Is gambling a waste of money

Announcements
    • Thread Starter
    Online

    2
    ReputationRep:
    What do you mean
    Offline

    3
    ReputationRep:
    £80 for a jacket is a bargain!
    Either way the odds of winning anything on gambling are against you, the odds of that jacket wlking away five minutes later arent good. So Jacket.
    • Thread Starter
    Online

    2
    ReputationRep:
    Name:  image.jpg
Views: 55
Size:  461.7 KBYeah of course it's a bargain the retail price was £215 it's a Calvin Klein jacket you get what you payed for, trust me gambling is a serious addiction
    Offline

    2
    ReputationRep:
    (Original post by struggler07)
    Name:  image.jpg
Views: 55
Size:  461.7 KBYeah of course it's a bargain the retail price was £215 it's a Calvin Klein jacket you get what you payed for, trust me gambling is a serious addiction
    I cant see the logo though. Imo, i'll only buy an expensive jacket / clothes if the logo is distinct for everyone to see. If you wear that, i wouldn't know its expensive
    Offline

    2
    ReputationRep:
    (Original post by struggler07)
    What's worse if you gamble 40-£60 a day and you don't get nothing back or buying expensive clothes like jackets for £80 a lot
    Gambling is cancer.


    Posted from TSR Mobile
    Offline

    2
    ReputationRep:
    (Original post by DrLovejoy)
    Gambling is cancer.


    Posted from TSR Mobile
    Why? How much did you lose from it?
    • Thread Starter
    Online

    2
    ReputationRep:
    It's at the side of the arm it's a nice jacket though
    Offline

    3
    ReputationRep:
    Nothing wrong with it if it gives you enjoyment and you can afford any losses.
    • Thread Starter
    Online

    2
    ReputationRep:
    Biggest waste of time and money why do you say it's like cancer btw
    • Thread Starter
    Online

    2
    ReputationRep:
    It's like throwing money away, it's a bad addiction the money you've wasted could be used elsewhere
    Offline

    2
    ReputationRep:
    (Original post by struggler07)
    It's like throwing money away, it's a bad addiction the money you've wasted could be used elsewhere
    Why do you assume people can't gamble recreationally? It's also not throwing money away if you win


    Posted from TSR Mobile
    • Thread Starter
    Online

    2
    ReputationRep:
    It's on the right or left arm
    • Thread Starter
    Online

    2
    ReputationRep:
    What if you spent like £100 but can't afford to live trust me it's gonna be hell
    • Thread Starter
    Online

    2
    ReputationRep:
    What if you do it everyday end up losing like over £1000 a month, I guess it's okay once in a while
    Offline

    3
    ReputationRep:
    (Original post by Persipan)
    It's like any other kind of entertainment. That's like asking whether going on holiday is a waste of money, or going to the cinema, or whatever - the answer depends on the individual and their circumstances; and how much value they place on whatever level of enjoyment they get from it.
    That's a reasonably good answer,however it's not that simple.

    Because the majority of gamblers* aren't getting as much pleasure out of it as they think they are but even if anyone doesn't believe that, gamblers are among the worst people for self knowledge so the idea that they can make informed choices as to the value of what they are doing is doubtful.

    Notwithstanding that however,there is an interesting 'paradox' to this gambling question.

    Those gamblers who are betting in the way they are advised to do so in books and on forums and gambling advice websites are nearly all wasting not only their money but something more precious,time.

    But those gamblers who like to have £5 or £10 accumulators each week and don't do anything else are probably getting value for money even though they will lose 40% + of their stakes.

    This is because they invest little time but receive a great deal of utility from the anticipation of their bet and the sheer excitement afforded them in the time it takes for one of the selections to go 2-0 down.

    Most gambling,if done 'properly'involves a great deal of tedium while affording little chance of regular profit.


    * at least I think the majority bet mainly singles,could be wrong.
    Offline

    3
    ReputationRep:
    (Original post by Ano123)
    Gambling can be fun, I was going to put £10 on Leicester to win the league, I think the odds were around 70/1. Never did it in the end because people say it won't be worth it, well I wish I had now. I'd be £700 up. Would have made the end of the season more exciting too.
    Betting on long term markets is definitely a good way to spend £10.

    Even if Leicester had failed to win its very likely that you would have gained more than '£10 worth ' of pleasure from the bet.

    Of course Leicester was an outlier but a £10 bet on sensible selections usually provides a great deal of interest and entertainment without incurring the dubious aspects of gambling.
    Offline

    3
    ReputationRep:
    (Original post by I feel myself)
    Go say that to that guy who put £5 on Leicester last season and won £250,000
    Best to wait 10 years to see whether he gambles it all away again.
    Offline

    3
    ReputationRep:
    (Original post by Betelgeuse-)
    Wrong. You wouldnt say spending £10 on a cinema ticket is a waste of money, neither would somebody placing it on a football match of which he would not have had previous interest
    Paying £10 to watch 99% of movies is indeed a waste of money.

    I didn't even know it cost that much.
    Offline

    3
    ReputationRep:
    (Original post by Associativity)
    You'll never (or as good as never, incredibly unlikely) make a profit in the long run, the odds ect will almost guarantee this. They are a business like any other, they're in it to make money. If you could really go there every day and stand a realistic chance of leaving with more than you came with, then they'd have gone bust pretty quickly. I personally wouldn't find emptying my pockets into a fruit machine every day particularly entertaining. Each to their own, but I think I'd rather get a hobby, and spend the money on something useful instead. Or you could save up for a holiday, do some sports, go out for a meal, go to a cinema/music concerts, and get out and enjoy yourself with friends instead.
    Many bookies have in fact gone bust or out of business over the last 40 years.
    Offline

    3
    ReputationRep:
    (Original post by struggler07)
    My mums a gambling addict who lives on benefits she can't pay all her debts and bills, she was overdrawn by a grand life's hard on benefits
    May I ask what form of gambling she is addicted to?
 
 
 
Write a reply… Reply
Submit reply

Register

Thanks for posting! You just need to create an account in order to submit the post
  1. this can't be left blank
    that username has been taken, please choose another Forgotten your password?
  2. this can't be left blank
    this email is already registered. Forgotten your password?
  3. this can't be left blank

    6 characters or longer with both numbers and letters is safer

  4. this can't be left empty
    your full birthday is required
  1. Oops, you need to agree to our Ts&Cs to register
  2. Slide to join now Processing…

Updated: October 10, 2016
TSR Support Team

We have a brilliant team of more than 60 Support Team members looking after discussions on The Student Room, helping to make it a fun, safe and useful place to hang out.

Poll
Do you think sex education should be compulsory in schools?
Useful resources

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Quick reply
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.