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Topic: management of risk and money on gambling (Read 2318 times)

hero member
Activity: 2954
Merit: 672
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December 17, 2016, 12:30:30 AM
Managing the risk involved in gambling is not a big matter, because already people knew it is highly risk. Money management is much important, which I learned from my personal experience of continued loss just because of improper money management.

I think they are both connected.  You cannot manage your money successfully if you failed to manage the risk involved in gambling.  What I am trying to say is, you can get the maximum benefits if you mange to do risj and money management at the same time.  In a scenario where you failed to manage risk, even if you are managing your money well, the probability to lose it is higher than the one tandemed with risk management.
Correct its a combination thats needed to be use in order for us to win or lessen our loses if we know how to correctly manage our money for sure we will not make some bad things to risk our capital we always need to look for both ways in order to gain profits and to avoid losing big.
Any type of activities that involves risk should be properly manage, hence risk management is created and since we are gambling where most of us are not really treating it seriously but because it's addictive we fall for it. The problem now is since we are not too serious we do not employ method to minimize the risk which resulted us to losing an amount more than we expected, with risk management we can minimize our loses.
hero member
Activity: 2128
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December 16, 2016, 11:33:12 AM
Managing the risk involved in gambling is not a big matter, because already people knew it is highly risk. Money management is much important, which I learned from my personal experience of continued loss just because of improper money management.

I think they are both connected.  You cannot manage your money successfully if you failed to manage the risk involved in gambling.  What I am trying to say is, you can get the maximum benefits if you mange to do risj and money management at the same time.  In a scenario where you failed to manage risk, even if you are managing your money well, the probability to lose it is higher than the one tandemed with risk management.
Correct its a combination thats needed to be use in order for us to win or lessen our loses if we know how to correctly manage our money for sure we will not make some bad things to risk our capital we always need to look for both ways in order to gain profits and to avoid losing big.
legendary
Activity: 1792
Merit: 1283
December 16, 2016, 11:29:42 AM
In my case when i gamble for real money i cant use my own money because i know tricks hoe to gamble for free to earn real money without depositing 1 singe satoshi to some gambling site.

You mean to say you will not use your money to gamble and you know how to earn money from gambling using free money given by sites? If that is what you want to say then I can say that is almost impossible to reach the minimum payout money with those free satoshi's. It is actually wasting our time. I don't worry about the end result but only load small amount play and forget it for next few days or weeks.
If you are playing with those faucet requests from dice sites and having fun while playing, without spending any real money, I don't think it's a complete waste of time.

And you can get minimum payout with that on a lot of dice sites, but usually it just won't be much.
Happened to me a couple of times when I played on Crypto-Games and freebitco.in
legendary
Activity: 3122
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December 16, 2016, 05:45:51 AM
Managing the risk involved in gambling is not a big matter, because already people knew it is highly risk. Money management is much important, which I learned from my personal experience of continued loss just because of improper money management.

I think they are both connected.  You cannot manage your money successfully if you failed to manage the risk involved in gambling.  What I am trying to say is, you can get the maximum benefits if you mange to do risj and money management at the same time.  In a scenario where you failed to manage risk, even if you are managing your money well, the probability to lose it is higher than the one tandemed with risk management.
They are really both the same and i agree with you if you do aware on the risk you will definitely create up money management and they do really connect and worked together. Managing your funds is considered as managing the risk and we are really aware on the first time we do tend to play gambling.
legendary
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December 16, 2016, 05:08:10 AM
Managing the risk involved in gambling is not a big matter, because already people knew it is highly risk. Money management is much important, which I learned from my personal experience of continued loss just because of improper money management.

I think they are both connected.  You cannot manage your money successfully if you failed to manage the risk involved in gambling.  What I am trying to say is, you can get the maximum benefits if you mange to do risj and money management at the same time.  In a scenario where you failed to manage risk, even if you are managing your money well, the probability to lose it is higher than the one tandemed with risk management.
hero member
Activity: 798
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December 16, 2016, 04:26:37 AM
Gambling is just for fun and game to me no more, but even if it is just game and for fun i always apply management of risk and money. And i always play gambling with i can lost it. And i don't play gambling every days.
Do you apply same something what i have doing or you are very can not control your self? Share your opinions at here.
I think the most important in gambling management is to control ourselves.
Set certain strategies, not being greedy, and emotional control.
We know to gambling is so risky to lose our money and just bet what we can afford to lose.
No matter how much your bankroll, try to manage 5-10% in every bet.
hero member
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December 16, 2016, 12:11:17 AM
Managing the risk involved in gambling is not a big matter, because already people knew it is highly risk. Money management is much important, which I learned from my personal experience of continued loss just because of improper money management.

A wise decision will lead for a succesful money management. What I mean here is, wise betting in every gambling activity. This can't be applied to those games under house edge but can be done in gambling games that needs strategy and knowledge.

It will not lead for a gambler to suffer always win but can able to help them stand up for a long term playing.
Wise decisions would really need in order to sustain or prolonged on playing gambling since you could able to manage your funds well and cant able to burn down your bankroll so easily.As you mentioned it will work only on some gambling games that do really need analysis and experience same as you mentioned. It may work for some pure luck based games like dice but not all the times.
legendary
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December 16, 2016, 12:03:21 AM
Managing the risk involved in gambling is not a big matter, because already people knew it is highly risk. Money management is much important, which I learned from my personal experience of continued loss just because of improper money management.

A wise decision will lead for a succesful money management. What I mean here is, wise betting in every gambling activity. This can't be applied to those games under house edge but can be done in gambling games that needs strategy and knowledge.

It will not lead for a gambler to suffer always win but can able to help them stand up for a long term playing.
legendary
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Vave.com - Crypto Casino
December 15, 2016, 11:24:41 PM
Managing the risk involved in gambling is not a big matter, because already people knew it is highly risk. Money management is much important, which I learned from my personal experience of continued loss just because of improper money management.
legendary
Activity: 3010
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December 15, 2016, 10:45:57 AM
#99
Bankroll management is key to a pokerplayer, now whether you can take that to the shitty gambling games you guys play is another story. i wouldn't entertain it personally.

Yes true. It's all about the bank roll in every gambling game. If you lose that bank roll it's time to walk away and come back another day. The rule I follow is to only lose what you can afford to lose then if I do lose it, I just walk out and don't look back. It's just about playing the game without any emotional attachment to it. Just play it and don't try to get back what you lost.

Management bankroll is not only leaving when your bankroll is depleted.  It should be an overall management.  As for me I manage my bankroll thru

1.  Know where would my bankroll come from.  It is always a good thing if you can get your bankroll for free but that is very hard.  People that are into faucet is doing it right but the hardway.  You can also use what you ca afford to lose from your money but never use money that is used for the family budget like groceries, bills, students allowance etc.
2.  When you are winning save the bankroll fund and continue playing with the profit as your initial bankroll.  This way even if you lose you still have your initial bankroll and can play again the next day.  Do not push it too hard.  You should be contented.  You were entertained for free.
3.  If you are winning, quit.  this is the best way to book a profit.
4.  Be calm and never let your emotion controls you while playing in gambling games.  You will be pre-occupied and will lose tracts of events and even lose your strategy.  At the end you will end up losing more.
hero member
Activity: 896
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December 15, 2016, 10:31:42 AM
#98
Bankroll management is key to a pokerplayer, now whether you can take that to the shitty gambling games you guys play is another story. i wouldn't entertain it personally.

Yes true. It's all about the bank roll in every gambling game. If you lose that bank roll it's time to walk away and come back another day. The rule I follow is to only lose what you can afford to lose then if I do lose it, I just walk out and don't look back. It's just about playing the game without any emotional attachment to it. Just play it and don't try to get back what you lost.
member
Activity: 95
Merit: 10
December 15, 2016, 07:37:21 AM
#97
Bankroll management is key to a pokerplayer, now whether you can take that to the shitty gambling games you guys play is another story. i wouldn't entertain it personally.
hero member
Activity: 2814
Merit: 576
December 15, 2016, 07:35:53 AM
#96
Gambling is just for fun and game to me no more, but even if it is just game and for fun i always apply management of risk and money. And i always play gambling with i can lost it. And i don't play gambling every days.
Do you apply same something what i have doing or you are very can not control your self? Share your opinions at here.
That's what you call risk management in actual business, and you can also apply it in gambling when you are treating gambling like a business. With risk management you are going to make a level of tolerance for your gambling activities, from the word risk management you already recognize that gambling is a risky thing so with your aim to make profit, you are going to minimize your loses as well if ever you will not succeed.
hero member
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December 13, 2016, 09:20:36 AM
#95
In gambling you really need to pay attention to your money management, most of the gambler become bankrupt because their money management is not good, they dont know when to stop when they lose and it is really important to stay calm and control your emotion when you gamble, remember gamble is not for chasing profit, it is for fun only

That's a popular scenario almost to all gamblers that is why upon playing or before gambling. You need to set up on how much you are going to allocate with your game. For example, if you are in dicing. Just simply set a limit on how much is your affordable to lose, set it like 0.005 BTC / day. It depends on your capacity.
legendary
Activity: 1036
Merit: 1002
December 13, 2016, 07:58:42 AM
#94
Gambling is just for fun and game to me no more, but even if it is just game and for fun i always apply management of risk and money. And i always play gambling with i can lost it. And i don't play gambling every days.
Do you apply same something what i have doing or you are very can not control your self? Share your opinions at here.
Gambling isn't not just for fun but aiming to win profit if you are going to play with your money then why to go gambling ? When you are going to lost why not to go super market and play it with the games there and earn tickets don't always manage to risj your money you will suffer that in the end.
hero member
Activity: 840
Merit: 501
December 13, 2016, 07:49:02 AM
#93
In gambling you really need to pay attention to your money management, most of the gambler become bankrupt because their money management is not good, they dont know when to stop when they lose and it is really important to stay calm and control your emotion when you gamble, remember gamble is not for chasing profit, it is for fun only
hero member
Activity: 1316
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December 13, 2016, 04:51:06 AM
#92
Although gambling is only used having fun. but many people are not able to control the emotions and passions of their rasp. because when he was gambling with the intention of having fun. if he has a lot to lose bitcoin he would do to restore the bitcoin. otherwise if you win a lot maybe he will not be satisfied
Management of risk and money in gambling can be considered as the hardest thing to do. That's why there are too many people are not able to control their feelings and their behaviors while gambling. However, I do not think the majority of players gamble just only for fun. Gambling for fun does not make your money disappear. Only when gambling for profit will they lose the money.
hero member
Activity: 630
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RealistaToken.com
December 13, 2016, 04:09:10 AM
#91
Although gambling is only used having fun. but many people are not able to control the emotions and passions of their rasp. because when he was gambling with the intention of having fun. if he has a lot to lose bitcoin he would do to restore the bitcoin. otherwise if you win a lot maybe he will not be satisfied
newbie
Activity: 61
Merit: 0
December 13, 2016, 04:02:43 AM
#90
Money management is a very important thing when it comes to gambling. "You only play with the amount that you can lose" that's how I think about gambling I have limits and I know if I'm losing I need to stop and just try again another time. Gambling is a very addictive thing if you don't know how to discipline and control yourself.
full member
Activity: 210
Merit: 100
December 08, 2016, 12:02:00 AM
#89
You mean to say you will not use your money to gamble and you know how to earn money from gambling using free money given by sites? If that is what you want to say then I can say that is almost impossible to reach the minimum payout money with those free satoshi's. It is actually wasting our time. I don't worry about the end result but only load small amount play and forget it for next few days or weeks.
It's not completely waste your time , it was happened with me a while ago I could withdraw my money from faucet amount maybe I was lucky on that day. Beside that you can get free money from (Rain chat , faucet , or promotion) so you can get decent amount from it.
it was not wasting time but really bad idea to rely on something like free money to start gamble.
you guys prefer to find something else that can provide you a better entertainment .
managing gamble to keep always in profit is as hard as controlling your emotion.

Not really.. I have played with free money most of the time and got +0.1BTC in profit. It took a while, but I got myself entertained and there aren't many times I deposited some money to gamble so I didn't risk much. Now I quit gambling and I feel better, but getting some extra pocket money didn't bother me Cheesy
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