Avoid Miscalculated Risks In Gambling. - page 3.

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Quote from: MainIbem on June 21, 2024, 05:23:51 AM

Taking unnecessary risk in gambling is mostly done by ignorant people, or those that are newly into the system

In my opinion, there is no unnecessary risk, because all risks are the same, whether when betting on high or low odds, the chance is still 50/50, the bettor is only trying to increase his chances of winning by analyzing the match, but still doesn't rule out the possibility of losing.
When someone bets at high odds which makes it appear that he is taking a higher risk to gain a profit, it is not because he is ignorant because it could be that the amount he is betting is smaller than what he usually bets or because he sees that there is a chance to win. I have won with odds of 20.00 but have also lost at odds below 1.50, even this is more often because bettors will often choose the commonly chosen odds compared to high odds, but low odds can also lose so bettors will lose more often at odds like that, only occasionally at high odds but sometimes you can win.

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Quote from: $weetne$$ on June 22, 2024, 02:12:39 AM

Quote from: MainIbem on June 21, 2024, 05:23:51 AM

Taking unnecessary risk in gambling is mostly done by ignorant people, or those that are newly into the system, well it's understandable because they're ignorant of the risk management of gambling, but what baffles me is seeing experts taking unnecessary risk like betting heavily on risky odds, I consider that unwise cause no matter how rich one is you don't go wasting money all in the name of taking risks. we all know that in event where winning is a 50/50 chance one is required to bet wisely right? Then I wonder why some people would bet heavily on odds above 5 points, some would even risk all their profits to make more profits.

Addiction, people who always do this are not doing it because they think it is the best way for betting, they are doing it because they are addicted and they can not help it but continue to gamble until they have lost everything that they have then go broke. Addiction is what make some people that you would be excepting them to know the rules of gambling and know how they can be very professional and make it very profitable yet you see them always struggling to keep up despite having alot of experience and money from gambling. Taking calculated risk helps in risk management and if you are gambling without being considerate about the money that you are wasting, you are not going to have a successful gambling career.

There will be no success in gambling, I know some gamblers who became instantly rich because they are lucky enough to hit a jackpot that make their lives upside down, but that is not the case to all gamblers, many gamblers are having a false hope of they might someday hit a jackpot when they keep on gambling but that is the mistake and the trap to most of the gamblers that has that mindset and eventually they will develop bad traits such as addiction or desperation making them to keep on playing, which they are not being aware of their current situation and later on will notice it when its too late. Gambling can be a source of miracle and also misery, so if you know you are not lucky then dont keep on hoping to eventually have a good life because of gambling, so better know your limit and stand in life before you get too emersed in playing gambling.

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Quote from: Jawhead999 on June 21, 2024, 08:46:58 AM

Why it sounds like betting on high odds is wrong? there are nothing wrong if you bet on high odds, many people feel entertained when they bet on high odds since it will be exciting if they won. Actually, I don't like to bet on low odds because I only bet small amount of money, many people bet on low odds with big capital.

Actually, most people didn't even calculate the risk before they gamble.

It only sounds but you are right that there is nothing wrong with it. Even if there are people who say it is wrong, we should ignore them if betting in high odds is what our heart says. Apart from winning, the excitement can also come when hunting those huge multipliers in game.

We know that our chance is only small but something tells us that they are now along the way and we can get them in no time. I think most of us are playing with sufficient amount, so if you bet on low odds game, you still can win decently but the action here are fast paced and we may not enjoy it very well. If you are playing with the same capital, you already know the risk involved, so there is no need for you to calculate it again.

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Quote from: _BlackStar on June 21, 2024, 05:05:13 PM

In general – when a gambler has a high imagination of winning big, then they will find it difficult to have the right mindset. Greed has led them to the point where they ultimately fail to make wise decisions – this is the beginning of destruction. What's worse - they never even consider those small wins worth achieving, which means they no longer have any value at all to them.

Greed is the main problem, everyone has a greedy nature but has their own level.
I have also been in a moment where the victory has been achieved with a fairly large jackpot,

but unfortunately that greedy nature arises that in the end I risk the victory that I should have taken.
In the end it was just a defeat and only half the victory I could have saved.

It's hard to overcome that greed if it's already at the top, making impulsive bets like I said will give bad results.

Small wins will indeed be worthless and even only hope for big wins, even though small wins obtained repeatedly will be better.

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Quote from: MainIbem on June 21, 2024, 05:23:51 AM

Taking unnecessary risk in gambling is mostly done by ignorant people, or those that are newly into the system, well it's understandable because they're ignorant of the risk management of gambling, but what baffles me is seeing experts taking unnecessary risk like betting heavily on risky odds, I consider that unwise cause no matter how rich one is you don't go wasting money all in the name of taking risks. we all know that in event where winning is a 50/50 chance one is required to bet wisely right? Then I wonder why some people would bet heavily on odds above 5 points, some would even risk all their profits to make more profits.

Addiction, people who always do this are not doing it because they think it is the best way for betting, they are doing it because they are addicted and they can not help it but continue to gamble until they have lost everything that they have then go broke. Addiction is what make some people that you would be excepting them to know the rules of gambling and know how they can be very professional and make it very profitable yet you see them always struggling to keep up despite having alot of experience and money from gambling. Taking calculated risk helps in risk management and if you are gambling without being considerate about the money that you are wasting, you are not going to have a successful gambling career.

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In fact, it is always very difficult to calculate risk. Risk can only be calculated using the roughest parameters. For example, we play roulette and bet on red. At the same time, our risk is the probability that the roulette will point to black sectors or Zero sectors. But in the case of sports betting, it is more difficult to calculate the risk. If two football teams play each other, how can one calculate the chances of one of them winning or the risks of the other losing? We will have to analyze many factors that could influence the outcome of the match. The strength of the players present at the match, the qualifications of the coaches, the presence of injuries to the players, the level of their coordination among themselves, the strategy that the teams use, and so on. All these factors are fuzzy, their meaning is blurred.

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The problem here is that no one can calculate correctly what the chance at concrete bet is - whether it is 50/50 or 1/99. Thus in most cases we bet intuitively rather than on a hard-boiled appraisal of the situation particularly relevant to sport events. Thus I would not dramatize the matter. Take Drake's bet on Fury vs Usyk. He loosed that bet but was close to get the prize until nine round of fight but after the nine the luck turned the back on him.

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OP, you cannot know the entire financial history of the person who wants to risk a large sum. What seems huge to you may be small to others. Alas, such is life—the poor dream of winning the amount that others, without hesitation, want to throw away. Therefore, you should always look only at yourself and consider your spending; otherwise, it seems like envy. Moreover, there is no need to give advice when you are not asked; this is one of the traits of a decent person.

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Quote from: ralle14 on June 21, 2024, 09:10:00 PM

Quote from: Upgrade00 on June 21, 2024, 05:36:37 AM

I've never heard "expert" being used in gambling.

You'll mostly see that term with paid tipsters, and i'd always view them with a grain of salt because it takes time to spot a bettor who knows their stuff.

They should be always taken with a grain of salt. If they're good tipsters and able to get you some wins.

Look at their accuracy because not all of them will have good predictions and accuracy. Because if they are good with it, they're going to keep their tips to themselves and win it on their own.

But no, they're making money from the shares or tips that they're giving to their communities.

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Quote from: mirakal on June 21, 2024, 05:36:42 PM

if there are possible experts in gambling, then they will never experience losses at some point. As much as there are gambling professionals, but they are still prone to some losses which is inevitable in gambling. Gambling is all about luck and being responsible in gambling, otherwise if you are seeing gambling the opposite way, you will never gain profits but will surely end up with consistent losses.

Those who feels experts will not always wins because gambling can not gives the wins to them. They will lose their money if they can't control themselves and don't knows how to manage the risks.
Playing gambling will gives risks to them so they must know how to reduce the risks not to be bigger. Gambling needs luck to wins so that makes you must have responsibility to playing gambling and avoids the big lose.
What gamblers needs when playing gambling is take care of themselves and their money because they will lose their money if they lose control. Don't get tempts by the promotions from the casino and always use limitation to reduce the big risks.

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Quote from: MainIbem on June 21, 2024, 05:23:51 AM

Taking unnecessary risk in gambling is mostly done by ignorant people, or those that are newly into the system,

not only ignorant but also DESPERATE and addicted gamblers mate As we knew that gamblers does not really understand what gambling lies in everything.

Quote

these are what is expected from a gambler who wants to be successful, not taking unnecessary risks.

success in gambling is truly a little chance because what we can surely achieve here is to enjoy and have fun while gambling .

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Quote from: Upgrade00 on June 21, 2024, 05:36:37 AM

I've never heard "expert" being used in gambling.

You'll mostly see that term with paid tipsters, and i'd always view them with a grain of salt because it takes time to spot a bettor who knows their stuff.

Quote from: MainIbem on June 21, 2024, 05:23:51 AM

The aim of one who wants to be successful in gambling shouldn't be to waste money in the name of taking risks, it's avoiding numerous loses and spending wisely even if you want to take risks it should be calculated risks not risking all your profits to make more profits.

Even though most gamblers know these tips, they tend to struggle when it comes to following certain limits, and maintaining that consistency requires a lot of patience.

Anyway, I don't see the problem in siding with the underdogs once in a while because we sometimes view matches differently from the odds provider. They also make mistakes in setting the correct odds, and those mistakes only push them to set the odds more accurately so it's usually best to take these rare underdog opportunities whenever they show up.

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Quote from: Upgrade00 on June 21, 2024, 05:36:37 AM

Quote from: MainIbem on June 21, 2024, 05:23:51 AM

but what baffles me is seeing experts taking unnecessary risk like betting heavily on risky odds,

I've never heard "expert" being used in gambling. If you consider someone to be an expert, then you should assume they know what they are doing and should eve be taking notes from then and applying that with amounts you can afford to lose not what they staked.

Gamble responsibly.

You know, if there are possible experts in gambling, then they will never experience losses at some point. As much as there are gambling professionals, but they are still prone to some losses which is inevitable in gambling. Gambling is all about luck and being responsible in gambling, otherwise if you are seeing gambling the opposite way, you will never gain profits but will surely end up with consistent losses.

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Quote from: MainIbem on June 21, 2024, 05:23:51 AM

Taking unnecessary risk in gambling is mostly done by ignorant people, or those that are newly into the system, well it's understandable because they're ignorant of the risk management of gambling, but what baffles me is seeing experts taking unnecessary risk like betting heavily on risky odds, I consider that unwise cause no matter how rich one is you don't go wasting money all in the name of taking risks. we all know that in event where winning is a 50/50 chance one is required to bet wisely right?

I don't think that "rich" people are stupid or incompetent.
In my circle of friends and professionals, I don't have direct contact with people who have high purchasing power, but I've still seen people I know who waste money on frivolous things, many of which they use only once in their lives and then throw away, or they even buy expensive tickets for shows or events they don't like and never go to.

Anyway, the richer these people are, the less value they give to money, and it's no different when it comes to gambling... they're certainly aware that they'll probably lose everything in a risky bet, but they don't care about that: If they lose, that's fine, but if they win, they'll multiply their balance. It's much more about the thrill of betting.

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Contrary to what OP said, there's a popular saying in the world of crypto and gambling that if you don't take risks, you won't be rich. I find that most of the people who made it so far in crypto and gambling did so out of the sheer sense of taking unprecedented risks — risks that involved very little calculations. Basically an "ape in first, calculate later" type of risks and it worked out for them. While people that took out that to take calculated risks that are often on smaller odds and bet "safer" ended up average in the long run. I personally believe that one has to find out what works for them and stick with it.

Not everyone can be a conservative or aggressive risk taker. Get your rhythm and use it to the best of your advantage.

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Quote from: MainIbem on June 21, 2024, 05:23:51 AM

The aim of one who wants to be successful in gambling shouldn't be to waste money in the name of taking risks, it's avoiding numerous loses and spending wisely even if you want to take risks it should be calculated risks not risking all your profits to make more profits.

Even if you say this for several times, it's easy to spit out these words but when you're in the actuality, they all change. We all aim to be winners, to become successful with all of our bets. But you know that it's not going to happen easy. You may become a winner today but not anymore tomorrow so, they all change and that's why gambling is uncertain. You can have a goal today and tomorrow but don't expect that it's going to be stagnant and you'll be able to achieve that nice and easy.

No way, I'd agree about having calculated risk and that's normal in investing. But in gambling, you'll not be able to avoid these moments that you're able to miscalculate the risks. Because the risk here changes over time and you might not be able to compute them, to be honest. And for that reason, if you're a gambler and having fun with what you do. There is only one thing that you have to remember and that is to gamble what you can afford to lose.

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Quote from: MainIbem on June 21, 2024, 05:23:51 AM

we all know that in event where winning is a 50/50 chance one is required to bet wisely right? Then I wonder why some people would bet heavily on odds above 5 points, some would even risk all their profits to make more profits.

Does it also occur to you that placing a bet with low odds does not necessarily guarantee the outcome of that bet to come out positive? We also have high odds, which could even amount to the same 5 odds you used.

For example, you can still pick and place a single bet on such a game and come out successful. All that matters is that the gambler knows what tactics he or she has decided to use.

It's better to pick a single game of high odds than to pick multiple games of low odds, combine them together, and place them as a single bet, which most people do on sports betting, as I see that as something that has a greater risk than a single bet.

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Quote from: MainIbem on June 21, 2024, 05:23:51 AM

Taking unnecessary risk in gambling is mostly done by ignorant people, or those that are newly into the system, well it's understandable because they're ignorant of the risk management of gambling, but what baffles me is seeing experts taking unnecessary risk like betting heavily on risky odds, I consider that unwise cause no matter how rich one is you don't go wasting money all in the name of taking risks. we all know that in event where winning is a 50/50 chance one is required to bet wisely right? Then I wonder why some people would bet heavily on odds above 5 points, some would even risk all their profits to make more profits. The aim of one who wants to be successful in gambling shouldn't be to waste money in the name of taking risks, it's avoiding numerous loses and spending wisely even if you want to take risks it should be calculated risks not risking all your profits to make more profits. Stick to your limits, bet on low risk odds, take profits and don't bet all your profits one very risky odds, and most importantly bet on what you can afford to lose, these are what is expected from a gambler who wants to be successful, not taking unnecessary risks.

I think about those gamblers in the same way I think about shitcoin investors, because the reason they are taking such huge risks are the same, they want to take those long shots because they think this is the way they can multiply their money quickly, however while this would be true if they could get their desired outcome, chances are that they will fail at this, and once they lose so much money they will get even more desperate to get it back, forcing them to take even more risky bets, until they lose the rest of their capital.

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Quote from: taufik123 on June 21, 2024, 04:33:38 PM

Quote from: Questat on June 21, 2024, 09:03:33 AM

-snip-

The ability to manage money effectively or bankroll management is indeed quite important,
not only in gambling, but in all sectors that involve money and investment.

One of the reasons many of the gamblers do not get maximum profits is due to the lack of money management they do.
They tend to make bets that are too impulsive without considering how the risk will be, not just about betting on high odds.

In general – when a gambler has a high imagination of winning big, then they will find it difficult to have the right mindset. Greed has led them to the point where they ultimately fail to make wise decisions – this is the beginning of destruction. What's worse - they never even consider those small wins worth achieving, which means they no longer have any value at all to them.

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Quote from: MainIbem on June 21, 2024, 05:23:51 AM

Taking unnecessary risk in gambling is mostly done by ignorant people, or those that are newly into the system, well it's understandable because they're ignorant of the risk management of gambling, but what baffles me is seeing experts taking unnecessary risk like betting heavily on risky odds, I consider that unwise cause no matter how rich one is you don't go wasting money all in the name of taking risks. we all know that in event where winning is a 50/50 chance one is required to bet wisely right? Then I wonder why some people would bet heavily on odds above 5 points, some would even risk all their profits to make more profits. The aim of one who wants to be successful in gambling shouldn't be to waste money in the name of taking risks, it's avoiding numerous loses and spending wisely even if you want to take risks it should be calculated risks not risking all your profits to make more profits. Stick to your limits, bet on low risk odds, take profits and don't bet all your profits one very risky odds, and most importantly bet on what you can afford to lose, these are what is expected from a gambler who wants to be successful, not taking unnecessary risks.

In many cases, individuals who are less experienced or new to the system tend to take unnecessary risks. While this behavior is indeed irrational, it is also understandable from a psychological standpoint as novice players may not be well-versed in proper risk management principles specific to gambling.

Yet it is even more bewildering when we observe professionals or seasoned participants plunging headlong into highly precarious ventures. No matter how affluent an individual may be, squandering one's wealth under the guise of risk-taking defies all logic. At the core of any gambling activity lies this cardinal rule: only stake an amount that you are willing to part with and do so astutely. Quite simply, gamble wisely.

Playing odds with a success rate above 5 points and staking the entirety of profits in pursuit of greater spoils is fraught with risk. An alternative approach would involve establishing boundaries, wagering on low-risk probabilities, and adopting a prudent attitude towards gains, as opposed to plunging everything into one high-stakes gamble. Such a strategy would act as a deterrent against substantial losses and pave the way for sustained prosperity through gambling endeavors.

Topic: Avoid Miscalculated Risks In Gambling. - page 3. (Read 549 times)