Lost 400 Dollars Gambling

  1. In my 20's I went through a bad breakup right after college that led me to develop a serious gambling addiction for 8 years. Throughout that time I estimated I lost over 200K dollars but that wasn't even the worst part.
  2. Americans who made bets with gaming, lotteries and offshore regulated betting firms lost approximately $107 billion in 2017, an increase of 1.5% on the previous year, and that’s expected to.
When the excitement and thrill wear off, the self-delusion kicks in. (David Butow/Corbis)

Making millions of dollars per year from gambling is where everyone on this forum wants to be. Izzy e on October 08, 2017: Day 14 without gambling! And feel good about it but still freaking worried I am going to cave in. Have decided I will not go in pubs with pokies visible or loud coz thats hard to stop the temptation.

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The gambling industry around the world is huge, but the biggest market is the United States, where gamblers lost a staggering $119 billion in 2013:

Lost 400 Dollars Gambling

[The Economist]

That's a crazy amount of money; more money than Bill Gates has (with $72 billion) or Warren Buffett (with $58 billion), and only $11 billion less than the two men put together.

What intrigues me is the question of why so many people gamble. After all, everyone knows that the odds are stacked against gamblers, whether they're betting on slot machines, horse racing, football, roulette, bingo, or lotteries. Even the games where it is possible for a highly skilled player to consistently make money — blackjack and poker — are big losers for the vast majority of players. And why do some players — problem gamblers, around 1.8 percent of the population — end up losing vast amounts of money, going into debt, and sometimes even losing their families and homes?

Different individuals gamble for a mixture of different reasons. The reasons are subtly different for each individual, but are usually a mixture of the following:

1. Escapism, entertainment, and boredom: The places that people go to gamble — like casinos, hotels, card rooms, bookmakers, and even online gaming websites — offer an escape from everyday life, and the opportunity to do something different, usually with a possibility of hitting a large payday. The vast majority of people who play the lottery don't win, but they all get the opportunity to dream about what they would do if they did win. In this sense, gambling can be seen as a form of entertainment, and those multi-billion dollar losses are the cost of being entertained, just as people pay to watch sports, listen to music, or play computer games.

2. Social activity: Gambling is a deep rooted part of American culture — 80 percent of Americans gamble at least once per year. Gambling with friends and family — whether that's in a casino in Vegas, or a card game at home, or making football or basketball bets among work colleagues — is widespread.

3. Excitement and thrill: The sense of anticipation and risk creates an adrenaline rush and the payoff releases a surge of dopamine. Dopamine is a neurotransmitter associated with the feeling of pleasure, and even elation. When you receive a hug from a loved one, dopamine levels rise; when you engage in sex, dopamine levels spike; when you win a bet, they shoot up as well.

4. Self-esteem: Casinos roll out the red carpet and dish out complimentary drinks, free stays in suites, shopping vouchers, and other gifts for big-time gamblers. That can be a huge self-esteem boost. So too can giving away winnings to friends or family, tipping service staff large amounts, or making gifts to charity.

5. Self-delusion and the Dunning-Kruger Effect: Some gamblers believe they are lucky or special and will beat the odds and win, unlike the vast majority of gamblers. While this is true in the long run for a very tiny minority of sharp, mathematical gamblers in certain games like poker and blackjack — just as it is possible for a tiny minority of investors to beat the stock market — it is untrue for the overwhelming majority of players. Inexperienced gamblers (and investors) may fall victim to the Dunning-Kruger Effect — the tendency for unskilled individuals to overrate their skill and ability, and underrate the difficulty of the task at hand. They may also create narrative fallacies and rationalizations to justify their belief that they can beat the odds and win.

So that covers the behavior of many casual gamblers, but for problem bettors, the issue is often addiction. The primary addiction, however, may not always be to the rush of winning — some research suggests that gamblers get the biggest kick from coming close to winning, and then losing. And some gamblers may be addicted to the aforementioned escapism or self-esteem highs.

The global gambling industry forecasts that betting losses will continue to rise. And they're probably right. After all, it's been common knowledge for a very long time that most people lose at gambling in the long run. That's what keeps casinos in business. And yet, people keep keeping them in business.

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OKLAHOMA CITY (AP) — Planned payments of $400 to some Oklahoma residents who lost wages amid the coronavirus pandemic are being put on hold due to the potential approval of additional federal unemployment payments, Oklahoma Employment Security Commission director Shelley Zumwalt said Wednesday.

“If new federal legislation is passed and a new federal unemployment relief package reaches Oklahomans, it will be clear that OESC will return the funds,” said Zumwalt, who announced Dec. 10 that the payments would begin this week.

The payments were intended for those who received at least $100 in benefits from any claim type and certified their employment was affected by COVID-19 during the week of Sept. 6-12.

The deadline for using the federal dollars is Dec. 27, according to OESC spokesperson Nick Buscemi, who said the agency hopes to know by the end of the week if the payments can be made without recipients possibly being required to repay the funds.

OESC has received about $300 million total from the Federal Emergency Management Agency for payments to those left jobless because of the virus.

Zumwalt said about $50 million remains because of fewer claims than projected and efforts to stop fraudulent claims.

Lost 400 Dollars Gambling No Deposit

'We had hoped that, as a result of this effort, the state would be able to again provide assistance to claimants with these funds. To be clear, through sound fiscal management the state of Oklahoma saved over $50 million.

Money

CORONAVIRUS VACCINE ARRIVES

Lost 400 Dollars Gambling Winnings

The governor's office announced Wednesday that the state had received all of its initial allotment of coronavirus vaccine doses.

Lost 400 Dollars Gambling Money

In addition to the more than 33,000 doses to the Oklahoma State Department of Health, more than 6,800 doses were sent to tribal nations by Indian Health Services and the Veterans Administration.

“Distribution is actively taking place across the state, but we want to remind everyone that we still have a long road ahead of us,” said Keith Reed, deputy state health commissioner, adding that residents should continue wearing masks, wash hands frequently and socially distance.

CORONAVIRUS VACCINE DELIVERIES

The Oklahoma National Guard has begun delivering the first doses of a coronavirus vaccine to health care providers throughout the state.

Guard members delivered the Pfizer vaccine Tuesday to locations in Enid and Woodward, according to the Guard.

Lost 400 Dollars Gambling Dollars

The first doses to Lawton arrived on Wednesday, said state health commissioner Dr. Lance Frye.

Deliveries will continue throughout the state through Thursday and resume when additional doses are received during the month.

The first vaccination in Oklahoma took place Monday when 31-year-old emergency room nurse Hannah White was inoculated in Oklahoma City.

Front-line health care workers are to be the first to be vaccinated, followed by long-term care providers and residents, paramedics, emergency medical technicians, and pharmacy staff who will administer the vaccine in long-term care facilities.

The Oklahoma State Health Department on Wednesday reported 245,229 total virus cases and 2,128 deaths since the pandemic began, increases of 3,238 case and 42 more deaths than Tuesday. Data from Johns Hopkins University shows the seven-day rolling average of new cases has risen from 2,696 per day on Dec. 1 to 3,043.5 on Tuesday and the average of daily deaths increased from 13.4 to 23.4.

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