What would you do with your winnings? - page 71.

boyptc

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Quote from: dylanc on January 17, 2017, 06:23:42 PM

Hopefully, I will have the good sense to invest it in something worthwhile.

That's a good way of using your winnings but to be specific what is/are the investments that you think that can be worthwhile for you? For me, I will use it for trading and I will save it for holding and if I keep on winning, I will use some of it for using as my capital in gambling so that my capital will be safe already.

dylanc

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Hopefully, I will have the good sense to invest it in something worthwhile.

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Quote from: crwth on December 11, 2016, 10:26:14 AM

I've read here a lot about "Gambling doesn't make you rich" So I thought about it, and it does make sense. So what do you feel about gambling then? Just entertainment? I think that's not everybody's mindset.

In the back of my mind, I want to be rich but not because of gambling. But when I gamble, I still always want to win. So when you always win, you become more rich and more risk will be involved. Anyway, if I would earn a winning bet that would have a lot of profit from, I would withdraw the initial bet or the bitcoins I deposited to get it back, then still gamble.

If you would have a winning bet that would give you a lot of profit, what would you do with it?

Wanting to win in a game is natural and I think no one plays a game with the intention to lose, but when you gamble you must know the math is simply not in your favor and that you are not going to win, that is why you gamble only for fun and not to win.

OshiHugo

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Probably enjoy some and invest the rest.

Dammitt

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I personally would prefer to bet on the rewards with my earnings unless I win big. When you are betting you have to be a good strategy, and it usually does not mean you have to shoot unless you win in large quantities.

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Quote from: dothebeats on January 15, 2017, 04:10:26 PM

For my winnings, I just keep them and not really touch it unless I feel the need to do so. I'm not a one-day millionaire and I understand that it is really hard to get a hold of these coins to begin with. I don't gamble them back once I already won a certain amount instead I just keep them on a cold storage and forget about them, just like what I do to the coins I bought and sold once I already profited a lot.

Well that's a way to secure a profit. Your style is almost like mine except that I haven't profited a lot so I probably need to do some more work concerning bitcoin (for payments) Gambling is a way also to earn and you need to have a sure strategy right? It's not fun when you lose. Sad

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Quote from: bajing on January 15, 2017, 01:08:25 PM

Quote from: crwth on January 15, 2017, 12:43:55 PM

Quote from: arwin100 on December 23, 2016, 09:26:27 AM

If i win, i would store it on my wallet first then after i gather enough bitcoin/satoshis. I will cash it out and put it in a bank. 'coz that's the easiest and safest vault (away from hacker). And also there is an interest on a bank. While you are putting a trust on the bank your money there will have a little interest. But it's okay at least you have a passive income. That's all my winnings go. So i think other people have many ideas where to put there winnings.

In my case, I use my cold storage to store all my winnings so I would definitely keep it and stay unspent until I have enough or possibly, at the end of the year. I'm trying to get all my winnings and limit myself even if it's a small profit. I don't intend to use banks because of the small interest rate they give and Bitcoin is actually created to prevent third parties so you would be in your control of your money.

it seems you are a smart gambler, not much of a gambler who thinks will store their money, I think this is a pretty good feeedback and possibility I will imitate because most of my winning is used for something that is not important.

Savers will always end up good future. But if the money came from gambling or fast money that will end up fast too but I don't think so that it will end up to you. What will do with my winnings is that I will do the same and save some but for the rest of it, I will going to invest into some other profitable things such as trading and bankroll's.

Yeah, that's what I also think. It's for the future and I hope that Bitcoin becomes strong in the long run. When considering winnings, I store it in my cold storage, just what I said above. It's a way to control my spending also, so I wouldn't easily use it. I haven't tried investing with my bitcoins because I think it's not enough yet.

crwth

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Quote from: Amadues on January 15, 2017, 01:13:10 PM

Quote from: crwth on December 11, 2016, 10:26:14 AM

I've read here a lot about "Gambling doesn't make you rich" So I thought about it, and it does make sense. So what do you feel about gambling then? Just entertainment? I think that's not everybody's mindset.

In the back of my mind, I want to be rich but not because of gambling. But when I gamble, I still always want to win. So when you always win, you become more rich and more risk will be involved. Anyway, if I would earn a winning bet that would have a lot of profit from, I would withdraw the initial bet or the bitcoins I deposited to get it back, then still gamble.

If you would have a winning bet that would give you a lot of profit, what would you do with it?

When I win (normally small amount) I use it for paying "bus card" "charge my phone" and other little expenses that I can afford with a real or virtual credit card.
Sometimes I try to save also a 10% of each win in a cold wallet, just to not spend all funds in some bets or service

That's a way to deal with your earnings, at least it's helping you reduce your expenses even in little things. It's really a way of life, looking for possibilities to earn. That's how I deal with my winnings, using my cold wallet, I'm going to be lazy in making a transaction with it because it takes a lot of work. It's helpful that it's like that, you can't just spend it. Just save it for something better.

crwth

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Quote from: bajing on January 15, 2017, 01:08:25 PM

Quote from: crwth on January 15, 2017, 12:43:55 PM

Quote from: arwin100 on December 23, 2016, 09:26:27 AM

If i win, i would store it on my wallet first then after i gather enough bitcoin/satoshis. I will cash it out and put it in a bank. 'coz that's the easiest and safest vault (away from hacker). And also there is an interest on a bank. While you are putting a trust on the bank your money there will have a little interest. But it's okay at least you have a passive income. That's all my winnings go. So i think other people have many ideas where to put there winnings.

In my case, I use my cold storage to store all my winnings so I would definitely keep it and stay unspent until I have enough or possibly, at the end of the year. I'm trying to get all my winnings and limit myself even if it's a small profit. I don't intend to use banks because of the small interest rate they give and Bitcoin is actually created to prevent third parties so you would be in your control of your money.

it seems you are a smart gambler, not much of a gambler who thinks will store their money, I think this is a pretty good feeedback and possibility I will imitate because most of my winning is used for something that is not important.

Well, I've been in both parts in my experience. I have been a very unstable gambler and eventually lost all my bankroll and I was pretty sad about it. It's not much a big deal to rich people but it did to me. You should really do the same, it helped me a lot control my greed and look for strategies that work. It's better to use your winnings to something useful, probably at the end of the year, you could buy a gadget for yourself or something.

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Quote from: romero121 on January 16, 2017, 11:24:46 AM

The winning is used to increase the betting amount for the next events and possibly if I make few continuous winning then used to save a small amount in a separate wallet for my daily needs or for the conversion to fiat.

Yes this is what should be done. With your winnings, you can add the amount of your bet, but you also have to keep most of your money for your daily needs. Remember life is not only a matter of gambling, your life is not just sitting on the monitor. Gambling may be a source for the money, you use your money to add money. But you also have to eat, have to pay the cost of electricity that your home can be a gamble.

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Quote from: daringdiscovered on January 17, 2017, 05:56:23 AM

If i would win big in gambling i will have a business with it. Like a small restaurant or convenience store. I would not risk it in gambling again. No one can say when will i earn that kind of amount from gambling again. When i have a business i would have a stable income. If its giving good profit i don't need to work and just focus to my business.

most of the people who play gambling they have one thing in their mind to make more and more money so that to lead a luxury life. they actually want all these thing in shortcut. and they consider gambling as one of the shortcut way of fulfilling their wishes.

daringdiscovered

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If i would win big in gambling i will have a business with it. Like a small restaurant or convenience store. I would not risk it in gambling again. No one can say when will i earn that kind of amount from gambling again. When i have a business i would have a stable income. If its giving good profit i don't need to work and just focus to my business.

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Quote from: poplolnman on January 17, 2017, 04:10:51 AM

Quote from: jseverson on January 17, 2017, 02:07:22 AM

Quote from: MWesterweele on January 16, 2017, 11:43:09 AM

Doesn't mean you win you're going to be rich im always save my winnings from gambling i always gambled my profit when im boord and trying to make things much more better. I separate my wallet from gambling to tradings because i want to count how much my profit is.

Disgaree, What if your winnings are continuous? I think it makes you rich. Gambling is one of the best way to become rich there are many people relying on gambling for their daily expenses

lol keep dreaming , you won't be rich through gambling unless there is super luck hits you. to gamble regularly would always have a negative EV , you couldn't win and get profit in the long run , if you experienced enough in gambling you would know how struggle you are to make your profit in gambling consistently , it's like a mission impossible , everytime you try you would fail.

Indeed. If you gamble without controlling yourself, you even get poorer. I do not know why people tend to think that gamble will help them and make them become rich in the future. In fact, I have seen many people get bankrupt due to gambling and it is not a fun experience. Becoming rich in gambling is likely to be daydream

poplolnman

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Quote from: jseverson on January 17, 2017, 02:07:22 AM

Quote from: MWesterweele on January 16, 2017, 11:43:09 AM

Doesn't mean you win you're going to be rich im always save my winnings from gambling i always gambled my profit when im boord and trying to make things much more better. I separate my wallet from gambling to tradings because i want to count how much my profit is.

Disgaree, What if your winnings are continuous? I think it makes you rich. Gambling is one of the best way to become rich there are many people relying on gambling for their daily expenses

lol keep dreaming , you won't be rich through gambling unless there is super luck hits you. to gamble regularly would always have a negative EV , you couldn't win and get profit in the long run , if you experienced enough in gambling you would know how struggle you are to make your profit in gambling consistently , it's like a mission impossible , everytime you try you would fail.

Whosdaddy

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Quote from: Fatanut on January 17, 2017, 03:24:29 AM

The only thing people with the same mindset as yours only have their bankroll as limit. They won't stop until they lose every thing.

This mindset comes into effect because gamblers do get their emotions failed and becoming greedy. Regardless of how much they are sure about the chances of winning in next round, they will risk their winning amounts blindly.

Having a proper gambling plans to limit rounds will seems the solution for this. Unfortunately gamblers are known for breaching their plans again and again, means there will be no solutions found yet other than completely quitting gambling.

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Quote from: jseverson on January 17, 2017, 02:07:22 AM

Quote from: MWesterweele on January 16, 2017, 11:43:09 AM

Doesn't mean you win you're going to be rich im always save my winnings from gambling i always gambled my profit when im boord and trying to make things much more better. I separate my wallet from gambling to tradings because i want to count how much my profit is.

Disgaree, What if your winnings are continuous? I think it makes you rich. Gambling is one of the best way to become rich there are many people relying on gambling for their daily expenses

Uhmmm. What if I told you that is much much more likely for you to have continuous losing streaks than winning streaks? With your mindset, the "what if I win more" mindset, you can never stop gambling. When you win, you'd bet even more because you're probably thinking that you're lucky so you'll win and win and win until you get rich. You better kill that thought.

The only thing people with the same mindset as yours only have their bankroll as limit. They won't stop until they lose every thing. Regardless of how much win they get, they wouldn't stop because they'd think "what if I win more". Roll Eyes

Ziskinberg

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Quote from: jseverson on January 17, 2017, 02:07:22 AM

Quote from: MWesterweele on January 16, 2017, 11:43:09 AM

Doesn't mean you win you're going to be rich im always save my winnings from gambling i always gambled my profit when im boord and trying to make things much more better. I separate my wallet from gambling to tradings because i want to count how much my profit is.

Disgaree, What if your winnings are continuous? I think it makes you rich. Gambling is one of the best way to become rich there are many people relying on gambling for their daily expenses

Don't gamble on the intention to be profitable when you are not convince that your skills will bring you there. Most of us are relying solely on our skills and we always push our luck because we are thinking we can have more if we continue and because our mind is close for the possibility of losing then it will be hard for us to accept the defeat. It should not be like that, we should be very realistic when it comes to this risky game.

jseverson

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Quote from: MWesterweele on January 16, 2017, 11:43:09 AM

Doesn't mean you win you're going to be rich im always save my winnings from gambling i always gambled my profit when im boord and trying to make things much more better. I separate my wallet from gambling to tradings because i want to count how much my profit is.

Disgaree, What if your winnings are continuous? I think it makes you rich. Gambling is one of the best way to become rich there are many people relying on gambling for their daily expenses

ShodanEnkidu

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I'm saving money for buying an own flat. I plan that when I gathered enough, I will turn also my BTC to reach this right cause Tongue

However I will still need to gamble (and hopefully win) a lot for this... :S

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Quote from: abel1337 on January 16, 2017, 11:32:14 AM

Quote from: romero121 on January 16, 2017, 11:24:46 AM

The winning is used to increase the betting amount for the next events and possibly if I make few continuous winning then used to save a small amount in a separate wallet for my daily needs or for the conversion to fiat.

Thats my way of saving money from gambling games too, I save small amounts on separate wallets in order to save bitcoin and use it up when I want to regain my losings, Increasing your bet on a consecutive win is an technique buy you need to be aware that gambling sites has houseedge. Know our limits

but to me i think it depend on the amount of winning. if you are making good money in gambling the you can even store some of it, but if you are winning a small amount then it ok for your expenses and you cannot store any amount from it.

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