Why don't we have a Gambling forum in AAM?

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mathepac

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I've encountered a few problems with the National Lottery app on iOS. The App has been released in its new format across all platforms and as far as I can establish, it works on MacOS.

Why not ask a question on the Technology forum you say? If I wasn't indulging in my only form of Gambling, apart from stock exchanges, currencies, commodities, property, etc. twice a week, Sundays and Thursdays, I wouldn't have noticed the problem, so its a Gambling problem.

What do ye think?
 
Hello,

I spent several years involved in another discussion based website, which had a large dedicated gambling forum.

While I learnt lots of things, got many a lucrative free bet, gained thousands in bonus when opening accounts with new betting, casino and bingo platforms etc., I also saw people quit their jobs to become "professional gamblers", and later suffer heavy losses.

I would recommend against having a dedicated gambling forum on AAM.
 
mathepac said:
For what reasons?
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Let’s cut to the chase here. Gambling has become too easy for many. There’s nothing wrong having fun bets, but when somebody starts chasing losses, gambling can easily become a problem. We know that Gambling is a major problem for many, but we still do not know to what extent. Take a look at those inter county GAA guys who have suffered because of compulsive gambling.

So you might want to promote gambling here - Fine - But think of some of the consequences.

Just to repeat I enjoy weekly fun bets on the gee-gees and football and GAA. I keep an account of all my bets as that is part of the fun.
 
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I have seen many lose a lot, not just money but family and friends as a result of gambling. It can be every bit as destructive as other activities that can become addictive.

However if you set your limits to what you can comfortably afford to lose and don’t get carried away, it can be a great interest and hobby.

I like horse racing, I study the form during the week, the horses, trainers, jockeys etc and then on Saturday morning I go to the bookies and place my bets for cash, I don’t have any online accounts.

I do 2 X €1 win lucky 15’s on TV races, that costs me €30:00. I can then sit down in front of the TV for the afternoon and curse and roar at the horse, jockey, trainer etc.

I usually get some of my €30 back and sometimes a lot more than my €30 back, but admittedly overall the bookie always wins. I can afford to lose the €30 weekly, though with my winnings, it is probably only costing me less than €15 weekly.

For me, it is money well spent for the entertainment.
 
Persia said:
Gambling forum?

Would have to rename this site from Askaboutmoney.com to Howtolosemoney.com ;)
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Why? People lose money on property investments, stock markets, currencies, derivatives, and commodities trading in various combinations and schemes. These are merely Forums within AAM and all are forms of gambling, like cards, lottery, football pools, match results, etc. All have the potential to morph into something harmful and destructive because they are all gambling, but some forms don't feature here. I was trying to point to something more inclusive.
 
Hi mathepac

There is a big difference between investment and gambling.

With an investment, you have an expected positive outcome. If you buy a property or a portfolio of shares or bonds, they will more often than not, give you a positive return. Of course, you can lose money as well.

Gambling is very different and it has an expected negative outcome for the gambler and an expected positive outcome, before expenses, for the bookie.
 
Page 6 in The Irish Times, Dec 26th, 2024 has a full-page feature on proposed changes to the gambling laws in Ireland, although the headline refers to "rules on gambling".

The minister concerned, James Browne, in his speechifying in print refers to "hard gambling" as pursuits "such as casinos or poker" missing the entire point of reforming the laws.

We need someone with a better appreciation for what "hard gambling" and problem gambling are.
 
It depends on what you are investing in. Derivatives for example, the ubiquitous "junk bonds" invented a few decades ago, are high-risk gambles, nothing more nothing less.
 
Hi mathepac

We would have no problem if you discussed the new legislation in the

The great financial debates

Recurring debates on financial topics
www.askaboutmoney.com

But I suspect it will off topic fairly quickly and then it will be closed.

We won't be discussing "Anyone got any tips for Leopardstown?"

Brendan
 
Brendan Burgess said:
Hi mathepac

There is a big difference between investment and gambling.

With an investment, you have an expected positive outcome. If you buy a property or a portfolio of shares or bonds, they will more often than not, give you a positive return. Of course, you can lose money as well.

Gambling is very different and it has an expected negative outcome for the gambler and an expected positive outcome, before expenses, for the bookie.
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Or another way to look at it is that gamblers like risk, to the point they are prepared to pay for it in terms of negative expectation.
Investors want to minimise risk and want an expected positive return as compensation for any unavoidable risk.
 
There isn't much danger to Brendan's hacienda with this one. But I suppose like all rancheros he might wonder how his household would be viewed by respectable neighbours if he allowed a gambling sub-forum.

I'd have no objection in principle to a thread here on the National Lotto and the best ways to play it. But it might not go too far because it's always better to play those local bookie lottos that run off the National Lotto draw. Even if we include the latter it would still be limiting and perhaps too much interlinearly about the El Dorado of winning big than the benefits to the society of our stake - minus the operator's thick cut, of course.

I share the sentiments expressed years back by the Methodist Moderator of Ireland on gambling: basically gambling is a human vice that saps the very spirit of man.

The one thing thrown up by the stories of various unnamed GAA stars was how gambling had them in deep debts far sooner than family or friends saw any sign of distress. This is unlike the outward effects of booze and dope - which have immediate physical and behavioural effects that people close to them can observe and react to.
 
I agree. Gambling is a mugs game.

While I have fun with the occassional flutter on the Lotto, it is purely for fun with the unlikely, but nice to think about, jackpot or big prize win.


Years ago, before lotto plus, quick pick, when there were only 36 numbers, and there was no minimum £1m jackpot (so, a long, long, time ago) I was in a small syndicate while on holidays in West Cork. 5 of us played one line each.

We got 5 numbers on one line.

The missing number out of the six was '15'. It was the first number picked on the line directly underneath.

That was as close as I ever got to a jackpot win, which I recall at the time was about IR£600,000.

We won IR£450 , or £90 each.
My net weekly wage at the time was about £160pw, so although we came close, it was still a reasonable bonus.

Every bet has an in-built average loss in the range of 5%-20% loss from the off.
 
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