Responsible gambling practices. - page 16.

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Quote from: ovcijisir on December 29, 2024, 01:41:11 PM

Quote from: SuperBitMan on December 20, 2024, 07:28:29 PM

1. Set your Limits

It is very important for you as a gambler to set a limited time for yourself, you need to know when to stop and when to start, some set of people gamble from morning till evening which is very bad, one needs to set his limited time.
One also needs to set a budget and stick to it, for example one can say for today I'm only using $50 or $100 to gamble as soon as that your budget is exhausted you stop for the day it prevents you from spending too much

This one is so important, got burned pretty bad once on dice game by trying to use Martingale system on one online casino. The stakes went up pretty high on 12 loss spree. I thought the next bet will be winning bet and lost almost all BTC I had. The experience was pretty sobering, so this rule has to be on everybody's mind when they start a gamble.

The moment the losses start pouring in and you have no control over it then believe me man you are definitely going to find yourself on the wrong side of the table cause that feeling of wanting to win back all you have lost would be repeating itself constantly on your head and it's take discipline and self control to actually have the counter thought to even say no to that feeling. So the best thing I do now is actually have the money i know if lost won't have any effect on me and gamble with it so if it finishes I know that's the end of gamble for that session.

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Quote from: danherbias07 on December 21, 2024, 01:05:25 AM

We have seen many topics about this but it's not bad to keep reminding the gamblers about it. Thank you for sharing.

Setting the limits will be the most important part in my own opinion. If you have a set amount to gamble for the day then we must follow it whatever happens. Win or lose. That means we must also set an amount for when we will withdraw in case a win happens.

Chasing losses will not happen if we follow the first rule above.

Gambling for entertainment is also a hard thing to do. If you are playing slots, most of the time, you will get hooked on them, and you might want to keep on depositing over and over again until it's not that fun anymore.

Asking yourself about how gambling is affecting your life is also important. If you think you are crossing the line then I believe that's when we should stop gambling. If you think it's affecting the budget of the family then it should also be stopped or controlled in a way that it won't damage our budget anymore.

I agree with the final point you made, you need to ask yourself how gambling is affecting your life, if it doesn't add a positive value then there's no need to continue but it's profitable I wouldn't advice you to continue but you can reduce the risks just in case. Anything that continuously take without adding is a liability, if you are a gambler that bets on sports betting and casino do a check and balance of what you have lost and gained from two of them separately, anyone that has the more losses than wins you can cut it off but if you lose more from both then you should quit gambling or just set a limit and try not to go beyond it.

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Quote from: SuperBitMan on December 20, 2024, 07:28:29 PM

1. Set your Limits

It is very important for you as a gambler to set a limited time for yourself, you need to know when to stop and when to start, some set of people gamble from morning till evening which is very bad, one needs to set his limited time.
One also needs to set a budget and stick to it, for example one can say for today I'm only using $50 or $100 to gamble as soon as that your budget is exhausted you stop for the day it prevents you from spending too much

This one is so important, got burned pretty bad once on dice game by trying to use Martingale system on one online casino. The stakes went up pretty high on 12 loss spree. I thought the next bet will be winning bet and lost almost all BTC I had. The experience was pretty sobering, so this rule has to be on everybody's mind when they start a gamble.

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Quote from: Accardo on December 29, 2024, 11:18:20 AM

Quote from: Makus on December 27, 2024, 03:34:02 PM

Well I'm glad you got my point though learning from other people's idea is a good way to learn but not everyone would really value the lessons they learn from others until it happens to them. Trust me, its easy for forget what happened to someone or what someone said about their experience but more difficult to forget what happened to you. Take for instance drugs. We often hear of how drugs when taken in excess let's the person to lose his memory for a while and then regain consciousness after some. And from what happened a while ago, from where I'm from. A man took drug and killed his child by throwing him to the wall, I bet such person can never take drugs to that extent again. It was obvious from his actions after he regained consciousness he felt so guilty.

That's really a terrible experience and it'll be meaningful if he learnt his lessons. But that could also lead to PTSD because living with such a thought would cause more pain to the person which may end up hurting him. Additionally, he'd need the intervention of friends or even go to rehab as bad occurrences don't get handled by the person living with it, even in gambling the player deserves some help from their friends.

That's very irresponsible, first things first, if he has financial problems, he should've taken it seriously and managed to think what's the recovery plan. But mostly those weak people rely on drugs and want to forget their problems but didn't realize it become more serious problems. He should've open up to his family and friends, ask for advice and let them help him to recover. Money issues stay in the head for a long time since money really control the world, that's why you must be cautious in spending too much money in gambling, it can really destroy you internally.

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Quote from: SuperBitMan on December 20, 2024, 07:28:29 PM

2. Avoid Chasing your Losses

That advice isn't only for gamblers, even crypto and Forex traders should adhere to that too. It's called revenge trading, or as the case is here with gambling, and it's very dangerous. It's good to take a time off gambling when one begins to have losing streak. It makes it look like retaliation. Those who've once tried it don't usually have nice stories to tell about their experience.

Quote

3. Gamble for Entertainment, Not Income.

Pardon me. I look at that from a different lens as I tend to disagree with the conception that gambling can be for fun/entertainment. I don't think so. Those who gamble have their minds set on winning. Nobody feels happy whenever they lose. So, where is the fun or entertainment in it?

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Quote from: Makus on December 27, 2024, 03:34:02 PM

Well I'm glad you got my point though learning from other people's idea is a good way to learn but not everyone would really value the lessons they learn from others until it happens to them. Trust me, its easy for forget what happened to someone or what someone said about their experience but more difficult to forget what happened to you. Take for instance drugs. We often hear of how drugs when taken in excess let's the person to lose his memory for a while and then regain consciousness after some. And from what happened a while ago, from where I'm from. A man took drug and killed his child by throwing him to the wall, I bet such person can never take drugs to that extent again. It was obvious from his actions after he regained consciousness he felt so guilty.

That's really a terrible experience and it'll be meaningful if he learnt his lessons. But that could also lead to PTSD because living with such a thought would cause more pain to the person which may end up hurting him. Additionally, he'd need the intervention of friends or even go to rehab as bad occurrences don't get handled by the person living with it, even in gambling the player deserves some help from their friends.

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Quote from: traderethereum on December 28, 2024, 11:30:20 PM

Quote from: gunhell16 on December 27, 2024, 09:11:09 AM

I totally agree with what you're saying dude, which is that you shouldn't really think about making gambling a passive income because it's a gambling place where we'll throw our
money away for sure in the end.

The only thing we can do here is to have limits on the money we put into the casino if we ever have to gamble, and control ourselves and
don't just give in to our emotions and don't let greed enter our minds.

Yes, you are also right because limiting the money we use to gambling will be important especially if we want to prevent the lose not to become big. We can not use gambling as a source of passive income because every time we gamble, we need to use money and that can be big if we lose control over ourselves.

Controlling ourselves will also the important thing for us to keep aware in gambling so we don't break our limit and we can enjoy the game. We will not let greed become big especially if we can win and will not chase more winning.

Limiting is intended to prevent anything bigger that is not desired, and of course it is true that one of the reasons why gambling is recommended to be done with full limits is so that we do not lose too much money, because we can see that there have been so many incidents of gamblers who lose a lot of money in gambling because they always ignore the limits, and what you say is true that we will never be able to make gambling a source of income, logically how can you make a place that runs based on probability to be used as a place to earn income, and also on the other hand it is clear that this gambling is a business for the casino. On the other hand, I think limits and self-control will always go hand in hand, or what I mean is that all of that will be easily done by a gambler if only from the start they knew how gambling really is and were aware of the risks.

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Quote from: traderethereum on December 28, 2024, 11:30:20 PM

Quote from: gunhell16 on December 27, 2024, 09:11:09 AM

I totally agree with what you're saying dude, which is that you shouldn't really think about making gambling a passive income because it's a gambling place where we'll throw our
money away for sure in the end.

The only thing we can do here is to have limits on the money we put into the casino if we ever have to gamble, and control ourselves and
don't just give in to our emotions and don't let greed enter our minds.

Yes, you are also right because limiting the money we use to gambling will be important especially if we want to prevent the lose not to become big. We can not use gambling as a source of passive income because every time we gamble, we need to use money and that can be big if we lose control over ourselves.

Controlling ourselves will also the important thing for us to keep aware in gambling so we don't break our limit and we can enjoy the game. We will not let greed become big especially if we can win and will not chase more winning.

Yes, it is very important to maintain awareness and self-control in gambling, because gambling is a trap where a gambler will lose money by gambling beyond his ability without knowing it. And the only reason for this is gambling addiction, greed, uncontrollability and the desire to win more, which often lead to big losses.
Therefore, a gambler must have the ability to control himself, accept both the results of winning or losing, keep himself in control in both situations, and at that time stop gambling.
Currently, gambling has reached a stage where a gambler wins big or loses, he will eventually lose his money.
When a gambler wins big, he keeps gambling in the hope of winning more, and loses everything. Again, when a gambler loses money, he becomes emotional, and under the influence of emotions, he keeps gambling uncontrollably, and loses everything.

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Quote from: gunhell16 on December 27, 2024, 09:11:09 AM

I totally agree with what you're saying dude, which is that you shouldn't really think about making gambling a passive income because it's a gambling place where we'll throw our
money away for sure in the end.

The only thing we can do here is to have limits on the money we put into the casino if we ever have to gamble, and control ourselves and
don't just give in to our emotions and don't let greed enter our minds.

Yes, you are also right because limiting the money we use to gambling will be important especially if we want to prevent the lose not to become big. We can not use gambling as a source of passive income because every time we gamble, we need to use money and that can be big if we lose control over ourselves.

Controlling ourselves will also the important thing for us to keep aware in gambling so we don't break our limit and we can enjoy the game. We will not let greed become big especially if we can win and will not chase more winning.

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Quote from: Makus on December 27, 2024, 03:34:02 PM

Quote from: Dewi Aries on December 27, 2024, 03:22:38 PM

Yes, I will conclude from the point of view that you have conveyed that if so, it means that whether you like it or not and whether you are ready or not, a gambler must experience a slump first in order to know what is right and what is wrong, I understand that experience is the best teacher, but that does not mean that it is impossible for them to eventually really change by learning from other people's experiences, but maybe people like that are only a minority.

But on the other hand, for this problem, I think that by being rational from the beginning of knowing gambling, it should be enough to keep us from various possible slumps, because everyone is equipped with common sense to consider what makes sense and what doesn't, such as thinking that "there are no significant results just by guessing and pressing buttons".

Well I'm glad you got my point though learning from other people's idea is a good way to learn but not everyone would really value the lessons they learn from others until it happens to them. Trust me, its easy for forget what happened to someone or what someone said about their experience but more difficult to forget what happened to you. Take for instance drugs. We often hear of how drugs when taken in excess let's the person to lose his memory for a while and then regain consciousness after some. And from what happened a while ago, from where I'm from. A man took drug and killed his child by throwing him to the wall, I bet such person can never take drugs to that extent again. It was obvious from his actions after he regained consciousness he felt so guilty.

Maybe this is what is meant by experience is the best teacher in anything, because it is true that something we hear from others will have a different effect than when we experience it directly, but sometimes we also cannot be sure that by experiencing a slump it can immediately make a gambler aware and change his approach to be better, meaning it may take several times of slump like that to be able to make them aware but it also depends on the person. You give a good example with drugs which in general when we treat everything excessively it will definitely have a bad impact, meaning it can be said that even though for example the activity or activity is risky but if for example we can manage and control it well something with our limits then we will not experience a slump like that, and this is also one of the reasons why gambling with limits is always recommended.

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Quote from: Kemarit on December 26, 2024, 07:11:47 AM

It's very hard though to make the right decision when you are in the heat of the battle. If you are in table playing card, you can't just stand up and go out and exit. Even in online from my experience it's very hard as you might think of another round and then that's it. But if you keep on winning then you might think to go on and play again.

Not that they are not adequate inform or what, experience gamblers already know that once they play, they will be emotional and so they are willing to take that big risk until you lose everything. But during that time, you are not thinking of stopping and your don't have control of your emotions.

If things are really like this, then there is nothing else to do when a person has no control over his emotions while gambling.
And the things you are saying, it is one kind of symptom of addiction on gambling. In these cases, no one from the outside can really say anything about whether he can control himself or not specially when he should stoped.
And I always try to deposit a certain amount of funds on the gambling site for that day so that even if I lose my control and play another and another round even if I should stop, And at that case even if I lose all my fund what I deposited on that site on that day it won't have any effect on my financial situations. Even then I want to also say if that person was addicted this strategy also couldn't save him from doing the gambling because on that case he have no money that person will borrow someone for doing gambling. So yes it is really not that easy.

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Quote from: Dewi Aries on December 27, 2024, 03:22:38 PM

Yes, I will conclude from the point of view that you have conveyed that if so, it means that whether you like it or not and whether you are ready or not, a gambler must experience a slump first in order to know what is right and what is wrong, I understand that experience is the best teacher, but that does not mean that it is impossible for them to eventually really change by learning from other people's experiences, but maybe people like that are only a minority.

But on the other hand, for this problem, I think that by being rational from the beginning of knowing gambling, it should be enough to keep us from various possible slumps, because everyone is equipped with common sense to consider what makes sense and what doesn't, such as thinking that "there are no significant results just by guessing and pressing buttons".

Well I'm glad you got my point though learning from other people's idea is a good way to learn but not everyone would really value the lessons they learn from others until it happens to them. Trust me, its easy for forget what happened to someone or what someone said about their experience but more difficult to forget what happened to you. Take for instance drugs. We often hear of how drugs when taken in excess let's the person to lose his memory for a while and then regain consciousness after some. And from what happened a while ago, from where I'm from. A man took drug and killed his child by throwing him to the wall, I bet such person can never take drugs to that extent again. It was obvious from his actions after he regained consciousness he felt so guilty.

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Quote from: Makus on December 26, 2024, 04:02:20 PM

Quote from: Dewi Aries on December 26, 2024, 11:59:35 AM

Yes, that is the reason why I said above that we need to reconsider whether the advice and input really make sense or not, because as you said that not all experienced gamblers are wise and always right in giving advice or suggestions to others especially when talking about gambling, meaning one of the reasons why you need to reconsider the advice is to find out whether it is good or not for you, because only you yourself know what is best for you, and also because everyone usually has different thoughts in every time they conclude something.

For a gambler who just started gambling, he may not understand what to do even after given the advice, and he may not be able to determine if the advise is the best one or not that is why experience is also one of the best ways to learn, its best to let some persons have their own experience so they can determine how to go about controlling their emotions during loss or win. After having few experience if the gambler wishes to be discipline in his gambling lifestyle then he can truly tell if an advice is good or not for him. Only those who wishes to make good decisions in gambling ever take a break and ask if they are actually making the right choice and work towards their expectations.

Yes, I will conclude from the point of view that you have conveyed that if so, it means that whether you like it or not and whether you are ready or not, a gambler must experience a slump first in order to know what is right and what is wrong, I understand that experience is the best teacher, but that does not mean that it is impossible for them to eventually really change by learning from other people's experiences, but maybe people like that are only a minority.

But on the other hand, for this problem, I think that by being rational from the beginning of knowing gambling, it should be enough to keep us from various possible slumps, because everyone is equipped with common sense to consider what makes sense and what doesn't, such as thinking that "there are no significant results just by guessing and pressing buttons".

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Quote from: Ricardo11 on December 27, 2024, 09:05:40 AM

Quote from: $crypto$ on December 27, 2024, 08:27:33 AM

Quote from: madnessteat on December 27, 2024, 05:42:51 AM

We all learn from our mistakes, so most teenagers decide to experience gambling and other recreational activities that without proper supervision can have a negative impact on the psyche. I don't think it's a bad thing. What is bad is when a teenager has no interest in anything and shields themselves from anything new. It is impossible to gain some experience without studying some sphere on your own. The main thing is not to forget that everything should be approached with critical thinking and caution.

A teenager's emotional level is still high so if he tries gambling with his first try usually this will become a sustainable addiction, this is what is worried especially when they sometimes never think about any restrictions on gambling.
The important thing is never to have a bad experience because of addiction, I think there are many young people who first try and then become an everyday player because of the desire to win high.

Nowadays, there are many young teenage gamblers whose mental level has not yet reached the level of maturity, but they play gambling and as a result, they are becoming more deeply addicted to risky places like gambling.
In the meantime, many teenagers go to gamble for the first time out of curiosity and excitement, but after playing for the first time, they fail to control themselves and gradually it becomes a regular habit. And teenagers have reached this stage due to the ignorance of the parents of teenagers. Parents should strictly control the access of teenagers, and keep a close eye on their every activity.

The unstable age is indeed one of the supporting factors for someone to finally gamble in the wrong way and mindset until they finally get addicted, but not all of them are like that in my opinion, because after all, even adults can become addicted to gambling, in the end I think gambling addiction or the wrong approach to gambling depends on how your perspective is from the beginning towards this activity, simply put, if basically from the beginning you are tempted to gamble because you see a chance to win, then surely over time you will also become an addicted gambler.

I agree with your last statement that this situation should be one of the reasons why we as parents must always identify the various negative things that can reach our children, not only gambling but in this digital era, gambling is indeed the most dangerous.

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Quote from: $crypto$ on December 27, 2024, 08:27:33 AM

A teenager's emotional level is still high so if he tries gambling with his first try usually this will become a sustainable addiction, this is what is worried especially when they sometimes never think about any restrictions on gambling.
The important thing is never to have a bad experience because of addiction, I think there are many young people who first try and then become an everyday player because of the desire to win high.

Bad experiences will happen if they don't know what they're playing and how the game works.
Because the first game will be an experience that will make them learn even though it is a bad experience.

Someone who is addicted is those who are always dissatisfied with a loss or even a small victory and they always want to try to get a big win.

A teenager who starts to gamble certainly has unstable emotions and seems to just play without any restrictions and then it becomes a regular game.

Of course, you must already know about slot gambling games that are easy for everyone and all ages to access today, even illegal slot gambling is also increasing.
Such gambling will only make them addicted because the system has been set up so that the bookmaker always wins.

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Quote from: traderethereum on December 27, 2024, 02:19:17 AM

Quote from: Moreno233 on December 27, 2024, 01:13:41 AM

I'm not gambling for fun but to make passive income. There are other ways I catch fun like hanging out with friends over some bottles of drinks, watching live soccer and others. When I want to gamble, it is serious business for me that is why I'm conscious of how much money I put into gambling and also what my expectations are like when to make withdrawals and when to stop gambling in case of winning to my expectations or too much losses. If I see gambling as fun, it might affect my thinking and decision making making and this can in turn affect the outcome.

It is difficult to make passive income from gambling because you still use money to betting. Passive income means you don't have to spend money after the thing is run and only wait for that thing generate money for you. While playing gambling needs to spend some money which is not have a big guarantee to win, so you must be careful when gambling.

But I guess you can be responsible when playing gambling as I see that you can control yourself and know what you should do in gambling. Not many people can be like you where they will tempts from gambling and difficult to stop gambling.

I totally agree with what you're saying dude, which is that you shouldn't really think about making gambling a passive income because it's a gambling place where we'll throw our
money away for sure in the end.

The only thing we can do here is to have limits on the money we put into the casino if we ever have to gamble, and control ourselves and
don't just give in to our emotions and don't let greed enter our minds.

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Quote from: $crypto$ on December 27, 2024, 08:27:33 AM

Quote from: madnessteat on December 27, 2024, 05:42:51 AM

We all learn from our mistakes, so most teenagers decide to experience gambling and other recreational activities that without proper supervision can have a negative impact on the psyche. I don't think it's a bad thing. What is bad is when a teenager has no interest in anything and shields themselves from anything new. It is impossible to gain some experience without studying some sphere on your own. The main thing is not to forget that everything should be approached with critical thinking and caution.

A teenager's emotional level is still high so if he tries gambling with his first try usually this will become a sustainable addiction, this is what is worried especially when they sometimes never think about any restrictions on gambling.
The important thing is never to have a bad experience because of addiction, I think there are many young people who first try and then become an everyday player because of the desire to win high.

Nowadays, there are many young teenage gamblers whose mental level has not yet reached the level of maturity, but they play gambling and as a result, they are becoming more deeply addicted to risky places like gambling.
In the meantime, many teenagers go to gamble for the first time out of curiosity and excitement, but after playing for the first time, they fail to control themselves and gradually it becomes a regular habit. And teenagers have reached this stage due to the ignorance of the parents of teenagers. Parents should strictly control the access of teenagers, and keep a close eye on their every activity.

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Quote from: madnessteat on December 27, 2024, 05:42:51 AM

We all learn from our mistakes, so most teenagers decide to experience gambling and other recreational activities that without proper supervision can have a negative impact on the psyche. I don't think it's a bad thing. What is bad is when a teenager has no interest in anything and shields themselves from anything new. It is impossible to gain some experience without studying some sphere on your own. The main thing is not to forget that everything should be approached with critical thinking and caution.

A teenager's emotional level is still high so if he tries gambling with his first try usually this will become a sustainable addiction, this is what is worried especially when they sometimes never think about any restrictions on gambling.
The important thing is never to have a bad experience because of addiction, I think there are many young people who first try and then become an everyday player because of the desire to win high.

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So many things to acquire before we call ourselves responsible. What you have said, OP, is quite helpful in developing a good mindset and proper gambling approach. But still, this is not enough to make someone responsible.
Perhaps gambling responsibly seems easy to say, but in real life, it was dumb and difficult to fulfill. And I tell you why? Because we have emotions and whether we like it or not, sometimes we lose control of it which leads us to make bad decisions. Infact, even if you are a well-experienced gambler, there's still time you reach that point.

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Quote from: EarnOnVictor on December 27, 2024, 05:16:00 AM

Quote from: SuperBitMan on December 20, 2024, 07:28:29 PM

1. Set your Limits

2. Avoid Chasing your Losses

3. Gamble for Entertainment, Not Income.

4. Avoid alcohol, drugs and emotion.

There are good gambling practices that if anyone adheres to will be more responsible in their gambling activities.

Among them, chasing losses is the worst, no one regularly chases losses and has the victory. In 100 people, I am sure that more than 95% will have a bitter story to tell about that, and the 5% who recovered from the losses and even made money in some cases are merely lucky. If they persist in doing that, they will certainly join the 95% who lose.

Good assessment, more or less if they continue playing after recovering they might lose it back and regret that they insist to keep on playing instead of saving their chance and enjoy whatever the experienced that they've got. Like what the post above said better to think ahead of time and make sure that you understand what's going to be the actual risk that you'll going to face while playing.

Topic: Responsible gambling practices. - page 16. (Read 4363 times)