Ex-Mayor of San Diego Gambles Away $1 Billion

[SKORPI0]

http://abcnews.go.com/GMA/video/mayor-san-diego-gambles-billion-18511810?tab=9482931&section=1206833
http://www.dailyfinance.com/2013/02...-dollars/?icid=maing-grid77Cdl1826pLid=270784

Maureen O'Connor is now virtually broke after gambling with her inherited fortune.

WTF!!!!!

 

[monovillage]

Amazing! Usually Democrats only throw away other peoples money.

 

[PokerGuy]

Amazing! Usually Democrats only throw away other peoples money.

You beat me to it. Normally they take away other peoples money to waste, at least she was good enough to throw away her own. What an idiot.

 

[waggy]

wow..that's insane.

 

[Wreckem]

How the fuck do you gamble away $1billion over ~10 years playing video poker?

Edit: She wagered more than $1 billion from 2000 to 2009, with a net loss of $13 million, according to her attorney.

 

[Screech]

How the fuck do you gamble away $1billion over ~10 years playing video poker?

this. 1 billion over ten years comes out to ~$274,000 lost per day assuming you gamble 365 days a year for 10 years. holy shit.

edit: ok, reading the edit above, makes more sense.

edit 2: now i'm a bit confused on if she actually lost the 1 billion, if so, thats epic fail.

 

[Oldgamer]

http://abcnews.go.com/GMA/video/mayor-san-diego-gambles-billion-18511810?tab=9482931&section=1206833
http://www.dailyfinance.com/2013/02...-dollars/?icid=maing-grid77Cdl1826pLid=270784



WTF!!!!!

Yea, this is a good tale tale sign of how our elected officials handle money issues, scary as hell, isn't it?

 

[AyashiKaibutsu]

Yea, this is a good tale tale sign of how our elected officials handle money issues, scary as hell, isn't it?

Pretty sure this is an outlier case, and not about to be epidemic.

 

[Zebo]

this. 1 billion over ten years comes out to ~$274,000 lost per day assuming you gamble 365 days a year for 10 years. holy shit.

.

Largest machine I've seen is $500 so each "pull" is $1500.

$274,000/$1500 = 183 pulls. That's only an hour tops. An hour of 'entertainment' for $274,000 lolz crazy...

 

[DominionSeraph]

What an idiot.

She kept $13 million in circulation for 10 years, cycling through at a rate of $100 million a year. To do that, her deviation from mathematically perfect play would have to be practically zero.
10 years of high roller comps and the high of betting $275k per day? There's worse ways to blow through $13 million.

edit 2: now i'm a bit confused on if she actually lost the 1 billion

No, she lost $13 million.
Basically, she bet $275,000 and made back $271,500 of it. Every day. For 10 years.

 

[AyashiKaibutsu]

Largest machine I've seen is $500 so each "pull" is $1500.

$274,000/$1500 = 183 pulls. That's only an hour tops. An hour of 'entertainment' for $274,000 lolz crazy...

But if she won just think of the return on investment! She could retire right there >.> <.<

 

[Theb]

Gambling with any kind of frequency makes no sense to me. The more you gamble the more the laws of probability are going to assert themselves.

 

[Subyman]

Um, maybe read the article?

She wagered more than $1 billion from 2000 to 2009, with a net loss of $13 million, according to her attorney.

 

[hal2kilo]

Gambling with any kind of frequency makes no sense to me. The more you gamble the more the laws of probability are going to assert themselves.

The house grinds you down.

 

[bozack]

she deserves to lose it.

 

[LumbergTech]

Gambling with any kind of frequency makes no sense to me. The more you gamble the more the laws of probability are going to assert themselves.

It never makes sense. That is crystal clear to me after working in the casino game industry for 2 years.

 

[Pr0d1gy]

Gambling with any kind of frequency makes no sense to me. The more you gamble the more the laws of probability are going to assert themselves.

Like with many other things, if done in moderation it can be an enjoyable and harmless way to pass some time. The problem is the all or nothing Nazis that use the fear of the small minded to control the rest of the masses.

 

[Ausm]

Amazing! Usually Democrats only throw away other peoples money.

Same with Republicans and the Wars they love....:whiste: