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(Examiner)   Jack in the Box heiress and former San Diego Mayor gambles away more than $1 billion. When she dipped into her late husband's charity, things started to get messy   (examiner.com) divider line 95
    More: Sad, Jack in the Box, San Diego Mayor, Maureen O'Connor, San Diego  
•       •       •

11388 clicks; posted to Main » on 15 Feb 2013 at 8:20 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-02-15 09:26:37 AM
Clearly, gambling of all forms, should require a psychological evaluation and gambling losses tracked to the penny so we can keep the irresponsible from harming themselves and others.
 
2013-02-15 09:28:30 AM
Couldn't we just agree that it'd be best for everybody if this kind of thing never happened again?

I mean posting links from Examiner, of course.
/and buzzfeed
 
2013-02-15 09:29:22 AM
There seems to be cop math involved in this story somehow.

Also, Jack-in-the-Box is only single place I know of that is guaranteed to give my guts a thorough scrubbing, no matter what I order.
 
2013-02-15 09:30:29 AM
So I think it's safe to say that In & Out Burger Heiress > Jack in the Box Heiress.
 
2013-02-15 09:31:27 AM
cache.gawker.com

Approves!
 
2013-02-15 09:35:21 AM
Is this why JITB doesn't have the Kona coffee anymore?
Dammitsomuch.
/bitter and sleepy
 
2013-02-15 09:35:41 AM

reillan: Couldn't we just agree that it'd be best for everybody if this kind of thing never happened again?

I mean posting links from Examiner, of course.
/and buzzfeed


I think that could bring us altogether.
Raises a glass to this proposal.
 
2013-02-15 09:36:45 AM

pag1107: So I think it's safe to say that In & Out Burger Heiress > Jack in the Box Heiress.


blu.stb.s-msn.com
Can't say I disagree with you on that one.......
 
2013-02-15 09:38:30 AM

offacue: [tribkswb.files.wordpress.com image 692x384]
 Boo farking hoo you stupid coont.


Her face looks like it caught on fire and somebody put out the flames with a spatula
 
2013-02-15 09:39:08 AM

Freakjob_0: gsiofa: FTA: "The attorney added that her net loss was in the end was $13 million."

Still a lot of money, but it ain't no $1 billion.

I'm sitting her having a stroke trying to figure out how you lose 1 Billion dollars...1 BILLION!!!

/DNRTFA
//thanks for reading for me


She WON $1000 million.

But in the meantime she lost $1013 million. That is actually fairly good gambling, normally the odds are stacked more in favor of the casino than that.
 
2013-02-15 09:47:30 AM
Liberals are funny
 
2013-02-15 09:47:33 AM

xria: But in the meantime she lost $1013 million. That is actually fairly good gambling, normally the odds are stacked more in favor of the casino than that.


Video poker theoretical hold % is typically less than 1%. Some variants actually have a negative hold percentage.

http://en.wikipedia.org/wiki/Video_poker

They rely on people playing by their gut instead of the odds in order to get their money.
 
2013-02-15 10:01:00 AM

MrBallou: After losing the first couple hundred million, wouldn't the thrill kind of go flat? I'd at least want the illusion that I might win.


Better question what are you planning to win?
 
2013-02-15 10:04:40 AM
Came for a referrence with pics, ANY referrence to Lebowski...left disappointed
 
2013-02-15 10:23:03 AM

spentshells: MrBallou: After losing the first couple hundred million, wouldn't the thrill kind of go flat? I'd at least want the illusion that I might win.

Better question what are you planning to win?


In this country, you gotta make the money first. Then when you get the money, you get the power. Then when you get the power, then you get the women.
 
2013-02-15 10:25:22 AM

Sybarite: primarily on video poker machines

Damn, that seems like a lot of video poker. What's the highest stake on one of those things?


If you are doing enough action to add up to a billion (or even lose $13M), someone will cut the code* for a custom machine.

/* not as easy as it sounds.  Lots of checks and rechecks in those machines.  On the other hand, I bet there is enough demand for a "high-roller room" for comped video poker players somewhere.
// had a vague professional connection to the "gaming industry".  No wish to have any further contact.
 
2013-02-15 10:28:20 AM

Warrener: xria: But in the meantime she lost $1013 million. That is actually fairly good gambling, normally the odds are stacked more in favor of the casino than that.

Video poker theoretical hold % is typically less than 1%. Some variants actually have a negative hold percentage.

http://en.wikipedia.org/wiki/Video_poker

They rely on people playing by their gut instead of the odds in order to get their money.


Serious question, what stops someone at a VLT in a bar from using an electronic device to cheat in a way that would be forbidden at a casino?
 
2013-02-15 10:56:03 AM

karnal: Two Tacos 99 Cents!  What-a-deal!


One of my worst guilty pleasures. Love them fried tacos. Every time I visit family in Texas, I make a beeline for the closest Jack in the Box.
 
2013-02-15 10:58:52 AM

yet_another_wumpus: If you are doing enough action to add up to a billion (or even lose $13M), someone will cut the code* for a custom machine.

/* not as easy as it sounds.  Lots of checks and rechecks in those machines.  On the other hand, I bet there is enough demand for a "high-roller room" for comped video poker players somewhere.


Adding a higher denom to a slot or a poker machine is a pretty simple update. (at least until you get the prizes large enough to cross he $42 Million barrier... which comes up in Latin American markets.) And yes, there is enough demand for high wager games that pretty much everyone offers options in the $50 to $500 per play range.

Flakeloaf: Serious question, what stops someone at a VLT in a bar from using an electronic device to cheat in a way that would be forbidden at a casino?


Not sure what you're talking about.

Video poker does a shuffle between every hand, so there's no advantage to gain from card counting. If you're talking about just seeing the odds for any given play I don't think anyone would stop you, casino, truck stop or Indian trailer.

I suppose if the RNG weren't properly obfuscated you could eventually find out where you were in the sequence and start predicting, but that would take long enough that I doubt you could pull it off.
 
2013-02-15 11:02:42 AM
The math in this article makes no sense.

If I were the owner of the casino that made a shiatton of money off this old lady, I would repay the $2 mill to the charity, #1 it's the right thing to do #2 it would be great publicity #3 it would be a good CYA for the possibility of a lawsuit for allowing someone with an obvious disability to lose beyond a reasonable amount.
 
2013-02-15 11:16:25 AM

gsiofa: FTA: "The attorney added that her net loss was in the end was $13 million."

Still a lot of money, but it ain't no $1 billion.


This. That's actually a pretty good run over ten years. If she were playing other games, she'd have lost it by now. I'm sure the casino people are pissed they didn't get more of her money.
 
2013-02-15 11:22:16 AM

Kimothy: gsiofa: FTA: "The attorney added that her net loss was in the end was $13 million."

Still a lot of money, but it ain't no $1 billion.

This. That's actually a pretty good run over ten years. If she were playing other games, she'd have lost it by now. I'm sure the casino people are pissed they didn't get more of her money.


I bet they're ecstatic she didn't stop after being up 1 billion. I mean c'mon.. you win 1 BILLION dollars.. I think at that point I would've stopped and bought me my own private island stock full of hot women.
 
2013-02-15 11:27:47 AM

Warrener: yet_another_wumpus: If you are doing enough action to add up to a billion (or even lose $13M), someone will cut the code* for a custom machine.

/* not as easy as it sounds.  Lots of checks and rechecks in those machines.  On the other hand, I bet there is enough demand for a "high-roller room" for comped video poker players somewhere.

Adding a higher denom to a slot or a poker machine is a pretty simple update. (at least until you get the prizes large enough to cross he $42 Million barrier... which comes up in Latin American markets.) And yes, there is enough demand for high wager games that pretty much everyone offers options in the $50 to $500 per play range.

Flakeloaf: Serious question, what stops someone at a VLT in a bar from using an electronic device to cheat in a way that would be forbidden at a casino?

Not sure what you're talking about.

Video poker does a shuffle between every hand, so there's no advantage to gain from card counting. If you're talking about just seeing the odds for any given play I don't think anyone would stop you, casino, truck stop or Indian trailer.

I suppose if the RNG weren't properly obfuscated you could eventually find out where you were in the sequence and start predicting, but that would take long enough that I doubt you could pull it off.


I was thinking more HO/PO calculators, though from the sounds of things this woman didn't need one.
 
2013-02-15 11:31:07 AM

teylix: Kimothy: gsiofa: FTA: "The attorney added that her net loss was in the end was $13 million."

Still a lot of money, but it ain't no $1 billion.

This. That's actually a pretty good run over ten years. If she were playing other games, she'd have lost it by now. I'm sure the casino people are pissed they didn't get more of her money.

I bet they're ecstatic she didn't stop after being up 1 billion. I mean c'mon.. you win 1 BILLION dollars.. I think at that point I would've stopped and bought me my own private island stock full of hot women.


I doubt she was ever actually UP a billion dollars. It looks like she broke even most of the time.

If you bet 10,000 in a night, go up to 20,000 and lose it all, the casino counts it as betting 20,000. Just like if you bet 10,000 in a night, double up to 20,000 and cash out, they count it as winning 10,000. There are myriad ways she could have played 1 billion and never actually been up a billion dollars.
 
2013-02-15 11:56:17 AM

Kimothy: teylix: Kimothy: gsiofa: FTA: "The attorney added that her net loss was in the end was $13 million."

Still a lot of money, but it ain't no $1 billion.

This. That's actually a pretty good run over ten years. If she were playing other games, she'd have lost it by now. I'm sure the casino people are pissed they didn't get more of her money.

I bet they're ecstatic she didn't stop after being up 1 billion. I mean c'mon.. you win 1 BILLION dollars.. I think at that point I would've stopped and bought me my own private island stock full of hot women.

I doubt she was ever actually UP a billion dollars. It looks like she broke even most of the time.

If you bet 10,000 in a night, go up to 20,000 and lose it all, the casino counts it as betting 20,000. Just like if you bet 10,000 in a night, double up to 20,000 and cash out, they count it as winning 10,000. There are myriad ways she could have played 1 billion and never actually been up a billion dollars.


At one point, O'Connor was ahead by more than $1 billion, Iredale said, but she suffered even greater losses. The attorney added that her net loss was in the end was $13 million.

Maybe I'm misunderstanding the "was ahead" part.
 
2013-02-15 12:08:46 PM

Warrener: yet_another_wumpus: If you are doing enough action to add up to a billion (or even lose $13M), someone will cut the code* for a custom machine.

/* not as easy as it sounds.  Lots of checks and rechecks in those machines.  On the other hand, I bet there is enough demand for a "high-roller room" for comped video poker players somewhere.

Adding a higher denom to a slot or a poker machine is a pretty simple update. (at least until you get the prizes large enough to cross he $42 Million barrier... which comes up in Latin American markets.) And yes, there is enough demand for high wager games that pretty much everyone offers options in the $50 to $500 per play range.

Flakeloaf: Serious question, what stops someone at a VLT in a bar from using an electronic device to cheat in a way that would be forbidden at a casino?

Not sure what you're talking about.

Video poker does a shuffle between every hand, so there's no advantage to gain from card counting. If you're talking about just seeing the odds for any given play I don't think anyone would stop you, casino, truck stop or Indian trailer.

I suppose if the RNG weren't properly obfuscated you could eventually find out where you were in the sequence and start predicting, but that would take long enough that I doubt you could pull it off.


The only way you could pull it off is if you know how the RNG was obfuscated in the first place (presumably some sort of public key encryption so everyone who checked the source doesn't know it as well).  This is why even a simple update isn't simple (people were using one-armed bandit software regulation as a contrast to "just dump in the code" practices in voting machines).  Oddly enough, windows raised more than a few eyebrows by implementing some sort of NSA-recommended elliptical curve-based random number generator.  Elliptical curves are most often associated with public key systems in cryptography, although I doubt you could get away with including your own "similar" system in a video poker machine.

/had a less than mentally stable cow-orker who was into gambling.  Didn't feel like taking the time to explain "no, you will never, ever, find the pattern to a semi-serious RNG, let alone a real crypto-grade one."
 
2013-02-15 12:13:47 PM

teylix: Kimothy: teylix: Kimothy: gsiofa: FTA: "The attorney added that her net loss was in the end was $13 million."

Still a lot of money, but it ain't no $1 billion.

This. That's actually a pretty good run over ten years. If she were playing other games, she'd have lost it by now. I'm sure the casino people are pissed they didn't get more of her money.

I bet they're ecstatic she didn't stop after being up 1 billion. I mean c'mon.. you win 1 BILLION dollars.. I think at that point I would've stopped and bought me my own private island stock full of hot women.

I doubt she was ever actually UP a billion dollars. It looks like she broke even most of the time.

If you bet 10,000 in a night, go up to 20,000 and lose it all, the casino counts it as betting 20,000. Just like if you bet 10,000 in a night, double up to 20,000 and cash out, they count it as winning 10,000. There are myriad ways she could have played 1 billion and never actually been up a billion dollars.

At one point, O'Connor was ahead by more than $1 billion, Iredale said, but she suffered even greater losses. The attorney added that her net loss was in the end was $13 million.

Maybe I'm misunderstanding the "was ahead" part.



See my earlier post. Most likely the reporter misunderstood "gains" and mis-paraphrased the attorney.

/does even "ere-lee-ere post" get filtered? I forget
 
2013-02-15 12:50:26 PM
I still think the guy that owned oriental trading co is a bigger farkup. It made it here on fark, he sold the company and pissed it away gambling and tried to sue the casinos.
 
2013-02-15 01:10:09 PM

teylix: Kimothy: teylix: Kimothy: gsiofa: FTA: "The attorney added that her net loss was in the end was $13 million."

Still a lot of money, but it ain't no $1 billion.

This. That's actually a pretty good run over ten years. If she were playing other games, she'd have lost it by now. I'm sure the casino people are pissed they didn't get more of her money.

I bet they're ecstatic she didn't stop after being up 1 billion. I mean c'mon.. you win 1 BILLION dollars.. I think at that point I would've stopped and bought me my own private island stock full of hot women.

I doubt she was ever actually UP a billion dollars. It looks like she broke even most of the time.

If you bet 10,000 in a night, go up to 20,000 and lose it all, the casino counts it as betting 20,000. Just like if you bet 10,000 in a night, double up to 20,000 and cash out, they count it as winning 10,000. There are myriad ways she could have played 1 billion and never actually been up a billion dollars.

At one point, O'Connor was ahead by more than $1 billion, Iredale said, but she suffered even greater losses. The attorney added that her net loss was in the end was $13 million.

Maybe I'm misunderstanding the "was ahead" part.


I'm pretty sure that what the reporter meant to hear (and honestly repeat) was that the sum of her wagers was about $1Bn, and that the net loss was around $13M. You don't go up that high and then back down again in a neat curve, especially on a one-player game with such a thin hold percentage. Sklansky I'm not but I'm pretty sure variance doesn't work that way.
 
2013-02-15 01:12:02 PM

offacue: pag1107: So I think it's safe to say that In & Out Burger Heiress > Jack in the Box Heiress.

[blu.stb.s-msn.com image 628x316]
Can't say I disagree with you on that one.......


I'd like to give her the ol' In & Out, if you know what I mean...

In, and out...and in, and out, and in, and out, and in, and...whoops.
And out.
 
2013-02-15 01:49:56 PM

bhcompy: Fissile: This is why we need a 95% tax rate on the wealthy.

Her gambling addiction provided more economic value than a 95% tax rate on income she didn't earn because she inherited it.


==================

America needs a 95% inheritance tax on every dollar over a million.

Spending that money on infrastructure repair would have produced a much greater multiplier than pissing it away in a casino.   The US ranks 26th in internet service, below such counties as France........hell,  the Czechs have better phone and net service than we do.    Yeah, I know, boot-strappy, tax cuts, free market, millionaire job creators, Ayn Rand, blah, blah, blah.....

Man, I'm praying for a comet strike.  Please, please, please, please.......
 
2013-02-15 02:12:12 PM

MrBallou: After losing the first couple hundred million, wouldn't the thrill kind of go flat? I'd at least want the illusion that I might win.


The article makes the claim that she was 1billion USD up at one point.

It doesn't sound like it can be true, but if so, wtf..

---

I've seen people gamble who're obviously addicts. They have 3 machines going at once (that's the number of machines available where I spot them, so they probably use more when available), and have them all set to autoplay.

So the machines autoplay really fast, winning and loosing, every so often (like every 5 minutes or so), something happends that requires interaction from the gambler, and he/she looks annoyed and gets up to press the requited buttons to make it start back on autoplay.
 
2013-02-15 02:12:57 PM

Fissile: bhcompy: Fissile: This is why we need a 95% tax rate on the wealthy.

Her gambling addiction provided more economic value than a 95% tax rate on income she didn't earn because she inherited it.

==================

America needs a 95% inheritance tax on every dollar over a million.

Spending that money on infrastructure repair would have produced a much greater multiplier than pissing it away in a casino.   The US ranks 26th in internet service, below such counties as France........hell,  the Czechs have better phone and net service than we do.    Yeah, I know, boot-strappy, tax cuts, free market, millionaire job creators, Ayn Rand, blah, blah, blah.....

Man, I'm praying for a comet strike.  Please, please, please, please.......


More like these casinos hire thousands of people each that don't have real educations to do jobs that otherwise wouldn't exist because of people like this woman.

As far as internet service, we built on copper across a nation that has very low population density.  Now we reap it.  I'm perfectly happy with my fiber internet that I have because I live in a densely populated area where tearing out the copper and replacing it with fiber is in any way cost effective.  The Czechs have better phone and net service because they're more recently developed and they have 4 times greater population density per square mile.  And the US is in the lowest 25% of countries in density.  Bad for expensive infrastructure projects.
 
2013-02-15 02:13:15 PM

gsiofa: FTA: "The attorney added that her net loss was in the end was $13 million."

Still a lot of money, but it ain't no $1 billion.


The article says she won 1billion, which she then lost.
 
2013-02-15 02:23:41 PM

Lt. Cheese Weasel: offacue: [tribkswb.files.wordpress.com image 692x384]
 Boo farking hoo you stupid coont.

Her face looks like it caught on fire and somebody put out the flames with a spatula


I was thinking it was beat out with a wooden spoon.  Let's just agree to disagree.
 
2013-02-15 04:13:43 PM
I have always dreamed of building a successful empire my children could piss away.
 
2013-02-15 04:16:05 PM

socoloco: I have always dreamed of building a successful empire my children could piss away.


Actually it would have been better had my father built an empire I could piss away.
 
2013-02-15 04:20:27 PM

ranak: Great, now I want an Ultimate Bacon Cheeseburger.

Closest damn one is in South Carolina.  /sadface


I to am depressed...

you need to try the Ultimate with sourdough bread subbed in...
 
2013-02-15 05:26:01 PM

MrBallou: After losing the first couple hundred million, wouldn't the thrill kind of go flat? I'd at least want the illusion that I might win.


Sad thing is the fact that it doesn't.

My step-sister was married to a guy who owned a business inherited from his father that he grew from about 20mil to 100 million.  He was a gambling addict and would blow millions on a trip to vegas.  They had 3 kids together, eventually divorced, and his gambling debts finally caught up to him.  He had to sell his company to pay his debts, child support, alimony etc.  I doubt he is destitute now, but the point is the fact that he literally gambled away 10's of millions of dollars.
 
2013-02-15 05:45:12 PM
Too many missing pieces here to be outraged. Is it $1B that she lost or played? If it is played through the machine, it is plausible with them stating that she was $13M down. I am just going straight Video Poker here but on a high-limit video poker game, it is not unusual to have 98.5% payback. Should she play $1B through the machine she could expect to have $15M loss. ($1B * 1.5% casino hold). That is provided she plays perfect strategy. Since her end loss was $13M, I suspect she would have had a Royal Flush in there or was perhaps on lower hold machines. The entire state of Nevada only took in $6.78B for the entire year of 2012 on Slot Machines (which they report Video Poker under), so I have a hard time believing that this woman lost $1B in just 8 years.

My guess is that she played over $1B through the machine, not actually lost $1B. Probably just standard media sensationalism.

/Works as a gaming analyst for a Las Vegas casino
//Knows how hold rates and video poker odds work
///Has had a number of discussions with people who say there is no way they could have played $100K in a year on Social Security until I sit them down and show them the math of it all.
///shashies
 
2013-02-15 06:03:27 PM
She should go into prostitution and make some of the money back!

<Sees her picture> Ugh, scratch that idea.
 
2013-02-15 06:13:58 PM

bhcompy: Fissile: bhcompy: Fissile: This is why we need a 95% tax rate on the wealthy.

Her gambling addiction provided more economic value than a 95% tax rate on income she didn't earn because she inherited it.

==================

America needs a 95% inheritance tax on every dollar over a million.

Spending that money on infrastructure repair would have produced a much greater multiplier than pissing it away in a casino.   The US ranks 26th in internet service, below such counties as France........hell,  the Czechs have better phone and net service than we do.    Yeah, I know, boot-strappy, tax cuts, free market, millionaire job creators, Ayn Rand, blah, blah, blah.....

Man, I'm praying for a comet strike.  Please, please, please, please.......

More like these casinos hire thousands of people each that don't have real educations to do jobs that otherwise wouldn't exist because of people like this woman.

As far as internet service, we built on copper across a nation that has very low population density.  Now we reap it.  I'm perfectly happy with my fiber internet that I have because I live in a densely populated area where tearing out the copper and replacing it with fiber is in any way cost effective.  The Czechs have better phone and net service because they're more recently developed and they have 4 times greater population density per square mile.  And the US is in the lowest 25% of countries in density.  Bad for expensive infrastructure projects.


==========

How do you know the people working for casinos don't have "real educations"?   I'm sure the construction and factory workers of two generations ago, who made a living wage(unlike casino workers), all had Ph.Ds.   Oh, right, unions....unions bad.

As for your bullshiat theory of how other countries have better phone/net service than we do because they have high population densities and only recently discovered wires is well, bullshiat.  Iceland is near #1 in phone/net service, and they have one of the lowest population densities in world.
 
2013-02-15 08:48:44 PM

doglover: At one point, O'Connor was ahead by more than $1 billion, Iredale said, but she suffered even greater losses. The attorney added that her net loss was in the end was $13 million.

That's not losing money. She only gambled away $13M.


But she drank and ate that much in comps, so basically she just broke   even.
 
2013-02-16 04:14:38 AM
whenever you make a bet it adds to your total bet volume. If you make 100 $10 bets and you alternate winning hands and losing hands you will break even but you will have wagered a total of $1000. This is media sensationalism at its finest.

I have made over $50 million in bets in my but my lifetime net result has very little to do with that figure.

When they say she won a billion and lost a billion its probably because one day she won 300k and next day she lost 300k. repeat over and over and you get those statements to be true but extremely misleading.
 
2013-02-16 03:07:04 PM

Fissile: How do you know the people working for casinos don't have "real educations"? I'm sure the construction and factory workers of two generations ago, who made a living wage(unlike casino workers), all had Ph.Ds. Oh, right, unions....unions bad.

As for your bullshiat theory of how other countries have better phone/net service than we do because they have high population densities and only recently discovered wires is well, bullshiat. Iceland is near #1 in phone/net service, and they have one of the lowest population densities in world.


What the hell are you going on about?  As far as living wages, have you seen the cost of living in Vegas?  They make a living wage, but since you've never lived there and apparently have no understanding of the industry you wouldn't even know that. You just pull partisan shiat out of your ass because you're a tool.

And regarding density, let's ask one of CNN's tech writers:
Population density
South Korea, with more than 1,200 people per square mile, is a lot denser than the United States, where 88 people live in the same amount of space, and where rural areas and suburbs are large.
The result for broadband? It costs less to set up Internet infrastructure in a tightly populated place filled with high-rise-apartments, such as South Korea, than it does in the United States, where rural homes can be great distances apart.
 
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