Mind Blown Gambling Facts

[xSkylarx]

Slot machines as we know them today only ever give away cash – if we’re lucky enough. However, believe it or not, the original models built in the US towards the end of the 19th century used to dispense gum and tokens. It’s thought the reason why you see fruit on the reels – and why they are often referred to as fruit machines – is as a result of fruit-flavoured gum!

Source: factcity.com/facts-about-gambling

Now we all know we all thought it's just a random image picked by the manufacturer it used to be the prize for winning the slot maybe the operators change it to cash instead because they are not attracting users anymore because and they don't want gums and tokens as the prize, and it evolved int a multi million dollar industry, it's probably one of the popular games in a casino.

Money as a prize would really attract a lot of customers thinking that you can earn just by playing on that slot machine. But gamblers don't realize that it's more about luck to get that prize, it just causes a bad effect on some of them who got addicted and almost spend all of the money they earned.

[freedomgo]

Most casinos will tell you that the Martingale Strategy will not work on their games, because their games are "Provably Fair" - So no strategy should work in these casinos. 

No casinos would say that, they will say you will win so you'll be entice to gamble more, and there's no relationship on using the martingale strategy to "Provably Fair" system, I just don't get it. Martingale strategy will never work against casinos even if you have an infinite bankroll because they know how to limit bets, they are smarter now, that's their business so they would not allow someone to take advantage and beat their system.

[kramchers]

Speaking of being lucky one in terms of gambling online, I think all of us who are a gambler is entitle to become like that, isn't right?
We all know that in every casino gambling no one can tell us to win always, Because no matter how lucky you are in the gambling once the
bank roll owner of the gambling choose you to win or lose they will always give you a portion of losing for sure as a players.

[ethereumhunter]

Speaking of being lucky one in terms of gambling online, I think all of us who are a gambler is entitle to become like that, isn't right?
We all know that in every casino gambling no one can tell us to win always, Because no matter how lucky you are in the gambling once the
bank roll owner of the gambling choose you to win or lose they will always give you a portion of losing for sure as a players.

Yes, we have the chance to become like that. But the problem is we don't know when we can have luck in the gambling games. Many people are chasing their luck in the gambling game without calculating how much money they will lose. They think that even if they lose, if they can win a lot of money, that still worth doing. They will not know that the casino will not let you win that much money unless you have big luck and can withdraw the money.

[gabbie2010]

A gambler named Archie Karas went to Las Vegas with $50, gambled it up to $40 million over the next two years, only to lose it all in three weeks. Source

How about this one? Who thought that winning is gambling is not possible, damn, small capital to $40 million, must be a gifted gambler, I wonder if there are many of them in the planet.

Though it's possible, but we should not think that this would happen to us, winning in gambling is not just for everyone.
In fact, winning is only for few people while casinos always makes money at the end of the day.

Losing your sacrifices and efforts to earn a $40 million in two years and lose it in just  three weeks was so terrified. In gambling it will surely have a 50/50 chances of probability of winning and losing but it doesn't mean that we win once we will become a winner in our every game. And i guess earning that huge amount of profit in two in gambling doesn't define you already as a good gambler. There are some missing piece of our past experience that we should to look back to be able to become good.

This is also a sign of impulsive or addicted gambling else why when you have made millions and would bet so much that you end up losing like 40 million unless made 1000+millions and lose out 40 million then that is fine, else it is simple thing like I would just play say 5% of the total win amount and rest could be used for my remaining life and other stuff.

This is quite a touching story the state of addiction of such a gambler is highly unimaginable and unspeakable, how lucky he is winning such a whooping huge amount of money while losing it again while gambling blindly without caution, the aftermath of losing such a huge amount of money is going to affect him emotionally and psychologically till the end of his life.
The best bet was that he should have walked away after winning and call it a quit in gambling while investing massively in any profitable business instead gambling lavishly again in a bid to win huge sum of money, this is indeed a big lesson to any new lucky winner to quit once hit jackpot.

[Betwrong]

A gambler named Archie Karas went to Las Vegas with $50, gambled it up to $40 million over the next two years, only to lose it all in three weeks. Source

How about this one? Who thought that winning is gambling is not possible, damn, small capital to $40 million, must be a gifted gambler, I wonder if there are many of them in the planet.

Though it's possible, but we should not think that this would happen to us, winning in gambling is not just for everyone.
In fact, winning is only for few people while casinos always makes money at the end of the day.

Losing your sacrifices and efforts to earn a $40 million in two years and lose it in just  three weeks was so terrified. In gambling it will surely have a 50/50 chances of probability of winning and losing but it doesn't mean that we win once we will become a winner in our every game. And i guess earning that huge amount of profit in two in gambling doesn't define you already as a good gambler. There are some missing piece of our past experience that we should to look back to be able to become good.

This is also a sign of impulsive or addicted gambling else why when you have made millions and would bet so much that you end up losing like 40 million unless made 1000+millions and lose out 40 million then that is fine, else it is simple thing like I would just play say 5% of the total win amount and rest could be used for my remaining life and other stuff.

This is quite a touching story the state of addiction of such a gambler is highly unimaginable and unspeakable, how lucky he is winning such a whooping huge amount of money while losing it again while gambling blindly without caution, the aftermath of losing such a huge amount of money is going to affect his emotionally and psychologically till the end of his life.
The best bet was that he should have walked away after winning and call it a quit in gambling while investing massively in any profitable business instead gambling lavishly again in a bid to win huge sum of money, this is indeed a big lesson to any new lucky winner to quit once hit jackpot.

From what I read, Archie Karas won most of his $40 million through poker, a skill based game(at least partially), and he lost most of it through dice and baccarat, purely luck based games. At one point, no one wanted to play poker with him, because Karas was known as unbeatable poker player and the stakes were high, so he turned to luck based games, and that's how his downfall started.

When you won $40 million and no one dares to play with you, isn't it a perfect time for retirement?

[deisik]

When you won $40 million and no one dares to play with you, isn't it a perfect time for retirement?

Yeah, you retire straight to dice

But seriously, if you have been doing something through your entire life (let's call it your true calling) and got quite good at it (money being only your secondary priority), how do you expect to quit and switch to something totally different? As I see it, it is next to impossible in practical terms. Maybe he should have started teaching poker, written a book or something. But then again, it might not be his cup of tea at all

[ice098]

Slot machines as we know them today only ever give away cash – if we’re lucky enough. However, believe it or not, the original models built in the US towards the end of the 19th century used to dispense gum and tokens. It’s thought the reason why you see fruit on the reels – and why they are often referred to as fruit machines – is as a result of fruit-flavoured gum!

Source: factcity.com/facts-about-gambling

Oh that's why they are look the same, also in 777 slot machine it shows some fruits in the designs that you must need to pair the 3 or 5 of it diagonally, horizontally or vertically, but does the idea from fruit machine and our new slot machine came from same person? or originated in the same country? I am just curious about this one, since I enjoy playing this thing although most of the time I am losing.

[Filicius]

• A British gambler sold all of his possessions, including all of his clothes, and bet $135,300 on red for a single spin of a roulette wheel in Las Vegas and won. Source

LOL!! This one is my hero!!

But just because he won, in the case he lost he wouldn't

It reminds me that family who sold his house and most of their things to buy Bitcoin at ATH and went to live in a camping tend. From time to time appear such hardcore gamblers.

(BTW, I really hope this family has hodld through all this time and they have recovered their investment).

[Natsuu]

Slot machines as we know them today only ever give away cash – if we’re lucky enough. However, believe it or not, the original models built in the US towards the end of the 19th century used to dispense gum and tokens. It’s thought the reason why you see fruit on the reels – and why they are often referred to as fruit machines – is as a result of fruit-flavoured gum!

Source: factcity.com/facts-about-gambling

Oh that's why they are look the same, also in 777 slot machine it shows some fruits in the designs that you must need to pair the 3 or 5 of it diagonally, horizontally or vertically, but does the idea from fruit machine and our new slot machine came from same person? or originated in the same country? I am just curious about this one, since I enjoy playing this thing although most of the time I am losing.

I think this would answer your question.

"The first slot machines in the modern sense were invented by Bavarian-born American inventor Charles August Fey, at the time a mechanic in San Francisco, who built his first coin-operated gambling machine in 1894. The following year Fey built the 4-11-44 in his basement; it proved so successful at a local saloon that he soon quit his job and opened a factory to produce more units. In 1898 Fey built the Card Bell, the first three-reel slot machine with automatic cash payouts."
-https://www.britannica.com/topic/slot-machine

Although this was only in the US, the first-ever slot machine according to that site, happens to be invented in Great Britain by of course, a different person.

[Mauser]

• A British gambler sold all of his possessions, including all of his clothes, and bet $135,300 on red for a single spin of a roulette wheel in Las Vegas and won. Source

LOL!! This one is my hero!!

But just because he won, in the case he lost he wouldn't

It reminds me that family who sold his house and most of their things to buy Bitcoin at ATH and went to live in a camping tend. From time to time appear such hardcore gamblers.

(BTW, I really hope this family has hodld through all this time and they have recovered their investment).

That's some serious gambling right there. I wouldn't have the guts to go all in like that. Luckily for them it paid off really well. Honestly if someone can live like that it's 100% deserves that their gambling pays off. For me I am just too risk averse and always try to hedge my bets.

[Crptomagma]

I’m happy to read this post as I have learned a lot from it. This post is informative and well documented especially Number 1. Now i have an idea of how gambling started and it’s source.
Knowing that gambling is as old as man and it’s origins is far back the BC, according to these post at some point even the priest was on support of gambling activities. I will look out for more ancient history of gambling.

[Viscore]

I’m happy to read this post as I have learned a lot from it. This post is informative and well documented especially Number 1. Now i have an idea of how gambling started and it’s source.
Knowing that gambling is as old as man and it’s origins is far back the BC, according to these post at some point even the priest was on support of gambling activities. I will look out for more ancient history of gambling.

Good to hear that mate and so no reason that you blame others because you lose in gambling but just yourself.

You're right, gambling started a very long-time ago and it was just transformed into a modern and interesting look. Gamblers still get back even they lose a lot because they don't stop thinking about winning the jackpot prize. But it was very unfortunate that these people never have the luck to win and even they get back in gambling a million times, they will still not win.

That, if we are here in gambling for the chase about winning, it is better not to do it instead, just to enjoy the day.

[Natsuu]

~~SNIP~~

From what I read, Archie Karas won most of his $40 million through poker, a skill based game(at least partially), and he lost most of it through dice and baccarat, purely luck based games. At one point, no one wanted to play poker with him, because Karas was known as unbeatable poker player and the stakes were high, so he turned to luck based games, and that's how his downfall started.

When you won $40 million and no one dares to play with you, isn't it a perfect time for retirement?

It is a perfect time for retirement, but the case is how will he retire. I guess the feeling of being a gambler resides within him, that he loves the feeling of putting something in line for a game. He may sound crazy, but it is understandable in his case. It is like the war veterans, still looking for the feeling of war even though the war already ended.

[l3pox]

wow, quite interesting and informative thread, thanks

37 is a great way to shred some light on how gambling can be a problem for the nation
in the end we want people to be allowed to gamble but not to loose theirselves into it.

after Australia, Singapore is not so far behind.
here you can find a top 10 list of the biggest gamblers:
https://www.worldatlas.com/articles/countries-that-gamble-the-most.html

Ireland and Canada comes just after

here we can find some stats on gambling worldwide too.
I'm impressed on how fast it is growing.
https://www.casino.org/features/gambling-statistics/

[FontSeli]

Many gamblers are trying to follow that luckiest gambler by playing more and more, but they forgot that the luckiest gambler has big luck, which can help him win huge jackpots. Not many gamblers can win that huge jackpot without having luck.

A gambler who is still playing gambling because of that story should have control over himself because if he didn't manage his control, he would lose his money at any minute. The passion for winning the jackpots will become bigger, especially if he can win more than 4 times. If his control is strong, he will know that his luck will never stay with him and help him get another win. He will stop playing gambling instead of continuing playing gambling.

Luck really works wonders. The same lottery is often won by people who accidentally bought a lottery ticket for change at a gas station. At the same time, there are people who have been purposefully playing lotteries for years in the hope of a big win, but they naturally do not succeed.

[shoreno]

Many gamblers are trying to follow that luckiest gambler by playing more and more, but they forgot that the luckiest gambler has big luck, which can help him win huge jackpots. Not many gamblers can win that huge jackpot without having luck.

A gambler who is still playing gambling because of that story should have control over himself because if he didn't manage his control, he would lose his money at any minute. The passion for winning the jackpots will become bigger, especially if he can win more than 4 times. If his control is strong, he will know that his luck will never stay with him and help him get another win. He will stop playing gambling instead of continuing playing gambling.

Luck really works wonders. The same lottery is often won by people who accidentally bought a lottery ticket for change at a gas station. At the same time, there are people who have been purposefully playing lotteries for years in the hope of a big win, but they naturally do not succeed.

there was a girl i saw on a tv documentary and she was betting on the lotto for over 10 years. she only won last few yers ago and she estimated that she spend a big amount over millions but in a local fiat value not in usd . a million value worth of local currency is already a big amount to them and your already considered as a millionaire if you have that  . she still won big despite of the huge spending of lotto tickets because the prize that he won are close to billions also in local fiat form .

moral of the story is that you can win if you keep on trying even if you are destined to be the luckiest .

[Betwrong]

When you won $40 million and no one dares to play with you, isn't it a perfect time for retirement?

Yeah, you retire straight to dice

But seriously, if you have been doing something through your entire life (let's call it your true calling) and got quite good at it (money being only your secondary priority), how do you expect to quit and switch to something totally different? As I see it, it is next to impossible in practical terms. Maybe he should have started teaching poker, written a book or something. But then again, it might not be his cup of tea at all

Yes, that would be a good option for him, imo. Although I personally think that it's impossible to teach poker, because this game is evolving all the time, and a strategy that could be good 5 years ago is no longer a good one today. But forget about what I think, people are always willing to learn from the best, and since Archie Karas was the best at the time, he would never be short of students. And regarding writing a book, even if it wasn't exactly "his cup of tea", a man who turned $50 into $40 million, could definitely produce a bestseller in co-operation with a good writer.

But he thought that gods of luck were favoring him, and that's why he turned to purely luck based games like dice and baccarat, to be winning even more and faster... And that's how he lost it all.