High Rollers - page 2. | Bitcointalksearch.org

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Quote from: erep on May 18, 2022, 12:53:18 PM

Quote from: Distinctin on May 18, 2022, 09:48:15 AM

Same here, I just cannot imagine if those information were true. Insurance companies are there for some reasons, but insuring loss funds of bettors while gambling? I certainly don't think that it's highly possible. I mean insurance companies also have some goal to gain more money than what they are giving, you know what I mean.

It is very illogical if the insurance company will facilitate someone without collateral so that they do not care about the background even though they already know that he is a gambling addict, the insurance company will hold the collateral until the time limit that the loan expires or claim it is equivalent to the agreed loan.

Insurance companies make money by calculating the risk that a person like you represent and then charging you on average more money than the risk you represent to them, so for example if you are driving your car and you crash then they have to pay you, but on average other people with your driving record will not get into many accidents and they will still earn money with them.

Taking into account that most gamblers lose their money when they gamble due to the odds being against them, then it is almost impossible there is a single insurance company out there willing to take such a risk and insurance gamblers and their bets.

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Quote from: michellee on May 17, 2022, 12:19:15 AM

Quote from: KTChampions on May 16, 2022, 12:43:04 PM

By the way, I am surprised by the news when I hear that someone very rich has lost a lot of money in a regular casino. To some extent, this is not logical - after all, having a lot of money, you can buy any slot machine (to lose money to yourself lol) or hire a dealer to torture him endlessly by playing blackjack, while losing only the money that will go to his salary Grin

We will never know why rich people spend a lot of money in regular or online casinos. They can buy a slot machine and then run a casino business, but they haven't thought about having a business in gambling, so they are just having fun in the casino. If they can think like that, it will be good for them because they can earn a decent profit from the gambling business.

Yes, these rich individuals are certainly capable owning and financing casinos or some gambling business, but the catch is, this kind of business is not easy to handle because they have to be hands-on on these types of investment and not just hire someone to manage their casino. Yes, sometimes they can be lucky when it comes to employee but mostly, these same employee will just desert you and worse with that money.

Surely, they don't want something like that as it could be a waste of time and they're also not interested at all. They just want to enjoy their money and get entertained.

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Quote from: KTChampions on May 18, 2022, 03:41:42 AM

I meant something completely different - if I find out that my business partner is an avid gambler and loses large sums in the casino, then I will deal with him without any trust with tenfold caution. As far as casino loss insurance goes, I've never heard of anything like that (other than small-money promotions like "bet $5 and we'll get it back if you lose").

Maybe you have a point. Insurance officers can be careful with their clients who often play gambling because it will bring a lot of losses and if that happens, the gambler will find it difficult to pay the premium every month. But it could also be related to corrupt insurance officers as I said. They will easily offer loss insurance to gamblers on the condition that the gambler divides the money that the gambler will receive. But I don't know, I don't really understand that and I think there are lots of possibilities that could happen.

Quote from: madnessteat on May 18, 2022, 05:10:06 AM

I have not seen any information about the existence of insurance companies that would insure against losing money in the casino. In my opinion this insurance simply can not exist because the probability of losing all the money in the casino is much higher than the likelihood of winning and thus an insurance company will simply go bankrupt after a week of its existence.

Yes, we may never see it but we don't know what's going on out there. Or maybe the insurance company will cover rehabilitation for a gambling addict so he can solve his gambling addiction problem. But if the insurance officer is corrupt and want to make money, he will do something to that without anyone know.

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Quote from: romero121 on April 09, 2022, 06:27:04 PM

Quite surprised to see consecutive high roller of above 20BTC on a single wager. Have any of you come across such big wagers in real-time.

Absolutely he is a big and professional gambler, no matter what, high risk, high turn, and vice versa.
For us, this may be a very high bet, but for those who are big players, it may be a common condition, moreover for the professional bettor, they may think that this is a very common or small betting. This is simply like investing, the whales have been usual buying or trading several BTC at once. ANd for us, that is too much Cheesy

Just be aware of who we are and who they are.
The most imortan thing is that we must be aware that who we are, never try to be them, just do whatever as our readness ofr the risks and codnitions, nothing to force for big risk whereas we are not ready witht he risks

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Quote from: TimeTeller on May 17, 2022, 04:16:33 PM

Quote from: blockman on May 17, 2022, 04:10:09 PM

Those that have became millionaires traditionally are due to their grit and hardwork with real life investments and businesses. But, there are those gamblers that have became wealthy because of what they do, the actual gambling.

We don't know where those high rollers are getting their funds but that's none of our business.
But if you will really find time to observe in some games or sports betting, you can really see bettors spending thousands of dollars in one bet.
And when it comes to gambling, you very well know you have no assurance if you will win or not.
So more than likely, they can afford to lose such amount of money without worrying about their losses.
The good thing about crypto gambling is they can play anonymously along with other players, but more than likely they undergo kyc under the casino itself.

I've got personal friends that can spent not just hundreds but also thousands in dollars with the games that they know and has been following all of their lives.
It's all about the knowledge that they've got before placing in huge bets because they're aware of it and won't bet with such amounts if there's no advantage and upper hand for them.

erep

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Quote from: Distinctin on May 18, 2022, 09:48:15 AM

Same here, I just cannot imagine if those information were true. Insurance companies are there for some reasons, but insuring loss funds of bettors while gambling? I certainly don't think that it's highly possible. I mean insurance companies also have some goal to gain more money than what they are giving, you know what I mean.

It is very illogical if the insurance company will facilitate someone without collateral so that they do not care about the background even though they already know that he is a gambling addict, the insurance company will hold the collateral until the time limit that the loan expires or claim it is equivalent to the agreed loan.

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Quote from: Wind_FURY on May 16, 2022, 11:52:02 PM

Quote from: freedomgo on May 16, 2022, 06:24:22 AM

Quote from: Wind_FURY on May 16, 2022, 06:10:20 AM

Quote from: michellee on May 16, 2022, 12:59:21 AM

Quote from: safari88 on May 15, 2022, 03:10:31 PM

I didn't know there were so many millionaires in the world. Most of them are wiser with their money than to gamble the capital through it. You often do not become a millionaire by gambling at a casino or other gambling sites. Then you should make a big hit, but in the long run we all play on and the whole capital goes through it.

There are many millionaires in the world but most of them never share their wealth publicly and only some people know about it. These rich people also often gambled and spent a lot of money on many games. We will never know let alone maybe many of them are playing in private casinos which are only allowed to be visited by people who have a lot of money. But we may only be able to see some of those who play big money gambling in one casino and can only see the total amount of money they use.

That's true especially in Bitcoin Land/the cryptocurrency world. There are sometimes whales who play with more than 10 Bitcoins per click in dice in Crypto.Games. That's $210,000 per click if we put the price of Bitcoin to its next possible bear market cycle low. Who would bet $210,000 per click, it's crazy. Is he an owner of one of the biggest Bitcoin mining farms? A HODLer from 2011 or 2012? The wife of a HODLer?

Whoever that is, that person is very rich in bitcoin. Before when bitcoin was still very cheap, it was easy to gamble 1 BTC per click, but now, it's very expensive and those who can gamble that amount are very rich, we don't have to get envy, LOL. Enjoy gambling based on what you can afford to lose only.

I believe it's more than just being "Bitcoin rich", he/she might be a super bored person who's merely looking for excitment? Or maybe a depressed person who wants to throw money away to feel better? Because if I have 10 Bitcoins to throw away click per click, I would rather invest them in real estate, and farm land. That's what a normal person would do.

Well, judging by the fact and his/her audacity to easily throw away 10 bitcoins per click, we can already tell that he/she is not a normal person like us as he/she just wasting that kind of sum just to break his/her boredom. As for us, certainly that 10 bitcoins could put to some good use if we have that huge fund like investing to different environment either stock, real estate or else start some business.

Distinctin

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Quote from: madnessteat on May 18, 2022, 05:10:06 AM

Quote from: michellee on May 17, 2022, 11:55:38 PM

Quote from: KTChampions on May 17, 2022, 12:56:21 PM

I can understand when some celebrity or public person loses a million in a casino - this is a smart move, because for this million he roughly buys a lot of mentions of himself and remains in the information space. As a result, this gives him more benefits. But when an ordinary millionaire who earns by ordinary business loses money in this way, he receives a double loss - money + reputation. For example, I am suspicious of gamblers and would do business with them with extra insurance/caution.

I also suspect that gamblers are collaborating or doing business with the insurance company because the insurance may bear the loss. But as long as the insurance can act fairly and honestly and doesn't defend against the mistakes of gamblers, I don't think that will happen, even though there is a possibility that the insurance officer will get bribes from gamblers to share the money from insurance. But still, losing a lot of money for ordinary people will hurt and we should avoid losing a lot of money.

I have not seen any information about the existence of insurance companies that would insure against losing money in the casino. In my opinion this insurance simply can not exist because the probability of losing all the money in the casino is much higher than the likelihood of winning and thus an insurance company will simply go bankrupt after a week of its existence.

Same here, I just cannot imagine if those information were true. Insurance companies are there for some reasons, but insuring loss funds of bettors while gambling? I certainly don't think that it's highly possible. I mean insurance companies also have some goal to gain more money than what they are giving, you know what I mean.

madnessteat

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Quote from: michellee on May 17, 2022, 11:55:38 PM

Quote from: KTChampions on May 17, 2022, 12:56:21 PM

I can understand when some celebrity or public person loses a million in a casino - this is a smart move, because for this million he roughly buys a lot of mentions of himself and remains in the information space. As a result, this gives him more benefits. But when an ordinary millionaire who earns by ordinary business loses money in this way, he receives a double loss - money + reputation. For example, I am suspicious of gamblers and would do business with them with extra insurance/caution.

I also suspect that gamblers are collaborating or doing business with the insurance company because the insurance may bear the loss. But as long as the insurance can act fairly and honestly and doesn't defend against the mistakes of gamblers, I don't think that will happen, even though there is a possibility that the insurance officer will get bribes from gamblers to share the money from insurance. But still, losing a lot of money for ordinary people will hurt and we should avoid losing a lot of money.

I have not seen any information about the existence of insurance companies that would insure against losing money in the casino. In my opinion this insurance simply can not exist because the probability of losing all the money in the casino is much higher than the likelihood of winning and thus an insurance company will simply go bankrupt after a week of its existence.

Oasisman

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Quote from: Bitinity on May 18, 2022, 01:36:42 AM

Quote from: KTChampions on May 16, 2022, 12:43:04 PM

By the way, I am surprised by the news when I hear that someone very rich has lost a lot of money in a regular casino. To some extent, this is not logical - after all, having a lot of money, you can buy any slot machine (to lose money to yourself lol) or hire a dealer to torture him endlessly by playing blackjack, while losing only the money that will go to his salary Grin

That's wont be called as a gambling because playing in their own slot machine is not risking anything while gambling is mostly about risking money. Sure I know you are joking here

It's not really a joke If someone is battling for gambling games addiction, someone could really do that. You know rich people always have this 1 crazy idea they do with their excessive money lol. However, majority won't really do that since they have a lot of money to burn and it's really illogical to do that despite it's also kinda boring thing to do when you're playing on your own slot machine that you know no money is involved.

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Quote from: Mahanton on May 11, 2022, 02:59:27 PM

When you are having that lots of funds then i would say that probably you would really seeking off things for your entertainment and not to make more money

Let us not be stupid to say that we are gambling for Pure fun because we all seek for winning though we can control the desire instead we can keep hold the emotion when we lose.

Quote

but pretty sure that there are people
who do really aim for more despite on having lots of funds that they could really make use of.

because they are in Gambling so what can we expect for more? that is the price we can take on for gambling .

Quote

Its true that emotions would be the determining factor when making out decisions.
Whether you are already enjoying on losing lots of funds or wont bother yourself since you do know that you do still have lots.

It is indeed that our emotion will settle us for here or there , because all of our decisions will for sure comes from our feelings and desire .

KTChampions

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Quote from: michellee on May 17, 2022, 11:55:38 PM

Quote from: KTChampions on May 17, 2022, 12:56:21 PM

I can understand when some celebrity or public person loses a million in a casino - this is a smart move, because for this million he roughly buys a lot of mentions of himself and remains in the information space. As a result, this gives him more benefits. But when an ordinary millionaire who earns by ordinary business loses money in this way, he receives a double loss - money + reputation. For example, I am suspicious of gamblers and would do business with them with extra insurance/caution.

I also suspect that gamblers are collaborating or doing business with the insurance company because the insurance may bear the loss. But as long as the insurance can act fairly and honestly and doesn't defend against the mistakes of gamblers, I don't think that will happen, even though there is a possibility that the insurance officer will get bribes from gamblers to share the money from insurance. But still, losing a lot of money for ordinary people will hurt and we should avoid losing a lot of money.

I meant something completely different - if I find out that my business partner is an avid gambler and loses large sums in the casino, then I will deal with him without any trust with tenfold caution. As far as casino loss insurance goes, I've never heard of anything like that (other than small-money promotions like "bet $5 and we'll get it back if you lose").

Bitinity

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Quote from: KTChampions on May 16, 2022, 12:43:04 PM

By the way, I am surprised by the news when I hear that someone very rich has lost a lot of money in a regular casino. To some extent, this is not logical - after all, having a lot of money, you can buy any slot machine (to lose money to yourself lol) or hire a dealer to torture him endlessly by playing blackjack, while losing only the money that will go to his salary Grin

That's wont be called as a gambling because playing in their own slot machine is not risking anything while gambling is mostly about risking money. Sure I know you are joking here

Quote from: Distinctin on May 17, 2022, 03:20:02 PM

But most millionaires and billionaires that we know now are the ones who did an investment in other environment, surely gambling is not on their sheet to be in their status now.

There can be some people who are investing in gambling business, not as a gambler but as owner of casino. They can be a millionaire or billionaire by owning a casino obviously because we all know that the house always win in the end.

michellee

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Quote from: KTChampions on May 17, 2022, 12:56:21 PM

I can understand when some celebrity or public person loses a million in a casino - this is a smart move, because for this million he roughly buys a lot of mentions of himself and remains in the information space. As a result, this gives him more benefits. But when an ordinary millionaire who earns by ordinary business loses money in this way, he receives a double loss - money + reputation. For example, I am suspicious of gamblers and would do business with them with extra insurance/caution.

I also suspect that gamblers are collaborating or doing business with the insurance company because the insurance may bear the loss. But as long as the insurance can act fairly and honestly and doesn't defend against the mistakes of gamblers, I don't think that will happen, even though there is a possibility that the insurance officer will get bribes from gamblers to share the money from insurance. But still, losing a lot of money for ordinary people will hurt and we should avoid losing a lot of money.

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Quote from: blockman on May 17, 2022, 04:10:09 PM

Quote from: safari88 on May 15, 2022, 03:10:31 PM

I didn't know there were so many millionaires in the world. Most of them are wiser with their money than to gamble the capital through it.

That's the reality, there are too many millionaires yet there are also too many poor people that barely eats thrice a day.

Quote from: safari88 on May 15, 2022, 03:10:31 PM

You often do not become a millionaire by gambling at a casino or other gambling sites. Then you should make a big hit, but in the long run we all play on and the whole capital goes through it.

Those that have became millionaires traditionally are due to their grit and hardwork with real life investments and businesses. But, there are those gamblers that have became wealthy because of what they do, the actual gambling.

We don't know where those high rollers are getting their funds but that's none of our business.
But if you will really find time to observe in some games or sports betting, you can really see bettors spending thousands of dollars in one bet.
And when it comes to gambling, you very well know you have no assurance if you will win or not.
So more than likely, they can afford to lose such amount of money without worrying about their losses.
The good thing about crypto gambling is they can play anonymously along with other players, but more than likely they undergo kyc under the casino itself.

blockman

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Quote from: safari88 on May 15, 2022, 03:10:31 PM

I didn't know there were so many millionaires in the world. Most of them are wiser with their money than to gamble the capital through it.

That's the reality, there are too many millionaires yet there are also too many poor people that barely eats thrice a day.

Quote from: safari88 on May 15, 2022, 03:10:31 PM

You often do not become a millionaire by gambling at a casino or other gambling sites. Then you should make a big hit, but in the long run we all play on and the whole capital goes through it.

Those that have became millionaires traditionally are due to their grit and hardwork with real life investments and businesses. But, there are those gamblers that have became wealthy because of what they do, the actual gambling.

Distinctin

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Quote from: safari88 on May 15, 2022, 03:10:31 PM

I didn't know there were so many millionaires in the world. Most of them are wiser with their money than to gamble the capital through it. You often do not become a millionaire by gambling at a casino or other gambling sites. Then you should make a big hit, but in the long run we all play on and the whole capital goes through it.

There are others as well that became millionaires already because of gambling, well not the traditional gambling like going to some casinos. What I mean is that there are people who have committed their lives to be called as gambling professionals who often gambles on big leagues because they have studied the data well and know what are the happenings.

But most millionaires and billionaires that we know now are the ones who did an investment in other environment, surely gambling is not on their sheet to be in their status now.

KTChampions

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Quote from: michellee on May 17, 2022, 12:19:15 AM

Quote from: KTChampions on May 16, 2022, 12:43:04 PM

By the way, I am surprised by the news when I hear that someone very rich has lost a lot of money in a regular casino. To some extent, this is not logical - after all, having a lot of money, you can buy any slot machine (to lose money to yourself lol) or hire a dealer to torture him endlessly by playing blackjack, while losing only the money that will go to his salary Grin

We will never know why rich people spend a lot of money in regular or online casinos. They can buy a slot machine and then run a casino business, but they haven't thought about having a business in gambling, so they are just having fun in the casino. If they can think like that, it will be good for them because they can earn a decent profit from the gambling business.

I can understand when some celebrity or public person loses a million in a casino - this is a smart move, because for this million he roughly buys a lot of mentions of himself and remains in the information space. As a result, this gives him more benefits. But when an ordinary millionaire who earns by ordinary business loses money in this way, he receives a double loss - money + reputation. For example, I am suspicious of gamblers and would do business with them with extra insurance/caution.

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Quote from: cabron on May 17, 2022, 12:09:21 AM

Quote from: Wind_FURY on May 16, 2022, 11:52:02 PM

Hahaha. Don't they know they're allowed to invest in farm land, or a beach front?

Hard to believe someone with that money doesn't see an option to invest somewhere like farm or beach. Even if you are not into BTC, he will still think of putting his money somewhere safer to not lose it all in an online casino.

OR they probably already own some farm land, a beach front, an island, everything money can buy, and they still have more coins they don't know how to spend? Haha.

Quote

If one is very aware of what he is doing and still gambles that big, he must have a lot of BTC, maybe he got a thousands of it long before the price goes more than $30K. who knows, a long time holder since 2011 probably.

With that money I will not worry about the recession today.

Perhaps an early 2011 - 2012 miner who was mining them with his/her laptop everyday of the week and get thousands of them per week. The Bitcoin Pizza Guy was one of them. Spending 10,000 coins for pizzas? He might be HODLing 100,000s more!

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Quote from: Wind_FURY on May 16, 2022, 11:52:02 PM

I believe it's more than just being "Bitcoin rich", he/she might be a super bored person who's merely looking for excitment? Or maybe a depressed person who wants to throw money away to feel better? Because if I have 10 Bitcoins to throw away click per click, I would rather invest them in real estate, and farm land. That's what a normal person would do.

Some people have a level of wealth that is hard for us to understand. A person who can spend 10 Bitcoins on gambling probably has many, many more. And he probably already has farm land or other assets worth hundreds or billions of dollars.

A friend of mine works in a casino and has seen some people who gamble very heavily arrive or leave the casino with cars worth hundreds of thousands of dollars. If you make $10M a year you can go to the casino and spend $50K a night just as easily as someone who makes $100K can go and spend $500. It's a matter of ratios.

Topic: High Rollers - page 2. (Read 2247 times)