• Lost A Ton Of Money At Casino In New Jersey
• Lost A Ton Of Money At Casino In California
• Has A Casino Ever Lost Money

Lost A Ton Of Money At Casino In New Jersey

“I’m so poor I can’t even pay attention.”
–Ron Kittle

Almost everyone has to deal with loss at some point. Whether it’s the loss of a loved one or the loss of a dream, we are faced with the ripping away of something which we held dear to ourselves.

The Washington Post. Democracy Dies in Darkness. Economic Policy. Amtrak loses a ton of money each year. It doesn’t have to. March 1, 2013 at 3:58 p.m. Amtrak is coming.

When we are faced with a significant financial loss, we go through the same suffering and grief, but we also want to react, to fight back. Whether it’s because of an overinvestment in one particular stock which tanks or because of a big medical or legal bill, we are faced with the cognitive dissonance between what we thought was possible and the reality that we now face. We’re also tempted to believe that we can get it back as quickly as we lost it, which is a fallacious belief. It took time to build up what we had, and while it was quickly lost, it will not be quickly rebuilt.

The most common emotion when faced with loss is anger. Those feelings are most likely to spill over into aggressive behavior such as lashing out. Furthermore, as a Boston College study shows, we’re much more likely to respond to rewards than to threats when we’re angry, so the prospect of taking inordinate amounts of risk to quickly recover what we’ve lost is much more appealing than when we rationally look at the situation.

The sooner we can accept and embrace that there is no quick recovery from a sudden financial loss, the more likely we are to actually recover from the loss and move on. Here are some things to consider if you’ve faced a sudden large financial loss:

• Don’t make any sudden financial moves. Emptying out your IRA or 401(k) to make up the difference will cause even more problems in the long run. You’ll have to pay taxes and you’ll also probably have to pay early withdrawal fees. You’ll make a bad problem worse through compounding your expenses.
• Change your mindset and reduce your lifestyle. The first step in changing your mindset is to mentally step back. A University of Michigan study shows that engaging in a mental exercise of imagining that you’re an observer to the scene rather than the participant will help reduce the feelings of anger. That money is gone and is never coming back, and you can’t keep living as if it was there to be a backstop. Slash your expenses. Redefine your “needs” and cut down to essentials. You can build back to where you were, but you have to plug your leaks right away. If you have kids, you need to explain to them what’s happening and you also need to reassure them.
• Look for additional sources of income. The quickest way to fill the hole is to get a bigger shovel to put more dirt into it. You may also wind up finding something better than you have or starting a new business which grows beyond what you expected.
• Talk about it with loved ones. You just had a big loss. It’s OK to be stunned by it. There will be some real feelings of hurt and anger and disappointment. Bottling up those emotions will give them nowhere to go and prevent you from releasing them to move on. It will also help you to start to objectively examine what caused the loss and what will prevent a future loss.
• Focus on the present and the future. What is in the past cannot be undone. Take a walk. Appreciate the fresh air, the open sky, the flowers. Envision an even better future. Write down the things for which you are grateful. Come up with ideas for how you’re going to move from the present to the envisioned future. Every morning, write down ideas for moving from the present to the envisioned future. It will be difficult at first, but it will get easier over time, and eventually, you’ll write down the idea which will work for you.

Unless you’re Mark Zuckerberg, who, while he lost several billion on the day of the Facebook IPO still was worth billions of dollars, a significant financial loss is going to hurt you, financially, emotionally, and spiritually. Address all of the aspects of the loss so that you can move on. In baseball, there is no six run home run. In football, there is no twelve point touchdown. In soccer, there is no goal worth two or three normal goals. When you find yourself behind, chip away bit by bit. Celebrate small goals and small milestones and give yourself a reason to look forward instead of backwards.

If you ask 100 different people to give you their opinion about casinos, you’ll most likely get 100 different answers. Fans of the gambling experience will talk about the highlights, while detractors will mention the negative aspects. Because of this, there is a ton of misinformation out there revolving around the world of casinos.

But, in all actuality, casinos are quite simple. Like any other business, there are good and bad attributes. It’s up to you to decide if the good outweighs the bad and if they’re worth your time. The only way to find out is actually to visit one. But, before you go, here are 7 common misconceptions about casinos.

Casinos Are Too Expensive

One of the most inaccurate ideas people have about gambling for real money is that it’s too expensive. These thoughts are usually perpetuated by people who have negative experiences gambling. While casinos are in the money-making business, you’re always in control of how much money you want to spend.

The standard casino caters to gamblers from every single tax bracket. That means the minimums and maximums at the tables can be as inexpensive as $5 or upwards of thousands of dollars. Additionally, slots can be a cheaper alternative to other types of games around the casino.

While casinos can appeal to people who are money conscious, it is possible to spend more money than you intend. If you’re a new gambler, this is particularly true for you. The gambling experience is full of highs and lows, and if you aren’t careful, you can lose track of time and money. But, if you practice self control, gambling shouldn’t cost you an arm and a leg.

Only Degenerates Go to Casinos

Lost A Ton Of Money At Casino In California

There is a stigma that exists around gambling and the type of people who frequent casinos. This is most likely due to the fact that gambling is illegal in the majority of states. However, restrictions will continue to be loosened within the next few years, and that stigma should evaporate over time.

While there might be some occasions where you run into the worst gamblers in the casino, it isn’t all that common. Mostly, casino-goers are just like you and me: average people trying to enjoy themselves and maybe even make some money.

You Can’t Win Money at Casinos

You’ve probably heard the expression, “the house always wins.” While it’s true that the casino has an edge the majority of the time, it’s not impossible to win money. Most games are based on luck. Because of this, there’s always the chance that luck could be in a particular gambler’s favor.

If everyone lost money at the casino, the gambling industry would be in shambles. While it’s true that a majority of people lose money when they gamble, winning isn’t out of the question. To win, gamblers either need to be on the receiving end of good fortune or play the games skillfully.

You Can’t Have Fun at Casinos if You Don’t Gamble

For the average person, the main reason to travel to a casino is to gamble. The table games and slot machines are the attractions that entice a majority of patrons. But, just because someone doesn’t intend to spend money on games doesn’t mean they can’t have fun at a casino.

Some of the most fun I’ve had at casinos has come watching other people gamble and win or lose money. At their core, casinos are simply sources of entertainment. When money is on the line, emotions are high, and people behave differently. Sometimes, watching people gamble is even more money than gambling yourself.

There’s no issue with being scared to lose money at the casino. In fact, if you walk in with that mindset, it’s best to avoid gambling altogether. That doesn’t mean you can’t have fun. Casinos typically offer other forms of entertainment for guests. There are usually bars, restaurants, sports on TV, and other attractions for the non-gambling types. I’m of the mindset that everyone should go to a casino at least once, so don’t avoid them just because you’re not gambling.

Casinos are Rigged

One of the most common criticisms about casinos I hear is that all the games are rigged. These detractions typically come from a few of the same types of people. The first type is those who have lost an incredible amount of money and are resentful. The other is someone who most likely never gambled a day in their life.

This common misconception usually stems from the fact that every game is slanted towards the house. Like digital slot machines, some games also scare some people because there’s no way of knowing how often the game will win. However, with games like blackjack, craps and roulette, rigging games would almost be more trouble than it’s worth. Additionally, if a casino got caught cheating, it would sacrifice its reputation and lose a majority of business.

Casinos are Exactly Like They Appear in Movies

Has A Casino Ever Lost Money

Most people’s opinions of casinos are influenced by what they see on television and in movies. Typically, casino movies present a world where everyone is in tuxedos and fancy dresses while sipping expensive drinks. It seems like every few seconds, someone wins big at the tables or hits the jackpot in slots. Hollywood’s depiction of a casino couldn’t be farther from the truth.

A standard casino will usually be full of ordinary people. Instead of tuxedos, patrons typically wear their everyday garb and drink their usual beverages. While someone might occasionally win a fair amount of money, those wins are less frequent than you would imagine.

That’s not to say that casinos aren’t exciting, but certain movies tend to glamorize the gambling experience. Several luxury casinos around the world might meet those expectations. But, there’s usually more fun to be had at the less ritzy casinos.

Gambling at Casinos Is a Waste of Time

Every person has a right to do whatever they want in their free time. As long as that activity doesn’t compromise the happiness and well-being of another person, no one should take exception. However, because of that stigma around the world of gambling, professional gamblers might draw the ire of uninformed detractors.

The only time gambling is a waste of time is when you don’t enjoy yourself. If you come to the point where you’re getting frustrated with losing or something of that nature, then you should consider a different activity.

Conclusion

Gambling is a polarizing topic that everyone seems to have an opinion about. For the most part, people either hate gambling or love it; there’s not really a middle ground. If you don’t experience the world of casinos for yourself, there’s a chance you could believe some of these misconceptions.

Don’t fall into the mindset that casinos are too expensive to be enjoyed. As long as you’re responsible with money and gamble effectively, there’s a chance you won’t spend any money at all. Contrary to popular belief, casinos aren’t full of outlaws and degenerative gamblers. Instead, the average gambler is a normal, balanced individual out for a night of entertainment.

There’s always a chance to win money at casinos, and games certainly aren’t rigged. Don’t avoid gambling just because you think you’ll lose money. But, if you don’t have a desire to gamble, there’s still other forms of entertainment inside casinos. Everyone should visit a casino at least once in their life. Even if you think it might not be for you, you’ll never know until give gambling a shot.