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Commercial Rant

December 4th, 2005 at 09:41 pm

I'm watching TV.

I just heard an advertisement "do you want to make some extra money?" "Do you want to do something different with your evenings?" "Do you want to have fun and make new friends?"

Sounds like a great job, right?

It's an ad for a bingo parlor. They start with making extra money. Very, very, very few people end up making extra money at bingo. Most people are happy when they break even. Bingo parlors are just like casinos, they make money on every transaction. If they sell 50 cards, the pot will generally be less than $45. That's on average. Bingo parlors have expenses they have to meet - payroll, rent, supplies, etc. They will make up some of that in concessions and marker sales, but not enough.

If you enjoy gambling (and I'll admit, I find roulette fun) then it's an entertainment expense, which varies. When I play roulette (which has been over 10 years ago) I decide on my limit - usually $10. I play until that $10 is gone or for 3 hours, if after 3 hours, I'm up or have money left, good for me. But the next day, I stay with that $10, not more because I won the night before. It's entertainment money. I also take them up on any freebies they want to offer me - free drinks? Great, bring me a dr pepper (I'll drink every 3rd offered drink).

Now, do some people win at gambling? Of course. But most will end up losing all that they win.

1 Responses to “Commercial Rant”

  1. Anonymous Says:

    Gambling, for the wise, is tax on your knowledge of probability and long-term statistics. One person might win big, but you never hear about the 100,000 people who get their pockets cleaned out.

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