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gambling [2023/11/14 01:55] – add outcome qlyounggambling [2024/07/02 21:55] (current) – add page title qlyoung
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 +===== gambling =====
 +
 In October 2023 I went to Las Vegas for the first time as an adult, and was introduced to gambling. Up to that point I'd never //really// gambled. Poker with friends didn't really count, it just added some stakes to increase the fun and retain interest in the cards. Risky investments, like shorting $DHI and buying the $BLZE IPO, were the closest to Vegas I got prior to going. In October 2023 I went to Las Vegas for the first time as an adult, and was introduced to gambling. Up to that point I'd never //really// gambled. Poker with friends didn't really count, it just added some stakes to increase the fun and retain interest in the cards. Risky investments, like shorting $DHI and buying the $BLZE IPO, were the closest to Vegas I got prior to going.
  
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 3. Lack of any of the social elements or perks like free drinks or music meant that only the core activity of gambling remained. 3. Lack of any of the social elements or perks like free drinks or music meant that only the core activity of gambling remained.
  
-That said, I still enjoy short sessions of online gambling on games where most of the time you push. This minimizes the negative feelings of a loss, while still retaining the excitement of volatility, and rewards you with the excitement of the occasional win. You still lose in the long term, but there's a sweet spot where you can gamble for 2 hours straight with a $20 stake and walk away with $10 that makes spending that $10 a worthwhile price for the 2 hours of entertainment.+That said, I still enjoy short sessions of online gambling on games where most of the time you push. This minimizes the negative feelings of a loss, while still retaining the excitement of volatility, and rewards you with the excitement of the occasional win. You still lose in the long term, but there's a sweet spot where you can gamble for 2 hours straight with a $20 stake and walk away with $10 that makes spending that $10 a worthwhile price for the 2 hours of entertainment. ((Note: shortly after completing this article I hypothetically bet all of the remaining $150 from my initial $300 on a single dice roll and lost. Draw your own conclusions.))
  
 ===== conclusions ===== ===== conclusions =====
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 As a random thought tacked onto the end here, I bet that some people would be better off gambling than engaging in activities that are actually gambling but given the label of investing. For example, some options trades are realistically just pure gambling, but because it's done on an asset market where people also make rational investments it lets people rationalize the behavior by calling it investing. Such behavior might be less destructive if the label on it was "gambling", with all the social trappings and pressures (ie, expectations of appropriate risk management) that come along with that. But then, either you know you're gambling or you don't, and if you're self aware enough to acknowledge that you're gambling maybe you're better off doing it on the market where it's legal and where you're less likely to be judged for engaging in it. As a random thought tacked onto the end here, I bet that some people would be better off gambling than engaging in activities that are actually gambling but given the label of investing. For example, some options trades are realistically just pure gambling, but because it's done on an asset market where people also make rational investments it lets people rationalize the behavior by calling it investing. Such behavior might be less destructive if the label on it was "gambling", with all the social trappings and pressures (ie, expectations of appropriate risk management) that come along with that. But then, either you know you're gambling or you don't, and if you're self aware enough to acknowledge that you're gambling maybe you're better off doing it on the market where it's legal and where you're less likely to be judged for engaging in it.
  
---- +{{tag>gambling philosophy}}
- +
-Note: shortly after completing this article I hypothetically bet all of the remaining $150 from my initial $300 on a single dice roll and lost. Draw your own conclusions.+
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gambling.1699926918.txt.gz · Last modified: 2023/11/14 01:55 by qlyoung
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