To rehash an old thread, as I was just explaining this to my friend in the US (a banker... down vlad... DOWN!) and we broke it all out in a spreadsheet. You have some flaws in your chart, not adding in the extra to the pot from the people now having to pay the full $50 from having previously taken the pot and also adding in the person's own payment to the amount received without adding it to the amount paid.
On top of that, having the varied amounts and sequencing makes it a little confusing, though does illustrate what the effects of varied bids will have on the total pay-in for the longer lasting players and how the more you bid the more likely you are to win, but the worse you'll do as a net value. If you ever "win" it should only be at $2 to maximise your return.
I made this chart always assuming a winning $2 bid, and the rest as $1... essentially a worst case scenario for the one who holds out the longest. In this situation, the first person gets a nice loan at a total interest of only $18... or 4.2%. Not that bad really. You only get "really" screwed early on if you force the win with a high bid.
Blood is Thicker than Bor Bor
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Those who begin coercive elimination of dissent soon find themselves exterminating dissenters. Compulsory unification of opinion achieves only the unanimity of the graveyard.
Robert H. Jackson, West Virginia State Board of Education v. Barnette
Robert H. Jackson, West Virginia State Board of Education v. Barnette
So instead of creating a new thread I’ve bounced this one.
My wife’s aunt plays this “game”. Said she’s won a few times, and probably lost a lot - but kept it on the low down.
Anyway, my landlord’s (pretty wealthy. Owns a few properties) parents just lost $200k on this Tong Tong. The person running it buggered off overseas.
I told my wife and she was adamant that lots of people win so it must have been just a bad group.
She tried to explain it but it’s just a huge Ponzi.
It’s endemic in every village throughout Cambodia.
My wife’s aunt plays this “game”. Said she’s won a few times, and probably lost a lot - but kept it on the low down.
Anyway, my landlord’s (pretty wealthy. Owns a few properties) parents just lost $200k on this Tong Tong. The person running it buggered off overseas.
I told my wife and she was adamant that lots of people win so it must have been just a bad group.
She tried to explain it but it’s just a huge Ponzi.
It’s endemic in every village throughout Cambodia.
pew, pew, pew, pew!
It made sense before recent times when banking has become available for the masses. Previously, the only way to stash your savings was in gold (very stealable) or under the mattress (ditto). Now, I'd say it's an obsolete custom.YaTingPom wrote: ↑Mon Jul 11, 2022 7:39 amSo instead of creating a new thread I’ve bounced this one.
My wife’s aunt plays this “game”. Said she’s won a few times, and probably lost a lot - but kept it on the low down.
Anyway, my landlord’s (pretty wealthy. Owns a few properties) parents just lost $200k on this Tong Tong. The person running it buggered off overseas.
I told my wife and she was adamant that lots of people win so it must have been just a bad group.
She tried to explain it but it’s just a huge Ponzi.
It’s endemic in every village throughout Cambodia.
It still makes sense as banking is not available for the masses; likewise loans from banks & MFIs are near impossible to obtain without collateral, this is a very effective community led 'pay day' loan type of mechanism that the locals have used for ages. Samnang will happily pay the premium rather than walk into a air-con ABA branch with his beaten up Nokia & lack of shoes.
Meum est propositum in taberna mori,
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
It's possible that your wife or wife's aunt will make a profit from this game in the long run, but I'd be less surprised if the OP replied to your post.YaTingPom wrote: ↑Mon Jul 11, 2022 7:39 amSo instead of creating a new thread I’ve bounced this one.
My wife’s aunt plays this “game”. Said she’s won a few times, and probably lost a lot - but kept it on the low down.
Anyway, my landlord’s (pretty wealthy. Owns a few properties) parents just lost $200k on this Tong Tong. The person running it buggered off overseas.
I told my wife and she was adamant that lots of people win so it must have been just a bad group.
She tried to explain it but it’s just a huge Ponzi.
It’s endemic in every village throughout Cambodia.
No idea.fapsara wrote: ↑Mon Jul 11, 2022 11:45 amIt's possible that your wife or wife's aunt will make a profit from this game in the long run, but I'd be less surprised if the OP replied to your post.YaTingPom wrote: ↑Mon Jul 11, 2022 7:39 amSo instead of creating a new thread I’ve bounced this one.
My wife’s aunt plays this “game”. Said she’s won a few times, and probably lost a lot - but kept it on the low down.
Anyway, my landlord’s (pretty wealthy. Owns a few properties) parents just lost $200k on this Tong Tong. The person running it buggered off overseas.
I told my wife and she was adamant that lots of people win so it must have been just a bad group.
She tried to explain it but it’s just a huge Ponzi.
It’s endemic in every village throughout Cambodia.
It wasn’t directed at the OP just a general statement.
pew, pew, pew, pew!
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I think you want to say : TONG TINE.
Predictive text.
pew, pew, pew, pew!
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