"Gamblers always die broke, young man," whispered the grizzled, old casino lizard at the Blackjack table as I gathered my meager winnings.
It wasn't very nice to hear: A recent college graduate, I had just earned a small sum during my first visit to a casino. But that advice ended up being among the wisest and most foresightful I have ever heard.
Soon after I met the old man, I read comments from billionaire casino owner Steve Wynn: "The only way to win in the casino is to own one." His words still resonate with me.
I thought to myself "Money lessons come from the most unexpected places." Here was a successful casino owner and a hard-core gambler essentially giving the same advice -- don't gamble and remember that the only way to win is to own the casino. I have never had interest in casino games since. Continue reading "Don't Gamble, Own the Casino Instead"