore" on the Casino Diamond Crew (90% of it is the real translated text because its not like its wrong, the punchline just got removed, sort of)
Roulette Vampire:
Oh, is this your first time at the casino? Enjoy your stay. Will you bet on the red or on the black? Or risk it all on one number? "Don't look away", is my advice. Anyway, let's give the wheel a spin!
-Casino Diamond: Topaz Floor
Your straight up paid off. You really paid attention to me! The ball returns to a pocket it passed already, and falls exactly where I'm looking at. "From start to finish," it followed my orders. The ball is alive, after all.
-Casino Diamond: Topaz Floor
Craps Devil:
So you're the promising rookie? You just beat the previous floor, right? Let's start with your come-out roll. The trick here isn't the same as the previous floor. Don't mistake who "your opponent" is, it's all in your hands. Can you break through here?
-Casino Diamond: Sapphire Floor
Congratulations, it's a seven out. Your instinct is as good as your eyes. Callibrating a throw is just like calibrating lenses, just "measure" the distance, that's how you get the number you want.
-Casino Diamond: Sapphire Floor
Showdown Demon:
Look who's made it all their way here... You really are full of promise! Anyway, will you call? Or will your raise? Everyone on this table is waiting for you! "The true" trick isn't placed on the cards. Go ahead, find out what it is!
-Casino Diamond: Ruby Floor
Fifth Street! What an admirable calm demeanor! You figured out that the entire table was in on the trick! Teamwork is important in a "gamble", I was communicating with everyone through telepathy!
-Casino Diamond: Ruby Floor
Volteo, Hedonistic Dealer:
So you've come, my promising fledgling. My candidate for new Casino Owner! Bet your standing and your life, you know what our goal is, don't you? "Don't look away, from start to finish. To measure your opponent is the true gamble"
-Casino Diamond: Diamond Floor
You thought I wanted to measure your prowess? Bohaha, wrong! It was all a trick! I was letting you win, ever since the beginning! I'm taking everything you wagered now, bon appetit! "Don't look away, the true gamble is whether you can deceive the opponent from start to finish!"
-Casino Diamond: Devoured by the Devil (Within The Devil's Stomach on a literal translation)

The untranslatable wordplay in this case is that both of Volteo's sentences are "Aite wo hakaru ga shin no bakuchi', but while the first "hakaru" is written as "measure", the second is written as "deceive".
The "from start to finish" is tricky since on the roulette context, it implied that the result would be a number from 1 to 10, but that way it wouldn't work into volteo's line.
submitted by chihayajikan to Shadowverse [link] [comments]

A Brief Guide on Risk and Equity Investing

Hello all, I am a graduate student in finance with a bachelor's degree in Accounting. I wrote my thesis on how macroeconomic policy affects US equity markets (equity markets = stock market). I've spent the last 3 years studying this stuff and I'd say that I am not qualified in any sense to give sound investment advice. What that should tell you is that the stock market is an extremely complex landscape and takes years to understand. Even the best of the best lose money. With that being said, this comment is for informational purposes and not to be taken as investment advice or direction.

I originally wrote this post as a comment to another user, but thought that it may be beneficial for others to use. It's very surface level, but I think it does a good job of answering some more abstract questions that people may have about equity markets. I also think it does a good job of establishing a solid, albeit basic idea of value investing and financial analysis.
---
Understand that the last ten years does not accurately represent equity markets historically. From 1925 to 1941, if you invested in the S&P 500 index, you would have seen an average annual return of less than 5% with several of those years being negative- over the next ten years. Same goes for 1960 to 1975. (Disclaimer: Before people tear me apart saying you can't invest in the S&P 500 directly, I know. I'm using it as an example.)

We've experienced a remarkably strong bull market over the last ten years, with 20% annual returns on the S&P 500 index; however, just because we've had a strong market the last ten years does not mean it will stay that way. Consider Japan in the early 1990s. Their bull market turned into a bubble (google: financial bubble) and for the next 10 years they saw no long term growth in their equity markets. They call the 1990s in Japan, "the lost decade". So this begs the question: if there are 10, sometimes 15 year long periods where we have almost no growth, or perhaps negative returns, when, where, and why should I park my money in equities?

The first thing I think we should understand is risk. Risk is at the heart of almost all things "investing". If you go to the casino, and place $5,000 straight at the roulette table, your payout is a massive 35:1. If your bet hits, you walk away with $180,000. But statistically, your chances of winning are less than 3%. The risk is massive. Alternatively, if you buy a 3-month US treasury bill, the payout is around .1%. Meaning you would made $5 on a $5,000 investment. Why? The risk is so low. Also, what is a 3-month US treasury bill? Let me explain.

A US Treasury bill is a short-term government debt security. Here's how it works. You give the US government $5,000. They now owe you $5,000 PLUS interest at a future date. In this example, it's 3 months. The US government says, "Thank you! We will give you $5,005 back in three months!" In three months, they give you the money back. Ask yourself, if you had to guess the percentage likelihood of the US government collapsing in the next three months, what would it be? Pretty low, right? That's why the return is so low. The United States government has the power, means, right, and infrastructure to tax the wealthiest population on the planet. Also, they aren't going out of business anytime soon. Therefore, that $5 return on a $5,000 investment is essentially guaranteed. Check out this chart.

All stocks sit somewhere on this line of risk and return. But, how do we know the risk and return? Great question. How do we assess the value of an asset? An asset's worth is the sum of its future cash flows discounted to today's dollars. Read that again. An asset's worth is the sum of its future cash flows discounted to today's dollars. This is what we call "Net Present Value". Here's a video over it. Here's the NPV formula.

Let's say we have a machine that spits out one dollar every year for 5 years. What is the value of that machine assuming a 2% inflation rate every year? Let's find out! Remember our NPV formula? Let's do the math. [$1 / (1+ .02)1] + [$1 / (1+ .02)2]+ ... + [$1 / (1+ .02)5] = $4.71. In this example, inflation rate is the discount rate; however, the discount rate can be many other things. We won't go into that right now though.

So what does this mean to you? It gives you perspective. All those price movements in the stock market are the product of huge investment banks, mutual funds, and hedge funds moving money in and out of equities in massive quantities, with those decisions backed by hundreds, if not thousands of hours of research with private data that you can't access even if you had the money too.

One of the big ways they (big banks) make these decisions is by using the NPV formula with Net Income in the numerator to determine the value of the asset and a rate to discount the cash flows at (there are ways to do this, again, we won't go into it). Then they use more complex methods to assess risk. Other methods of valuation may be used, but again, this is one of the big ones.

So far, we've learned that risk and reward are positively correlated and companies are valued by their earnings. But, if companies are valued by their earnings, then why do bubbles happen? Why does the market tank sometimes? Shouldn't the market accurately reflect all companies at any given time? In theory, yes. But humans are irrational creatures, and often wrong. Therefore, stock prices are not always appropriately valued.

I am going to introduce you to two financial ratios: earnings per share (EPS) and price to earnings (P/E) ratio. NOTE: EARNINGS = NET INCOME.

Earnings per share is the net income of a company divided by it's number of outstanding shares. EPS = Net Income / Shares Outstanding. So let's say my company has a net income of $100 for the 2020 year and there are 100 shares outstanding. That would mean that my company's EPS is $1. Let's look at a real example: Apple. Click on this link. In the top left hand corner, click on sections>financial statements>consolidated statements of operations. Find EPS. Apple's EPS is 3.31. That's pretty solid. EPS puts a companies earnings in perspective with respect to the number of shareholders it has, which allows you to compare a companies earnings to its competitors, whether they be smaller or larger.

Next, the price to earnings ratio. This is easy to calculate. It is just the share price divided by the EPS. PE = Price / EPS. What this does is puts the price of the stock in perspective with respect to its earnings. Consider the example where my company had an EPS of $1. Let's say the price of my stock is $30 per share. That would mean my PE ratio is 30 (PE raio of 30 = $30/$1 EPS). For some perspective on the PE ratio- the average P/E ratio in the S&P 500 is 25-30. But they can be as high as 1,000 (like Tesla) or as low 4 or 5. What the PE ratio does is says, "Hey man, here's a metric to determine how justifiable the price of this stock is considering how much the company makes." Generally speaking, investing in companies that have low PE ratios tend to show higher returns. Why? Because there is more of an acceptable margin (historically) for the price to increase with respect to earnings.

For example: Five years ago, Apple's PE ratio was around 10. Now it's 40. This means the price went up, the earnings went down, or both. Over the last 5 years, Apple's EPS has increased. Therefore, because it's PE ratio is increasing as well, this means that it's price of the stock is increasing faster than it's earnings. Reference this chart. This isn't necessarily a bad thing, it just means that the big boys like Morgan Stanley, JP Morgan, etc. think that Apple is going to do really well over the coming years as of right now. But let's say that tomorrow Apple was outed as a front for a money laundering scheme and they were going to be audited by the SEC and FBI. The price would tank. Why? Because people would be questioning if Apple would even exist as a company in the following years. They (the big boys, the government, me and you) would doubt their earnings. Rightfully so, I should add.

What I (and many others) do is look at companies and determine:

  1. Are their earnings sound? (Is it positive? If not, will it be positive? Will the company grow? Will another company come in and do whatever this company is doing, better?) This will help you determine if the return will be solid.
  2. What is the current price of the equity in relation to the earnings? (What's the PE? Is it going up? Is it going down? Why?) This will help you determine how risky is your investment.

A solid company is generally one that has a high EPS, a low PE ratio, and is expected to grow. The reason Tesla has a PE ratio of >1,000 is because people expect it to grow. Like, they expect it to be the largest electric vehicle company by net income in the next 10-20 years AND expand into other markets like solar energy and batteries. Will they be right? I guess we'll see!

This is the tip of the ice berg when it comes to investing. If you truly want to learn how to capture returns without exposing your investment to a large amount of risk, you are going to have to spend time learning how to do this. Here are some resources:


In my opinion, experience is a great teacher. Play with a small amount of money. Throw $100 at a stock you like and see what happens to it. If it drops 10% in a day, figure out why. If it goes up 10% in a day, figure out why. If it goes up steadily over the next six months, figure out why. If it doesn't do anything- figure out why.

I'd like to note again that these opinions do not constitute investment advice. They are my personal opinions and do not guarantee any sort of returns. This is how I personally approach the stock market. Investing in any asset carries risk and all investors should conduct their own due diligence and analysis before investing.

"Be fearful when others are greedy; be greedy when others are fearful."

-Warren Buffett

Cheers
submitted by LithiumTomato to investing [link] [comments]

Day 0 for the last time: My story so far.

I have struggled on and off since early 2018 with this bizarre, insidious disease. This post is kind of long because I need to vent. I'm hoping this community can provide some guidance and accountability. At the very least, maybe somebody can learn from my mistakes and STOP now and take this seriously. GA meetings, counseling, whatever you need to do.
I had never casino-gambled in my entire life until I was 29. I became curious about casino gambling, as a friend of mine told me about a recent trip to Vegas. Soon after, I found myself searching for an online casino, which wasn't difficult. I made a $25 deposit. I lost that amount. My stomach sank. I felt so terrible for blowing $25 of my hard-earned money. I then made two more $25 deposits. I lost those as well. I felt sick. However, a thought entered my mind and I did the unthinkable: "F**k this, I'm going to get my damn money back." I deposited $500 and won $7,000+, and the rest is history. "I'm good at Roulette!" I thought to myself. "I've figured out the system! I can quit my job and be a professional Roulette player!" Cringe. How laughably naive this is in hindsight. I was high on the dopamine rush of winning. I remember even when I got down to $1,000 from that high of $7,000, I had absolute confidence that I would win the money back, because I had "figured out the system." Spoiler alert: I didn't recoup the money, and continued chasing my losses and digging a deeper and deeper hole.
I'm now 32, single, and still in the jaws of this beast as of an hour or two ago. I estimate that I've lost over $100,000 gambling online over two years. I owe the IRS tens of thousands. Despite being furloughed early this year due to the pandemic, this year was the best financial year of my life (over $100,000 pretax). However, I've blown $46,000+ of it on bitcoin gambling sites in this year alone. I am disgusted and sickened every time I think about it. I could have paid off most of my debt. I could have invested it. I could have, would have, should have. You know how it goes.
I've been staying with my parents the last few months to escape the loneliness and monotony of my one bedroom apartment (which I'm still paying for) and the stress of big-city life. I thought coming out here would cure me of my problem, but it hasn't. My gambling addiction followed me. I've told my parents recently, and they recoiled in disgust and shame. They don't know how to help me. They first responded with anger, calling my behavior stupid, etc. They've since become supportive, and ask me if I'm still gambling, and I lie. How can I admit that I continued to gamble after I swore up and down to them that I'd stop? Since I've told them, I've probably lost another 5 to 10k.
My hope with this long story is, maybe writing all of this down will help me, and one of you reading this, snap out of this and take it seriously. Since I relapsed around May, I've been living in a fantasy world. I've become withdrawn, I've neglected my hygiene, showering less than once per week, not going outside, massive mood swings. I can't ever live in the moment because all I think about is my debt and "what could have been." I'm in a bad mood most of the time. I have an erratic sleep schedule. I look at the news every day, which puts me in a bad mood. My parents invite me down for dinner, but I don't want to go, instead wanting fast food, which I go get late at night after they've gone to bed. I've gained weight. Each time I make a deposit and lose it, I feel so disgusted. Doesn't matter how big or small.
Here's what I've finally learned about myself tonight: I have to leave the fantasy world. Early this morning, I made what will be my last bet. I know I shouldn't make absolute statements, but I need to be done with this. Not tomorrow, not in the new year, NOW. This morning I started with a $160 or so deposit and turned it into almost $6,000 over a couple of hours. But then I lost it all. Why didn't I stop? I could have paid a family member back, got that new M1 chip MacBook I've been wanting, paid for Christmas presents for family, the list goes on. But I didn't. We never stop do we? I blew it all. Even right now, the temptation to make another deposit with the hopes that I'll have another lucky streak remains, but I know that even if I make it back up to $6,000, I'll want to go to $7,000. If I make it to $7,000, I'll want to go to $8,000. If I withdrew the money, sooner or later I'd be right back to making deposits again when I'm bored thinking I can win even more. I know all of this because this is the obvious pattern that has emerged over two years. No matter how much I win, I always end up putting it back into the casino. As I sit here sour about what I could have done with that $6,000, I should instead look at things in perspective: would that 6 grand have really made that much of a difference? I would have gone from $46,000 lost this year to $40,000 lost. Still WAY in the negative.
I have decided to leave this nightmarish fantasy world forever. I'm going to take a damn shower. I'm going to clean my disgusting room. I'm going to work on art projects. If I get bored, I'll play a video game. I used to find joy in gaming, and now all I enjoy is gambling. That stops now. I will find joy in every day life, I will make each day count, I will continue to learn my craft so I can earn more next year, I will live normally, I will make an effort to attend GA meetings online, and I will stop worrying about money and take it ONE DAY AT A TIME. As I continue to abstain from gambling, I know my mood will improve. I have a long way to go with some other bad habits. I have enough money to last through the end of February. All I can think about is "what about AFTER February?" How about this: who gives a shit. I've never gone a single year and not been able to earn money as a freelancer or otherwise to pay my bills. This stops now, who the f**k is with me?
submitted by DustProof51 to problemgambling [link] [comments]

Slots LV Casino - Best USA Online Casino

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submitted by Toniern35 to Casino_Slots [link] [comments]

Ultimate Casino Cashback Guide - Earn over £500 - UK ONLY

This guide aims to outline all of the best gambling cashback offers available over a range of sites, following this guide you should be able to make over £500 in cashback
Note - Cashback often takes a while to payout, bear this in mind when completing offers as you may have to wait to cashout your earnings
When completing these offers don't chase any loses as the cashback will give you a profit with nerly every offer
A short review of each site and some referral links
Topcashback - Cashback will show as tracked within a few days, can take a few weeks to become payable, in some cases even longer, asides from gambling they have great offers for car insurance and mobile phone contracts, worth taking a look to save some extra money!
Ref - Extra £5 when you make £10 cashback
Non-Ref - No reward
Quidco - Much the same as Topcashback
Ref
Non-Ref
Minimum payment - £10
Ohmydosh - Faster Payouts but less offers
Ref - Extra £1
Non-Ref - No reward
Minimum payout - Any
Cashback Earners - A lesser known site in need of a fresh look, this site also has some bad reviews, referal income is paid to the site on a monthly basis with the dates for each site being different, offers don't seem to show as tracked until the website receive their payment, cashback should appear in your account within 1 month of completing an offer. Cashout amounts are specific, its best to build up a balance and then withdraw. Payment takes around 3 weeks.
Ref - Sign up bonus £6.5
Non-Ref - Sign up bonus £6.5
Minimum payout is £20
Payment Proof - Payments for all sites can be seen here, quidco isn't shown as i have signed up for all the casinos on offer through topcashback
How to Maximize Profit - IMPORTANT - READ THIS
For the majority of these offers you want to play blackjack following the chart found here
Any blackjack game will do, look for a normal version of the game at the site you are playing on and make sure it is a non live game as the hand sizes will be lower.
When playing blackjack there will often be more than one spot that you can bet on, allowing the player to bet more than one hand at a time, Its important to only bet on one spot at a time as it reduces the variance of the game and will ensure you get the maximum return possible from the game, stick to £1 hand sizes when playing and dont be tempted to bet larger amounts as you will be getting a nice amount of cashback from every offer
Through playing blackjack this way the player will get a return of around 98%, meaning for every £100 staked you will lose around £2. If you make a loss on a casino site after completing the required wagering amount, withdraw your remaining balance, don't chase loses as the cashback will make up for loses and give you a profit in most cases.
All offers are updated fairly regularly, make sure to check the terms for each offer as information in this post may become outdated. Also check for other offers every now and then as new casinos are added!

TopCashBack Offers - £400+ Profit

Topcashback Referral - Get an extra £5 - See the Ref Link at the top of the page!
If you dont already have an account at top cashback, you can sign up through my referral to get an extra £5 added to you account once you make £10 cashback
Lottoland - Cashback £15
Add £11 and play 11 separate £1 hands, following the strategy outlined at the top of the post, withdraw any remaining balance.
Betfair Casino - Cashback £70
Note this is not the poker offer
Add £50 to your account and play 50 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Quidco are offering £100 for this offer
Party Casino - Cashback £26.5
Deposit and play 30 single £1 hand son blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Tombola - Cashback £24.5
Deposit £10 and open the tombola roulette game, choose a £1 chip size and choose 5 spots, repeat this twice, withdraw any remaining balance, you will likely lose money here but the cashback will give you a profit
Coral - Cashback £46
Add £10 and play 10 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Bingoport - Cashback £3
Sign up to bingoport to get an easy £3
Ladbrokes - Cashback £42
Add £10 to your account and play 10 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Pokerstars - Cashback £32
Add £25 and play 25 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
STS - Cashback £21
Add £30 to your account and play 30 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
William Hill - Cashback £54
add £25 and play 25 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Megacasino - £15.75
Add £25 - Play 25 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
LottoGo - Cashback £3.18
Buy a euromillions ticket
Slingo - Cashback £24.75
Add £10 play 10 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
PaddyPower Games - Cashback £20
Add £10 play 10 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
The Football Pools - Cashback £24.75
Sign up for the £10 a month subscription, cancel this after 30 days
Lottomart - Cashback £18
Add £10 - Play 10 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Genting Slots - Cashback £25
Add £30 play 30 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
OhMyDosh - Cashback £40+
Referral gives an extra £1, sign up through the ref link at the top of the post to get the bonus!
Gala Bingo - Cashback £17.50
Deposit at least £5, you'll get a £10 slots bonus and 100 free spins, these carry hefty wagering requirements, Open any slot and play the minimum spin size, play until you lose all of the money in your account or complete the wagering requirements on the bonus funds. Withdraw any remaining balance.
BGO - £10 Cashback
Deposit at least £15. Play 15 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance. DONT ACCEPT the welcome bonus from BGO.
Lottosocial - Cashback £4
Sign up to Lotto Social - Use your correct phone number when joining as it is the only way to login to your account. Purchase 10 lines for £1, after making a purchase go to your account page and find the list of syndicates your are in, leave the syndicates to avoid making any more payments.
Cheeky Bingo - £10 Cashback
Deposit £10 and get a £40 welcome bonus, just play bingo with all of your funds and hope to get some wins, bonus has 4x wagering requirements.

Quidco - Cashback £100+

Quidco don't offer a sign up bonus, find my ref link at the top of the post if you want to help me out!
All of the offers on quidco are much the same as topcashback, the only offer worth noting is the betfair casino offer which pays £100
Betfair - £100 cashback
Add £100 and play 100 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.

Cashbackearners - Cashback £180+

Sign up Bonus
Get a £6.5 sign up bonus, think this works with or without the ref link, links are at the top of the post!
To find these offers just search for casino on the site.
All of these offers state that you only need to make a deposit, its best to play through the deposit 1x to ensure that the cashback is paid.
LuckyMeSlots - Cashback £15
Add £15 and play 15 single £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Spin Genie - Cashback £12.5
Add £12.5 and play 12.5 £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Cashmo - Cashback £10
Add £10 and play through £10 on any slot staking the minimum amount per spin. Don't spin the wheel that pops up after signing up or accept any other bonuses.
Ice36 -Cashback £15
Add £15 and play 15 £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Spinhill Casino - Cashback £15
Add £15 and play 15 £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Galacasino - Cashback £30
add £30 and play 30 £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Casino765 - Cashback £12.5
Add £12.5 and play 12.5 £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
Casinosuperwins - Not recommended, bad site, awful support
Casino2020 - Cashback £15
Add £15 and play through £15 on any slot staking the minimum amount per spin. Keep track of spins and quit the slot after wagering the required amount. Don't spin the wheel that pops up after signing up or accept any other bonuses.
Pocketwin - Cashback £10
Add £10 and play through £10 on any slot staking the minimum amount per spin. Keep track of spins and quit the slot after wagering the required amount. Don't spin the wheel that pops up after signing up or accept any other bonuses.
The Sun Vegas - Cashback £15
Add £15 and play 15 £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
DrSlot - Cashback £10
Add £10 and play through £10 on any slot staking the minimum amount per spin. Keep track of spins and quit the slot after wagering the required amount. Don't spin the wheel that pops up after signing up or accept any other bonuses.
MrSpin - Cashback £10
Add £10 and play through £10 on any slot staking the minimum amount per spin. Keep track of spins and quit the slot after wagering the required amount. Don't spin the wheel that pops up after signing up or accept any other bonuses.
PrimeCasino - Cashback £15
Add £15 and play 15 £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
ConquestAdor - Cashback £10
Add £10 play 10 £1 hands on blackjack following the strategy outlined at the top of the post, withdraw any remaining balance.
MFortune - Cashback £10
Add £10 and play through £10 on any slot staking the minimum amount per spin. Keep track of spins and quit the slot after wagering the required amount. Don't spin the wheel that pops up after signing up or accept any other bonuses.
Thanks for reading, hope this of use to some people, happy earning!
submitted by Leth96 to beermoneyglobal [link] [comments]

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