Ex-Mayor of San Diego lost $1BILLION gambling
February 14th, 2013 at 5:30:15 PM
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Los Angeles Times article
San Diego Union Tribune article
Approx. $2 million of it came from monies earmarked by her deceased husband for charity. Apparently from 2000-2009 she won $1bil but lost it all back and then some
San Diego Union Tribune article
Approx. $2 million of it came from monies earmarked by her deceased husband for charity. Apparently from 2000-2009 she won $1bil but lost it all back and then some
Quote: San Diego Union TribuneUnder terms of OConnors deferred prosecution, she has to undergo psychiatric treatment for gambling addiction, obey all laws and try to pay back the money.
February 14th, 2013 at 5:33:00 PM
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I don't believe it. May have wagered a lot, but not that she lost 1 billion.
February 14th, 2013 at 5:34:21 PM
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Quote: Fuengirola2I don't believe it. May have wagered a lot, but not that she lost 1 billion.
whether it is even close to $1bil or not, it is a hefty sum!
February 14th, 2013 at 5:35:28 PM
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I bet she was a slot addict. Girls don't play tables! ;) Would take a lifetime or two to lose so much in slots.
February 14th, 2013 at 5:40:04 PM
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Quote: Fuengirola2Would take a lifetime or two to lose so much in slots.
Actually, seeing as how she played video poker, according to the Tribune, she could have been at a $5 machine with multiple lines. That can add up pretty fast and big, especially with a high variance pay table.
February 15th, 2013 at 7:24:32 AM
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$1 billion in handle, $13 million in actual losses.
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
February 15th, 2013 at 7:41:50 AM
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If she lost her money, then that's all a private matter between herself and her family, and maybe any creditors. If she embezzled city funds, or stole tax money ro something, than it is a public matter.
Donald Trump is a fucking criminal
February 15th, 2013 at 7:44:02 AM
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A billion right. The person who wrote the article tried making it sexy quoting a billion in losses not knowing what coin-in is.
I am a robot.
February 15th, 2013 at 8:16:59 AM
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"...had $1 billion in gambling winnings between 2000 and 2009, but she posted losses during the same period that were greater than that amount."
This is not the same as losing 1 billion. This is running through $1 billion. Actual losses could be anywhere between $1 and $50 million.
If $13 million above is correct, it's plausible for VP with some negative variance.
This is not the same as losing 1 billion. This is running through $1 billion. Actual losses could be anywhere between $1 and $50 million.
If $13 million above is correct, it's plausible for VP with some negative variance.
Resist ANFO Boston PRISM Stormfront IRA Freedom CIA Obama
February 15th, 2013 at 8:36:03 AM
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Quote: P90"...had $1 billion in gambling winnings between 2000 and 2009, but she posted losses during the same period that were greater than that amount."
This is not the same as losing 1 billion. This is running through $1 billion.
this is certainly true. One hour at the $5 - 3x4x5x Craps table for me means wagering $2000 to $2500 on average, and I am a low roller. Just a simple matter of making about 45 line bets, with odds when applicable, per hour for me at about $40 each average.
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell! She is, after all, stone deaf. ... Arnold Snyder
February 15th, 2013 at 8:47:38 AM
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Wonder about the comps.......
There are three types of people in this world,those who can count and those who can not.
February 15th, 2013 at 9:10:58 AM
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Quote: onenickelmiracleA billion right. The person who wrote the article tried making it sexy quoting a billion in losses not knowing what coin-in is.
It is absolutely losing a billion gambling. Us sick gamblers just don't want to admit that. Every single play is a bet and is resolved at video poker. She won roughly 987 million and lost a billion in ten years.
At my age, a "Life In Prison" sentence is not much of a deterrent.
February 15th, 2013 at 9:25:51 AM
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Damn, I wish you would help me with my taxes.
Shed not for her
the bitter tear
Nor give the heart
to vain regret
Tis but the casket
that lies here,
The gem that filled it
Sparkles yet
February 15th, 2013 at 9:33:37 AM
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True, but it's disingenuous and makes no sense to say she "lost a billion" gambling without the context of also winning $987 million. That's not how any gambler, accountant, or business looks at things.Quote: DRichIt is absolutely losing a billion gambling. Us sick gamblers just don't want to admit that. Every single play is a bet and is resolved at video poker. She won roughly 987 million and lost a billion in ten years.
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
February 15th, 2013 at 9:39:53 AM
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Yeah, Play-Thru is much different than Coin-In.
Using the Play-Thru standard, I'm sure there are plenty of billion dollar players out there.
Heck, I'm sure most WoV members are at least million dollar players - at lifetime Play-Thru.
And if anyone is still thinking that it meant that she was UP $1billion, get some common sense. Really? A BILLION? Like, the casino cut her a check, she took it to the bank, and then, eventually lost it all back. Is THAT what he writer was trying to make us believe?
Think about it.
Using the Play-Thru standard, I'm sure there are plenty of billion dollar players out there.
Heck, I'm sure most WoV members are at least million dollar players - at lifetime Play-Thru.
And if anyone is still thinking that it meant that she was UP $1billion, get some common sense. Really? A BILLION? Like, the casino cut her a check, she took it to the bank, and then, eventually lost it all back. Is THAT what he writer was trying to make us believe?
Think about it.
I invented a few casino games. Info:
http://www.DaveMillerGaming.com/
Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁
February 15th, 2013 at 9:48:46 AM
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deleted
DUHHIIIIIIIII HEARD THAT!
February 15th, 2013 at 10:35:27 AM
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Yeah, the "lost a billion" title is quite unfair to her. She is just a significant gambling addict. She got a billion in W-2G forms! So being down $13M is probably not that bad at all.
February 15th, 2013 at 11:11:07 AM
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Phillip Seymore Hoffman can play her in the movie version of the story:
Simplicity is the ultimate sophistication - Leonardo da Vinci
February 15th, 2013 at 11:15:16 AM
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I love riches to rags stories. I can't help it.....Quote: NareedIf she lost her money, then that's all a private matter between herself and her family, and maybe any creditors. If she embezzled city funds, or stole tax money ro something, than it is a public matter.
February 15th, 2013 at 11:45:59 AM
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Quote: NareedIf she lost her money, then that's all a private matter between herself and her family, and maybe any creditors. If she embezzled city funds, or stole tax money ro something, than it is a public matter.
Yeah she stole money from her deceased husband's nonprofit
Vote for Nobody 2020!
February 22nd, 2013 at 4:12:29 PM
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Our very own Wizard gets some quotes in this follow-up article from the UT:
How to lose $1 billion in video poker
Once again, a completely incorrect headline. It's not just misleading, it's flat-out wrong: she didn't lose $1 billion, she lost about $13 million on a billion coin in!
How to lose $1 billion in video poker
Once again, a completely incorrect headline. It's not just misleading, it's flat-out wrong: she didn't lose $1 billion, she lost about $13 million on a billion coin in!
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
February 22nd, 2013 at 6:31:38 PM
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There appears to be at least one major extenuating circumstance:
"As mayor she was always in control. Her gambling was out of control.
"I thought I could beat that machine," she said. "And when it got worse, I didn't know I had the silent grenade in my head that could go off at any time."
The "silent grenade" was a golf ball-sized tumor doctors removed from her brain. They discovered it two years ago when she started hallucinating. She says she believes the slow-growing tumor contributed to her gambling addiction. "It's not an excuse for my gambling, but I think that was, yes, a part of it. You lose your sense of control," she said. cbsnews
"As mayor she was always in control. Her gambling was out of control.
"I thought I could beat that machine," she said. "And when it got worse, I didn't know I had the silent grenade in my head that could go off at any time."
The "silent grenade" was a golf ball-sized tumor doctors removed from her brain. They discovered it two years ago when she started hallucinating. She says she believes the slow-growing tumor contributed to her gambling addiction. "It's not an excuse for my gambling, but I think that was, yes, a part of it. You lose your sense of control," she said. cbsnews
February 22nd, 2013 at 7:16:31 PM
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I can't remember where the first place I heard this article was, but it was attached to a statement that basically ran "The ex-mayor of San Diego won a billion dollars at the casino. The problem is, she lost even more."
February 22nd, 2013 at 9:03:01 PM
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if Ive got $100 in my pocket and I sit at a machine or table all night I might win a little then put it back in but at the end of the night I might have revolved about $1000 or $2000 but I still only lost $100 ... so to say she lost 1 billion is simply dramatization. Its really sad when 13 million is not enough of a story seller that we have to falsely amp it up to a billion to make it grab our attention.....!!
A Riddle Wrapped In A Mystery Inside An Enigma
February 22nd, 2013 at 11:00:19 PM
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For those of you who don't understand that the headline about losing a billion dollars is absolutely wrong and complete nonsense, consider this:
She started with a fortune of $50-million dollars. How can you lose a billion if you only have $50-million to begin with?
Now, if she had markers for the gap between 50-million and one-billion then yes, she could have lost a billion dollars. So far, I have seen nothing about markers in excess of $950,000,000.
All of these headlines are the result of lawyers trying to pump up the case against her, the defense pumping up the case for her, and the hard-working reporters who never set foot in a casino like the rest of us and understand the concepts of coin-in, coin-out, win/loss, and churning money.
The prosecutor mentions the billion dollars to paint evil all over her.
The defense mentions the billion dollars to evoke sympathy.
The reporters just aren't too bright which is why they cover police and fire stories... because they know the police are supposed to catch the bad guys, and the firemen are supposed to put the fire out.
She started with a fortune of $50-million dollars. How can you lose a billion if you only have $50-million to begin with?
Now, if she had markers for the gap between 50-million and one-billion then yes, she could have lost a billion dollars. So far, I have seen nothing about markers in excess of $950,000,000.
All of these headlines are the result of lawyers trying to pump up the case against her, the defense pumping up the case for her, and the hard-working reporters who never set foot in a casino like the rest of us and understand the concepts of coin-in, coin-out, win/loss, and churning money.
The prosecutor mentions the billion dollars to paint evil all over her.
The defense mentions the billion dollars to evoke sympathy.
The reporters just aren't too bright which is why they cover police and fire stories... because they know the police are supposed to catch the bad guys, and the firemen are supposed to put the fire out.
February 23rd, 2013 at 6:33:30 AM
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Quote: AlanMendelson
The prosecutor mentions the billion dollars to paint evil all over her.
The defense mentions the billion dollars to evoke sympathy.
The reporters just aren't too bright which is why they cover police and fire stories... because they know the police are supposed to catch the bad guys, and the firemen are supposed to put the fire out.
Its similar to those stories of guy who walked into Binions and put a whole suitcase on the PassLine. When Benny Binion said "Book It" without batting an eye or hesitating an instant, the whole table and everyone nearby was galvinized into action. Everybody dug deep for chips and joined in the bet. Some may have been betting along with the guy with the quarter million dollars and some may have been betting against him, but they all dug deep and Benny Binion kept the action going along with the legendary belief that he would book any action, any time. Now the guy who risks a quarter million dollars on one roll of the dice may have the same addiction as someone who risks that quarter million over a period of five years but you have to admire the guts of the addict who is willing to do it in one roll!
Would be nice if the reporters got the story without just the headline making hoopla.
