An analogy in gambling. - page 2. | Bitcointalksearch.org

LUCKMCFLY

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Quote from: Fredomago on October 12, 2024, 12:20:07 PM

You need to have that sense of responsibility, instead of chasing better to treat it as part of your allocated budget for your entertainment, as we know that the risk inside gambling is high, using spare money and having that good control over your emotion will allow you to fill that entertainment though sometimes you might earn decently, but if luck did not permits you just always remember that chasing loses will ruined your finances, just move forward and forget about depositing more.

Yes, you are right about that, because usually things are very good when you have the responsibility of managing money, but that is something that falls on the type of person and how they can manage their finances, I am a person who will always manage their money well so as not to waste it, because it is something that would affect them in the short, medium and long term , that is why I always emphasize money, which at the end of the day is what we are looking for , for everything responsibility is needed, otherwise there is no point in losing money in vain.

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Quote from: maydna on October 16, 2024, 07:44:26 AM

They must change their mindset not to believe they can makes money from gambling.

There's nothing wrong with believing that we can make money in gambling, what's wrong is if we still use the strategy that doesn't deliver as the win.

Quote from: maydna on October 16, 2024, 07:44:26 AM

Perhaps, they should see the reality that they will get from gambling by letting them try what they can by playing the gambling games. If they lose much money in gambling, they must realize that what they did before is wrong so they need to change what they think.

Delusional will comes to them if they want to win the games. They will pretend that in the next rounds, they will win but the reality, they still lose the money.

Most of us will probably end up losing in gambling, but would you believe there are people who actually make money from it? I’ve read a few stories, and I believe it’s possible, especially in games where there’s no house edge, like sports betting. If you’re good at it, you have a chance to win in the long run, unlike in casinos, where you’re basically relying on luck and the odds aren’t in your favor over time.

But if you get too focused on that kind of game and think you’ll be profitable long-term without adjusting your approach, then yeah, it’s fair to call that being delusional.

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Quote from: Oilacris on October 15, 2024, 10:36:04 AM

Quote from: maydna on October 15, 2024, 10:27:58 AM

~snip~

Winning is really just that a bonus and this is something that gamblers should really be that realizing from the start. The main issue for most people is that they do become that too positive
when it comes into their gambling dealing on which they do really that believe that they could actually be able to take advantage or make money in sure manner without trying out to mind about the corresponding risks. Gambling should really be just that for fun and not to make it as a source of income because this is where people do usually fall into the pit on which they do make themselves delusional until they would finding themselves on hard situation and then making out those realizations, but its already too late on where the damage has already been done.

They must change their mindset not to believe they can makes money from gambling. Perhaps, they should see the reality that they will get from gambling by letting them try what they can by playing the gambling games. If they lose much money in gambling, they must realize that what they did before is wrong so they need to change what they think.

Delusional will comes to them if they want to win the games. They will pretend that in the next rounds, they will win but the reality, they still lose the money.

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Quote from: Oilacris on October 15, 2024, 10:36:04 AM

Quote from: maydna on October 15, 2024, 10:27:58 AM

If they get lucky in gambling, that will be no doubt for them to winning much money. But unfortunately, only a few player who can be lucky in gambling games and makes the other players lost their money. If a player rely on their luck when playing gambling, they will difficult to win because they do not know when they can win. We can not predict when our luck comes and although we keep gambling without stop, that will not guarantee you can win. You don't have to risk too big money in gambling to chase your luck to comes because you can lose your money. That can make you hard to stop as you want to recover your losses.

Winning is really just that a bonus and this is something that gamblers should really be that realizing from the start. The main issue for most people is that they do become that too positive
when it comes into their gambling dealing on which they do really that believe that they could actually be able to take advantage or make money in sure manner without trying out to mind about the corresponding risks. Gambling should really be just that for fun and not to make it as a source of income because this is where people do usually fall into the pit on which they do make themselves delusional until they would finding themselves on hard situation and then making out those realizations, but its already too late on where the damage has already been done.

Well that's right that's what I think happens to most gamblers, they feel too confident with the results or they feel that at the end of the game they will win, even though it is clear that before the results come out, defeat will always be part of the game. On the other hand, for gamblers who have an approach like that, I think it's just a matter of time for them to finally be dragged into a very sad situation in their lives, losing financial stability is something they will definitely experience and the worst thing is that it is not uncommon for them to end their lives which is definitely because they are not strong enough to withstand all the pressure from the various problems that arise, and this is why we always advise not to make gambling a place to earn and this is also the reason why you should know in advance about what you are actually facing, because everything will be very bad if you misunderstand from the start.

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I think if you want to play with a proper strategy for sports betting then you should bet on short and medium matches. Because otherwise it's impossible to predict reliably and you lose track. Since some of the predictions are at the limit of doing something very strategic, you can take such chances every week. In fact, the odds of gambling will be drawn against you again and again, but it can be difficult to win and keep betting there. I never want to push the odds too much because that's what I consider when making those pearl slips.

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Quote from: maydna on October 15, 2024, 10:27:58 AM

Quote from: Lannakosa on October 15, 2024, 06:42:00 AM

Luck also plays a role, but in my observations, players who are able to make a profit from gambling achieve these results thanks to their skills, and not luck. Those players who rely only on luck will definitely end up losing, and those who are lucky now may not be lucky next time, I think this is what happens most often. To get a big payout, that is, to win a big bet, most often you need to bet a large amount, and very few players are willing to risk this, more often players are willing to risk small bets with large multipliers, but it is very difficult to win in this case.

If they get lucky in gambling, that will be no doubt for them to winning much money. But unfortunately, only a few player who can be lucky in gambling games and makes the other players lost their money. If a player rely on their luck when playing gambling, they will difficult to win because they do not know when they can win. We can not predict when our luck comes and although we keep gambling without stop, that will not guarantee you can win. You don't have to risk too big money in gambling to chase your luck to comes because you can lose your money. That can make you hard to stop as you want to recover your losses.

Winning is really just that a bonus and this is something that gamblers should really be that realizing from the start. The main issue for most people is that they do become that too positive
when it comes into their gambling dealing on which they do really that believe that they could actually be able to take advantage or make money in sure manner without trying out to mind about the corresponding risks. Gambling should really be just that for fun and not to make it as a source of income because this is where people do usually fall into the pit on which they do make themselves delusional until they would finding themselves on hard situation and then making out those realizations, but its already too late on where the damage has already been done.

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Quote from: Lannakosa on October 15, 2024, 06:42:00 AM

Luck also plays a role, but in my observations, players who are able to make a profit from gambling achieve these results thanks to their skills, and not luck. Those players who rely only on luck will definitely end up losing, and those who are lucky now may not be lucky next time, I think this is what happens most often. To get a big payout, that is, to win a big bet, most often you need to bet a large amount, and very few players are willing to risk this, more often players are willing to risk small bets with large multipliers, but it is very difficult to win in this case.

If they get lucky in gambling, that will be no doubt for them to winning much money. But unfortunately, only a few player who can be lucky in gambling games and makes the other players lost their money. If a player rely on their luck when playing gambling, they will difficult to win because they do not know when they can win. We can not predict when our luck comes and although we keep gambling without stop, that will not guarantee you can win. You don't have to risk too big money in gambling to chase your luck to comes because you can lose your money. That can make you hard to stop as you want to recover your losses.

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Luck also plays a role, but in my observations, players who are able to make a profit from gambling achieve these results thanks to their skills, and not luck. Those players who rely only on luck will definitely end up losing, and those who are lucky now may not be lucky next time, I think this is what happens most often. To get a big payout, that is, to win a big bet, most often you need to bet a large amount, and very few players are willing to risk this, more often players are willing to risk small bets with large multipliers, but it is very difficult to win in this case.

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Quote from: viljy on October 14, 2024, 04:52:36 AM

Quote from: Sandra_hakeem on June 16, 2024, 03:42:49 PM

Do you believe this analogy as to sport betting? that sometimes, casino bets with higher stakes are likely to not cut it? Considering the amount that a certain multiplier could reach?

I've known a certain group of gamblers that would sing their praises to games with lower potential winnings. At some point, I'm stuck in-between the fact that they're either lucky with games of little potential winnings and it happens on almost every winning tickets? Again, if you're also in doubt to their belief, is their winning tickets on the low outcome always a coincidence? Also, if the casinos are always cautious as to not incuring too much to pay, how about tickets with $800k winnings?

It seems to me that this is not surprising. The higher the potential gain, the less likely it is to win. This is both in gambling and in betting, where this fact is expressed in terms of bookmakers' odds. The large winnings that occur are provided for in mathematical calculations and do not cause any damage to the casino.

It remains surprising how much everything is always calculated in the casino. Indeed, when the casino plans its profits and losses and calculates the final Profit, then a whole department of mathematicians is engaged in this, who calculate several outcomes: successful and unsuccessful, and then these mathematicians take something in between. It would seem that therefore the casino should also have successful and unsuccessful periods, but due to the large sample and distance for the casino, the luck factor disappears, leaving precise calculations.

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Quote from: viljy on October 14, 2024, 04:52:36 AM

Quote from: Sandra_hakeem on June 16, 2024, 03:42:49 PM

Do you believe this analogy as to sport betting? that sometimes, casino bets with higher stakes are likely to not cut it? Considering the amount that a certain multiplier could reach?

I've known a certain group of gamblers that would sing their praises to games with lower potential winnings. At some point, I'm stuck in-between the fact that they're either lucky with games of little potential winnings and it happens on almost every winning tickets? Again, if you're also in doubt to their belief, is their winning tickets on the low outcome always a coincidence? Also, if the casinos are always cautious as to not incuring too much to pay, how about tickets with $800k winnings?

It seems to me that this is not surprising. The higher the potential gain, the less likely it is to win. This is both in gambling and in betting, where this fact is expressed in terms of bookmakers' odds. The large winnings that occur are provided for in mathematical calculations and do not cause any damage to the casino.

Most of the time, though same with what you are saying it's alredy calculated and if ever there's a winning tickets most likely it's been covered by those losing bets or if ever that it's not that covered yet then casino or bookies always have that time to recover those money, they've got deep capital to cover and it's always business as usual, no damage at all especially those established casino houses.

viljy

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Quote from: Sandra_hakeem on June 16, 2024, 03:42:49 PM

Do you believe this analogy as to sport betting? that sometimes, casino bets with higher stakes are likely to not cut it? Considering the amount that a certain multiplier could reach?

I've known a certain group of gamblers that would sing their praises to games with lower potential winnings. At some point, I'm stuck in-between the fact that they're either lucky with games of little potential winnings and it happens on almost every winning tickets? Again, if you're also in doubt to their belief, is their winning tickets on the low outcome always a coincidence? Also, if the casinos are always cautious as to not incuring too much to pay, how about tickets with $800k winnings?

It seems to me that this is not surprising. The higher the potential gain, the less likely it is to win. This is both in gambling and in betting, where this fact is expressed in terms of bookmakers' odds. The large winnings that occur are provided for in mathematical calculations and do not cause any damage to the casino.

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Quote from: ajiz138 on October 14, 2024, 03:35:27 AM

Quote from: mirakal on October 14, 2024, 02:34:46 AM

Whether it’s for fun or for profits, there’s only one ultimate goal why we want to gamble, that is to win and earn significant amount. And by then, we feel lucky and interested to gamble more, where there is winnings, there is more fun on it.

However, based on my personal experiences with gambling, there’s more to lose than for us to win, that is if we always aim for high profits. But if we just stick to some low winning odds, even if we lose, that won’t hurt us much, and if we win, the prize wouldn’t be that too much, and it’s okay compared sticking to high odds and end up losing a huge amount.

Yup, that's how gambling we only expect bigger wins, this cannot be denied the pleasure will increase and gambling will continue to be addicted.
The feeling of disappointment when losing a gamble is definitely there, but remember it's money that you can afford to lose a momentary sprain that many gamblers may feel but everything will be fine.

In my statistics my bets where more losses, but this does not matter not looking for profit even though I know when I lose then emotions will always be there.
Sometimes we look for low odds to get a win and continue the game we want, sometimes we look for high odds but higher risk.
Whatever it is I'm sure gamblers will be ready to lose their money.

Well, the fact that we enter gambling, then losses will surely come inevitably. The challenge here is how to set limits on our bankroll so that even if we lose, our bankroll will never become critical. However, there’s no wrong if we set betting on low odds, surely the losses will remain low as well. But we all know how greedy gamblers are, most particularly for those beginners, so if we can gamble at an amount we can afford to lose, an amount that won’t put our finances at risk, then our gambling activities will be fine and smooth sailing.

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Quote from: mirakal on October 14, 2024, 02:34:46 AM

Quote from: Awaklara on October 11, 2024, 09:40:48 AM

Quote from: Akbarkoe on October 11, 2024, 09:34:07 AM

The average person's thinking must be different either to fulfill his ambition or fulfill his needs, including in gambling, the person's thinking will be different, and they will argue as if they need fun but the fact remains that they still feel high anger when they lose, because the orientation of pleasure is in the big win not in the game, this is often encountered and such people are easier to fall into addiction.
People who combine their minds often talk about profit and loss in nominal terms.

what you said is true. gamblers sometimes say that they have fun with gambling. but when they lose they feel very frustrated and angry. they only have fun with the winnings they get, not happy because of the game being played.
I think there are more gamblers in that understanding. not many can think well whether they gamble for real fun. or with the aim of fulfilling their ambition to win some bets.

Whether it’s for fun or for profits, there’s only one ultimate goal why we want to gamble, that is to win and earn significant amount. And by then, we feel lucky and interested to gamble more, where there is winnings, there is more fun on it.

However, based on my personal experiences with gambling, there’s more to lose than for us to win, that is if we always aim for high profits. But if we just stick to some low winning odds, even if we lose, that won’t hurt us much, and if we win, the prize wouldn’t be that too much, and it’s okay compared sticking to high odds and end up losing a huge amount.

That is a good approach to try and go for sport betting low odds but unfortunately as you say most people are in for winning a good amount of money and that leads to more lost amounts of money. I would say that in gambling is extremely difficult to achieve such level of confidence and self control to be playing low odds, low amounts and to quit whenever you see things not going your way. If we manage to only play money we can afford to lose that is the best way to approach gambling.

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Quote from: mirakal on October 14, 2024, 02:34:46 AM

Whether it’s for fun or for profits, there’s only one ultimate goal why we want to gamble, that is to win and earn significant amount. And by then, we feel lucky and interested to gamble more, where there is winnings, there is more fun on it.

However, based on my personal experiences with gambling, there’s more to lose than for us to win, that is if we always aim for high profits. But if we just stick to some low winning odds, even if we lose, that won’t hurt us much, and if we win, the prize wouldn’t be that too much, and it’s okay compared sticking to high odds and end up losing a huge amount.

Yup, that's how gambling we only expect bigger wins, this cannot be denied the pleasure will increase and gambling will continue to be addicted.
The feeling of disappointment when losing a gamble is definitely there, but remember it's money that you can afford to lose a momentary sprain that many gamblers may feel but everything will be fine.

In my statistics my bets where more losses, but this does not matter not looking for profit even though I know when I lose then emotions will always be there.
Sometimes we look for low odds to get a win and continue the game we want, sometimes we look for high odds but higher risk.
Whatever it is I'm sure gamblers will be ready to lose their money.

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Quote from: Awaklara on October 11, 2024, 09:40:48 AM

Quote from: Akbarkoe on October 11, 2024, 09:34:07 AM

The average person's thinking must be different either to fulfill his ambition or fulfill his needs, including in gambling, the person's thinking will be different, and they will argue as if they need fun but the fact remains that they still feel high anger when they lose, because the orientation of pleasure is in the big win not in the game, this is often encountered and such people are easier to fall into addiction.
People who combine their minds often talk about profit and loss in nominal terms.

what you said is true. gamblers sometimes say that they have fun with gambling. but when they lose they feel very frustrated and angry. they only have fun with the winnings they get, not happy because of the game being played.
I think there are more gamblers in that understanding. not many can think well whether they gamble for real fun. or with the aim of fulfilling their ambition to win some bets.

Whether it’s for fun or for profits, there’s only one ultimate goal why we want to gamble, that is to win and earn significant amount. And by then, we feel lucky and interested to gamble more, where there is winnings, there is more fun on it.

However, based on my personal experiences with gambling, there’s more to lose than for us to win, that is if we always aim for high profits. But if we just stick to some low winning odds, even if we lose, that won’t hurt us much, and if we win, the prize wouldn’t be that too much, and it’s okay compared sticking to high odds and end up losing a huge amount.

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Quote from: bubilas on October 14, 2024, 01:40:33 AM

Quote from: madnessteat on October 11, 2024, 06:30:13 AM

Quote from: bubilas on October 10, 2024, 01:53:14 AM

And this is the right approach, which is good not only in betting or gambling, but is good absolutely everywhere. Of course, it is always very unusual to see how underdogs win.
After all, at the moment when the match has not yet started, we see the odds and we see that before that one team was always stronger than the other. And because of all this, the decision seems obvious. But then it turns out that the favorites are in bad shape, or the underdogs have become stronger. Therefore, we cannot allow the psychological influence of the bet sizes on our opinion.

As I said above, the same concept that helps me in investing - deversification. Instead of betting on one match, the results of which I have no doubts, I bet on several similar matches and only on favorites with small odds. Even if several matches do not end in my favor, I do not lose all the money. Of course, the probability of getting rich through this is not high, but the risks are not so high.

And this is the right approach to betting! The only thing is that you need to quickly figure out each match to maximize your chances of winning. The advantage of this approach can also be considered the maximum exclusion of luck, since the betting distance increases, and the knowledge factor has the greatest impact. Therefore, this approach is really very similar to diversification, which I personally use only in trading.

You need to have that kind of mentaliy and understanding, if you know how to handle things when you are in session you can lessen the chance of losing a lot while you have that opportunity to please your desire, though in terms of securing your profits even how low the odds there's always a chance of losing your bets, it's a matter of how wise you are when working or dealing in each bets that you select placing your bets.

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Quote from: madnessteat on October 11, 2024, 06:30:13 AM

Quote from: bubilas on October 10, 2024, 01:53:14 AM

And this is the right approach, which is good not only in betting or gambling, but is good absolutely everywhere. Of course, it is always very unusual to see how underdogs win.
After all, at the moment when the match has not yet started, we see the odds and we see that before that one team was always stronger than the other. And because of all this, the decision seems obvious. But then it turns out that the favorites are in bad shape, or the underdogs have become stronger. Therefore, we cannot allow the psychological influence of the bet sizes on our opinion.

As I said above, the same concept that helps me in investing - deversification. Instead of betting on one match, the results of which I have no doubts, I bet on several similar matches and only on favorites with small odds. Even if several matches do not end in my favor, I do not lose all the money. Of course, the probability of getting rich through this is not high, but the risks are not so high.

And this is the right approach to betting! The only thing is that you need to quickly figure out each match to maximize your chances of winning. The advantage of this approach can also be considered the maximum exclusion of luck, since the betting distance increases, and the knowledge factor has the greatest impact. Therefore, this approach is really very similar to diversification, which I personally use only in trading.

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Quote from: taufik123 on October 11, 2024, 03:44:38 AM

Quote from: dansus021 on October 10, 2024, 02:46:03 AM

First of all I never bet big beyond a thousand USD but I think whether you have big bet or lower bet that doesn't really mater the only different is amount and if you guess is right then you win the game and you get the money. I saw bunch of people on kick.com that usually bet 1-10K on a single bet and that is a lot of money.

Yes, the amount wagered makes a difference for every gambling player
As you said that seeing a lot of people risking $1k-$10k it's a huge amount, and they're high-end players and indeed they basically have a lot of money.

We as small players who bet only for fun, will not spend that much money just for betting in the casino.

you are right my frenn taufik we small players only do bet for fun and never spend that money in a casino unless we hit million dollar jackpot haha Grin

'

Back-to-topic casinos have limits on individual payouts to avoid catastrophic losses, and some bets have caps on maximum winnings so basically maybe casino had some feature to limit the winning of player to not win more that they can afford

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Quote from: Orpichukwu on October 12, 2024, 04:53:33 PM

Quote from: Dr.Bitcoin_Strange on October 11, 2024, 10:58:00 AM

Well, I really use to feel disappointed when I first started gambling and then I just thought it's something you can put your mind to and become successful after winning too many bets but I got disappointed. First, gambling is not something anyone should handle as a source of income because they can feel disappointed in a game that they thought would go as predicted.

That disappointment always hits differently when the person puts too much hope on the result of the game and makes so many plans for something they have not yet received. When the game goes in the wrong direction, they always get disappointed. At least you are lucky that you realised yourself on time that that's not the way for one to follow up gambling.

The moment you realize and understand that gambling is not a good way to make money, would be the good time for you to set yourself in a different perspective, better to treatgambling as part of your entertainment as it can satisfiy that desire and lust inside you, but you need to have that good control of your emotion to make sure that you'll not going to fall into addiction,

as the level of your hungriness to keep playing will increase as your apetite will keep on aiming to bet more.

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Quote from: Orpichukwu on October 12, 2024, 04:53:33 PM

Quote from: Dr.Bitcoin_Strange on October 11, 2024, 10:58:00 AM

Well, I really use to feel disappointed when I first started gambling and then I just thought it's something you can put your mind to and become successful after winning too many bets but I got disappointed. First, gambling is not something anyone should handle as a source of income because they can feel disappointed in a game that they thought would go as predicted.

That disappointment always hits differently when the person puts too much hope on the result of the game and makes so many plans for something they have not yet received. When the game goes in the wrong direction, they always get disappointed. At least you are lucky that you realised yourself on time that that's not the way for one to follow up gambling.

I have my own personal theory all gamblers in the end realize that, it is a matter of how long it would take and how much money they are willing to throw at the casino and bookies before they realize they have been keeping the wrong mindset about their gambling/betting sessions, one would also wonder what gamblers usually do when they realize they have been wasting money they thought they were going to multiply, the best case scenario is us getting our feet onto the ground, bitting the bullet of reality and taking those losses as permanents, others who will stay in denial would unfortunately continue to try getting their money back, we all now how the latter scenario usually ends up.

From the very beginning, all gamblers (specially those who have little to no experience in this world) are in need to see casinos and bookies for what they are: businesses/companies and all sustainable businesses are profitable. No exception.

Topic: An analogy in gambling. - page 2. (Read 959 times)