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I was just thinking about this because gambling is all about taking risks, where nothing is guaranteed and we don’t even know if we’ll win. so in a way, gamblers are natural risk-takers, and when someone starts a business, they also need that mindset which is taking calculated risks, making bold decisions, and having the guts to push through uncertainty.

So I’m curious, do we have any successful business owners here who could say that their experience as a gambler somehow helped them succeed in business?

The difference is - the calculated risks. In gambling, if you are into luck-based games, you can't calculate your risk, or just treat that you are on the losing side to be safe. Because luck is a big factor to consider when you gamble. Whereas, in business, you have at least direction that you want to go and you already know where you are heading at. There may be similarity on taking the risk, however, for me, gambling is more risky than going to a business you are very familiar with. The chance is much better if you have the passion to that particular business or you are very familiar with the different angles you are venturing with.

I'm a small-scale businessman purely into agriculture and other little stuff. Before I ventured into the agricultural part, I knew it was risky for me to even think about it considering the money involved and the season I chose to start. My chances of losing money that period were very high compared to making profit, but I was determined to start in order to get background, and I already have that now, for which I can boast of the humble starting. But the risk was not inspired by gambling at all; it's just something you need to do if you are thoroughly going to start up something.

A gambler who was able to succeed in business has got to be a responsible one. All gamblers take risks, yes, but not all of them take calculated ones. Some of them just take risks foolishly without thinking about the repercussions of their own decisions.

Some gamblers who are addicted in gambling may also cause harm to the business as I have seen cases where the gambler takes the money from the business to use it for gambling.

So for a gambler to be a successful businessman, he has to practice responsible gambling and business practices.

I am not a risk taker while gambling because I use small amount of money that I can afford to lose to gamble, this is different from business because I can invest an enormous amount on a business if I see it as a means to make high amount of money in income. My experience in gambling does not have anything to do with my business.

If you're a gambler at heart, then sooner or later your business will go down the drain. And the higher the risk, the faster it will happen. Risk in business, as in gambling, is acceptable only if you follow risk management.

Luck based game cannot be compared to real life business, just like you said it's a calculated risk, in gambling it's not calculated, it's just luck you are either lucky or not.
The experience in gambling can only help you in taking actions and decision making and nothing else.

Experience in gambling cannot be effective in business because all the things we see in gambling doesn't relate to how a business should be managed because is not a gambling but investment, the kind of risk gamblers are taking is something that can be highly destructive in business because there ethics is risking high for a bigger bag and when is done on a business it eradicate every little chances the business had in making a stand, so actually a business should be done my removing any gambling ideas so that you will be contempt with the gradual success.

I know from a fact there are successful business owners who have gambling as their hobby or pastime, but I don't know if gamblers who are dedicate to it as a passion could easily become successful business people.
I believe it is rather a matter about equilibrium, one in life is supposed to have enough guts and dare to take calculated risks in order to profit our of opportunities, since if one does not take any risk, one will get stuck to where one is and there would not be further process to what we want. On the other hand, taking unnecessary risks never ends up well for gamblers or business people.

Either way, one needs to be comfortable with the  chance of losing money to be a good at earning money through investments of any kind.

They are entirely two different things.

To succeed in business we need skills, knowledge, right kind of employees and better products.

To succeed in gambling, all you need is luck. :)

The only resemblance is the money management but I am not sure how many gamblers are giving priority to their bankroll management and when we call them risk-takers all they do is just clicking their buttons. :D

I am not speaking low of any gambler but I can't scale them into one metric.

No business is safe without the risk of loss, but I never thought this could be compared to how one takes risks in gambling. A business is built on an idea, a plan, or a suitable target market, while a gambler takes risks in the hope of winning. While gambling doesn't require extensive risk-taking, some games require analysis or skill, I believe business is very different.

Gambling risk is a kind of temptation and business risk is laborious. You have to look at the two things differently. When you are taking risks and spending money in gambling, there is only the possibility of losing your money. Even in gambling, you cannot gain anything from what you lose. In business risk, you have to work hard as well as money and you will survive in this risk not on luck, but on hard work and strategy. As a result of business risk, you will not lose your entire money and even if you face losses, you will be able to gain much more skills and the ability to get back up. This does not happen in gambling.

Another thing to note is that professional gamblers are afraid of working hard. So there is no relationship between gambling risk and business risk. For both types of people.

I’m not actually a business owner, but I’ve known a person who is certainly a gambler, and gained advantage over his gambling experiences and turn them into his strengths and skills that later on pave way for a successful business career. Yes, he is quite fearless, and being a high-risk taker brought him to where he is right now.

However, I don’t mean to say this is generally good for every gambler out there but having a business requires a serious approach. So if you’re gambling irresponsibly, success will be far-fetched whether you’re in a business or investment. But if you know how to navigate the risks in gambling, and use that advantage to create reliable decisions when you’re in a business, rest assured your business will success and prosper later on.

I don't think good bankroll management in gambling offers any advantage over running a real-world business. This is because, in the case of gambling, the person simply bets an amount they can afford to lose and is well aware that they will lose that money sooner or later. No matter what happens, the odds are stacked against them, so they just need to accept the loss early and have fun playing.

Now, in the case of a business, the pressure starts early. The money invested to start the business can't be afforded to lose. The person needs to make a profit; it's not an amount they can afford to lose. That's why you need to do a lot of market research, manage your money well, and avoid taking risks. You shouldn't use the same mindset you would if you were playing at a casino.

Probably, some individuals learn from their gambling experience. I believe that because they manage to take risks with gambling, they could also be effective at running a business. Well, I believe so, but it doesn't mean all those who tried become successful. This doesn't just talk about taking risks, but it is more about managing the business. Our experience could help, but still, there are a lot of things that we need to learn to succeed.

Congrats to those who have changed their life from being a gambler to an entrepreneur. It is better to be like this than to go from being an entrepreneur to a gambler.

Imo, both are different. Although both involve taking risks, they’re still not the same. In business, you’re cautious with every move, you weigh the pros and cons before making a decision, you're more hands on, and everything is calculated. In gambling? Nah. If you can’t control your emotions, you’ll end up drowning for real. Getting out of addiction isn’t a simple matter either. While both are risky, business feels like an investment where you pour your passion and heart into it. Gambling on the other hand is more of a habit.

IMO, the risk in gambling is entirely different from the risk in business.
Gambling relies solely on luck, while business requires a solid plan.  You can't claim success in business simply because you are a risk-taker, such as opening a fast food chain in the middle of a forest without a marketing strategy.
Business risks can be managed, unlike gambling, which typically involves fixed odds.

However, despite the risks associated with gambling that we have encountered, we have the courage in business to confront potential risks.  
That's the advantage of a gambler becoming a businessman.

OP, I don't think business and gambling goes hand in hand. Gambling doesn't give one the business spirit but the truth is that if as a gambler  you don't put your gambling urge under control, your business could be heading for a doom because it is believed that gamblers who are addicted could wreck their business as a result of their addiction. There have been lots of cases of businesses shoting down as a result of the owners addiction and carelessness. It is not possible to be an addicted gambler and also run a successful business at the same time.

Well, entering a business is like gambling on your hard-earned money. You risk something that you can’t afford to lose without future guarantees if your business will succeed or not.

Now the question is if being a gambler makes you a good business owner? For me, if you’re a risk-taker and you’re actually good on your chosen field of business, the rate of success is undeniably high. However, if you gamble without caution, and you apply it in your business, it won’t be surprising then why you lost your business in the long run.

I am not a successful business owner, but I could say that I have been taking higher risks ever since I started gambling. Not jumping the gun, but most of the time taking that big step to improve my financial needs in the future.

But still, it should not mean to always be a good thing being a gambler and a risk taker. We should still do our homework whenever we like to take a risk on something else, and that means taking it deep so that we won't waste our money. I think what I have learned most in gambling is being protective of the money. When I win, I kind of want to stop and call it a day, not forcing another win.

I don't know, but this made me smile. The typical advice I heard was 'avoid gambling if you're doing business'. Soon, you'll take money intended for your business for that vice. Gambling will eventually consume you and your business.

Gambling isn't calculated risk. Gambling is merely risking. The result is random, albeit lopsided in favor of the casino. That's probably not the kind of risk that's associated with business.

In fairness, there are also businessmen gamblers, but as far as I know, nobody in the top 10 richest people in my country are gamblers. Why gamble when you don't even have the luxury of time to take a look at every detail of your business operations?

Risk grows, what i mean is that once a person start taking risk no matter how small, he will get used to taking risk without fear of any kind, this is why we have to agree that as a gambler who is already used to taking risks no matter how unpredictable the game could be, such a person will never have issues taking business risks aince he is already use to that.

I have noticed recently, that my boldness in taking risks have increased and as a matter of fact i am doing greatly well with that.

if you ask me, I will Surely say that gambling risk is different from business risk. We all knows that gambling risk is a kind of risk that can not be calculated, but business risk is a calculated risk, because it involves risk of using a huge amount of money, probably your life saving money. Which if you do business with it without taking proper care, instead seeing it as a Gambling money, you may never do well because your mindset is still tied to Gambling.

Gambling expirence can only make you Bear the risk of lose and never felt as if you had a loss because you often lose in Gambling. But if that continues without making amends and seeing it as a normal thing then you may shutdown your business one day.

You may not expect a direct answer from those businessman because most of them have not had a satisfactory experience. It may be analyzed differently if we consider some of the gamblers who have won the jackpot or some gamblers may be happy with their luck in winning.
In my experience, I do not know of any successful businessman or they have been successful in gambling for a long time. But there are successful business owners among them who are involved in alternative sources of income and consider gambling as entertainment.

Every time I see an interview with CEOs and huge entrepreneur that are worth hundreds of millions and billions, they all say that taking risks is one of the most important things. And that this is what they would say to someone starting today. So I have to agree with you here.

But just blindly taking risks isn't enough to be successful. Many people failed to get there because they went all in on a broken company that was doomed from the start. The same can be said about gamblers that just go doubling their stake when they lose, until they go bust.

He said that being a gambler could help you succeed, not an addicted gambler.

Gambling is all about knowing that you are risking your money but for a chance to get paid big. Most people that start today on a new venture needs to gamble and risk their money, and since it can be very risky, many of them don't even try.

I have done several businesses for which there are chances of me losing money but I did them anyway because I have been hardened by gambling. You can't be a gambler and still fear to take risk, something you do everyday. I have a simple mindset "if the reward is greater than the risk and the risk is something you can bear, do it". I have thought about most business owners today, they started from uncertainties, some failed many times but they were focused on and motivated by the reward, therefore risk is part of life.

I remember there's a story about a big company founder I saw before:
The FedEx Founder Bet His Last $5,000 In A Vegas Gamble And Saved The Company – 'Sometimes It Pays To Be A Little Crazy Early In Your Career (https://finance.yahoo.com/news/fedex-founder-bet-last-5-154541309.html)

This is the FedEx company founder, and we all know how big this company is. At first, when I saw this, I thought it was just a joke or a made-up story. I'm curious what will happen if he lost that $5,000.

They are not the same mate, yes you take risk in your business but you have still total control of it. Which items to buy from your supplier because it is what your customers wanted and so you can adjust and mitigate risk. As compare to gambling wherein once you play, your mindset is that your chances are very slim to make money or even just double your initial capital.

I'm not a business owner, but I will say that business failed for many reasons, like poor marketing, or weak leadership or vision. Like in the case of Kodak, they were not able to adapt to the changing environment, or like Blackberry.

Experience in gambling can not be applied in business because that is two different things. You may succeed in business but you may not succeed in gambling.

A gambler may take the risk but many of them forget to limit the risk so which causes them to lose all of their money. But in business, the owner needs to calculate the risk and always monitor the progress. If they think that something bad may happen, they can modify their plan and prevent the risk from becoming big.

Your experience in gambling can not always be used in business. You should understand this so when you want to create a business, you should check all things and not just gamble with your destiny.

Forget all those gammer about calculated risks, you can't compare running a legit business with gambling, they both have their risks but business will give you rest of mind because what could possibly go wrong here?..

1. You don't sell as you should? Limited customers? But you still have the business right? So some day you can find a solution or maybe changing of location can help too or apply extra effort for advertisements.

2. Possible natural disasters like fire? You are not alone atleast, there are people closer to where you business is located, something good might still happen, you can be called and somethings can still be saved.

Gambling is completely different, it has only one risk and that one risk is enough to ruin you, not even slowly but in a very short period of time and it's all over, this one risk will have bigger damages than if you are running a business, your mental and physical health are not safe either.

It's easier and faster to lose everything in gambling.

If that were the case, you'd find that many entrepreneurs are gamblers, but that's not true. While there are similarities between entrepreneurs and gamblers in terms of risk-taking, there's a fundamental difference in how they make decisions. Gamblers take risks based on luck or the desire to win. Businesspeople, on the other hand, take risks based on in-depth analysis of the business they want to run, not just luck. So, the two are different and cannot be equated. Therefore, a gambler isn't necessarily capable of taking risks in business, because they aren't built for it.

People who have been successful in business are unlikely to fall back into gambling, the lessons of their past serve as valuable lessons. They know that gambling will not change their lives or lead to success instead, they will remain trapped by the system created by the bookies. While the results are similar to gambling, full of uncertainty and risk, it's important to understand that in business, you have complete control.

Hmm.

Somewhat I agree, somewhat not.

I don't agree if you treat gambling is same to business, it's like you want to make money through gambling.

But, I agree if being a gambler might could make your business successful, it's because gambler won't mind to lose money and this kind people usually royal with other people. Business isn't one man show, hence it need helps from other people, gambling is one of them. Many rich people and businessmen are gamblers, that's why being a gambler could affect the success probability in business.

I honestly think it's quite the opposite. Gambling is an addiction. Would a heroin or pot addicted person be good at running a business? Quite the opposite. They'd think that every amount of cash they can get can contribute to the habit instead of expanding the business.

In terms of getting back from addiction and recovering, some recovered people are very resilient and can handle stress better. But this is the exception other than the rule. So I really don't think we should promote the idea that gambling while a business owner is a good thing.

Actually as a business owner or manager you have  large responsibilities and maybe you can't even overcome them if you're deep into a vice like gambling. Always do it with moderation or don't do it at all.

I don't think there is any positive aspect of gambling that will directly help me become a better businessman. But if I think positively, the risks we take in gambling give us experience in taking risks in business. A gambler can accept losses and if they apply that experience in their business, they can do well. In gambling gamblers have to make quick decisions and sometimes this quality applies to business as well.

Being willing to take risks can definitely pay off in life. Whether that be risking embarrassment by asking out a girl that is way too hot for you, or risking your money on a crazy business venture. Sure, things can always go bad, but they can also go very well. In business this could mean a successful promotion or wild investment. The saying that comes to mind is, scared money don’t make none.

The kind of risk that associated with gambling is not same that's associated with running a business and the expectation of both differs to a large degree. As a gambler, the only thing you do is to run your prediction, use a certain amount for that purpose and then sit back and wait for the outcome. That's not same with running a business. If you're running a business, you likely must have spent for the goods, for transportation and for a lot of other logistics. You're going to first of all aim at getting your capital back, do proper planning on how to keep the business running for the long term and that will go with a lot of planning that's not applicable to gambling. The obvious difference between gambling risk and business risk is that business risk is always well calculated and managed such that loss is reduced to a point where it is completely avoided.

Well said. Business is built on risk, but it should not play the game of "either luck or failure." Anyone with such a mindset will always be considered a loser. Gambling can be a start if someone in their right mind can use their big win to start a business, but further continuation should not go along with gambling, as it is very irresponsible. Risk should always be justified and thoroughly considered in all situations. Normal behavior, like in gambling, hoping for luck, does not work in business.

It really depends on the type of gambling you’re into. If you’re doing sports betting, it’s more like reading stats, analyzing trends, and coming up with a strategy, it’s somewhat similar to going through a company’s financial statements and performance before making a business move. That’s probably the closest positive connection I can see. But if you’re talking about pure luck-based games, there’s not much to analyze, you just leave it to chance, and no amount of stats will change that.

With what you said, this exactly happened to my friend who was someone who owned a business in the electronics sector, but his business went bankrupt because he became addicted to gambling. I saw his family disappointed with him because he lost his business without any clarity because maybe his family didn't know that he went bankrupt because of his gambling addiction. This case has been going on for quite a while and currently what is happening is with my friend who owns a restaurant business in front of my house, he is currently enjoying gambling, this is proven by him gambling every day and he always asks me to borrow the balance every night, sometimes his restaurant is closed, also when I hang out at his place some people come to collect the loan he made, what I fear is that his business will also go bankrupt. Actually, I have reminded him not to overdo it in gambling and take the example of my friend whose electronics business went bankrupt, but yes, because he is currently enjoying gambling so he doesn't really care.

I am not a successful business owner yet and I am just a slight gambler, but for me maybe gambling and business is like an Identical twin, almost the same in looks but has different characters or personality. They just both require risk taking abilities and how you handle loss, but they are very different in a deeper aspects. Since running a business is a choice and a controlled risk, while gambling is based on chance and luck. Well risk taking is a tool to become successful but at the end of the day it will be based on how you will control yourself in handling your business, gambling activities and how you will apply your skills to become successful.  

Gambling can help you succeed in business if you're a responsible gambler, you don't expect an addicted gambler to be successful in business. Although gambling risk is different from business risks, what they both have in common is risk in general term. Gambling risk is about taking chances and mainly depending on luck to succeed or win while business risk if well planned is certain to give you profit. If you take calculated risks in business you will be sure of making profit but there's no calculated risks that can guarantee wins. In gambling you can only minimize your risks by using small amounts to gamble, that is only where you have a total control.

Being a gambler does not automatically guarantee a successful business in the process.

For sure, having the attitude of being a "risk-taker" is one of the factors that can make a business successful. But you also need to know that there are various components that make a successful business, which is outside the sphere of gambling.


You make a valid point here.

While I do agree that some elements of gambling can have an effect of being successful in business, I do submit that there are also other factors that still need to be determined and considered. Even if a person has all the necessary qualities of being an excellent businessman, there are just some factors that are outside of our control.

Being a gambler has some business benefits that not many people who started off a business would easily have. A gambler is someone who believes in taking risks and has been through several risks and losses and also wins. When starting a new business, someone needs to understand that you have to take chances and risk so many times. Most businesses today are stunted because the owners refused to take some calculated risk at some point. A gambler believes that he either wins or loose and has no time to waste to invest in whatever business opportunity he feels is promising.

But Gambling alone does not guarantee business success as a person also needs to understand the business he is about to start or is doing, the seasons and the rules. He has to understand customer cares and customer which would also help to sustain his business.

A gambler also knows how to diversify his resources simultaneously to make a cumulative gain.

If you enter into any business with gambling mindset, you'll regret it sooner than expected. Of course, there is risk involved in both but they're actually not the same class of risk. You gamble for a short time and of course with insignificant amount but business is never like that. You plan business with the hope of sustaining it for a long time and invest a reasonable amount if there's a means. Hence, you don't approach business with same mindset you approach gambling with. The only calculated risk you can take in gambling is using the amount you can afford to lose but you need a proper planning to execute a business and you don't just take decisions based on luck as if you're placing a bet.

So here we are discussing basically the risk factor in gambling and that of business, right?
Cool! What I understand in-between are different risks which that of business is factorized on making profits which is worth investing even with what we can not afford to loose because in business, you have to meet up with the financial obligations regardless of the nature of the business which means even if we can not provide the capital, we can appeal for loans and with a very good industrialization and good management, we can be able to exploit successfully in the long run.
The risk there is the capital which as a business person have to put in consideration in case of lose.

In gambling, is the similar risk worth taking? I guess not because gambling is literally associated with entertainment and a 100% uncertainty which you basically have to rely on luck to be successful and your duration of success might not really last for the long term like that of business. So to me, there is a breach in-between to say the risks in gambling can be applicable in business.

Maybe learning how to gamble gives you a bit of an edge in running a business, but you don’t need to be a gambler to succeed. What you really need is the willingness to take risks, which is something gamblers naturally have. The difference is, in business, you can’t rely on luck, it has to be based on strategy, planning, and making calculated moves, otherwise, it’s no different from blind betting.

As is often the case in these threads, the OP has considered “gambling” as a whole, without distinguishing between casino games and skill games. What you say is very true when it comes to skill games and the small percentage of people who make money from them in the long run. I don't see how playing roulette can help you in business, but I do see parallels between successful sports bettors or poker players and business. In fact, many start businesses after achieving success in these disciplines.

We all learn as we live... we learn by watching others, and even more so when we try to do something ourselves. It's the same with gambling... when you gamble you learn a thing or two, something good & bad. How you apply that knowledge later is another matter, mostly at a given moment decisions are made based on all the important factors and everything you have learned up to that point. And there's always something we don't know, something new to learn...

We are all gamblers... we gamble every day. This is because most people want "more"... and to get to "more" we have to sacrifice ourselves in many ways, to invest ourselves and what we have in order to achieve our desires.

There is a famous story how FedEx owner took last money of a company, went gambling, won and saved company from bankruptcy. You can read about it here (https://www.foxbusiness.com/money/fred-smith-fedex-blackjack-winning-formula) and we had topic here (https://bitcointalk.org/index.php?topic=5503776.0).

But I dont think that gambling actually help to run a business. If employer loves to gamble, that might be stressful for employees. Nobody knows what will do with their salaries company owner next month :D Even if he take a risk and win, he wont share :D Imho it should be opposite, that a successful business can allow its owner to gamble, than gambling would make business successful. Gambling and business dont share same risk. One risk can be predicted, calculated, other is unpredictable and random.

True. Especially if you are not a degenerate gambler but a guy who plays to have fun. It will boost your morale, make you feel good and then you’ll be more productive as a result. You’ll make less wrong decisions because you won’t feel stressed.

You’ll also have a better understanding of mathematics and you can’t be a good business owner unless you are good at math. You’ll understand probability calculations better and that’s essential when running a business.

Businessmen are essentially the same gamblers, they just bet not on the game but on their projects. And depending on how well they analyzed their bet, their profit depends, whether they took into account all the possible risks. The only thing, of course, is that not every player can be a businessman, in addition to analysis, strong-willed character traits and skills for running a business are also necessary, in order to run a successful business, more effort is required to make the “bet play out.”

No. I do not think being a gambler could actually help one succeed in running a business. It could give one the urge and balls for taking risks but it can't really help you have and manage a successful business.There are worlds apart.
In gambling, nothing is guaranteed as you rightly stated. But with calculated plans for risk taking, one could make a profit or have minimal losses and not having the business thats struggling to thrive go under.

Not every gambler is smart with how he spends his money gambling. Being a gambler doesn't just give you the know-how on how to make critical decisions in the management of a business.

If you know the true to life story of FEDEX where the last money of its owner was 5000$ he decided to try gambling thinking that it might save his company business from 5000$ he was able
to grow it by more than 5000$.

And because of this he was able to turn it into 27000$ and according to this link source he used the money he won in gambling to save his fedex business,
though in my personal gambling I have not experienced this.

Source: https://www.foxbusiness.com/money/fred-smith-fedex-blackjack-winning-formula

Is not all gamblers, in this perspective is only gamblers that play by the rules can run a successful business. Those that bet responsibly, can take their business serious. Business is all about financial management and investment, if you can not manage your finance as an individual you can't manage any successful business. As a gambler, if you have master the act to stop when you are losing, then you can ascertain when client is not longer having trust in your services. In Business your client satisfaction comes first, when you notice any negative reaction or feedback, work on them immediately. Same thing for gamblers, once you are not making profit , you have to stop immediately and think of another option or take a break.

I heard people saying they  can not hire a gambler as a manager, because they will gamble with company funds. Its true many gamblers doesn't have financial control, they stake with any funds available. But a Responsible gambler will always keep a spare cash for gambling and will never gamble with public funds.

Having gambling experience only teaches a new entrepreneur some lessons in starting a business. Gambling only depends on luck for you to win while having a business require many things to become successful.

Your success depends on your understanding how to operate. Losses in gambling can't be avoided while in having a business, you can reduce it greatly if you know how to run it well.

I partly agree on this since most of the successful businessman take risk before they succeed so having a guts on taking a risk will help you to succeed.

However, it’s not totally reliant on your willingness to risk is what makes businessman successful rather through their management and creativity skills with their service and product.

If you have no marketable service/product I think you will just lose a lot by taking a lot of risk.

There is only a relationship between gambling and betting in terms of risk. Risks are taken in both places. The issue of risk in business is a little different. If a gambler takes a risk in gambling, he will either win or lose, but if he takes a risk in business, he will not lose everything in a short time. There are many who are interested in doing business but they cannot take risks. A gambler has no problem taking risks. He will be able to take high risks in business even if he wants to. But to run a business, an entrepreneur needs to possess various qualities.

My gambling experience has never been of help to me in any way as regards to my business or job. That someone takes risk as a gambler doesn't mean that he can take good risk during business management or investment, there's always a big gap between someone that really knows what he or she is doing and someone that is using just ideas from other things to work with it in their business. To run a business successfully, you must have the knowledge of that business because there are certain risk you will take and it wi greatly affect your business but might not affect you in gambling.

I am not a businessman or do not have a personal business in any field but yes I also agree that there are similarities between business and gambling especially in terms of courage to take risks, but of course it is not completely the same, in gambling when you take risks then all the results will depend on luck while in business the risk taking is usually done based on something that has been measured beforehand, or it can be said that risk taking in business is structured, the possibility of loss does exist but usually not up to 100% like in gambling because you already know where the goal is going.

You mean a gambler then opens a business and success, if that's what you mean I have not found someone like that, instead I see the destruction for them business and gambling two things that make them messy.

But if they used to be gamblers and won the jackpot stop gambling and started a business, yes people like that exist, but they really stop gambling and focus on business, of course people like that can be successful but without gambling.

For that, as you say gambling games do not know to win and lose, while business is clear what we are trying, so many cases of business people are successful without gambling.

We cannot conclude that a gambler could help succeed in running a business. If we take this fact into account, some businessmen will start to gamble just to gain experience and learn how to run a business. Running a business involves calculated risks, unlike gambling, where profits are not guaranteed.

If you want to run a successful business, then take a course on business administration or commerce; gambling has nothing to do with running a business, and these are two different things.

Some businessman can gamble with their business especially if they have two options they need to do something. If they choose A, they will get A risk. That will be the same as if they choose B. They are gambling with that but they don't know what can happen if they choose one of those.

If a gambler stops gambling and creates their own business, they may difficult to prevent the risk. They will just think about how to profit more. But if they are wise gamblers, they will be careful running their business.

Being a risk taker and the experiences as gambler really help to try other opportunities despite the result is not guaranteed. I own a business for years already and it's still running smoothly. Building a business is not easy and it requires knowledge. If you want to succeed, you need to exert an effort.

Just like the saying goes "no pain, no gain" you'll never know the result unless you try. However, it's crucial to have plan because even there's a similarity in gambling, the result depends on how prepared you are since it's not solely relying on luck.

Earlier we think repercussions of this the better for us.
If a business person applies gambling risks to his business, he'll definitely go bankrupt and when a gambler applies the risk of business in gambling, he will also go bankrupt and if this doesn't happen in the short term it wouldn't pass in the long rune. It all just going to depend how much involved in the budget because it'd look ideally that they're treating gambling for source of income and as well treating business for gambling.
In the end, when emotions is attached to gambling or tolerance as a form of entertainment is being treated in business will at the end result to a doom. So I don't think that character of risks in gambling can help build success in business.

What I see right now is lots of success people is taking a big risk with money involved too, so no wonder we can equate these two things in term of risk. Altough taking bold risks can open the door to big opportunities, it still takes skill, strategy, and determination to overcome the challenges that come with running a business.

Business is business and gambling is gambling. In life we must take risk in order to achieve our goal or to become successful in whatever we are doing. On the other hand, the risk in gambling is not important and has nothing to do with you hitting the jackpot. A lot of gamblers are greedy and take foolish risk. In business, if you try that, your business will fail.

This is the way that gamblers choose to think. Making a business choice isn't solely based on luck, like gambling. Everyone who wants to make a business, searches all the aspects of it, makes economic plans, and tries to cover everything. Sure, at the end, some dose of luck is needed, but it isn't close to the percentage of luck that will be needed in gambling. Not to mention that all our choices in life involve a risk, but that doesn't make us all gamblers.

Gambling and running a business does not relate in anyway. In gambling, it is purely luck and you put very little or no effort in influencing your chances of winning. Running a business requires adequate planning and skills to influence customers to patronize the business. One can study his environment to know what business to venture into. He also has to time the market to know if it's the right time. In addition he needs to do some promotions, advertising and even discount sales to attract customers.

If we are going to compare a gambler to a business owner, then I would say a business owner who also has the attributes of a gambler doesn't do any of those plannings and due diligence checks. He just starts up a business at any location of his choice and expects luck to shine on his business so he would make profits. Some business owners do this and that's why they fail.

In a nutshell, being a high risk taker does not warrant any person to gamble with his business capital. Successful businesses grow because of proper planning.

You made mention of calculated risk so do you think gamblers falls to that category, in the aspect of risk taking, fine some gamblers are risk taker  but not all, although you can a gambler that gambles with what he or she can afford to lose a calculative risk take that's fine but you will agree with me that not all gamblers have the mindset of gambling with what the can afford to lose, I will want you to understand that gambling risk is totally different from business risk, am very much aware that you know that gambling is totally different from business, so is the risk taking between the two different, I have involved in some business, I take my risk differently in business although I don't even take risk in gambling

I do own a buisiness, and i can tell you that it is good now and successful. small but with good customers who actually repeaters and do order 2-3 x a week.
I just gamble it, My 50USD at start to start a business in less than a month when pandemic started, it turns oput really good as ater 2 weeks sold daily and the sales was 1000-1500 USD per day at week end and can go up to 3000 USD at weekends. But since the pandemic were gone my sales now is at 400-600 daily and 600-1000 at weekend.

it as from scratch and gamble everything, I WON! i can tell that everyday SUPER BIG WIN on my hands!

Not just a regular gambler but a gambler that doesn't take reckless risks. You need to understand that business is all about making strategic planning and if you are not calculative you your investments might end up becoming a loss if you don't make proper plans. But a business owner still needs to have some attributes of a gambler like being brave enough to take risks and also being patient when things don't go according to plan

This could be true because it takes someone that's a risk taker to be able to start up and run a business but at the same time having the mindset of a gambler can ruin a business if you are not careful...But if you are the type of gambler that able to take calculated and follow the principle of risk management then when it comes to running a business you would be able to make some progress because you are disciplined

He said gamblers are talking big risk and which is not true. Any person that take a big risk in gambling will later regret because the person will lose huge amount of money. Good gamblers are gambling responsibly. To gamble responsibly, you have to use small amount of money to gamble, an amount of money that you can afford to lose.

I am almost sure that gambling can help a player if he has a business, better assess the risks, but this should only be for a player who knows when to stop and never overdoes it with the game. There are also all sorts of risks that a player can be so worried about losing that he starts to win back and eventually lose his business and thus destroy it. Unfortunately, such stories definitely happened, and even if a player can restore a new business, it is not a fact that this path will not be repeated again.

There may be clever people that start businesses and like to gamble occasionally, but I don't see much correlation between the two. Looking at it the opposite way - I've seen many gamblers who are absolutely terrible with math and numbers which are essential to run a good business. Most people who enter business are interested in making a guaranteed path to money, or at least that is the plan that they have at the outset and they are likely to know how stacked casinos are against them, so it's probably something they tend to avoid until they have a nice cash flow coming in. Comparing the mindset of a gambler to that of a business owner is a little bit insulting really as the two are almost opposites in many other ways.

That's really the traditional way to do it, but for others who are not capable of studying a college course, they will try gambling with the mindset that they can think that if they hit the jackpot, they will build a business to start life.

There is a story like this that after winning a large amount of money in gambling, they built businesses, real estate, and apartments that produced money for them,
then they stopped gambling, as if the winning in gambling was just a way because the bettor got lucky.

Short answer is. NO.

Even if some soft skills that you can understand with gambling could somewhat helps in real life (including business)...
This not means that with gambling you can acquire such "abilities". I noticed on my self...
- quick mental count and operations (including percentage etc etc).
- faster evaluation of probability of an outcome based on the time
- being able to summarize data
- being able to dig news
- relatively good to cope with stress
- mcu more ability to manage multiple tasks

Yeap!!!


The skills acquired through gambling can indeed become a great ally in learning risk management and business management.

I like to use Haralabos "Bob" Voulgaris as an example.... he was influenced by his father, who lost a huge fortune in casinos. He then spent a long time in Las Vegas learning how sportsbooks work and learn a lot about math and statistic...  until in early 2000, he bet his entire $70,000 on the Lakes as NBA champions and earneds almost $500,000.


Later, he teamed up with another very smart person with calculations and launched the Ewing model.... they bet more than $1,000 a day and were very successful.


For a while, he worked in the corporate world of the NBA, with the Dallas Mavericks... but after one conflict and another, he ended up leaving until finally, in 2022, he acquired Club Deportivo Castellón in Spain.


So you see... it's an example of someone who was inspired by someone who wasn't lucky, but who thought differently... used the numbers to his advantage, studied them and knew how to build a career.

Gambling calls for placing a bet on random events which have a negative expected value and where the results of the event are determined solely by chance; the odds are put up against us. If you talk about business then the risks normally consist of difficulties such as uncertainty within the market, rivalry, supply chain issues, legal complications, and operations. You know such difficulties could be run and solved by employing organisational planning and various ways like diversifying our resources, risk management, and insurance. Another thing is in gambling, you may lose all bets, right? But calculated business risk is purposeful, thoughtful, and should be expected to yield longterm investment returns.

The beauty in gambling is about what people do and how they were able to reason along being a gambler, apply the necessary focus and logical reasoning toward having more fun in gambling, than when we choose not to learn from what we should do right and apply same to other areas of our life, if we can be good in our gambling habits with everything done in moderacy, then we should be able to use the same ideas and initiative to run a successful business.

A gambler and a business man thinks differently, a gambler thinks about only making money for present needs but someone that's business oriented thinks about the future because he's more of an investor. Someone that's a gambler might end up ruining a business if he continues to think like a gambler. Running a business takes a lot of self control, sacrifices and discipline, this is something majority of gamblers don't have

I can't described if I am a successful one but having some business on a side is hectic and being in gambling as well, I think that taking risk became easy and essential. That's one of the characters that me as a gambler have adopted. Other than that, maybe also managing in finances but I don't know if that will work for the majority of the gamblers because as we know, not everyone is good in handling their finances and can't even follow the actual budget for the bankroll that they have assigned for.

The risk involved in both sides could be  kinda different, still there are dumb risk h generally for both sides..
The difference is just that risk taking in business is normally tied to plan or strategy that could eventually work out and succeed..
Besides all hope of risk taking in business is always expected to yield a possible profit or return , which is somehow different from  risk taking in gambling as it mostly based on chance, return aren’t usually expected like that of business..they are subject to luck rather than strategy so there’re lots of difference when considering risk on both sides .

The money used in starting a business, at all times is bigger that the money used for gambling. However, high roller gamblers are exceptional, since they gamble with very huge amount. That being said, both of them involve taking risk one way or another. Gambling is based on luck and opportunity. While business, on the other hand, requires more. It involves proper planning, research, suitable environment, and decision making. So yeah, in as much as having emotional control is important in both gambling and business, if other factors are no associated to them, they won’t get you far.

What type of gambler you are also will determine if you will be successful at running a business. There are gamblers without discipline and if they carry that attitude into any business they will just be taking crazy risk without having any reasonable disciple to handle their business.
Running a business has nothing to do with you being a gambler, gambling does make you who you are because you are what you make your gambling activities to be.

Honestly speaking, am not the type of gamblers that normally take risk to become rich quick through gambling. Because I normally gamble fun and entertainment with only the amount that I can easily afford to lose because it is always a base luck game.

Obviously business is quite sating, so it is wot taking a big risk to achieve success in the future. However, is pretty obvious that gambling risk are not guarantee, while business risk is guaranteed to get you something at the end of the day. So both are quite different in times of risks taking.

You have to be very careful of the type of business you are doing before you can approach it the way you approach gambling. If your business is capital intensive like export and import or any other business that require huge capital, just remove gambling mindset from the equation because you cannot do such business with what you can afford to lose unlike gambling that you do with what you can afford to lose.  It is not wise to approach business with gambling mindset because of what you stand to lose should anything go wrong.

I wouldn't compare business with gambling; they're completely different things. Although both involve making decisions that involve risk. In business, you have a high percentage of things turning out well if you know and study what you're doing well. With gambling, however, the odds decrease drastically, and there's a higher percentage of luck.

My advice is to view gambling as a way to have fun, not as a source of income. You'll enjoy it more when you win or lose. Business decisions should be evaluated very differently than choosing a bet.

Similar thread has been discussed here in this gambling board before if am not mistaken and honestly I don't think life happens in the such manner, although people tend to actually show the kind of person they are doing one thing or the other but this works differently in different persons someone can be well disciplined in his or her business and of course doing very well but whenever they get to gambling they lost that charisma of obtaining that discipline where they can even run at lost without control and still went back to their business rightfully.

Gambling and business aren't same thing, and the risks surely differs as well. I don't even see gambling as a risk because you are staking with an amount you can afford to lose such that if you actually end up losing the money it won't bother you like someone who established a business after making some calculated risks of how to run the business and make some profits but end up running into losses. If a business is not going well, the owner will surely become emotional especially if he depends on that business for daily needs. A business is being started with a capital which the owner does not intend to lose his capital unlike gambling that we play with an amount we can do away with. A business is profit guaranteed and the risks is minimal depending on the kind of business you are doing.

Gambling will definitely harden you up to failures and financial loss. Although I am not 100% sure that is a good thing or not. I also think experienced gamblers also will be less likely to miss hard to see risks or make emotional decisions in the heat of the moment. Especially when talking with investors who count on newbie business owners making emotional mistakes in order to exploit their insecurity and inexperience.

But it really depends on the person. A gambling addict who loses all his money and does not have any kind of self-control or self-discipline will not become a good business owner. They will probably fail the business.

Taking risk in gambling isn't an option for me to do at all as I see a major loss in money doing that, and I wouldn't advise anyone to take risk in gambling or take risk in business they had no idea about. I've seen many investors spending lot of money in business that failed after some months because they do not know how the business works or understand it properly.

If gambling can't be illustrate as a source of income, why will gambling fuels your success in gambling. I will just assume/imagine that the Op is speaking in an ironic way. If a businessman is a gambler it can cause the downfall of the business, and the surviving chance of the business will be  very low.

When a business is collide with gambling, the businessman will have the opportunity to use the profits to gamble, which may not end well if care is not taken, seriously. Most especially if the person is a irresponsible gambler. How will this kind of attitude bring any growth and development to the business.

There are some unseen advantages as much h as disadvantages of gambling to an individual and for that we have to come to a point where we can point to one aspect that gambling have actually helped us to scale through to success within the Time we have being gambling, no doubt the individual habits plays a significant role, but not as much as it can be for measuring the depth of risks taking that a gambler have build over the years.

Having gambling approach on running up a business is a NO-go for me. Lets say that you are a gambler and having those kind of gambler approach and applying out to business, yes some of those behavior or qualities might that beneficial but because you've been that a risks taker and you've been having that kind of experience then you do know on how to balance things. Whats the only issue on here is that whenever you dont able to hit up your expectations or numbers then this is where that kind of decision making that might happen on which it will be that showing up that real gambler kind of approach towards the business on which it will be that not recommended or suggested. If you are a businessman, then as much as possible on which you would be needing to avoid on having that gambler like mind kind of approach. Why? You will be that most likely be having that trying out to gamble or making up some excessive decisions just like when you are gambling on which this isnt that good if we do speak about on handling up a business or investment. It might be same as to have some risk but the level of it wont be just that similar. This is why its not recommended that you would be that making yourself having that kind of approach towards it.

I think it depends on a person's nature more than what they do in this case. Someone with a patient and disciplined nature will be a responsible gambler and the same thing will be seen when he runs a business, whereas someone with a hasty and impatient nature will be a bad gambler, who will always spend more money than they should on their gambling activities and will be taking unnecessary risks, and if such a person runs a business, he would most probably do the same thing with it, no proper calculations, or thinking about the risks or the consequences before doing something, and the business will most probably fall apart before it even fully stands.

So, it's all about how a person generally is, what their mindset is about things that they do, how good they are with managing their finances and how they manage the risks involved in things they do, whether it's gambling or running a business. Someone with no financial management skills can't be expected to run a business successfully because business is all about management.

Do we actually take calculated risk in gambling? Especially casino games? Yes you input the amount you which to risk but your wins are not even guaranteed. I don't see the point of comparing the skills we use in gambling to that of managing a business. They are two different things entirely. As a business owner, you need ever single profits that you can make so that you would be able to sustain your business on a long term. Even the smallest loss would be like an injury on your skin.. gambling on the other hand is all about the loss. You have already decided to take the risk from the start so it doesn't hurt you much.

Maybe if they set some limits and have intended funds to spend by that they can calculate the risk of what they do on gambling. But winning is not guaranteed. I also don't see the point on how it made them a successful running the business while the fact it can ruin what they built especially if they face addiction.

But if they can build a good connection and found reliable people to do this kind of activity while gambling on land base casino then maybe they can find great deal to help their business succeed.

If people just mean that they can learn good discipline in gambling I guess its different path and there's no assurance that it can help them succeed to run a business.

I don't think being a gambler could help someone to succeed as businessman. It's more about the personal characteristics, traits and personality than being a gambler. If you are a responsible, committed and focused individual, you will do well as businessman, while also doing well in gambling, from the responsability point of view.

Even when being a risk taker, it has to be measured and calculated carefully. Risk takers as we see in gambling are likely to do pretty bad in business, because they will act by impulse without thinking logically and rationally. That is a noxious kind of mindset in every aspects of someone's life. Therefore, it must be avoided and worked to be reversed.

We must remember that we are gambling with uncertainty in a casino. In contrast, when running a business, you expect a profit based on a feasibility study and your knowledge of the industry, which eliminates the element of uncertainty.
You can be lucky in gambling, but when it comes to running a business, luck is not a significant factor; your knowledge and expertise are.

Being a gambler helpmed me to land a job in a casino, where salary is higher compared to the rest of the businesses. There was a vacancy of Product Owner in casino and the salary was big, so I applied for this position because of my past experience and after a few interviews, I successfully landed the job but before interviews, they sent me a link of Forms that I had to fill within few minutes and this forms was full of questions about games like Poker, BlackJack, Roulette and others. My experience in these games helped me to successfully fill the forms very quickly and with a good score, I managed to get the next interviews and then landed a job.

Not necessarily. It really depends on the type of gambler you are. For example, if you already have a running business, not yet that successful, but you start becoming a compulsive gambler, there’s a big risk that your business will take the hit because where else will you get the money to fund your gambling addiction, right?

But if you’re a responsible gambler and you already have a business, sometimes gambling just serves as your escape from the stress of running that business. In that case, it might even help you relax a bit. But honestly, that’s rare, because being a gambler doesn’t mean you’ll be a good businessman, and being a businessman doesn’t mean you’ll be a gambler. They don’t really go hand in hand.

I have never seen such before, but I think I have Heard story  about a business man who was trying to grow his business through gambling, and guess what happened....the man gambled with all his savings that is supposed to serve as  backup funds or emergency fund should incase there is any emergency, still it wasn't enough and he decided to gamble from his business Money, according to the story teller that the man lose everything to gamble both his savings and as well his reserve funds or backup funds everything was gone. So this is supposed to serve as a Big note of warning to those guys who are trying to make attempt or trying to double thier capital through gamble, so is better we change our plans and look into something that is a little bit guaranteed.

This is much better, we should avoid connecting ourselves being a gambler and being a businessman. While there are a lot of businessmen that have been involved in gambling and made terrible decisions, it's not the good trait of doing continuously taking risk based from the experience that the gambler has got. And I agree that if we're responsible, we'll be able to grow our business in a way that we've got knowledge of. Not every gambler can do that but it's understandable that some aspects of being a gambler could add to someone's success but not entirely credited to it.

Gambling is very risky and the chance of winning is 50/50 if at all it is even 50/50 because apparently the chance of winning now seems lower, the uncertainty in gambling is too much but people still don't give a fuck because they are so much concern in the profit and despite the uncertainties gambling always have this feeling that they will hit a jackpot one day even though it took them years. Business is somehow different from gambling and the risk involve in gambling is entirely different from that of business and I don't think a gambler can use the energy gambling in business because the energy and vibe are different.

You have said that for real and it's the truth. It takes a lot of control for someone who gambles and at the same time manages a business.
These two won't come together but there are a lot of fomer gamblers that were able to transition in becoming a business minded guy.
But they understand that it is going to ruin their business if they will not sacrifice the other activity which is gambling for their business to thrive.
It takes a lot of guts to do that and as you've said, self control. Because gamblers will always be gamblers and even if they're already in the line of business, some fails due to having of no control and they're able to spend their business funds and profits for gambling unknowingly.

I agree, being organized and have that personal skills can give you better chance of success, if you know what you are dealing with you can come up with a strategy and preparation that may help you in achieving your goals, either you are in business or in gambling not just leaning with luck to succeed but a pattern that you can follow to achieved the success that you are aiming,.

Almost every one who is into gambling known already that gambling is all about risk, and if you depends on gambling you will be disappointed because gambling doesn't have a clear trust,  but these new generation in gambling doesn't know that gambling is all about risk and that's why most of the that sell their belongings to gamble always do something of that nature, so I believe that gambling is all about insurance and when you gamble very well you will not be depressed whenever you lose, so that is why we need to plan ourselves before gambling

That's right, having a strategy or a pattern on how you'll attain in becoming a successful businessman, it's all up to you. But let's not just mix gambling and business because they're completely two different things and not all of us can do as much as the other good at both of them. Being good in one is even hard and let alone in the two of it. Just don't screw with your decisions in either of it if you decided to focus to one or both of them. And just a hint, it's much less harder in trying hit success with business.

Therefore, until now you are still working here at the casino you mentioned? It's good that you have a job that you are doing now and in addition to what you are doing here in this forum
of the crypto space that we are part of here.

What you are doing is right, at least you do not have only one resource and it will also be easy for you to accumulate crypto coins
that you think can give a decent profit to you in the near future.

As a regular gambler who knows how to be responsible, people often don’t realize they’re gaining valuable experience from everything they do. I went through the same thing when I first wanted to start a small business, I didn’t overthink it and just went for it. A few times, my business was slow and I kept moving around, but eventually I found the right spot, and now my business is doing a bit better.

This is one of the positive sides of gambling. It’s not always just bad.

Exactly but how can being a gambler help one in succeeding in their business? I was thinking you got tips on what to say to us concerning your thread that will really help a gambler that runs a business as well. Meanwhile it takes discipline to outrun that effect which is to say for one to be a gambler and still runs their business effectively takes discipline.

If I am the one plans to launch my business for sure that gambling will be out of my scope or I don't pay attention on gambling for a while since I know that it will be just a total destruction. Also provably that I will just get a problem with it that's why I really don't see any point of this thread that actually point out that it can help people to became a successful running their business.

The fact that majority of gamblers are reckless on their decision making that will make them a loser instead of gaining something from what they created.

Also I choose to get experience from other sources and will not correlate gambling to a running a business since is totally different.

I think OP is also trying to know if there are people here who has actually become successful in business because of the experience that they acquired from gambling as risk takers which I already said in my first comment that the both experience are not usually the same and the fact that someone is a gambler doesn't mean the person can manage a business effectively. I doubt there's any tip as to how this can be possible, this works differently for everyone.

But I think the connection between risk taking in gambling and success in business is so thin, that its almost unseen. For example its the same as saying that professional boxing helps to succeed in running a business, because people would be afraid not to accept your point of view or proposal. When OP meant being a gambler, he probably has meant that its a person who can control emotions, evaluate risk, respect hard earned money, dont rush at taking decisions. No doubt that these qualities will be useful, but wont play a main role. For me success in business is build on knowing the market, but we cant say that gambler who knows the game will get any success in it.

Probably there are some cause the main similiarities of gambling and business are likely it both incurred risk. Absolutely relatable, for me gambling taught me how to manage risk, stay calm under pressure, and make bold moves without guarantees same skills I now use daily as a business partner of one of my friend. The key difference? In business, you can stack the odds in your favor. Only the lame part on gambling is its too addictive while business isnt focus on that but consistency.

Maybe on risk taking part, but actually on other aspects its far to relate everything what gamblers done then link it to possible success of doing a business.

Since most of businessman have extra ordinary discipline since they need to make their business succeed. While usually gamblers rely only on their luck and for many times they do risky decision then think about that its fine since somehow they can recover their losses on other day. Those negative attitude will collapse a business if they apply those things on their business. That's I think separately and don't get involve any gamblers mindset if I try to run my business.

The similarity is only from the courage in taking risks, but of course there are differences, decision making in business is usually measured or a business actor usually has thought about various possibilities that could impact his business if for example he takes a risky decision and usually they have also prepared a plan B when the risk taking does not go according to plan, while in gambling the scenario cannot be like that, when your plan does not go according to what is expected then you will lose 100% of the money you bet and you have to start again from zero. Rationally, business can be learned, meaning that even though the results of taking risks are not as expected but they get new lessons or knowledge, while in gambling when you fail there is nothing you can learn.

The risks in gambling are different from the risks in business, in my opinion. You can't fully learn how to win at gambling, but in business, you can learn how to profit.

Perhaps it wasn't his experience, but the results of his gambling that helped him start a business, like someone who wins a jackpot and uses the money to start a business and becomes a successful entrepreneur.

A poll would have given you the answer at a glance. I have many successful businessman friends, and none of them are gamblers. I have friends who have been gambling for an extended period, but they have had no success in business, even though they have been gambling for a long time. So based on my observation, it’s not.

You cannot apply the same principle in gambling to business and vice versa. There are different principles for gamblers and businessmen.
A businessman can calculate the risk and the profit, but you can’t do that in gambling; you cannot be a businessman in gambling, you’re a bettor hoping to win.

Hmm. I'm not sure if it helps. Perhaps in some cases, but not always. Yes, I agree that there are risk-taking similarities, but the nature behind it is different. Sometimes, there are just blind risks and calculated ones, and that's a significant difference.

What I'm worried about is that the data do not support the real value of being a gambler who runs a business. Is there any research that supports the alignment of the two? Maybe then we can quantify if it's legitimate or not. That's pure chance for sure.

I’m both gambler and businessman which is perfect fit to answer this topic. Based on my experience it’s not always helpful because you will be able to risk higher money on business if you will rely on chances that it will be successful despite there’s a high risk you are taking on the business that you plan to open.

I have some bad decisions on my business too in the past due to my willingness to take the risk that’s why I let my wife now manage our business and I’m just supporting here in the background through financing it.

All the decision making is done by my partner.  :)

Op I didn't know if you are talking get m experience or just saying it. If a gambler own a business he will used off the funds for gambling. It has happened to many people which I have seen and it is a first hand information.
A man married with children had a good going business but the became to suspect and complaining out that her husband was using the business money to gamble everyday and the business started to crumble. And when she finally found out, she left the man and everything ends there. The business collapse.
Another instance again a boy own a betting shop and use his profit and capital off from betting.

Businesspeople take risks with careful and detailed planning. They create several plans for their business execution. The way of taking risks is different from gambling. The mindset used should be different. Perhaps there is indeed a connection between the character of gamblers who like to take high risks and how they apply this when planning their businesses. Not everyone is brave enough to take big risks when starting a business, especially when it involves capital that could be lost along with a failed business.

Some don't know that with the way of their thinking and behavior in gambling , such could help in assisting them develop more structural implementation in other things about life, this may not be in gambling or running a business only, but can include a vast majority of aspects it may be as an opportunity for us, that is why we should not take for granted any opportunity we had, some may be useful for us in other aspects in life, only if we never took them for granted.

In every field, people take risks and from there they can succeed, it is not possible to achieve success in life without risk. We know that if we bet in gambling, we can lose and win here but we have a mentality, maybe we will win but many times we lose but we do not break, although very few people break when they lose in gambling. However, compared to gambling, there is less risk in doing business, if you think that to be successful in the future you have to take risks in business then this will be said for you. And if you take risks in gambling then I think it will not be good for you at all, because a business enters a good phase at some point. However, if you waste your money in gambling, it will not be of any use to you in the future but if you can set up a business with that money, it will make you successful in the future.

Taking risk in different fields and having gambling mind are completely different things here talk is can gambler being a good in business I have my view its never been easy or near to not possible because where I am living things have never been easy to manage.
Life is not easy so peoples those are having gambling minds mostly ended on worst which is always on cards this make me thinking it's not possible because here gambling is completely different level and peoples love to have good amount with fewer works which encourage them for this.
In case you are having big win then never going to be involved in this and doing his business things can take changes and possibility is available as well but if you want to keep gambling and also have business then mostly ended on negative.

Gamblers and business owners shouldn't be sharing similarities because a business isn't something that you should be doing and depending on some luck to help you out why what you should be doing for your business is taking strategic steps to make sure everything that you do is to help you get a good result at the end of the day. Being a good risk taker is good but it isn't in everything situation that you should be doing that. Some situations need critical thinking and needs you to evaluate your options then make sure the one you're taking, is the right choice.

These are two different kinds of risks, I mean, when taking risks in a casino or sportsbooks, you do not have any control over the result, you can't alter things to make the result of the match in your favor, but when it comes to taking risks on a business, you control a lot of things like, what you sell, your target market, your marketing, you can adjsut things if something doesn't work, etc... so, while both are taking risks, it is a two different kind of risks.

How do you get to control people's desire? Look the effects of marketing isn't controllable, it's very close to gambling, but the lucky thing is that it can get tweaked, yet won't guarantee a certain sure result. Business is very risky. Take for instance, traders who use crypto as a business, do they have any authority regarding the market fluctuation?

I am not a businessman, but I don't think the risk in gambling and business are the same. Some people might argue that it's all about taking risk, yes that's true but a gambler risk taking is different from that of a businessman, because for you to venture into a business; you already have a vision and plans set aside for the growth of your business. A businessman just don't take risk, but calculated risk, why some gambler's just take risk without even being calculative, although some gamblers take calculated risk but it's still not the same as that of a businessman.
A businessman has a drive and works towards what he or she aims to achieve and they tend to be very calculative before taking any risk.

I am a gambler and also a bussinessman but recently i have to closed my bussiness and going to bankrupt and the reason is very various but one of the main reason is during build my own bussiness i am unable to managed my money and i have to says gambling and bussiness has similar risk because if people have failed to managed their money in these things eventually they will lost all of their money and do not forget too lucky is required even people who success in bussiness have admit this thing that they says smart and good skill sometimes didn't works properly if people have no luck to build the bussiness

Indeed, that's a very good decision coming from you. We know ourselves, and if we think that we are jumping the gun way too much and taking higher risks than it is, then let someone else handle it, especially those whom we trust and have seen us make mistakes in the past.

I believe businesses are better risk than how it is in gambling. I mean, if you play and lose the money, it's gone. In business, there are chances that it can be saved as long as we are willing to make more efforts in changing the system if something is not working. I mean, there's a fix in business, unlike how it goes with gambling.

Just to say why gambling and doing business are not one thing. At first, we should all know that even if there is a consistency here, most of the time people lose people but people do not always lose in business. There is a bit of a risk here to take the risk but not just business you do not work, you have to take your confidence and risk there. Then you will achieve success. When a gambler starts betting on any casino or gambling. Then he will never be able to say how much guarantees, but an experienced businessman can tell how he will be able to run his business successfully and improve it later. Now if a person considers the money, then I would say that it is possible to earn more money only by gambling for a short time but it is possible to lose all money. However, the business field is different because there will be no number of losses, if it can be managed properly or if you do business honestly. In this case, as much as I can say, a gamble will never be a successful businessman. Because gamblers are the most greedy, they suffer the most.

Some Gambling lessons & experiences can subtly become insightful in business and sustaining business strengths.Mindfully,only disciplined Gamblers can proceed with such strategies into their business activities;it makes it easy for them to reflect on skills,tools that's valuable in running their business.

Business operation is different from gambling. First you will have to look at viability of your business, do survey and take note of those factors of production like land, entrepreneurship skills, labour, and capital. That is, if you are talking about going into manufacturing but this is not found in gambling. With gambling, your calculated risk is the reduction of your risk appetite in staking amount and it is still based on LUCK which in most cases is absent in business. In business, you take note of policies that can affect you and if you take care of it, the chances of success is high. Therefore, business and gambling are different and will not be compared.


Success in business because of the gambling idealogy will not be realistic. Someone who is gambling and using such gambling idea in business will not last in that business because the modus to operate a business is not same with depending on luck just like in gambling. There is one on one bargaining power, strategy or lobbying in business but gambling is just luck that may not last. If you are successful in gambling and using that idea for business operation, the success will only be temporal.

The keyword here is right execution of courage (calculated risk taking), insight, perseverance, knowledge, and funding.  I do not know how being a gambler helps a person to be successful in life but I can say, even without having to gamble in a casino, people can learn things that @OP is talking about.  I said it because life itself is a big gamble, but not the same thing as gambling in a casino.

Most casino gamblers often end up using their business fund when they lose control of themselves, which contributes to their business being ruined.  It is not being a gambler that made a person succeed, but being able to take calculated risks whicfh is needed in a business to prosper.  Blindly taking risks will only exhaust a businessman's funds due to failure.

That's why I said "you control a lot of things like, what you sell, your target market, your marketing, you can adjust things if something doesn't work, etc..." Opening a business isn't something you just do with a bit of preparation, you study the indutry and learn the ins and outs, you research, you insure, you make plans. Sure, business is very risky, but it is the kind of risk that you can reduce with proper preparation, which you can't really do in gambling. As for trading, while they don't control fluctuations, they do control their asset and adjust them when the market fluctuates, which you can't really do in gambling.

Starting a business and gambling have two entirely different risk patterns. I'm gambling I'm cautious and don't push excessively, even in the sight of a defeat, but in my skill and business, I give my all and even more. What revitalizes my attitude towards work is simply my desires to succeed no matter the obstacle, but I cannot say such when I'm gambling else that would mean gambling irresponsibly, so being a gambler isn't my source of inspiration towards work at all and it can never be.

It's the same in my case. And here I don't really believe that being a gambling can make you successful in running a business.

And the main reason for this is that I am very stingy when it comes to gambling, so I use the smallest funds I can afford and at the same time I do not lower the risk level before taking a wager. And on the other hand, there are also those who have used hundreds of times more funds to do business. What I mean by this is that taking risks in gambling and taking risks in business are two completely different things.

Gambling and business are very different, even though both involve taking risks.
In gambling, you mostly depend on luck. You might win today and lose everything tomorrow. You have no real control over the outcome.
But in business, you make plans, study the market, calculate your costs, and try to reduce risk. You use knowledge and experience, not luck. Even though there's still risk, you can manage it better.

Now, it's possible that someone who has gambled a lot learns how to handle pressure or make quick decisions, and that might help a little in business. But to truly succeed in business, you need skills, discipline, and a good strategy not just luck.

Definitely true, that with the right specialty business gets controlled to fetch good results which relies on a certain natural phenomenon; mass desire. If a business owner is able to understand what the people desires, they'll probably succeed. But it's not that simple, and above all, preparation helps a lot in achieving such goal. All of that can't be in gambling, but if a player stays actively in watch of their habit, they can't tweak the results, but can control the way they spend. Just like in business.

Both in gambling and business people risk with money. Bad luck or wrong move in gambling means you will never see your money again. In business there are methods to get back money spend on wrong investment, from unfair intermediary, from debtors if you go to court. In business being without money does not mean you are broke and business is bankrupt. Even having debt in business does not mean you are finished.

You are right mate, risk and procedures in business is not same as in gambling, people could manage their business very well but when it comes to gambling, they could lose all their business money to it, similarly to responsible gamblers that might not be able to manage a business with that same risk and method that they use to further their gambling activities.

But we can't argue the fact that we can afford to take risks in gambling, where we can't expect any returns. There is no question that we can also afford to take risks running a business where we can ensure profits when managed properly. I think that is the point that OP wanted to raise. Of course, they are in different situations, but for sure, they can be of the same mindset, which is to overcome fear.

If OP does it well and applies all the learning they've got from gambling, why not give them a thumbs up?

The risks involved in gambling and business are different. In gambling, you can risk money that, even if you lose it, is an amount you can let go. In business, there are risks, but they are often very low and may not even materialize.

In a business that you understand very well, you may decide to invest some amount of money and make a profit from it, but in gambling, the outcome can never be predicted. This is why the risks of gambling are more comparable to those of business.

In reality the connection between gambling risk and business risk is a very big one that one can or should understand that, facing humans sways and unpredictable acts are in business while the unpredictable outcomes of gambling are somethings acceptable because it's an awareness in you that you loss more but in business the mentality of loss is very distance from every business owner as they only maximise profit and not losses. I think we should part ways for gambling and entrepreneurship.

It is good not to overcome fear in gambling. Have the fear and play responsibly than to overcome fear and think that you should increase your bankroll that is used for gambling. Although, those that are using small amount of money are not having any fear to overcome just that they want to have fun or trying their luck with small amount of money instead which is better. Business is something different entirely.

Definitely starting a business can be considered risky if only you fail to plan well, sometime challenges might come but not as gambling risk. Trying so hard to understand and from my experience business loss depends on a business owner meaning you can actually escape lose and risk by following the basic terms involved with the business meanwhile gambling risk can’t be calculated except you decide to gamble an amount you can afford to lose. Taking risk differ and the outcome might be different, generally taking risk responsibly can actually lead to success mostly in business field, personally I can’t relate both gambling risk and business risk.

'Fail to plan is a plan to fail' and gambling wants players to plan every other thing and as well close up a good timing and money spending method. Not all of the plans would work but even a bad plan is also a plan. And it could guide a player better than having no strategy whatsoever that disciplines them to take limits.

Essentially, anything that leads to limits to minimize various undesirable possibilities is always good and recommended. However, failure doesn't mean you're planning to fail. The most important thing here is to be willing to try to develop a useful strategy to minimize the possibility of significant losses.
Always maintaining a minimal approach, such as betting small amounts and not focusing on winning, is a good first step to becoming a gambler. In fact, the key, in my opinion, is "don't make winning a priority." That's all.

It's still risky irrespective of how well you plan towards starting a business because the ratio of success isn't that high. We have quite a bigger number of people falling in their business than those winning or aren't you seeing the numbers of businesses that are getting started and shutting down before you even know. Operating a business isn't easy but gambling is so we can't be thinking both are related. Don't gamble with your business or you'll be out of business before you realize. Pay attention to the things you're doing so you don't repeat mistakes in business. Gambling is for leisure while businesses are the real deal.

That's exactly what am talking about, just like what happened few days ago, a finetech company offered me a working capital loan of about $5k to use in expanding my business, I actually declined the because I didn't need for now, please other calculated risk, but some gamblers would take the loan and use it for gambling, while a business minded person would not take the loan unless they are very certain about the expected profit and the possibility of repayment.

Notes can be taken from your statement, your personal ideology is actually a fact, gambling experience has nothing to do with gambling. When you are making an investment your state of mind is different from when you are gambling. Almost everyone gambles with the mindset of having quick multiplicity but this cannot be the mindset of a business man because it's going to crash your business rapidly

I tend to think that risk in gambling and risk in business are not the same thing, although in both cases the subject of risk is money.

In gambling, risks are within the rules of the game. Whereas in business, these risks represent chaos of various factors and events. Also, in gambling, you can influence the result only by pressing a button or making a bet, and in real business - many ways to interact with this "chaos". In general, I believe that these are risks of completely different levels.

Also, I would like to note that I have never heard of gamblers in the stories of "success business" (although, maybe there are some). That is, gamblers don't become successful businessmen (at least to the level that there would be information about them in books about businessmen as examples).

Failure also visits those who planned not to fail, but the worse of it as I said, is not doing anything at all about succeeding, in one aspect that suites us right or help in becoming a better player. I would place people who do nothing about doing things right in the category of gamers who don't know where to begin with planning a strategic method to gambling.

For me, I can totally say that there is a huge difference between risk taking in gambling and that of starting a business. Because just as gambling involves taking a risk whose outcome are a product of random agorithm, on the other hand, starting a business has to do with taking a risk whose outcome has already gotten a proven track of success by others in the very business you want to do. As it involves intentionally taking a survey of an environment first to knowing if such business with be suitable for such environment or not. Because in business, you don't just blindly take risk, and I won't advice any gambler who hasn't gotten any business experience to just jump into it, as you stand a greater chance of losing your capital. Because business goes far beyond taking a risk, but understanding the entire concept that surrounds it.

Actually, if the OP uses his gambling experience to do well in business, then it might be good for him right now. I won't disagree with that, but I don't think it's advantageous to do business with a gambling mindset.
Because it is very easy to understand that the knowledge required for gambling is not the same as the knowledge required for starting a business, but rather a lot more knowledge is required about that business sector. Now in gambling we can win without following any analysis or topics, but in business we must use our expertise and if we do not have that skill then no matter how big the risk is in business, the chances of its results being good are very low.

Just because some few gamblers have managed to create a successful business makes it already in general that all gamblers can turn into successful business owners? For me, it still depends on the gambler’s personal knowledge and skills, and the strategies that he keep enhancing which can be proven effective in running a successful business as well.

A good gambler can be a good business owner as well, while there are also good business owners that are not doing well in gambling.

You need to have that strategy and additional back up plans just in case you failed from your attempt to succeed, there's always a good adjustments to make if you take failures as stepping stone to learn more about succeeding, that particular approach can also be adopt when you are into business, even you already plan your way to succeed, if things did not materialize, learned to accept and find the best way to adjust there's always a chance if you already learned from your own experienced.

It is impossible for a gambler to be successful running his/her business,I haven't seen anywhere where that happens considering the fact that the person will be using his capital from the business to be booking and gambling, it's said one can't mixed pleasure with business, anyone that mixes pleasure with business the business won't survive,one you keeping removing money from the business without replacing it,lo and behold the business will collapse.
Except the gambler won't be using the money from his business to gamble then he/she can be in business or run a successful business, gambling is all about risk taken which we understand perfectly but you can't  be risking your capital on gambling and at the end of the day you loose,the business will drastically fall. As a business person just stay away from gambling,it will make you fall.

Only if we don't take it for granted, we could actually pick up some insights from gambling and apply to how we run out business or daily life, gambling is not just a child's play, but what we do to get more knowledge and help boost our thinking ability towards critical circumstances, so if I can see a gambler who is well disciplined enough, then I can tell you that such attitude could help him in his business or way of life positively.

The risk taking of businessmen and gamblers is completely different in my opinion - I'm not sure where the correlation is. Gamblers essentially take risks because they want to have fun in the hope of winning something - but businessmen play among risks that are not instant like in gambling. Gamblers may be able to do business and succeed at it - but risk management in both is completely different.

Such would happen when the person is not very disciplined I believe that if a business person learns to gamble responsibly the person have a good chance of properly managing his business and still gamble during his leisure, owning a business has it's own risk but all it takes is the person to just understand the risk management of both gambling and owning a business then he'll have a fair chance of handling both making wrong decisions.

I have seen more people lose their businesses due to irresponsible gambling than gamblers who have achieved success in their businesses.

Indeed, when it comes to gambling or business betting, one of the keys to success is the courage to take risks. However, if done without careful calculation, then it is not courage, but recklessness.

In building a business, experiencing losses is inevitable, while achieving success is merely a matter of possibility. However, that possibility can still be fought for and maximized, and even if you fail, you gain invaluable lessons and experience. When it comes to gambling, however, it is almost entirely dependent on luck. The chances of winning and profiting from gambling are very difficult to maximize. And when you lose, all you get is loss and regret.