Benefits Of Legalized Gambling - The Economic To The Social

Online casino gambling has many benefits that you can expect

Online casino gambling has many benefits that you can expect submitted by 12playcasino to u/12playcasino [link] [comments]

"Tokenized Announcement on Twitter: "We've added a new asset type to the Tokenized Protocol! - Casino Chip (CHP): Defined as a token backed by a currency that can be used by a casino's customers' for gambling. Both online and real casinos can benefit from using smart contracts and this asset type."

submitted by cryptorebel to bitcoincashSV [link] [comments]

Why Casino-Driven Development Is a Roll of the Dice | Usually, the public benefits of gambling deteriorate over time. But many American cities still pin their economic hopes on casinos.

Why Casino-Driven Development Is a Roll of the Dice | Usually, the public benefits of gambling deteriorate over time. But many American cities still pin their economic hopes on casinos. submitted by RandomCollection to TrueReddit [link] [comments]

Do the benefits of state supported casino gambling outweigh the social costs?

Proponents of legalized gambling are pushing legislation to allow casinos in several states where it's not now allowed or very limited. Biased arguments on both sides are easily found, but it appears to be difficult to easily find recent objective analysis of the social costs.
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Do you hate cancer? Do you love gambling and winning prizes? Relay Royale casino night is TONIGHT from 8-11 and everything is FREE! Donations benefit VT Relay for Life.

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I work at a crooked casino. You don't gamble with money here.

Hi, everybody. My name is Sid, and I’m an addict.
It took me a long time to accept that. But when you take a job in a casino just so that you can be there all the time and try to gain an edge, you’re an addict. It’s obvious even to me. More so to my family and friends, who I barely see anymore.
It’s not pills or coke, booze or heroin that I’m hooked on. I’m addicted to gambling.
The casino that made me so obsessed is not an ordinary one, though. It’s far from ordinary.
You don’t play for money at Fantasy Casino. You play for your dreams.
I hear you laughing.
But have you ever had a really, really great dream? One that got so good you snapped awake the second it started to get really excellent?
Well, imagine that times a thousand. Times a million.
A dream so real and so perfect that all of your fantasies become reality. Time stretches out. You feel like you are there forever. A lifetime passes before your return.
Infinite wealth, the ability to fly like superman, you’re surrounded by sex and beautiful people all day as you relax in a palace built to your mind’s most exacting specifications of perfection.
But then you wake up, and in an instant it is gone.
The power, the wealth, the endless sex and supernatural powers.
Everything is suddenly NORMAL again.
And so you go back to the casino.
I went back to the casino.
But the problem with gambling is that you don’t always win. And when you lose, suddenly the winnings are gone as well, vanished without a trace. All I knew was that I had to have that feeling again.
So I went inside the giant building and then followed the secret signs which led to a door that led to a staircase going downwards.
I went down the stairs and knocked on the door marked “Private” and waited for an answer.
“Password.”
The voice on the other side of the black door waited for my response.
“Seramth Gin.” I said the unnatural words carefully and deliberately, still not knowing their meaning.
A friend had told me the password, a fellow gambler who I would later find dead in his apartment. His corpse white, bloated, and maggot-infested.
His eyes were black and filled with blood which streamed from his eye sockets like tears. He had bit his tongue clean off and his fingernails were found lodged in various surfaces throughout his apartment. Like he had been trying to claw his way out of a steel box that only he could see.
But I’m getting ahead of myself. That was later. At this point I was still hopeful for another wonderful dream. Still thankful for his advice to seek out the place.
The door opened and I walked inside. It was the same as it had been the day before, only less busy at this time – still early afternoon.
I approached the table I had been sitting at the night before.
Poker – Texas Hold ‘em: Ten dream limit – the sign read.
The rules were simple. You got a stack of chips. If you doubled them, you received a dream. If you lost them, you lost a dream.
I wasn’t concerned about losing dreams yet, I still didn’t understand exactly what that meant.
When I lost my first stack of chips, I quickly bought in again. And again. And again.
Pretty soon I realized I had lost eight dreams with no winnings whatsoever. I was in a slump. A losing streak.
I decided to go home and count my losses. Literally, since I had no idea what that even meant.
As I got up to leave the table, the dealer looked at me. His eyes were remorseless and cold.
“See the cashier on your way out,” he said, handing me eight black chips.
I gulped and walked over to the glass window where the cashier sat waiting. Handing him the eight chips, he raised his eyebrows and clicked his tongue.
“That’s a shame. Hold out your hand please.”
Two men in black suits came up behind me suddenly and stood on either side of me, intimidating in their stature and demeanour.
I did as he asked and held out my hand with the palm facing up.
The cashier pulled out a strange-looking device from beneath the counter. It had a vial of vermillion-coloured liquid at the top that was attached to the rest of it which resembled a gun with a hypodermic needle at the end.
I screamed and tried to pull away, but the two men grabbed me and held my arm through the window. Thrashing and elbowing them, I tried to get away but it was useless.
The cashier injected the stuff into my veins quickly and it felt cold and slimy going through my system. I could feel it suddenly in my heart, turning it cold and then up into my mind and my lungs and all extremities causing me to shake and violently seize. I writhed on the floor, blood pouring from my ears and my eyes.
Finally the feeling settled down into a numbness that prickled the insides of my blood vessels. It wasn’t until later, once I realized what the casino really was, that I found out what they had done.
I went home with the certainty that they had injected me with something. If winning had resulted in the greatest dream I had ever had – essentially an almost never-ending fantasy – what would happen after a loss?
Nightmares. That was what it would be. I was sure of it.
I settled into bed that night and closed my eyes, drifting off to sleep quickly after such an emotionally exhausting afternoon.
As soon as my eyes closed, they opened again and it was morning.
It felt as if I had not slept at all. My mind was fuzzy and it was difficult to focus. My eyes wanted to close again but my alarm was telling me that it was time to get up for work, so I hit the “dismiss” button and hopped in the shower.
I threw on my clothes and went out the door. At work I noticed a few people looking at me strangely, but I didn’t realize until someone pointed it out to me that my shirt was on inside-out. At this point I was still working in an office doing commodities trading and such lapses were frowned upon.
If you couldn’t focus enough to put your shirt on properly in the morning, how could you focus enough to get the work done in such a demanding environment? Millions of dollars changing hands with each transaction meant that such trivial things were put under a magnifying glass and coupled with other subsequent mistakes each following day after that, I found myself in the boss’s office by the end of the week being handed my walking papers.
Desperate for rest after days of not feeling any benefit from sleep, I went back to the casino.
They knew just by looking at me how to dig their claws in further. After a couple hours I had managed to win myself a dream.
They handed me the complimentary cocktail as they had the time before. I hadn’t realized the significance of it and still didn’t, despite the unusual vermillion colour of the drink. I swallowed it in one gulp and went out the door practically dancing and clicking my heels, ready to go home and feel rested again.
My dream that night was wonderful. Everything I had hoped for in many ways.
But not as good as the first time. I wanted that feeling back again.
Knowing that it was a dream the whole time and realizing that it was going to end seemed to shorten the fantasy, made it seem hollow and manufactured.
If I could win again maybe it would be like that first time, I thought.
The casino drew me in again and again. I found myself a zombie most days, exhausted, at my wit’s end. Ready to call it quits for good and say goodbye.
But then I would win again and it would all seem to be alright for a while.
My debt kept growing and growing with nearly every trip. The hypodermic needle would be plunged into my skin and every time they had to hold me down. Every time I would feel a little more empty. A little more hollow.
Waking up every day began to feel the same. Nothing had definition or purpose.
“You’re here all the time,” one of the goons whispered to me as they shot the needle into my vein the time after that. “Haven’t you figured it out yet? You should just get a job here and then at least you’ll be in on the secret.”
I applied the next day and got an interview with the boss. I would find out later that if you got someone to apply there you got a one dream bonus.
In his office, the well-dressed man was sitting behind a massive polished ebony desk. The room was adorned with paintings, sculptures, and other high-priced artwork. He had photos everywhere of himself shaking hands with world leaders, new and old, for hundreds of years.
His face never changed. Never aged.
“So, you want to work with us? Tired of dreamless nights without end? You want to have some relief, is that it?”
“Yes. Please. Anything. I’ve been coming here for so long and it’s an endless cycle. I want back what I’ve lost but I keep finding myself more and more in debt with each visit.”
“Ah, so do you understand it now, then? What the ‘injections’ are?”
It finally dawned on me, sitting there. Not injections at all. They weren’t putting something in us. They were taking something out. The vermillion-coloured liquid in the vials – our dreams.
“If I take a job with you, will the same rules apply? Will they still take my sleep, my rest, every time I lose?”
“Yes. We can’t have the employees living by different rules than everyone else. But we will give you an alternative injection, so that you feel well-rested when you come in for your shift.”
“I’ll do it. I need to rest. I need to get some meaningful sleep. My life has been miserable ever since coming here.”
“Well, I can’t promise that this will help,” he said, getting up from his desk with a hypodermic gun in his hand. The vial of fluid sitting atop this one was jet-black and looked evil and poisonous. He rolled up his sleeves as he primed it and I watched a few beads of it drip oil-like out of the tip of the needle.
“What the hell is that!? I don’t want that stuff in me!”
“But you need to sleep, my dear worker. I can’t have you passing out at the blackjack table like a narcoleptic! You agreed to this, after all. You wanted to rest, and the only way for that to happen is for you to have SOME sort of dream. Not everyone is as lucky as you, you know. To have that wonderful vermillion fluid in your veins. Some people come to us begging to take it from them. Some of our employees for example, the ones who do the recruitment for us, are full of this black stuff.”
“What?” I had gotten up from the chair and was backing away from him towards the door. But I found it was locked as he approached.
“First you have to tell me the password, Sid.”
“Seramth Gin.” I said the words that I had said every time to gain access to the casino, only this time I pictured the letters and rearranged them in my mind.
“Nightmares.”
He smiled as he injected me with the vial of black hate, and it went into my veins feeling hot and unpleasant. I began to sweat and the beads of it turned cold on my skin as I shivered.
I’ll sleep tonight. I might even wake up feeling rested. But as long as I live and work at that casino, I’ll be afraid to dream again. Because now my unconscious hours are occupied by the most terrifying experiences imaginable. Nightmares beyond imagining in their awfulness. That is my fate.
Unless… Just maybe, I can win one more time.
JG
TCC
submitted by Jgrupe to nosleep [link] [comments]

The Ultimate Parlay: DraftKings ($DKNG)

The Ultimate Parlay: DraftKings ($DKNG)
Here on a Sunday night to give you autists some time to cross-check my info, start your RH instant deposit, and let your wife's bf know you're coming back with a vengeance. Here's an in-depth analysis on DraftKings and how to maximize profits over the foreseeable future to squeeze this for every tendie we can. Now that many states face revenue shortfalls due to the coronavirus pandemic and wider budget deficits, there needs to be a push to fill that gap and nothing is better positioned than sports betting.
As you all know, $DKNG came to market through a SPAC merging with Diamond Eagle back in April, at the worst of the pandemic when live sports were dead and there was more uncertainty than ever for what was to come. Jason Robins, Draft Kings CEO, has balls of steel and knew that they needed to get to market quickly for a sports betting run-up the likes of which we've never seen. Sports are now on their way back, with a huge amount of positive catalysts coming up in the next few months to skyrocket this stock to the moon and beyond.

Management

I want to clarify that a large amount of my conviction from this play comes from the incredible management team leading the company. CEO Jason Robins is a stand-up guy and has led the company through a huge amount of scrutiny since its founding in 2012. He comes from a data analytics background which could not be a better fit for the sports betting business. He prioritizes the high speed data that fuels the DraftKings platform as its most valuable asset and speaks often on the commitment his team has to ethical values and encouraging a trustworthy environment for its users to gamble their paychecks on the DraftKings platform.
I've linked a great interview to get to know the CEO and give further insight into DraftKing's plans moving forward below and highly recommend anyone going in on this play give it a quick watch. Jason is optimistic about the future of state's legalizing mobile sports betting moving forward and says they will continue to invest boatloads of money into customer acquisition costs through TV ads and billboards on a state-by-state basis. Link: https://youtu.be/2OVFB9piEC0
Any of you who have come across DraftKings commercials, YouTube ads, billboards, know that their marketing is on point. This is a great play because DraftKing's expansion has occurred thus far on a state-by-state basis. This means that there's a large part of the nation (actually the majority) that is still ignorant to the sports betting wave that is coming in 2021. DraftKings is positioned extremely well to lead the way into the ~25 states still waiting to pass the bill.

Legislation

The fact that the top 4 states in the country still have not legalized online sports betting presents a HUGE opportunity to ride this wave with little downside risk. Sports have already gone through the worst-case scenario during COVID shutdowns and survived—now we’ve got a great amount of positive catalysts coming up (NBA season, March madness, Super Bowl, etc.) that the general population is begging for some action on, paired with more money in their pocket from significantly less entertainment costs since the pandemic started.
The Wuhan Virus gave DraftKings a shot in the arm to streamline its way into most (if not all) of the remaining state's ballots during Q1 and Q2 due to the huge cut in tax revenues that the lockdowns caused across the country. Governor Cuomo of New York released a statement last week stating he is now considering the passing of mobile sports betting in order to raise the state's tax revenue during a time where Congress completely skipped them over in terms of providing aid through the stimmy. New York is a huge catalyst moving forward. In my opinion, this is a make or break for how things look for DraftKings moving forward, and will largely influence how other states react. Mobile sports betting scares states as it is new and so accessible, but if you do research into the Powerball and other loterry companies, it just took a push in the right direction for states to realize how much money they are leaving on the table by not participating in these emerging markets. Sports betting has already benefited the 9 states which passed the bill (NJ leading the way) and has NY as well as every other governor, feeling major FOMO.
Current states where online (mobile) sports betting laws have passed:
  • New Jersey
  • West Virginia
  • Indiana
  • Pennsylvania
  • New Hampshire
  • Iowa
  • Colorado
  • Illinois
  • Tennessee
Some of the reported revenues from sports betting:
New Jersey: $931.6 million
Pennsylvania: $491.9 million
Illinois: $434 million
Indiana: $250.8 million
Colorado: $231.2 million

On May 14, 2018, the United States Supreme Court found the Professional and Amateur Sports Protection Act (PASPA), the federal law prohibiting states from authorizing sports betting, to be unconstitutional. It is now up to individual states to decide if they want to authorize and regulate sports betting in their state. Congress can also take action on the authorization and regulation of sports betting but has so far left it up to individual states.
As you can see, states are cashing out on the mobile sports betting wave, with New Jersey leading the way and making a large part of that revenue from NY residents crossing state lines to get their gambling fix in. Gov. Cuomo has been opposed to legalizing sports betting in the past, calling it "a violation of the constitution"...buut that was before covid lockdowns and his state was drowning up to their neck in debt.
DraftKings management issued extremely bullish guidance without even taking into account new states passing legislation. This is one of the things that I love about CEO Jason Robins that stood out to me in the hours of interviews/articles I’ve looked over. This man is the pinnacle of underpromising and over delivering. The staff at Draft Kings are extremely customer centric and focused on strong ethics to help them provide a platform for sports aficionados to enhance their viewing experience.

Data-Driven/Proprietary Tech Stack (the MOAT)

Legislation aside, the other huge catalyst is DraftKing's unique approach to owning its own data and proprietary tech stack. I believe that this will be where DKNG separates itself from the competition that is rushing to this space and will give it the upper hand in acquiring, and retaining, a large percentage of new users across opening states.
From investor presentation: "Upon close of the business combination, DraftKings will become the only vertically-integrated pure-play sports betting and online gaming company based in the United States. Through the business combination, DraftKings expects to realize synergies by transitioning its risk and trading sports betting platform to SBTech’s, instead of relying on a third-party platform. In addition to reducing costs, DraftKings will control its backend system and product roadmap, differentiating the company from other U.S. operators and giving it the ability to tailor its sports betting product to U.S. sports and users."
"SBTech is a global leader in omni-channel sports betting and gaming, with more than 1,200 employees in 10 offices worldwide. Since 2007, the group has developed the industry’s most powerful online sports betting and casino platform, serving licensees in more than 15 regulated territories. SBTech’s clients include many of the world’s premier betting and gaming operators, state lotteries, land-based casinos, horse racing companies, and iGaming start-ups. The group supplies highly flexible betting and gaming solutions to clients looking for exceptional configurability and the quickest route to market, complemented by proven business intelligence and reporting capabilities. The SBTech offering includes its seamless sportsbook, Chameleon360 iGaming platform, managed services, on-property sportsbook and omni-channel solutions that provide players with constant access to sports and casino products across all online, mobile and retail channels. Supported by unrivaled expertise in trading and risk management, acquisition and CRM, and the highest standards of regulatory compliance, SBTech’s partners consistently achieve rapid growth, enhanced brand loyalty and record revenues."
DraftKings prioritized OWNING their own backend technology via this merger with SBTech, making them the first, and only company in this space to own their risk and trading platform. This gives DraftKings a huge edge to the rest of the market. It forked up the cash to keep everything in house not only to provide a better customer experience, but also to widen the moat against competitors as new states come onboard. The key here is to clarify that DraftKings and SBTech combined to be the only player in the market with 100% vertical integration and control of their own backend. Jason Robins and the rest of the management team are placing their efforts on having the best technology and the best product and really going all in on owning the U.S. landscape opening up, with as little need for cross-platform interaction as possible.
This acquisition of SBTech was a complete game changer because it allowed them to be independent from paying revenue share to a third-party for betting lines and risk management services.
Clarification: no other sports betting/fantasy sports/casino company currently has 100% vertical integration on the level that DraftKings has established.

iGaming Boom

This is where the market is missing the mark. Take the time to read over analyst reports, news articles, and interviews and you'll quickly notice 99% of the general market is completely glazing over DraftKing's iGaming sector. This industry has been a CA$H COW in Europe for awhile now, and is only getting started in the United States. Out of the companies that occupy this space, DraftKings is the only one to create one synergistic platform for Fantasy sports/Sportsbook/iGaming. This will be a huge value proposition that will ultimately rocket DraftKings to the top of the gaming market and solidify it as THE gaming powerhouse moving forward.

The infrastructure driving DraftKing's products and Tech (all in one platform)
Anyone that's watched the run of Skillz and the hype pushing PaySafe, knows how much anticipation there is for iGaming to become the new norm in the world of gambling. DraftKings has emerged as the market leader in each state they've launched in, and continue to gain more and more market share. Once new users get introduced to their platform, the cross-selling opportunity is limitless and creates an extremely sticky customer acquisition cycle.
Competitors like Penn and MGM are dinosaurs in this space and have been playing catch-up to DraftKings since 2012. The new age of gamblers don't want to drive to a physical casino location or buy a home desktop to gamble. Everything will be mobile and run in real-time. DraftKings has been building an incredible live-sports ecosystem (first to market) and innovates the possibilities of what you can bet on a daily basis. Just download the app for yourself and do some exploring. I believe this is going to boom in the TikTok/millennial crowd as more states start to hop onboard.

2021 Projections

Pulled from the investor presentation, $DKNG has smashed every one of their 2020 assumptions listed below. For any stats guys out there, I would love to see some models at how much of this market is still up for grabs. DraftKings has positioned themselves to be at the head of this movement, and I believe that 2021 will be the year we really see them take off into triple digits share prices.
The catalysts are there, and the market is ripe for the taking. Their projections are extremely conservative and management lets the numbers do the talking. In my opinion, this is a bet on the management putting the dots together to EXECUTE as state legislation starts to go their way, once NY happens this shift will occur rapidly.

https://www.sec.gov/Archives/edgadata/1772757/000110465920032214/tm2012476d1_425.htm
The management is incredible and truly displays a vision for wanting to prop up shareholder value in the long-term through valuable data, a fully integrated platform, and aggressive customer acquisition to take control of this market as states realize the economic deficits which they are facing going into a new year. This along with the unprecedented hype that is going to be involved with sports events this year, will skyrocket DraftKings to new heights.
This is not a bet on sports betting alone, it is a play on a data-heavy and analytically driven behemoth, with strategic partnerships (league, team, and celebrity partnerships) and one of the most aggressive marketing strategies I have ever laid eyes on. The stock soared earlier this years upon news of the Michael Jordan partnership (https://www.cnn.com/2020/09/02/investing/draftkings-michael-jordan-deal/index.html) and there is many, many more big moves in the pipeline.

Conclusion

Long-term I am extremely bullish on people wanting risk to make up a daily part of their lives. The psychology of sports betting resembles that of the lottery and is becoming a must-have for people to have the choice to place bets from the convenience of their mobile phones. We are moving into a future where if risk and leverage are not involved, people will have little interest in dedicating their time to things. This shift can be seen with the boom in retail options trading (shoutout wsb gang) and will have a similar effect in sports, iGaming, and random prop bets/surveys that Draft Kings is innovating heavily in. This is not to mention the infrastructure that DKNG is continuing to build out to rival that of Europe in terms of live sports betting (which makes up three quarters of revenue for online sports books in the UK) and expanding their horizons to lesser betted on sports such as tennis, golf, soccer, etc.
If you've gotten this far, congrats you're just a few steps away from striking gold. Any feedback, comments, rebuttals, bear scenarios, etc. please comment. Good luck.

Positions

$70c 1/21/22
$90c 1/20/23
🚀🚀🚀 Bet at your own risk 🚀🚀🚀

Tl;dr

DraftKings has state legislation action coming, incredible management, is data-driven, is vertically integrated/owns its tech stack, has exposure to the full range of new world gaming (Fantasy/Sportsbook/iGaming), and is ahead of its competition forming league, team, and celebrity partnerships.
$70c 1/21/22
$90c 1/20/23

Sources (do your own DD dumbass)

https://youtu.be/2OVFB9piEC0
https://www.legalsportsreport.com/42835/draftkings-kambi-2021/
https://sportsbook.draftkings.com/help/sports-betting/where-is-sports-betting-legal?_ga=2.2847858.331721966.1608603855-1177209388.1608603855
https://www.legalsportsreport.com/46711/the-week-in-sports-betting-dec-21/
https://www.aol.com/news/why-draftkings-flutter-trading-lower-201654511.html
submitted by omertaproject to wallstreetbets [link] [comments]

Robinhood can be a gambling platform, but it's not and removing it or regulating it will exacerbate the divide between the wealthy and the rest of the U.S.

Hi everyone,
Lately I've been reading and watching on the news about Robinhood and I just wanted to give my two cents as somebody who actually researches Gambling disorder in the United States. My goal in this post is to hopefully encourage people on WSB to become politically active in preventing the regulations or removal of certain aspects that Robinhood allows on its investing platform. First, let me define some terms from the Gambling disorder field:
In this post I will address a few arguments at Robinhood. The first is regarding the "gambling" nature of investment that Robinhood purportedly encourages. The second is that the average investor needs to be "protected" because they lack the information and knowledge to participate on the app.
When I first downloaded Robinhood, I was skeptical at first and proceeded to uninstall and reinstall it multiple times before I deposited $350 to invest in stock. The app provided me a "scratch-off" with my first deposit that rewarded me with my first stock (some medical company). That was the only time that event occurred. If we look at my prior definition of gambling, technically that is not a form of gambling. I placed nothing of value on this random outcome. If the actual act of investing in stock is gambling this leads to an interesting analogy regarding trading platforms, not just Robinhood.
Stocks are the game (roulette, blackjack, craps), Robinhood and trading platforms are the dealers (giving information on the rules of the game and how much it costs to place a bet), and the liberal market is the casino.
In this analogy everybody is in the Casino, and if you don't play the game you stand to lose regardless as your money loses value to inflation. Even worse, if the casino folds the people that didn't cash out or were fully invested in the casino never collapsing (The Great Depression, the recession of 2008 the coronavirus recession) can stand to lose everything even if they didn't participate (regular person that was laid off) or were placing safe bets (ETF's Blue chip stocks etc).
The Massachusetts Secretary of the Commonwealth, William Galvin, is addressing the wrong issue by suing Robinhood. What should be addressed is the reasons that people even participate in Robinhood or in any trading platform. The average individual doesn't understand the market and the United States does not address this ignorance by providing information on how to properly invest for retirement or provide a welfare structure that protects against poverty as individuals become unable to participate fully in the economy due to injury, developmental disability, age, discrimination or lack of access to the "free" market. To claim that people on Robinhood "gamble" for excitement or risk is reductive. People invest their money on Robinhood for the potential accumulate life changing "tendies" that will protect them from the eventuality that they will be unable to participate in the economy and the government will not insulate them from the fiscal impact an individual will (not if) have to deal with in regards rising medical cost for their healthcare and any other services they would require in order to lead a normal life. If William Galvin is actually concerned about the "gamefying" of investment, he should focus on regulating Wall Street and the Banking sector, because last time I checked investors on Robinhood invest with their own money, not the money of other people.
The argument that the average investor isn't informed also leads to more issues that I guarantee the government doesn't want to address or even ask because it would require an expansion of the welfare state and higher taxes on companies and individuals. If the average American is too dumb to invest using Robinhood that what is the solution? The U.S. government has always fought any sort of government guaranteed income or services to insulate an individual against against insolvency from the free market as can be seen by the desire to privatize almost all forms of government programs such as Social Security, Medicare, Food Stamps and Medicaid. This has already occurred with certain programs at the federal level such as HUD which doesn't do anything to help people get affordable housing and the drastic reduction in funding for colleges and universities especially after boomers were done getting their degrees for essentially free.
So lets examine what the average person has to understand in the American economy,
So the average American is suppose to navigate all of the aforementioned areas with little to no government assistance. But Robinhood should be regulated, makes sense. Let's not even talk about that most Americans read at about an 8th grade level and have a tough time understanding that a quarter pounder is less than a one third hamburger...
"Why the third pound hamburger failed: One of the most vivid arithmetic failings displayed by Americans occurred in the early 1980s, when the A&W restaurant chain released a new hamburger to rival the McDonald’s Quarter Pounder. With a third-pound of beef, the A&W burger had more meat than the Quarter Pounder; in taste tests, customers preferred A&W’s burger. And it was less expensive. A lavish A&W television and radio marketing campaign cited these benefits. Yet instead of leaping at the great value, customers snubbed it. Only when the company held customer focus groups did it become clear why. The Third Pounder presented the American public with a test in fractions. And we failed. Misunderstanding the value of one-third, customers believed they were being overcharged. Why, they asked the researchers, should they pay the same amount for a third of a pound of meat as they did for a quarter-pound of meat at McDonald’s. The “4” in “¼,” larger than the “3” in “⅓,” led them astray. --Elizabeth Green, NYT Magazine, on losing money by overestimating the American Public Intelligence."
The REAL QUESTION is what responsibility does the government have to insulate the average American from an economy that by its very nature is predatory, especially when the argument set forth by William Galvinson is that the public doesn't understand how to invest on Robinhood. Especially since the government has told the public from day one to take care of themselves as they get older through investing instead of expecting the government to provide assistance. By removing or regulating Robinhood, the fungibility of the average American's dollar will drop in value because they are prevented from another avenue of wealth accumulation, which research shows (at least for those in poverty) they turn to gambling as a means of wealth accumulation because even though the return on a gamble is less it is technically even since their dollar is also worth less.
I think I may have gone on a rant, sorry.
TL; DR,
Please buy me some tendies William Galvin, because I like to be wined and dined before I GET FUCKED!
Robinhood isn't gambling. Robinhood just provides a service to investing on Wall Street, the actual gambling is our devotion to supply side economics which is the original, STONKS ONLY GO UP 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
Also, if we are going to start regulating Robinhood because of the actions of a minority (WSB) then we should start regulating other industries that are WAY more predatory and impact a larger amount of the U.S. such as, payday loans, guns, pharma industry, surprise medical bills from emergency rooms, childcare, prison industry, bail industry etc. I bet you the cost to the U.S. economy from those industries is way more than anything Robinhood has done.
Positions: SAVE at 18.45 67 shares; and TQQQ 5 shares at 174.71
submitted by TankMainOW77 to wallstreetbets [link] [comments]

$BFT (FoleyTrasimene II), SPAC to become Paysafe

I think that this one has been under-reported somewhat but since I work in the online gaming industry, it showed up on my radar.
This SPAC has reached a deal to bring back Paysafe to the market, at a valuation of 9 billions.
What is Paysafe?
Paysafe Group has been consolidating the market for e-wallets and alternative payment methods for years and went back into private hands 3 years ago.
They regroup all the main e-wallets used for online gambling and Forex: Skrill and Neteller and also prepaid cards (to be bought in 7/11 and the like) under the Paysafe brand.
Why e-wallets matter in the online gambling market?
E-wallets and prepaid cards represent about 25% of the volume of payments in online gambling in UK, Europe, Canada and Skrill/NetellePaysafe are by far the biggest names in this field.
https://www.fisglobal.com/-/media/fisglobal/WorldPay/Docs/Miscellaneous/Gaming%20Payments%20Report%202019
Neteller and Moneybookers (as Skrill was known then) were dominating the US alternative payment methods gambling market in the US before they got pushed out in 2007. They still have high name recognition amongst the gambling crowd and web searches in the US for these brands remain high, even if they can’t process much transactions there for gambling since many states don’t have online gambling legislations yet, or very limiting ones.
E-Wallets are often the preferred payment method for gamblers since it allows to move money from one operator site to the other quickly and cheaply. They can also use it as a bankroll segregated from their main bank account/CC and on top of that, Paysafe offers loyalty benefits to users based on their transaction volumes. As such, their user retention is very good.
The prepaid card business is also a major factor for this stock attractiveness. Prepaid cards to be bought in gas stations or the like are often preferred by gamblers who want to strictly control their gambling or those who don’t have access to a CC (maybe because they gambled too much) or those that prefer cash transactions out of privacy concerns…
Why not invest in the gambling operators instead?
Operators such as Draftkings or legacy casino groups are going to make money but the regulatory environment is harsh and gambling taxes are crazy in some states and might keep going higher.
Moreover, the regulations being so fragmented, many smaller operators push in certain states and not others and the competitive environment is broad. Remember that gambling is a fungible good. There is no difference in the casino games that the operators can offer (same game studios, same rules) and aside from bonuses and the margins on sports bets, the only differentiation is in branding, which is a thin moat on a product that often leaves the users disgruntled (losers).
Payments on the other hand are not taxed for their relationship to gambling and there are far fewer players.
How does Paysafe make money?
The margins on their products are pretty high and Paysafe charges both sides of the transaction in the case of the e-wallets and the merchant side in the case of the prepaid cards.
For the use of Skrill and Neteller wallets, Paysafe charges on average 4.5% on the merchant side for deposits and a whooping 9.9% on deposits with prepaid cards… Larger merchants certainly can negotiate these rates down but this is still a healthy fee, much higher than credit card processors.
In markets where Paysafe has established domination they charge a small deposit fee to the user and a withdrawal fee.
For now, they charge no fees to the US users in a bid to grow market share surely but that will probably end some day.
Growth opportunity:
For now, the US online gambling market is still very limited. Most states have not legalized, the majority of those who have legalized only did so for sports betting and then a handful have legalized online casino gaming (where the real money is made). The opening up of the market is bound to grow as states need money and more of the world moves online.
https://www.playusa.com/us/
It is estimated that the online gaming market could reach 25 billions a year in the US in a few years time and 150 billions worldwide.
https://www.gminsights.com/industry-analysis/online-gambling-market#:~:text=The%20North%20America%20online%20gambling,CAGR%20during%20the%20forecast%20period.
https://www.grandviewresearch.com/press-release/global-online-gambling-market
These revenues do not equal to deposited amounts, they equal net deposits (deposits minus withdrawals). The hold % of online casinos can be anywhere between 50% and 80% depending on how degenerate the market is in a given country but we can conservatively assume 60%.
This means that deposits volume in the US alone would reach about 40 billions, Europe about 50 Billions and worldwide 250 billions.
That should give Paysafe around 8-10 billions in transaction volume per year in the US alone , another 10-12 billions in Europe and conservatively, another 20 billions worldwide.
Valuation estimates:
Rough estimates are therefore revenues of about 1.5 billions per year for Paysafe group in a few years for gambling alone.
Paysafe claims 1.5 billions in revenues total projected for 2021, with only a third from gambling.
Even assuming no growth from the other verticals, this means that the total revenues of Paysafe should grow by 66% with gambling alone in the next 5 years or so.
Pysafe is investing a lot into expansion in other areas than gambling, notably video-gaming and remittance so assuming they don’t fuck it up completely, we are likely to see a 3 billions dollar in revenues in the next 5 years.
Using Paypal’s marketcap vs revenues, that would mean 50 billions in marketcap for Paysafe… Of course, Paypal is ingrained deeply in the whole of ecommerce and Paysafe is more specialized in gambling which might be shakier and herefore command a lower valuation.
The deal details are not fully known but it looks like a current valuation of 9 billions for Paysafe Group upon listing.
Based on my estimates, the marketcap could reach 50 billions in a few years time, one US market for gambling fully opens.
$BFT is trading at a 25% premium right now, therefore the estimate is 4x on investment over a few years.
Obviously you retards are not the most patient bunch but I believe the stock will jump when it morphs and so keep an eye out for the options.
submitted by According-Town-5373 to wallstreetbets [link] [comments]

It's time - Hawaii needs to legalize gambling.

So we've all seen our lawmakers discussing possible sources of alternative revenue for the State of Hawaii in light of the pandemic's effects on tourism. We always hear the same ideas being pitched - agriculture, renewable energy, astronomy, legalizing recreational cannabis, etc. Maybe those things will help, maybe they won't.
Don't know how many of you read the recent news story about how a couple of Vegas casinos are going to lay off hundreds of workers because of a decline in revenue, specifically mentioning the decrease in visitors from Hawaii.
Here's the link: https://www.khon2.com/coronavirus/drop-in-hawaii-tourism-leads-to-massive-layoffs-in-las-vegas/
I would be willing to bet my house that no other state in the country has as big an impact in terms of revenue in Las Vegas as Hawaii does. This story is evidence of that.
So why is gambling still illegal here? Lawmakers are racking their brains to come up with alternative revenue sources for the state since tourism is in the tanks, and the answer is staring them in the face. Blows my mind.
submitted by kanaka-haole808 to Hawaii [link] [comments]

An Island Nation with Bitcoin as the currency

Hello all,
I am here with my plan for my subreddit Reddit Nation
If you are interested in joining a (hopefully) newly formed island nation then this is the place to be.
I have prepared a plan that explains how we will go about doing such a task. More detailed elaborations for each component of the plan will be given at request.
Obviously the first question is where we would have our island. I have identified places of interest. One place of interest is the Nation of Belize. Belize is a small nation with a low GDP of 2 Billion and they are selling off most of their island. Islands with 50-100 acres can be acquired for around 500,000; give or take 50,000. From the people (Government Officials) I have contacted, they are perfectly okay with this plan.
Now here is a 5 step proposal of how this will come to fruition (I will expand on how we will finance this)
  1. Acquire the island
  2. Set up the initial infrastructure
    1. Form of Government that I propose is a constitutional monarchy
      1. Country will be run as a democracy (two chamber form of parliament)
      2. Noble titles such as Duke, Earl, Count, Lord, Baron etc will be sold off to help initially finance the island.
    2. Establishment of the Government Building
      1. For now this is where the government will convene until more infrastructure is added and the island is improved.
      2. People will be made citizens at this location
    3. Establishment of Civil Services
      1. Waste collection, Police, Social Services
    4. Establishment of a Port
      1. This will allow supplies to enter the island.
      2. This will allow for the island to participate with the rest of the world economically(I will expand on this later).
      3. The port will function as the entrance point and exit until the runway can be constructed.
    5. Establishment of Resident Housing
      1. This temporary housing will be until the island can be developed and more permanent buildings can be put up.
      2. Resident Housing and the Government building will be set up near the port until island development is completed
    6. Set up a massive solar powered crypto mining operation to help finance further development of the island
      1. A partnership with big mining companies can be brokered to have this set up
  3. Make the Island a desirable location
    1. Set up the island as a luxury city
      1. Free housing for citizens
      2. Free healthcare for citizens
      3. Free schooling and university for citizens
    2. Build resorts and legalize gambling on the island
      1. The revenue generated from such activities will help finance further development of the island
      2. With the revenue generated from this, the island will be able to provide for the residents a luxury city
      3. The gambling industry investments will help to finance the island as well
    3. Make the island a banking haven
      1. Set up a bank on the island
      2. No KYC laws will be enforced on the island
      3. This will attract forgien investment into the island
    4. Allow cryptocurrency companies to conduct business without oversight and for miners to set up large scale operations using solar powered energy
    5. No income tax,sales tax, capital gains tax or corporate on the island
      1. Commercial businesses such as casinos, resorts, and banks will just pay slightly inflated property taxes
      2. This will help attract a lot more forgien investment as well
      3. Will attract companies to set up offices here and thus bring jobs to the island.
  4. Expand on the island infrastructure
    1. Build an airport. The islands have enough space to accommodate runways for planes even up to jumbo jets
    2. Build more free luxury housing for residents
    3. Establish schools and universities
    4. Establish libraries
    5. Establish Museums
    6. Establish a healthcare system
  5. Enjoy the luxury haven of an Island that we have built
Now for the question of how much this island will cost and how we will get the funding
According to my calculations (you can look at them below) it will cost us $2,600,000
Now in regards to how we will raise that sum
If you have made it this far, please join the subreddit for this plan
More information to come soon, thank you.
submitted by OGKebabEater to Bitcoin [link] [comments]

Arguments For/Against the Casino Gaming Ballot Measure

One of the ballot measures we're voting on this year is whether or not to allow a casino to be built in Norfolk. While I personally have no interest in throwing money away hanging out with boomers at the local craps table, I don't really see a reason to prevent others from doing it.
Anyone else have more nuanced arguments for or against?
submitted by BefuddledMonkey to norfolk [link] [comments]

OfflineTV and Friends Minecraft Server Season 3.5: After Toast (AT) | FTB Revelations: New Beginnings | (Dec. 5) News and Casino Leaderboard (#7)

Ocean's 4

Ocean's 4 is not a faction but a group that is made with the sole purpose of hiesting a casino. The group is made due to the desperation of the members because of the loss of their money in the casino. Their addiction clouded their minds and they blacked out until their money was no more
Leader:
Lily
Members:
Kris
Ryan
Sydney
=====================

News Headline

===

The Roulette Has Been Installed

The Roulette has been installed in the second floor of L'Ottos Casino. Another Blackjack machine is also being installed in the Casino
A Leaderboard will also get added to show the amount of money on the residents' L'Otto Card. This will urge the residents to not cash out immediately and higher standing in the leaderboard will give benefits in the Casino
===

Town Center Amusement Park

The Amusement Park, named Pog Park, is almost at the end of its construction. Testing has been completed and safety has been provided in the rollercoaster called as the Hype Train
Please pay 10 Diamonds to Santa to get a ticket to ride the Hype Train

News

Its_Fundy has descended upon the lands!
A new resident became a victim of the Casino and became addicted in gambling and lost $2000 and had a debt of $3000
In order for the new resident to pay back the debt, she decided to work for the Casino after Ryan and Ludwig offered the option
Ludwig almost scammed Sydney from becoming a supervisor and hitman of and to Lily
Lily got possessed for a second and became Don Lily. Capo Ludwig had a PTSD after hearing Don Lily and there was a sudden shift in power
Fortunately, they returned to their senses and everything went back to normal
Lily will build a Grand Piano in the Casino and will provide live concert to make residents gamble more
Rumors also has it that Tubbo of The Hive faction has a deal with L'Ottos Casino as the main bank
A secret heist group has been instated by 4 residents and it's called Ocean's 4. Their purpose is to attempt a heist at L'Ottos Casino and rob them of money
Ludwig plans to host a pool party with Diamonds tomorrow in his Casino because voices in his head told him that his Diamonds might disappear tomorrow
Astral Sorcery Queen Sydney started to build her Magic Shop in the Black Market Mall
Krinios has descended upon the lands!
TheJennyWang (Toast's sister) has descended upon the lands!
Local resident flies around the world to find Farmer Villagers in Villages. He became frustrated at not finding any Farmers and only Jam Guys, Clerics, Shady Merchants, Santas, Apiarists, and Botanists. He massacred all villagers in a Village that did not have any Farmers
Upon being devastated at not finding a Farmer Villager, he made a Villager Spawner in hopes to spawn Farmers, only to find out that they disappear after a while
He made a Smeltery under the spawner to harvest the Villager's blood, which are molten Emeralds
Construction and renovation of L'Ottos Casino has resumed
=====================

Casino Leaderboard

The Casino Leaderboard is a leaderboard for the casino that shows the top members who has the most money in their L'Otto Card. Top members has benefits in the casino such as lowered percentage when cashing out up to 2%
As of 12:40 am PST
=====
Rank 1
Abe - $1000
Rank 2
Sykkuno - $572
Rank 3
nhoJ - $345
Rank 4
Slam Dog Millionaire (Janet) - $42
Rank 5
Ash - $42
Rank 6
Rhiga - $12
Rank 7
Miyoung - $6
Rank 8
Jawsh - $0
Rank 9
Hannah - $0
submitted by TheOmegaOne9000 to offlineTV [link] [comments]

DraftKings (NASDAQ: DKNG) - Deep Dive Research

Hi everyone! I am working non-stop provide the best research and analysis regarding DraftKings (NASDAQ: DKNG). I originally posted my overall investment thesis on the company a few weeks back and now I am breaking down and analyzing the latest news and developments regarding DKNG! And no, it is not the ticker symbol for Donkey Kong.
DraftKings in my opinion, is the best pure play investment if you want some exposure to the sports betting, iGaming, and daily fantasy sports space. They're founder led (3 founders to be exact) and they're invested into the company themselves right alongside all of us shareholders or potential shareholders.
Within the last week, there has been some exciting developments regarding DraftKings. I will share them below:
DK Gift Cards Are Live! You can buy a DK gift card as a stocking stuffer for Christmas if you want.
I’m really excited to hear this news. It’s only going to increase the brand awareness of DK and that’s what we want. According to the press release on DK’s investor relations website, they’ve partnered with InComm Payments to facilitate the launching of the gift cards. InComm payments is a global leading payments technology company that has a network of retailers that DK will be able to leverage through this partnership. Convenience stores like 7-Eleven, Speedway and Dollar General are just some of the many convenience stores in Incomm Payments’ network that DK will be able to leverage. For now, the gift cards will be offered in $50 and $25 denominations.
The great thing about this to me is that they’ve beat their competitors to this. That shows managements initiative and ability to get things done which I complimented when I first picked this company. As of right now, you’re not going to be seeing any “FanDuel” (boo FanDuel *thumbs down emoji*) gift cards in the stores. Tim Richardson, the Senior Vice President at InComm Payments was quoted as saying “DraftKings will benefit from having its brand present in tens of thousands of Incomm Payments’ retail partner locations across the US”. Overall, good news for DK.
New York State – Getting desperate? Do they need some online sports gambling revenue?
I want to make this clear before I write about this topic – sports betting is already legal in New York state. The problem is, it’s only legal in brick and mortar (retail) locations. Just under a dozen upstate casinos can operate brick and mortar sports books at the moment. In typical DK fashion, they’re already active in a casino in New York State. DK offers in person brick and mortar sports betting through the Del Lago Resort Casino in Waterloo, NY. My news update I’m sharing is that it appears New York state might be considering expanding to online sports betting too due to a budget shortfall they’re experiencing (they need more tax revenue).
This news came out on Wednesday, 12/16/20 during the day time. Governor Cuomo had a press conference during the day. The press conference was primarily focused on giving an update on the COVID-19 pandemic in New York state. During the presser, the topic of New York state’s budget shortfalls came up. As a possible financial solution, Cuomo said “Are there other ways to get revenue? How about marijuana? How about sports betting?” He’s referring to the possible tax revenue that could be collected if sports betting offerings were expanded beyond just the brick and mortar offerings. What if every New Yorker could place a sports wager from the comfort of their own home on their cell phone?
The battle for legalizing online sports gambling in New York has been going on for years. Governor Cuomo has always been opposed to it. One of the reasons Gov. Cuomo has cited in the past is that he thinks a constitutional amendment would need to be made to New York state law to allow for mobile sports betting in the state. However, one state representative from New York that has been pushing hard for online sports gambling begs to differ. In response to Cuomo’s comments in the presser earlier that day, State Senator Joseph Addabbo said that there would be no constitutional problem with mobile sports betting because the servers could be placed on site of grandfathered in physical casinos. Addabo said that New York state’s need for revenue is “real and immediate”
This is a situation to keep a close eye on. The impacts of legalizing mobile sports betting in NY would be substantial for DK as it would open the population of 20 million people in NY state the opportunity to place wagers on the DK Sportsbook app through the comfort of their home. I imagine it wouldn’t be too difficult for DK to mobilize once they get the green light for mobile betting as they already have the standing relationship with Del Lago Resort Casino for in person betting.
The Michigan Gaming Control Board (MGCB) granted DK a provisional license to conduct online gaming and sports betting in the state of Michigan
For this update I also want to be clear – retail (brick and mortar) and mobile sports betting are already legal in the state of Michigan. It’s just that there’s a lot of yellow tape for Sportsbooks like DK to navigate within a state even after sports betting has become legalized. This provisional license provided by the MGCB was provided to DK and 14 other sportsbooks (including rival FanDuel) on Thursday, December 10th last week.
Now there are just a few more regulatory requirements that DK has to meet in the state of Michigan before they can go live. According to http://www.michigan.gov, “Before launch happens, the platform providers must complete additional regulatory requirements including independent testing of platforms and games and MGCB approval of their internal controls, which ensure gaming integrity. The firms also must secure occupational licenses for certain employees.” You can read the full article on Michigan’s government website here.
Knowing that DK has a knack for being quick to mobilize once they’re given opportunities in respective states, I fully expect them to pass these last few tests with flying colors. The DK Sportsbook app has already been available in the state of Michigan for “free to enter” games. Once they pass the last few requirements, actual wagers will be allowed to be placed. And money will be allowed to be made!
Another promising sign coming out of the state of Michigan, is that on November 30th, 2020, DK became an official sports betting partner of the Detroit Pistons, the NBA basketball team in Michigan. DK Chief Business Officer, Ezra Kucharz, was on the record after the deal closed saying “As our first professional team activation in the state of Michigan, we are thrilled to join forces with the Detroit Pistons ahead of our pending market introduction”. In my opinion, I anticipate we’ll be seeing DK online sports betting in Michigan some time in early 2021.
This concludes my update and analysis on DraftKings.
TL:DR
submitted by Historical-Comment36 to investing [link] [comments]

The Bollywood film ‘Dhoom’ (2004), misinterpreted as an action thriller, is in fact a rigorous allegorical analysis of economic policies, particularly in the Indian context in the early ‘00s.

Spoilers ahead.
Connoisseurs of film are undoubtedly well-aware of La Nouvelle Vague, aka, the ‘New Wave’—an experimental movement in filmmaking with its origins in the French cinema of the 1950s, with an emphasis on exploration of personal themes such as existentialism, iconoclasm and absurdism. Although the ‘New Wave’ is considered to have met its chronological end in the late 1960s, to be followed by successive movements like ‘New Hollywood’, ‘Cinema Novo’ and ‘Dogme 95’, the influence of la nouvelle vague continues to be keenly felt in the artistic masterpieces of Bollywood production house YRF. Under the skillful hand of renowned auteur Aditya Chopra, the studio has produced a lineup of commercially successful arthouse flicks that continue the French filmmaking renaissance of the ‘50s, successfully infusing avant-garde storytelling techniques with high production values and modern Indian themes. Nowhere is this revolutionary vision more evident than in films like DDLJ (a masterpiece in abstract, absurdist storytelling), Mohabbatein (a sensitive examination of the taboo topic of attitudes towards adolescent self-gratification), Kal Ho Naa Ho (an ambitious adaptation of historian David McCullough’s book 1776), Jab Tak Hai Jaan (a religio-philosophical drama that engages in debate upon the tenets of Christianity, Shaivism, and the cultural taboo of Kala Pani) and, of course, the Dhoom franchise.
As YRF’s most popular franchise, the Dhoom series has, with each installment, made great independent strides in cinematic theory and practice. Although—as read above—YRF films explore a wide, varying range of topics as a whole, the Dhoom franchise focuses exclusively on the examination and discussion of economic and socio-economic matters of policy and practice in the Indian context. Over the course of 3 films, the discourse acquires a rich depth, with the analysis of issues including the economic costs and benefits of national highway construction, the clash between entrepreneurial aspirations and the security of bureaucratic employment, the 2008 economic recession in the BRICS context, and the causes and consequences of non-performing bank loans and a profiling of defaulters of on said loans. Indeed, a first course on Indian economics at any prestigious institution may well be framed around careful viewing and discussion of the Dhoom films. In the careful hands of Aditya Chopra and Vijay Krishna Acharya (Dhoom 1/2/3, Tashan, Thugs of Hindostan), each Dhoom film achieves a delicate balance between the overt cops-and-robbers heist story and the covert exploration of complex economic schools of thought.
As the 1st film in the franchise, Dhoom (2004) establishes the storytelling framework for the films to come, and by itself explores the challenges and opportunities presented by Indian economic policymaking in the early ‘00s. The film features an all-round star-studded cast, with support from Honorary Roadie & Stardust Awards nominee Esha Deol, Star’s Sabsey Award winner Rimi Sen, and Indian Telly Award nominee Arav Chowdharry. At the film’s helm are Lions Club Award winner John Abraham, Sansui Award winner Abhishek Bachchan, and Emmy nominee Uday Chopra. Series regulars Bachchan and Chopra play Jai and Ali respectively, Jai being a policeman and Ali a small-time mechanic with a penchant for fast bikes and disinterested women. Abraham essays the villainous role of Kabir, part-time restaurant waiter and part-time leader of a gang of biker thieves.
The film begins with a series of daring heists pulled off by Kabir’s gang, relying on their high-speed bikes to orchestrate sudden thefts and promptly escape the scene soon after. Their exploits catch the eye of Jai, a lifetime appointee to the post of Assistant Commissioner of Police. Jai, however, finds himself out of his depth and through a series of accidents, makes the acquaintance of Ali, a mildly-seedy mechanic and bike racer. Initially reluctant to be associated with law enforcement, Ali is eventually induced to join Jai’s cause and attempt to chase down Kabir and his merry band of men. Dhoom is slow and deliberate in its setup, and the film’s early minutes are heavy on subtext and detail, therefore, it is essential to take in the plot in small increments, so as to be thorough with one’s analysis.
In an allegorical sense, Jai, as a police officer, represents bureaucratic authority and the security, comforts and powers of government employment. Abraham’s Kabir, as a thief, is a laissez-faire capitalist, relying on his material advantage in the form of fast bikes and his manpower advantage in the form of skilled bikers to partake in a series of one-sided transactions with economic entities such as banks and government funds. In this sense, the act of robbery in Dhoom is merely a transaction between two private parties wherein one side gains an unfair amount at the other’s expense, absent external interventionism. In addition to being a free-market advocate, Kabir is also an employee at a pizza parlour, which seems to be the film’s attempt at exploring both the growing role of the service economy as a share of India’s Gross Domestic Product (GDP), and the amorphous nature of employment within the modern ‘gig’ economy. Caught between the competing ideas of state-control and free capitalism, Chopra’s Ali is a stand-in for the directionless youth, lured by the safety and dignity of a government job, whilst simultaneously seduced by the potential for greater wealth presented by free-market capitalism. The film’s plot is overt in this depiction, with Ali simultaneously fearful of Jai’s authority, yet desirous of wielding said authority as an employed policeman. Furthermore, in an action sequence set in Mumbai’s Chor Bazaar—a flea market specializing in illegally-hawked goods—Jai and Ali get into a fight with goons in the market, and are forced to make a hasty escape after being outnumbered. Ali bringing Jai to the market illustrates his ties to the informal, underground economy—a large, undocumented component of the Indian economy—and Jai’s subsequent fleeing the scene highlights the failed outcome of government attempts to regulate this grey economy by force and bluster.
Initially at a loss for clues, Jai is eventually able to deduce that Kabir’s bikers arrange their heists in close proximity to highways, providing as the highways do quick getaways after. This is no doubt an allusion to the economic importance of the National Highways Authority of India’s flagship ‘Golden Quadrilateral’ national highway construction project. Kabir, the raw capitalist, is empowered in his capitalistic pursuits by the government’s infrastructure investments, and John Abraham’s moody expression throughout the film is in no small part perhaps due to the discontentment within Kabir’s mind about his enterprise’s dependence on resources provided by the state. Having deduced Kabir’s MO, Jai and Ali attempt to catch him in the act. However, Kabir and his gang appear to have substantially faster bikes than Jai and Ali, which is undoubtedly an allusion to the government’s perceived ineptitude and inability to generally compete with private enterprise. Left chafing and chasing the dust, Jai catches a lucky break when an overconfident Kabir offers him a clue about his upcoming crime, with the catch being that if Jai fails to avert it, he must recuse himself from the case and leave Kabir to his entrepreneurial pursuits. Kabir, the staunch capitalist, is here hinting at the idea of termination clauses in Public-Private Partnerships (PPPs), agreements between enterprises and governments for mutual benefit. Whilst the government naturally retains the right to sever the partnership at any point, Kabir clearly believes that he, as the private party, is also entitled to terminate the contract should the government, aka Jai, default on the agreed-upon terms. Formally known as the ‘Authority Default’ concept, Dhoom represents this idea in the form of a simple, easy to understand challenge between Jai and Kabir.
Even as this layered conflict plays out between Jai and Kabir, Ali is enamoured by the mysterious ‘Dilbara’ (Esha Deol). Little is known about Dilbara, however, like other characters in the film, it may be reasonably assumed than she is also an allegorical depiction of an economic concept. Ali’s infatuation with her suggests that she is perhaps intended to be portrayed as a vague, undefined avenue of aspirational employment. Furthermore, the fact that she (as is later revealed) is in fact a part of Kabir’s gang, yet also harbours feelings for Ali, leads one to conclude that Dilbara represents a form of compromise between dirigisme, aka restrictive state-controlled economy, and laissez-faire anarcho-capitalism. The filmmakers leave the specifics of this compromise vague, however, Dilbara’s skimpy outfits perhaps represent the scantiness of opportunities presented by this nebulous alternative.
Returning to the main plot, Jai, despite being forewarned, fails to foil Kabir’s next robbery, despite being able to take down one of his gang in the process. Left short of a gang member, Kabir attempts to recruit Ali, left sidelined by Jai following their failure to catch Kabir. The jilted Ali readily embraces Kabir’s neoliberal worldview and the duo jet off to Goa, where Kabir has his eyes set on one final score from a casino. Subtextually, the casino and gambling in general represent what is in Kabir’s eyes an essential component of his brand of capitalism—rampant speculation and volatility that may be manipulated to one’s benefit. There may also be an addition reference to British academic Susan Strange’s seminal 1986 work Casino Capitalism, a critique of unregulated banking and financial systems. However, Kabir is more likely than not to be derisive of such thoughts, and therefore, if this reference was intended, it may merely be made to indicate the filmmakers’ complete mastery over both Keynesian and Austrian schools of economic thought.
The importance of dance numbers in YRF films cannot be overstated. Even as Bollywood music gravitates towards being little more than catchy jingles designed to elicit maximum publicity, the music and dance numbers in YRF films complement the plot perfectly, serving to both entertain and narrate. Dhoom is no exception to this tradition of excellence. On the eve of Kabir’s final heist, an inebriated Jai shows up at the casino, claiming to have left police employment and moved on. Kabir, however, is rightly suspicious, given as Jai is still a cop, and is merely attempting to lure Kabir into a false sense of comfort as a prelude to catching him in the act. This Jai accomplishes by putting on a song-and-dance in front of Kabir to convince him of his abandonment of state-sponsored socialism and his embrace of Kabir’s unrestrained capitalism. The song is entitled ‘Salamee’, a clever homophone of ‘salami’, a sausage that consists primary of beef. The consumption of beef was, in a landmark 2005 Supreme Court judgement, forbidden on grounds on anti cow-slaughter laws. Kabir, as an opponent of government intervention, would likely have been opposed to the idea of such a restriction being imposed upon him. Therefore, to show his solidarity to the cause, Jai takes to the stage in front of Kabir and sways to the refrain of “Naye kal ko aao kare, hum karein, karein/Salami, salami, salami/Kar le salami…”.
The subterfuge is apparently successful, and a placated Kabir is lulled into a false sense of security by Jai’s reinforcement of his worldview. However, as mentioned, Jai’s conversion is little more than a ruse, and a hoodwinked Kabir is successfully caught in the act by Jai and Ali, who is revealed to have been Jai’s mole all along. The ever-slippery Kabir, however, weasels his way out of Jai’s clutches, and flees with his loot. Although Dhoom 3 would better address the phenomenon of loan defaulters taking flight from the verge of captivity, Dhoom too takes a cursory look at the occurrence, although Kabir does not quite embody a loan defaulter. He is merely the free-market capitalist, the robber baron caught flouting regulations and fleeing from the consequences of government intervention. A long chase sequence ensues, with Kabir fleeing but ultimately cornered by Jai and Ali at the precipice of a sea-facing cliff. Facing a choice between certain captivity and death, Kabir chooses to fly off the cliff with the last of his loot. In a literal sense, Kabir merely dies by falling off the cliff into the sea. In a figurative sense, faced with the prospect of his enterprise being forced to comply with ungainly regulations, Kabir chooses instead to offshore his business, and make for better waters, thus bringing his character arc to a natural and satisfying conclusion. A frustrated Jai bemoans his end, representing the government’s exasperation at ultimately failing to bring a rogue enterprise to heel. Ali, having seen his capitalistic expectations dive off a cliff with Kabir, chooses in the film’s final shot, to finally pursue the path to safe, steady, state-sponsored employment after all, asking Jai if he finally is a bona-fide police officer, as the film fades to black.
The topical nature of Dhoom is a cause for admiration, even a decade and a half after its release. The film successfully ties together strands of economic and socio-economic thought from its time—the ‘Golden Quadrilateral’ project received a major fillip in the first years of the new millennium, the service sector encountered a boom around the same time, as did the contribution of outsourcing to employment and economic growth. The rise of men like Kabir is perfectly timed in the post-License Raj years, as the country embraced capitalism over state socialism. Yet, the lure of stable, ‘safe’ government employment holds true, and powers men like Jai and seduces men like Ali. Dilbara’s unknown fate at the end of the film—left waiting for Ali by the side of a road—is representative of the uncertain outcomes of economic models with time. On a meta note, the Dhoom franchise’s casting of Abhishek Bachchan and Uday Chopra in every film is a nod to the ‘Mahatma Gandhi National Rural Employment Guarantee Act’ of 2005, a flagship government initiative that guarantees employment for a certain number of days out of the year, in the form of unskilled labour.
In summation, Dhoom rightly deserves its place as a seminal film in the annals of both YRF and Indian cinema. In its own right, it is a bold, experimental film that marries erudition to entertainment. It is also the progenitor of its celebrated franchise, providing the springboard from which future films would explore similar issues in an equally deft and precise fashion. To YRF, the Dhoom franchise, and Indian cinema, the film Dhoom is nothing short of a bottle of nitrous oxide, that when attached to a bike, propels it into the stratosphere.
submitted by throwaway_intuition to india [link] [comments]

My 1 Year Anniversary of Full Time Day Trading. 3 Years In The Business. What I Wish I Could Tell Myself Years Ago.

This industry has a lack of transparency so I'm more than happy to say I will provide lots of that throughout this post with screenshots. There are LOTS of imgur links to back what I say so it's not just words on a post expecting you to just believe what I'm typing.
This post I suppose is "Part 2" my post back in April, "After 2 years of Daytrading. 7 months full time. Here's my advice". I'm doing this to update everyone who came/comes across this in the future. Yes, it is possible. No, it won't be easy. You will pay homage to the rite of passage into this career. I'll also provide some examples of styles of trading so for the newer aspiring traders, there will be some things I rarely see discussed on forums. So here's to 1 year of Full Time Day Trading

TL;DR - You'll become desensitized to trading. Stubborn to other strategies (There are biggebaddemore lucrative strategies. Don't chase them. Why fix what's not broken? I know what works for me and I'm content with it. No strategy is better than another. It's a personal choice. ). Losing individual trades won't faze you, they're inevitable. Profiting certainly feels better. After a while, you won't be as enthralled to trade every morning, it'll become just another part of your day). Trading is just managing your money through a statistic and the medium to execute it is trading on your platform. Think: "If. Then. Because". Your trading plan should be that black and white. Ask "Why" for everything you do and use. If you can't answer it with documented results, drop it.


I get a bunch of messages all the time from people asking - . Out of those who follow me and chat me seeking further tips through my previous posts. I'll be answering the FAQ's and addressing things I see frequently in this sub as far as trading axioms
Disclaimer: I won't sugarcoat anything. I'll share my experiences and add pieces of advice I'd give to those who are currently experiencing the same thing becoming a full time day trader and what day to day life is like, the occasional distress, (DRAWDOWNS). Some of you follow my Twitter for the past few months where I post my daily watchlists with a snippet that reveals my DayTradingBuyingPower. I do this not to brag but to demonstrate that the account does yield growth, I pay myself, and there are days where the balance does not move because there was no edge. I also do this since nobody else shows their account performance. (Yes. You, Mr. YouTube gurus and wannabe gurus).
We do this for income, the numbers on our accounts are real. Treat it as such. Get your initial capital out of your account THEN try to "Scale your account" with your profits AKA The Market's Money.

I'll go over:
•FAQ's that I get in my inbox (I'm still welcome to further questions if I don't answer here)
•Decision Fatigue (You will experience this)
•The previous year (2019-2020) of ups and downs
•How to use my watchlists that I post on Twitter in the morning to your advantage
•The pivotal moment that changed my trading career (NFLX 10-17-19)
•The road to becoming a full time trader. (It won't be fun unless you're handed the money)
•You'll have a better grasp of my strategy (Between ProTip 4 and 5. ProTip 8.)

There are 10 "ProTips" throughout the post that I wish I could tell myself years back and I'll periodically throw them in here as the post goes on. I make posts long in order to segregate those serious about this business and those who will just become another statistic in the failure rate of this business.

At the end of this post, I'll go over the frequent questions I receive such as: (Answers to FAQ at bottom of post.)
  1. "How do you prepare for a trading day?"
  2. "What would you go back to tell yourself?"
  3. "Books?" (The most abused question, but I get it. I could start a public library with just trading books I bought over the years)
  4. "What is your background?"
  5. "What is a normal day for you?"
  6. "How did you discover your strategy?"
  7. "What did you do/How did you get started?"
  8. "What is your % return?" (Not a fun question since a trading account is not an index or investment account. Intraday traders do not measure performance in %. Most are measured in "R".)
  9. "Is enough to start trading?"
  10. "Why do you need so many monitors"? (This one is rarely asked but I do see it discussed on platforms and people trading on mobile phones love giving flack to anybody who trades on multiple monitors. Hint: Everyone's different. Whatever works for the individual. There are no rules in trading. The only rule is that it works.)

My story:

Background:
I heard about daytrading during the 2008 crash while in high school. We all want to make more while working less. I entertained day trading from time to time but always realized I never had enough money. Horrible mindset because I could have still researched WHILE saving money to put into my trading business.
2015 - I opened my first trading account with Scottrade while in the Marines. Apparently if you have a net worth of over $1,000,000 you can get out early (Biggest rumor ever).
I frivolously bought crap penny stocks. In short - I was a hair away from gambling. What made it NOT gambling was the fact that at least I owned something tangible (Securities of a company) and anything can happen. Buy low sell high was my strategy. Didn't work obviously. No idea what I was doing. I'd buy and hold hoping to wake up to the stock price being way higher and it never happened.

ProTip #1 : If you hold a trade overnight... It is not daytrading. Stop turning into an investor because you can't admit a minor defeat.

2017 - I started taking this business seriously while working in the oilfield as a Logistics Planner (If you're wondering what company since I am asked this from time to time, Google: "World's largest oilfield services company").
No kids, girlfriend/wife or financial obligations. I worked 10AM - 7PM CST and would trade the open from home for roughly 1 hour. Later I was offered to be a Data Analyst... Only downside was... I couldn't trade since I had to be at work now at 8AM CST during the market open. In the moment of signing the offer letter, I was bummed thinking, "No more trading,"
That wasn't the case though. You can still build your trading business with a 9-5 and while never making one trade. The data is there.

ProTip #2 : We all see the same data. It's there forever. Many strategies show their edge both live and in hindsight the same. (Especially if you trade patterns). You CAN build your business as a trader without even taking a trade. You CAN build your strategy while working a 9-5. Just because you're not trading, does not mean you can't build your business through research. You won't know how you'll react to the losses but at least you can diagnose the raw data with a large enough sample size for assurance and confidence.

If you have a 9-5 and want to go fulltime into this business. Stay for a bit, save, live so far beneath your means that it is almost miserable, (depending on your expenses, area you live, family etc) and get a few hundred sample sizes of your strategy! And for your PTO/days off... trade the open. I sacrificed my vacation days to trade.
After 2 years in corporate America, eating cheap food, never going out, saving relentlessly, I made the decision to just do it and resigned. I went straight into the ring of fire known as trading. That was on: September 23rd, 2019
"" (Sound familiar?)

When you hear these types of comments.. your response should be: "Nobody put the time I put into this. The 90%+ who fail, don't have it all written out, computerized backtests, manual backtests, statistics, SOP manuals, JUST like the job I have which is a business, I'm just another cog in their wheel. I'll just be wearing all the hats in my trading business. Instead of Oil&Gas, it's just for trading". One thing I see here a lot is people saying to trade X amount of months/years or make X.

ProTip #3 - Think in man hours, not calendar. Example:
Trader A puts in 1 hour of study/work/research everyday for 1 year. (365 Hours)
Trader B puts in 12 hours of work every day for 4 months. (~1,450 Hours)
Trader A lives in a major city while Trader B lives in the middle of nowhere. (Think cost of living)
2 totally different living expenses and 2 different calibers of dedication. I'd put my money on Trader B because he put in more man hours. (~1,000 more hours on the clock to be more exact).

ProTip #4 - Have a cushion in your account AND your personal bank account. Having a strategy is great but you won't know entirely if you can fulfill and execute your plan until you experience the ups and downs both short and long term. A strategy is constant over long periods of time... there will be days, weeks, and perhaps a month here and there where you aren't making much money. We hear all the time, "Trade like a casino". Casinos don't make money day after day but the odds are in there favor over the long haul.

Month 1 of full time trading was great:
Immediately after going full time, the first month (September 2019 to October 2019), I did super well. Business as usual. No stress. Everything going as planned. No turbulence. At least not like I had ever experienced...

The 2 prerequisites I had before resigning was:
  1. Show consistency in returns. Consistent Sharpe Ratio.
  2. Make a 4 figure trade (I achieved this while short 100 shares on ROKU September 20th, 2019 and even made a victory post if you scroll down my profile's posts.)

First life-changing trading lesson learned as a full time trader:
That money printing spree ended on NFLX October 17th, 2019. Less than 1 month of being a full time trader. Deviating and going against my plan I actually made $500 in a matter of 4 minutes. If you follow my watchlists on Twitter, I always trade with the direction of the gap. If I notate, "Long Watches" that means I will only trade it IF (and only IF) I see a long biased pattern. Likewise I will only be looking to short my "Short Watches". Plenty of times I'll call out a ticker and it immediately goes the other way. No harm no foul because there was no long biased pattern to confirm my thesis.
On 10-17-2019, I went against my plan and it worked.. NFLX gapped up to resistance and I went short when it tanked off of a short pattern.(This is known as fading). The market gave me a free lunch and then some. So now I'm walking on air in my mind:
"I'm an absolute unit"
"I'll do it again and clear another $500 to make it a 4 figure day before 9:30AM Central"
"Should have quit my job way earlier being this good."
Within 30 minutes of the open. I gave all $500 back. Yes I wanted to trade it back. Never have I had the desire to smash anything but I do understand those who do! Yes I stood there and felt like each passing second was wasted opportunity. The next 24 hours were long!

ProTip #5: It's circumstances like that that help you in the long run. FunFact: I never once deviated from my plan since. Not ever again.

"I could have paid for my groceries and electric for the month after 4 minutes of trading if I just took the free pass the market gave me" I felt dumb but in hindsight, I'm glad at what happened. It was this exact instance that married me to my strategy/business plan. The next day and the 7 trading days following. I didn't make 1 profiting trade. My longest ever drawdown - 11 straight trades. While researching I found out this was Decision Fatigue (I'll go over this shortly below)

Put yourself in that situation...
You have bills and your income is strictly trading. I don't care how much a robot you think you are or how strongly you believe in probabilities, when you were in an office less than a month ago making almost 6 figures sitting in an air conditioned office knowing direct deposit is on its way every other Friday no matter how well or poorly you performed at work.. Now you're in the hot seat. Its a bottomless feeling. Now all of your friends and families words are ringing in your head.
But just like a boxing match.. you gotta take a hit to get a hit. Win some, lose some, shake hands and get back to normal life. Water under the bridge.
Mind you:
•No guaranteed direct deposit every 2 weeks.
•No more medical/dental insurance.
•401K retirement is no longer being matched.

11 trades is nothing. You only require ~5.5 trades at 2:1RRR to make it back OR 3.5 trades at 3:1RRR. It's nothing especially in your research because you can easily just scroll a little more and see, "Oh that's just a drawdown. No big deal". How will you react in real time? Will you buckle or choke? But the thing is, I was skipping trades out of fear and JUST so happened to be picking all of the unsuccessful ones. (Decision Fatigue)
Think about those 2 weeks of being in a drawdown. Half of the month. You're not just stagnant, your account is bleeding slowly but surely. Next time you're looking at your spreadsheet/backtest/predictive model/research.. try to put yourself in those days of drawdown. It's not just 11 boxes of red with "-1R" or "Loss" in them. The screenshot above on Imgur is just a recent example.
Think about your daily routine, going to the gym, hanging with friends, grocery shopping, cooking, going to bed, waking up, doing a routine, then losing again.. and again.. and again. Try to think of life during those 300+ hours (Weekends too) of, "I haven't made money. I've lost money. And I still have bills. After paying them, I'll be closer to my set Risk of Ruin".
Here's a lesson you won't learn before going fulltime but I'll do my best to emphasize it here:
Pick a strategy. And stick with it. It can literally be anything. Don't spread yourself thin watching 20+ tickers and be a jack of all patterns/tickers. Be a master of 1 pattern and master of 1 circumstance. There's this real thing called "Decision Fatigue" which explains exactly why what happened.. happened. The article explains that the 2 outcomes of this mental strain known as "Decision Fatigue" is:
  1. Risky Decision-Making
  2. Decision Avoidance
Sound familiar? Does it kind of make sense now? As a new trader you have YouTube, Facebook, StockTwits, Twitter, "gurus", books recommended on Amazon, all throwing their ideas/strategies around, the market has opportunities littered all over.. Decision Fatigue is inevitable for the unprepared. Decision Fatigue happens in every profession. If you mess up at your 9-5, its just a blunder, your paycheck will remain the same. Just a slap on the wrist and move on. With trading, you make a mistake.. it's less food on your table, lights don't stay on, and/or water isn't running. That pressure adds up. No wonder so many fail...
The signs of Decision Fatigue:
•Procrastination.
•Impulsivity.
•Avoidance.
•Indecision.
When you find what clicks with you AND its either statistically or performance proven, have the courage to risk a healthy sum of your capital into it. There are strategies/patterns/styles of trading littered all over the internet:
Very broad example:
"IF circumstance happens THEN "Execution". Stoploss is XYZ. Target is XYZ. BECAUSE over a series of Y trades, I will make $X,XXX.xx".


ProTip #6 : Strategies are all over the internet. It's your account/money, backtest it. People share their strategies here all the time and although I don't agree with them because I know what works for me, it's something to chew off of for you newer traders. YouTube is a harbor with people who give just enough info to figure their style out. You will lose trades. Sit for some screen-time and pay homage to the edge that you discover. All in due time.

Insert key metrics and find correlations. This is how you create checks and balances to create/formulate a black and white trading plan. When I first started doing this, my spreadsheet(s) had so many columns it was annoying and would kill my desire to continue working. You'll find things that are imperative and some that are unimportant. For a lack of more colorful terms: "Throw stuff at the wall and see what sticks" Trim the fat. Rinse and repeat.

Here's some things I used to remind myself of and perhaps it'll ring some bells for you:

Surrender your capital to your edge. If you truly accept the risk and trust your proven edge, losses don't feel like anything nor do profits. Although we're not here to put on losing trades and yes it does feel nice to profit. I still from time to time will excited when I hit target after a series of multiple profiting trades depending on my mood.
If you're nervous or your heart starts beating quicker when you hear the sound effect of a trade getting entered/filled. Be honest with yourself and ask yourself if you're truly accepting the risk.
Things you can't take to the bank:
  1. RRR.
  2. Win-Rate
  3. Number of trades.
  4. "This one great trade that I hit target in less than 30 seconds and I got filled better than expected"
All of these are integral metrics. But you're trading to make money. It's up or down, green or red, profit or loss, TRUE or FALSE. So with that said, find what works flawlessly and is easy to follow. Checks and Balances. Then allocate a good sum of risk into it. I read it here all the time, "Don't risk too much" and that's great and true for new traders. But don't sell yourself short. Push yourself over the edge and admit that you know your stuff. Think of Trader A and Trader B. If you've put the time in.. don't sell yourself short. You've built enough courage to learn a business so many fail at. This business has such a negative connotation. But remember that not everybody can handle meritocracies and that's exactly what the market is. Don't try to be the best, just work harder than everyone else and the output of your input will be relative.


ProTip #7: YouTube trading ads from gurus... they're subconsciously making you think you're a novice trader. It's in their marketing. They study marketing psychology. The EASIEST things to sell:
  1. Health
  2. Wealth
  3. Happiness
People that are desperate for those things are the most vulnerable and these "Traders" marketers are fantastic at portraying all 3 of those things at once.


ProTip #8 (Broken record alert) : Write a business plan. Your strategy shouldn't take longer than 4 sentences to explain to another trader. When you have a plan that's proven through a statistic and WAIT for it to happen, you feel 100X better taking the trade. You don't even care too much when it results in a loss. Because that was your plan, you accept it much better, and you know it was just an expense for a winning trade.


Want my strategy? "I scan for stocks with a market cap of over 250M, 10k shares premarket, gapping to support or resistance, priced over $10, and I look for a pattern biased to the direction of the overnight gap. It isn't rocket science. Check my Twitter, look at the dates I posted, and you'll notice the gist. Yes this is an edge but not the entire edge. How fast can you sift through 15 time frames? How long does it take you to fill out your order ticket? Your Fibonacci time extensions with 5 EMA's and Bollinger Bands aren't helping you. They're lagging. If they work for you, great. In my experience, they hindered my visibility.


Pro Tip #9: Yes statistics are highly applicable to trading. Patterns do work. All patterns do is tell you WHEN to enteexit, and how many shares. Humans will never think differently of money. Be the frontrunner of the market's emotions. Nobody remembers the indecisive leader. Risk taking is a commonality amongst leaders. Trading requires courage and it's O.K. to show a bit of confidence as long as you also have the humility to admit when you're in a bad trade. (Notice how I didn't put, "wrong". You're only "wrong" when you deviate from a proven strategy.)


ProTip #10: Risk management is 24/7. I've never heard anyone mention this but think about it a little bit. Having financial obligations can become stressful regardless of how you earn your income but its far more stressful while running a business. Not just any business, but a business where you can go to work on your A-game, do every single last thing right, trade without emotion etc... and still walk away with less money than what you came to work with. Meanwhile somebody who JUST started trading made a 4 figure profit not knowing what the heck the difference between ETB, HTB, or NTB. Think of it like this, a JV high school baseball player can hit a homerun off of an MLB pitcher once.. but how will he fare at the end of the season? Traders don't predict stock prices, traders predict the outcome over hundreds of trades. People chat me asking what TO do rather than what NOT to do. You don't learn labor intensive jobs or how to fly a plane by what to do.. you learn what NOT to do to stay alive.

That's all I have. Once you have a trading plan underway and you're executing it, you don't have much time when your hobbies are cheap but I still do respond to chats/messages. I do get asked from a previous post when I'll build a website and to answer that: I'm learning how to build a site on rainy days. Can't put a definitive date on it. I will say that its coming, if you don't give up on this business in the next year or so, you'll see it. What I plan on putting on there:
  1. RiskReward Calculators
  2. Position size Calculators
  3. EV Calculator
  4. Dictionary with examples
I just don't want some generic WordPress site. I want my website to be stellar and a great resource for aspiring traders. Something I didn't have learning this business. I want it to be something I'd consider a staple in a trader's resources. Perhaps one day it will be referenced on this sub frequently.
FAQ:
  1. "How do you prepare for a trading day?" I get behind the computer about 20 minutes before the bell. Reason being: "If you study long. You'll study wrong". If the chart isn't grabbing my attention and gets me excited, then I flick to the next ticker. I don't even know the companies I trade half the time nor do I care about a news report some journalist wrote. Also there is no magic news outlet that lets you know about "Major events that affect stock prices". If there was, I wouldn't be here because we're all subscribed to the same edge nor would I be trading my style.
  2. "What would you go back to tell yourself?" Get more data. Save a little more, your hairline and sleep schedule will thank you. Take only perfect trades and don't feel forced to trade. There will be days you don't touch an order ticket. And days where you are busy and have tunnel vision. Next thing you know its time to shut it down for the day.
  3. "Books?" - I try to humble myself when answering this but off the cuff, they're all mediocre. Andrew Aziz's was ok, definitely get it, it's only a few bucks on Kindle. Just don't expect it to give you strategies BUT it will give you ideas. If you're brand new, it is good as it will teach you the common vernacular of a day trader. Mark Douglas was interesting but his YouTube seminar recordings are much better. No book, Facebook group, YouTube channel is going to be the end all be all perfect strategy. Expect losses. Don't be a one hitter quitter after suffering a few tiny losses/paper cuts. Stick to it. Most books will help you familiarize yourself with the common vocabulary amongst traders and will hint ideas. It's your job to formulate the strategy and template for research.
  4. "What is your background?" I was a logistics planner for a major oilfield services company. Later I then became a data/buyer analyst so yes, data analytics/research was a 2nd language for me entering trading. I did have that upper hand and did shave off months if not years for me.
  5. "What is a normal day for you?" I'm always done trading after 10:30AM Central. I will hold onto a trade until right before the bell if it hasn't hit either target or StopLoss by the time I leave the house but it is absolutely closed in entirety by 2:55PM Central. After I trade, I enjoy the day. No I'm not riding around in my Lambos posting IG/Snapchat (I have neither) stories of my profits with my private jet waiting on a runway trying to sell an $7 eBook or a $100 membership (HINT HINT). I grill/cook, read, workout, ride my motorcycle, attack my other sources of income (small businesses I'm building), hit the driving range, shoot guns, etc. I live in Texas. Life is cheap and fun here.
  6. "How did you discover your strategy?" I bought TradeIdeas premium, went through all of their computerized backtesting patterns, tested them. Then did what I mentioned earlier... Tried to find correlations in metrics. It distilled the trades to a strict criteria and here I am. I post on average 4-5 tickers on my watchlist. 7 max. I do not like spreading my attention thin across multiple tickers. I do not recommend buying TradeIdeas, it does have lots of bugs.
  7. "What did you do/How did you get started?" Was a data analyst, was good at research and applied it to trading. My incentive was, "I could have made more money trading rather than sitting in 2+ hours of roundtrip traffic and 9 hours in an office. The data is there. Everybody sees the same charts all over the world. There are ways to make this possible"
  8. "What is your % return?" (Not a fun question since a trading account is not an index or investment account. Intraday traders do not measure performance in %) I trade to make money AND pay myself, so my equity curve will look like a small loss or small gain after I pay myself. % return? I measure my account's performance in Sharpe Ratio and Risk Units. My Sharpe Ratio is ~1.85. While I yield roughly .8 - 1 R per trading day. Some weeks I make 10R. Some weeks I lose 2R. Yeah one week I might make $2,500. But the next week I might lose $300. The following week my strategy will yield $0 and the last week I might make $1,000. Some weeks suck. Some weeks are great. But overall. Just shy of 1R per trading day. Some days I'm super busy taking trade after trade. Some days I'll shut it down after 5 minutes without even filling out an order ticket. Some days I won't even see the open because there is no edge for me.. Keywords... "For me".
  9. "Is enough to start trading?" Depends on where you live. Are you restricted to PDT? If not then how much are you obligated to expenses? I live in Texas. Things are cheap here. If you live in NYC or The Bay Area your expenses will be astronomical compared to mine. A $30,000 account is totally doable for a single Texan with low monthly expenses. Now if you're in California or New York? I'm sure you'll fall below 25k if you have 1 bad month. Also depends on if you have other sources of income or a full/part time job. I encourage every trader and aspiring trader to have multiple sources of income, don't rely solely on trading. Not just for the sake of mitigating pressure but also for sanity. If you have a family to provide for, I don't know what that's like, you never know when Little Johnny is going to randomly pick up Trombone lessons for a school program/play while little Suzie needs transmission work in her car because a simple solenoid went out. $1,700 later.
  10. "Why do you need so many monitors?" I use 3 for trading. The 4th is for music. The other 2 are useless while trading. That's for trading though. When I made the decision to go full time, I knew I was about to go off the chain with research. And sifting between spreadsheets, a platform to see multiple timeframes for a pattern to backtest. My attention span is short, I'll lose my train of thought before I open the other tab to input data. But the main reason was for research. It's such a time saver and is a headache repellant when doing research while everything is laid out in front of you. Now that I have a system. I'll most likely be treating myself to 2 ultrawides for Christmas.
As always, thank you to everybody who takes time out to message me and letting me know some people read these and show appreciation. I would say, "Good luck" but there is no luck in trading. Just statistics. Remember that!
In conclusion: Yes. Full time trading is possible, depending where you live/monthly expenses and obligations. You're more likely to become a profitable trader than a professional athlete. There is a level of uncertainty each day, perhaps each week, doubtful each month, and definitely not each year. If I ever want a raise, I just consult my business plan and financials, then decide if I can handle it mentally. If you have medical issues, get a part time job for the benefits. If you're healthy, just be careful.

All the best!
-CJT2013
submitted by CJT2013 to Daytrading [link] [comments]

Legalized gambling is a bad idea and overall bad for the community

I want to make clear I am not opposed to gambling on moral grounds. If a person wants to gamble for recreation and/or social reasons and they can afford to lose the money that is perfectly fine in my book. Legal casinos however, especially large casino-resort areas, are overall bad for the community. They’re a magnet for scofflaws, organized crime, drug/human trafficking, and con artists alike. They cost hundreds of millions of dollars to build, often including subsidies and sweetheart tax deals from state and local government. The casinos may take decades to pay back the government, if they ever do at all, with management using shady tax loopholes and outright theft to hide their income. Jobs the casinos provide are usually low-paying and have poor or non-existent benefits. Their construction often involves razing poor neighborhoods and taking space that could be used for low-income housing or other services. Casinos like to pretend to market to the glitzy and glamorous elite, but (similar to the lottery) gambling most often amounts to a tax on the poor and under-educated who would not be eligible for income/property taxes otherwise. The part of the casino income that does not go into the pockets of the aforementioned criminals, anyway.
submitted by Inner_Inspection6408 to unpopularopinion [link] [comments]

How I discovered the KKC - in JAIL. Lol. Also do you think corners and spades are the same game?

Warning this is a long tale of many prisoners, starting with me, getting hooked on KKC while serving time. Also a tale of friendship and running a gambling empire behind bars as well as my theory that the games corners and spades are one in the same.
So I have a history with drugs and it got me on probation which ended me in jail several times bc I didnt quit. The legal system isn't great at getting ppl off drugs but it's super good at putting us nonviolent offenders in jail where private jails can make money from the taxpayers for keeping us locked up. I've completed my probation now and had my record expunged so it's all behind me now but here's the story of how I found the Kingkiller Chronicle.
So I was in jail and I had a super whiney older guy as a cellmate. He seriously wouldn't stop whining and crying about having to be in jail for 2 more weeks. I knew I would be there at least 6 months and I thought I was going to prison for a couple years after that since this was my 4th probation violation. Luckily the judge liked me and let me off super easy. Well my whiney cell mate had 3 books sent in. I didnt have anyone to send me books, write, visit or put money on my books. It sucked. I tried telling my cellmate jails not so bad, I'd been a bunch. It's mostly like a really boring camp with awful food. He was scared of the other inmates. I told him I'd protect him lol. Even tho I was new there were a couple of people i knew from other places and they'd introduced me to all the cool people and I'd made friends with the important ppl to make friends with. I did my very best to keep my short timer cellmate calm while listening to him talk about how he cant do 2 weeks while i had years hanging over me.
Then one day my cellmate does something extremely dumb. He went to the guard and said he couldnt take it anymore. That he was losing it. I'd warned him about this. Told him how they wouldn't take him somewhere nice and comfortable and hold his hand and make him some relaxing warm tea. The damage was done though and so they got him and took him to the mental health pod. The kind of place with such nice amenities as non stop 24 hour screaming, throwing and smearing feces as well as the unpredictable violently insane. Oh well. I warned him.
When he left he left his books though. Score. 2 of these books were junk but hmm what's this? The Name of The Wind. This looks cool. I'll give it a try. I was hooked. On free time when everyone's allowed out of their cells I asked some of the guys about it and no one had heard of it except a guy we will call H. H was a big guy and quite feared. I liked him and would sometimes talk to him about game of thrones, wheel of time, red rising and other nerdy stuff. The vast majority of ppl in our unit were terrified of H tho. He was big but it was more his attitude. I once saw him get into an argument with a member of the bloods. H challenged him to fight and walked over to a place where the guard and cameras couldnt see. The gang member was scared and said something about having to "talk to his people." H without missing a beat told him "bring your people!" He was ready to fight them all. There were like 4 or 5 bloods in that unit and H would've wrecked them. Aside from being bigger than any 2 of them combined you could just tell he was the last guy in there to mess with. He was like a modern day viking berserker. The bloods sent 1 of their ppl to go apologize to him. Was hilarious. Another reason everyone feared him was bc when he was in prison 3 men with knifes came into his cell to rob him of his commissary. He was stabbed multiple times but gouged one mans eye out and literally beat another to death by getting him down and punching his throat multiple times. He also didnt lose his commissary. H wouldn't talk about this until I'd known him for months. I originally heard the story from another guy who had been at that prison. When we were finally close enough for me to ask he told me the whole story, every detail, with a far off glassy look in his eyes and he showed me where they'd stabbed him up.
Anyway, he had read NOTW and WMF both and said they were incredible. Since we had discussed books a bunch I knew we had the same taste in them. I read NOTW on lockdowns and played a card game called spades on free time when we were allowed out of our cells. Spades is very serious business in jail and prison. Surprisingly H barely knew how to play and he was very bad. I however was as good as anyone in there. I was definitely a candidate for best player, if not best then top 3 for sure. I started teaching H to play well and training him to be my cards partner. Then something very sad happened. I finished the Name of the Wind.
The next free time I brought out TNOTW and gave it to H bc he wanted to reread it. I told him how empty my life had become since finishing it. He said "hold on" and went to his cell and came back with a brand new copy of Wise Mans Fear!! Even though he had read it he was such a bro he had his ppl send him a copy bc they'd send him as many books as he requested. I was elated. Those 2 books made my time so much better when I read them. I'd read straight from lockdown at 10 30pm until breakfast at 3 30 am then go to sleep after breakfast.
By this point H was a very good spades partner and wed taken to calling it "corners" like in the books. I think spades may have been the inspiration for corners bc they seemed very similar. After H finished Name of the Wind he asked if another fantasy book nerd could read it. I was happy to let them. From there the book traveled all around the unit with everyone loving it. Hardened criminals talking about Kvothe or how much they hate Denna. I once heard a member of the Mexican mafia explaining to his homeboys how badass Bast is and quoting what he told Chronicler. The "I'll make a game out of you" threat. It was crazy. If you asked around what the best book in the unit was the answer youd get was NOTW and WMF.
I finished WMF and it started making its travels around the dorm also. H had ordered slow regard for silent things but I didnt like it as much. Still glad I read it. H also started ordering this series called the Gray Man which i really liked but i had several of the gambling inmates come to me with an offer. They wanted me to be in charge of all the gambling for the unit. Basically I'd hand out poker chips and keep up with how much each person had lost or won. I'd make sure losers paid and winners got paid. Everyone recommends staying away from stuff like this bc if you get caught you go to the hole (the 3 before me were caught), ppl could lose a lot and then say they weren't going to pay so youd either have to fight them or look weak and once you look weak in there it's over for you and also you become the person with the most commissary items of anyone in the unit so you can pay the winners which makes you the very best person to rob, you are basically a 1 man casino after all. The benefit is every hand of poker played I earned 2 poker chips. 10 poker chips was worth a pack of ramen noodles/65 cents. These guys played poker for 8 hours a day 7 days a week. I made $25 to $40 worth of food every day 2 poker chips at a time.
I had no reason to hoard this stuff since i only had 5 weeks left before release when i got put in charge of poker. I also was slick with it. I was good friends with the 2 biggest meanest dudes in there and so if anyone acted like they wouldn't pay their debt I'd say "that's fine, I'll cover your debt out of my pocket and you'll just owe me but I'm going to send you to collections" then I'd point out H and the other huge guy "and if they have to go in your cell, beat your ass and take your shit they're taking everything. Not just what you lost at poker. Then they're probably going to keep doing it every week bc you cant stop them and you tried to fuck over their good friend (me)" everyone paid after that warning.
One day I even overheard the crips talking about "robbing the poker game" aka robbing me. This was laughable. By this time H and I were cellmates. There were only 3 crips in the unit and as H was fond of saying "none of them weigh more than 90lbs soaking wet that's why they joined gangs". I told them any time they want to run into me and Hs cell they were welcome. Just lmk I'll leave the door open. They later came and apologized and said they were just talking shit. Running the poker game was stressful but worth it. Myself, H and a few other ppl who looked out for me when I had nothing lived like kings with what I earned off the table. We feasted everyday and had unlimited coffee. I also helped out other ppl who didnt get any store bc they feed you dinner at 3 30pm and you dont eat again til 3 30 am so if you cant buy food you starve all evening and most of the night. They fed us very little and the food was only edible if you had to eat it to live.
I never got caught running gambling. A long time ago I learned the Masonic code that freemasons used to use bc I was a really weird kid (it's super easy) so I just kept my records in that. Not a single person refused to pay their debt to me (and risk collections lol) and I made sure winners were paid out at the start of each day. And I knew which items each player liked the most and made sure they got them. Previous ppl in my position kept all the best items and paid out BS. There was a fight once when one guy got paid with 2 bottles of water. I didnt accept bottled water and envelopes and dumb stuff like that lol. By the time I left 75% of the unit had read the kkc. None of us knew book 3 wasnt out yet so you often heard ppl saying they were going to get it as soon as they got out. Alas I said this myself. The rumor was that it was only out on hardback and we weren't allowed to get hardbacks.
Well that's my wacky story of how I got introduced to the KKC and it lead to me becoming great friends with the guy even the guards were scared of. Hes in prison now but I write him every couple of months. He was such an awesome dude bc he would say whatever he thought like "oh you're in that gang? I think they're all a bunch of pussies" and "oh you're friends with so and so? Yea I know him I beat his ass and took his dope. Knocked him out cold. Hope that's not your homeboy". I later found out he just didnt like most people bc he thought they were fake and scared to be themselves and always obsessed with appearing tough. He said my immediate willingness to nerd out about fantasy books showed I had no problem just being me and thats why he warmed up to me and not many others. I was the same book loving nerd in jail as out lol. He gets out in January. I intend to hang out with him. I still haven't broke it to him about book 3 lol.
Also let me clear up that with my history and all my trips behind bars I can definitely defend myself though I'm an average sized guy. I've never backed down from a fight in jail and always refused to show weakness but having H as my best friend definitely made life easier on me bc to fight me they would've had to have fought him also. He would tell ppl that he and I were brothers and it was us against the world. Kinda a joke since all gang members call other members their brothers. Also gang members have these intricate dumb secret handshakes so we made our own which was just doing a fist bump but as soon as our fists hit we would both put our thumbs up. It was dumb and really must've pissed off the gang members. Looking back I'm lucky he didnt get out before me or they wouldve beat the shit out of me hahaha unlike him I cant take on 3 or 4 ppl lol or 2.
It was really cool seeing groups of tattood up hardened criminals sitting around talking about how they'd break out of the jail if they could use sympathy and all kinds of crazy kkc convos hahaha.
If anyone knows how to play spades how close to the game of corners do you think it is?
Sorry if yall read this and considered it a horrible loss of time you'll never get back. Just wanted to share how I found these great books.
TLDR Went to jail and was given the Name of the Wind and loved it and it lead me to making friends that made my stay in jail much better and 75% of the guys I was locked up with read and loved KKC. Also how I ran an illegal casino in jail. Also I think corners and spades are the same games.
submitted by Powerctx to KingkillerChronicle [link] [comments]

An Island Nation with Legalized Drugs

Hello all,
I am here with my plan for my subreddit Reddit Nation
If you are interested in joining a (hopefully) newly formed island nation then this is the place to be.
I have prepared a plan that explains how we will go about doing such a task. More detailed elaborations for each component of the plan will be given at request.
Obviously the first question is where we would have our island. I have identified places of interest. One place of interest is the Nation of Belize. Belize is a small nation with a low GDP of 2 Billion and they are selling off most of their island. Islands with 50-100 acres can be acquired for around 500,000; give or take 50,000. From the people (Government Officials) I have contacted, they are perfectly okay with this plan.
Now here is a 5 step proposal of how this will come to fruition (I will expand on how we will finance this)
  1. Acquire the island
  2. Set up the initial infrastructure
    1. Form of Government that I propose is a constitutional monarchy
      1. Country will be run as a democracy (two chamber form of parliament)
      2. Noble titles such as Duke, Earl, Count, Lord, Baron etc will be sold off to help initially finance the island.
    2. Establishment of the Government Building
      1. For now this is where the government will convene until more infrastructure is added and the island is improved.
      2. People will be made citizens at this location
    3. Establishment of Civil Services
      1. Waste collection, Police, Social Services
    4. Establishment of a Port
      1. This will allow supplies to enter the island.
      2. This will allow for the island to participate with the rest of the world economically(I will expand on this later).
      3. The port will function as the entrance point and exit until the runway can be constructed.
    5. Establishment of Resident Housing
      1. This temporary housing will be until the island can be developed and more permanent buildings can be put up.
      2. Resident Housing and the Government building will be set up near the port until island development is completed
    6. Set up a massive solar powered crypto mining operation to help finance further development of the island
      1. A partnership with big mining companies can be brokered to have this set up
  3. Make the Island a desirable location
    1. Set up the island as a luxury city
      1. Free housing for citizens
      2. Free healthcare for citizens
      3. Free schooling and university for citizens
    2. Build resorts and legalize gambling on the island
      1. The revenue generated from such activities will help finance further development of the island
      2. With the revenue generated from this, the island will be able to provide for the residents a luxury city
      3. The gambling industry investments will help to finance the island as well
    3. Make the island a banking haven
      1. Set up a bank on the island
      2. No KYC laws will be enforced on the island
      3. This will attract forgien investment into the island
    4. Allow cryptocurrency companies to conduct business without oversight and for miners to set up large scale operations using solar powered energy
    5. No income tax,sales tax, capital gains tax or corporate on the island
      1. Commercial businesses such as casinos, resorts, and banks will just pay slightly inflated property taxes
      2. This will help attract a lot more forgien investment as well
      3. Will attract companies to set up offices here and thus bring jobs to the island.
  4. Expand on the island infrastructure
    1. Build an airport. The islands have enough space to accommodate runways for planes even up to jumbo jets
    2. Build more free luxury housing for residents
    3. Establish schools and universities
    4. Establish libraries
    5. Establish Museums
    6. Establish a healthcare system
  5. Enjoy the luxury haven of an Island that we have built
Now for the question of how much this island will cost and how we will get the funding
According to my calculations (you can look at them below) it will cost us $2,600,000
Now in regards to how we will raise that sum
If you have made it this far, please join the subreddit for this plan
More information to come soon, thank you.
submitted by OGKebabEater to lean [link] [comments]

LCA and OPES...primed to run again?

LCA's online gaming in new Jersey has 69% YOY from October 2019 to October 2020. $28 MILLION in October 2020, nice! This is awesome, because thats they have focused their efforts on online gambling. Sports betting is not as big a revenue generator and as we know physical casinos have been hit hard because of the pandemic. I am bullish because I love YOY growth and I believe they are focused on the right sector within the gambling/gaming industries. https://www.nj.gov/oag/ge/docs/Financials/PressRel2020/October2020.pdf
OPES apparently has approved the extension. As we know, they are planning to open over 30 stores in 2021. They are also hoping to reach 25 ghost kitchens by end of 2021. They recently named a former Burger King exec as their CEO and I expect him to bring a great deal of expertise, as well as contacts in the marketing/PR world as well as nice vendors with good pricing options (if need be). BurgerFi is a better burger option in terms of quality, which is in sync with people who are somewhat health conscious but still want a good burger or red meat. Also, they cater to vegetarians with their Beyond Burger. I also like the Air Force Services deal, the fact that they are international already (Kuwait and Puerto Rico according to the presentation), and the benefits behind ghost kitchens (i.e. very low start-up cost)
Check out their updated investors presentation here: https://www.sec.gov/Archives/edgadata/1723580/000121390020036538/ea129618ex99-2_opesacq.htm
submitted by tonoocala to SPACs [link] [comments]

Sharing my experience, looking for help & motivation

This is my first post (and a long one), but I wanted to share my experience. Sense online sports betting became legal in NJ I would place small bets on sporting events. $1 bets on a parlay, maybe $5 or $10 max on a single bet. I would bet a small amount every week. It was money I had in my account and I would never exceed that. This went on for years and then COVID hit. I was let go from my job after 9 years and collecting unemployment satisfied me until about July - right when the extra $600 benefit expired. As a husband with a wife and family I started feeling depressed that I was not providing my family with what I should be. One night I discovered an online casino game, Dream Catcher Wheel, and started playing in July. I went from wagering $0.50 to $1; and when I was down occasionally ramped up to $5 or $10 dollars. Then it started.
As losses accumulated I started wagering more and more. I opened credit cards, took cash advances, over drafted my checking account from July to October, racking up over $40K in debt. I started wagering $50, $100 then $200. Sometimes I would be up $15K, loose it all, wake up the next day and repeat. As a professional in the finance world, it was like what I lost wasn't a reality and the next day was a fresh start. I know I was smarter than this. I would still make sports bets during the period, but I chased the instant reward. I feel like a transformed into another person on the inside, I didn't let this affect my on the outside to others. I was still the same husband and father that I had always been and just wanted the easy way to bring in money for my family. It only takes minutes to gamble thousands. I did it to pay off existing debt, treat the family to vacations, gifts, etc. I did not gamble to be able to my myself something new. I just lost myself in the world of online gambling.
In October I came clean to my wife and our families. I have their support (although I'm sure I will always be labeled with what I did) and would probably not be where I am now a few months later without them. Coming clean was the hardest part. I was ready to leave my house/family/kids because I felt they deserved someone better than me, someone who wouldn't gamble over $40K away that could have been used towards their weddings, college tuition, cars, birthday parties, etc. My kids are under 2 1/2 so they don't know what is going on, but obviously I feel like a failed as a father and husband.
Other than the first week of coming clean I still have been the same husband and father - cooking for the family, cleaning, playing with the kids etc. but now its the mental demons I face with anxiety. I just completed an 8 week therapy program focused around anxiety, panic, depression - including talk of the gambling addiction, which led me to realize I have had anxiety issues for over 20 years, but I was able to hide it.
I know this situation could have been a lot worse than $40K and its just debt I have to repay. I am not at risk to loose my house or family. I have my health and my families health. I will find another job that I love. Although these are positive factors, they negative factors of what I did come to the front of my mind. I can't forgive myself or not want to punish myself or this bad choice that I made. Its important to note that I no longer have a gambling urge, have not gambled sense mid October, however I came here to post this looking for your experiences, comments, suggestions. How can I move forward from this and not constantly think about what I did. I am getting professional help, but hearing from anyone with experience with gambling addictions could end up helping just as much as a professional therapist.
Thank you for your time to read this!
submitted by JC_010 to problemgambling [link] [comments]

An Island Nation with Legalized Drugs

Hello all,
I am here with my plan for my subreddit Reddit Nation
If you are interested in joining a (hopefully) newly formed island nation then this is the place to be.
I have prepared a plan that explains how we will go about doing such a task. More detailed elaborations for each component of the plan will be given at request.
Obviously the first question is where we would have our island. I have identified places of interest. One place of interest is the Nation of Belize. Belize is a small nation with a low GDP of 2 Billion and they are selling off most of their island. Islands with 50-100 acres can be acquired for around 500,000; give or take 50,000. From the people (Government Officials) I have contacted, they are perfectly okay with this plan.
Now here is a 5 step proposal of how this will come to fruition (I will expand on how we will finance this)
  1. Acquire the island
  2. Set up the initial infrastructure
    1. Form of Government that I propose is a constitutional monarchy
      1. Country will be run as a democracy (two chamber form of parliament)
      2. Noble titles such as Duke, Earl, Count, Lord, Baron etc will be sold off to help initially finance the island.
    2. Establishment of the Government Building
      1. For now this is where the government will convene until more infrastructure is added and the island is improved.
      2. People will be made citizens at this location
    3. Establishment of Civil Services
      1. Waste collection, Police, Social Services
    4. Establishment of a Port
      1. This will allow supplies to enter the island.
      2. This will allow for the island to participate with the rest of the world economically(I will expand on this later).
      3. The port will function as the entrance point and exit until the runway can be constructed.
    5. Establishment of Resident Housing
      1. This temporary housing will be until the island can be developed and more permanent buildings can be put up.
      2. Resident Housing and the Government building will be set up near the port until island development is completed
    6. Set up a massive solar powered crypto mining operation to help finance further development of the island
      1. A partnership with big mining companies can be brokered to have this set up
  3. Make the Island a desirable location
    1. Set up the island as a luxury city
      1. Free housing for citizens
      2. Free healthcare for citizens
      3. Free schooling and university for citizens
    2. Build resorts and legalize gambling on the island
      1. The revenue generated from such activities will help finance further development of the island
      2. With the revenue generated from this, the island will be able to provide for the residents a luxury city
      3. The gambling industry investments will help to finance the island as well
    3. Make the island a banking haven
      1. Set up a bank on the island
      2. No KYC laws will be enforced on the island
      3. This will attract forgien investment into the island
    4. Allow cryptocurrency companies to conduct business without oversight and for miners to set up large scale operations using solar powered energy
    5. No income tax,sales tax, capital gains tax or corporate on the island
      1. Commercial businesses such as casinos, resorts, and banks will just pay slightly inflated property taxes
      2. This will help attract a lot more forgien investment as well
      3. Will attract companies to set up offices here and thus bring jobs to the island.
  4. Expand on the island infrastructure
    1. Build an airport. The islands have enough space to accommodate runways for planes even up to jumbo jets
    2. Build more free luxury housing for residents
    3. Establish schools and universities
    4. Establish libraries
    5. Establish Museums
    6. Establish a healthcare system
  5. Enjoy the luxury haven of an Island that we have built
Now for the question of how much this island will cost and how we will get the funding
According to my calculations (you can look at them below) it will cost us $2,600,000
Now in regards to how we will raise that sum
If you have made it this far, please join the subreddit for this plan
More information to come soon, thank you.
submitted by OGKebabEater to 5MeODMT [link] [comments]

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Casino games you have the best chance at winning - YouTube

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