Dear
Mark,
Why is it that when I bet real cash instead of swapping
for chips, I’m frowned on by the casino? Gerry
G.
A casino goal, Gerry,
is to create a fantasyland experience for its patrons.
One wily way is to devalue your money by having you
bet chips instead of legal tender. Think of the deceptive
nicknames chips have. A $5 chip is a “nickel”
and a $25 chip a “quarter.” Your best self-defense
is to continue to bet with your own greenback. This
way you’ll always realize its genuine value.
If you do turn your bankroll into chips, take a moment
and carefully think about the exchange.
You must always treat
chips as hard-earned cash—like the money you
save for your child’s college tuition, mortgage
payments or your retirement.
Dear Mark,
If there was one golden rule of gambling you would
give to first-time players, what would it be? Bob
H.
The same golden rule
that Peter Lynch, the legendary stock picker and
former fund manager of Fidelity Magellan, believes;
“Never invest money you can’t afford to
lose.” The same holds true in gambling. Never
gamble above your means or with money you can’t
afford to lose.
