Bitcoin Forum

what is the right sentence/warning to say to someone who gambles/invests all he has?

IMHO it is a very important sentence and warning for all Investors and Gamblers

please take it serious and vote accordingly

thank you for participating


edit

the following was posted and should get first price ( if we would have a price to give)
https://bitcointalk.org/index.php?topic=2212359.msg22301925#msg22301925
 (https://bitcointalk.org/index.php?topic=2212359.msg22301925#msg22301925)I don't think this is a golden rule just for gambling and investing but for everything in life. If you farm don't grow everything in the same place and don't use all your soik at once plan and spread it out. If you shooting with a bow don't waste all your arrrows all at once. Always Ave some for the next day. Even with food. Don't eat everything today what about tomorrow ? Never ever put everything at risk all at once in any aspect for your life. I just used random examples for people to more easily understand.

Back in the day, when someone was addicted to crypto gambling and lost everything he couldn't gamble anymore because he had no more BTC left in his wallet.

Back then it was very difficult to get BTC, especially if you needed it immedately. There weren't bitcoin ATMs or places like Coinbase where you can purchase instantely with a credit card. There were also miners who were addicted but they also made a small portion of BTC everyday and had to wait to accumulate.

Right now you can't do that. Only way is to seek professional help or gamblers anonymous.

The thread would make more sense if we had a choice to add our own options to that list because right now I feel that list is inaccurate and I don't really like that approach when convincing someone not to gamble. Try that on a addicted gambler,he'd say he's lived his entire hearing that crap and this time isn't special.

On a serious note,gambling shouldn't be overlooked upon,one must take proper mental treatment if they're unable to get over the addiction.

sadly the poll doesnt give this option. but if you tell me what answer I shall add I can do it by editing it.

your right regarding addiction but my poll was not about addiction. it is more about if a gambler/investor shall put all he has on risk

thx for the posting

It also depends on what is the aim.
1-Gamble to get rich or 2-gamble just for fun (the first option is reallly bad approach and usually ends wrong, making more people homeless rather than rich).

Nevertheless for both suits the well known "gamble what you can afford to lose" but I also consider important to pinpoint that gambling can be very addictive.

You're asking us to take this seriously and then post a poll like this
https://image.prntscr.com/image/_xXHHLeOQyC63D84eBhEig.png

It would be best to show him people who lost everything gambling
Give him a simulator and run his strategies a million times and show him how they fail and where

sorry to say that you did not see many polls yet. the important point is the right answer and as we can see most users right now took the famous warning I know. do you think it is wrong?

all casino OPs and Investment companies will tell their customers what?

I don't think this is a golden rule just for gambling and investing but for everything in life. If you farm don't grow everything in the same place and don't use all your soik at once plan and spread it out. If you shooting with a bow don't waste all your arrrows all at once. Always Ave some for the next day. Even with food. Don't eat everything today what about tomorrow ? Never ever put everything at risk all at once in any aspect for your life. I just used random examples for people to more easily understand.

These gambling games are designed to give thrill and excitement so they are very addictive if one can't control themselves. Whoever believes the first point is correct then those guys don't want to work hard to earn money and want a free or easy money that's why they will gamble to earn money. If a person got other things to do then they may not spend more time on these games but if a person is very free then their mind always things about an easy way of making money so try to be busy by other work to avoid or minimising gambling.

If I would have to give a price for best posting it would be this one!!!

Congrats for hitting the nail straight on the head

edit

added this posting now to the main posting

absolutely correct and it looks like that I did a mistake and did the poll for Investors and Gamblers together. I should have separate it because we get answers for both separately. but the correct warning is for both and theerfore I did it together. but you all are right by explaining it for each one.

When the overall experience of gambling is no longer fun that usually means it is time to stop.

For botn gambling and investing it's the rule "Don't use money you're not willing to lose" which I tell everyone, even if the chance to lose is 1% and you'd get double your input back.

Gambling is a game made to make you lose, simple as that.

You are fine in gambling as long as you are doing it for fun (I used to go to the casino with my girlfriend, as any other date). In the moment you play to "earn easy money", you are lost, and you become a fool.

All investments and financial decisions come with a risk factor. Gambling and investment in Gambling are one of the high risk investments/actions you might take. So before you decide what to do with your money, you should analyse the risk and decide how much of your capital should be invested into high risk investments/actions.

I never put all my money into high risk investments. You have to keep a nest egg in low risk investments to protect your wealth from a total wipeout or you will be financially ruined, when it fails.

Those are some rather weird poll options too choose from, with 4/5 basically saying: "fuck that shit, go for it buddy."

People with gambling issues need serious help, not just empty phrases that have been done to death.



Here's the thing though. While each financial decision comes with a risk factor, even if it's just opportunity cost, investing and gambling shouldn't be seen as close to each other as they are seen in crypto. It's understandable given the amount of "investment" opportunities we have in this space. But the moment you thinking about investing like you think about gambling you lose.

fully agree for a gambler not investor. the problem is if he can stop when he crossed this line

very well explained for any Investor thx


wow finally a nice posting and no attack :)

I agree that each casino owner should warn the players with the sentence "dont gamble more than you can afford to lose" the word willing would have a different meaning in this case. I hope you understand my point that willing and afford is a bit different IMO

now what should someone tell the casino or business owner? IMO the same "dont Invest more than you can afford to lose" because we know that variance can be an animal and as you and many here wrote that it is never healthy to go all in as a gambler or as an Investor

I hope we can once agree on something :)

thx

one could write in those 5 answers whatever he likes as there is only one right option. and this right one is the most important one to know IMO

as I mentioned before it was my fault to combine the poll for gambling and investors. it should have been 2 polls one for gamblers and one for Investors ( business/casino owners) because IMO even you are a casino owner with +EV the variance can play dirty and no one should invest all he owns. as you mentioned investing handled lie gambling is a loser

thx

You didn't give good options.

Obviously no one should say, GO ALL IN, or anything like that.
You gave 3 clearly - no - answers.
do you due diligence is fine to say, but isn't really relevant to a gambler I suppose, where an investor would know the cardinal rule would be not to invest EVERYTHING you have.
So from the answers you hae given, obviously it would be, don't invest what you don't have.
If you really want to know the answer to your question, forget the poll, just let everyone answer the way they think

They should add a like button on bitcointalk :)

Good answer

what is wrong with you? why should someone say Go All in? there is only one correct answer for the gambler and the Investor even I put 100 answers there

the correct answer is "dont gamble/invest more than you can afford to lose"

Basically a gambler.... a gambler will gamble everything... including his life if it be.... so if you are like that... you are a gambler....

Where did I say that?

I said it was obvious that no one would say that.

From the options you had mentioned, it is clear that any sane enough person would say "don't gamble/invest more than you can afford to lose"
I only pointed out the fact that there are many more options you could have given instead of obvious ones that no one would vote for.
Basically instead of a poll, just ask people to just state a sentence. Stunna did so, and it was probably more directed for gamblers.

Where did I say that someone should tell a gambler to "GO ALL IN" perhaps you should read my last post again.

In any case. Good luck with the poll. Its actually an important topic in my opinion.

I apologize that I understood your posting wrong. and thx for writing that this is important topic. it is very difficult for a gambler or investor/businessman to strictly  follow the rule " dont gamble/invest more than you can afford to lose"

sorry again

Maybe it should be a mix of both, if you're not willing to lose something or you can't afford to lose it then you shouldn't do it.
And yeah, especially when there's one whale betting & wrecking your bankroll, that's scary

I am generaly against gambling, especially against casinos, bookmakers and similar things.  Except money, many people loose nerves and are mostly in bad mood. And if someone like to gamble he will gamble. Don't think there is warning that will change their mind.

It depends on if I like the person or not. And also if they even ask me for advice or what they should do. I try not to give my opinion on someone else's business until they specifically actually ask me for it.

If it's someone I don't like or don't care about, I'll tell them to bet all in/let it ride/YOLO it.

If it is someone I like and they ask me for my advise, then I'll tell them the standard saying, only bet/risk no more than what you can afford to lose.

IMO  a casino owner should warn every player with the standard saying

an Investment broker should warn all investors with the standard saying

a business owner who invests in his own business should know the standard saying and act accordingly

thx for posting your interesting opinion how you would handle it

Not invest or gamble more than you can afford to loss as all investment comes with risk and gambling is just too risky and you can loss all you have in just one roll.

Its better to just spend 10% of your income or less than that for entertainment purpose monthly, don't just spend all your income to get some fun.

Are you being serious?
You think "best is to go all in", "invest/gamble all you have" , "sell your home and invest/gamble" are valid options for What is the right warning to say to someone who gambles all he has  ???


Ohh, okay
Still, though, that's not a valid option
There shouldn't be only 1 correct answer since such a plain sentence probably won't convince the gambler to stop
You'll have to hit him up with some facts and math and prove him why he's going to lose and why it's not worth it

well said
yes the moment if someone is gambling or investing with all he has the feeling of fear will arise and the fun is gone

I agree with what stunna said here, since gambling should be something fun and just for entertainment then it should not rule your life and you should just gamble with money you can afford to lose.

That also means that the only option that is logically is the last option on the poll.

It's actually none of our business to tell such thing to others when they are gambling their own possession. As a friend and family, we may suggest them a few times but at last it's on their own.

I would propose you to do a poll with your opinion.

It's actually none of our business to tell such thing to others when they are gambling their own possession

what do you think how many will vote for your opinion or

Dont gamble/Invest more than you can afford to lose

It actually depends on what you are invest on, but if you have really huge bankroll which you do not know what to do the only choice is to invest mkst of your money. But I can say you have another options if you want to take some risk to get more money and that is to gamble until get more than enough profit. I am sure people with such huge bankroll will never have any problem with it so I can say both will be the same only risk difference. That is only reason why most of them are hardly choose which one suits them better

There is only one answer to that question and that answer is "Don't invest/gamble more than you can afford to lose".
It is one of the main investing and gambling rules, and some gambling sites have written in help how to be responsible gambler.

My vote goes to don't invest/gamble more than you can afford to lose, but this is something to discuss, answer is not so simple.
While I agree that for gambling everyone should fallow this rule, you can't apply it to every type of investment. Sometimes, if you want to invest you need to invest more money than you can afford to lose and take the risk.
Lets say you want to open a coffee bar and you need loan from bank for that - so you are investing in something you don't have enough money, you are taking a loan and risking money you can't afford to lose. Sometimes this kind of risks are necessary.

thx for the response. that is exactly what I wanted to see if users know that it is the main investing and gambling rule



yes many businesses taking a loan but the loan is secured. why are you saying such a risk is necessary? I agree every business is a risk and therefore the rule is not to invest more than you can afford to lose

lets take the following example
I have a casino and invest all I own and even the last BTC in this casino. would this be acceptable and wise to do?

thx

Its different. If you want to borrow money from a bank and invest it in your business the bank needs to form of collerateral.

You can't just go to a bank and say you need $1 million because you want to open up a McDonalds. You will need some form of collerateal or at least have 50% down-payment, so the entire risk isn't up to the bank.

Pleasure Jackpot Racer !!

I also would like to add since some people here attack you for some silly reason, that yes their money and possession you have are yours but if you offer people an investment or you are a casino you should always keep reminding people not to gamble everything because actually it is the responsibility of the owner to keep reminding users to not be silly. Why ? Very simple. If you asking people for money or to gamble with their money you should always always give them no reason to come back and Complain. You must tell your users so often bit to be silly that there is no excuses they can use against you. It's for safety.

Because the casino or investment warned you to take care and you were prepared many times. Therefore there is no reason to complain in the first place.

Give your users no reason to complain by being totally honest from the start.

I would never ever invest money in anyone or anything that claims it's garanteed. This is crap. Tomorrow is not even garanteed since perhaps I die tomorrow ?

Every investment I made I took time with. I ibew the risks and I made my profits by being careful. Yes I have lost money but I made more then I lost so it's ok. Also never best yourself up for koaing money. You will lose you cannot always win. As long as you win more then you lose you dng just fine.

Take care guys. Think hard and take action slowly.

Like an engineer or wood worker will  always say. Measure 500x but cut only once.

thx for the posting. yep it is different

but how about my question and example?

lets take the following example
I have a casino and invest all I own and even the last BTC in this casino. would this be acceptable and wise to do?

exactly the correct answer of this poll is what every casino OP and Investment company should have written on his site not to get complaints.


very wise


nice one and same if you shoot someone with a pistol you cant take the bullet back

thank you again for a great posting. please let me ask also you before I do a new poll :)

lets take the following example
Jackpotracer, Stunna, Dooglus RHavar etc who have a casino and invest all they own and even the last BTC in their casino and as we know there is always the chance the casino fails and need to be closed and they lose all. would this be acceptable and wise to do?

It would be better to show to him some people who gamble and let him be the judge if he wanted to be something like that. Even if you are giving him some advice about diversification and invest only what you can afford to lose, he will not listen to it if he will not see it in reality what happen to people who gamble a lot. If he experience it himself that it can destroy his life risking the money he can't afford to lose then maybe he would have a realization of what he has done and solve his gambling addiction with willingness.

as long you gave the correct advise you did yours and it is up to the player or Investor to do what he thinks is good for him.

Why don't you take my example?
Why it always has to be your example?
Why it has to be casino?
Why not something else?
Do you think when someone says investment it has to be investment in casino?
Does this topic has anything to do with moneypot?
Why do you think people are not investing what they can't afford to lose when they are opening a casino(lets take brick and mortar casino for example, can we?)?
How much taxes they have to pay when they are opening casino?
Do they take loans for that?
Are you 100% sure that not a single casino owner didn't invest money he can't afford to lose?

---

I can afford to lose 40$ today.

By your theory i shouldn't take risk and take loan from bank, open my own business because i can't afford to lose more than 40$? Nonsense.

ok if you cant answer without attacking so lets see what BS you are writing here. my english is not best but yours seems to be even worse

you have 40$ you can afford to lose! so lose it and have fun! did I say or the most used sentence by casino owners "dont gamble more than you can afford to lose" that you should not gamble the 40$? point me to it? as you can afford 40$ to lose you are fine to gamble the 40$ (win or lose). that is healthy gambling!

now lets take your BS

Why don't you take my example?
please give me/us one!
Why it always has to be your example?
because I asked but you are welcome to give one to me/us
Why it has to be casino?
because we are in a gambling forum and to take a casino as an example makes a lot of sense here. but you are again welcome to give me/us other examples but please connected to the well known and famous "dont gamble/invest more than you can afford to lose"
Why not something else?
what else? a butcher shop? a supermarket? a Bank? etc give me/us some
Do you think when someone says investment it has to be investment in casino?
I didnt say that but as we are in a gambling forum I will take a casino as an example.
Does this topic has anything to do with moneypot?
as MP is a casino provider sure thing that it has also to do with MP. also MP owners should not invest more than they can afford to lose!  any problem with that? are you a co founder or co partner of MP and I missed it?
Why do you think people are not investing what they can't afford to lose when they are opening a casino(lets take brick and mortar casino for example, can we?)?
we all know that people are gambling more than they can afford to lose and Investing more than they can afford to lose and this is exactly the Poll. should they gamble/invest more than they can afford to lose? maybe you missed the topic
How much taxes they have to pay when they are opening casino?
hmm this looks like a slip of tongue or the question was unintentionally posted here.
Do they take loans for that?
loans to pay Taxes?
Are you 100% sure that not a single casino owner didn't invest money he can't afford to lose?
I am sure there are many and same for gamblers. as I said before it looks like you missed the topic or your english is to blame.

it was a pleasure to answer you

I am glad for you that you are out. btw you cant be an alt of a MP owner! think twice :)