· “In an ESPN interview in May 2006, Barkley estimated that he'd lost about $10 million gambling over the years.”
· “In a 2007 interview with Phoenix television station KTVK, Barkley said he lost $2.5 million "in a six-hour period" one night last year.”
· On May 2008, “Charles Barkley acknowledged he owes a $400,000 gambling debt to a Las Vegas Strip casino and promised Thursday to repay it after a prosecutor said the retired NBA star faced criminal charges.”
· In 2006, John Daly admitted losing over $50 million dollars in gambling over the last 12 years.
· In a 2006 interview with Ed Bradley, Michael Jordan admitted, “he’s made some reckless choices at the gambling table with his money.” Jordan goes onto say, "Yeah, I’ve gotten myself into situations where I would not walk away and I’ve pushed the envelope.”
FOCUS, JACK! Your concern is the athlete's gambling problem. And don't try to call Larocque for this one. The radio's down. All right, pop quiz: why do these athletes continue gambling after losing so much money? Common sense would dictate that after losing millions of dollars, or at least a sizeable portion of your net worth, you would give it a rest, right?
"You're crazy! You're fuckin' crazy!"
But let’s say you did your homework and found out that the odds are always stacked against you at the casino. Blackjack, for instance, gives the house a 52% edge and to the best of my knowledge, craps is the only game which allows gamblers to break even. So why on earth would you continue gambling if: a. you keep losing a ton of money b. it’s basically impossible to EVER win at the casino? A TNT analyst asked Barkley this question, and he replied:
"It's not a problem. If you're a drug addict or an alcoholic, those are problems. I gamble for too much money. As long as I can continue to do it I don't think it's a problem. Do I think it's a bad habit? Yes, I think it's a bad habit. Am I going to continue to do it? Yes, I'm going to continue to do it…I'm going to continue gambling. I like to gamble. It's really nobody's business, because it's my own money, I earned it.”
But let’s say you did your homework and found out that the odds are always stacked against you at the casino. Blackjack, for instance, gives the house a 52% edge and to the best of my knowledge, craps is the only game which allows gamblers to break even. So why on earth would you continue gambling if: a. you keep losing a ton of money b. it’s basically impossible to EVER win at the casino? A TNT analyst asked Barkley this question, and he replied:
"It's not a problem. If you're a drug addict or an alcoholic, those are problems. I gamble for too much money. As long as I can continue to do it I don't think it's a problem. Do I think it's a bad habit? Yes, I think it's a bad habit. Am I going to continue to do it? Yes, I'm going to continue to do it…I'm going to continue gambling. I like to gamble. It's really nobody's business, because it's my own money, I earned it.”
Barkley’s response is fascinating on many levels and I think it gives us a window into the mindset of athletes who gamble for outrageous sums of money. Be prepared! This isn't the Boy Scout marching song.
First of all, Barkley admits his gambling is a problem, but doesn’t entertain the notion that it can be an addiction like drugs or alcohol. Drugs and alcohol exist on a separate plane from gambling and from an athlete’s perspective, drinking and doing drugs could ruin your career while gambling is just harmless fun in the offseason. Gambling is legal and while I may lose some money, my ability to play basketball and therefore make more money is not diminished.
(Of course I am merely speculating as to what an athlete may think about gambling, but what I can say for sure is that denials like this one are a sure sign of an addiction. Despite what Charles may say, gambling is addictive just like drugs and booze. And as you all probably know, denial is the first sign of an addiction.)
First of all, Barkley admits his gambling is a problem, but doesn’t entertain the notion that it can be an addiction like drugs or alcohol. Drugs and alcohol exist on a separate plane from gambling and from an athlete’s perspective, drinking and doing drugs could ruin your career while gambling is just harmless fun in the offseason. Gambling is legal and while I may lose some money, my ability to play basketball and therefore make more money is not diminished.
(Of course I am merely speculating as to what an athlete may think about gambling, but what I can say for sure is that denials like this one are a sure sign of an addiction. Despite what Charles may say, gambling is addictive just like drugs and booze. And as you all probably know, denial is the first sign of an addiction.)
Barkley also reminds us that not only can he afford to gamble like a madman, but also that the way he spends his time and money is no one else’s business except his own. I suspect his thinking goes like this: after playing basketball throughout my 20s and 30s, I made a ton of cash and now I have free time to burn. I have more money than God, so who are you to say I can’t gamble it away? “I like to gamble. It's really nobody's business, because it's my own money, I earned it.” The whim of a madman...I like that!
Fair enough, Sir Charles. Spend away! You can think of this mentality another way: what may be a lot of money to regular people is really not that much to rich people. Buffet spending a million dollars is like a regular guy spending $5,000 dollars: probably too much to be gambling, but well within their ability to pay-back over a reasonable length of time.
And what about the overwhelming desire to win and the consequences that may have on your mentality or actions? Jordan and Barkley were fierce competitors and both had the “whatever it takes” mentality during their hey-day.
And what about the overwhelming desire to win and the consequences that may have on your mentality or actions? Jordan and Barkley were fierce competitors and both had the “whatever it takes” mentality during their hey-day.
You think these players wouldn't have been prepared for gambling losses, right? Two years they spent setting up that playoff career, two years they invested in it. You couldn't understand the kind of commitment players like that have. You ruined a man's life's work with this gambling and you think you can walk away? You got blinders on to the world! But I got your attention now, didn't I? Maybe your desire to win “no matter what” makes you do stupid or irrational things sometimes? In his 60 minutes interview, Jordan explains this concept as it relates to gambling:
"I want to win. I want to go out on a limb and win,” says Jordan. "And sometimes that can take you past the stage that you know you probably should take a step back from. Sometimes I don’t look at that line. I just step over that line. But once I step over it and I feel the lack of success,
it’s very embarrassing things.”
"I want to win. I want to go out on a limb and win,” says Jordan. "And sometimes that can take you past the stage that you know you probably should take a step back from. Sometimes I don’t look at that line. I just step over that line. But once I step over it and I feel the lack of success,
it’s very embarrassing things.”
It's a game. If he gets the money he wins, if the bank account blows up he wins.
Whichever reason you choose to believe, it’s always interesting to read about how athletes gamble away their fortunes. I like to think about it this way: no matter who you are or what you’ve done, Vegas is the ultimate equalizer. You can bring a ton of hustle, talent, or hard work to Vegas, but it will always eat you alive and then spit you out.
That said, I can’t wait for my Vegas trip in June....and Speed 3 if they ever make it.
That said, I can’t wait for my Vegas trip in June....and Speed 3 if they ever make it.
1 comment:
Speed is an awesome movie. It won two Academy Awards related to its sound effects. And, it had that awesome scene where the guys head gets taken off when they fight on top of the subway train.
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