gambling in atlantic city

[stevel96a1]

my last trip from resorts i saw table min bets from 25$blackjack and roulette tables 15min bets.
and it is busy, so i asked myself people with lots of money gamble it away? then i asked do they come back for more? where do gamblers get their money? from their jobs? what are there jobs is the next question? doctors?lawyers? no they are too smart for that? or are they? it certainly can't be burger flippers or can it? the question rages on like the chicken or egg which came first but i degress, where do gamblers get their bankroll? walk in any big name gaming house in ac and the pit is crowded 9 times out of 10 there is no winning so they lost their shirts(90% of them)

is 80% of the world poor? or am i just seeing the 10% wealthy in casinos? coming from a middle class family i always beg the questions.

[tech58]

steve maybe the "unemployed crowd" making more, at state unemployment plus $600 federal, than they did working has an "easy come easy go " mentality.
Sad part is that it is your money and my money that their p!!ssing away!!

[olds442jetaway]

That was is it verified by people in the know at the casinos. The Indians get another free pot of gold early in the year when the huge IRS earned income credit refunds in the 5 k range start rolling in. Its a whose who of single parents with kids.....who got the latest tattoo, pre covid, who was taking a trip to Cancun, who is stocking up on booze, cigarettes, and who is blowing it by gambling and buying 14 buck drinks at the casino. Very few responsible ones save for a rainey day which will surely come or put it away for their children’s education. I guess they figure this stuff is on Uncle Sap’s dime, so I guess the education stuff will be too. And they are probably right. Also there is still the huge underground economy. Lots of that income goes right to the casino as well. By the way, many of the ones that do or did work were smart enough to structure their hours to take full advantage of both the 600 Fed freebie and get their full state unemployment checks as well.

[stevel96a1]

steve maybe the "unemployed crowd" making more, at state unemployment plus $600 federal, than they did working has an "easy come easy go " mentality.
Sad part is that it is your money and my money that their p!!ssing away!!

true but even before the extra 600$ people come in droves like that girl on facebook doing a fake sex chat, sure they came in droves donating 5$ but again i digress, the gaming houses in ac/vegas are always busy weekdays filled with gamblers at the table and weekends its more crowded/busy

how are they renewing their income?
just that stinkin rich?
new people each day?
are they winning?
questions on top of questions never help?

[billryan]

Some people have good jobs, and great incomes. Most of my friends children make way more than we did at the same age. They don't waste money on things like rent or buying a new car every few years.

[olds442jetaway]

I find the same. Some people will just spend every dime that gets into their hands. They will not only rent at a price that might be double what their mortgage would be, or both husband and wife will have big car payments. They usually carry credit card dbt as well and think nothing os spending 100 bucks for a dinner for two. Each to his/ her own I guess.

[notes1]

They don't waste money on things like rent ....

nothing like consistent investment advice. consider the source, when deciding who to listen to.

[onemoretry]

They don't waste money on things like rent or buying a new car every few years.

Does that mean they live with their parents, and borrow their car when they need one?

[billryan]

They don't waste money on things like rent or buying a new car every few years.

Does that mean they live with their parents, and borrow their car when they need one?

Yes, they live with their parents and pay rent to them. It's win win for all involved. By helping their parents out, they are preserving the family wealth for the next generation-which happens to be them.
Living in NY, it's easier and cheaper to take public transportation and uber than dealing with the hassles of owning a car. My nephew lived at home until he was married, at about 32. I didn't understand it myself until he paid 1.2 million cash for their new house in Rockville Center.
it's not for everyone but for the unfortunate people stuck in those big cities that are falling apart and burning down every day, it is a way to go. Anitfa can't destroy your car if you don't have one.
It's a shame old folks keep getting stuck in the past, reguritating formulas that are as out of date as they are out of touch.

[notes1]

why in the world anyone would take financial advice from BR is beyond me.