Raising cash in a hurry #1: Head to the casino
Filed under: Credit, Debt, Extracurriculars
Update May 2009: The Las Vegas casinos, which are suffering a huge downturn in visitors, would happily welcome your attempt at our most desperate strategy to raise quick cash, gambling.
Please understand that this is our #1, most desperate way to make some quick cash, and only applies in this situation: you have some cash, but not enough, and MUST have more within a very short time or your life will fall into ruin. When you've exhausted every other possible avenue, only then does a reasonable man consider the casino.
Why is this our most desperate? Look at Las Vegas. Those beautiful building don't grow in place; they represent the house's advantage. Understanding this, what is you best play? If I were in this situation, what games would offer me the best shot at winning enough to save my butt?
Games I would avoid: slot machines, roulette, and other games that are 100% luck. The house advantage is considerable and unalterable. I would also avoid games in which I compete directly against other betters, such as poker. I'm not an experienced player, so the odds would be heavily against me.
I'd go with blackjack. A four-deck game gives the house only a .51% advantage, vs. 9-10% on the slot machines. I'd find a system to guide my decisions and bet strictly within those guidelines. This would give me as close to a 50% chance of winning as I'd be likely to find in a casino.
And, most importantly, I'd take this vow. Read it aloud with me. "I will quit the moment I have the money I need." I'd tattoo that on the back of my hand. If I'm down to our #1 way to raise cash in a hurry, I'm already playing long odds, and the rule of any casino is, if you play long enough, you'll lose. 100% guaranteed.




Reader Comments (Page 1 of 1)
6-17-2008 @ 10:23AM
Terry said...
I'm surprised they didn't mention Craps. That is the one game where the odds lay with the player rather than the house. And it's a helluva lot of fun, too! However, I would never recommend gambling in desperate times. That is how people develop gambling problems.
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6-17-2008 @ 10:31AM
steve said...
Never bet with money you need to live on. Never play the rent, the mortgage, the utilities, the car payment. But we all know that you are going to play slots, because you dont have the smarts for table games. So what to play? Play the highest denomination machine you can play without breaking into a sweat. 9-10% house edge only applies to low-cost machines, such as penny and nickel. Try the dollar or $5 machines for better action. Got more cash? Move up to the $10 or $25 machines. Again, the action is better and the payouts are more substantial. But remember: any jackpot of $1200 or higher is subject to taxes. The Feds get 28% and the state cut varies; ask for the taxes to be taken out before you get paid, so you dont get a nastygram next April. But the author is right: once you win, find the exit fast! Mission accomplished!
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6-17-2008 @ 12:32PM
gus gus said...
Omg. I'm all for free speech but to even suggest gambling is outright dangerous. This is from someone who should be very rich right now, PLEASE don't ever, ever gamble with money that you need to make money that you don't have. It never works. If 1000 people go into a casino desperate for money, it'll take a miracle if 1 or 2 come out with the money that they need. Pawn your tv or computer, or even beg from a friend, but going into a casino only leads to one thing, more debt and depression.
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6-17-2008 @ 12:51PM
JB said...
More debt and depression--and furthering the urge to gamble--is what Casinos are all about. The "American Way" has always been to take advantage of the unwary, create addicts (note the two WORST legal substances, Tobacco and Alcohol NEVER go away. Just think of all that corn they could be planting in North and South Carolina instead, now that corn brings in big bucks. The families behind those industries received heavy duty promises from our own nation's leaders hundreds of years ago and no amount of advertising AGAINST them does any good when that is all that's available in poor neighborhoods. What's next? Casinos adjoining the liquor stores on skid row?
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6-17-2008 @ 1:22PM
Davgert said...
Casinos are built on losers-everyone knows that. If someone chooses to gamble it is their choice not the moralists who have nothing better to do.
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6-17-2008 @ 2:27PM
Lyn said...
OMG! Going to a casino? Yikes. When you don't need the money, you usually win a few bonuses even on the dollar slots. If you absolutely have to go to a casino, play the red, white and blue dollar or higher slots. They usually sit in the middle of a casino area, like 6 of them that form a circle. Chances are better here, because they bet that shy people won't approach something where every one can see them, but take that trip sit down and put in your dollars. They put these in plain site in the open so that people coming through the doors can here the jackpot go off and the timid will play elsewhere, and throw their money away. Out in the open is the lure, and if brave enough to have a bunch of people (which I hate) stand behind you and watch, trust me the jackpot music will ring!! However, when you win what you need? LEAVE. They are watching from upstairs and if you keep adding up the money, they will change the pattern of the slot machine and there goes your money, even though you have enough, from winning already. SO STOP when you have what you need or close to it. To keep on, gives the guys upstairs a heads up to reprogram that slot machine. Trust me on that one!!! I do well on those, but I have also seen it go away, even when I have over a thousand added up, YOU HAVE TO LEAVE!! Or they will eat up your winnings! It is addictive and they know it. JUST WALK AWAY. That ticks them off and what happens next, when you play with a card with your name and address on it, esp Harrah's, they start sending you mail with FOUR FREE NIGHTS. Sometimes even airfaire. THEY DO THIS TO GET BACK THE MONEY YOU ALREADY WON PRIOR AND WHO WOULD WANT 4 NIGHTS AT A CASINO TO THROW IT ALL THE WAY. They DO NOT MIND, giving you a free room .......it means nada to them, but the do it only to get back what you took from them.
Bottom Dwellers All!!!
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6-17-2008 @ 5:46PM
brad said...
i guess im really naive! i thought the gambling laws were very strict as far as slot machines.... they really reprogram them? okay i believe it, the tables are good, like blackjack has been to me, and yeah the comps are great! take advantage of them, however back to the story, dont play your paycheck! always go planning on losing a certain amount if you win great! it happens!
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6-18-2008 @ 1:00AM
Shawn said...
Believe me, Theres been a few times i was short on money and i went straight to the casino, and walked out about 15 or 20 min. later with about $1500, All i play is Video Poker, 90% of people going to gamble at a casino will win or get ahead, but about 85% will Gamble it all back. so My trick is even if im only there 5 Minutes, I LEAVE!!!!!!!!!!!!!!!!!!!!
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6-18-2008 @ 2:32AM
Bobbi said...
THE ONLY PEOPLE WHO WIN IN CASINOS ARE PEOPLE WHO DON'T NEED THE MONEY, THE INCREDIBLY GOD TOUCHED LUCKY OR THE OWNERS OF CASINOS. I have never in my life won anything there when I ever needed it most! NEVER! Please don't tell people to go gambling
when they can't afford to lose..I understand its a desperate move but I've done it my whole life, because ONE TIME it worked and now it never does. everyone around you will win and you will lose. don't think you'll win because the odds they tell you are such and such but when your playing they seem like your trying to win megamillions and most people are. They go down with a few hundred and try to make 1,000 or two even more.
Im trying to save my home and i tried it out of desperation...going with 3,000 to make 35,000 what a joke! Not only did I lose but was never ahead once. Am I stupid? Of course I am! But I can't earn it , borrow it or sell enough items in time so yes I took a chance..but I would feel much better if I had not, I would have 3,000 in my pocket. Please DONT do it.
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6-20-2008 @ 7:40AM
Zompire67 said...
I have worked in a casino for over a year and the best advice I can give to those reading this article is don't expect to win. The odds are stacked heavily against the player, no matter what game they play. There is only a 16% chance that you'll actually leave the casino with more money than what you started with.
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6-21-2008 @ 11:13AM
Gary S. said...
Casino gambling as a money resource???! NEVER!! GAMBLING IS NOT THE WAY TO PAY THE BILLS! If you must try it, then set strict standards for yourself.
Example: Craps= go to table, bet pass line and free odds ONLY, set your winning limit, and stick to it. If your goal is to win $100 on a $1K stake, leave with the 10% gain. Not many ways to earn that kind of profit out in the real world. BEFORE you go to a real casino, practice, practice, practice, for free online on the many sites available. You will see that it is not as easy as is suggested and decide to keep your money and pay the electric bill instead. Read above posts and take all things into concideration before you set out and know that once you loose, the money is gone for good!
Gary S.
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6-21-2008 @ 2:17PM
Phillip said...
a fool and his money is soon parted
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6-23-2008 @ 1:48PM
Beavis said...
Raising cash in a hurry #26: agree to kill some people for a small fee.
Well, it isn't any more ridiculous than going to a casino.
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