Friendly reminder that someone on /sp/ just lost $34,835 because

someone post the screenshots

>>75039395

wew. I assume it was that guy from vegas who bet 5,000 on Cincinnati to beat unc in football that one year,

>>75039395
>trusting /sp/
Retard deserved it

>freemoneykek

So what? He still made off with a grand. All things considered, it's a net profit

how can you lose something you never had?

F

>listening to /sp/
>ever betting against fergie time

>>75039395
>just lost
He never had it though. He only ever had a fiver. He still won 1000

he lost because he cashed out

Not quite, in reality that goal turned a subpar but still acceptable decision to cash out into a disastreous one.

people saying at least he won a k stop being so naive he will gamble it and then lose it

>make a grand out of five pound Sterling

LMAO what a loser right guys

>>75039560

Exactly, had he won 28 grand he would've still splurged it in gambling but at least would've kept a couple grand, that 1k is going down the toilet soon

>>75039574
https://en.wikipedia.org/wiki/Opportunity_cost

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>>94

>>75039509

>>75039594
opportunity cost doesn't apply to gambling

>>75039646
Of course it does, especially in a case like this where there was a clear choice involved.

Think you'll find he actually just won £1,000 m8

you can't lose money you don't have
he won 1k£, which is way more than he deserves for actually wasting money on accys

the real loser here is the dutch pizza anon who wasted money on a pizza that didn't arrive and everyone's already forgotten about

>>75039765
>you can't lose money you don't have
Well you can, opportunity cost is real, it just isn't real for gambling. He did come out on top, but even then the thing with gambles is that you always lose on the long term (unless you're the bookie)

>>75039798
He selected the option to pay when the guy gets there so he didn't lose anything in the end except the time he wasted waiting.

>>75039849
Dude, it absolutely is real for gambling. I don't understand why you'd think otherwise, it's a widely applicable concept.

>cashing out on manure in the dying minutes

WEW
E
W

>>75039903
The odds are always stacked against you if you're betting, that's how bookies and casinos are consistently profitable. The long term average opportunity cost will always be negative.
Betting for money is for suckers, you're only excused if you're only doing it for fun. And even then it could be a degenerate behavior.

The real disgrace is no matter how shit they are the FA protect the big historic clubs United, Arsenal, Liverpool and money clubs in London like Chelsea

>>75039991
lol

>>75039991
Like when the Palace player defended with his hands and Chelsea didnt get anything?

>>75039971
But opportunity cost isn't about the odds, it's about comparing the gains/losses with the loss of potential gains/losses when making a choice.

Anon here had a very simple choice here - to cash out or to ride it out. He lost potential gains of 28k by not riding it out. Simple stuff.

>>75040025
>le chelshit gypsy

>>75039991
where in hotspurs do you live mate?

>>75040059
No you're stupid, the profits need to be balanced by the chances. If the lottery has a jackpot of $60 million my opportunity cost for not buying a ticket isn't $60M, it's $60M times the infinitesimal chance of winning, which being smaller than the ticket means it's negative.
The chances of that late goal were too small for the opportunity cost to benefit that anon. He didn't do wrong cashing out.

Did you even get past econ 101?

>>75039991
The best teams get more penalties because they attack more

>>75040118
Did you? We're talking retrospect here. Risk analysis isn't part of the equation.

>>75040087
Chelshit cunt Gary from Dover, fuck off

>>75040176
>We're talking retrospect here
That's the most stupid thing I've ever heard on this website today, and that's quite fucking something. There's a reason why they say hindsight is 20/20

>>75040191
commendably accurate

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>>75040214
>stupider than pissing away 27 grand on the advice of /sp/

>>75040214
In case you forgot what started this argument, it wasn't about whether the dude was silly in cashing out, but about people saying he didn't "lose" anything because he never had anything to begin with. And opportunity cost is applicable in that sense and would explain why the guy probably doesn't feel like he lost nothing.

>>75039587
why are americans such spergs when it comes to gambling?

>>75040313

the country where you need the new iphone, 75 inch tv, new leased car, and brand clothes and headphones just to be accepted and 1000 instagram followers just to get a date with a girl

>>75040262
>>75040176
If you think about opportunity cost in hindsight you also lost a bunch of money buy not playing the right lotto numbers from last sunday

Welp, feels good that my computer crashed right before i confirmed the bet and i couldn't be bothered to remake it, so went out, i had 100€ on
Leicester win
Hoffenheim win
Dortmund win
Monaco win
Everton win

>>75040391
Obviously it needs a very rigid framework. I don't think I'm far off here, the guy had a very simple choice after getting himself to the point where the bet's been made, it's not as crazy as "we're all losing money right now because we dont pick the winning numbers".

>>75040025
You know I love you, right? I wasn't serious

What was his bet?

>>75040600
14 match accy with 12 correct going into the United/Tranmere matches

>>75040343

kak

>>75040246
that's because I'm a foreigner meaning I'm more intelligent than your average person here

screenshots plz

>>75040851
there's one in /bet/

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top kek

14 team accy and didn't include Bayern (they lost) . impressed tbqh

>>75039671
a gamble by definition is opportunity cost

>>75039594
..................that doesn't work in this particular context.

>>75041104
>moyes

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>>75040176
>Did you? We're talking retrospect here.

Damn nigga. Now i done seen some retarded shit in my day but this shit right here...... holy fuck. I'll walk away assuming that you're just shitposting.

>>75040214
>>75041369
Im not an expert here so pls explain why you guys are astonished by his post

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so what ever happened to lineocoke and bet on the underdog or whatever he called himself? did he off himself? did he ever posted again?

>>75041687
Opportunity costs aren't assessed in hindsight, they are considered only when looking futureward at uncertainties so "were talking retrospect here" makes him look retarded. Much in the same way that you can't talk about making predictions about an already known past event, it's just nonsensical. Like the Argie said above, the opportunity cost of cashing out wasn't £28,000, but merely the opportunity (and probability) to win that amount. £28,000 would be his opportunity cost IF and ONLY IF he somehow knew for certain what the outcome was going to be but still chose to cash out early

I think what the German is struggling with is the vocabulary that this discussion calls for.

>>75039395
Wait, wheres a link to the original thread?

>>75039971

shut up retard, you know nothing.

sports betting is 100% profitable

Who the fuck actually wastes £5 on such a cheeky accumulator? It should only ever be a £1 bet for any acca bigger than 4 events.

>>75048329
kek

>>75039971

Casino are rigged to win money in the long run, however betting on sports event isn't 100% random, even if upset happen, there are trends, you can analyse stuff.
You're much more in control in sports betting than in casino stuff like blackjack or roulette

>>75039942

it's like he never watched football before
>ever doing that with manure or rm

>>75050796
>football

>>75050820
>concussionegg

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>>75050820

>>75050938
I dont get your reply brah