TFSA instead of Casino

[yababy1]

Started gambling more than usual this year, in casino, on line and betting sports, won some sure, lost a lot more. Realized I had an issue, it was consuming me. Watched a few vids on the ways casinos suck you in and even our gov't like you to gamble with the revenue they receive. Apparently more casino machines in Canada than ATM's, all geared to suck you dry eventually.

So after some soul searching I took action. I have a TFSA, lots of contribution room so every time I get the urge to gamble, I transfer the amount I would have wagered (which is less as I always went to the ATM in the casino if I was down) into my TFSA. At first I actually made three transfers in a day

Upside, last 2 months of doing this I have put over $2500 into TFSA, all a win in my mind, still there and making at least 3% interest even in savings, all tax free

Fuck you casinos, FUCK YOU gov't for allowing and enabling people to ruin their lives so you can make tax money

If anyone else is in ths boat, try this alternative and good luck man, it is hard at first but as you see the money grow, it gets easier.

Bless

Footnote, did go to Woodbine last night,, took only $50. won $125, sent it all to TFSA today, a slip I guess but acknowledging it to all

 

[xix]

Gamblers Anonymous

www.gamblersanonymous.org

 

[HungSowel]

Tangerine is offering 6% GICS for TFSA.

 

[1kevin]

So you are going to try your luck at the Wall Street Casino instead?

 

[tongs]

Good that you realized that it was problematic for you. I had a gaming problem several years ago as well, I was able to set rules for myself that I never broke. I was able to gradually stop.

I t was easier because I preferred the Niagara casinos and when ownership changed over it completely lost the vibe for me.

 

[glamphotographer]

The way betting sites are advertising during sporting events they are praying on young men and they go into bankruptcy. They even have Wayne Gretzky who is a wholesome family values man telling young men to gamble and destroy their lives.

 

[glamphotographer]

Tangerine is offering 6% GICS for TFSA.

Yep for 18 months. I got $5K earning %6.

 

[eddie kerr]

Started gambling more than usual this year, in casino, on line and betting sports, won some sure, lost a lot more. Realized I had an issue, it was consuming me. Watched a few vids on the ways casinos suck you in and even our gov't like you to gamble with the revenue they receive. Apparently more casino machines in Canada than ATM's, all geared to suck you dry eventually.

So after some soul searching I took action. I have a TFSA, lots of contribution room so every time I get the urge to gamble, I transfer the amount I would have wagered (which is less as I always went to the ATM in the casino if I was down) into my TFSA. At first I actually made three transfers in a day

Upside, last 2 months of doing this I have put over $2500 into TFSA, all a win in my mind, still there and making at least 3% interest even in savings, all tax free

Fuck you casinos, FUCK YOU gov't for allowing and enabling people to ruin their lives so you can make tax money

If anyone else is in ths boat, try this alternative and good luck man, it is hard at first but as you see the money grow, it gets easier.

Bless

Footnote, did go to Woodbine last night,, took only $50. won $125, sent it all to TFSA today, a slip I guess but acknowledging it to all

As far as I am concerned, the only type of online gambling where you have a decent chance of winning is poker. I have done well over the last few years playing low buy is no limit hold em tournaments but you still need to have the knowledge of percentage odds, positional play and the types of players you are playing against. Do not waste your time playing casino games and slots. If you gamble on sports you must study everything about the teams such as injuries and past performances.

 

[hard dick tony]

Started gambling more than usual this year, in casino, on line and betting sports, won some sure, lost a lot more. Realized I had an issue, it was consuming me. Watched a few vids on the ways casinos suck you in and even our gov't like you to gamble with the revenue they receive. Apparently more casino machines in Canada than ATM's, all geared to suck you dry eventually.

So after some soul searching I took action. I have a TFSA, lots of contribution room so every time I get the urge to gamble, I transfer the amount I would have wagered (which is less as I always went to the ATM in the casino if I was down) into my TFSA. At first I actually made three transfers in a day

Upside, last 2 months of doing this I have put over $2500 into TFSA, all a win in my mind, still there and making at least 3% interest even in savings, all tax free

Fuck you casinos, FUCK YOU gov't for allowing and enabling people to ruin their lives so you can make tax money

If anyone else is in ths boat, try this alternative and good luck man, it is hard at first but as you see the money grow, it gets easier.

Bless

Footnote, did go to Woodbine last night,, took only $50. won $125, sent it all to TFSA today, a slip I guess but acknowledging it to all

Well done yababy1, you have your priorities and focus where it should be. You might even be safe to go into Woodbine time to time now as you have a whole new appreciation of risk/reward of the extra dollars you have each month and what to do with them.

What are you holding in your TFSA?

 

[internationalboi]

Tangerine is offering 6% GICS for TFSA.

That is an incredible rafe. Is there a limit that you can put in.

 

[HungSowel]

That is an incredible rafe. Is there a limit that you can put in.

The offer expired about 2 weeks ago, The current GIC rate is 5.75% for 1.5 years at Tangerine, the limit for the GIC offer was 1 million I think.

I got a 6% GIC rate for 1 year and 5.85% for 2 years from RBC this week, I talked to their financial advisor and she was able to offer me those rates, the advertised RBC rate is something like 5.2% for a year I think.

 

[eddie kerr]

Started gambling more than usual this year, in casino, on line and betting sports, won some sure, lost a lot more. Realized I had an issue, it was consuming me. Watched a few vids on the ways casinos suck you in and even our gov't like you to gamble with the revenue they receive. Apparently more casino machines in Canada than ATM's, all geared to suck you dry eventually.

So after some soul searching I took action. I have a TFSA, lots of contribution room so every time I get the urge to gamble, I transfer the amount I would have wagered (which is less as I always went to the ATM in the casino if I was down) into my TFSA. At first I actually made three transfers in a day

Upside, last 2 months of doing this I have put over $2500 into TFSA, all a win in my mind, still there and making at least 3% interest even in savings, all tax free

Fuck you casinos, FUCK YOU gov't for allowing and enabling people to ruin their lives so you can make tax money

If anyone else is in ths boat, try this alternative and good luck man, it is hard at first but as you see the money grow, it gets easier.

Bless

Footnote, did go to Woodbine last night,, took only $50. won $125, sent it all to TFSA today, a slip I guess but acknowledging it to all

I so agree with you. Problem is their advertising is conning young people to gamble on these ridiculous casino games especially olg.ca giving the impression that if you play these games everybody wins. They should be banned from TV ads also

 

[Ponderling]

I don't frequent the gambling sites, but from the start of TFSA's I put the maximum in every year.



Bonds, GICs, reits and foreign market holdings in the rrsp account.

Canadian dividend payers in the non registered account.

I invest in stocks that pay little or no dividends in my tfsa account.
That is often enough gambling for me.

 

[explorerzip]

That is an incredible rafe. Is there a limit that you can put in.

It's amazing that GIC rates are higher than some dividend stocks and without the volatility. On important thing to keep in mind is that a GIC is only insured up to $100 K if the financial institution should fail. That's unlikely to happen, but I take precautions by buying GIC's from different financial institutions and only up to $100K

The 2023 maximum you can put in your TFSA is $6500. You must login to the CRA web-site to see your past contributions because it's not shown on your tax return. Be very careful that you don't over-contribute to the TFSA or RSP because there are tax consequences.

 

[Sonic Temple]

Congrats @yababy1 for recognizing the issue and doing something about it. Continued success mate and keep growing that TFSA account.

 

[Jubee]

I so agree with you. Problem is their advertising is conning young people to gamble on these ridiculous casino games especially olg.ca giving the impression that if you play these games everybody wins. They should be banned from TV ads also

Don't forget streaming sites and their streamers who gamble and "seem" to win big, but they have deep pockets.
Plus sports betting, parlay, they unleashed everything on this world in relation to gambling.
This guy has serious connections, no doubt he's wealthy and was put on Kick.com to push indirectly promote gambling.
Trigger warning - live gambling, he's live now https://kick.com/roshtein

 

[Ilovewomen80]

Yep for 18 months. I got $5K earning %6.

I did 37500 at 5 for 2 years

 

[yababy1]

Thought I would toss in an update, TFSA over 5K now, slipped a few times with casino trip but seeing savings grow is making that more infrequent

 

[ericdf11]

It's amazing that GIC rates are higher than some dividend stocks and without the volatility. On important thing to keep in mind is that a GIC is only insured up to $100 K if the financial institution should fail. That's unlikely to happen, but I take precautions by buying GIC's from different financial institutions and only up to $100K

The 2023 maximum you can put in your TFSA is $6500. You must login to the CRA web-site to see your past contributions because it's not shown on your tax return. Be very careful that you don't over-contribute to the TFSA or RSP because there are tax consequences.

I heard the max has been raised to $7000 for this year.

 

[rhuarc29]

Fuck you casinos, FUCK YOU gov't for allowing and enabling people to ruin their lives so you can make tax money

Meh, people are responsible for their own actions. Congrats on correcting yours.

I only blame the government for giving my taxpayer money to people who are in need because of their own irresponsible actions.