Tuesday, October 12, 2010

Win a Mercedes, but Lose a Bungalow....

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Gosh! When I heard that one man had lost S$26,000,000.00 in the casino, it was mind boggling! Today, I read of a millionaire who lost another $100,000,000.00! How on earth can anyone lose so much money? The stakes must be enormously high. I guess the stress must have been equally high too.

With one hundred million dollars, I could buy 100 condos in Singapore, and earn monthly rentals and later, capital gains on the properties.! It is incomprehensible why many people know that "the house always wins" and yet, still make a beeline to the casinos. It would appear as if they are like flies, and the casinos are like cobwebs. You go in, and you will definitely be entrapped! Many people know it, but still go for it!

How about the ordinary people with ordinary lives? I recently learnt from my recruit that she went to the casino and lost $2000/-. I urged her not to go again, for it is hard-earned money. As property agents, we work so hard to close a deal, and how could she just allow the jackpot machines to swallow her money!

My neighbour shared with me that her friend paid for her entry fee of $100 to the casino. She lost $300 on the jackpot machines, and "I felt heart pain the past two days!" My neighbour does not earn much, and $300 is a lot of money to her. She shared that her friend lost $7,000 and borrowed from 5 loan sharks! She had some money from the sale of her HDB flat after her divorce, and all the proceeds had been lost in gambling and now she is in debt!

My plea to all my readers who may have a penchant for gambling. Flee from the casino! Remember the house often, if not, always wins. Remember we may win a mercedes, but lose a bungalow. So why waste your time, money and energy? Also remember that whatever we have been blessed with, either through our hardwork or shrewdness with investments, we have to be good stewards of all that we receive. If only the $26 million and $100 million dollars have been used to help build schools and hospitals in third world countries, or put to good use! If only.....

Gan Cao

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