The Paradox of Gambling behavior | Bitcointalksearch.org

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Quote from: LUCKMCFLY on May 19, 2022, 11:00:45 AM

Quote from: Despairo on May 12, 2022, 02:27:39 AM

Quote from: jrrsparkles on May 11, 2022, 08:16:41 AM

Gambling meant for entertainment not for investment but the greediness hide under everyone's character kicks in and force them to risk and gamble which will create negative impact for the 99% of time, gambling addiction is also another reason for people even realize the risk factor can't stop them from doing so its better limit their gambling activities from the beginning itself will save them from losing money.

It's really far terminology between gambling and investment, gambling can be viewed as quick money games while investment is steady grow of your portfolio. Trading is more closer than investment since in trading you can made some profit in a day. However I really not understand how an addicts really obsessed to deposit more and more until he rekt. On my experiences when all of my bankroll wiped out, I will be sad and it will be a lesson for me to not lose it again on tomorrow.

I think that sometimes the player has that thought that if he lost he should get his money back and win more than what he invested, that is where the problem is, over time I have learned that I allocate a part of my money that I was willing to lose, if I lose it doesn't matter, I have fun, I keep that, if I win then it is an option that is always open, based on the fact that the house always wins, it is to know that when we play we will always have that disadvantage, all casinos will always win and that is That is why they were created to provide us with fun, we cannot compete against them, it is for this reason that when there is risk management in our money we can enjoy the most with an option to win.

That's good because you're just allocating some of your funds and you know your limit and that you just gambled money that you can afford to lose, in the end, it's a win-win situation for the both party as the casino get that money while you on the other side had some fun and got entertained while gambling. If you win, that's just a bonus because your goal was just to have some fun.

Now, many people really have some hard time doing the same thing because their goal why they approached these casinos or gambling sites is to earn money. Surely they knew that the chances of getting lose is quite high than winning but they still chose do it.

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Quote from: Apocollapse on May 15, 2022, 10:25:25 PM

Quote from: nullama on May 15, 2022, 07:50:45 PM

Now, if you look at gambling in a professional way, then it gets way more serious, and you might lose a lot of money while not having any fun.

The only thing that you can do is to choose games that have more favourable odds to you, and then use any kind of system that would allow you to be better at the game. Now, of course, pretty much anything that actually would work for you is not allowed in Casinos, etc, and they will be quick to kick you out.

When you're not having any fun with your bet and your sole purpose is to earn profit, pretty sure you want to recover your money to bet more and it will make you addicted to gambling.

The system you talking about is abusing the casino since you're trying to find the bugs or loophole, that's why they're kick you out. I'd say that's not a professional gambler, but more like a hacker or a bad guy who want to earn money by doing illegal stuffs.

Physical casinos at least do not distinguish from the gamblers that are just using their ability in the games to make money from those that are actually cheating, for them as long as you are making them lose money then you are considered a cheater, and in fact they keep a special book which they share with each other with a picture of each person they have caught, or at least that is the way it works within the US, so even if a person is just using card counting and earning some money that way, even if he is not really cheating as he is only using his mind to give himself an advantage over the casino he will be considered a cheater and end up in that book, something that has bothered card counters for decades as they do not think of themselves as cheaters.

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Quote from: Despairo on May 12, 2022, 02:27:39 AM

Quote from: jrrsparkles on May 11, 2022, 08:16:41 AM

Gambling meant for entertainment not for investment but the greediness hide under everyone's character kicks in and force them to risk and gamble which will create negative impact for the 99% of time, gambling addiction is also another reason for people even realize the risk factor can't stop them from doing so its better limit their gambling activities from the beginning itself will save them from losing money.

It's really far terminology between gambling and investment, gambling can be viewed as quick money games while investment is steady grow of your portfolio. Trading is more closer than investment since in trading you can made some profit in a day. However I really not understand how an addicts really obsessed to deposit more and more until he rekt. On my experiences when all of my bankroll wiped out, I will be sad and it will be a lesson for me to not lose it again on tomorrow.

I think that sometimes the player has that thought that if he lost he should get his money back and win more than what he invested, that is where the problem is, over time I have learned that I allocate a part of my money that I was willing to lose, if I lose it doesn't matter, I have fun, I keep that, if I win then it is an option that is always open, based on the fact that the house always wins, it is to know that when we play we will always have that disadvantage, all casinos will always win and that is That is why they were created to provide us with fun, we cannot compete against them, it is for this reason that when there is risk management in our money we can enjoy the most with an option to win.

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Quote from: ajochems on May 15, 2022, 04:22:59 PM

The well playing gamblers will do the mistake by the victorious thoughts.In a casino,he next move will be done with the over confidence.The over confidence was made a huge error all the time.While you keep on loss the game,the fear will adapt the mind of the gamblers.So that,he will play many game with the fear.Now the fear will be deciding factor the game.Both fear and over confidence play a major role.

I think it is normal for a gambler to suddenly have overconfidence while playing casino. It could happen if he could win the game multiple times that his mind would keep telling him he had luck and he should use it while luck was still on his side. It makes the gambler forget that luck will not be with him while playing but rather luck can go at any moment. If he was a wise gambler, he would definitely quit after winning a few spins and take his winnings and leave the casino. But greedy and overconfident gamblers will not think so but will continue to gamble and hope that the next round will win some more money.

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Quote from: SirLancelot on May 14, 2022, 11:09:21 AM

70 to 100 usd per week seems small to you but I think for some that has a low income, this amount can be already huge to them. There's no assurance in gambling, more if the game offer highs reward because its odds are also crazily high but if you will only save that 100 usd per week for a month or for a year, that is already a good amount of money. You cant call yourself addicted if that was your play style.

You are still a responsible gambler but a true addicted gambler can spend more than that because they are playing for longer hours per day. We have a different kind of activities or things to entertain us but you like gambling the most, I think that is because gambling can be more rewarding as it makes us double or even triple our money if we are lucky.

Spending from $70 until $100 per weeks seems still small funds but if not get return I think become bigger fund when we checking with deposit transaction history, but I believe spent this amount not really sure with get return and try fun with casino gambling only. He can controlling with how much money to spent on gambling every week because have several gambler not realize when losing much money on gambling site. But better to increase under $50 on every week with casino gambling but could be higher depend when get profit return with your betting.

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Quote from: alegotardo on May 15, 2022, 08:34:10 PM

I disagree that a professional player can lose a lot of money without having fun.
I know people who are really good at poker, who make a living out of the game and have a lot of fun with it.

I doubt what you say, at least in that categorical way as you say it.

Those of us who have been in the poker world for years know that any fish that catches a good streak has a better time than us when we have an upswing of tens of thousands of hands. We still enjoy it somewhat, but having to compulsorily play X hours to generate the monthly EV you want takes a lot of fun out of the game and makes it a job. Catching an inevitable bad streak, even if you know it will pass, and constantly watching people who are worse than you beat you is not fun.

Although we can say that it is enjoyable as there are people who enjoy their work, but many of those if they could would be drinking a daikiri on the beach in Barbados instead of working or playing poker for a living.

Apocollapse

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Quote from: nullama on May 15, 2022, 07:50:45 PM

Now, if you look at gambling in a professional way, then it gets way more serious, and you might lose a lot of money while not having any fun.

The only thing that you can do is to choose games that have more favourable odds to you, and then use any kind of system that would allow you to be better at the game. Now, of course, pretty much anything that actually would work for you is not allowed in Casinos, etc, and they will be quick to kick you out.

When you're not having any fun with your bet and your sole purpose is to earn profit, pretty sure you want to recover your money to bet more and it will make you addicted to gambling.

The system you talking about is abusing the casino since you're trying to find the bugs or loophole, that's why they're kick you out. I'd say that's not a professional gambler, but more like a hacker or a bad guy who want to earn money by doing illegal stuffs.

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Quote from: nullama on May 15, 2022, 07:50:45 PM

It really depends on the reason why you're gambling.

If you're doing it for fun, then you should expect to lose money over the long term, but you have fun. So in that setting you probably are not going to spend too much money gambling, just an amount that is reasonable to pay for entertainment.

Now, if you look at gambling in a professional way, then it gets way more serious, and you might lose a lot of money while not having any fun.

The only thing that you can do is to choose games that have more favourable odds to you, and then use any kind of system that would allow you to be better at the game. Now, of course, pretty much anything that actually would work for you is not allowed in Casinos, etc, and they will be quick to kick you out.

But it is possible, or at least it was possible, in the early days of gambling. An example of this is David Walsh, an Australian professional gambler that made his fortune in Casinos all around the world. He's a very interesting person. Here are some of his thoughts:

David Walsh: Lessons from a billion-dollar bettor

I would argue this is the most important one:

Quote from: David Walsh

The first thing you’ve got to avoid is ruin.

I disagree that a professional player can lose a lot of money without having fun.
I know people who are really good at poker, who make a living out of the game and have a lot of fun with it.
Now, I believe that maybe you're just referring to gambling, and in that case I agree with you... playing only for money in games where only luck is your ally is a huge risk and a path to unhappiness.

nullama

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It really depends on the reason why you're gambling.

If you're doing it for fun, then you should expect to lose money over the long term, but you have fun. So in that setting you probably are not going to spend too much money gambling, just an amount that is reasonable to pay for entertainment.

Now, if you look at gambling in a professional way, then it gets way more serious, and you might lose a lot of money while not having any fun.

The only thing that you can do is to choose games that have more favourable odds to you, and then use any kind of system that would allow you to be better at the game. Now, of course, pretty much anything that actually would work for you is not allowed in Casinos, etc, and they will be quick to kick you out.

But it is possible, or at least it was possible, in the early days of gambling. An example of this is David Walsh, an Australian professional gambler that made his fortune in Casinos all around the world. He's a very interesting person. Here are some of his thoughts:

David Walsh: Lessons from a billion-dollar bettor

I would argue this is the most important one:

Quote from: David Walsh

The first thing you’ve got to avoid is ruin.

ajochems

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The well playing gamblers will do the mistake by the victorious thoughts.In a casino,he next move will be done with the over confidence.The over confidence was made a huge error all the time.While you keep on loss the game,the fear will adapt the mind of the gamblers.So that,he will play many game with the fear.Now the fear will be deciding factor the game.Both fear and over confidence play a major role.

roslinpl

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In a game,it may be leads to loss for huge then a winning.In such a way,you need to learn the game. The failure teach you the more then a success,in success we get good amount of the positive idea. But failure will teach the missing qualifications in you. After the failure,you need to be very careful in a game. Every step should be keep in a right way to learn the more.

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Quote from: madnessteat on May 14, 2022, 11:37:49 AM

Quote from: Silberman on May 12, 2022, 05:29:25 PM

There are some that say that adverse conditions forge your character but I believe that they reveal your character, you can see how people really are when they are faced with some difficult circumstances, there are some people that cannot deal with them and they either get mad or they break, however there are many that can just accept it and immediately move on with their lives, which is the right way to deal with this as you can always recover the money you have lost in a gambling session.

I believe that our whole life consists of solving various problems and that even a bad experience is good for a person. For example, after one big loss I revised my attitude to gambling and learned to control myself, but not everyone is able to do the same. Someone even after a big loss does not learn any lessons from this situation and continues to make the same mistakes. Why this happens I still do not understand. Most likely a person is afraid to admit that he is to blame for all these mistakes.

You know what they say “You learn more from defeat than from victory”, while at the time it can be difficult to accept when things do not go our way it is at those moments when we learn the most, however as you say this is not easy as this requires to take a step back and carefully analyze what you did wrong and what you could have done differently, something really difficult to do as it is in fact way easier to blame external factors from our mistakes than to try to improve ourselves.

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Quote from: Silberman on May 12, 2022, 05:29:25 PM

Quote from: madnessteat on May 12, 2022, 02:45:37 PM

Quote from: delfastTions on May 12, 2022, 06:37:10 AM

The paradox of a person's behavior when he gambles, I think, is that even knowing this person well, you can make a big mistake. The reaction of this player to both losing and winning can be in a way that you could not even imagine. Someone, because of losing even a small amount, can become depressed, while the other person, on the contrary, cheer up or just pretend to have fun. By the way, it is at such moments that you can get to know this person much better, which is generally good for further communication with him.
This is where I see the great benefit of such paradoxes.

Yes, if a person is duplicitous or hides something from you in a stressful situation he is more likely to show his true gut. Losing in a casino is a good situation to see what a person is capable of when he loses self-control. I have seen first-hand experience of a man becoming uncontrollable while losing and throwing his fists at the people who came with him to the casino. Such situations are a great demonstration of who can fail in a really difficult life situation.

There are some that say that adverse conditions forge your character but I believe that they reveal your character, you can see how people really are when they are faced with some difficult circumstances, there are some people that cannot deal with them and they either get mad or they break, however there are many that can just accept it and immediately move on with their lives, which is the right way to deal with this as you can always recover the money you have lost in a gambling session.

I believe that our whole life consists of solving various problems and that even a bad experience is good for a person. For example, after one big loss I revised my attitude to gambling and learned to control myself, but not everyone is able to do the same. Someone even after a big loss does not learn any lessons from this situation and continues to make the same mistakes. Why this happens I still do not understand. Most likely a person is afraid to admit that he is to blame for all these mistakes.

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Quote from: swogerino on May 12, 2022, 03:06:59 AM

I think this depends on what a gambler/player end goal is.For example mine is to play little money to hit that big win,I only play one slot and I am addicted to playing it but not addicted to losing a lot of money,every week I play like 70-100 USD in the hope of getting that big win,if I don't get it and lose such amount I stop gambling,I am only using money I can afford to lose so I don't care and by doing so my level of auto control is great,I am immune I believe from falling to addiction and I do that as a form of hobby or entertainment,I have such money to use for entertainment and I like gambling entertainment the most.

70 to 100 usd per week seems small to you but I think for some that has a low income, this amount can be already huge to them. There's no assurance in gambling, more if the game offer highs reward because its odds are also crazily high but if you will only save that 100 usd per week for a month or for a year, that is already a good amount of money. You cant call yourself addicted if that was your play style.

You are still a responsible gambler but a true addicted gambler can spend more than that because they are playing for longer hours per day. We have a different kind of activities or things to entertain us but you like gambling the most, I think that is because gambling can be more rewarding as it makes us double or even triple our money if we are lucky.

doomloop

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Quote from: Despairo on May 12, 2022, 02:27:39 AM

Quote from: jrrsparkles on May 11, 2022, 08:16:41 AM

Gambling meant for entertainment not for investment but the greediness hide under everyone's character kicks in and force them to risk and gamble which will create negative impact for the 99% of time, gambling addiction is also another reason for people even realize the risk factor can't stop them from doing so its better limit their gambling activities from the beginning itself will save them from losing money.

It's really far terminology between gambling and investment, gambling can be viewed as quick money games while investment is steady grow of your portfolio. Trading is more closer than investment since in trading you can made some profit in a day. However I really not understand how an addicts really obsessed to deposit more and more until he rekt. On my experiences when all of my bankroll wiped out, I will be sad and it will be a lesson for me to not lose it again on tomorrow.

Yeah, that is also what I noticed earlier. Investment must be a wrong word to use but he can instead say gambling for profit however I think any money that is put on something is still called as an investment. You invest in gambling because you want to have fun or you want to try to make a profit.

To some, they can view gambling as a quick money/easy money scheme. That can be true if they are lucky and win but at most times it isn't because gambling sites can rig their games only to take more advantage. Investing is also not about steady gains especially in crypto where volatility is high. An addict is an addict, that's why they are obsessed. You don't need to become one to be able to fully understand them.

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Quote from: Silberman on May 12, 2022, 05:29:25 PM

Quote from: madnessteat on May 12, 2022, 02:45:37 PM

Quote from: delfastTions on May 12, 2022, 06:37:10 AM

The paradox of a person's behavior when he gambles, I think, is that even knowing this person well, you can make a big mistake. The reaction of this player to both losing and winning can be in a way that you could not even imagine. Someone, because of losing even a small amount, can become depressed, while the other person, on the contrary, cheer up or just pretend to have fun. By the way, it is at such moments that you can get to know this person much better, which is generally good for further communication with him.
This is where I see the great benefit of such paradoxes.

Yes, if a person is duplicitous or hides something from you in a stressful situation he is more likely to show his true gut. Losing in a casino is a good situation to see what a person is capable of when he loses self-control. I have seen first-hand experience of a man becoming uncontrollable while losing and throwing his fists at the people who came with him to the casino. Such situations are a great demonstration of who can fail in a really difficult life situation.

There are some that say that adverse conditions forge your character but I believe that they reveal your character, you can see how people really are when they are faced with some difficult circumstances, there are some people that cannot deal with them and they either get mad or they break, however there are many that can just accept it and immediately move on with their lives, which is the right way to deal with this as you can always recover the money you have lost in a gambling session.

Yeah, it seems that asking your friend to gamble and see his reaction is an inconspicuous and fairly reliable way to get to know this person better. However, those of your close people with whom you have been living together for a long time, you know better even without gambling. So the method is only suitable for those people with whom you have recently met or recently began to work together.
In general, you just need to go to the casino with this new acquaintance.

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Since the market has been shaking and the world is in different events that we don't like. Esports action specific to Dota 2 is back and they're in Stockholm majors.

This is like 2nd type or in line of prestigious tournament for Dota 2 and that's what I'm doing right now. Looking at the teams and more exciting since it's quite a while since the last tournament that the top teams have been altogether.

The matter on this tournament right now is that there are no Chinese teams, so sad that they were not able to secure their requirements going abroad.

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Quote from: madnessteat on May 12, 2022, 02:45:37 PM

Quote from: delfastTions on May 12, 2022, 06:37:10 AM

The paradox of a person's behavior when he gambles, I think, is that even knowing this person well, you can make a big mistake. The reaction of this player to both losing and winning can be in a way that you could not even imagine. Someone, because of losing even a small amount, can become depressed, while the other person, on the contrary, cheer up or just pretend to have fun. By the way, it is at such moments that you can get to know this person much better, which is generally good for further communication with him.
This is where I see the great benefit of such paradoxes.

Yes, if a person is duplicitous or hides something from you in a stressful situation he is more likely to show his true gut. Losing in a casino is a good situation to see what a person is capable of when he loses self-control. I have seen first-hand experience of a man becoming uncontrollable while losing and throwing his fists at the people who came with him to the casino. Such situations are a great demonstration of who can fail in a really difficult life situation.

There are some that say that adverse conditions forge your character but I believe that they reveal your character, you can see how people really are when they are faced with some difficult circumstances, there are some people that cannot deal with them and they either get mad or they break, however there are many that can just accept it and immediately move on with their lives, which is the right way to deal with this as you can always recover the money you have lost in a gambling session.

madnessteat

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Quote from: delfastTions on May 12, 2022, 06:37:10 AM

The paradox of a person's behavior when he gambles, I think, is that even knowing this person well, you can make a big mistake. The reaction of this player to both losing and winning can be in a way that you could not even imagine. Someone, because of losing even a small amount, can become depressed, while the other person, on the contrary, cheer up or just pretend to have fun. By the way, it is at such moments that you can get to know this person much better, which is generally good for further communication with him.
This is where I see the great benefit of such paradoxes.

Yes, if a person is duplicitous or hides something from you in a stressful situation he is more likely to show his true gut. Losing in a casino is a good situation to see what a person is capable of when he loses self-control. I have seen first-hand experience of a man becoming uncontrollable while losing and throwing his fists at the people who came with him to the casino. Such situations are a great demonstration of who can fail in a really difficult life situation.

dunfida

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Quote from: Peanutswar on May 12, 2022, 11:54:49 AM

Quote from: AmoreJaz on May 09, 2022, 07:29:26 AM

Quote from: ipanks on May 09, 2022, 04:48:29 AM

Quote from: madnessteat on May 09, 2022, 01:22:50 AM

snip

But unfortunately, many of us don't want to learn to stop immediately after winning but decide to keep playing. They will see what happens after they lose and have no more money in their balance. That's when they will regret it but unfortunately, they won't be able to get their money back. Even if they could, they would have to use other money to get back into the game but that doesn't guarantee they will win their money back or even recover their money back.

i guess we are guilty also of such attitude at one point in our gambling life. so more then likely, most of us know that kind of feeling. it is indeed up to the gambler to what extent he will follow his desires. but to avoid losing what you have, you better make up your mind before it is too late. using someone else's money for gambling is a no no for me. but for those who do that, they will learn their lessons quick.

There are some people does not have a self-awareness that they are already losing a lot of assets tru the gambling and this is not a good thing because we know how does the gamble can do if you are having a over-committed of your emotions such as in winning you want to urge more to get profit but it causes to lose more in some chances and in losing you want to play more because you want to earn back all your losses. Having a consciousness and plan to play such as what game, what amount to hit when you lose or to win.

Some do really make themselves dumb or simply doing things intentionally even if they are aware but still they do really tend to continue just because of their greed and its one of the most common factor on why people

do really proceed on playing despite of the conditions that they are experiencing on where losing money is inevitable but if you do treat gambling as an entertainment
and not losing that much of money then you are still in a good situation but if things turns out to be that badly affecting your finances then you should really stop
right away.

Topic: The Paradox of Gambling behavior (Read 1467 times)