Lost 400 Dollars Gambling
- Lost 400 Dollars Gambling No Deposit
- Lost 400 Dollars Gambling Winnings
- Lost 400 Dollars Gambling Dollars
The amount of money people in America spent on gambling in 2016 was an estimated $116.9 billion, according to data from H2 Gambling Capital. That’s the amount won off of gamblers in areas. 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.
then today....
i started off playing poker and lost a few, so then i switched to playing roulette at the online casino and lost all my $870...
i deposited $500 into my account hoping to regain it... i lost it all again
then i deposited $500 again a few minutes later, lost it all again.
Lost 400 Dollars Gambling No Deposit
i deposited another $500 one last time and lost everything. i feel so depressed right now. after losing nearly $3000 in just an hour i knew i have a serious gambling problem. so i immediately locked my credit card away under a table, and sent an e-mail to the casino site to close my account. they just closed my account a few minutes ago and said that it will never be enabled again.
the depressing thing about this was that i said to myself at the beggining of today 'if i lost more than $100, i will stop for the rest of the day'. well i ended up losing way more than that, now i don't know how to explain this to my parents when they see that i have a $2000 credit card payment.... even worse is that this happen right before christmas... and i'm still in university and this is a big blow to my tuition payments.
i just feel so sad. i was so stupid to have wasted so much money in such a short amount of time. it'll take me nearly 3 months of working at my current job to make back $2100 (i make about $700 a month). my family doesnt make much either because we are barely a middle class family and i know my parents work hard to save their money for me, while i just blew away so much. o man am i stupid....
It’s no secret that billions of dollars are annually spent in the U.S. on both legal and illegal gambling, but the exact figure can range by hundreds of billions. Here’s my attempt to figure out roughly how much money is annually spent on gambling in the U.S. and to see if Adam Silver’s recent claim is accurate.
In Silver’s Op-Ed in the New York Times, he wrote:
There is no solid data on the volume of illegal sports betting activity in the United States, but some estimate that nearly $400 billion is illegally wagered on sports each year.
Slate writer Jordan Weissmann called that number in to question in a recent article found here:
When I asked the NBA where Silver got that $400 billion figure, a spokesman pointed me to the 1999 final report of National Gambling Impact Study Commission … The section on sports is short but dramatic. “Estimates of the scope of illegal sports betting in the United States range anywhere from $80 billion to $380 billion annually,” the commission wrote, “making sports betting the most widespread and popular form of gambling in America.” Silver, it seemed, took the high end of that range, but didn’t adjust it for inflation.
So, case closed? Not quite. The $380 billion figure was footnoted in the report, but the citation wasn’t a research paper. Instead, it referred back to an Associated Press article that appeared in the May 18, 1999, edition of the Las Vegas Review-Journal, titled “Ban on College Sports Betting Could Cost State Books Millions.”
Lost 400 Dollars Gambling Winnings
That news article, it turned out, recounted one of the commission’s own hearings, which had taken place in Las Vegas the previous November. “Commissioners were told that while legal sports betting in Nevada draws $2.3 billion a year, illegal sports betting runs anywhere from $80 billion to $380 billion annually,” the article explained.
… Vic Salerno, the CEO of American Wagering, a Vegas bookmaker, cited estimates between $50 billion and $250 billion (the latter of which appeared to have come from a clinical psychologist who studied gambling addicts rather than any kind of economic study). None of the other expert speakers appear to have presented specific numbers.
The $380 billion figure only emerged later thanks to an exasperated commission member, John Wilhelm.
Lost 400 Dollars Gambling Dollars
Weissmann raised some good points and clearly did his homework. However, I’m still not sold that the gambling figures aren’t in the 100s of billions and could reach $400 billion if/when gambling is legalized and regulated. Silver’s projection was the high end of an estimate, so more than likely it’s quite a bit higher than what’s actually being spent, but that doesn’t mean it’s not closer to being accurate than the article portrays.
A 1998 study of gambling conducted by the University of Salford and reported by BBC found that about $2.659 billion was spent on betting in 1998 in Britain. With inflation, that number today would be roughly $3.87 billion. The U.S. population is nearly 5 times that of Britain’s, according to World Bank, which brings that number close to $20 billion.
This is where estimating the exact figure gets tricky. It’s hard to jump from $20 billion to the $100s of billions. However, most of the major sports being bet on in Britain are played in the U.S., so it’s safe to say that there is more gambling interest in America. The rise of fantasy sports and the NFL, which is the most gambled on sport in the U.S., is driving gambling figures higher each year, and that increase was not factored into the report. The CNBC article in the last link estimates that $80-$100 billion is gambled on NFL games each year, with an additional $8-$10 billion being spent to bet on the Super Bowl.
Even if every other form of gambling combined is only equal to what is wagered each season on the NFL, which is an incredibly tame estimate, then at least $176 billion is annually spent on gambling in the U.S.
If the cries, most recently and notably by Mark Cuban and Adam Silver, are answered and gambling is legalized and regulated, it’s safe to say that the $175-$200 billion figure could land closely to Silver’s claim of $400 billion.
Sports-Kings’ Pass the Pill Contributor: @THEMarkPace