To: JohnGalt
If we assume for the sake of argument that BB kept his bet the same over the years, we can conclude that Bill put approximately $32 million dollars through these machines. So now are going to assume a monetary figure on how much he actually spent versus how much he says he lost over a decade? How do you base your arguments and conclusions on assumptions? Even these stories "exposing" his gambling make assumptions. He "lost 8 million dollars over 10 years."
The story at the top of this thread notes that "Indeed, the stunner of the story that Bennett wagered $8 million over the last decade isn't even as stunning as Green and Alter desperately want it to be. There isn't any evidence that he lost $8 million dollars, only that he's bought $8 million in chips over a decade. If, as is more likely, his losses are half that, he'd have spent less than what numerous movie stars and CEOs spend on their country estates, private jets, and divorces."
Another assumption, but it is showing what was omitted from the original stories about Bennett: what he won over that decade. Saying someone "lost" 8 million over a decade, when they could have possibly won any number of million back, therefore making his statement about "breaking even" one-sided, and wholly beneficial to his decriers.
99 posted on
05/05/2003 12:49:15 PM PDT by
cgk
(Liberal truisms are the useless children of hindsight.)
To: cgk
You miss the point. Vegas keeps 24 cents on every dollar gambled in its machines. That is their business model; that is not a point that can be debated; by knowing his losses you can calculate, roughly how much was wagered as statitics will play out over time and certainly 10 years is a long time enough time.
Lets say he only lost $4 million, that tells you he probably played about $16 million in the slot machines. Now, what the other folks were saying is why didn't he play a game lick blackjack where the odds suddenly rush back towards the educated player who can count cards and certainly the game to learn how to play if you are going to attend casino's frequently.
Bennett's response was BS. At a $500 table he would be treated with respect and there is no table talk by rule.
You see, he is a phony even to the gambling community.
If it does not make sense to you, that's fine, but there are couple people on this thread who understand the gambling industry.
112 posted on
05/05/2003 12:57:09 PM PDT by
JohnGalt
(They're All Lying)
To: cgk
Your points are lost on many. If someone plays $1000 a hand at blackjack, and they spent 6 hours a day doing it, it adds up quite quickly. Imagine 4 minutes a hand (and that's erring on the side of caution). That would be 90 grand in one day, or 9 million if you did it 10 times a year for 10 years.
That does NOT mean you are losing that 9 million. It merely means you wagered, in total 9 million dollars. In the course of my life, I have probably wagered several thousand dollars. I have come nowhere near losing that much.
If Bennett is popping $100's into slots, at probably 30 seconds a hand, you can easily see how it adds up...
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