Playing with the casinos money?

[MrJ]

Always a beauty of a question. Lets say I walk into the casino with $500, I play roulette. I get it up to $800 (total). I eventually leave with $600 (total). Did I lose money that day? Ken

[ThomasGrant]

Yes and No...
Typical question.
The main thing is, you walked out with a profit of $100
And that is all you should be concerned about.

Same could be said for money you have in a online casino.
Lets say you double your deposit. $60 to $120
And then take out what you deposited. $60
Leaving you with $60 in your account.

Who does the money belong to?
Normally you would say that it belongs to you.
But you would be wrong.

Because it is not yours until it is your hands.
In your bank account.
That is to say, until you withdraw the funds.
Then and only then is it yours.

Ohh, but I made $60 it is mine.
Is it in your hands?

No, it is in the casino account.
They have it. So it is theirs.
You may have made the money playing.
You may consider it belong to you.
But where does the money reside?

Hmmmm?

Something to ponder over.

[albalaha]

Everytime we enter a casino or play online, we win and come into profit but due to greed or lack of determination we lose our winnings plus our own money also. What I feel that one should leave the casino whenever he earns more than 1/3rd of his bankroll and in cases of straight loss of 1/3rd bankroll also one should think over leaving.

[MrJ]

On line is a different example because you are using the example of...IN YOUR HANDS. Those chips (at a real casino) are IN YOUR HANDS. At that point, they BELONG TO YOU. (of course you must go to the cashier). In my example, the person IS UP $300 ($800 total). If you leave with $600, some would say you lost $200, its a damn good question as usual, from me. lol  Ken

[MrJ]

@albalaha >> What do you think sir? Left with a profit or a loss for the day?  Ken

[albalaha]

Even in live casinos, you can see the piles of your chips and easily understand whether you are winning or not, if doubt, count your chips. I think losing the winnings is more painful than not winning at all. If someone just wants to stick to roulette table for leisure, he is bound to lose at last.
Leave casino if won already.

[Illuzionn]

Always a beauty of a question. Lets say I walk into the casino with $500, I play roulette. I get it up to $800 (total). I eventually leave with $600 (total). Did I lose money that day? Ken

Yes, you did loose $500 of your own. You gave it to the casino cashier, right ? So you lose it.
Fortunately, you were in a lucky day and won $600 before leaving, but that doesn't clear the fact you gave $500 to "enter" the game. You could have won $1500 or nothing, this wouldn't have changed, so yeah, you lose $500.

[ThomasGrant]

Yes, you did lose $500 of your own. You gave it to the casino cashier, right ? So you lose it.
Fortunately, you were in a lucky day and won $600 before leaving, but that doesn't clear the fact you gave $500 to "enter" the game. You could have won $1500 or nothing, this wouldn't have changed, so yeah, you lose $500.

Yes, but that was not the question.
The question is.
Is it the casinos money or yours?
Is it the casinos money you lost.
Or is it yours?

Technically it is yours.

But have a look at it this way.

Lets assume you are winning.
Your in front. You have made a nice profit.
You have all those chips in front of you.
Or next to you.

Now, note. All those chips belong to the casino.
You have to cash them in. In order to get paid.

Now the casino has paid out x dollars in chips.
So that is the casinos money that they give to you.
As long as the chips stay on the table.
And stays in your hand. It still remains the casinos money.

IT IS NOT YOUR MONEY.
UNTIL YOU CASH THE CHIPS into CASH does it become your money.

Don't understand why people just don't get that.

[albalaha]

Offcourse Thomas,
            I meant the same. You should immediately cash out your winning

AND JUMP OUT OF THE CASINO LIKE THIS

[Twisteruk]

There is no right or wrong answer for this, imo

If I was in a good mood I wud think woohoo +100 bucks

If I was in a bad mood I wud think damn lost 200 bucks


I guess its all down to moods 

[esoito]

I've just changed my tablets to the blue ones and the question still seems crazy to me.

Until you cash in, and walk out, the money is not 'yours'.

The $100 profit that is finally 'yours' (because it's now safely in your pocket)  surely negates the question: "Did I lose money that day?"

Or have I lost it altogether? (Mentally, that is!    LoL)

[ThomasGrant]

Until you cash in, and walk out, the money is not 'yours'.

At last...

Someone that see comprehends what I have been trying to say.

[commonsense1968]

totoally agree thomas

[MrJ]

Not trying to argue but some of you guys want to keep YOURSELF off the hook. If your buy in is for $500, lets say you are using nickel chips for example. Myself, I keep everything in 20 chip stacks. You would know if you were up around $275-$300. Just because those are CHIPS, does not mean they are not yours.

Ok fine, you cant go grocery shopping with casino chips BUT you do have free will to get off the chair....walk over to the cashier window.....cash out.....leave casino. Are you saying that casino staff has a GUN to your head, forcing you to continue playing? Ken

[MrJ]

I was playing today and this subject came up but with a twist....I LOVE IT. Using the same logic, lets say you walk into the casino with $500. You play for a while and are down to $300. You leave with $400. Are you up $100?     I love this s**t.  Ken