Luck and Gambling
In play there are two pleasures for your choosing;
The one is winning and the other — losing.
Byron, Don Juan, Canto XIV
Gambling* is the wagering of money or something of material value (referred to as “the stakes”) on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods. Typically, the outcome of the wager is evident within a short period.Back in 2006 Congress passed the Unlawful Internet Gaming Enforcement Act. That act made it illegal for financial institutions to transfer funds between gamblers and online-gambling sites.
From The Economist
Some companies promptly pulled out of the American market. But others stepped in, and the opportunities to bet online have expanded elsewhere in the world. So, after a brief dip, Americans are now betting online about as much as they did four years ago. The Justice Department still maintains that online gambling is illegal, yet large numbers of Americans carry on regardless. The reason is simple: anyone who wants to gamble and has an internet connection can do so.
Obviously many people want to gamble. Gambling is also a major international commercial activity, with the legal gambling market totaling an estimated $335 billion internationally in 2009. Nearly two-thirds of that came from lotteries and casinos. Gambling in casinos is growing fast in East Asia, particularly Macau, the world’s biggest market.
Many places, local as well as national, either ban or heavily control gambling. Such regulation generally leads to gambling tourism and illegal gambling in the areas where it is not allowed. The involvement of governments, through regulation and taxation, has led to a close connection between many governments and gaming organizations, where legal gambling provides significant government revenue, such as in Las Vegas, Atlantic City, Monaco or Macau.
United States Gambling
Under US federal law, gambling is legal in the United States, and states are free to regulate or prohibit the practice. Gambling has been legal in Nevada since 1931, forming the backbone of the state’s economy, and the city of Las Vegas is perhaps the best known gambling destination in the world. In 1976, gambling was legalized in Atlantic City, New Jersey, and in 1990, it was legalized in Tunica, Mississippi; both of those cities have developed extensive casino and resort areas since then.
Since a favorable U.S. Supreme Court decision in 1987, many Native American tribes have built their own casinos on tribal lands as a way to provide revenue for the tribe. Because the tribes are considered sovereign nations, they are often exempt from state laws restricting gambling, and are instead regulated under federal law. Additionally, almost all states have legalized gambling in the form of a state-run lottery and most states allow for limited non-profit organizations to host Bingo nights.
A guy is down on his luck. He takes his last $500 and goes to Las Vegas.
Overnight, he has a fantastic run of luck. He stumbles out of the casino and finds a pay phone. He calls his wife and says, “Honey, pack your bags. I just won over a million dollars in Vegas.”
His wife says, “That’s wonderful. What should I pack for…Europe, the Caribbean?”
He says, “Honey, I don’t care, just be gone when I get home.”
Poker Odds Question
Poker frequency/luck calculator?
Basically I’m trying to find the odds in the game. For example if you played 1000 hands, how often would you end up with a pair, two pair, three of a kind, straight, flush ect… It would really help if someone gave me a link or anything at all.
Suzi Q answers:
With a 5 card poker hand and no draw cards, there are 2,598,960 possible hands.
1,098,240 of those will be “one pair”
123,553 ” “two pair”
54,912 ” “three of a kind”
10,200 ” “straight”
5108 ” “flush”
3,744 ” “full house”
624 ” “four of a kind”
40 ” “straight flush”
This gives you a rough idea of how frequent the various hands occur. But in most poker games, there is various betting rounds followed by additional cards which can make things more complicated. But at least you’ve got an idea how frequent you can expect various hands to occur.
Good luck quotes? Please read!?
My friend was gambling and he told me to email him some luck! Any ideas?
Suzi Q answers:
Diligence is the mother of good fortune. Also there are some quotes about luck at luckyquotes.com.
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* some text from Wikipedia, the free encyclopedia