‘RealMoney’ Radio Recap: Know When to Hold ‘Em
Tuesday, November 15, 2005 Posted 9:11 PM GMT Cramer says some stocks are worth leaving for better entry points.
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Casino gambling information:
- The famous banker J.P. Morgan once walked out of a Monte Carlo casino because the stakes were too low? At the time, the maximum wager was 12,000 francs and Morgan wanted it increased to 20,000 francs. When the casino manager refused to increase the limit, Morgan left the casino saying "12,000 francs! I have no time to lose such ridiculous amounts."
- U.S. News and World Report did a comparison of crime rates in cities with gambling versus those that do not. The crime rates were significantly higher in the places that allowed gambling.
- Massachusetts decriminalized bingo in 1931 in an attempt to help churches and charitable organizations raise money. Bingo was legal in 11 states by the 1950s, usually only for charity purposes.
- In 1857, Prince Charles III of Monaco decided to introduce gambling to his Mediterranean principality to boost its finances.
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