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1  Economy / Gambling discussion / Re: Is gambling bad to the society? on: June 24, 2024, 09:00:55 AM
I could say yes in the sense that there are alot gambling abuse, people approaching gambling the wrong way, it is only those who approaches gambling in terms of profits maximization or as a hustle to earn a living. There is no restrictions on how anyone can spend his or her money anyone can do whatever they like, what the government could have done is to organize a sensitization campaign program that will reduce the act of irresponsible gambling and it's negative effect which are too numerous to mention, if gambling itself where that bad I believed it wouldn't have been legalized which has given a certain level of freedom to the society generally.

I think it's similar to alcohol, in that it is fun to participate in it in moderation, but of course if you overdo it you will have problems.

And there is a lot of money involved in gambling. Actually if you go to a casino you usually have great deals in the bars, restaurants, etc, because they want you to gamble, and they offer great things at lower prices than usual.

If you don't gamble, you can get a lot of great deals in casinos. The moment you gamble though you start paying for those cheap deals.
2  Economy / Gambling discussion / Re: Double your money and quite on: June 24, 2024, 08:57:59 AM
Doubling your money is not as bad a concept as many see it, for example sometimes once a month I do something that sometimes gives me good and bad results, for example I take 10 usd, and I bet them, if I win I bet those 10 +10 more, it's something like compound interest, and I keep doing this until I reach 100 usd, I only do it once a month, and when I fail then I stay there and nothing happens, I trade when I win at least I walk away with 100 usd in 4 moves nothing more, that's the same thing I do in trading, but why do I do this? It's not because I'm crazy, but sometimes to win a lot you have to bet a lot, that's always the case, when we bet 1 or 2 dollars it's difficult to keep an account to large numbers.

Yeah, but the thing is that gambling is not a way to double your money like that.

The expected value of gambling is negative for the gambler, so in the end you will have zero.

It is a very different thing to invest that money into something that has a potential to grow. Very different thing compared to gambling.
3  Economy / Gambling discussion / Re: Gambling is not place to make money is place to lose it? on: June 24, 2024, 08:56:29 AM
~snip~
Everything about gambling boils down to risk management. If we are not able to manage our risk they we might be unfortunate to end up at the wrong place at the wrong time. When we are prepared for something, we can always face the challenges but when we are not prepared, the challenge can take us unaware and we might end up at the wrong place that is not fit for us. Risk is enormous in gambling and when we can nit control it, we might end up at the wrong place when we are not supposed to be. If you keep losing money in gambling, that means you are not taking enough risk management.

Yeah, not everyone is great at managing risks...

Many people are simply blinded with the promises of more and more money in the casinos.

They see this future where if they simply gamble one more time, they will win.

In reality though, we all know that it's not going to happen.
4  Economy / Gambling discussion / Re: Casino/gambling center near an institution of learning? on: June 24, 2024, 08:54:21 AM
~snip~
Even if that is the case, it is still incorrect for a casino to be so close to a school, I still remember when arcades were a thing and regulation was passed to keep them away from schools too, and if there was one nearby anyway, you could see students wasting their time there, and I know this because there was one close to my school and many of my friends skipped classes all the time just to play some video games, so it is easy to me to see students doing the same if there was a casino close to their school.

I don't think it can be simply considered wasting their time.

There's now a lack of a third place, basically all the time people are either at home or at work. The gaming rooms of the old days were a place were friends could meet and have a social time.

Not everything in life is money, we are social creatures, and it is actually quite beneficial to engage with other people outside.
5  Economy / Gambling discussion / Re: A Max Win is the worst thing that could happen to you. on: June 24, 2024, 08:52:28 AM
I think I understand where you are coming from. Mostly, we can see how other exchanges operate as well. Maybe it comes from the part where you can deposit money but you cannot withdraw the funds unless you submit KYC. I think it's their responsibility now, as a business, to have clean money come into their system and operate and do it accordingly.

They shouldn't really be afraid of max wins as long as the money came correctly to their business, if not, it's not the casino's fault. Maybe they just keep it as a bank roll but the user that deposited it should be responsible as well if they were to withdraw their money.

Casinos have a lot of money coming in and out.

I think the main problem about a max win is that the gambler receives a lot of money, and they want to repeat that.

But in reality they will most likely lose it all back to the casino eventually. It's just how the game works.
6  Economy / Gambling discussion / Re: ⚽ Football Transfers Speculation, Odds and Predictions on: June 20, 2024, 09:17:16 AM
~snip~
Joselu is 34 years old now so it's realistic that he doesn't have a bright future anymore, now he's just waiting for his retirement.
Real Madrid is Joselu's dream club so even though he is on the bench he still won't leave and for next season Ream Madrid has given him a new contract with a duration of 1 season so this will be good for both of them, Real Madrid can take advantage of Joselu's contribution when needed and Joselu could be in one of the best teams in the world, so this would be the right decision.

In this day and age we see many players retiring later and later.

Some players are actually around 40 years old and still are happy to continue.

I don't think 34 is too old to continue playing to be honest. It all depends on how well they can keep their performance.
7  Economy / Gambling discussion / Re: Have you achieved anything from gambling on: June 20, 2024, 09:16:01 AM
~snip~
We must not forget that the more we play, the more likely we are to hit the jackpot, the main question is when this will happen. If we are lucky and this happens at the beginning of our gaming journey, then we will have the opportunity to simply leave the casino, although I perfectly understand that this is very difficult to do for many reasons, but the key idea here is that this will happen to someone. The rest of the players will never experience this, and even if they could take their winnings and leave, they will not be able to do so.

Sometimes you need to think about different things, and one of them that arises for me is how the casino makes money, if on me, then how can I tip the scales on my side as much as possible. This will reduce my losses, although it will not guarantee a win. But as I mentioned earlier, whoever lasts longer in a casino with minimal expenses is already good, if at the same time we get at least some satisfaction, and do not go to play like a soulless gaming machine.

The odds are always the same, independent of how many times you have played.

Imaging throwing a dice, the chances of getting a six is always 1 in 6, no matter how many times you have done it in the past.

Now, if you meant something like, the chances of getting a 6 after X amount of throws, then yeah, the more times you throw, the more chances you have. For example after 6 throws it is expected that you should have one six.
8  Economy / Gambling discussion / Re: A Max Win is the worst thing that could happen to you. on: June 20, 2024, 09:13:05 AM
Do casinos really not let you go through the Know Your Customer process until after you’ve made a deposit? That’s seems strange to me and is something you’re reasonable to complain about. I guess I understand the other side of it too. They don’t want to waste time checking documents of people that will never make a deposit.

Yeah, it's not a free check for the casinos so they probably only pay for potential real customers.

I'm sure there must be an order of magnitude of accounts that are registered but never actually get any deposits in.

It's easy to create a free account, but putting money in is what makes the difference. No point in wasting money from the casino's point of view.
9  Economy / Gambling discussion / Re: Casino/gambling center near an institution of learning? on: June 20, 2024, 09:11:21 AM
~snip~
It is a good thing as a protection for the students. I've studied in a public school when I was still there and there are measures like that and only the students were the ones making their own gambling games not from an establishment.

Yes, students are really absorbing a lot of stuff that is around them in their brains, and having a casino might end up being a very bad thing for them.

Usually companies give their products samples for free to students so that they get hooked and when then later they start working they make the company buy those products they are already used to.

Similar to gambling, if they see ads when they are students they might get addicted.
10  Economy / Gambling discussion / Re: Rich or poor gambler, who should risk more? on: June 20, 2024, 09:08:43 AM
~snip~
Of course, if we talk about gambling then there will be no difference between rich and poor people in terms of opportunities, it is difficult to explain it in detail, but what is certain is that everyone has their own lucky times that can lead them to victory, rich and poor people still can win, but perhaps by a different amount.

But still the problem of who will win more often between rich and poor will never be known, the reason is clear because luck is something that can never be controlled which will only come by chance without you knowing, meaning there is no element consistency in terms of achieving victory.

Simply put, whoever you are, rich or poor, you have the opportunity to win, but you also have the possibility to lose, the only difference between the two people is in terms of the amount of winnings because it is clear that rich people bet bigger amounts than other people. poor, but we must understand that rich people can also experience far greater losses than poor people.

True, and at the end of the day rich and poor both can end up with zero in their accounts.

It doesn't really matter with how much you started if your ending balance is zero.

The difference might be that the rich person might have a larger buffer and stop before it's too late though.
11  Economy / Gambling discussion / Re: Have you achieved anything from gambling on: June 19, 2024, 05:16:20 PM
~snip~
Well, unfortunately, in my history of casino games it is like that, only that those losses have made me mature a lot and learn, for example, in the management of risks with money it was something that I learned practically by blows and because of the enormous losses that I had at a given moment, but if I had not had them I would not have reached the technique that is applied today in trading and in games of chance, which for me are analogous and totally applicable to it, it consists of playing with little money and with the available to lose, if I lose I simply assume it and do not insist more, of course you have to have the discipline of not depositing more even if I am dying to continue playing.

Yeah, that's kinda how it works in general, most people will lose more than what they earn.

But, any time a gambler wins big they will let everyone around them that they just won.

It doesn't matter that they won say 100 and put 200 in, all that matter is that they just won 100.
12  Economy / Gambling discussion / Re: Rich or poor gambler, who should risk more? on: June 19, 2024, 05:14:29 PM
Nobody should risk more. Actually it's depends on mentality. Many poor people want to change their luck by win big in gambling and lost everything. Similarly i read lots of article Where are found that many Millionaire turned into bankruptcy in casinos. So it depends on mentality, how should you manage your money. But I think most of the time poor people do gambling than rich people. As a rich people are already rich, they own multiple assets, that's why if they loss in gambling, they would recovery their money from another source or they can lead their like without problem. But if poor people lost their money, it'll be hard for them. It'll directly effect on their economical life and their their livelihood who will cause suffer in long run. Cause gambling is always risky so poor should avoid gambling and rather they should Focus on building their wealth

Yeah, but really for rich and poor it is the same. If you go all in, you will risk all your money, independent if you have $1 or $1M. It's all in.

So, in a way, they can be the same.

And also the odds are the same for both of them anyway.
13  Economy / Gambling discussion / Re: Is gambling bad to the society? on: June 19, 2024, 05:12:52 PM
~snip~
It's up to us. If a person is irresponsible, they don't even need to gamble to make shit happen. Once upon a time on the internet I came across an example that perfectly demonstrates that the shit we do is ourselves. We all have kitchen knives at home, and every day in the world people die from kitchen knives, but that's no reason for everyone not to use knives for their intended purpose. Same goes for gambling.

Yeah, I guess you are right.

At the end of the day it is personal responsibility.

If someone is not up to the standard, then that's on them I guess...
14  Economy / Gambling discussion / Re: Casino/gambling center near an institution of learning? on: June 19, 2024, 04:53:18 PM
IIRC, there has to be rules about these institutions that there should some kilometer radius far away with these kind of establishments from the universities that they won't allow them to establish businesses like this near to them.

I'm not sure how it works in some other countries but I guess that the local government there are wise enough and understands the cons of this kind of business that are near to their students.

Because they'd surely be affected on it if they're so close to it and their visibility is just on the naked eyes of these students if they passes by.
Yes, different countries have different rules about it but in general you are right, there is some kind of distance enforced.

I think that is a good thing.

Otherwise, the casinos will be bloody everywhere.
15  Economy / Gambling discussion / Re: What if you have a casino? on: June 19, 2024, 04:52:02 PM
~snip~
 the issue of casino promotion can be solved with the help of money, it is not such a big problem at all. it is much more difficult to find competent people who will deal with such issues. Nowadays, a good specialist is worth his weight in gold. If you do manage to find such, you should also provide them with proper working conditions, which can be a problem. Few employers care about this. And for nothing.

Kind of...

At the end of the day it is usually going to be word of mouth, the casino that works the best, and the casinos that are shit.

You can't really just put money and spam, you need to do a proper campaign, yeah you are right you need the right people to do that kind of job.
16  Economy / Gambling discussion / Re: Have you achieved anything from gambling on: June 18, 2024, 12:14:03 PM
This topic really interest me to talk about because I know so many persons have their own say about this,some will be on the side that gambling have helped their life,while the other once will say gambling and it addiction has been worst for them, everybody is entitled to their own opinion and what they have experienced while gambling.But all I know about gambling since I started it is that it has high addiction rate,there is no sure odd in gambling,and the losing rate in gambling is more higher than the winning rate.Since  I tarted gambling,I can say that I have had losses more than wins,let me say my win is just 3 percent out of 100.

Yeah, that's how the game works.

Most of the time you will lose money, and of course you will get some wins along the way.

It's all about psychology. It you play a game where you always lose, you will stop playing it. But if you play a game where sometimes you win, and sometimes you lose, that makes it interesting and you come back.

Now, humans are very bad at probabilities so they won't really know how good or bad a gambling game is in terms of probabilities.

At the end of the day, the casinos have the advantage. You pay to them in the long term. It should probably be seen as paying for entertainment. Never assume you will get back what you bet. It's most probably lost.
17  Economy / Gambling discussion / Re: A Max Win is the worst thing that could happen to you. on: June 18, 2024, 12:10:50 PM
~snip~
Therefore, before you decide to make a deposit on a gambling site, you must first read the TOS carefully so that you don't get trapped or feel trapped in the future when you want to make a withdrawal. If you really don't like or agree with KYC, then just leave the online casino and go to another casino that doesn't require a KYC system, but if you compare it with gambling sites that require KCY, the number of gambling sites that don't require KYC is very small and also Licenses are sometimes unclear.

Yeah, I think the most basic thing a gambler should do is simply test the system to see if they can deposit and withdraw money, maybe with a small amount, to test that the entire pipeline is working, and to see how withdrawal works.

Once that's tested, then you can start playing. Because at the end of the day you don't want to be in a situation where you win a lot of money and you are not able to claim your money.

That would be the worst possible outcome ever.
18  Economy / Gambling discussion / Re: Double your money and quite on: June 18, 2024, 12:08:50 PM
Quitting has never been an option to gamblers in the business of gambling,they see gambling as something that gives them joy, Something they always want to do.I know gamblers who have rejected working for gambling,they said gambling is less stressful,they said Gambling gives quick money,they  said it also gives them fun.
Well,all this things that are being said about gambling might be true,thats why most gamblers,not all,but the few ones that have benefitted from gambling,the few ones that have made their life meaningful through gambling are the only ones who can make those sentences.

Yeah, it's all about the fantasy of making money.

No one actually really enjoys the games for what they are, otherwise most people would just play for points without risking their money, as they are free.

The main attraction is the possibility of hitting a home run and winning a lot of money, but for that you have to pay the ticket, and that is expensive over the long term as most gamblers will lose more than what they win. Many will lose it all in the end.
19  Economy / Gambling discussion / Re: Is gambling bad to the society? on: June 18, 2024, 12:05:42 PM
~snip~
Yep, using the government perspective, they're judging what is good and what is bad for society depend on the majority effect. There's always someone can win through gambling, but people forgot if there are a lot people are loss in gambling. Since there are more people who loss than winning, the government see gambling is bad for the society. Not to mention that there are religions that forbid gambling, this makes people who're in that religions will say gambling is bad.

Yeah, the vast majority of people will lose more than what they win while gambling.

It is a known thing that gambling attracts some negative issues to society, but governments are quick to get their cut, they get a lot in taxes from gambling.

So, if the government is happy, casinos are happy. The only not happy ones are the gamblers losing all their money.
20  Economy / Gambling discussion / Re: When you are not to gamble. on: June 18, 2024, 12:03:52 PM
~snip~
Hobbies can turn into addictions as well because it's all dependent on one's mindset and how much patience and self-control they have. A person with low self-control will get addicted to anything they do daily, they can't control the urge and whenever the time comes for that thing, they start feeling like something is missing or they haven't done something very important which is the hobby they have which is slowly turning into an addiction.

So people need to understand that it is never about how often someone is gambling for them to avoid getting addicted to it, it's about how they see gambling and what their thoughts are when they are gambling. If they see it as a fun activity that they do when they have some free time and extra cash, it's all good, but if they perceive gambling as a way to earn money, that can create problems for them even if they are gambling once a month.

Yeah, I think a hobby can be seen as an addiction if it is causing issues or problems to the person.

As long as the person is in control of the activity, it can be seen as a normal hobby.

The key difference of course is in who is in control, the person of the activity...
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