Using E- mini YM and ES purely as Gambling entertainement for friends and family.

Discussion in 'Trading' started by jimmygold, Mar 9, 2007.

  1. I had a couple of buddies who came by the crib the other night. I was showing them my latest endeavour of trading the emini futures. I actually took some Live trades that night in front of them so they could see what it is all about.

    Needless, to say they were so intrigued. They especially were blown away how quick PnL could add up (and lose) in such a short amount of time with such little money. They just kept looking at the movement as they were mesmerized. And we even had a Beer or two as we watched it. Acting like they do at the horsetack with all the hooting and hollering that entails. :cool:

    Both are big time into Casino gambling (Blackjack, Roulete, slots) and horse race betting as well as sport wagering in football and basketball.

    Well, it really surprised me when they asked if I would think about somehow incorporating Emini trading into a Gambling vehicle which they could participate in and make some money as well as hanging out with their buddies and have a few beers. (Much like they do at Casinos)

    Now they are dead serious about this. And are planing to bring over three other buddies next week to watch some emini action. They have asked me if I would be willing to take the other side of the bet (trade) much like a bookie.

    They would like to get alot of people together on a Sunday or Monday Nite
    and have some of their lady friends and have a party centered around "emini Gambling". Thats what they are referring to it as.

    Anyway, I am totally serious about this. DEad serious. And am wondering if others have thought about using Futures trading as a gambling vehcle for people to wager bets purely for entertainment purposes ?? Like a Casino.

    Maybe I could eventually have some system or plan set up where these friends and other people would come over to the crib. Serve some liquor and beer with some pizza and wings. And put my platform on Simulator Mode and just let them start to take trades (long or short) and wagering bets and I would take the other side like a bookie.
    And everyone would be cheering on like a ballgame, rooting for the movement of the ES in the direction that they bet on.

    And the end of night their loss would be my profit which they pay me when they leave. And their Profit would be payed to them by me when they leave.

    The potential income I could make would be pretty damn good since they dont care about having a system. All they want is excitement and fun. :D

    What do you all think ??

  2. rosy2


    the problem is that blindly gambling on the markets is boring relative to gambling on sports or horses. with sports or a casino you go to an enviroment that is exciting; the markets are just numbers.
  3. My two buddies loved it. We had my large Monitor out on the deck overlookig the canyon. And we actually got in the hottub right next to it while we were watching it. They loved it and want to wager bets on movement.
    Boring ?? I dont know you tell me. It seems like a potential demand there if you have the right atmosphere and setting !!

    Just look at Slots. Boring as hell. But in the right atmosphere and the potential of making money, well it lures millions of people to them each year.
  4. nkhoi

    nkhoi Moderator

    have you check out trade sports site look like there there is active betting on DOW during market hour but no ES tho.

    they offer betting on horse, nba and weather too, look like just what you need.
  5. No I hadnt
  6. The financials are now traded on intrade, split off from tradesports to try to get aound us banking laws regarding wagering. Same thing, different name.
  7. Get a Playstation with Madden 2007 and have the computer play itself. You could set point spreads, do prop bets, and everything else. I think that would be more interesting than watching candles on the screen...
  8. nkhoi

    nkhoi Moderator

    I think they want to bet on who is father of Anna child.
  9. What most people dont realize that newer traders are basically gambling. We have a person who is in our room who doesn't even use charts. He's been trading for 3 months and refuses to. I'd rather gamble on poker, and get my free drinks and leave my market decisions for the daylight hours.

  10. Pekelo


    They should bet against each other. This way it is a zero sum game among friends, just like a friendly poker.

    Otherwise there are sites mostly from the UK where you can bet directionally on the markets. Instead of spreads you pay by odds...
    #10     Mar 9, 2007