Topic: GAMBLING: Skill-based vs. Chance-based - page 2. (Read 2396 times)

Besides the chance, its must that at least one should have enough knowledge in playing the game to avoid loosing lots of amount. Yes, chance do play an important role, however unless and until you are aware of what you playing and how you playing it, there are times, we may loose the chance to win. So chance or luck alone, wont help. It will often lead to loose more. So knowledge on what we are playing will support us to win the game.

I believe whether skill-based it is all the game of chance and one should not think she or he is skilled enough not to loose money in playing gambling. All gambling is a game of chance in my opinion and the analysis provided above by op may just be theatrical even crypto currency trading that is purely skill-based in some situation maybe seen as a game of chance.

They say poker is 100% game of skill in the long run, but since "in the long" is not defined, it could mean hundreds of years and a bankroll of billions USD. So, in reality, I wouldn't call poker a game of pure skill, but I wouldn't go so far to say that luck has 80% and skill has 20%, like some poker players are saying. Imo, the truth is somewhere in the middle: 60% skill, and 40% luck.

Actually both are dangerous (skilled-based and luck-based), the only way to minimize or manage the risk is if you gamble responsibly, no one would survive if they are no responsible as in gambling, you can easily loss all your money and even the money that you are not suppose to gamble.

Updated 05-27-2020
As we are now under community quarantine because of this pandemic virus, we tend to play online games to lessen the boredom we feel at our home, so I wanna know your preference on choosing what gamble to play.

There are two types of gambling for me, the skill-based and the chance-based.
1. Skill-based - these are gambling that requires our skills and techniques for us to win, such as playing poker, betting on races, and playing blackjack but the odds of winning are still different for people and it is always in favor of the owner of the gambling.
Poker
Blackjack
Pai Gow
Texas Shootout
Horse Race Betting
Sports Betting
2. Chance-based - these are gambling that you will only wait for the result, you don't need to do something or to think so deep for you to win because all of you have an equal chance of winning such as roulette, lottery, and other gaming machines.
Casino games:

Slot machines
Progressive bonuses
Bingo
Roulette
Sic Bo
Baccarat

Lottery products:
50/50 raffles
Pull-tabs
Scratch’n win tickets
6/49
BC/49
Lotto Max
Keno
Pacific Hold’em
Source: https://www.bcresponsiblegambling.ca/understanding-gambling/types-gambling

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For me, I will choose the skill-based gambling because I am not hoping for the luck of life, I want to take action to make my life great. It is still better to think logically and analytically at any time.

But if you are only a beginner, I think the chance-based gambling would be suitable for you, but do not stick only on that, you should improve yourself, acquire skills and knowledge through experience so you will be able to play skill-based gambling soon.

If you're careless enough and you allow yourself to be freely losing without doing anything to defend with your money, you're just good as just giving it to the house.
The reason why we're gambling is for different reasons and you have to be serious in all manner whether you do it for fun as it's attached to it and when you lose, you'll just have to think of it that you're enjoying as a relief.

If you're careless enough and you allow yourself to be freely losing without doing anything to defend with your money, you're just good as just giving it to the house.
The reason why we're gambling is for different reasons and you have to be serious in all manner whether you do it for fun as it's attached to it and when you lose, you'll just have to think of it that you're enjoying as a relief.

What I do when playing gambling, I always apply my skills, even though it's 70% luck but at least we shouldn't be careless in gambling but with tactics it is necessary.

They use their knowledge to choose the right team/player/things to bet so they call skill-based gambling games. Like sports betting, they use their analysis to determine which team or player has a big chance to beat their opponent and win. But those gamblers need to know that all will depend on their luck because we do not know what will happen in the middle of the match. The position can replace and the opponent can push their favorite team or player until he surrenders.

Since I dont great in any skill-based gambling games, I just play with my luck like dice and slot machine games. For an example dice, when I play the game I did it with auto feature which make me can play in many different sites and ofc I can leave it for some minutes instead when I played skill-based games.

Honestly, there's no such thing as "skill-based" gambling games, it's still dependent on your luck imo. If they were looking for something they can win by having more knowledge about it, gambling isn't the game for them. Yes, I know what skill-based gambling games are, but those are still called "gambling" games, see my point? They might just be better off playing games like Hearthstone and participating in tournaments and the like.

I'd say Poker is best if you're into Skill based gambling.
Also, there are this hand sign game where u go player vs player and select a hand from Rock, Paper, or Scissor and the best one wins, I could be totally random but if you can read the opponent correctly after a few games then it's quite skilled to win

A gambler who is often playing gambling can have a big obsession to win much money from gambling. But that can prevent by having control over himself to prevent his mind from thinking about his obsession. Self-control will indeed be a must-have for every gambler to prevent anything from becoming worse without controlling it. As long as he does not lose control over himself, he will be okay playing gambling and not worry about losing big money because he will have a chance to prevent that thing happens.

Games in which your winnings depend on your skills are safer for your psyche.  Why are gambling dangerous?  They lead to the development of learned helplessness. 

Acquired helplessness is a state in which a person believes that nothing depends on his actions.  This applies not only to the game itself.  In games, a person masters behavior strategies that he uses in real life.  Learned helplessness can negatively affect all areas of human life. 

It's another matter if gambling is based on human skills.  The player can improve himself and achieve success in gambling. 

This strategy is very useful in all spheres of human life.

It really can happen if the gambler has no good self-control and use inappropriate way in gambling. That's why a gambler must be aware of the risks in gambling and choose the right way to avoid huge losses + addictions. In this matter, both skill-based and chance-based games have the same risks leading people to get poor instantly. If someone is too obsessed with being rich through gambling, he probably ends up losing all money and be stressed. In reality, I have seen many gamblers who ended with bad stories.

It really can happen if the gambler has no good self-control and use inappropriate way in gambling. That's why a gambler must be aware of the risks in gambling and choose the right way to avoid huge losses + addictions. In this matter, both skill-based and chance-based games have the same risks leading people to get poor instantly. If someone is too obsessed with being rich through gambling, he probably ends up losing all money and be stressed. In reality, I have seen many gamblers who ended with bad stories.

There is that old joke about gambling to just illustrate this.There was a king and had a son who started drinking alcohol and the people near the king told him about his son,the king said no problem.The son then started going with women,prostitutes and the king also said there is no problem.When the son started to gamble the king said,stop him immediately as he is going to destroy us all.

This joke illustrates perfectly that gambling does not look at who you are and most people who do not have a great self control can easily fall under addiction from gambling.

Some people will prefer to select skilled-based gambling games as they know more about them than other gambling games. Besides that, they think they will have many chances to win on that skill-based because they already know how to do with the games and try to win. At least, if they can learn more details about the game from many lessons, they can increase their chances to win. But we know that both skilled-based and chances-based have a risk and we should know to prevent the big risk.

There is that old joke about gambling to just illustrate this.There was a king and had a son who started drinking alcohol and the people near the king told him about his son,the king said no problem.The son then started going with women,prostitutes and the king also said there is no problem.When the son started to gamble the king said,stop him immediately as he is going to destroy us all.

This joke illustrates perfectly that gambling does not look at who you are and most people who do not have a great self control can easily fall under addiction from gambling.

I am not pro gambler but for me it depends upon the game you're playing. If I am playing cards tongits, I must manage my card well because it will not always be a good card ahead. My mother plays lotto loke keno and swertres, she has some analizations but failed most of the time. But for me playing lotto is more on luck because we cannot really predict it like dice results. All in all we should still enjoy when we are playing. Choosing what to play and where we think we are good at is also important.