Tuesday, May 19, 1998

Gambling As An Investment?
By Mma5cents ([email protected])

I recently took a visit to Las Vegas. Yep, roll them snake eyes, deal those cards.

When I got to the huge MGM Grand Hotel/Casino to check in, the power had just gone out. Completely out. The back-up generators weren't working either. The gambling hall was almost dark. The slot machines were quiet. The gambling tables were closed. I met a fellow who had worked there 25 years and he had never seen the place so dark and quiet. Hotel registration and the restaurants were closed. Not a plug nickel was going into that humongous complex.

The weirdest sight was lots of people were napping on the slot machines. I wondered why they didn't just take their bucket of quarters or silver dollars across the street. After all, none of the neighboring casinos had been affected by the power outage. Their reasoning? "I've got an investment in this machine." Wow. Didn't any of these people read the Motley Fool? How dare they call the money they fed the hungry slot machine an investment!

Some days, when I lose money in the stock market either because a particular stock of mine plunges or the whole portfolio drifts down, I envy those casino "investors" because at least they had the "fun" of gambling. And probably a free drink or two or maybe even a free hotel room. But then I remember the long-term odds of gambling (I lose) and the long-term odds of investing (I win) and I get through the day.

Fool on!

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