Why one should apply wisdom when gambling!

TelolettOm

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There are some very crucial skills when we are going to gamble that we must have. At least, we really have and want to be wise and responsible. because, wise and responsible can influence the way of looking at things, mindset, targets, tactics, strategies, and also self-management that is much more appropriate.

and at least, it must be:

Understand and Familiarize the rules of the game
Prefer to real game statistics
Gambling is for entertainment, so stop immediately once you're losing.
affordable and realistic budget.

and more here we can take:

Source: Wise and Responsible Betting in Gambling

being wise and responsible in gambling is not easy, especially with the various temptations about both. Therefore, it does require thorough preparation and also efforts so that we stay to be wise and responsible for any action and decision to take.

Jody.Drummer

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Quote from: AmoreJaz on Today at 08:58:34 AM

It is understandable that some gamblers would really opt not to cash out because they have the target to win big. And we all know that hitting such multiplier is like punch in the air, most of the time. If I was in the OP's position, I might have cashed out especially if I was not very sure about the last bet. Because I already learned my lesson so many times - if I have the chance to get something from my bets, I will.
So don't get too greedy or else, you won't get any penny after seeing such good amount of money. You will end up with heartaches instead.

Not sometimes, but we definitely want maximum winnings from the bets we make. I can understand that feeling because I also experienced it. But when we are not sure about the last match, then I will not think twice to cash it out at that time, because I don't want to take risks and I don't want to regret it in the end. It doesn't mean we won't regret it when we cash it out, because if the last match is on our side, then we will regret it too.
All decisions are in our own hands, so make sure we are ready for the risk, cashing out or not, don't make us regret it because it is our own decision. Very often in a situation like this, and I am sure all gamblers who bet will always be in a situation like this.

Juse14

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Quote from: Victorybit1 on Today at 05:39:02 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.

I go along with smart gambling being vital in striking the fine line between relishing the game and refraining from getting engulfed by significant losses. On some occasions, calling it a day or not chasing after the losses is the smartest action though tough at that moment. It really testifies to the weight of controlling your emotions and not allowing such an appetite to overcome you, wanting to "win back" what you've lost.

Wins and losses are transient in gambling. However, with a little intelligence and some common sense, one can steer clear of the greed trap. Quitting is just quitting, one small part of being in control among many others. In the long run, discipline, and the capacity for rational thinking are more valuable than quick riches.

memehunter

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You should have added more parlays with different permutations and combinations to your remaining bets to ensure guaranteed profit.

AmoreJaz

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Quote from: $crypto$ on Today at 08:48:52 AM

Quote from: Victorybit1 on Today at 08:01:56 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.

At least cashing in is better because you have learned from previous experiences so instead of waiting uncertainly it is better to take this opportunity.

Several times in situations like yours, I have allowed not to cashout but what happened the last match even lost and only regret happened at that time, then there is another opportunity like this then it is better to cashot than to let it.

Let people dislike and prefer to finish first but the chance is still in a 50% state, sometimes with the favored team can lose this can make us even more upset.

It is understandable that some gamblers would really opt not to cash out because they have the target to win big. And we all know that hitting such multiplier is like punch in the air, most of the time. If I was in the OP's position, I might have cashed out especially if I was not very sure about the last bet. Because I already learned my lesson so many times - if I have the chance to get something from my bets, I will.
So don't get too greedy or else, you won't get any penny after seeing such good amount of money. You will end up with heartaches instead.

lovesmayfamilis

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Wisdom is the ability to stop in time. But until you lose, you do not make such conclusions. Where is the wisdom here? However, if you do not waste energy and emotions on experiencing those steps that you think were wrong, you are also wise, since, unfortunately, nothing can be returned, but you must motivate yourself by the fact that you have acquired another experience that can help you next time.

$crypto$

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Quote from: Victorybit1 on Today at 08:01:56 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.

At least cashing in is better because you have learned from previous experiences so instead of waiting uncertainly it is better to take this opportunity.

Several times in situations like yours, I have allowed not to cashout but what happened the last match even lost and only regret happened at that time, then there is another opportunity like this then it is better to cashot than to let it.

Let people dislike and prefer to finish first but the chance is still in a 50% state, sometimes with the favored team can lose this can make us even more upset.

GxSTxV

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Once again, I encounter the nonsense of multiple betting methods and the relationship between sports betting beside hitting a jackpot. When someone places a bet on more than two matches, the odds increases significantly and tempting you with huge returns from a small wager. Some bettors spend thousands of dollars and place hundreds of bets daily, hoping to catch a rare chance at a massive win, just to realize that what they have lost is way beyond what a maximum profit from multiple bets can be surprise you.

However, the harsh truth about multiple betting is that the odds of winning are extremely slight once you start applying mathematical analysis. As in your example, getting 26 correct bets without losing any is not just difficult, but it's nearly impossible. In my opinion, this isn’t about wisdom or anything else, it's simply a matter of pure luck and greed. Betting on multiple outcomes is similar to playing Plinko or any other game with high odds but very low probabilities of winning.

Wexnident

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Quote from: Victorybit1 on Today at 05:39:02 AM

~

Honestly thought it was wisdom cuz you wanted to stop but didn't and won lol. It's honestly not even sticking to your bets (or sticking to them), it's just being able to handle the things that happen afterward. Whether you win, lose, get pissed, get mad, regret, you should be able to handle that calmly and skillfully to the point where you won't get swayed to spend more.

Honestly the only real "wise" thing a gambler can do is to, well, not gamble at all. Outside of that, there's just that dumb bit to us that keep on playing even though we know we all lose out in the end but hey, it can simply just be the price for having fun.

passwordnow

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Quote from: Victorybit1 on Today at 05:39:02 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.

While that is true that we win some and lose some but if I am on that shoe, I'll chase the profit instead. It doesn't matter if I win that bet or not as long as I've got guaranteed profit and my capital is back, that's already fine for me. It depends on your goal and for sure that many will continue with that bet even if there's already a guaranteed profit that you can choose to cash out.

But maybe next time OP if you will be in the same situation again, you'll choose to cash out. I know that it is tempting to proceed with the potential winnings but you have to choose what is best for you. No problem if you continue and won't choose to cash out but if you're in need of money and you just want to take that home happily, control your emotion and withdraw.

BABY SHOES

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I've never succeeded with more than 20 matches in one bet... This time you have the opportunity to cashout so do it, especially if you bet a small amount of less than $1 while a big opportunity is in front of you.

If you profit in front of your eyes... It will not take long for the cashout button to be pressed instead of letting wait for another uncertain match.

You may be free to do so... I don't think you should let this opportunity pass you by.

Accardo

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Quote from: Victorybit1 on Today at 08:01:56 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.

Actually, the pot win is enough reason for us to understand why you didn't cash out at 23 games. It's not a mistake as most other people would say, gambling is always both sides, and we must choose an option. Moreover, the pain would have tripled assuming you withdrew and ended up winning the 26 games. But it will not be as bad as winning nothing.

Victorybit1

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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.

Findingnemo

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Quote from: Victorybit1 on Today at 05:39:02 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.

If I understand you correctly, you didn't cash out at this point and ended up losing everything?

I won't call that wise, I can say brave and bold decision but it's not smart, if you have cashed out at this point you still have made money instead of losing anything and you're not in control you got tempted from your previous experiences for the sake.

I won't mind cashing out and even if I won the game after cashing out, I still can claim that I made atleast some to call it a day.

Nwada001

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Quote from: salad daging on Today at 06:24:40 AM

Don't be greedy, it's better to cashout than lose it all. Cheesy

I wonder how many more matches are left to win this whole bet? The multiplier is already quite big while you bet a small amount, I guess I calculated 150K NGN that's about $80 more which is quite a decent amount of money for you.

Some gamblers will argue otherwise, but for me, I'm always of the opinion of going for a cashout where necessary. As long as there is profit from the amount that I initially used to place the bet, I will cash out.

Besides, anyone who places a bet for more than 6 games, which they can't follow up on, can't say it's for fun alone again, so they should just take the profit and minimise the risk of losing all.

That cashout should be around $91 if converted from my local currency to USD using the current exchange rate.

danherbias07

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Quote from: Victorybit1 on Today at 05:39:02 AM

~snip
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.

You mean, in gambling, you win some, you lose more. Cheesy

That's what I know.

Well, normally that is what we should do. Take a deep breath after losing such an amount and might as well control yourself from chasing losses while taking the rest. It's not like the gambling sites are running away from us, they will just be there ready to take our money if we want to.
With that fact, we can always tell ourselves to gamble again the next instead of continuing it all on the same day that we lose. That adds to the entertaining factor of gambling, we miss it a bit and then we are excited to bet again the next day.

salad daging

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Don't be greedy, it's better to cashout than lose it all. Cheesy

I wonder how many more matches are left to win this whole bet? The multiplier is already quite big while you bet a small amount, I guess I calculated 150K NGN that's about $80 more which is quite a decent amount of money for you.

I know some bettors don't like cashing out before the bet is over, you'll regret it if you don't take this opportunity.
I would still cashout instead of letting it go.

Dr.Bitcoin_Strange

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You would have cashed out the NGN 151,000 and used about NGN 30,000 to stake on the remaining live games. Any time I stake a small amount and get a significant cash out like this, that's what I usually do, mate. Sometimes too, I could stake on that game twice (that's two identical game on two different tickets) and the reason why I do that is because if there is a significant cash out offer, I will cash out the first one and leave the second one.

Sorry mate, you should have taken the advantage when you had it, but you didn't see the lose coming.

Solosanz

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Although I don't like cashout, but 500 to 150K means 300x multipliers, that's huge in sports betting.

I usually only bet maximum of 10x multipliers, so if I were you, I would cashout since I can't take more risk.

But yeah, it's what it's, I guess when you brain and heart think to cashout your current winning, you should cashout it. Regardless the upcoming match ended like your prediction or false, at least you still enjoy your winning.

Victorybit1

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Quote from: Orpichukwu on Today at 05:50:10 AM

This is the reason why sometimes I like to reprint my bet slip after making my first bet. I replace the bet again, and sometimes I remove a few games.

I always reprint my bet slip too. That's why I keep wondering what happened that I didn’t do so for this one. I would have definitely cash out one.

Topic: Why one should apply wisdom when gambling! (Read 127 times)