Does it make sense to spend a small amount of money on gambling? I can basically afford to spend $600-700 a month on gambling, but the question is whether I can multiply it. I almost immediately discarded the option of a casino and am thinking about betting on sports. I do not know whether it is a decent option, but I want to try. What do you think, is it stupid or not?
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Yes please try and let us know the results
I like to gamble to maximize my returns. For example, this casino with a bar gives a $2 discount on drinks if you play these like $.50 ticket things. If you just buy one you get $2 off a shot of liquor giving you a $1.50 value if you are drinking anyways.
Similarly, playing higher value games in blackjack and being good at the game can make you money, and even if you’re only playing perfectly you can make a gain through the enjoyment you gain.
I like to wear my fancy cloths and go to slightly shady casinos gambling the least amount possible.
If you don't have an edge, don't gamble. And if you have to ask if you have an edge, you don't. I'd expect someone posting on a finance forum to understand expected value, so this should be obvious.
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