Your Watch and Poker

[statsman]

Have you ever, in a poker game, taken your watch off and put it in the middle of the pot? How did that go down? Know anybody who has?

I haven’t, but I have my dad’s watch, which he had to hand over as collateral to another soldier until he was able to get the funds to pay his loss from a lost hand. Frankly, it makes me treasure the watch more.

[schoolboy]

Wow

That’s kind of scary but at least he got it back!

I’m not a big poker player but I have joked about that before haha

[WRISTROLEX]

Not exactly like you describe, but I once knew a degenerate gambler that would take his weekly 3k paycheck and run down to the casino and dump it into the slots...When the money ran out, he'd invariably trek over to the nearest pawn shop and hock his Rolex. Then of course proceed to lose this cash too. With his next check he'd buy the watch back, then rinse and repeat....A shame IMO...

[statsman]

Originally Posted by WRISTROLEX

Not exactly like you describe, but I once knew a degenerate gambler that would take his weekly 3k paycheck and run down to the casino and dump it into the slots...When the money ran out, he'd invariably trek over to the nearest pawn shop and hock his Rolex. Then of course proceed to lose this cash too. With his next check he'd buy the watch back, then rinse and repeat....A shame IMO...

Not exactly the baller move I was imagining

[Blansky]

I'm thinking this is filed more under the gambling disease section, which is kind of sad.

[Knappo 1307]

Originally Posted by statsman

Not exactly the baller move I was imagining

If you have to cough up your watch while gambling, that isn't exactly a "baller" move. That's a chump move, and you didn't really have the money to be gambling in the first place. IMO

[Pantheon]

I know a grey dealer who hangs out at casinos buying watches from crazy gamblers. Some pieces he was able to pick up at 20-25% of MSRP. Some of these guys aren't rich but there are some rich people who do it too. They get caught up in the heat of the moment and drop their 50k-100k watches so they don't have to miss the next round.

[Blansky]

Originally Posted by Pantheon

I know a grey dealer who hangs out at casinos buying watches from crazy gamblers. Some pieces he was able to pick up at 25% of msrp

I'd think more like pennies on the dollar.

25% off seems like nothing, from a desperate gambler.

[Pantheon]

Originally Posted by Blansky

I'd think more like pennies on the dollar.

25% off seems like nothing, from a desperate gambler.

Sometimes they go as low as 10% from what I've been told but that's a rarity or its usually an older piece or is in questionable condition. He has been able to grab pieces that were practically new off people who literally just bought it at the casino AD. He is also a point broker so he buys and sells casino points because the shopping stores in the casinos allows them to use their casino card loyalty points to buy stuff so he buy points off gamblers and sell it to shoppers for a profit and the shoppers technically get a discount on their purchases.

[schoolboy]

Originally Posted by Pantheon

I know a grey dealer who hangs out at casinos buying watches from crazy gamblers. Some pieces he was able to pick up at 20-25% of MSRP. Some of these guys aren't rich but there are some rich people who do it too. They get caught up in the heat of the moment and drop their 50k-100k watches so they don't have to miss the next round.

Dang that is smart.

Does this guy carry a loupe with him to make sure he doesn’t buy a really good fake?

[Pantheon]

Originally Posted by schoolboy

Dang that is smart.

Does this guy carry a loupe with him to make sure he doesn’t buy a really good fake?

not too sure on his verification process. I do know he is in good terms with casino managements and he has "enforcers" since he deals with so much cash. He just wholesales the watches to other grey dealers for a good profit he doesnt have much interest in selling directly to consumers since he does rapid fire transactions and don't have the patience for that. The guy helps the casinos make a lot of money I don't want to find out what happens if I sell him a fake and he finds out

[Pantheon]

Originally Posted by Blansky

I'd think more like pennies on the dollar.

25% off seems like nothing, from a desperate gambler.

I just realized you said 25% off. I meant 25% of MSRP so that's a 75% discount

[Knappo 1307]

Originally Posted by Pantheon

I know a grey dealer who hangs out at casinos buying watches from crazy gamblers. Some pieces he was able to pick up at 20-25% of MSRP. Some of these guys aren't rich but there are some rich people who do it too. They get caught up in the heat of the moment and drop their 50k-100k watches so they don't have to miss the next round.

How does it work on his end? Does he just hover around? Does he have a office in the casino? Do employees bring the person to him? Not saying I don't believe it, but something is not passing the sniff test. I feel if the casino knows about him, that would not be very favorable for the AD's in the casino? Again, just wondering not saying it's not true.

[Pantheon]

Originally Posted by Knappo 1307

How does it work on his end? Does he just hover around? Does he have a office in the casino? Do employees bring the person to him? Not saying I don't believe it, but something is not passing the sniff test.

He is mainly a points broker first and a watch/jewelry broker second. I don't know all of his operations secrets unfortunately. I don't spend a lot of time at casinos I only found out about him because my parents used to be loan sharks to gamblers. I was just hoping to see if I can score a few deals but he said he never knows what kind of jewelry/watch pieces that come so its hard for me to make a request

Also this is in Macau too. Throwing down watches and jewelry is not an extreme. I think over there you can even throw down houses as collateral but don't know how that works. Even more extreme I've heard of people gambling their wives and kids away.

[superdog]

Originally Posted by Knappo 1307

If you have to cough up your watch while gambling, that isn't exactly a "baller" move. That's a chump move, and you didn't really have the money to be gambling in the first place. IMO

My exact thoughts.

[GB-man]

I can understand your dads story hanging around a barracks playing cards but in a position where you are not overseas working for minimal pay I cannot imagine having to put up my watch. Would have to be part of a bluff or scam trying to redirect attention.

[Knappo 1307]

Originally Posted by Pantheon

He is mainly a points broker first and a watch/jewelry broker second. I don't know all of his operations secrets unfortunately. I don't spend a lot of time at casinos I only found out about him because my parents used to be loan sharks to gamblers. I was just hoping to see if I can score a few deals but he said he never knows what kind of jewelry/watch pieces that come so its hard for me to make a request

Also this is in Macau too. Throwing down watches and jewelry is not an extreme. I think over there you can even throw down houses as collateral but don't know how that works. Even more extreme I've heard of people gambling their wives and kids away.

Interesting, thanks.

[schoolboy]

Originally Posted by Pantheon

not too sure on his verification process. I do know he is in good terms with casino managements and he has "enforcers" since he deals with so much cash. He just wholesales the watches to other grey dealers for a good profit he doesnt have much interest in selling directly to consumers since he does rapid fire transactions and don't have the patience for that. The guy helps the casinos make a lot of money I don't want to find out what happens if I sell him a fake and he finds out

That’s crazy. Smart too

[schoolboy]

Originally Posted by Pantheon

He is mainly a points broker first and a watch/jewelry broker second. I don't know all of his operations secrets unfortunately. I don't spend a lot of time at casinos I only found out about him because my parents used to be loan sharks to gamblers. I was just hoping to see if I can score a few deals but he said he never knows what kind of jewelry/watch pieces that come so its hard for me to make a request

Also this is in Macau too. Throwing down watches and jewelry is not an extreme. I think over there you can even throw down houses as collateral but don't know how that works. Even more extreme I've heard of people gambling their wives and kids away.

Sad world :(

[Pantheon]

Originally Posted by schoolboy

Sad world :(

Yeah in the world of asian gambling things get a little crazy. Especially the Chinese. Anything goes with us lol. I think the Chinese are genetically engineered to be gambling addicts. I'm one of the few mutants that didn't get that gene

I know someone whose wife got a finger chopped off by a loan shark because he couldn't repay debt and that's probably one of the lesser punishments. That fixed up his gambling problem real quick for a couple of years.... and he was right back at it although a little bit more responsible now.

[Ballzzz]

Never in a casino but in private games I have witnessed all types of jewelry(watches included) & vehicles wagered.
It happens

[Blansky]

Originally Posted by Pantheon

I just realized you said 25% off. I meant 25% of MSRP so that's a 75% discount

Got it. When math comes in my brain shuts down.

[schoolboy]

Originally Posted by Pantheon

Yeah in the world of asian gambling things get a little crazy. Especially the Chinese. Anything goes with us lol. I think the Chinese are genetically engineered to be gambling addicts. I'm one of the few mutants that didn't get that gene

I know someone whose wife got a finger chopped off by a loan shark because he couldn't repay debt and that's probably one of the lesser punishments. That fixed up his gambling problem real quick for a couple of years.... and he was right back at it although a little bit more responsible now.

Dang haha

Here in Texas my friends and I play card every now and then but nobody is serious about it