Topic: Greed or risk - page 18. (Read 2870 times)

It's his money. It's his decision. You can't just tell someone a greedy person, even if that person is your friend. He has his own reason to bet that much. You can try to make him change his mind, advise him, or correct him, but you can't judge him. If he doesn't understand the mistakes he is making, I'm sure your words won't matter anyway. Most of the time, it's not the risk or greed. It's an addiction that all gamblers have. It's the worst kind of addiction one can have. Believe me, I know, I have been there.

Is your friend a professional gambler or just someone who gambles just for fun?

Will always depend on your next move.
It is not greedy to best a huge amount ‘coz for sure you know to yourself the consequences of doing so. Greed is indeed when you already won but is seeking for more or that you will do it again hoping to get the same result. Point is to play it safely as much as possible. Everyone’s free to take the risk of betting huge but always make sure that it’ll be an amount inside your betting and losing tolerance. There are just people who o ly embraces the risk but never the consequences. Either you win or lose, what would matter the most is how well would you be in any outcome?

That's right, there's no reason for you to keep chasing the win by increasing your playing time and increasing your budget because there's absolutely no guarantee of winning. It's really just about luck and whether or not you get lucky in your sessions, the fact is that one can never know when they're going to get lucky and walk away with a win, if it was predictable then there wouldn't be gamblers who suffer so many losses.

Taking a risk that you can be responsible for a bad result is better than putting a large amount out of greed and assuming that the winnings will be greater, the question is what if you lose? Yes you will be silent and maybe cry. So there is no reason whatsoever for you to chase victory and be greedy, everything goes randomly based on individual luck, there are no guarantees and certainties. You should pay attention to this statement it seems.

To me cashing out depends on the game but I don't normally see cash out as best option. That's why I don't like checking my bets when I have placed them. Whenever I placed a bet, I use to assume that the money has gone or might in return in fold but cashing out is not part of plan. I don't want anything to tempt me. Seeing cashing seems to make one confuse and make you to think too much with assumption of what to do with the money and some time before you should even conclude your decision, the game has changed direction again.

Instead of thinking about it as money that's yours, you could think of it as a number on a screen. That way, you can make a more rational decision about whether to cash out or not. So, I would just allow the game to settle itself and free myself from thinking on whether I am being greedy, I already took the risk.

I don't consider that as greed especially if the cash out isn't up to your capital you actually staked with, cashing out below your stake is still loss but I'd the cash out is above your stake and you think the game may end against your prediction I think it's safer to cash out.

Gambling generally is all about risk, even staking such amount on a single game it's risk, so for you to win, you must be willing to take some amount of risk as if you don't risk anything you don't win or loose anything aswell, that game I'm sure did went in his favourite because Madrid wom against Barcelona so he was rewarded from his risk. It's most reasonable with game you have some level of certainty with.

I don't get how some gamblers have so much confidence to stake huge amount of money on a single game. The risk is high and to make the ticket worse, he bet on a game that is highly competitive, match like Elclasico is not something I will want to put huge amount of money on, the odds might he tempting as he was given a straight win of Real Madrid over Barcelona but when the match began, it was Barcelona that open the match with a goal, I wonder how tense he will be during that match.

Risk to ratio should always be far >>> than the amount you are trying to stake in match. Like staking 100k in any amount to get 270k is too risky for me but I can stake low amount on such type of single games because even anything should later happen to my prediction, I will not feel any pain of losing money. If I even go high in this kind of situation, then I will know that I have exceeded my limit of gambling, not longer for fun but waste of my resources.

There is a chance that the allure of gambling holds the mind like a vice, blocking out logical thought with the allure of winning. This idea of protection, or rather the lack of it, at the start does make you think.

what does it really mean to "run away" after a win? Is it a show of how strong you are or just a short-lived victory over your natural greed? Furthermore, it is clear that the casino is keeping this loop going because it wants to make money. It makes you think about who is responsible and the constant battle between doing the right thing and making money. Indeed, a very complicated fabric.

That was pure luck, and for me he just take the risk and that risk was worth it. If he has to take another risk I can call that a greedy move. If I was the one won that amount I will surely cash it out because that is enough for me and my family to survive.

That's what we have to do when gambling, but unfortunately, that's not the case because what happens is that if someone loses, he will tend to continue gambling by depositing his money again if he has run out of money. If he still had money, he would probably use all his money to try to recover his losses. But he didn't have a bigger chance because this was a gamble where one wouldn't be able to win easily. They must accept that they have lost, and it is better to end the gambling game and rest immediately. By doing this, at least they have reduced their desire to continue gambling and can think about what has happened to them so that they can control their gambling more in the future.

That's quite reasonable, it's true that basically everyone has greed in themselves and for the problem of whether they will be greedy or not in gambling it depends on whether or not the person is addicted, as you said usually greed will occur or be applied by those who are already addicted to a certain level, it is quite difficult to think rationally when they are already addicted because all their thoughts have been instigated by all the temptations that exist in gambling, so maybe I wouldn't blame them too much if they were greedy because it's natural if someone is already in the addiction phase. It's because they're late to the party in terms of prevention at the beginning of their entry into gambling, always overestimating the odds that are clearly uncertain so they unknowingly enter into their addiction.

Running away when they have won maybe that will only be able to be done by those who are not addicted at all, meaning that whose mindset is still quite healthy in viewing gambling which is only about luck, they realize that even if they continue gambling it is not certain they can win again. And yes for casinos, they definitely want gamblers to keep playing because after all, their defeat is a profit for the casino, that's their priority.

I think this algorithm of emotions works if a person has an addiction (of varying degrees), because if you take simple human instincts/logic, then if you win something, then you need to take it and run away. If you lose, all the more you need to run away because losses are harmful and a person always wants to avoid losses. That is why the main efforts of the casino are aimed at ensuring that players remain in the game for as long as possible because this will cause them to become addicted.

Greed will always come to you, whatever the results you receive from gambling. If you win, greed will become even greater. And if you lose, greed will also tell you to play one more round, and if you still lose, greed will keep telling you to try again and again. People who do not control themselves will fall into the trap of greed, and they will not realize that it is a mistake they should avoid. At the same time, experienced gamblers will know that greed is already trying to tempt them, but they are not tempted to continue even if they lose. They better stop gambling for the day and leave the casino. Maybe they will return to the casino a few days later, but they don't try to recover their losses because they think that yesterday is over, and they now want to gamble for fun.

Correct that it is very lucky for any one to have that huge Bet slip , never that i experienced such amount for my many years of gambling in crypto or even in any online gambling . (maybe because I am small roller/bettor)

If this is mine , for sure I have already cash out that amount and Bought Bitcoin for the coming halving.
that how smart we must be because there is no continues win in gambling , instead we are all destined to lose so when having this opportunity then grab the win and go home.
that is the confidence we need , but this confidence is mostly the reason why we are losing in gambling  

Out of 100 people who gamble maybe I will make sure that 80 of them are greedy gamblers, even though they may initially come with the intention of seeking entertainment only but that does not mean it is impossible that in the end there will be a time when they apply their greed, not always in a conscious position but usually they will do it when in an unconscious position, such as for example a very good spin that gives them a win and in such conditions it is certain that sensation and pleasure are enveloping their minds so that they unconsciously apply greed because they think that this is a good opportunity to win in a larger amount. Even though on the other hand there is no guarantee whatsoever for you to win there.

And on the other hand if they are in that condition then yes it is very possible that some of the limits they have previously prepared will not be useful, they will not remember that and all that is on their mind is a big win. The point is that if someone is greedy then they will forget everything, especially the enormous risks that are there. Therefore, I think it is better to gamble normally, if you have won then it is better to withdraw and enjoy the money, rather than being greedy and then finally regretting it because the final result turns out to be worse.

I couldn't agree more! You made a good point. I think that all of these boils down on one idea that we have different beliefs and that we perceive gambling differently. And we cannot name someone as 'greedy' just because his/her belief is different than yours. We all have different goals and reasons why we engage in gambling activities. If you wanted to make more money, then be as greedy as you want as long as you held yourself accountable from what can be the result of that greediness. You love taking risk? then do it because no one can tell you otherwise. Or are you someone who wanted to play safe? then might as well be it, because that's your own money and don't let other people tell you that you are boring because you are not that type of gambler who loves taking risks. What I mean is, we all have different playing styles and goals. What we can do is to just let people enjoy things and let them decide for themselves.

Gambling involves both greed and risk since your friend has bet he has taken risk because he has earned a lot. A person is not lucky every time he is really lucky even after betting so much no one can guarantee a win in gambling maybe he knows the right gambling strategies. An experienced gambler analyzes the market and takes risks. He probably has a lot of confidence that he will win this time so he is taking a risky bet so that he doesn't have to regret it later. Maybe he thinks that this kind of opportunity doesn't come often not everyone will take as much risk as your friend and everyone will cash out after winning.

I think there is a misinterpretation from your image and the amount to cash out. That ticket was only a single match between Barcelona and Real Madrid bet which means tbe player staked ₦1,000,000 which is equivalent to $865 in dollar according to today's rate and expect Real Madrid to win as an away match of 2.74 odd. The potential win that player is expecting is ₦2,730,000 which is almost 3X amount of what was staked for that game.

You are not going to know amount that you can cashout until you touch "cashout" option, that's when you can cashout some amount and the cashout is dependent on how favorable your game has been. Since he bet on Real Madrid, they were winning toward the 70+ minute, if he want to cash out some amount, he will be allow but will be slightly higher than his staked amount. However, if Real Madrid was losing in that match and you feel like cashing out, you might get half the amount you staked. That's how cashout works.

Coming back why people cashout is all about how you feel along the way on your games. Some people don't mind to see their money gone because they believe so much in their predictions, they don't cashout even if they see cashout options in their tickets.

This is an individual choice and you will probably make different decisions in different situations, but whatever you choose, you should remember that when you cash out, the casino takes an additional margin from you. From a mathematical point of view, it is better to take a risk and find out whether the bet will work or not.
But of course, if this is a huge amount that you are risking once in your life (in this case, mathematical calculations regarding optimal behavioral strategies are not important), then it is better to make a cash out.

There are two sides to the story as there are two sides to the coin flip.Most gamblers would cash out that amount as most gamblers have not that huge amount of money to gamble with as a beginning and to them this bet slip may look like a one in a lifetime opportunity so if they were in the place of the bettor they would cash it out and be very happy about it.

The other side is that if the bettor has enough money only greed can be applied to it if  he let it run risking big to lose money,the one that bring huge risks is the greed but most likely the bettor applies in life the statement "huge risk,huge reward" and as such he does not cash out.

Well, most of the gamblers tends to be greedy especially if the desire to win is in peak, To the point thaf they will forget all the limitations and bounderies that they've set into theirself. Risk and being greedy has a difference because being greedy is you're not sure on what you are doing, what's on your mind is to gamble and to win, however when it comes to risk, you are aware on your decision and you think it so many time before you proceed on your plan.