How greedy you are ? - page 76. | Bitcointalksearch.org

magicmexican

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Quote from: koshgel on June 04, 2015, 02:54:08 PM

Most common problem in the gambling world is money management. Going all in/half of the bankroll on single games that are toss-ups at best.

This definitely plays into the hand of greed. If you only bet 1% of your bankroll on each game, you would have to lose a shit ton to go bust. Unfortunately, 99% of the gamblers don't follow this strategy.

The BR management is only a 'problem' if one has the edge to be winning longterm in the first place. A typical losing gambler who is following the 1% rule would just slow down his demise.

But when someone trully has the edge, BR management becomes crucial. I've known quite a bit of "good" poker players and bettors who went broke just because they only had the knowledge and expirience, without having the mental toughness and discipline to absorb the inevitable losses.

Its a pretty tough area to get better at. Exprience helps, but in the end, some people just cant deal with the net loss and can not avoid chasing.

XinXan

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Quote from: vendetahome on June 04, 2015, 03:03:10 PM

Quote from: XinXan on June 04, 2015, 02:26:56 PM

Quote from: 98problems on June 04, 2015, 02:24:42 PM

Quote from: Tongkar on June 04, 2015, 10:32:03 AM

The only winners are the people that don't gamble.

i guess more the ones who gamble with brains, the ones who stop playing while they are still in profit and dont do stupid bets

And who the hell does that?? And by the way there are no stupid or smart bets in dice, it doesnt matter what you bet, nothing is reaally better than anything else, you are just another gambling addict falling into the gamblers fallacy. No one goes to a casino to win a little profit and then never come back again.

as far as i understood he wasnt talking about dice, he was talking about gambling, and also i sometimes quit in time and dont gamble

Talking about gambling? Dice is a form of gambling, he didnt specifiy but dice is gambling so my example still stands. You can make profit on sport bets? Yes you can but in order to make profit someone else has to lose, someone has to be that someone else and it doesnt really matter what type of gamble it is, no one goes to play only 1 game and leave forever.

vendetahome

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Quote from: XinXan on June 04, 2015, 02:26:56 PM

Quote from: 98problems on June 04, 2015, 02:24:42 PM

Quote from: Tongkar on June 04, 2015, 10:32:03 AM

The only winners are the people that don't gamble.

i guess more the ones who gamble with brains, the ones who stop playing while they are still in profit and dont do stupid bets

And who the hell does that?? And by the way there are no stupid or smart bets in dice, it doesnt matter what you bet, nothing is reaally better than anything else, you are just another gambling addict falling into the gamblers fallacy. No one goes to a casino to win a little profit and then never come back again.

as far as i understood he wasnt talking about dice, he was talking about gambling, and also i sometimes quit in time and dont gamble

koshgel

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Most common problem in the gambling world is money management. Going all in/half of the bankroll on single games that are toss-ups at best.

This definitely plays into the hand of greed. If you only bet 1% of your bankroll on each game, you would have to lose a shit ton to go bust. Unfortunately, 99% of the gamblers don't follow this strategy.

SyGambler

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guess who's back

I see always people talking that gambling will leads to lose
and they talk a lot about the house edge
but I don't see them talking about games like poker , where the gambling part is mixed with people's brains
Gambling could be profitable if you know what you are doing
there are many people live from gambling earnings , but they simply don't spend their time playing roulette or slots
just gamble with an edge if u want to be a winner
and if you are doing it only for fun , then do what u want to do

XinXan

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Quote from: 98problems on June 04, 2015, 02:24:42 PM

Quote from: Tongkar on June 04, 2015, 10:32:03 AM

The only winners are the people that don't gamble.

i guess more the ones who gamble with brains, the ones who stop playing while they are still in profit and dont do stupid bets

And who the hell does that?? And by the way there are no stupid or smart bets in dice, it doesnt matter what you bet, nothing is reaally better than anything else, you are just another gambling addict falling into the gamblers fallacy. No one goes to a casino to win a little profit and then never come back again.

98problems

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Quote from: Tongkar on June 04, 2015, 10:32:03 AM

The only winners are the people that don't gamble.

i guess more the ones who gamble with brains, the ones who stop playing while they are still in profit and dont do stupid bets

SebastianJu

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Quote from: Tongkar on June 04, 2015, 10:32:03 AM

The only winners are the people that don't gamble.

Or the ones that own the casino. Tongue

Besides that... there are a number of games where you can get an advantage against the casino, bank and so. The better you play the better the outcome. Though that advantage is slim and obviously casinos dont like those persons. Often casinos only offer versions of games that dont allow that potential player edge.

RappelzReborn

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Quote from: Unkle on June 04, 2015, 12:11:25 PM

You can gamble for fun without being greedy, but if you're just playing to win or make profit quickly then you'll likely spiral out of control very quickly and end up in the red losing most of your cash. I think with most vices gambling is about moderation.

Now that's shocking , I don't think think people Gamble for fun but simply Gamble because they are greedy or in big need of money and .. well sometimes they simply screw things up .
The only one who gamble for fun is rich people who enjoy wasting money (a loss isn't taken as loss because he have shitload of money) (and winning is good because he can add something to his shitload of money ) Shocked

newcripto

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Quote from: Unkle on June 04, 2015, 12:11:25 PM

You can gamble for fun without being greedy, but if you're just playing to win or make profit quickly then you'll likely spiral out of control very quickly and end up in the red losing most of your cash. I think with most vices gambling is about moderation.

You can not gamble just for fun.The other thing when you gamble it is normal to be greedy.To be sincere when I gamble sometime I was about to win and because of my greed I remained without some nice amounts.Greed is a decease.I am gamble and I am greedy enough.

pooya87

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Quote from: RappelzReborn on June 04, 2015, 10:21:03 AM

Wanted to know how greedy people actually are , I'am personally not into gambling with the real meaning to be honest
however I see a lot of my friends says "im stupid" and stuff like that , because they start earning a lot on the begining then they get greedy and lose basically all , does it happen to you ?

i have never gambled ever in my life back when i didn't know about bitcoin. with finding bitcoin i also found out about a lot of different gambling websites that i can have fun
since i don't have enough experience and haven't lost a lot so far. i think i am a little bit greedy in my gamblings,

but as they say: "greed is good " Cheesy

damiano

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Quote from: bitllionaire on June 04, 2015, 12:15:02 PM

Quote from: Unkle on June 04, 2015, 12:11:25 PM

You can gamble for fun without being greedy, but if you're just playing to win or make profit quickly then you'll likely spiral out of control very quickly and end up in the red losing most of your cash. I think with most vices gambling is about moderation.

The worst point is when you lose and you are in negative profit, and then you want to recover what you had at the beginning,almost always you end losing everything

Luckily I am not a gambler per say but a trader and now and again poker player who is not greedy thankfully. The thing with what you said is true I have had a decent friend start out with a nice lump sum and start gambling on the roulette in real life, he lost and lost more before you know it he is chasing not to get his money back but to walk away with a smaller loss.

Of course that turns out to losing even more and in the end just wants enough to buy food and puffft its gone obviously my money gets given to him "for food" because of how bad I feel for him. Best thing to do is don't even try your luck just realize how lucky you are to be alive the odds are unimaginable and you should never push that luck, money is worthless after all is said and it will drive you insane.

XinXan

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Quote from: Unkle on June 04, 2015, 12:11:25 PM

You can gamble for fun without being greedy, but if you're just playing to win or make profit quickly then you'll likely spiral out of control very quickly and end up in the red losing most of your cash. I think with most vices gambling is about moderation.

Depends on what gambling games, blackjack, poker, yes you can have a lot of fun there even if you lose, you can even play without money but dice? Who has fun playing dice? I have fun winning and when you lose you dont have fun anymore, 99.9% of people that play dice do it to make profit, its obvious, you wouldnt play dice without money, would you?

bitllionaire

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Quote from: Unkle on June 04, 2015, 12:11:25 PM

You can gamble for fun without being greedy, but if you're just playing to win or make profit quickly then you'll likely spiral out of control very quickly and end up in the red losing most of your cash. I think with most vices gambling is about moderation.

The worst point is when you lose and you are in negative profit, and then you want to recover what you had at the beginning,almost always you end losing everything

Unkle

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You can gamble for fun without being greedy, but if you're just playing to win or make profit quickly then you'll likely spiral out of control very quickly and end up in the red losing most of your cash. I think with most vices gambling is about moderation.

cryptworld

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The best thing you can do is to have fixed objectives and leave the game when you get that objectives

boopy265420

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First of all we need to distinguish between greed and laziness.There are very few occasion when I was really greedy but most of the time I was lazy and could not take right decision and lost a lot of potential profit what I could have from many things.Timing is also very important to take some quick decision.We all are greedy enough in everything.

NeuroticFish

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Quote from: RappelzReborn on June 04, 2015, 10:21:03 AM

Wanted to know how greedy people actually are , I'am personally not into gambling with the real meaning to be honest
however I see a lot of my friends says "im stupid" and stuff like that , because they start earning a lot on the begining then they get greedy and lose basically all , does it happen to you ?

I am greedy enough to gamble - now and then. I think that gambling feeds the greed somehow. If I would be smarter I'd use that time to work and actually earn money.
Also fortunately I am not rich enough and I use to play with pennies, most of the time not even with my own money.
The feeling is good when you are on a winning streak, but that can never last. So yeah, I mostly lose

BuddyIsrael

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the only winner is the owner of a online casino Wink

Plusone

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I'm not greedy, simply I'm not rich and because of it I want to have a chance to win some money

I never play for my last money, I play only if I'm not afraid to lose this money.

Topic: How greedy you are ? - page 76. (Read 50874 times)