Topic: Avoid Miscalculated Risks In Gambling. (Read 549 times)

There are alot of folks that don't actually know the risk attached in gambling, because of their mindset that they have concerning gambling, because alot of people sees gambling as means to get rich quick, and to make easy money by just staking a particular amount of money.

Which are all wrong mindsets , because in gambling is all about entrainment and having fun when earning an extra buck when you win . Not something you can just be doing all day and start earning, nahhh is all boils down to how to luck so ain't something that's certain.

Yeah it is true.
Novice gamblers don't know about the risk, even if they does they don't understand how to get rid of emotion while they experience some losses. However the only way to get rid of emotions is by gambling for fun. Without this, as they experienced losses they will definitely be depressed and decide to chase their losses.
Well, it is not every gamblers that gambles for fun that is why we have some gamblers that are addicted to gamble.
The truth is that novice gamblers should understand the meaning of gambling and how to manage risk.

You are speaking the truth because for someone who has not understood that they are going to lose if the engage in gambling, they will be feeling bad when it happens but for those that know that losing is something they can not escape from then they will embrace it and not feel bad when it happens. There is no how that you can calculate your risk and you will not have some games that you lose. There is no game that can guarantee you success every time you play but there are games that you can be lucky at and be winning most of the time. You can decide to pay more of those games and keep winning regardless of how small the profits are then to be losing on other games because of being greedy and looking for bigger profits, doing this you have calculated your risk very well.

Well, for those people who are ignorant of risk management, they are the foolish ones in the gambling world. The bets show no mercy to them and take all of their money. The first group is ignorant; why do they gamble when they don't know anything about it and place bets in the thousands, only to lose money? There are no seats for them until they understand gambling. The second group consists of those who do not care about risk management. I think they are both the same because they will only lose money and nothing else.

There are many gamblers who have millions of dollars, and they do not care about it and continue gambling. They are the upper class, and we cannot compete with them because the money they lose in all their bets can be recovered in a single bet due to the huge amounts involved. But why do other gamblers follow in their footsteps and do the same? They have to understand that following others will only lead to unprofitability and loss of money; in fact, they can avoid this ,calculate their risk effeciently and do the gambling as per their understanding and level .

Emotions are hard to control and that is what makes those person to go taking unnecessary risks because of it. They are euphoric to say the least, if they win some good amount in a slot machine like for example they buy the bonus with 2.5 dollars and got an over 100 dollar win with that bet they simply become euphoric and this is the most dangerous moment which takes people to take more risks and they don't really think cold headed about the consequences, I personally have been in this example to many times and despite losing all after winning that 100 dollar with 2.5 dollar greed and euphoria got the best out of me until I lost it all, I have lost several occasions like that and I don't call it unnecessary risk rather I call it "the fight for the max win" as I chase it while losing eveyrthing.

The same can be said about people losing in sport bets example like you have provided, it is all because of the emotions which we can't control.

That's the theory, in fact, you can see many novice gamblers who are finally also interested in gambling without knowledge of the risks. the risk of losing gamblers must know, but mentally they may not be ready to accept the loss.

We ourselves will determine what kind of gambler we want to be. looking for victory with great risk, or enjoying a longer game with a smaller bet.
Every gambler is ready for loss, but gamblers do not gamble for loss. greater hope of gamblers to win what is at stake than their mental readiness to accept loss.

It's well known that gambling is all about risk and if you don't want to take risk you should not involve in gambling, because gambling is basically meant for people who understand risk, that's why it's not good to push someone into something it has not make up his mind to do, I don't know for any person or anyone, gambling is basically for people who is determined not for people who is biased, because if you are biased in gambling you will always experiencing default in gambling, that's why I always say that gambling is for people who understand it and also people who ready to experience loss

Its not bad on making up some strategies but somehow it would really be that just that depending on how they would really be treated it out because there are people who do really believe that it do works not until they would bust up badly.Its not really that wrong to have some strategies because we would really be having that prolong duration when it comes to gambling or we do really love to cherish out those times or moments
and thats why we do really our best on extracting our capital for such longer duration. When it comes to calculated risks then it would be pertaining about on the capital that you do have and its something that will be basing up on how well you would really be handling up such capital for you to be able to play longer but if you are someone whose really that loving on having that kind of all in kind of betting then dont expect
that you would really be that lasting up on the very end.

When doing gambling and you do really want to make out most of it when it comes to leisure and without affecting your finances then you should really be having this kind of approach.
Never tend to make yourself that delusional because on the moment that you would really be having that kind of thinking about betting all in to win big then its actually true but its
not something recommended if you are really that wanting to play even further.

Usually the wins are proportional to the odds. If you have $100 bet and it's 50% chance, you'll double the money, but if you choose a bet where there's 40%, you'll end up with more money, $220 or even more because the reward can grow exponentially with extremely low odds. Some people just see the reward and don't understand haw hard obtaining it is going to be.

Bet the way you like. If you want to make tons of money with low initial bet, play the lottery, or bet on super underdogs.

Not really, those who are gambling for fun, they also need to calculate and manage their risks otherwise they can lose too much which trying to have fun in gambling. Risk calculation and portfolio management is the most important thing in gambling and most gamblers usually do not take this seriously.

This topic cannot be overemphasized, it seems people don't always listen until they learn the hard way. Gambling is a 50/50 thing but some people have the idea that they can come up with a strategy that works. Most people especially newbies stake a high amount of money just because they subscribed to get that game from so called betting experts and at the end of everything they lose all their money. Always gamble responsibly, staking high on little odds doesn't give you a guarantee of winning, always stake what you can afford to lose

           -       It should be because, as long as possible, what we lose in gambling is limited, especially if you are the type of gambler who only depends on luck to get a profit in any casino gambling.

Because if we can't study these things well, then we really can't control the amount we can lose playing gambling in reality.

As long as we have fun with betting, any kind of bet will do. Whether it's a parlay or betting on high odds with obviously low chances of winning is fine as long as it fits within our budget. It’s understandable if some people have this kind of betting pattern because many sports bettors don’t have a serious bankroll. They’ll take chances and try to grow their bankroll in a risky way, which often leads to losses.

I know we’re aware of the risks, but we still take them for the chance at a bigger reward.

If you can not responsible with what you do in gambling, you will only lose your money and makes you regret when you aware. But that will be too late since you already lose your money in gambling.
That is why we must be careful when calculate the risks and not doing that in rush because that will make a miscalculated risks in gambling. The risks will become big while we can not handle the risks which will gives more losses.
When that happen, we can directly stop gambling immediately to prevent more losses although we already lost the money. But we can prevent the next losses that may happen.

You are correct, a luck factor is always going to have a huge impact and can wipe out the entire balance or double it back. Whatever analysis we do end of the day we are depending on our luck to shine and that thrill is what keeps gamblers addicted.

It is a lucky bet indeed. Who would have thought that United would have won against City? These things we can never predict correctly and putting money on them means risking it. Those who can take that risk should go forward but not everyone. No such thing as "miscalculation" here - if the calculation was perfect, these casinos would never exist.

Everyone doesn't have the same financial capacity, there people that can take big risks and still won't feel like they have  lost a big deal, To be honest it's more heart breaking when you carefully analyze a game and at the end of the day the game still goes sideways..over the years I've learnt that it's not always About calculations a lot of luck too is also involved, a friend of mine placed a bet of 1.5 Million naira on Manchester united to win man city last season, many people would call that a miscalculated risk because man city was in a better form and the odds were in favour of them considering the fact that they had home advantage but guess what, Manchester united won the game.. sometimes those miscalculated risks are worth taking

Let me ask OP, what is your definition of success in gambling. then, does this also apply to all types of gambling, be it sportsbooks or casino games. for me, success in gambling is difficult to describe. because, whatever type of gambling contains risks in it. every game or bet we make, contains risks in it. nothing is completely risk-free, even from the beginning we deposit money, the risk of losing is something that is certain. for me, this is the consequence of gambling. every action we take, whatever the gambling is always risky. that's why, how do we succeed in gambling. is it always winning bets every time you do it, or in every session by taking the idea of ​​​​risk that does not need to guarantee that we can win it. of course not, because theoretically this is how gambling works.

But I try to understand the meaning behind your thread, then I try to interpret it. I don't have the right answer in general, what is certain is that every gambler has different ways and understandings. I am interested in the words "taking unnecessary risks", in other words not making bets. so, we avoid risks. but the point is not really what you mean, I understand if you prefer to be wise in every decision to bet or gamble. the problem is, we can't know the way of thinking and gambling methods of every gambler and we can't apply the ideas that we apply as you mean in this thread. but, I appreciate you for sharing a thought or idea in this discussion.

Even if you are betting on your favourite team or on an underdog team in both cases you are taking the risk and no bet is risk free. I think the calculations for the miscalculations here referred to the money that gambler place in each bet and in each gambling game and the percentage of the overall portfolio for gambling and stuff like this.
 It is basically the money 💰 management that needs to to taken care of. 

Taking risks in gambling such as picking lower influencing teams to win higher teams on sports games is normal as every stakes and predictions are risky because possibilities to win is 100% unreliable but where it is assumed to be unnecessary risking is when gambling irresponsibly in staking what is not afford to loose either because of over excited experiences or at the course of profiting which could lead to uncontrollable gambling stimulations.

Even a game with small chance of losing, you can still lose because the team played bad or for any other reason in sport betting. You can compare this with the 1.1x bets on dice game, you will lose a bet after some rolls and that loss will be higher than your total wins.

Which means that there is nothing called sureshot wins, you may lose and you definitely will if you keep on taking the chances. Hence there is nothing miscalculated about this, the risk is there and taking the risk means accepting the chance of getting burnt.