I think you all noticed that the stock market went down again and this time it's because of Credit Suisse.
It is still one of the biggest banks in Europe so the European banking sector has some problems too.
Their bonds, CDS, everything is going down and it's bad news not just for people from Europe but for everyone cos this is international.
Credit Suisse had some problems in previous years but this time it's wild. They delayed their annual report and announced that they have weaknesses in internal control which is awful for the bank. And the largest shareholders started saying that they won't give any money to Credit Suisse. People are withdrawing from this bank for the last 3 months but now it's got even worse.
Because risk is getting higher, people move away from banks to invest in more stable assets. The US is helping banks to bail out depositors but banks still have to keep credit flowing which is pretty hard considering the loss of trust in this sector.
I think the best decision right now is to wait for what will happen next because it's pretty hard to predict where the market will move next.
"Waiting to see what will happen" is honestly the most terrible idea in times of panic, it needs to be treated immediately and decisively. Luckily the Swiss government stepped in to back the bank and then UBS was in a position to take it over, restoring an element of calm around the recent banking crisis. The real problem is how lazy central bankers and governments were, taking the easy ride by keeping interest rates low for so long, allowing cheap money to flood into all sorts of places while stable government bonds were sidelined. They looked really clever, but in reality they got away with doing very little when rates were sub 2% and were praised as genuises - it was bound to cause a disaster eventually, especially now raises are so fast. |
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here a small opinion by my thinking ,
it is obvious we will lose 90% of the time in gambling,
so, think an influencer referred anyone, who is very new to gambling and deposited some money in greed of the welcome bonus provided by casino, then he knew, to claim this welcome bonus he need to wager the required amount to claim the bonus, while wagering he won in starting and he was feeling very happy first day of gambling, and now comes, second day he logged into the site to wager more to claim bonus and after playing some time he lost some money and he started doubling the bet amount to recover his losses, and by doubling bets many times he busted his whole account and made balance=0, and if he is smart enough(many of new are very smart they deposit second time to claim bonus and recover their losses but, not that much smart there eyes become blind by seeing quick profits and losses they do not able to revise that 90% of the time i will lose at this gambling game) and he is smart and deposited second time by deciding that, i will wager the left required amount and claim the bonus then never ever will gamble, but this time also he losed all, then he is depressed and thinking in different way (thinking that i will deposit one more time, when i first tried i doubled my account so this time i will deposit something big amount then previous amount) then this cycle repeats many times , and after all he fall into depression may sometimes many people sell their house and cars and live very bad life and their family also suffer for his/their mistake,
You make a lot of bad points quite frankly. You talk about promoters not telling you the terms and conditions, yet they are plainly found on every single gambling span and can cover many pages of content. It is the responsibility of anyone who is spending money to read them and understand what they're doing, they often agree to this right there on the registration page but only complain when they don't beat the house. You also ignore the fact that everyone who takes part in casinos or gambling in general, thinks they are more clever than these huge companies and that they will somehow get a magical shortcut to massive wealth, that too is the definition of greedy. |
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Do you think social media is now becoming more a place for business than socializing, Could it be as a result of digitalization and things moving online or more people now starting business online because of need to somehow generate income or another source of income for self to survive the economic situations which is becoming tougher?
Social media companies are definitely trying to squeeze in as much advertising as possible to users, but in fairness they have to manage and pay for the upkeep of the site with at least a little profit expected too. However they are also fairly lenient and even encourage the trend of so-called influencers because it draws new visitors in to their site. It's good for the end user or even aspiring newcomers who have the opportunity to fill in new gaps in the market to establish their own brand. There is definitely more opportunity than ever before and once you get through the initial hurdle of establishing a base then it is pretty much a good income from that point if you continue publishing. |
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Gambling or betting is moving beyond just casinos and sports to other sectors of the economy. There is a thread here on betting for the 2024 United States election, and another one for the Oscars. I have seen people bet on movie characters and all sorts of things. This is not to say that they are addicted to gambling. I think we do it for fun, as a form of socializing. While thinking about it today, I wondered what the strangest bet I had ever had was. I remembered having a bet with my brother that he would give me $80 if I could eat 5 packs of 200g of instant noodles in less than 5 minutes, and if I couldn't, I would give him $90. What is the strangest bet you have ever had?
Personally it was betting on the most recent presidential election in the US for Biden and it was a little strange to see the bet settle so late after what should have been a clear outcome. Think the gambling company paid out after a few days but the bet sat in my account for another few months while all the legal wrangling was taking place through the courts. I even remember there were some pretty crazy odds against Trump winning his first presidential election campaign that would have paid off nicely if people took the chance on him at the time. Now though he is too tarnished, bitter and is unlikely ever to make it back successfully into that position again. |
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I don't know if anyone is thinking the same thing, Banks are collapsing and they want to regulate crypto? How is this going to be possible? How can a corrupt system brings a transparent regulation to the crypto space? I think that this regulation is a FAD, the aim behind this regulation is not about saving mankind from crypto rug pulls, I think the plan is to squeeze the life out of crypto because of the attention its getting.
If anything needs regulation, it is CENTRALIZED EXCHANGES only.
Your message is too open ended, there are over 200 countries out there each doing their own thing when it comes to cryptocurrency and they are definitely not all aligned. However if you're talking about countries like the US and Europe, they are already regulating cryptocurrency to some extent, long before these few banks started to fall over. Regulation is the only thing stopping the super rich from sapping every last penny out of the capitalist system, so you should be grateful that politicians are able to create and enforce these laws because the alternative is much worse. Cryptocurrency is definitely not perfect either and ignoring the bad point about it is arguably just as bad. |
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It is not like everyone is going after crypto gambling but after COVID-19 the business of online gambling has increased more than offline gambling. Although fiat online gambling users are more than crypto ones, they tend to visit an offline casino after a few online sessions as they miss the atmosphere of an offline casino.
Whereas cryptocurrency casino users would always be loyal & habitual which makes them more addicted to gambling than a fiat gamblers. Below listed are the three reasons which I think make them more inclined.
1. Immediate gratification:
One explanation could be the immediate and continuous enjoyment that bitcoin gaming offers, whether you win or lose. A cryptocurrency can be swiftly converted into fiat currency or other cryptocurrencies, as opposed to traditional gambling, which typically calls for cash or chips, what I am referring to here is offline gambling. This feeling of immediate satisfaction can increase excitement and encourage players to keep playing.
2. Anonymity:
The amount of privacy gained by gambling with cryptocurrencies is unbelievable! Non-KYC platform, which is common may make some people feel more secure since they can offer a level of secrecy and security that more traditional forms of gambling cannot. This sense of anonymity may make it easier for individuals to engage in risky or addictive behaviors without fear of being judged or identified.
3. Thrill of volatility:
We are all aware of how unpredictable the cryptocurrency market is, with prices varying quickly and erratically. Some people may become addicted to the "high-risk, high-reward" mentality as a result of this volatility. Even though it may result in severe financial loss, they may get high from taking chances and placing large wagers.
Do you guys think my assessment is to the point or do you think there are more reasons related to cryptocurrency gambling addiction? Please go ahead and reply to this thread. If you have a valid point that I think is related to this thread then I would add it to this topic.
None of these seem to be true, any more at least. It's ironic that you list "immediate gratification" yet state that cryptocurrency has to be converted from and to fiat currency, do you not seem the paradox there? You're adding an extra step which would slow things down on both sides of the trade, fiat casinos are way faster in that sense. I'm not sure that anonymity is necessarily a good thing either, because if you are allowed to be anonymous then chances are the casino owner will take steps to be anonymous too, that's all fine when things are going well, but you could wake up one day and find your balance has vanished into thin air. Volatility is also meaningless, because you are already gambling. |
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Why is there so much scarcity of money in different nations of the world, is there any crisis affecting UN's economy? People hardly meet up this days, the government has failed us, the banks are not working, companies and industries has reduced quality of products.
Is affecting so many countries in Africa, America and Europe, the rate of unemployment, insecurities and corruption is becoming alarming by day.
I hope we are save! The common masses are going through a lot in the street, is this kind of inflation era.
Why is money not in circulation please?
What do you mean "UN's economy"? Such a thing does not exist and you have to question whether you have any logic in your post at all. The United Nations is simply a forum where countries gather to share policy ideas and try to resolve disputes. It can also send out peacekeepers and do various other jobs with the support of it's members. What I find with posts like this, full of doom and gloom, is that the writers are at the very bottom of the job market and think that their misfortune applies to everyone. There is lots of money out there, but you have to know where to look, get creative with your ideas and resourceful with all the information that you can gather from the internet. |
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Today I was reading some most successful businessman and other such successful people that are millionaires and also billionaires like Bill gate, Mark Zuckerberg and Other Gamblers that became millionaires because of betting.
My point is that Normal people see only their Success but they do not know that How much dark secrets are behind this.
I want to tell you a story of Successful Businessman in country who is Real Estate businessman and Rich people love to Invest in their housing Schemes. But He Gets access to most valuable land whom he gets it by hook or crook. My mean he Is partially a landlord and he has Done high damage to the poor people and they have lost their homes.
And Normal people do not know these kind of Secrets behind all of this and also on Gambling thing where a very minority of people gets succeeded.
I know that a lot of OP will not agree with me and let's see what are your opinions.
You are jumping all over the place and don't seem to have much clue about your point. You seem to have confused risk taking by the people you name with gambling, however it is a trait that entrepreneurs have and need to go through in order to succeed. Most successful people are successful purely because they persevere, they identify and accept failures when they happen and move on to the next idea or tweak the original one that failed. Land barons do not fall into the same category, often they get such possessions handed down and they do no productive work for the rent that they seek - it's an entirely different class and should be shunned as they are leaches on society. |
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"186 US banks may still collapse in the near future."  In 2019, I made a thread on this forum entitled: Report: More Than 50% of the Worlds Banks May Be Too Weak To Survive A Recession: https://bitcointalk.org/index.php?topic=5195846.0. The topic of whether banks could survive economic downturn propelled by COVID-19 has been on my mind for the last 4 years. Perhaps now we are seeing some of the unfortunate fallout. The narrative of failing banks dates back to the economic crisis of 2008. And even further back to the banking industry becoming increasingly deregulated. It's hard to know what to believe at the moment, as there are other so-called experts who state that banks are much better capitalized in general compared to the 2008 crisis. No recession or crisis tends to be like the others, but the subprime mortgage crisis was a whole different beast and it's hard to compare. What I heard before was that central banks left rates low for far too long, instead of slowly ratcheting them up they had to rush a really sharp spike of rates and now we're seeing the fallout of that. It shows that even the policymakers make very poor decisions if it means they have a comfier job and they don't want to annoy the public. If there are any more bank failures it is going to create ever more jitters. |
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There are people like me who dislike KYC verification requirements from online casinos, and I always have two complaints about it.
1. Why the need for KYC.
2. Why pretend they won't ask for KYC, but ask for verification after a big win.
While my lack of knowledge has kept me away from several big online casinos in this forum, I decided to do some additional research in my spare time.
Some Facts Why KYC Verification is a Necessity For Online Casinos.
~Online gambling businesses have become more attractive since the Covid19 days, more money entered the gambling business, making the attention very noticeable, also a good opportunity for the law to go after them.
~There are penalties on online gambling necks too, they have to implement anti-money laundering procedures just to survive, many online gambling platforms faced the panel in the past and ceased to exist.
~You have no idea how much these companies spend per year just to be friendly to the law and pass criterion regulations and business procedures, it is called intense regulation, to avoid fines.
~The only way these people can avoid the mistake of allowing fraudsters into their system ( gambling platform ) is by having KYC and AML (anti-money laundering ) in place.
~If you see another way that I don't, do drop your comment, because people can't be trusted, they will pretend to be a random online gambler but they have other bad intentions in mind.
From now henceforth, my assumptions about KYC verification from reputable online gambling platforms have changed, I seek for answers and I find them, drop your opinions if you think I am wrong or you think this is not accurate enough.
I think the "Covid effect" where casinos got a bump from many people being bored and staying at home is well and truly over. It's business as usual right now and share prices have declined, so competition is more cutthroat than ever in this industry. That being said, KYC is essential for any decent casino because it will normally mean that they are in a stable jurisdiction which is more likely to protect your money and any winnings that might materialize. You definitely have to be wary of fake casinos seeking to harvest this sort of private information, especially now it's becoming more normalized, people might hand over sensitive documents like passport or driving licence information which can be abused further if it ends up in the wrong hands. |
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Bitcoin is a technology that makes our life easier. It does not melt in the face of inflation like fiat currencies. It frees us from the bondage of banks, as it allows us to transfer money without the need for third parties. It has great features.
- However, despite being a new technology, it has very high energy consumption. However, everyone would like it to consume less energy.
- Also, it has been known and traded for years but still has very high volatility. With this appearance, it scares new investors. Because everyone expected it to have a more balanced price performance.
- World history is full of wars. Perhaps we are living through one of the best periods in history. But because of us homosapiens, our world is very prone to chaos. Coins that do not have an armed force behind them, such as Bitcoin, may be a little unlucky in this regard.
I think these three problems may not be solved and these three problems may prevent bitcoin from being a reserve currency.
What do you think about the subject? Can you share some enlightening information for me?
It's highly unlikely Bitcoin or any cryptocurrency could ever achieve this status, not least because the USA gets a lot of perks from hosting this status and would put up an incredible fight before they relinquish it. They're more likely to ban cryptocurrency outright if the idea of this threat were to ever become real, that would naturally prevent it from happening as they are one of the largest and most dynamic economies in the world. There is another issue that is more likely to prevent it from happening - Bitcoin is too inflexible, sure you can go to infinite decimal places, but that kind of defeats the supposed "zero inflation" ability and the transaction ability is simply not fast enough, plus there will be the ever present danger of a 51% attack or other vulnerability. |
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From my understanding of wrestle mania WWE,I see it as a fixed fight,which there is an agreement of who will win the fight. Despite all these people still buy tickets to watch the fight. I don't see this as a transparent fight,but people still bet on this fight. Is it that they are ignorant of this fight fixing or they are addicted to gambling and just bet on whatever come across them. As a gambler will you bet on such fight,when you know that the fight is fixed and the outcome of the fight is not for real,or will you go ahead to bet for fun?
It's a bit of a dumb concept really, but the only people really pushing it are WWF themselves because they want to host the gambling side of it. There is a massive conflict of interest at the heart of this sort of gambling, because like you say - they define who wins every single match. You could argue it's like betting on a stage show which could have multiple endings, you're not betting on a random outcome or any type of player skill. It will be very misleading and could potentially be penalized in certain countries because they're taking rigging to a whole other level. If you're a true sports gambler then it would not interest you at all and you should simply warn people away from it. |
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To make myself clear, this thread is not about complaint or confusion. Actually, I am more than fulfilled to chase my financial goals. This question only comes when I stop to think about the deep meaning of finance-free. Whether you are young or old, man or woman, money is what keeps you live and live well in the world. Being financial independent and sufficient is everyone's dream. However, have you thought about the losses in exchange for the material gains ? When you barely make ends meet, you'll bust yourself to make more money; when you actually make a lot of money, you'll find yourself in a position that is either stressful or boring. I wonder the purpose of making money can be easily distorted and sometimes we tend to lose ourselves in pursuit of money, instead of happiness. Just a fleeting thought, no big deal.
You definitely need to find a fair balance and a happy medium if you've found the magic ingredients to financial success. You should definitely spend money on important things, like travelling or any hobbies, going for meals out or entertainment like comedy shows. There are some people out there who scrim and scrape every single penny, sometimes at the expense of the people around them, in order to be "financially free", however they then realize they are 45 years old with creaking bones and aching muscles, who no longer have the energy to do all the things they had dreamed of doing with this freedom. You need to live in the moment and explore all the beautiful things life has to offer, which is not all about money. |
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There's a lot of talk in my neighborhood about slot games. It's a little logical when I listen to each of their conversations saying that players will never win until whenever and players will win when they stop being players and become admins.
The sentence that players never win and will only win when players become admins has always been a big question mark. Does anyone know how to become a slot admin?
Admins? You presumably mean the owner of these casino sites which is quite different, they are the biggest winners because admin type roles will only be pulling a salary from being part of the casino staff. At the beginning of cryptocurrency the market was a lot easier to break into and that's how some early companies started on a very low budget. However nowadays you will need millions to get a casino to the point of being super successful and paying for itself. If for no other reason than the moment you are identified as earning a lot of money, you will become a target and have to pay a lot for security to fend off different types of attacks. You'll also need to pay out a lot in terms of welcome bonuses and advertising campaigns, otherwise it will take a painfully long time to become distinguished and in that time if you have found a unique selling point it will be copied. |
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To make myself clear, this thread is not about complaint or confusion. Actually, I am more than fulfilled to chase my financial goals. This question only comes when I stop to think about the deep meaning of finance-free. Whether you are young or old, man or woman, money is what keeps you live and live well in the world. Being financial independent and sufficient is everyone's dream. However, have you thought about the losses in exchange for the material gains ? When you barely make ends meet, you'll bust yourself to make more money; when you actually make a lot of money, you'll find yourself in a position that is either stressful or boring. I wonder the purpose of making money can be easily distorted and sometimes we tend to lose ourselves in pursuit of money, instead of happiness. Just a fleeting thought, no big deal.
It can be quite daunting when you start to get serious about financial freedom and there are generally two aspects that you need to work on. First is learning how all the main financial tools out in the world actually work, somebody is making profit off each of them, you need to figure how how to pay the least on it and gain the most back. This includes credit cards, mortgages, loans, the stock market and much more. It can take years to pick up all the knowledge you'll need and you should try to find lots of different books on these topics, especially the stock market. The stock market is where all the richest people put their money to work and have it return an income that will be way better than anything you can receive from banks in the form of interest. |
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Crazy Time is a unique live online game show built on our extremely successful Dream Catcher money wheel concept. Now the interactive fun and excitement reaches crazy new levels with the chance to add multipliers from the Top Slot in each game round and in four exciting bonus games. Interactive elements and advanced technology make it possible for players to win different multipliers in two out of the four bonus games. Offering live entertainment with added advanced RNG gameplay, Crazy Time offers a one-of-a-kind player experience, and with multipliers up to 25,000x the fun hits a new high![1]
I know that many user here is playing this game so I decided to start this thread since no one is talking about this game anymore. I recently become hook up on this game after watching multiple streamers that playing this game to hunt win. This game is exciting due to its bonus games and additional multiplier round. So far this is still the best game show made by evolution gaming despite there’s a lot of new game coming.
Crazy time also now have 2 live games which named Crazy Time A. This additional new game only means the demand of this game is so massive.
Personal Betting Strategy: Bet on both 5 & 2 consecutively and wait for the multiplier hits to have a huge win. I hate hunting bonus game now since it’s rarely give huge multiplier especially coin flip that always sucks these days. You can use 1 & 10 bet combo too if you want a hard core betting experience.
If I saw that there’s no bonus hit on last 25 games and above, this is the only time when I hunt bonus games because it usually pay massive after a very long non bonus game streak.
Personal High Win: x2000 with 1$ bet on Crazy Time. We got x10 multiplier Crazy Time then hits double one time and x2000 to finish the game. This is massive if I place 5$ bet on it instead of the coin flip.
Favorite Host: Pavel for the win!
I want to discuss with you guys betting strategy, max win you got and your experience playing this game. Feel free to comment below.
It's a bit dumb suggesting a "personal betting strategy" because there is no strategy going on here. Every single time you play the casino has the advantage and if you play for long enough you will lose every single penny in your account. You're basically just running a subversive advertising campaign for a single casino here. This game is syndicated across many different sites, even fiat currency casinos, and does not really offer much in terms of originality. You're really stretching the limits of what counts as content here and this write up must have taken you a little while to get enough content on such a bland topic. |
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The International Criminal Court (ICC) in The Hague has issued an arrest warrant for Russian President Vladimir Putin. The message appeared on the official website of the court on March 17. In addition, a warrant was issued for the children's rights commissioner in Russia, Maria Lvova-Belova.
The ICC suspects both of committing war crimes - forced deportations and displacement of the population, in particular children, from the occupied territories of Ukraine. International law can regard this as genocide. The court's website states that there are reasonable grounds to believe that Putin is personally responsible for the alleged crimes. Now the Russian president has the official status of a suspect in an international crime - the illegal forced transfer of Ukrainian children.
This means that according to this warrant, the local authorities of the countries that have ratified the Rome Statute and recognize the jurisdiction of the court, in the event of Putin's visit to them, must arrest him. This number includes 123 states, including all the countries of Europe, Canada, Australia and New Zealand, all of South America (including Russia's ally Venezuela), as well as a large part of the countries of Africa and Asia, including Japan, South Korea and other leaders of the region . In addition, if necessary and if there is political will, the criminal Putin can be brought to trial and other countries that have not ratified the Rome Statute. The leading countries of the world that do not recognize the jurisdiction of the ISS include, first of all, China, India, Turkey, and Russia itself withdrew its signature in 2016.
The Office of the Prosecutor General of Ukraine previously handed over to the ICC more than 40 volumes of materials – more than 1,000 pages. They recorded the deportation of more than 16 thousand children from Donetsk, Luhansk, Kharkov and Kherson regions. However, the real figure could be much higher. Ukraine has so far managed to return home 308 children.
Now world leaders will think thrice before shaking his hand or sitting down at the negotiating table with him. The world has received a signal that the Russian regime is criminal and its leadership and henchmen will be held accountable.
However, this is only one of the first proceedings of this international court. The day before, it was reported that the International Criminal Court is preparing to open two cases of Russian war crimes in Ukraine: in connection with the abduction of Ukrainian children and deliberate Russian attacks against Ukraine's civilian infrastructure.
It's funny how you see these news stories play out, about a week ago - for no apparent reason - Russia stated that they do not recognize the International Criminal Court. They clearly had someone on the inside feeding them this information, although I don't know how hidden this would necessarily have been. The ICC doesn't have all that much power to enforce this, although it is the right thing to do and are unlikely to get much assistance. It will be more of a voluntarily thing, if Russia eventually comes to it's senses and a new leader comes in who wants to cut ties with the past, they could hand him over. No other country is likely to arrest him because it could consistent an act of war - arresting the active leader of a country. |
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There are some people who can dream and some others who dare to it. Many of those who can dream big but some times can't make it through traditional platforms. Today I will mention the names of some people who started their business life with the help of gambling money. Who were initially professional gamblers later became reputed businessman. Many of whom are now active philanthropists, supporting various charities. If responsible gambling can be practiced then luck can be expended. He can make himself known differently in a shortest possible of time.
Sheldon Adelson- The founder of the Las Vegas Sands Corporation, The Venetian and The Palazzo in Las Vegas and Marina Bay Sands in Singapore.
Kirk Kerkorian- He founded MGM Resorts International, the airline company and Trans International.
Steve Wynn- He founded Wynn Resorts, Wynn Las Vegas and Encore Las Vegas.
Calvin Ayre- Founder of Bodog Entertainment.
Terry Benedict- Founder of BJB Properties.
Tony Bloom- Founder and owner of the Brighton & Hove Albion Football Club and.
Phil Ruffin- Treasure Island Hotel, a casino in Las Vegas and the Wichita Greyhound Park.
If one tries to change the destiny he may succeed or fail but he may get a result. But there are many people in the world who only dream inactively without taking any initiative.
But one should keep in mind that gambling is a risky platform. As there are lot of histories of victory, there will be defeats as well. Use gambling money as much as you can afford to lose.
Let's face it - these guys made these empires on the Las Vegas strip in a much different era and it's almost impossible to break on to the strip now with all these massively established names around. They would also have had a hell of a lot of financial and even political backing because back when they were created it was still very much the era of the "Goodfella's" film with a lot of murky backroom deals taking place. Most likely involving a lot of powerful friends and family because while they make huge money, you certainly need to keep palms of all kinds greased - police, gaming commissions, political campaigns, various unions, etc. Plus the rivalry between them must have been intense. |
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So we all heard now the Fed provided liquidity to all these banks which had tons of unrealized losses due to their bond portfolios.
The fed balance sheet basically erased months and months of declines in the last week due to this. Now my question is will this increase inflation or not?
Because this money doesn’t go to the people to spend. All it does it prevented a customer from losing all their money over $250K. They provided the liquidity and most likely will give the money back once the bonds mature in 10 years time.
What does everyone think of the feds actions?
Lots of people don't seem to understand the nuances going on here and with the bonds that these banks bought. Many of these banks bought bonds (very secure money, but when purchased a couple years ago with a ten year maturity, they paid very little due to the interest rate environment at the time) but now if those banks wanted to sell those same bonds, maybe because.. there was a rush of customers who did not feel their money was safe and acted irrationally all at once, then they cannot sell off these low paying bonds quick enough. That's because you can buy newly issued bonds from the government paying much higher rates. So maybe these banks put too much of their money into these fairly illiquid assets and now struggle to cash out, but besides that they are still solvent - at least until their customers all go crazy at once. |
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It is true that gambling losses can be deducted from an individual's taxes. However, for this to happen the individual must have an up-to-date track record of wins and losses, the dates, type of activity, the addresses of the casinos, canceled bets and receipts(this is for brick and mortar casinos). In my case, I have been gambling exclusively at online casinos which have incorporated account statement and tracking databases for gamblers. If needed, I can request for my yearly statement, which shows how much bet I have placed in that year, the wins, and losses for the year. For experienced people, will this statement alone be enough to prove my gambling loses for tax deduction purposes?
You should really be asking a professional accountant or tax expert, rather than relying on random opinions from an internet forum. Besides that, nobody here can give you a proper answer based on this information alone, because it will heavily depend on what country/state/region that you are in. While it would seem like adequate proof, different jurisdictions can have different standards and may not accept receipts from other places if those gambling companies are not "friendly" towards them. If you have been successful at gambling, you should re-invest some of that money into proper financial advice, otherwise you could end up in a lot of trouble and potentially pay fines far outweighing your gains. |
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