Are You a Millionaire?

[Midwest Player]

I just recently seen on the news that now 1 in 20 Americans are millionaires. I'm just wondering how the blackjack community compares with the national average. There is a good chance the person sitting next to you at the blackjack table is a millionaire.

In deciding if you are a millionaire include the equity in your home and cars in you net worth along with other investments.

My feeling is this poll will show less than the national average of millionaires simply because so many folks here are young and you need time to build wealth and generally need to be fairly old to receive an inheritance. If this same question was posted over at BJ21 I'm guessing the results would be quite different.

PS. I'm not a millionaire, and doubt if I will ever be one. However, if I took my pension as a lump sum amount instead of an annuity I would have been close. Then the 2008 stock market crashed.

[RS]

I think people have a tendency to think a million+ net worth is more than it really is. It wouldn't have surprised me if the number was (were?) higher than 1 in 20.

[ZeeBabar]

Millionaires may play blackjack but blackjack players are not going to be millionaires playing blackjack.

[Stealth]

Millionaires may play blackjack but blackjack players are not going to be millionaires playing blackjack.

Now here is some real wisdom!

Let me elaborate.

So you mean that if I am a millionaire I will not be one if I keep playing blackjack?

Or do you mean I can not become a millionaire playing blackjack?

Or both?

What voodoo knowledge is this based on?

[north wind]

Now here is some real wisdom!

Let me elaborate.

So you mean that if I am a millionaire I will not be one if I keep playing blackjack?

Or do you mean I can not become a millionaire playing blackjack?

Or both?

What voodoo knowledge is this based on?

In my case, I decided to change my focus from table games to machines and won ONE MILLION. Too many obstacles to winning at table games, example, number of winning sessions you need, whereas you can win a large sum instantly on a machine. The jackpot was actually 2 Million, but because I won on a free spin, I only received ONE MILLION.
North Wind

[stringer]

In my case, I decided to change my focus from table games to machines and won ONE MILLION. Too many obstacles to winning at table games, example, number of winning sessions you need, whereas you can win a large sum instantly on a machine. The jackpot was actually 2 Million, but because I won on a free spin, I only received ONE MILLION.
North Wind

SERIOUSLY??????????? Dhhhhhhhhhhhhhhhhhhhhhh.............

[Gronbog]

Too many obstacles to winning at table games, example, number of winning sessions you need, whereas you can win a large sum instantly on a machine.

I guess relying on a 1 million dollar jackpot in order to win 1 million wasn't considered an obstacle.

north wind, how are your machine results aside from the lucky jackpot?

[north wind]

I guess relying on a 1 million dollar jackpot in order to win 1 million wasn't considered an obstacle.

north wind, how are your machine results aside from the lucky jackpot?

You go for long periods of time without winning, but we live in a random world and the results can be impressive when you win. There is a learning curve while playing machines, paying attention can pay big dividends. I was ahead on the machine before winning the million.
north wind

[VABJ]

This number can be skewed based on your region where you live. For example, a 1600 sq ft house in CA may be valued at 600K but in OK it's 200K. There's a big difference there. So if that national poll included real estate, many in NY, MA, CA and other states with high real estate would easily fall in the 1 Million+ category.

Then there are salaries. A computer person in San Francisco will make a lot more than one in Iowa. So the person in SF would have more base money overall, but the expenses in SF are much greater too. So would that really wash?

I wonder how many that claimed to be millionaires can stay in that category with just assets excluding their primary home/mortgage. And still a COLA (Cost of Living Allowance) value might have to be applied.

So I guess it's all relative.

Still, a million is a lot of dough...

[Three]

Still, a million is a lot of dough...

Not anymore.

[marriedputter]

Not anymore.

Dang straight. Absolutely not.

[ZeeBabar]

many, many people here will not want to answer that question.

it's just too personal even for people who just use an internet alias.

there are certain questions that are just not proper to ask people.

your question is one of them.

Plus one!

[Freightman]

many, many people here will not want to answer that question.

it's just too personal even for people who just use an internet alias.

there are certain questions that are just not proper to ask people.

your question is one of them.

Fair enough comment - though the sampling is small, the ratio is interesting. Interesting comments were also made in regards value of ones home, which would vary significantly depending on area. Another comment implied was ones salary versus the cost of living.

Wealth is subjective. I moved into my house 26 years ago. It was a desirable area for us, and still is. It was one of the smaller houses in a nice neighbourhood, and it was the best I could do. Kids are long gone, and it's more than big enough now. It was paid off years ago.

Now, just because a guy has millionaire status doesn't guarantee that they have any money. Some of these individuals depend on a "house of cards" scenario. They require that the machine stays at high pace, in order to keep it fed. When the machine slows down, the vultures start to circle.

I, for one, at this stage, prefer a trouble free scenario. Most if my money is tied up in cash (cash equivalents).

So, the question, taking regional disparities out if the equation.

What is your net worth excluding your principal residence. If still in business, can you survive a protracted downswing (much like a 300 hour losing streak). What is your monthly nut - mortgage costs, car insurance costs, medical costs etc.

I wouldn't be surprised if there are pretty smart guys out there, who haven't earned a lot of money, and yet, have built substantial net WORTH's, with happy lives to boot.