Any Wives or GF's Play the 'Shares' Game?

[BaitongBoy]

My girl started her 'shares' about 8 months ago.
Had 19 ladies from the tambon, each contributing at least 3,000 baht.
They meet each month at our place and draw pieces of paper.
The one that draws the 'x' wins the pot.
First pot was over 60,000 baht.
The winner can't win again until all the others have won, but she still has to pay her monthly 'share.'
The organizer can't 'win' until the end, where she takes everything.
Some of the players have more than one 'share.'
This means they have to 'pay-in' 2 or 3 times the norm every month, but they get an additional draw or more, depending on the amount of shares they have.
My girl has 5 shares, so she pays in 15,000 baht every month.
I admit I don't understand the whole process because it seems to me that you can only 'win' what you put in.
But these 'shares' games are all over the place.
Some of the ladies from our group organize their own share groups.
It can be risky because we are talking Thais and money! 555! 'Nuff said.
Some of the organizers are 'suspect.'
Nobody will screw over my girl because she is 'connected,' and that is all it takes for success.
But I still can't see the great advantage of this game that is so damned popular around here.
Since most Thais seem to live day to day, why would they even think of parting with a substantial amount of money for a chance (albeit a sure chance, since they have to win at some point) of winning the money back later?
Like I said, I don't know all the facts. Language is a barrier, too. (No shit, I hear you say) Maybe I am missing something.

I know some of you guys must have ladies who are into this.
Any thoughts on the subject?

[Davis Knowlton]

Sounds pretty dicey to me. But, Thai females will bet on pretty much anything. In my opinion, someone is gonna get shafted, and it won't be the 'organizer'.

[Butterfly]

it's a scam, actually you can bid for the share or buy the hand if you need to get the pot

it's often used as a source of loan or cash flow for the girls

[Rigger]

Yes you are wrong to think your wife won't get foked over because she is connected. People who get involed in the game don't have. Which is why they do this stupid shit.

[superman]

My girl has 5 shares, so she pays in 15,000 baht every month

What does she work at to have that amount to play with ? Plus, when others fail to pay their share for the month she, the organiser, has to put in the missing donation(s).

[hillbilly]

Yes you are wrong to think your wife won't get foked over because she is connected. People who get involed in the game don't have. Which is why they do this stupid shit.

Hit the nail on the head!

[9999]

it's a scam, actually you can bid for the share or buy the hand if you need to get the pot

it's often used as a source of loan or cash flow for the girls

The way the OP described sounds like zero sum gambling to me. However, since someone will inevitably fuck everyone else over it's defo negative expectation.

I've only come across the local lotteries, where they take about 50% out of the kitty before re-distributing it.

[9999]

albeit a sure chance

Not true. This is Martingale thinking.

It is entirely possible, however improbable, that someone's name never comes up, and is therefore gambling.

[rawlins]

Why don't you tell her to put the 15000 baht each month into a bank account. That way she can choose any time at all to be a 'winner' just by using her ATM card.

I have heard of this before... Sounds stupid.

They are a gullible lot though - will fall for anything that their mates tell them or try to sell them. My missus came back from some female gathering with a small box of 'cure everything herbal remedy pills'... She didn't need to cure anything but she had bought them anyway because a friend was selling them... 2000 baht wasted.

[nidhogg]

I admit I don't understand the whole process because it seems to me that you can only 'win' what you put in.

But I still can't see the great advantage of this game that is so damned popular around here.

Some of the staff at my place of work do this, on a smaller scale. It is more of a small savings scheme than anything else. They normally do say a 1,000 per month, ten people agree to see it through to the end. So, each month everyone pays in 1,000, and every month one person takes the 10,000.

The logic behind it is that it is relatively find 1,000 a month, but sometimes difficult to get 10,000 in cash in a particular month. People will do it to have the cash to go buy a phone or a fridge or whatever.

Only real down side is ensuring that the person who walks away with the 10,000 the first month, stick with putting up the 1,000 every month for the next nine months. Normally who gets is drawn by lot, but they also seem to do it by negotiation - I need it next month because blah blah. Seems to work.

My missus at home does not do it - a few of her friends do, but if she wants 10K, she just asks me. Easier I suppose!

[The Master Cool]

My missus at home does not do it - a few of her friends do, but if she wants 10K, she just asks me. Easier I suppose!

Sounds like she's onto a good thing.

Mine works, gets paid, and then uses money from her bank account if she wants to buy something. Strange concept I know.

[Norton]

All sounds like great scheme. Bunch of friends get together and put some money in a pool. All well and good until someone disappears with the pot. Risk is high this will happen.

Suppose it's fun as is a sports pool but as with anything, don't invest more than you can afford to lose.

My missus abhors any sort of gambling. She's seen the consequences of folks losing their land and everything else to pay off gambling debts. The small money she makes selling farm products is put in the bank.

[nidhogg]

Mine works, gets paid, and then uses money from her bank account if she wants to buy something. Strange concept I know.

She full time takes care of our young son by my choice.

Strange concept I know.

[9999]

Mine works, gets paid, and then uses money from her bank account if she wants to buy something. Strange concept I know.

Strange concept when there's a huge gap in earning potential, which is often the case in Thai / Farang relationships.

Mine is doing an intensive English course so she can make some real dosh in Australia.

[Jack meoff]

And the 19 losers borrow 3K from the winner and pay it back when they win, TIT.

What security does the orginiser have that the first winner decides she can't be fookin bothered to pay another year and a half. People will drop out and the pot dwindles down to a couple playing? I win this month you win next month, WTF.
Like a poster said stick it in the bank.

[BaitongBoy]

it's often used as a source of loan or cash flow for the girls

Yeah, that part is easy...

[BaitongBoy]

What does she work at to have that amount to play with ?

Papa was a land developer...left 100's of millions in cash and land to children...

[Jack meoff]

What does she work at to have that amount to play with ?

Papa was a land developer...left 100's of millions in cash and land to children...

She got any unmarried sisters?

[BaitongBoy]

Yes you are wrong to think your wife won't get foked over because she is connected. People who get involed in the game don't have. Which is why they do this stupid shit.

I'm not thinking anything at this stage...
I've seen lots of 'foked over-ness'...
I've also never seen so much grovelling...

[BaitongBoy]

Why don't you tell her to put the 15000 baht each month into a bank account. That way she can choose any time at all to be a 'winner' just by using her ATM card.

Bingo! That's what I say...

[rawlins]

^ I say house but that's besides the point.

There are no equivalent Thai words for the likes of 'lend' or 'trust' or 'sorry'..... At least if there are, I have never heard a Thai utter them.

They have no shame where cheating is concerned... There is a Thai equivalent for 'deny everything'....

It isn't just foreigners that they enjoy shafting... They will gladly screw each other over also and not bat an eyelid about it...

Why do you let your missus do this?... Unless she does actually have a big inheritance to squander..

I am still trying to convince my one that the Thai lottery is the crappest in the world.

[9999]

I am still trying to convince my one that the Thai lottery is the crappest in the world.

Not necessarily. I'm thinking there's opportunity for bargains due to the uneven distribution of payouts. Everyone loves 9 and 8 and hates 4 and 5. Today I saw them trying to flog off the remaining tickets for this arvo's draw. They were going for 50 baht a ticket (usually 120) and were all 'bad' numbers. So hitting these numbers should equate to a larger slice of the pool.

It might be mathematically advantageous to buy up unpopular numbers close to draw time, but would need to know the exact % cut the lottery takes to work it out.

[rawlins]

^ Good thinking if the thing isn't rigged towards the 9s and 8s.

Only winners from the lottery I know are those that sell the tickets and the moto taxi guys that sell the winning number news sheets at 5 baht a pop. (And the company that runs it).

[Thai Pom]

My understanding of the share is that every month they "bid" on taking the pot, the one that bids most (i.e. needs a sharp injection of cash)takes the pot. So if your missus bids 3100 and a mate 3050 she gets the pot. If there is no bidders it is then drawn out.

Here is the catch, once you have bid 3100 you have to pay that into the pot every month until the share is finished and you cannot take it again. The one person that is still there at the end can stand to take a fair pot.

That reminds me "where did my first house here go?"

Cheers, TP

[9999]

if the thing isn't rigged towards the 9s and 8s.

Exactly, probably not worth pursuing due to the likelyhood of corruption. At least you'd have to figure that into the equation.