Topic: The Paradox of Gambling behavior - page 5. (Read 1467 times)

Gambling in casinos and playing lottery is very different for me from betting on sports games. I have different motivations and expectations at each type of gamble. Sport betting for me is all about winning and making money. I make a bet on a team where I believe there is a good chance of winning. If I lose I hate being wrong and it's also the money that is gone. Usually I only bet on games that I like to watch anyways, so betting makes it a bit more interesting, but also let's a loss hurt more. And if I lose money a few times in a row I will take a break from it.
Gambling is mostly for fun for me, I love games like poker, black jack, dice and roulette. For years I have been playing them in online casinos and on offline casinos. I enjoy making some profits but I don't feel bad if I lose one night. It's part of the game, I know that in many games the casino has an edge over me. My goal in gambling is to have fun while keeping the losses small. And any bigger winnings I try to save.
Lotteries for me are not about fun and not about making money. I studied to much mathematics to know that winning big in a lottery is nearly impossible. For me lotteries is only a hedge among friend to not left behind. Once there is a new big jackpot we all pool together our money and buy the lottery as a group. So far we haven't won anything more than the money we put in. But I am only part of it because if they ever would win I don't want to be only guy in the group that's not a millionaire.

If gambling is a game of win win, that is, there is no loser,  and everybody wins whenever everyone would have played gambling. But the fear of losinf the games make a lot of people stay away from gambling. Though everyone has his or her own Gambling site to play their best games. Most people like casino games, some like tennis, whistling and succer. As for me I like to play with football and wrestling. Because they are more popular than other games. Although all games have similar way of playing it, which is prediction. You must predict the game you are about to play. Both online or offline. Even the one you are involved need prediction.

Even though gambling needs prediction, you still need to learn the technics and master the methods to play. Those who know the ways of playing gambling rarely lose. Some times they lose once a day out 5 or more games played in the day. But if you are the type that does not know the ways of the game then the professionals would use you to make Money.

Yeah, and I know people that do it for a living in real life. They've been into it and I'm very much intrigued that they're doing it well and winning decent amount per bets.
And for betting with unfamiliar sports, this is really happening when you have nothing to bet for and you just want to see it goes around, so you want to try your luck.

That was my point. Which is why trading, or gambling based on the theory would be unprofitable/impractical, and not worth the time of plebs like us. The COVID-19 Pandemic that crashed the markets during March 2020 was a Black Swan. Some might have profited by risking the low, but most have been liquidated out of their positions because no one was ready.

Plus did Nassim Taleb actually trade based on Black Swans?

It is not easy to see black swans ...

It is even more difficult to react quickly and take the right actions (adequate in the current situation).  First of all, you need to be observant.  A classic example of a Black Swan is a tsunami.  How can a tsunami be predicted?  Before the wave destroys the coastal city, the coastal seabed will be completely exposed.  First, the sea leaves, and then a tsunami arises.  The "Black Swan" is preceded by strange unusual events.  If you see something that has never been before, then the Black Swan is coming soon. 

However, it is not easy to make money on the Black Swan, because the standard causal relationships (built according to the old patterns) do not work in the Black Swan situation.  But if you were able to foresee the onset of the Black Swan, then it makes sense to act outside the box, this increases the chance of winning. 

At its core, the Black Swan is an event that breaks the balance.  There are strong vibrations in the system.

Gambling is an addiction and when its too much on the mind and nerves of the body it is not a good thing.
We don't gamblor - and even if we do we don't mix gambling money with our hard earned money. That is the common tradition in our culture. I am not sure if people like to gamble all the time.

The main reason why we gamble is to make extra profit while some gamblers take it as a full time work. Although our reasons of gambling is very different from one another. Gambling merely looking at it looks easy with high chances of winning but that is not so, the chances of winning is very slim even in sport betting where it is not always based on skills.

The chances of winning are but always thesame and it can be based on luck. I have played many sports and my average winning was not up to 50%. Sometimes my loses are much than the profits. Every gamblers do have the thought of winning the next game.

the edge is always there when you practically live and breath the sports you are betting on. this is why there are sportsbettors that can make a living out of this. also, when we are betting on a particular game, of course, we are hoping that we will win. so it is not advisable to bet if you have no idea with the sports. it is like you are playing on your luck not on your knowledge. for me, you are just wasting your time if you have no idea what you are betting with.

It also depends on my mood, sometimes I like this and that and there will be times that I don't like it. But I know what I like and what I want to try.
The games that you like and understands is much better to bet with and in your case, in sports betting. You know your category and you know information that would really give you the edge.

This should be for every game. We bet for the games that we know that we have information and know how to watch the game itself.
There are new bettors that just place their bets and gamble even without knowing the actual game because we're all free to do that.  I have done that before with other sports that I don't know and not familiar with.

Gambling industry wont really be becoming this big if there were no that dopamine kind of experience.It wont really becoming that huge if we wont really be experiencing those kind of things.
Its normal that people would really be seeking out for leisure but in majority we are really aiming for making money and this is where possible problems been created.
Once you do have intent on getting rich or making it as a source of income then you are making the biggest mistake of your life.

I wouldn't like the game if ever I won instead I will be very happy that I won. It's not about winning the game then you'll like it, I'm sure you know that winning does not happen all the time so, I would ask you that if you didn't win then you won't like/love the game even if it's your favorite game?. My point is, congratulations for winning not for liking the game you played. I have said that I find some gambling games very boring and that means I am still looking for a games where I will enjoy playing and possibly winning.

No matter what it is but once we win, that's the time we will start liking that game. Some people just don't have patience but playing on lottery can make you loss less money and it can be more exciting than any other instant games. You should try it out sometimes. I have tried sports betting before but I am more into esports because I am also addicted on the games that are being played on the esports category.

I have an edge on them to win than sports betting because I know how the games work. I am familiar with the players/team and other stuffs. I still do play lottery games on top on that, only to test my luck because it is hard to win on lottery games.

I'm somewhat guilty of this.

I no longer play for the win, I just play for the sake of satiating my desire to play. Though that's the case, I can manage to play for hours on end with $20 on weekends by placing very small amounts if possible. Time-consuming and counter-productive, yes, but I find it satisfying to see greens in a long streak of red every once in a while. I already have a job that pays well and demands very less, hence why I don't feel the need to win but rather enjoy.

Everything has a price and leisure from gambling has a costly price, why do gamblers throw even their last penny for that session is it in the hope of winning and recovering what they lose, I don't think so it's more on satisfying his desires to win and you are right to experience dopamine, the dopamine needs will increase as they continue playing and this is how gamblers become compulsive gamblers, it's not on money it's more on the pleasure of playing

People getting back and back again because they are enjoying the game itself we know the possible risk given by the gambling but still, they want to play the reason is they got entertain what they are doing at the same time is they making a high-risk reward to themselves if they manage to win they will still continuously risking we know the mindset of the people greedy always a greedy. Even though they lose the money still they are enjoying and getting addicted. Mostly this happens in slot games. In sports betting we know how really enjoy, love and support the team we want so no matter what happens still we support them we are willing to take the risk to the things gives us satisfaction.

Gambling has its advantages and disadvantages. Most often, people just recognize the bad side of it because of how it affects the lives of those people who indulged in it. When in fact, to begin with, those people with limited to no self-discipline are the ones to be blame because they have let themselves engage way beyond what they can handle. Addiction is a serious problem, and for one to be not addicted to something, it would take a lot of self-restraint and firm boundaries which some people fail to establish early on.

Hence, they fall into the trap of addiction. The good side is, anyone can recover from it if they would want to and if they are really determined to overcome it and ditch it. However, it wouldn't be a smooth sailing journey towards rehabilitation, but as long as someone is eager to be freed from it, it's possible. Tremendous work is required but it is feasible to do.

He said "he was not like" which means he is on the right track. He is not addicted or something but he only explains the bad effects that gambling can do a person. Gambling has no negative consequences if you only use it for entertainment purposes but only those who play for the profit will think that it has consequences and that is to lose money if they don't win.

There is nothing wrong in gambling but some people think there is. They do anything that they can think of to ban gambling so that no more people will get addicted to it but they don't know that it was actually the fault of those who get addicted. They are ruining the reputation of gambling.

Football soccer actually is the most recognized game and gambling sport that has made fame all over the world, i see many having interest into football game because is what anyone can easily play, see, enjoyed and predict base on the ability of a player or the team representing, but I think there are other games as well that make fame and could be a good advantage on gamblers even though much attention aren't given on them, such as ice hockey, table tenis and marathon race, playing those games on casinos gives more odd even than football itself as some games are just in it uniqueness unpredictable and the odd place on staking onbthose game could be surprising.

It's not that simple. Yes in theory it sounds nice, but for us plebs how can we use that in practice, both in trading and gambling? Give me your suggestions of which Black Swan events that you believe might happen, and let us observe if they will be profitable bets/trades or not.

Plus it's very hard to trust Nassim Taleb, a book writer/book seller, if he doesn't show any track record in trading. He has been in support of BSV too. Yes, Craig Wright's BSV.