Charles Barkely Is a Horrible Gambler

Another day another professional athlete coming forward with a gambling problem. This time it's Charles Barkley who says he's lost about $10 million gambling. The number is less staggering when you compare it to Daly's allegations he's lost at least $50 million. However to lose $10 million dollars still makes it a problem.

He does admit he has a gambling problem. But he says it's not a problem because he gambles with what he can afford to lose. It's the first rule of gambling. If you can pay rent, pay bills, and feed your family and then have leftover money to gamble then that's fine. It becomes a problem when you become in debt to the casinos or have to sell the house, kid's toys and cars to pay off debts. But this is his money and he says he can do whatever he wants with it.

He knows he has a bad habit but he's not going to stop. He's just trying to learn to bet $1,000 instead of $20,000. Nice try Charles but it not going to work. Why? Because he gambles for the thrill of competition. If an average Joe who makes $30,000 a year bets $1 a hand it's not really going to affect him if he wins or loses. It's not thrilling to win a $1 here and there. Move that to $1,000 and there's going to be some screaming or cursing every single bet. So if Charles is as wealthy as we imagine, a $1,000 bet is not going to give him the "action" he's looking for. He's going to have to put a sizable bet to get the adrenaline flowing. But the amount just depends more on the person's expectations than their net worth.

People like this will always never win in the long run. Gambling is mostly about money management. Think about it like this. If Charles was up $100,000 in one night of gambling do you think he would stop? You and I might but not the compulsive and competitive gambler that he is. Especially not when he's betting $20,000 a hand. He's going to want more. So if he starts to lose and lose he's going to start betting bigger to hopefully get back to where he was. If luck is not on his side, he'll probably lose twice what he was up. The same can be said if he's losing all night. People "chase" their bets hoping to get back what they lost. However that strategy more often than not loses you more.

I know all that Charles is talking about. As a gambler, I understand the need for action and the thrill of trying to beat the casinos or bookie. It's just trying to control it all and wager smart. Good luck Chuck.

What do you think?

We'd love to hear your comments and/or opinions. If you submit them here, other visitors can read them, rate them and comment on them. An e-mail address is not required.

What Other Visitors Have Said

Click below to see contributions from other visitors to this page...

A real gambler knows how to walk awy Not rated yet
2006/05/04 at 5:30 pm A real gambler knows how to walk awy. I’ve spent many nights in casinos where I have walked away up $300, when I might have been …

Click here to write your own.

New! Facebook Comments

Leave a comment about this article in the box below and share it with your Facebook friends.

From Charles Barkely Is a Horrible Gambler to NBA Archives | Sports Blog | NFL Archives | College Football Archives | MLB Archives | NCAA Basketball Archives | Soccer Archives | Olympics Archives | Stupid Athletes Archives | Other Archives |

Home Page
About Us | Contact Us | Site Search | Advertise | Terms of Use |

+1 The Best Sports Blog

Hot Stores!

Ticket City
Hot Tickets!

Subscribe To Blog

[?] Subscribe To
This Site
Add to Google
Add to My Yahoo!
Add to My MSN
Add to Newsgator
Subscribe with Bloglines

Like This Page

Visit Our Social Pages

Become a Fan of on Facebook Find on Google+ Follow TheBestSportsBlog.vom on YouTube
Follow on Twitter  


We are always very interested in reader comments about the site -- especially ideas about how to improve it.

Please leave a thought.