Please use this thread to discuss your proudest and most interesting moments in gambling: wins, losses, streaks, etc. Rule 6 is in place to keep this thread relevant; please ask questions or submit general comments as separate text posts.

Edit 1: More ARKQ buying today (~50k shares). Thank you everyone for the positive feedback and discussion!
Bottom Line Up Front (BLUF) or TL;DR for the non-military types:
LMT is a good target if you want to literally go to the moon, and my PT is $690.26 in two years (more than 2x from current levels). Justification and some possible trade ideas are listed below, just CTRL-F “Trade Ideas”. I hope you guys enjoy this work and would appreciate any discussion or feedback. I hope to catch you in the comments.
Team,
We interrupt today’s regularly scheduled short squeeze coverage to discuss a traditionally boring stock, LMT (Lockheed Martin), with significant upside potential. To be clear, this is NOT a short squeeze target like many reddit posts are keying on. I hope that this piece sparks discussion, but if you are just looking for short squeeze content, all I have to say is BUY, HOLD, and GODSPEED.
The source of inspiration for me writing this piece is threefold; first, retail investors are winning, and I believe that we will continue to win if we continue to identify opportunities in the market. In my view, the stock market has always been a place for the public to shine a light on areas of innovation that real Americans are excited about and proud to be a part of. Online communities have stolen the loudspeaker from hedge fund managers and returned it to decentralized online democracies that quickly and proudly shift their weight behind ideas they believe in. In GME’s case, it was a blatant smear campaign to destroy a struggling business. I think that we should continue this campaign by identifying opportunities in the market and running with them. It may sound overly idealistic, but if reddit can take on the hedge funds, I non-ironically believe that we can quite literally take good companies researching space technology to the moon. I think LMT may be one of several stocks to help get us there.
Second, a video where the Secretary of State of Massachusetts argues that internet boards are full of a bunch of unsophisticated, thoughtless traders really ticked me off. This piece is designed to show that ‘the little guy’ is ready to get into the weeds, understand business plans, and outpace analysts that think companies like Tesla are overvalued by comparing them to Toyota. That is a big reason that I settled on an old, large, slow growth company to do a deep-dive on, and try my best to show some of the abysmal predictive analysis major ‘research firms’ do on even some of the most heavily covered stocks. LMT is making moves, and the suits on wall street are 10 steps behind. At the time of writing this piece, Analyst Estimates range from 330-460 (what an insane range).
Third, and most importantly, I am in the US military, and I think that it is fun to go deep into the financials of the defense sector. I think that it helps me understand the long-term growth plans of the DoD, and I think that I attack these deep-dives with a perspective that a lot of these finance-from-day-one cats do not understand. Even if no one ever looks at this work, I think that taking the time to write pieces like this makes me a better Soldier, and I will continue to do it in my spare time when I am feeling inspired. I wrote a piece on Raytheon Technologies (Ticker: RTX) 6 months ago, and I think it was well-received. I was most convicted about RTX in the defense sector, but I have since shifted to believing LMT is the leader in the defense space. I am long both, though. If this inspires anyone else to do similar research on other companies, or sparks discussion in the community, that is just a bonus. Special shout-out to the folks that read more than just the TL;DR, but if you do just read the TL;DR, I love you too!
Now let us get into it:
Leadership
I generally like to invest in companies that are led by people that seem to have integrity. Jim Taiclet took the reins at LMT in June of last year. While on active duty, he served as a C-141B Starlifter pilot (a retired LMT Aircraft). After getting out he went to work for the American Tower Corporation (Ticker: AMT). His first day at American Tower was September 10, 2001. The following day, AMT lost 13 employees in the World Trade Center attack. He stayed with the company, despite it being decimated by market uncertainty in the wake of 9/11. He was appointed CEO of the very same company in 2004. Over a 16 year tenure as CEO of AMT the company market cap 20x’d. He left his position as CEO of AMT in March of last year, and the stock stagnated since his departure, currently trading at roughly the same market cap as to when he left.
Jim Taiclet was also appointed to be the chairman of the board this week, replacing the previous CEO. Why is it relevant that the CEO came from a massive telecommunications company?
Rightfully, Taiclet’s focus for LMT is bringing military technology into the modern era. He wants LMT to be a first mover in the military 5G space, military application of AI space, the… space space, and the hypersonic glide vehicle (HGV) space. These areas are revolutionary for the boomer defense sector. We will discuss this in more detail later when we cover the company’s P/E multiple and why it is absolute nonsense.
It is not a surprise to me that they brought Taiclet on during the pandemic. He led AMT through adversity before, and LMT’s positioning during the pandemic is tremendous relative to the rest of the sector, thanks in large part to some strong strategic moves and good investments by current and past leadership. I think that Taiclet is the right CEO for the job.
In addition to the new CEO, the new Secretary of Defense, Secretary Lloyd Austin, has strong ties to the defense sector. He was formerly a board member for RTX. He is absolutely above reproach, and a true leader of character, but I bring this up not to suggest that he will inappropriately serve in the best interest of defense contractors, but to suggest that he speaks the language of these companies effectively. I do not anticipate that the current administration poses as significant of a risk to the defense sector as many analysts seem to believe. This will be expanded in the headwinds section below.
SPACE
Cathie Wood and the ARK Invest team brought a lot of attention to the space sector when the ARKX, The ARK Space Exploration ETF, Form N-1A was officially filed through the SEC. More recently, ARK Invest published their Big Ideas 2021 Annual Report and dedicated an entire 7-page chapter to Orbital Aerospace, a new disruptive innovation platform that the ARK Team is investigating. This may have helped energize wall street to re-look their portfolios and their investments in space technology, but it was certainly not the first catalyst that pushed the defense industry in the direction of winning the new space race.
In June 2018, then President Trump announced at the annual National Space Council that “it is not enough to merely have an American presence in space, we must have American dominance in space. So important. Therefore, I am hereby directing the Department of Defense (DoD) and Pentagon to immediately begin the process necessary to establish a Space Force as the sixth branch of the Armed Forces". Historically, Department of Defense space assets were under the control of the Air Force. By creating a separate branch of service for the United States Space Force (USSF), the DoD would allocate a Chairman of Space Operations on the Joint Chiefs of Staff and clearly define the budget for space operations dedicated directly to the USSF. At present, this budget is funneled from the USAF’s budget. The process was formalized in December of 2019, and the DoD has appropriated ~$15B to the USSF in their first full year of existence according to the FY21 budget.
Among the 77 spacecraft that are controlled by the USSF, 29 of them are Lockheed Martin GPS satellites, 6 of them are Lockheed Martin Space-Based Infrared Systems (SBIRS), and LMT had a hand in creating and/or manufacturing for several of the other USSF efforts. The Next Generation Overhead Persistent Infrared Missile Warning Satellites (also known as Next-Gen OPIR) were contracted out to both Northrup Grumman (Ticker: NOC) and LMT. LMT’s contract is currently set at $4.9B, NOC’s contract is set at $2.37B.
Tangentially related to the discussion of space is the discussion of hypersonic glide vehicles (HGVs). HGVs have exoatmospheric and atmospheric implications, but I think that their technology is extremely important to driving margins down for both space exploration and terrestrial point-to-point travel. LMT is leading the charge for military HGV research. They hold contracts with the Navy, Air Force, and Army to develop HGVs and hypersonic precision fires. The priority for HGV technology accelerated significantly when Russia launched their Avangard HGV in December of 2019. Improving the technology for HGVs is a critical next-step in maintaining US hegemony, but also maintaining leadership in both terrestrial and exoatmospheric travel.
LARGE SCALE COMBAT OPERATIONS (LSCO)
The DoD transitioning to Large-Scale Combat Operations (LSCO) as the military’s strategic focus. This is a move away from an emphasis on Counter-Insurgency operations. LSCO requires effective multi-domain operations (MDO), which means effective and integrated strategies regarding land, sea, air, space, and cyberspace. To have effective MDO, the DoD is seeking systems that both expand capabilities against peer threats and increase the ability to track enemy units and communicate internally. This requires a modernizing military strategy that relies heavily on air, missile, and sensor modernization. Put simply, the DoD has decided to start preparing for peer or near-peer adversaries (China, Russia, Iran, North Korea) rather than insurgencies. For this reason, I believe that increased Chinese and Russian tensions are, unfortunate as it may be, a boon to the defense industry. This is particularly true in the missiles/fires and space industry, as peer-to-peer conflicts are won by leveraging technological advantages.
There are too many projects to cover in detail, but some important military technologies that LMT is focusing on to support LSCO include directed energy weapons (lasers) to address enemy drone technology, machine learning / artificial intelligence (most applications fall under LMT’s classified budget, but it is easy to imagine the applications of AI in a military context), and 5G to increase battlefield connectivity. These projects are all nested within the DoD’s LSCO strategy, and position LMT as the leader in emergent military tech. NOC is the other major contractor making a heavy push in the modernization direction, but winners win, and I think a better CEO, balance sheet, and larger market cap make LMT the clear winner for aiding the DoD in a transition toward LSCO.
SECTOR COMPARISON (BACKLOG)
The discussion of LSCO transitions well into the discussion of defense contractor backlogs. Massive defense contracts are not filled overnight, so examining order backlogs is a relatively reliable way to gauge the interest of the DoD in a defense contractor’s existing or emerging products. For my sector comparison, I am using the top 6 holdings of the iShares U.S. Aerospace & Defense ETF (Ticker: ITA). I hate this ETF, and ETFs like it (DFEN) because of their massively outsized exposure to aerospace, and undersized allocation to companies like LMT. LMT is only 18% smaller than Boeing (Ticker: BA) but is only 30.4% of the exposure of BA (18.46% of the fund is BA, only 5.62% of the fund is LMT). Funds of this category are just BA / RTX hacks. I suggest building your own pie on a site like M1 Finance (although they are implicated in the trade restriction BS… please be advised of that… hoping other brokerages that are above board will offer similar UIs like the pie design… just wanted to be clear there) if you are interested in the defense sector.
The top 6 holdings of ITA are:
Boeing Company (Ticker: BA, MKT CAP $110B) at 18.46%
Raytheon Technologies (Ticker: RTX, MKT CAP $101B) at 17.84%
Lockheed Martin (Ticker: LMT, MKT CAP $90B) at 5.62%
General Dynamics Corporation (Ticker: GD, MKT CAP $42B) 4.78%
Teledyne Technologies Incorporated (Ticker: TDY, MKT CAP $13B) at 4.74%
Northrop Grumman Corporation (Ticker: NOC, MKT CAP $48B) at 4.64%
As a brief aside, please look at the breakdowns of ETFs before buying them. The fact that ITA has more exposure to TDY than NOC and L3Harris is wild. Make sector ETFs balanced how you want them to be balanced and it will be more engaging, and you will likely outperform. I digress.
Backlogs for defense companies can easily be pulled from their quarterly reports. Here are the current backlogs in the same order as before, followed by a percentage of their backlog to their current market cap. All numbers are pulled from January earning reports unless otherwise noted with an * because they are still pending.
Boeing Company backlog (Commercial: $282B, Defense: $61B, Foreign Military Sales (FMS, categorized by BA as ‘Global’): 21B, Total Backlog 364B): BA’s backlog to market cap is a ratio of 3.32, which is strong, but most of that backlog comes from the commercial, not the defense side. Airlines have been getting decimated, I am personally not interested in having much of my backlog exposed to commercial pressures when trying to invest in a defense play. Without commercial exposure, their defense only backlog ratio is .748. This is extremely low. I understand that this does not do BA justice, but I am keying in on defense exposure, and I am left thoroughly unsatisfied by that ratio. Also, we have seen several canceled contracts already on the commercial side.
Raytheon Technologies backlog (Defense backlog for all 4 subdivisions: 67.3B): Raytheon only published a defense backlog in this quarter’s report. That is further evidence to me that the commercial aerospace side of the house is getting hammered. They have a relatively week backlog to market cap as well, putting them at a ratio of .664, worse off than the BA defense backlog.
Lockheed Martin backlog (Total Backlog: $147B): This backlog blows our first two defense backlogs out of the water with a current market cap to backlog ratio of 1.63.
General Dynamics Corporation backlog (Total Backlog: $89.5B, $11.6B is primarily business jets, but it is difficult to determine how much of their aerospace business is commercial): Solid 2.13 ratio, still great 1.85 if you do not consider their aerospace business. The curveball here for me is that GD published a consolidated operating profit of $4.1B including commercial aerospace, whereas LMT published a consolidated operating profit of $9.1B. This makes the LMT ratio of profit/market cap slightly in favor of LMT without accounting for the GD commercial aerospace exposure. This research surprised me; I may like GD more than I originally assumed I would. Still prefer LMT.
Teledyne Technologies Incorporated backlog (Found in the earnings transcript, $1.7B): This stock is not quite in the same league as the other major contractors. This is an odd curveball that a lot of the defense ETFs seem to have too much exposure to. They have a weak backlog, but they are a smaller growing company. I am not interested in this at all. It has a backlog ratio of .129.
Northrop Grumman Corporation backlog ($81B): Strong numbers here. I see NOC and LMT as the two front-runners in the defense sector. I like LMT more because I like their exposure to AI, 5G, and HGVs more than NOC, but I think this is a great alternative to LMT if you like the defense sector. Has a ratio of 1.69, slightly edging out LMT on this metric. LMT edges out NOC on margins by ~.9%, though, which has significant implications when considering the depth of the LMT backlog.
The winners here are LMT, GD, and NOC. BA is attractive if you think anyone will have enough money to buy new planes. BA and RTX are both getting hammered by commercial aerospace exposure right now and are much more positioned as recovery plays. That said, LMT and NOC both make money now, and will regardless of the impact of the pandemic. LMT is growing at a slightly faster rate than NOC. Both are profit machines, but I like LMT’s product portfolio and leadership a lot more.
FREE CASH FLOW
Despite the pandemic, LMT had the free cash flow to be able to pay a $2.60 per share dividend. This maintains their ~3% yearly dividend rate. They had a free cash flow of $6.4B. They spent $3.9 of that in share repurchases and dividend payouts. That leaves 40% of that cash to continue to strengthen one of the most stalwart balance sheets outside of big tech on the street. Having this free cash flow allowed them to purchase Aerojet Rocketdyne for $4.4B in December. They seem flexible and willing to expand and take advantage of their relative position during the pandemic. This is a stock that has little downside risk and significant upside potential. It is always reassuring to me to know that at the end of the day, a company is using its profit to continue to grow.
HEADWINDS
New Administration – This is more of an unknown than a headwind. The Obama Administration was not light on military spending, and the newly appointed SecDef is unlikely to shy away from modernizing the force. Military defense budgets may get lost in the political shuffle, but nothing right now suggests that defense budgets are on the chopping block.
Macroeconomic pressure – The markets are tumultuous in the wake of GME. Hedgies are shaking in their boots, and scared money weighed on markets the past week. If scared money continues to exert pressure on the broader equity markets, all boomer stocks are likely weighed down by slumping markets.
Non-meme Status – The stocks that are impervious to macroeconomic pressures in the above paragraph are the stonks that we, the people, have decided to support. From GME to IPOE, there is a slew of stonks that are watching and laughing from the green zone as the broader markets slip deeper into the red zone. Unless sentiment about LMT changes, I see no evidence that LMT will remain unaffected by a broader economic downturn (despite showing growth YoY during a pandemic).
TAILWINDS
Aerojet Rocketdyne to the Moon – Cathie Wood opened up a $39mil position in LMT a few weeks ago, and this was near the announcement of ARKX. The big ideas 2021 article focuses heavily on satellite technology, deep learning, and HGVs. I think that the AR acquisition suggests that vertical integration is a priority for LMT. They even fielded a question in their earnings call about whether they were concerned about being perceived as a monopoly. Their answer was spot on—the USFG and DoD have a vested interest in the success of defense companies. Why would they discourage a defense contractor from vertical integration to optimize margins?
International Tensions – SolarWinds has escalated US-Russia tensions. President Biden wants to look tough on China. LSCO is a DoD-wide priority.
5G.Mil – We still do not have a lot of fidelity on what this looks like, but the military would benefit in a lot of ways if we had world-wide access to the rapid transfer of encrypted data. Many units still rely on Vietnam-era technology signal technology with abysmal data rates. There are a lot of implications if the code can be cracked to win a DoD 5G contract.
TRADE IDEAS
Price Target: LMT is currently at a P/E of ~14. Verizon has roughly the same. LMT’s 5-year P/E ratio average is ~17. NOC is currently at a P/E of ~20. TSLA has a P/E Ratio of 1339 (disappointingly not 1337). P/E is a useless metric because no one seems to care about it. My point is that LMT makes a lot of money, and other companies that are valued at much higher multiples do not make any money at all. LMT’s P/E ratio is that of a boomer stock that has no growth potential. LMT’s P/E is exactly in line with the Aerospace and Defense Industry P/E ratio standard. LMT’s new CEO is pushing the industry in a new direction. I will arbitrarily choose a P/E ratio of 30, because it is half of the software industry average, and it is a nice round number. Plus, stock values are speculative and nonsense anyway.
Share price today: $321.82
Share price based on LMT average 5-year P/E: $384.08 (I see this as a short term PT, reversion to the mean)
Share price with a P/E of 30: $690.26
Buy and Hold: Simple. Doesn’t take much thought. Come back in a year or two and be happy with your tendies (and a few dividends to boot).
LEAPS Call Debit Spread (Based on last trade prices): Buy $375 C 20 JAN 23 for $26.5, Sell $450 C 20 JAN 23 for $12. Total Cost $14.5 for a spread width of $75. Max gain 517% per spread. Higher risk strategy.
LEAPS: Buy $500 C 20 JAN 23 for $7.20. Very high-risk strat. If the price target is hit within two years, these would be in the money $183 per contract for a gain of 2500%. This is the casino strat.
SOURCES
https://www.lockheedmartin.com/en-us/news/features/2020/james-taiclet-from-military-pilot-to-successful-ceo.html
https://www.warren.senate.gov/newsroom/press-releases/in-response-to-senator-warrens-questions-secretary-of-defense-nominee-general-lloyd-austin-commits-to-recusing-himself-from-raytheon-decisions-for-four-years
https://news.lockheedmartin.com/2019-08-30-Lockheed-Martins-Expertise-in-Hypersonic-Flight-Wins-New-Army-Work
https://www.lockheedmartin.com/en-us/capabilities/hypersonics.html
https://research.ark-invest.com/hubfs/1_Download_Files_ARK-Invest/White_Papers/ARK%E2%80%93Invest_BigIdeas_2021.pdf?hsCtaTracking=4e1a031b-7ed7-4fb2-929c-072267eda5fc%7Cee55057a-bc7b-441e-8b96-452ec1efe34c
https://www.deseret.com/2018/6/19/20647309/twitter-reacts-to-trump-s-call-for-a-space-force
https://comptroller.defense.gov/Portals/45/Documents/defbudget/fy2021/fy2021_Budget_Request_Overview_Book.pdf
https://www.airforcemag.com/lockheed-receives-up-to-4-9-billion-for-next-gen-opir-satellites/
https://spacenews.com/northrop-grumman-gets-2-3-billion-space-force-contract-to-develop-missile-warning-satellites/
https://www.lockheedmartin.com/en-us/capabilities/directed-energy/laser-weapon-systems.html
https://emerj.com/ai-sector-overviews/lockheed-martins-ai-applications-for-the-military/
https://www.defenseone.com/business/2020/07/new-ceo-wants-lockheed-become-5g-playe167072/
https://www.wsj.com/articles/defense-firms-expect-higher-spending-11548783988
https://www.etf.com/ITA#efficiency
https://s2.q4cdn.com/661678649/files/doc_financials/2020/q4/4Q20-Presentation.pdf
https://investors.rtx.com/static-files/dfd94ff7-4cca-4540-bc4b-4e3ba92fc646
https://investors.lockheedmartin.com/static-files/64e5aa03-9023-423a-8908-2aae8c7015ac
https://s22.q4cdn.com/891946778/files/doc_financials/2020/q4/GD_4Q20_Earnings_Highlights-Outlook-Final.pdf
https://www.fool.com/earnings/call-transcripts/2021/01/27/teledyne-technologies-inc-tdy-q4-2020-earnings-cal/
https://investor.northropgrumman.com/static-files/6e6e117f-f656-4c68-ba7f-3dc53c2dd13a

I am a novice for sure. Played for fun for years and this quarantine I got obsessed. Started with free games while going through req. reading (1%, essential poker math etc.,) and I’m up to real money now (.05/.10). I only play around 5000-10000 hands a week. Mostly online and sometimes live (1 casino an hour away has the poker room open) all cash games so far (except some 3 seat tourney style game on the site I frequent).
With my ignorance of full display... How do I fix going full tilt like an idiot? I will play as well as I am able, then I will lose a big pot and the math will back my decision and then luck will kick in for the villain and then I go mental. It’s like I see someone else get lucky and my brain can’t comprehend it and just stick to the math. Before I know it I am misreading hands saying eff it to the math and I look down and I don’t know what happened.
When I win a big hand; however, I am very disciplined about not going full tilt.
Lurking for a bit I know this may be a dumb question. I just don’t have anyone who knows the game well enough to ask. And I totally get that I’m in poker grade school asking the big kids. So I appreciate any feedback.
Other things I guess to note are: I keep to the book work mostly. Never at a table with more than 5% of my roll, I play pretty tight and try to stay aggressive when I’m in position/in range. I feel like I’m making good strides and then wham I feel like I have no clue what I’m doing again.
Maybe I just needed to vent? Lol this sub is awesome and I’ve learned a lot just reading posts and comments, so thanks for all the knowledge!

Please use this thread to discuss your proudest and most interesting moments in gambling: wins, losses, streaks, etc. Rule 6 is in place to keep this thread relevant; please ask questions or submit general comments as separate text posts.

Hi, over the course of 4 weeks I’ve made a total of 1800$ and lost it in the span of 2 weeks. I started with a 10$ deposit on a gambling site and I played multiple games until I eventually made my way to 200$ on live casino games then down to 60$, where I tried slots and made a total of $1200. I ended the night off with 960$ from 10$ and was fucking stoked and feeling the best I ever could. I withdrew it and over the course of 2 weeks it never came in my crypto wallet and I can’t really file for support because they would ask for my KYC and then I’d prolly not even get the funds and my dad would kill me if he found out I was gambling (especially since now i lost everything).
Following this I opened 650$ worth of csgo site gambling, csgo cases, and more gambling in general using my real money (I’ve been saving for months and my birthday just passed). I built up a 1200$ cs inventory and this past week I couldn’t hold onto it and deposited it back into these sites and have gambled it all away because I couldn’t really cash it out into real money and the rates I was getting the crypto equivalent was worse than me 650$ initial deposit so my brain told me to gamble it till I was in profit and little by little my whole inventory disappeared and I now have nothing.
This has taken a toll on me mentally and physically. I use to workout everyday and keep up with my social and now I haven’t in a week and respond to everyone every 10 hours. My schoolwork is up to par but I’ve always been a consistent student and I don’t want to slack. I didn’t think I’d be addicted to gambling as I’ve done multiple other things just as bad that haven’t affected me like this but it was probably due to the fact I made it to such an insane number from 10$ I thought I could do anything. Now here I am sharing my story and hopefully never going to gamble again (yes I’ve already started a plan to stop) and I am kind of thankful it’s happening to me now and not when I’m a working adult who could potentially be a crippling gambling addict (although 650$ is a lot of money but if it’s saved me from a future of debt I’m thankful). Now initially I was gambling for the thrill because my profits way exceeded my deposit but these past few days I’ve chased my losses and tried to actually make money (which was never the intent I always knew it was a losing game) because I was delusional to think that I could make it all back easily.
So here I am 1800$ profit down the hole and 650$ of my own money down the hole. I’ve been gambling little amounts since quarantine because I was bored out of my mind but they would be at intervals of like 10$ every other week or so (which is still bad but not even close to as bad as this month). I’m also physically and mentally drained and I haven’t felt worse in a long time. The craziest thing is that no one knows besides who I told that I’m even like this right now and I seem completely normal. I dont have any cravings to gamble right now and hopefully I won’t in the near future as I have accepted my losses and started to do online work to get it back (without gambling). It’s also a test of willpower to see if I relapse or not which I hope I don’t
Now your probably asking me why I wouldn’t just cash out my 1200$ inventory and I can’t even give you a proper answer to that one. It’s mainly because I saw that I’d be selling it at 60-65% lf it’s marker value which breaks even with what I spent and then you have to add in the commission from the website and the fact that crypto is really high rn so the amount I’d be getting isn’t as much as it could’ve been (although I could just hold it it’s bound to go up long term ETH and BTC specifically). So I thought that if I could deposit all my skins on the gambling sites (they take it at like 70% of the market value) and then proceed to gamble it all the way up till 1200$ I could cash it out without losing that humongous chunk of profit because I’m very greedy and pessimistic when it comes to settling down for a reasonable price. Then it went downhill and I lost everything. My luck in every game was horrible I was literally losing every game I played (which doesn’t surprise me it’s like these websites know when your desperate and when your not).
Moral of the story is don’t gamble and if you do use an amount your comfortable with losing. If you do and you lose don’t go back in and if you do and you win cash out and don’t go back in because once you win you get this feeling that you could profit if you just put in a lil more and this is when you’re sucked in. There are better ways to make money (I invested in Bitcoin when I was younger and my profits r insane but I will never touch my btc wallet for money because it’s a long term investment). Don’t chase your losses either if you lose accept that you’ve lost and you won’t be digging yourself deeper in a hole you can’t get out of. I actually hope that you lose the first time you gamble because you’ll probably stay away from it which is way valuable than any sort of winnings you would’ve had.
I should say though that not all of it is your fault (most of it is tho). Online gambling is as enticing as ever especially during a pandemic, and although most of these sites always say “don’t go on unless your 18+” they know that a lot of underage people use their website. These big sites like csgo case opening sites are filled with shiny bright coloured cases with a price tag on them (I’m not saying that they encourage youth gambling but I am saying the layout of the website is appealing to children). Youth are attracted to these shiny colourful cases and they as a result are more likely to deposit these shiny looking cases (this sounds like a stretch but this is my opinion so feel free to disagree). It’s also the fact that it’s SO EASY to deposit onto these sites and withdraw. Since most teenagers have a debit card (or even buying prepaid cards works on most of them), it takes a quick 3 minutes to put on a few hundred dollars if you really wanted to. The withdrawals aren’t usually restricted either unless it’s big amounts in the thousands (which most kids don’t have in the first place) meaning it looks like an easy way to make money and cash out. Most of these sites won’t push for age verification because it’s easy money when teenagers deposit money. And before they even go on these websites, games like csgo and dota 2 have BUILT IN GAMBLING SYSTEMS. These case and cosmetic openings in the game usually cost a small sum of money but are usually the start of thjs gambling interest especially when they get something good from the case and want to put more down. I’d call myself a lucky person considering I’ve unboxed 2 knives, and a red and multiple pinks in a kind of small amount of cases compared to the average person and this just drove me to try my luck on all these gambling sites since I had good luck in the game. These websites and games aren’t “anti- teenage gambling”.
If you read all this and are looking for a reason not to gamble, I hope this helped you and if u read thru all this thanks for listening to my story
TL:DR I’m a 16 year old who made 1800 gambling, then used all my savings after losing some, and am at 0$ currently and physically and mentally drained

TL:DR

• This is Part 1 of my two part deep dive on DraftKings (Ticker: DKNG, I will refer to the company as “DK”)
• This first part introduces you to (1) me, (2) the company, (3) my thesis on the company, and (4) digs into how they make money.
• The second part (already released, you can read it here - but get through part 1 first :) ) will go in depth to explore the question “Can we 10x from here?”
• DK is an exciting, disruptive company working to change how we experience watching sports and make it better.
• I am not a financial advisor and this is not investment advice. These are just my opinions to help facilitate learning and discussion.

Hello, welcome to my first deep dive write up.
My name’s Mark and I’m an accountant with a passion for investing. About two years ago, I used to work as an auditor at a public accounting firm and have been behind the scenes at many different publicly traded and privately held companies in the U.S. My goal is to bring my unique perspective from that past experience, my current experience working in a new role at a large corporation, and my understanding of accounting to help break down some of the most exciting growth stocks on the market today.
I’m a long-term investor. I am focused on finding great companies and holding them for a long time. I’m willing to endure volatility, crazy price drops, and everything that comes with this approach as long as the facts that led me to originally invest and believe in that company have not changed. If you want to learn more about this approach. I recommend reading the book “100 Baggers” by Chris Mayer.
Introduction
I think it’s fitting that my first stock pick has to do with sports. Sports has been a part of my life since I could walk at the age of 2. First with baseball and soccer, and then later in my childhood with golf. I’ve always played American football and basketball for fun as well and have always been an avid fan of all the major sports in the US.
I started playing fantasy sports (mostly just fantasy football) about 6 years ago and have always enjoyed it. Traditionally, with fantasy football you draft a team at the beginning of the year and those are your players for the rest of the season. If you have a bad draft, oh well. You can try to improve your team with trades and free agent additions but it is tough. Leagues usually consist of 10-14 teams (each managed by an individual) and there’s obviously only one winner at the end of the season (about 4 months after the draft). This can lead to the managers of the lower performing teams losing interest as the season wanes on. I believe DraftKings’ (DK) founders saw this issue and saw an opportunity. Enter, daily fantasy sports. Now, with the DK platform you can draft a new team every week. Or if you want, every day. This allows fans of fantasy sports to engage at whichever point of the season they want and at varying financial stakes.
The Thesis Statement
For every stock pick I make, I want to provide a quick thesis statement that can serve as a reminder for why I’m buying and holding that stock for the long term. I’ll always aim to make it just a few sentences long so it can easily be remembered and internalized. This helps during times when the price may sporadically drop and you need to remember why you’re holding this position.
The thesis statement I have come up with for DK is as follows:
“DraftKings: The leader in allowing fans to engage financially with their favorite sports, teams, and players. Having money at stake makes the game a lot more interesting to watch. The era of daily fantasy sports games, online sports betting, and online betting (outside of sports), is just getting started and DK is as well positioned (or better positioned) than anyone to capitalize off of this trend.”
Notice how I said “allowing fans to engage financially” as the first sentence and not necessarily “allowing fans to gamble”. There’s a reason for that. According to US Federal Law, Daily Fantasy Sports (DFS) contests have specifically been exempted from the prohibitions of the Unlawful Internet Gambling Enforcement Act (UIGEA). DK has always been, and I believe will continue to be DFS contests 1st, sports betting 2nd, and other forms of gambling/entertainment 3rd. It is noteworthy that states at an individual level can still deem DFS contests illegal if they so wish, but as of this writing (11/26/20), 43 of the 50 US States allow DFS contests and DK, accordingly, is offering DFS contests in all 43 of those US States.
I’ll try to clarify the difference between DFS contests and sports betting real quick:
DFS Contest – Pay a pre-set entry fee to enter a contest. All entry fees go towards “The Pot”. “Draft” 9 players to be on your “Team” for 1 week. Enter your “Roster” into a contest with other players (could range from 1 other person to 1,000s of people, the DK user can choose). Whichever “Roster” amasses the most points for that week out of all contestants wins. The winner will get the highest payout, and depending on the nature of the contest, other top finishers will receive smaller payouts as well.
Sports Gambling – Team A is considered a 10 point favorite to defeat Team B. This means that Team A is expected, by the professional gambling line setters, to outscore Team B by 10 points. This is known as a point spread. You can bet on the underdog or the favorite. If you bet on the favorite, they have to win by more than 10 points for you to win the bet. If you bet on the underdog, you will win the bet as long as the underdog keeps the game within less than a 10 point defeat.
These are just a couple simple examples to help you see the difference. Sports Gambling (the 2nd priority of DK) is a very lucrative market just as the DFS contests are. However, in the US, Federal Laws and regulations are a lot stricter on Sports Gambling than they are on DFS. As of this writing (11/27/20), 22 states (including the District of Columbia) out of 51 possible allow sports gambling.
DK is still in the infancy stages of getting their sports gambling business going. In the 22 states where they could potentially operate, they currently have a sports gambling offering in 11 of those states. The sports gambling business model for DK can be broken into two main offerings – mobile sports betting, and retail sports betting. Mobile sports betting means you can place a sports bet online from the comfort of your own home, while retail sports betting means you must go to a casino and place a bet with the sportsbook in person. I personally believe mobile sports betting is the real potential cash cow for DK out of the two types of sports betting offerings due to the convenience and ease of access. DK is currently working on and encouraging customers to lobby their state lawmakers to legalize sports gambling in more states.
How DK makes money
At the very least, before you invest in a company, you better understand how they make money. In Chris Mayers’ excellent book, 100 Baggers, that I mentioned above, he continually references top line revenue growth as one of the main common indicators of a possible 100 Bagger. This isn’t to tell you that any stock I pick will be a 100 Bagger just because it has great top line revenue growth, but if I am looking at a growth stock to hold for the long term, revenue growth is one of the first things I look at.
For DK, their means of making money is quite simple. I already went into detail above about DFS Contests and Sports Gambling. In DK’s latest 10-Q filing with the SEC (filed 11/13/20), revenue is broken out into two main streams: Online Gaming and Gaming Software.
Online Gaming (82% of Total Revenue for 9 months ended 9/30/20):
Online gaming is the true core business of DK and includes the aforementioned DFS Contests, Sports Gambling and additional gambling (non-sports) opportunities. DK refers to their additional gambling (non-sports) as “iGaming” or “online casino”.
For the 9 months ended 9/30/20, Online Gaming revenue totaled $239M, up 30% YoY from $184M in the same prior year period. Keep in mind, that this is an increase that happened during a COVID-19 global pandemic that delayed and shortened many professional sports seasons.
Online gaming revenue is earned in a few ways that are slightly different, but very similar overall. In order to enter a DFS contest, a customer must pay an entry fee. DFS revenue is generated from these entry fees collected, net of prize payouts and customer incentives awarded to users. In order to place a sports bet (sports gambling), a customer places a wager with a DK Sportsbook. The DK Sportsbook sets odds for each wager that builds in a theoretical margin allowing DK to profit. Sports gambling revenue is generated from wagers collected from customers, net of payouts and incentives awarded to winning customers. The last form of online gaming revenue is earned in similar fashion to a land-based casino, offering online versions of casino games such as blackjack, roulette, and slot machines.
Gaming Software (18% of Total Revenue for 9 months ended 9/30/20):
While the Online Gaming revenue stream mentioned above is a Business to Consumer (B2C) model, the Gaming Software revenue stream is a Business to Business (B2B) model. The Gaming Software side of the business was born out of the acquisition of SBTech, a company from the Isle of Man (near the UK) founded in 2007 that has 12+ years of experience providing online sports betting platforms to clients all over the world. The acquisition occurred as part of the SPAC driven IPO in April of 2020 that combined “the old DK company” with SBTech so that they now are “the new DK company” listed as DKNG on the NASDAQ. SBTech is a far more important part of the story than just being 18% of today’s revenue. The reason for this is because DK will eventually (planned mid-late 2021) be migrating all of their DFS and gambling offerings onto SBTech’s online platforms. Currently, for DFS, DK uses their own proprietary platform but that will move to SBTech with the migration. Currently, for online gambling, DK uses Kambi, the same online gambling platform that services Penn Gaming (PENN), a DK rival. But that’s enough about the software migration for now, back to the Gaming Software revenue.
The Gaming Software revenue stream for DK is essentially a continuation of SBTechs’ B2B business model. DK contracts with business customers to provide sports and casino betting software solutions. DK typically enters two different type of arrangements with B2B customers when selling the gaming software:

1. Direct Customer Contract Revenue: In this type of transaction, the software is sold directly to a business (casino for example) that wants to use the software for their own gambling operations. This revenue is generally calculated as a percentage of the wagering revenue generated by the business customer using DK’s software and is recognized in the periods in which those wagering and related activities conclude.
2. Reseller Arrangement Revenue: In this type of transaction, DK provides distributors with the right to resell DK’s software-as-a-service offering to their clients, using their own infrastructure. In reseller arrangements, revenue is generally calculated via a fixed monthly fee and an additional monthly fee which varies based on the number of gaming operators to whom each reseller sub-licenses DK’s software.

As mentioned above, SBTech was an international company based in the Isle of Man before being acquired by DK. Thus, the majority of their business in their first 12 years of operating independently has always been international and outside of the United States. This has helped DK, which has historically been US focused, expand it’s international reach.
A perfect example of expanding this international reach occurred recently during October (technically Q4) in which DK’s B2B technology (powered by SBTech) helped enable the launch of “PalaceBet”, a new mobile and online sportsbook offering from Peermont, a South Africa based resort and casino company. The deal was headed by DK’s new Chief International Officer, Shay Berka, who previously spent 10 years working for SBTech as CFO and General Manager. Mr. Berka took on the role of DK’s Chief International Officer upon the merger in April earlier this year. I think this deal shows that DK has integrated SBTech and it’s business very well into the larger business as a whole. They are not wasting any time using their newly acquired resources to expand their reach and bring in new sources of revenue.
This is the end of my first article about DK. My goal is to drop Part 2 later this week. The focus of Part 2 will be an in depth answer of the question – “Can we 10x from here?”
Disclosure: I am/we are long DKNG. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

TL:DR

• This is Part 1 of my two part deep dive on DraftKings (Ticker: DKNG, I will refer to the company as “DK”)
• This first part introduces you to (1) me, (2) the company, (3) my thesis on the company, and (4) digs into how they make money.
• The second part (to be released later this week) will go in depth to explore the question “Can we 10x from here?”
• DK is an exciting, disruptive company working to change how we experience watching sports and make it better.
• I am not a financial advisor and this is not investment advice. These are just my opinions to help facilitate learning and discussion.

Hello, welcome to my first deep dive write up.
My name’s Mark and I’m an accountant with a passion for investing. About two years ago, I used to work as an auditor at a public accounting firm and have been behind the scenes at many different publicly traded and privately held companies in the U.S. My goal is to bring my unique perspective from that past experience, my current experience working in a new role at a large corporation, and my understanding of accounting to help break down some of the most exciting growth stocks on the market today.
I’m a long-term investor. I am focused on finding great companies and holding them for a long time. I’m willing to endure volatility, crazy price drops, and everything that comes with this approach as long as the facts that led me to originally invest and believe in that company have not changed. If you want to learn more about this approach. I recommend reading the book “100 Baggers” by Chris Mayer.
Introduction
I think it’s fitting that my first stock pick has to do with sports. Sports has been a part of my life since I could walk at the age of 2. First with baseball and soccer, and then later in my childhood with golf. I’ve always played American football and basketball for fun as well and have always been an avid fan of all the major sports in the US.
I started playing fantasy sports (mostly just fantasy football) about 6 years ago and have always enjoyed it. Traditionally, with fantasy football you draft a team at the beginning of the year and those are your players for the rest of the season. If you have a bad draft, oh well. You can try to improve your team with trades and free agent additions but it is tough. Leagues usually consist of 10-14 teams (each managed by an individual) and there’s obviously only one winner at the end of the season (about 4 months after the draft). This can lead to the managers of the lower performing teams losing interest as the season wanes on. I believe DraftKings’ (DK) founders saw this issue and saw an opportunity. Enter, daily fantasy sports. Now, with the DK platform you can draft a new team every week. Or if you want, every day. This allows fans of fantasy sports to engage at whichever point of the season they want and at varying financial stakes.
The Thesis Statement
For every stock pick I make, I want to provide a quick thesis statement that can serve as a reminder for why I’m buying and holding that stock for the long term. I’ll always aim to make it just a few sentences long so it can easily be remembered and internalized. This helps during times when the price may sporadically drop and you need to remember why you’re holding this position.
The thesis statement I have come up with for DK is as follows:
“DraftKings: The leader in allowing fans to engage financially with their favorite sports, teams, and players. Having money at stake makes the game a lot more interesting to watch. The era of daily fantasy sports games, online sports betting, and online betting (outside of sports), is just getting started and DK is as well positioned (or better positioned) than anyone to capitalize off of this trend.”
Notice how I said “allowing fans to engage financially” as the first sentence and not necessarily “allowing fans to gamble”. There’s a reason for that. According to US Federal Law, Daily Fantasy Sports (DFS) contests have specifically been exempted from the prohibitions of the Unlawful Internet Gambling Enforcement Act (UIGEA). DK has always been, and I believe will continue to be DFS contests 1st, sports betting 2nd, and other forms of gambling/entertainment 3rd. It is noteworthy that states at an individual level can still deem DFS contests illegal if they so wish, but as of this writing (11/26/20), 43 of the 50 US States allow DFS contests and DK, accordingly, is offering DFS contests in all 43 of those US States.
I’ll try to clarify the difference between DFS contests and sports betting real quick:
DFS Contest – Pay a pre-set entry fee to enter a contest. All entry fees go towards “The Pot”. “Draft” 9 players to be on your “Team” for 1 week. Enter your “Roster” into a contest with other players (could range from 1 other person to 1,000s of people, the DK user can choose). Whichever “Roster” amasses the most points for that week out of all contestants wins. The winner will get the highest payout, and depending on the nature of the contest, other top finishers will receive smaller payouts as well.
Sports Gambling – Team A is considered a 10 point favorite to defeat Team B. This means that Team A is expected, by the professional gambling line setters, to outscore Team B by 10 points. This is known as a point spread. You can bet on the underdog or the favorite. If you bet on the favorite, they have to win by more than 10 points for you to win the bet. If you bet on the underdog, you will win the bet as long as the underdog keeps the game within less than a 10 point defeat.
These are just a couple simple examples to help you see the difference. Sports Gambling (the 2nd priority of DK) is a very lucrative market just as the DFS contests are. However, in the US, Federal Laws and regulations are a lot stricter on Sports Gambling than they are on DFS. As of this writing (11/27/20), 22 states (including the District of Columbia) out of 51 possible allow sports gambling.
DK is still in the infancy stages of getting their sports gambling business going. In the 22 states where they could potentially operate, they currently have a sports gambling offering in 11 of those states. The sports gambling business model for DK can be broken into two main offerings – mobile sports betting, and retail sports betting. Mobile sports betting means you can place a sports bet online from the comfort of your own home, while retail sports betting means you must go to a casino and place a bet with the sportsbook in person. I personally believe mobile sports betting is the real potential cash cow for DK out of the two types of sports betting offerings due to the convenience and ease of access. DK is currently working on and encouraging customers to lobby their state lawmakers to legalize sports gambling in more states.
How DK makes money
At the very least, before you invest in a company, you better understand how they make money. In Chris Mayers’ excellent book, 100 Baggers, that I mentioned above, he continually references top line revenue growth as one of the main common indicators of a possible 100 Bagger. This isn’t to tell you that any stock I pick will be a 100 Bagger just because it has great top line revenue growth, but if I am looking at a growth stock to hold for the long term, revenue growth is one of the first things I look at.
For DK, their means of making money is quite simple. I already went into detail above about DFS Contests and Sports Gambling. In DK’s latest 10-Q filing with the SEC (filed 11/13/20), revenue is broken out into two main streams: Online Gaming and Gaming Software.
Online Gaming (82% of Total Revenue for 9 months ended 9/30/20):
Online gaming is the true core business of DK and includes the aforementioned DFS Contests, Sports Gambling and additional gambling (non-sports) opportunities. DK refers to their additional gambling (non-sports) as “iGaming” or “online casino”.
For the 9 months ended 9/30/20, Online Gaming revenue totaled $239M, up 30% YoY from $184M in the same prior year period. Keep in mind, that this is an increase that happened during a COVID-19 global pandemic that delayed and shortened many professional sports seasons.
Online gaming revenue is earned in a few ways that are slightly different, but very similar overall. In order to enter a DFS contest, a customer must pay an entry fee. DFS revenue is generated from these entry fees collected, net of prize payouts and customer incentives awarded to users. In order to place a sports bet (sports gambling), a customer places a wager with a DK Sportsbook. The DK Sportsbook sets odds for each wager that builds in a theoretical margin allowing DK to profit. Sports gambling revenue is generated from wagers collected from customers, net of payouts and incentives awarded to winning customers. The last form of online gaming revenue is earned in similar fashion to a land-based casino, offering online versions of casino games such as blackjack, roulette, and slot machines.
Gaming Software (18% of Total Revenue for 9 months ended 9/30/20):
While the Online Gaming revenue stream mentioned above is a Business to Consumer (B2C) model, the Gaming Software revenue stream is a Business to Business (B2B) model. The Gaming Software side of the business was born out of the acquisition of SBTech, a company from the Isle of Man (near the UK) founded in 2007 that has 12+ years of experience providing online sports betting platforms to clients all over the world. The acquisition occurred as part of the SPAC driven IPO in April of 2020 that combined “the old DK company” with SBTech so that they now are “the new DK company” listed as DKNG on the NASDAQ. SBTech is a far more important part of the story than just being 18% of today’s revenue. The reason for this is because DK will eventually (planned mid-late 2021) be migrating all of their DFS and gambling offerings onto SBTech’s online platforms. Currently, for DFS, DK uses their own proprietary platform but that will move to SBTech with the migration. Currently, for online gambling, DK uses Kambi, the same online gambling platform that services Penn Gaming (PENN), a DK rival. But that’s enough about the software migration for now, back to the Gaming Software revenue.
The Gaming Software revenue stream for DK is essentially a continuation of SBTechs’ B2B business model. DK contracts with business customers to provide sports and casino betting software solutions. DK typically enters two different type of arrangements with B2B customers when selling the gaming software:
​

1. Direct Customer Contract Revenue: In this type of transaction, the software is sold directly to a business (casino for example) that wants to use the software for their own gambling operations. This revenue is generally calculated as a percentage of the wagering revenue generated by the business customer using DK’s software and is recognized in the periods in which those wagering and related activities conclude.
2. Reseller Arrangement Revenue: In this type of transaction, DK provides distributors with the right to resell DK’s software-as-a-service offering to their clients, using their own infrastructure. In reseller arrangements, revenue is generally calculated via a fixed monthly fee and an additional monthly fee which varies based on the number of gaming operators to whom each reseller sub-licenses DK’s software.

As mentioned above, SBTech was an international company based in the Isle of Man before being acquired by DK. Thus, the majority of their business in their first 12 years of operating independently has always been international and outside of the United States. This has helped DK, which has historically been US focused, expand it’s international reach.
A perfect example of expanding this international reach occurred recently during October (technically Q4) in which DK’s B2B technology (powered by SBTech) helped enable the launch of “PalaceBet”, a new mobile and online sportsbook offering from Peermont, a South Africa based resort and casino company. The deal was headed by DK’s new Chief International Officer, Shay Berka, who previously spent 10 years working for SBTech as CFO and General Manager. Mr. Berka took on the role of DK’s Chief International Officer upon the merger in April earlier this year. I think this deal shows that DK has integrated SBTech and it’s business very well into the larger business as a whole. They are not wasting any time using their newly acquired resources to expand their reach and bring in new sources of revenue.
This is the end of my first article about DK. My goal is to drop Part 2 later this week. The focus of Part 2 will be an in depth answer of the question – “Can we 10x from here?”
Disclosure: I am/we are long DKNG. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Okay so I decided to create this guide with the hopes of it becoming a sticky thread for all newbies to the online slots world, to read as we deal with the same topics repeatedly and the same answers/advice are given repeatedly. Not that we do not want to help, but these would prevent you from getting into situations before its too late, or blaming casinos when you were in the wrong.
Signing up or Registration
Registration – Please carefully read the general terms and conditions about every "Right" the casino has and please note that you accepted these terms upon signing up, which means you are saying you are okay with it and agree with what the casino state about what they can and cannot do.

• No Deposit bonuses/Signup bonus – Many players are still NDB (No Deposit Bonus) hunters and register simply for these reasons. Please read the NDB/Signup Bonus terms carefully to make sure your country is eligible to receive the NDB/Signup bonus. We had many players getting upset about this factor and then end up closing their accounts immediately out of anger which leads to SE (Self Exclusion) at times. which I will address later in this thread. However, we do have instances where a casino does not list the eligible countries that can or cannot receive the NDB/Signup bonuses.
• More than one player in 1 house Hold – Many casinos only allow one player per house/IP address to register at a casino. You can ask a casino if you and your partnesibling who stays together can both signup and some casinos would give the "Ok". Just make sure you have this in written confirmation via email or something and not live chat.

Claiming Bonuses
Read the bonus terms carefully before claiming any bonuses and look for the following pointers when reading the bonuses rules:

• Wagering – Many casinos have increased their wagering on bonuses lately which makes bonus wagering very difficult to complete these days. Decide whether the wagering attach to the bonus is high or low for you since you know your game play and strategies. Many factors can influence whether you will be able to meet wagering, which is the x amount of wagering, game providers availability and deposit amount just to name a few. Also note that wagering for "certain countries" are higher than others. For me personally I think wagering between x35 – x50 on the "Bonus" amount "Only" is reasonable and fair.
• Max Bet – 99% of casinos have a max bet rule in place when claiming a bonus. Note what the max bet is for the specific casinos as it can range anything from 1 – 5 euro/$ per Spin. Deposit methods can affect the max bet as well as some casinos limit the max bet rule between 1 – 2 euro per spin for deposits using e-wallets, however that same casinos allow a max bet up to 5 euro per spin for credit card/Alternative deposits. Even though a casino state the max bet rule another tricky rule in the terms that we tend to miss is the coin value. Some casinos state that the max "Coin domination/value" should be $0.20 or $0.50 per spin which means if you want to bet higher you would need to adjust the "Level" portion in the slot if the coin domination/value limit is reached according to the terms. If you breach the Max bet rule and it is stated in their terms, you do not have a case, period. There are some casinos who you can explain your situation if it was a mistake and they do sometimes make exceptions.
• Deposit methods – Many casinos lately have restricted the claiming of bonuses using e-wallet deposit methods such as Neteller, Skrill etc. Note they mention these 2 as they are most popular, but that also means any other form of e-wallets are not eligible to claim bonuses. I have seen a lot of players complain that they did not receive the bonus simply because they did not read the terms before claiming the bonus and the deposit has already been made. Also make sure you deposit using your own card, do not use your parents or any other siblings credit card to make deposits as this would cause a problem during verification which in the end results in to winnings not being paid out.
• Deposit Methods Additional Info – Many deposits are available from Casinos or let's say most casinos have the same deposit methods available, however the country that you reside in has the influence on what deposit methods are available and the same counts for withdrawals. So, for instance if AskGamblers website state deposit by phone which is "Boku" is available at that specific casino it does not mean that it will be available for all players, as that is depending on your country. Deposit by phone is mostly available for the UK players basically as an example.
• Max Cash-Out – Many players claim bonuses and after they complete wager, they tend to withdraw immediately. Some players are left with substantial amounts only to find out they can only get x2 the bonus amount (Casinos like "Viks" casino and "Quasar Gaming" have this rule) or x10 their deposit. I understand this is frustrating and upsetting, but the problem is with the player itself. Stop blaming casinos because you could not do the simplest thing in the world which is just take 5 minutes to read the bonus terms.
• Restricted games – Please check which games are allowed and not allowed to be played with bonus funds. Some casinos have a feature where bonus money is not even visible on the restricted games, but other casinos bonus money will show on restricted games. In many instances these would not lead to confiscation of winnings, it just that it would not count towards wagering. They also have a term where they would say that bets place on all "Other" games other that "Slot machines" will be deemed in violation of the terms and condition and your bonus winnings will be voided – So watch out for this one.
• Double up feature – The only thing to say here is that this will not counts towards wagering.
• Cashable and Non-Cashable bonuses – This one is another tricky one, some people call it a "Sticky bonus". This just means where you receive the bonus you can use it to place bets and for wagering purposes, but the bonus amount can never be withdrawn. I find this term ridiculous and always avoid this type of bonuses.
• Bonus Abuse – This is a very complex/broad subject but mention the basic ones (Thanks for forum members tips which I included on this one), the rest you can do your own research about the rest associated with bonus abuse as we all have different opinions
• Bonus per player, per account, per IP address etc. If you take that same bonus twice or more times, using different accounts under your name, then it's an abuse.
• Claiming free spins offers – Deposit to get free spins and withdrawing deposit after claiming free spins but continue to play free spins is also some form of bonus abuse.
• Accumulating bonus rounds and start playing them when your bonus balance reach zero, and you win those money as real cash.
• Anything you can think of that disadvantages the house (Casino).
• Bonus wagering period – This never really is a problem, but just make sure you complete you bonus wagering with the set time frame the casino provided. This can range anything from 3 – 30 days otherwise winnings will be voided.

There are other bonus terms that I have not mentioned but I think the above ones are the most important as these could affect you in terms of confiscation of your winnings should you breach any of them.
Verification
This is pretty much standard for a casino to ask for some form of Identification, proof of address and proof of deposit when requesting a withdrawal. Depending on the amount win, some casinos might not need documents, however when a substantial amount has been won additional verification or security checks might be done which means a longer withdrawal time frame. Verification or KYC is necessary, however I feel when casinos ask for selfies with your ID next to you etc. in my opinion is just ridiculous. Also, I have noticed some casinos requesting your source of income to see where you get the money to make deposits etc. This seems standard and you would need to do it to get your withdrawal, however all of us have different opinions about this verification procedure.
Withdrawals
Many casinos have different withdrawal time frames and when you accept the general terms and conditions you have to a abide by them, by this I mean stop being impatient and complain that the casinos withdrawal time frames are the worst etc. As you knew this before you started playing provided you have read the terms and condition. You decided to deposit and play so then wait for your money, eventually it will come unless you breached some rule, or the casino is a rogue casino.
Here are some of the tips you should note when it comes to withdrawals at casinos:

• Verification – This is standard procedure and you have to do this if the casino request it.
• Time-frames – This one I feel can be interpreted in many ways but let me give you my version of how I View things. When a casino says e-wallets 0 – 1 or 0 – 24 hours. This means that the casinos use that time-frame to process your withdrawal and after it being processed your money should be instantly available. Credit cards that state 3 – 7 business days and this is where some newbies get this wrong – This simply state the time frame they take to process the payment to your card, it does not mean you will get your money within 3 – 7 days, however this is possible. Prepare yourself for the longest waiting period to avoid becoming impatient and upset – So if a casino says 3 – 7 days expect to get it in 10 days max, however you can get it within 4 days, but sometimes casinos just stretch it to process it on the last day possible with the hopes you would reverse the withdrawal and continue to play. This technique of casinos sometimes works. So, if they process your withdrawal it can take another 3 – 5 days to hit your account based on your location and the banks in your country as they have internal controls with foreign currency. There are however hiccups with payment providers/processors etc. but these are at times out of the casinos control. My best is advice is "Patience".
• Reversing Withdrawals – With the timeframes explanation I just gave above and being impatient, players tend to reverse their withdrawals. They continue playing and end up losing their winnings. Stop blaming casinos as this is your own fault that you Lost the funds. You made the decision to reverse the withdrawal. If you really need to play, make a deposit at another casino or sister website and play there while you patiently wait for you withdrawal. Some casinos have the lock feature, so lock down your withdrawal so you do not reverse the withdrawal or play at other casinos which has quicker withdrawal time frames of 0 – 1 hour instead of days. The key here is "Patience".

Self-Exclusion
Self-Exclusion is a big thing these days and most cases substantial amounts are involved that are being confiscated. There are at times very little that us forum members or even AskGamblers can do when a player self-excluded and played at a sister website or similar, as we know the result and of course the house is kind of right. However, I think it's bad that a casino only realizes the self-exclusion portion on a player profile once it reaches withdrawal stage, because I feel they should have something in place that can detect that you self-excluded upon registration or before you even make your first deposit. People with gambling problems tend to self-exclude but the alternative is to read this guide - https://www.askgamblers.com/forum/topic/2152-sos-i-am-addicted-to-gambling-what-to-do/ . My advice is to keep your casino account open and do not play there anymore, because even if you request a permanent account closure, some casinos tend to self-exclude you without you knowing it and this would cause problems in future since you opened another account at their sister website or something.

The Home of Fame and Fortune
Heading for the win and seeking a trusted online casino? King Johnnie is in the gambling Hall of Fame with a variety of exceptional gaming titles delivered by leading software providers. It differs from tons of other similar websites offering the same gaming and bonus opportunities. At King Johnnie Casino, you will understand how easy it can be to get up to $6,000 cash-free plus up to 200 spins at zero cost. It is your lucky chance to start an award-winning gambling career with multiple promotion opportunities and generous offers.
The website strikes users with a unique and capturing design. Each detail was made to make players feel comfortable and relaxed. Despite the fact it is a relatively new project, King Johnnie has already made a name for itself as a trusted and honest gambling service provider. It ensures quick cash withdrawal using multiple payment options with games delivered by some of the most respected software providers in the industry.
Feel like taking a chance and try your luck here? Make sure you claim a generous welcome and other bonuses to get free cash on not only the first but also second, third, or even tenth deposit. VIP players will appreciate additional perks and features while newbies can count on professional support, a clear wagering policy, and lots of other great options delivered by King Johnnie Casino out of the box.
https://casinokingjohnnie.com/

Top-Rated Casino Games for all Tastes

Either you are a beginner with a dedication to classic casino slots or an experienced gourmet searching for up-to-date emulators with exceptional graphics, King Johnnie has a wide selection of games to offer. They represent some of the most iconic and well-known titles such as Gold Digger, Sun of Egypt, and King of Kings to some more exotic and exclusive options including Golden Vein, Wombaroo, and others.
Players will have a chance to choose from several slot categories. They are as follows:
- Traditional casino games such as roulette and baccarat.
- Popular card games including Black Jack, poker, etc.
- Modern slot machines with 3D graphics, amazing visuals, and sound effects.
- Classic slots with progressive jackpots.
- Additional options in the form of scratch cards, sports betting, and so on.
Each game refers to a particular genre. Here we have traditional Egypt-related games in addition to emulators with popular cartoon and movie characters. Choose the one you like and try it free at no cost. A great way to benefit from risk-free gaming and work out an effective strategy.

Most Respected Software Developers

Do you know what makes a casino game special? It is not only about gameplay, theme, or graphics, It is about simplicity and the maximum available payout percentage. King Johnnie collaborates with some of the most trusted and top-rated software providers. They include such legendary titles as BetSoft, Evolution Gaming, QuickSpin, IGT, and many other recognizable companies.
Advanced technologies ensure 100% safe gaming in addition to high odds of winning the big prize. All slots are available in a flash version. You may try them free without depositing real money. All games are sorted by the software provider. Choose the one from the list and select the slot you like with a click.

This is the Working Glitches Thread! This is always being improved, and if you have any recommendations please let me know in the comments or send me a direct message. If you know a glitch is working on any other platform I haven't included or doesn't work anymore, also let us know. If a platform is in italics, it means it is unsure. Strikethrough means it is patched, and no longer works.
———————————————————————
Money & RP Glitches:

Facility Heist Glitch - PS4, Xbox, PC - Solo	3 Card Poker Glitch - PS4, Xbox - Solo	Gold Glitch 2.0 - PS4, Xbox, PC - Non-Solo
Slight RP Glitch - PS4, Xbox, PC - Solo	AFK Money Job - PS4 - Non-Solo	Re-supplying MC/Bunker Glitch - PS4, Xbox, PC - Solo
Replay Heist Glitch - All Platforms - Non-Solo	(Not) A Great Money Glitch - PS4, Xbox, PC - Solo	Casino Replay Glitch - PS4 - Non-Solo
Daily Vault Glitch - PS4, Xbox, PC - Solo	Double Money When Robbing Stores - PS4, Xbox - Solo	Change Casino Vault Target Glitch - PS4, Xbox, PC - Solo
Duffel Bag Glitch - PS4, Xbox, PC - Non-Solo	3 In 1 - RP and Money Glitch - PS4, Xbox, PC - Non-Solo	Bogdan Easier Way - PS4, Xbox, PC - Non-Solo
Same Vault Contents As Last Heist - PS4, Xbox, PC - Solo	Floating RP Glitch - PS4, Xbox, PC - Solo	Stop The Bunker Sale Countdown - PS4, Xbox - Solo
Sell Any Arena War Vehicle For 3.8m - PS4, Xbox - Solo	100k from AW Discount - PS4, Xbox , PC - Solo	Insurgent Duplication Glitch - PS4, Xbox, PC - Solo
Cerberus Arena Money Glitch - PS4, Xbox - Solo	MOC + CEO Office Dupe Glitch - PS4, Xbox, PC - Solo	Cerberus Money Glitch - PC - Solo
4m With The Apartment Money Glitch - PS4, Xbox, PC - Solo	5.15m From The Apartment Money Glitch - PS4, Xbox, PC - Solo	RP Glitch - PS4, Xbox, PC - Solo
Arena War Race RP Glitch - PS4, Xbox, PC - Non-Solo

​
Player Based Glitches:

Clothing Transfer Glitch - PS4, Xbox, PC - Solo	TP Glitch - PS4, Xbox - Solo	TP During VIP Work Glitch - PS4, Xbox, PC - Solo
Duffel Bag Glitch - PS4, Xbox, PC - Solo	Any Outfit From Doomsday Heist Glitch - PS4, Xbox - Non-Solo	Illuminated Flashing T-Shirt Glitch - PS4, Xbox - Semi-Solo
Coloured Duffel Bag Glitch - PS4, Xbox, PC - Solo	Paramedic + Noose Outfit Glitch - PS4 - Non-Solo	Topless Character Glitch - PS4, Xbox, PC - Solo
Free Appearance Change - PS4, Xbox - Solo	Invisible Arms Glitch - PS4, Xbox, PC - Solo	T-Shirt Over Bodysuit Glitch - PS4, Xbox, PC - Solo
RP Glitch - PS4, Xbox - Solo	Make It Rain Action Without Losing Money - PS4, Xbox, PC - Solo	Up'n Atomizer In Any Car Glitch - PS4, Xbox, PC - Non-Solo
Outfits And Duffel Bag Guide - PS4, Xbox, PC	Thermal Vision In Any Vehicle Glitch - PS4, Xbox, PC - Solo	Stab City Survival Glitch - PS4, Xbox, PC - Solo
Stand Up While Driving - PS4, Xbox, PC - Solo	Alien Outfit Without The Mask - PS4, Xbox, PC - Solo	Duffel Bag Glitch - PS4, Xbox, PC - Solo
Floating Glitch - PS4, Xbox - Solo	Topless Character Glitch - PS4, Xbox - Solo	Yellow Rebreather Glitch - PS4, Xbox, PC - Non-Solo
Inside Of FIB Building Glitch - PS4, Xbox, PC - Solo	Low Poly Graphics Glitch - PS4, Xbox, PC - Solo	Off The Radar Glitch - PS4, Xbox - Solo
Save SecuroServ Outfits Glitch - PS4, Xbox - Non-Solo	Free Appearance Glitch - PS4, Xbox, PC - Solo	Outfit Glitches - PS4, Xbox - Non-Solo
Weapons In Casino Heist Glitch - PS4, Xbox, PC - Solo	Any Color Helmet Glitch - PS4, Xbox, PC - Solo	Frozen Action Glitch - PS4, Xbox, PC - Solo
Powerful Sawed Off Shotgun Glitch - PS4, Xbox - Solo	Can't Fall Off Bike Glitch - PS4, Xbox, PC - Non-Solo	Yellow Rebreather Glitch - PS4, Xbox - Solo
"IKEA" Duffel Bag Glitch - PS4, Xbox - Solo	Transfer Duffle Bag - PS4, Xbox, PC - Solo	Topless Glitch - PS4, Xbox, PC - Solo
Easy Duffel Bag Glitch - PS4 - Solo	CEO Outfits in Casino Heist - PS4, Xbox, PC - Solo	Easy Wall Breach Glitch - PS4, Xbox, PC - Solo
Duffel Bag Glitch - PS4, Xbox, PC - Solo	Cop Outfit Glitch - PS4, Xbox, PC - Non-Solo

​
Miscellaneous:

Out Of Map Glitch - All platforms. - Solo	LS Water to Gruppe Sechs Glitch - PS4, Xbox, PC - Solo	Inside The FIB Building Glitch - PS4, Xbox, PC - Solo
KERS On The PR4 Glitch - PS4, Xbox, PC - Non-Solo	Hydra Speed Glitch - PS4, Xbox, PC - Solo	Same Approach Glitch - PS4, Xbox, PC - Solo
Wall Breach Glitch - PS4, Xbox, PC - Solo	Tank Launch Glitch - PS4, Xbox, PC - Non-Solo	Guns In Casino - PS4, Xbox, PC - Solo
Wallbreach Glitch - PS4, Xbox, PC - Solo	Opp MK II Unlimited Smoke Glitch - PS4, Xbox, PC - Solo	TP To Aircraft - PS4, Xbox, PC - Solo
Tuning From RC to Car Glitch - PS4, Xbox - Solo	Trailer Dupe Glitch - PS4, Xbox, PC - Non-Solo	Name Any Vehicle Glitch - PS4, Xbox, PC - Solo
Weapons During Casino Heist - PS4, Xbox, PC - Solo	Matte With Pearlescent Glitch - PS4, Xbox, PC - Solo - {Deleted}	Own Guns During Motor Wars - PS4. Xbox, PC - Solo
Skip Heist Setups Glitch - PS4, Xbox - Solo	Corrupted Save Glitch - PS4, Xbox, PC - Solo	Fun Launch Glitch - PS4, Xbox, PC - Non-Solo
Teleport Glitch - PS4, Xbox - Solo	Casino Heist Free Optional Preps Glitch - PS4, Xbox, PC - Solo	Dead Body BMX Glitch - PS4, Xbox, PC - Solo Very Useful :)
Guide To Becoming A Dupe God	Out of Map Glitch - PS4, Xbox, PC - Solo	Matte Pearlescent Glitch For Planes - PS4, Xbox, PC - Solo
Revolver Spam Glitch - PS4, Xbox - Solo	Atomizer In Turreted Vehicle Glitch - PS4, Xbox, PC - Solo	Atomizer In Jobs Glitch - PS4, Xbox, PC - Solo
Atomizer In Jobs Glitch - PS4, Xbox, PC - Solo	Solo Cargo Sale - PC, PS4, Xbox - Solo	3 Person Merge Glitch - PS4, Xbox, PC - Non-Solo
Get Noose Outfit As Exit Disguise - PS4, Xbox, PC - Non-Solo	Vigilante Teleportation Glitch - PS4, Xbox, PC - Solo	Store Terrorbyte In Any Garage - PS4, Xbox - Non-Solo
Solo Public Session With AHK - PC - Solo	All Vault Layout Plan - PS4, Xbox, PC - Non-Solo	Friendly Headhunter Glitch - PS4, Xbox, PC - Solo
Car To Car Merge Glitch - PS4 - Solo	Re-Roll Vault Content - PS4, Xbox	No Kick Glitch - PS4, Xbox, PC - Solo
Store BMX In Car Slot - PS4, Xbox, PC - Solo	Flame Shooting Op Mk 2 - PS4, Xbox, PC - Solo	Lucky Wheel Glitch - PC - Solo
Picard Manoeuvre - PS4, Xbox, PC - Solo	Kinda Bypass Sell Limit - PS4, Xbox, PC - Solo	Free Special Weapons - PS4 - Non-Solo
Bunker Research Glitch - PS4, Xbox, PC - Solo	Frozen Bunker Timer Glitch - PS4, Xbox - Solo	Solo God Mode Arena Glitch - PS4, Xbox, PC - Solo
GCTF Glitch - PS4, Xbox - Non-Solo

———————————————————————
Some Helpful Tips About This Subreddit:
• Please read the rules before you post.
• Please stay civilised, and do not be rude towards others.
• Please do not comment stupid things such as “I didn’t use this glitch”. Seriously, what’s the point?
• Please do NOT post gamer tags anywhere on this subreddit. If you need to tell someone, just PM the person.
• If you see anyone breaking rules, make sure to report the post so we can get on it ASAP!
• If you’re desperate to ask a question, just ask on the weekly questions thread.
• We also have a chat which is quite helpful, and you can ask questions there and get a response.
• There is a very helpful scammer list for B2B Bogdan by YoGamer1044, make sure to check it out here before hosting one for someone.
———————————————————————
Have a Question about a Glitch?:
Ask the poster of the glitch inside the post, rather than this main page. People there created it, found it, or at the very least have been using it recently, and are far more likely to give you the correct answer.
———————————————————————
Have a Glitch That Isn't Linked Here?:
Make/Link a post and send me a PM and I will put the post here. (We appreciate your contribution!)
———————————————————————
| Need any help? Message the mod team. |

Good Evening,
I live in Michigan where online casinos just became legal and now there are a whole host of online casinos offering promos to lure you in.
I have a specific question about this promo https://mi.wynnbet.com/promotion.shtml?promoid=new-user-100-deposit-match-bonus-up-to-1000

• The wagering requirement of 10x (ten times) the deposit + bonus must be met to convert the bonus funds or bonus winnings to cash. Only wagers on Slot games are applied toward the wagering requirement.

So just to make sure I am understanding this correctly, if I deposit $1000 & am granted a $1000 deposit match, I have to play $10,000 to withdraw any of the promo. (I understand I am not including the free games winning in this equation)
If that is correct, my questions are

1. If im up anytime above the $2000 (Initial deposit + Match) say $2500 can I withdraw the $500 winnings?
2. If I burn through all of the initial $2000 (Initial deposit + Match) and then deposit more money, will i essentially start from scratch and my new deposit and winnings can be withdrawn from at any time?
3. How do Online Casinos put the deposit match or bonus with the original deposit? Say you have that $2000 (Initial deposit + Match) and you lose down to $1250 and you would like to withdraw, can you only withdraw $250 because you haven't met the wagering requirements?

Thanks for all the help as this is new to me and all Michiganders!

hat’s happening on Wall Street?
Investors have been rushing into the nearly bankrupt strip mall video game retailer GameStop faster than shoppers hoping to score a PlayStation5 at a Black Friday door-crashers sale. Suddenly, the company is valued more than big box tech behemoth Best Buy. Its shares are trading at a volume surpassing even the biggest stock of them all, Apple.
If you think it’s because GameStop suddenly re-invented the video game wheel, the answer is no. In fact, other than the hiring of a new CEO, not much at the company has changed since last year when a share of GameStop stock could be had for as little as $5. But at their peak (as of this writing) on the morning of Thursday, Jan. 28, the company’s shares hit $500 in premarket trading. Cumulatively, GameStop stock has skyrocketed 1,200% in the recent period.
With game enthusiasts embracing streaming subscriptions and turning away from plastic cartridges, many analysts have been predicting GameStop will soon be going the way of Blockbuster—another modern incarnation of video killing the radio star. So if GameStop did little, if anything, to turn around its sagging fortunes, why are its shares in such high demand?
The only thing that changed is that Wall Street powerhouse hedge funds and short-sellers have lost their monopoly on gaming the stock market casino.
The meteoric rise in GameStop shares—and to a lesser extent those of other troubled companies, like Bed Bath & Beyond, Blackberry, movie house AMC, and even candy maker Tootsie Roll—is being driven by the actions of a group of what the Wall Street professionals call dangerous amateurs.
Coordinating with each other on a section of the online platform Reddit called WallStreetBets, a huge number of relatively small-time investors (around 2.2 million of them by the most recent count) have teamed up to take on the big guys in a battle that has all the trappings of a Robin Hood tale.
The “short” in a nutshell
To understand the game plan of the WallStreetBets crowd, it’s necessary to know some of the lingo of Wall Street gambling—especially the concept of the “short.”
A short is when an investor essentially “borrows” a company’s stock from a broker. The investor then takes that borrowed stock and sells it on the market. The hope of the “short seller” is that the value of that company’s stock will drop before they are due to return their borrowed shares, allowing them to re-buy the stock at a cheaper price and return it to the broker—pocketing the difference as a profit.
In essence, they are placing a bet against a company’s future. They believe the company is worth less than the market is valuing it at, and when that reality sets in among others, then they will get to cash in on their foresight.
As an example, a short-seller may borrow a share of Company A and sell it for the current market price of $100. They do so because they believe Company A isn’t really worth $100 per share and eventually the price will drop. If they are right, and the price of Company A shares sink to $60, then the short-seller will re-buy the share at the new price and return it to the broker (called “covering the short”). The $40 difference is their profit.
If they are wrong, however, and Company A’s shares go up, then they will lose out on their bad bet. Let’s say that Company A shares go from $100 to $120. When the short-seller’s stock loan comes due, they have to buy a share at whatever the current price is and return it to the broker. Their loss in this case would be $20. But what if the price of Company A shares go even higher, to $150, $200, or $500?
In a regular stock transaction, when a person actually buys a share (as opposed to borrowing it like a short-seller does), their potential loss is capped at whatever they paid. You can’t lose more than you put in. But for a short-seller, the potential loss is actually endless. When the due date comes for their borrowed shares, they have to pay whatever it takes to cover their short.
Gambling against GameStop
Now, back to the real world and the GameStop situation.
A number of weeks ago, the “amateur” investors on WallStreetBets started focusing their attention on the huge hedge funds with massive short bets against GameStop. They targeted outfits like Melvin Capital and Citron Research that had taken short positions in GameStop and then spent months talking about how bad the company was (an intentional effort to drive down its share price).
The gambling against GameStop had gotten so extreme that there were over 71 million borrowed short shares out there, even though the company has only 69 million shares—short-sellers were “borrowing” stock that didn’t even exist! These Wall Street titans became the villains for the Reddit Robin Hoods. (Appropriately, Robinhood is the name of a popular trading app used by many of the so-called untraditional investors.)
WallStreetBets members fantasized about how great it would be to make these short-sellers scream by driving up the price of GameStop. Some believed that GameStop really had a chance to turn around and was being unfairly punished by the short-sellers; for others, it was simply the joy that would come from sticking it to the hedge funds.
They’d done it before, on a smaller scale, with other shorted companies. If they got together again and acted in unison with their dollars, they could inflict some real pain on Melvin and Citron.
Putting the squeeze on the short sellers
Within days, WallStreetBets (and others who followed in their wake) engineered what’s called a “short squeeze”—an escalation of a company’s share price that forces short-sellers to buy at an inflated value. Panicked traders at Melvin, Citron, and other big short-sellers reacted exactly as predicted: They scrambled to cover their shorts, knowing that the longer they waited, the more they risked losing.
By the middle of this week, the short-sellers were surrendering. Citron’s managing partner Andrew Left admitted the company had to cover its short Tuesday afternoon at “a loss of 100%.” As for Melvin Capital, it was only kept afloat by an injection of $2.75 billion in funds from other asset management firms. Data from financial analytics firm S3 Partners shows that GameStop short-sellers have collectively lost more than $5 billion in the month of January alone.
The masters of finance on Wall Street are, to put it mildly, pissed. This is a crowd that has enjoyed pretty much unrestrained power for decades, dodging the efforts of governments and activists to rein them in. To be outmaneuvered by a bunch of millennials on the internet has them seeing red—both literally and metaphorically.
Traditional stock market analysts and financial commentators are musing about whether the coordinated moves of WallStreetBets are illegal. Many are urging the Securities and Exchange Commission to chase down what they’re characterizing as a “pump and dump” scheme. They are crying out for help from the same regulators they themselves spend all their time avoiding and undermining.
These are the guys who brought us the financial crisis of 2008-09 and the Great Recession. They’re the ones who have made billions of dollars off the pandemic in the past year while the rest of the country lost their jobs and homes—or died from coronavirus. Whatever losses they’re experiencing now are certainly well-deserved.
That makes it very tempting to cheer on the WallStreetBets crusaders. Richard Smith, a market behavior analyst at the Foundation for the Study of Cycles, described their role to Markets Insider: “You have these media-driven platforms where the media isn’t controlled by the institutions in the way that it has historically been.” He characterized this as “a sign that the institutions are losing control.”
Heroes or same-old capitalists?
But WallStreetBets is not necessarily a den of folk heroes or investors driven by some social conscience. Some are saying they plan to make charitable donations with some of their winnings, but other forum members are simply bragging about all the money they’ve made from outsmarting the old Wall Street. One of the key ringleaders of the short squeeze effort, someone who goes by the username DeepFuckValue, claims to have turned a $50,000 GameStop investment into $20 million amidst the chaos.
Undoubtedly some of the more talented among the WallStreetBets crowd will be recruited to join the ranks of top firms—rebels eventually co-opted by the system. Others will get too caught up in the euphoria and eventually lose all their money when the bubble bursts. And let’s face it, this is capitalism—the bubble always bursts.
It’s also necessary to remember that the most powerful segments of finance capital usually find a way to shift the price for their gambling onto the rest of society by one means or another (remember the bailouts for the “too big to fail” banks?). It would be delusional to think that Wall Street isn’t making moves to offload its losses and go on the offensive.
The empire of high finance is already striking back. By Wednesday evening, the WallStreetBets forum on Reddit had gone dark, for reasons not yet clear. The WallStreetBets server on Discord was shut down. On Thursday morning, brokers started implementing restrictions on GameStop trades, raising expectations that more action will be taken by the establishment to regain control.
Taking note of the fact that trades in GameStop, AMC, and other shorted stocks were now blocked on the Robinhood platform, one Twitter user observed, appropriately, “The free market is only free until rich people lose money.”
Wall Street’s control over our society won’t be meaningfully challenged by simply replacing one group of gamblers with a different, younger group of gamblers. It wasn’t the robbers like Bonnie and Clyde that beat the banks and fought back against the Great Depression in the 1930s—it was the coalition of labor, African-American, and other people’s movements that won the New Deal and put capitalism on notice.
Now, as then, only organized political struggle by the working class and democratic movements has the potential to upend the power of finance capital for good and allow us to collectively decide our future.
So we can enjoy a laugh at the misfortunes of the hedge funds and short-sellers, but then we have to keep organizing.
Socialist_

The first thing you have to know about is that it is not as good as other casinos in terms of customer service. This online casino promises a great time for all the players, but in reality, they seem like they are not up to par when it comes to delivering on their promises. What is more frustrating is that most of the players are left frustrated because they have spent their hard-earned money to play these slot games and they feel like nothing is happening. Before you throw your money away with another casino online, make sure that you have a list of things that you should look for in an online gambling site such as osg777 .
​
One of the things that you need to look out for in an online casino is a slot machine room that is clean and well maintained. It is no use betting your money on something when the gambling room is dirty and disorderly. In fact, the worse thing that you can do is to bet your money on any casino when the staff is not trustworthy. So, you should always ensure that you are playing with real people when you play osg777 slots because you would never know whether you are playing with people who are genuine or whether they are just gamblers who are looking for easy money.
​
Another thing that you should consider before you play any game on the osg777 online casino is the bonuses and the promotions that are offered by the site. If you have spent some time on researching the internet, then you would notice that there are hundreds of online slot games that offer players free money when they play their games. However, the promotional offers vary from one site to another. Some offer players cash while others offer bonuses and vouchers.
​
If you want to find out whether the site that you are planning to play your online slot games at has a good reputation when it comes to providing bonuses and coupons, then you should start by going through the casino's privacy policy. You should also try to find out how many wins the casino has received. The last thing that you should do before you start playing on the osg777 online casino game is to read through the terms and conditions that are mentioned on the home page of the site. You should look for the details that mention the bonus and discount points that you can receive. This will ensure that you do not end up spending more than you are planning to and that you can play for as long as you want. Once you have read through all the information on the home page, you should then go ahead and click the play now button.
​
One thing that you should keep in mind before you start playing on the osg777 online slot games is that you should never click the back button even if you are already logged-in on the casino's website. This is because there are many people who do not read through the information that they read on the casino's home page before they click back button. Once you have started playing on the osg777 online casino, you should then go ahead and hit the play for bonus feature to start earning money from the game. There are a lot of players who tend to forget about this feature and end up waiting for the bonus ticks to be released every five seconds.
​
When playing on the osg777 online casino goers should be sure to stick to their plan and not go for the casinos random number generator or some other gimmick which may be designed to make you lose your money. One of the greatest tips that a gambler can follow is to stick to the plan. There are a lot of players who when they play on the slot machines, suddenly change their mind and start gambling for other reasons other than the original reason why they have come to the casino. If you keep doing this, you will never be able to enjoy the benefits that can be offered by playing on any of the online slot machines.

If you are new to online casino then I suggest that you should go for iOffer I Dough, otherwise known as IDNPoker. The website is very user-friendly, has an interface that is pleasant to use, and has a great jackpot which updates in real time. Eight deposit choices include US dollars. Is iOffer I Do the real deal and why is it the second largest online poker website in the world? This article will try to answer these questions and more. Read on for more information.iOffer is a top poker website which is famous all over the world because of the poker tournaments which it hosts regularly. The poker rooms on the website are mainly based in Europe (where most of the international players come from), but some rooms also have players from Asian countries like Singapore, Malaysia and China. Players from Asia seem to be quite happy with iOffer, as they receive great tips from successful players about their moves. Most importantly, they are able to win real cash/ prize money and thus can earn enough to live on for a while (or at least make enough to cover living expenses).Another unique feature of iOffer I Dough is that it allows its players to participate in live chat with other members of the website. Players can chat about everything from tips to strategies, tournaments and everything in between - something which most online poker sites do not allow. The live chat also gives those players who join iOffer a chance to meet other poker players from different parts of the globe and thus build better contacts and relationships.The most important thing about idNPoker and one of the reasons why it is considered to be the best option by many players is the progressive jackpots it offers. If you want to play online poker in Asia, then you should definitely try out the progressive jackpots offered by iOffer. Here is a brief rundown of what these promotions entail:- If you are a beginner or if you want to improve your gaming skills, then iOffer can surely help you. This poker network offers a variety of games and prizes especially designed for new players and for players who do not yet have the experience with online poker. All the games supported by iOffer are completely free to play. - The website also offers a variety of free games that are suitable for players from all over Asia.- If you are on the lookout for a real deal and not just some hype about the progressive jackpots, then you should definitely check out the Daily Double option. Daily Double is a multi-table tournament that offers players the opportunity to win real cash. This is a lower end option compared to the other options of iOffer like the VIP and Single options. You can earn up to $10 weekly just by playing some of the most popular Rng games like iOffer Blackjack and Ultimate Bet.