Why one should apply wisdom when gambling!

Antotena

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Quote from: Victorybit1 on September 23, 2024, 04:39:02 AM

The reason why it is important to gamble smart is because there's a difference between gambling and having the wisdom to make good decisions. Normally, I would have cashed out on this game, but because of my previous experience, I decided to leave it and still ended up losing everything. However, I find solace in the fact that a successful gambler doesn't chase losses and is able to control their emotions during both winning and losing days.

In gambling, you win some and lose some. But in all things, let's strive to make smart decisions and avoid letting greed take over. Cut 1 game out of the 26 I played Yesterday.

I don't know how much odd you bet that amount for but I can say it's not a small odd of 10 matches and from that amount, the currency looks much like the bet was settled in Naira and you have made almost 38x of your money stake, you should have been reasonable enough to half of the money if you are not sure of the games outcome, there should be something up there telling you to take the cashout but you gamble it and loss everything.

If you have take the half of the cashout and leave the rest, it's going to be a 50-50 win even though the rest of the potential payout will be reduce. It doesn't reduce the fact that you have already cashout more than what you have risk in the game and in the event no longer go as you expected the games, you will be happy for taking out that portion of cashout. Perhaps you should try it next time you see the opportunity, don't hesitate.

Hatchy

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Quote from: Victorybit1 on September 23, 2024, 04:39:02 AM

In gambling, you win some and lose some. But in all things, let's strive to make smart decisions and avoid letting greed take over. Cut 1 game out of the 26 I played Yesterday.

Though I won't blame you, as it's a normal thing for us gamblers to want to take bigger risk and hold some bets open for longer time. It's tempting though but for me something as huge as that I would have just cashed out. Though you have learnt a lesson from this experience that gambling is just by applying proper wisdom. One doesn't have to always be greedy when it comes to taking your wins. One good win can cover up all your losses for a very long future time. So it's better to always apply proper wisdom when it comes to gambling..

tvplus006

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Quote from: the rise on September 23, 2024, 02:39:48 PM

Every gambler will definitely experience frustration, especially when the loss is beyond expectations, we are very light to say, "gambling with money you can afford to lose" but still when the money is lost we will feel very upset, this is where it is important to apply discipline in gambling, not chasing losses

Well, this rule applies not only to players, but in general to all people who also feel disappointed when something does not go according to the planned plan. But what players must have is the ability to stop and soberly analyze the reason for their loss, otherwise the loss will be even greater.

Cookdata

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Quote from: Victorybit1 on September 23, 2024, 04:39:02 AM

The reason why it is important to gamble smart is because there's a difference between gambling and having the wisdom to make good decisions. Normally, I would have cashed out on this game, but because of my previous experience, I decided to leave it and still ended up losing everything. However, I find solace in the fact that a successful gambler doesn't chase losses and is able to control their emotions during both winning and losing days.

In gambling, you win some and lose some. But in all things, let's strive to make smart decisions and avoid letting greed take over. Cut 1 game out of the 26 I played Yesterday.

As real fellow bettor or sport bettor that you are, here is something I want you to know today. If you have stake your money on any game and your plan was to bet and win those games, stick to it and let it play out. If it goes as you expected, fine and if doesn't, there is nothing absolutely you can do about it, just improve on the next one bet because you can't control what happen in the games sometimes, nobody expects Trosard to be do that foolish mistake that result into red card yesterday.

However, you can mitigate this kind of mistakes, any time you bet on games like this, don't cash out when you see opportunity to do so because you never can tell if it will still go as you initially bet but you can do some damage control before the beginning of the playing. Always bet the same games again with the same amount and give it an option to flex 1,2,3 and so on depending on how you think the ticket might cut, so that even though one team fumbled later, you can still win instead of making hard decisions of chasing out or not and you will be fine.

Oilacris

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Quote from: Victorybit1 on September 23, 2024, 04:39:02 AM

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The reason why it is important to gamble smart is because there's a difference between gambling and having the wisdom to make good decisions. Normally, I would have cashed out on this game, but because of my previous experience, I decided to leave it and still ended up losing everything. However, I find solace in the fact that a successful gambler doesn't chase losses and is able to control their emotions during both winning and losing days.

In gambling, you win some and lose some. But in all things, let's strive to make smart decisions and avoid letting greed take over. Cut 1 game out of the 26 I played Yesterday.

It should really be something like this on which on the moment or time that you do play gambling or making up some bets then you shouldnt really be chasing up loses on the time or moment
that you do deal up with it. Yes, you do win some or lose some and thats the reality of it and this is something on where you should really be that accepting, because on the time or moment
that you do find yourself having being that too delusional or into the moment that you do find yourself that being too impulsive on things, then you will really be finding this thing to be an issue later on or a problem on which it will really be that hard to be resolved. Play gambling according into your leisure and entertainment seek on and not for seeking money because this will really be that making
you desperate on the time or moment that you do find yourself such problem.

the rise

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Every gambler will definitely experience frustration, especially when the loss is beyond expectations, we are very light to say, "gambling with money you can afford to lose" but still when the money is lost we will feel very upset, this is where it is important to apply discipline in gambling, not chasing losses

acroman08

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Quote from: Victorybit1 on September 23, 2024, 04:39:02 AM

However, I find solace in the fact that a successful gambler doesn't chase losses and is able to control their emotions during both winning and losing days.

In gambling, you win some and lose some. But in all things, let's strive to make smart decisions and avoid letting greed take over. Cut 1 game out of the 26 I played Yesterday.

as long as you don't chase losses I guess it's good enough, not every gambler can stop themselves from chasing losses.

regarding your bet, I would have cashed out that, the fact that you were able to win more than 20 games on that bet slip is impressive enough since the chance of that happening is extremely low. I wonder how many times have you been able to win more than 20 games on a 26 game parlay.

Oasisman

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I know right! Especially in sports betting. You apply knowledge and analysis to be able to understand the odd and minimize the risks of losing. That alone, you are already using your wisdom. But hey, that's not the only time you are using it, because after you win, you will need to decide on whether you carry on or cash the money out. Though sometimes, wisdom may not be enough. As far as I know, those who have patience are the most successful ones when gambling.

Akbarkoe

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Gambling wisely is very important. What separates gambling for fun from gambling wisely is the ability to make the right decisions, especially when things go wrong. It takes experience and self-control to not get carried away by emotions and chase losses. Every game has the possibility of winning or losing, and one needs to have the knowledge to know when to stop, rather than getting greedy. After all, wise choices are far more valuable than chasing wins without limits

Quote from: ChiBitCTy on September 23, 2024, 11:55:46 AM

Since I do a good amount of gambling a good bit of my friends realize this and will sometimes ask me for guidance, but I can't count how many of them just made ridiculous bets or didn't set things up properly, which of course ended up costing them plenty

As for things like card games, you've got to have knowledge for most off them, study by reading books or by YouTubing watching. Of course if you do so, make sure the people that you're listening to are TRULY experts.

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Yes, many people jump into gambling without understanding and end up losing big. In card games, for example, knowledge plus strategy are essential. Books and videos by professional experts can be insightful. However, as you said, make sure to learn from people who actually have experience and expertise in the field. Without a solid foundation, gambling will be just speculation without direction.

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Quote from: Victorybit1 on September 23, 2024, 04:39:02 AM

The reason why it is important to gamble smart is because there's a difference between gambling and having the wisdom to make good decisions. Normally, I would have cashed out on this game, but because of my previous experience, I decided to leave it and still ended up losing everything. However, I find solace in the fact that a successful gambler doesn't chase losses and is able to control their emotions during both winning and losing days.

In gambling, you win some and lose some. But in all things, let's strive to make smart decisions and avoid letting greed take over. Cut 1 game out of the 26 I played Yesterday.

This is a nice way to gamble with lees stress. The money that you staked is quite small and you winning bigger with little fund is massive and this is the kind of approach many of us that are gamblers need to embrace. Gambling should be more of less risk and bigger rewards just like in trading, taking a smaller risk to earn bigger amount. It is not always the wise for us to use bigger amount to stake a game with a low turnout compared to the amount of money we have staked. Gambling should be constructive and smart without taking too much risk. If we really want to make bigger amount of money as gamblers, we need to learn how to use small capital to earn big.

ChiBitCTy

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Since I do a good amount of gambling a good bit of my friends realize this and will sometimes ask me for guidance, but I can't count how many of them just made ridiculous bets or didn't set things up properly, which of course ended up costing them plenty

As for things like card games, you've got to have knowledge for most off them, study by reading books or by YouTubing watching. Of course if you do so, make sure the people that you're listening to are TRULY experts.

o48o

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Quote from: Victorybit1 on September 23, 2024, 04:39:02 AM

The reason why it is important to gamble smart is because there's a difference between gambling and having the wisdom to make good decisions. Normally, I would have cashed out on this game, but because of my previous experience, I decided to leave it and still ended up losing everything. However, I find solace in the fact that a successful gambler doesn't chase losses and is able to control their emotions during both winning and losing days.

In gambling, you win some and lose some. But in all things, let's strive to make smart decisions and avoid letting greed take over. Cut 1 game out of the 26 I played Yesterday.

Kudos for the effort! I wouldn't have stomach to keep on watching to the end. Even though in the last game, probability to win is very high. But that's only because probability calculations reset for each seperate game, only as whole, before any games have been played, changes to win are extremely low.

As some context, throwing a coin once, you have 50/50 change to choose correctly, but choosing right 25 times in a row, you have changes of 1 : 33554432 to succeed, before there has been any coin tosses, and in the last throw, it's 50/50 change again. So i completely understand why someone would see that last game and wouldn't quit.

Slow death

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This type of decision that OP made, in my opinion, was not a good decision because in sports betting we always need to take into account that even if we see a game in which the favorite has odds of @1.10, this favorite can still lose the game. And when we have a multibet bet of 26 games, the chances of getting all the games right are very difficult, it becomes similar to a lottery ticket. So if the person manages to get at least 10 games right, it is better that the person should cash out and be content with the profit they made and not look at the results of the remaining games anymore. Because later the person will start to regret if the 26 games are actually right. In my case, I always choose to make multibet bets with only 4 to 7 games at most. to reduce the risk of losing and even then I lose a lot.

adultcrypto

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Quote from: Victorybit1 on September 23, 2024, 04:39:02 AM

Normally, I would have cashed out on this game, but because of my previous experience, I decided to leave it and still ended up losing everything. However, I find solace in the fact that a successful gambler doesn't chase losses and is able to control their emotions during both winning and losing days.

In gambling, you win some and lose some. But in all things, let's strive to make smart decisions and avoid letting greed take over. Cut 1 game out of the 26 I played Yesterday.

Some people will call you greedy for leaving the game to run and not cash it out but the truth is, if you become so used to cashing out your bets, you will hardly win big money because you will always look at the cash out option. The cash out option is good but developing the discipline to allow the game play completely may be the best option on the long run. This is because it is always good to trust one's analysis or any style of gambling after carefully making the selection.

Hewlet

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Quote from: Victorybit1 on September 23, 2024, 04:39:02 AM

The reason why it is important to gamble smart is because there's a difference between gambling and having the wisdom to make good decisions. Normally, I would have cashed out on this game, but because of my previous experience, I decided to leave it and still ended up losing everything. However, I find solace in the fact that a successful gambler doesn't chase losses and is able to control their emotions during both winning and losing days.

In gambling, you win some and lose some. But in all things, let's strive to make smart decisions and avoid letting greed take over. Cut 1 game out of the 26 I played Yesterday.

500 naira to cash out 150k and you're reluctant? Nah, I don't want to call it greed but I wouldn't agree that it's the best of decision you've made, bro. If I'm in your shoes, I would cash out ASAP without thinking otherwise. I know that based on past experiences and the game that's left to be played, thier are a lot in instances when you don't cash out and you get lucky to enjoy the dividend of your patience but such should only be when the amount you're given to cash out from is quite a small amount that's relatively lesser than what you stand to gain if you allow the game run to completion. This is gambling and you don't do it allowing emotions to come into play for any reason. Potential win is not win regardless of the team that's left on the list. Even if man city is playing against a team that's at the bottom on the relegation zone, first cash out and then let what's not yours go. Even though you can't win all your games and your emotion can't be trusted at that occasion, the smartest decision I would normally take will be to cash out first.

Fiatless

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Quote from: Victorybit1 on September 23, 2024, 04:39:02 AM

In gambling, you win some and lose some. But in all things, let's strive to make smart decisions and avoid letting greed take over. Cut 1 game out of the 26 I played Yesterday.

If you had won big, I am sure you wouldn't have created this thread. Most people who are criticising you for not cashing out would have celebrated your courage. I think you made a choice but it didn't go as you predicted. I don't believe that there is greed in gambling; all I see is risk-taking. If a gambler decides not to cash out because he wants to win big, that's not greed; it's simply taking a risk. Most big winners in gambling are high-risk takers. My advice is that next time, if you have the urge to cash out, do that without hesitation to avoid regrets.

michellee

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Wisdom in gambling is necessary needed because you will know how to act based on the situation you get. If you think that is the right time to leave gambling meaning take the profit without think to win more, you will do that. Greediness will not posses you once you know when you must stop gambling.

We should take the profit before that chance is gone and left us with a regret. We can not turn the times back so we will have that chance, no we can't do that. So that is why when we think that we already win and profit from the games, we must get out from the games before everything is change.

With getting more and more experience in gambling should make us become wiser than before. We can act based on the situation and will not rush in gambling.

Dailyscript

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I won't call it greed in that case because you were right to have left the game instead of cashing out. Sometimes it is worth taking the risk and then luck will fall on your side as you win the game. In some cases, you may choose to cash out because you need the available money. To some persons the cash out available is not what they are chasing after that is why they wouldn't cash out. While to others it's a good amount of money to them. Judging from the amount that was used to bet on the game the cash-out value was good in my own opinion. However, you dont have to regret it at all. Some days things will go as planned.

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Quote from: Victorybit1 on September 23, 2024, 07:01:56 AM

Of a truth, no one loves to cash out more than I do. As I mentioned in my post, I recently cashed out on a game that won, which made me overlook this one, hoping the remaining two games left before they gave me the cash out would win. It was my previous experience that made me hold off on this one, but lesson learned.

Man... you read the answers! I don't think, really you're burning money, if you're going to play something like that, you just wait for it to happen and that's it... above you got a very good answer to your situation and it's not the first post in this thread, but that's another story.

A few days ago I hit a 10x and they are generally a rarity in sports betting, let's say they do happen and even for 100x or more... I don't think you're learning the lesson as you say.

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Quote from: Oshosondy on September 23, 2024, 04:46:38 AM

It would be painful if you lost that bet. You used $0.3 to bet to win around $274. That is huge. I do not like to cash out but I will be tempted if I were you. But I may not also cashout. Sorry about the loss.

I can not blame you at all because that is how gambling is. Do not blame yourself that you did not cashout.

It's easy to tell you won't cashout but considering the fact that you might only lose that huge amount in the end, then it's safer to just cashout and avoid too much greedy because that will only cause us to lose more in the end.

Gambling will always be gambling. And the more you gamble, the bigger chances you'll end up losing more of your funds. That's based on experience.

Topic: Why one should apply wisdom when gambling! (Read 343 times)