True life Story.
A friend i know recently narrated to me how his business almost collapsed due to trust he had for another of his friends who he thought he was helping by recruiting him to manage one of his Retail outlets. He narrated how having put him in charge of that point started observing a decrease in the the profit from there intended for savings and reinvestment. He confronted him severally to know what the problem was, but his friend attributed it to being ill and needing drugs, until one faithful day when he ran into him in a betting shop during working hours betting on virtual football games, how disappointing!
Questions for discussion
- Are gamblers eligible to hold financial positions?
- Do problem gamblers deserve a second chance to hold a financial position?
Based on your story, you can't really trust a person with a gambling addiction issues knowing he will just gamble the funds when all his own funds have gone from losing. Do not wait for your friend's business to fall into bankruptcy as gamblers will always be gamblers, they will always prioritize their gambling activities no matter what. And once they did it once, its always bound to happen again. As long as addiction is there, you will never find good profits from your business if you continue to trust him about holding that financial position. |
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Arguably the UK’s most notorious sports bettor, Tony Bloom, is the owner of Starlizard, a company that describes itself as a betting consultancy.
Based out of Camden, London, Starlizard is also the sole adviser for Bloom’s betting syndicate, who every weekend have £1 million riding on any given football game.
This makes Starlizard the biggest betting syndicate in Britain and it is believed they make roughly £100 million a year, but that would be an average year.
Due to the secrecy surrounding the company, little is known about their total earnings, although it’s quite safe to assume it’s in the billions of pounds.
Starlizard’s 160 employees use complex statistical models to generate football odds that are more accurate than those offered by bookmakers. They even take into account the weather forecast and the overall morale of a team!
These ‘sharper’ odds are then sold to their clients so they themselves can beat the market! His much respected advice generates £13.8 million annually from customers.1 Betting consultants are gurus who have cracked the secret code of increasing one's chances of beating the bookies and sportsbooks. They provide professional betting advice to clients. Betting consultants have the experience, the reputation (they have consistently generated profits for clients over time), the expertise, and the necessary information needed to make the right betting decision. They are not Jack of all trades instead, they have their specialty. Specializing in one or more but not all of the following sports - Football, Baseball, Boxing, Horse Racing, Cricket, Basketball, UFC, Golf, and Motosport at both the professional and other levels. According to ZipRecruiter, the national average salary of a Sports Betting Consultant per year in the US is $69,887. 2Just like Tony Bloom and others, it is possible that you can turn your hobby into a profitable business venture if you are confident of your skillsets. Have you ever considered a career in betting consultancy? Source 1. https://www.tradematesports.com/blog/brighton-football-owner-tony-bloom-people-rich-sports-betting2. https://www.ziprecruiter.com/Jobs/Sports-Betting-Consultant I'm not going that far. Yes, i can say that sometimes i am good in betting but i won't consider it as something that i can make it as a career, as i only believe that it's more of luck to me than having a great skill. Also, i don't want to put pressure on myself to ensure that all my bets will be precise since a lot would be depending on me. I just want to have some fun in gambling, but not to the extent of making it as my expertise and make a good living from it. |
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Bitcoin Price Could Touch US$13,000?
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This place has become an echo chamber for bullishness. This year we will definitely see bitcoin prices below $13,000. In fact, by the end of this year prices will be below $1,000. I've proven it over and over using math and science. We’ll, I don’t see it happening this year but seeing how bitcoin price drops too fast, it’s very possible to go even below $1k. And it’s certainly the best price we have been waiting for and see everyone panicking to buy. However, bitcoin price will show signs of progress at first but later on, it will eventually drop again until we see it’s bottom price in the market. It’s just that everything is possible when bear season stays in the market and make people believe that it’s the end of crypto. |
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Not easy to learn when you have not failed yet. But when you have failed before, you'll start avoiding doing it again.
You should learn to buy back in the process of learning because this is where you get more profit when you know when to buy back.
If your goal is just to make money, you may not really own something you can't control of. But if your goal is to get more BTC within your personal wallet. You've learned. I think I heard this from Max Kaiser.
That’s the fact, you won’t care to learn unless you start seeing failure and experience it. But let’s say, mistakes and losses are definitely good motivation to raise you up again. With proper motivation and good financial management, and with long term investment plan and goal, despite of the market continue being bearish, you will never lose as long as you continue taking advantage of the market by buying and hodling more. In the end, crypto will never bring a lot of losses if you know how to handle everything, regardless how bearish the market is. |
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For me it's good to hear those FUD though, I mean you can clearly see how ignorant are or some are really blatantly just wanted to attack bitcoin with their monger spreading. And then we will have a laugh moment because we know that is not true and then stay cool. And if we have the chance then we could rub it in to those personalities, sort of trolling them in social media.  , tit for tat and see who is going to crack first. Losers will always be losers. Let them create a lot of FUDs and believe that crypto will be over, as long as we don’t ride on it, we will certainly win this game. What we have this time is not something that we should be threatened nor scared, but a very big opportunity to start accumulating bitcoin again. So never stop buying and holding, and do dollar cost averaging as it will take to a lot of profits when the bearish market turns to bullish. |
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The problem is that the majority of people, investors, traders (most especially, newbies) come into the crypto currency space with the mindset or rather, expectation of getting rich overnight. It can happen of course, because nothing is impossible in crypto, but understand that this is not 2017, the chances of someone getting this lucky is extremely low in this time and age, if you can’t invest and wait for 3 to 5 years to be financially independent, investing may not be for you, if you cant be patient and learn how to trade, bear some loses until you are good enough to start making consistent profit, then crypto trading might not be for you. Like many of us use to say, if you can't hold for 5 years, don't hold for 5mins, and if you can't bear -28%, don't expect +28,000%. Make sure to have a long term investment plan, and while you invest and wait, you can trade actively on the side. Could be P2P or actual spot or futures/margin trading on the side to make little profits on the way up. Get proper education and clear direction, know what you are doing at all time and be patient. Many might have the education, but not having a clear direction and lack of patience is one of the reasons many (especially newbies) end up loosing their hard earned money to scammers. Newbies are mostly greedy and that they always expect that investments comes with guaranteed profits, the reason why they take every chances in every projects that promise huge profits. If not for their greed, they won’t end up being scammed easily. Also, most of the newbies lack knowledge and experience so their decisions are just only for trial and error, they don’t have various experiences to consider so they would end up with a right and fixed decision in investing. |
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Whales simply use it as a playground. Even if there is a crash, you cannot rely on price movements. When there are liquidations for longs and shorts, the market takes a big swing to screw as many people as possible.
And weak hands usually fall for them. I guess that’s certainly the role of the whales in the market, to create fuds that will threaten the investors and those who are not strong and wise enough will eventually fall on their tricks. That is why it’s not only the funds that should be prepared when we enter the market, but also having positivity in our mindset and strong faith in our investments. Otherwise, whales will definitely take advantage on us every time the market crashes and left us losing in one side. |
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It's not just China, all the corrupt authoritarian regimes have been making similar statements. For example the American Mouthpiece such as Fox News have been spreading basically the same doomsday propaganda against bitcoin.
This looks like a very good sign to me because it proves that Bitcoin has been very successful that it has struck fear into all these dictatorships. We are in a new stage where they feel so threatened by it that they have to start attacking Bitcoin.
The fact that they are being threatened by bitcoin, so it means that they see lot of potentials in bitcoin that could trigger their own currency in the long run. Admit it or not, they won't be attacking bitcoin and create black propagandas in the first place if its incapable and useless. Hearing all those similar understatements for bitcoin from different anti bitcoin countries, i think it will initiate more motivation for bitcoin to increase its community's demand and finally become mainstream in the whole universe. |
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I came across a trader today who mentioned that he hasn't stopped trading even in this period where almost everyone, trader and hodler is trying playing it safe. In our little conversation, one of the statement he used that has stuck to memory and has kept me wondering if I was making the right decision this period playing it safe and not trading was "Real traders don't care about bear or bull market, during times like this is when real traders survive", he also highlighted that a good day trading strategy can still make you profit this season.
-Do you consider this trader correct?
-Is anyone here still trading actively? if yes, what has your strategy been?
If you are a real and good trader, you will discover that there's always good opportunities in bears and bulls that can still help us generate profits, but most of the regular traders don't see it. However, it takes good strategies and exceptional skills to make it work. And it takes a lot more experience in crypto trading to be able to combat the pressures brought by the bear market. While most are losing in this bearish season and hardly survive in trading, real traders still find ways to be profitable since they know already how to attack the market. |
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I have a friend who are keep on asking me if taking loans just to buy Bitcoin is ideal thing to do so?
I understand the market is very cheap right now, and because of this I just want to share some tips especially to those newbies who are also considering the same thing.
Before you apply for a loan make sure to consider this first.
1. How much money you can afford to take the risk?
2. Is the profit enough to repay the loan, is there any guarantee?
3. Can you still repay the loan even if the market continues to drop?
4. Is your collateral enough to cover your loans?
5. Are you confident about your investment decision?
These are the common questions for myself before taking loan for the purpose of reinvesting, I know this can be a good opportunity to increase your holdings but if you don't have the funds yet, better not to rush yourself and just wait for the right moment. Taking loans is good if you are responsible enough to repay it, but if you think you can't better not to apply at all.
If you have a stable job that can repay it, then why not? However, taking loans is something that should be wisely planned because it won't just for only a month or two, but you should deal with it for even a year or two, so it's always better to plan its payment ahead so it won't create troubles on your part. Although investments is a good choice over just safekeeping your money in a bank, but it won't always guarantee profits in the end, sometimes even if you do your best with your own strategies, it still fails in the end and lose your money. But having to invest in the right choice of investments will probably create more profits than losses, and crypto investment is never an exception. |
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Some people never learn. This is not the end of the world. BTC has the capacity to grow like 50% in 1 week so people should learn that every drama is temporarily in the crypto world. Poor naysayers. Poor Peter Schiff. Such unhappy people. All the gold still doesn't make them happy. Cheers to you all happy Bitcoiners  That’s how weak hands manage their investments and resort into panic selling when everything in the market is down and bearish. With this repeating history in the market, pity are those who still take the wrong decisions and lose in the market eventually. Although the current scenario is quite bad and embrassing, but knowing everything is not bound to last long, then that’s enough for me not to panic and just buy and hold instead. |
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Oh, I didn't know cryptos are illegal in Bangladesh. I am sorry for those who live there that they break the law just by hodling or trading cryptos there... Is the punishment serious if you get caught? What's going to happen to this police officer, for example? Will it be discharge, as dimonstration suggested it might be? Can it be a big fine or even prison time? I understand it depends on the circumstances (for example, it's one thing if it's just hodling cryptos he's accused of but another if the source of funds is also illegal), but if it's only about cryptos (not potential corruption), what is likely to happen and what's legally possible?
The fact that he's a police officer and he's expected to be the first to abide the law, then his action does not justify his profession. But if you are just practical, who would not want to invest in crypto when its profits are very promising. I guess even those with higher positions in their country are also tempted to invest in crypto, its just that they are not yet discovered. Hopefully, he'll get the expected profits investing from a shitcoin, as some of them may give huge profits temporarily. |
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The country one lives, the national sport, or the most popular sport influences the type of game one would bet on. In the country where I come from, football is the most popular sport. It is, therefore, easy to see young people betting on football matches. It is widely discussed and people more knowledgeable about it than any other sports. Even though we have other sports like basketball, table tennis, and boxing young folks prefer to bet on football than on other games. Have you noticed this? Have you ever deviated from this norm? Below is a table showing some countries, and their national sports. | | | Country | | | National Sport | | | Other Important Sports | | | | | | India | | | Cricket, Ruby | | | badminton, kabaddi | | | | | | Australia | | | Cricket | | | Australian Rules Football (AFL), Rugby, Horse Racing, Netball | | | | | | Canada | | | Ice hockey, and Lacrosse | | | Football, Golf, basketball, and baseball | | | | | | France | | | Football | | | Tennis, motorsport, and cycling | | | | | | Germany | | | Football | | | Tennis, motorsport | | | | | | United States | | | American Football | | | Basketball and baseball | | | | | | Scotland | | | Golf | | | Tennis, Rugby | | | | | | Mexico | | | Charreria- similar to Rodeo | | | Association football and Boxing | | | | | | Cuba | | | Baseball | | | Boxing, Volleyball, Basketball | | |
Source: https://byjus.com/govt-exams/countries-and-their-national-games-list/ Every country has definitely its own field of specialization like the one that football is what your country is known of. Here in my country, there are a lot sports that people enjoyed but i often see young folks manage to play good in basketball. That is why if these people will play on gambling, they would likely to play on sports betting as they have an edge in basketball. |
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Isn't this good for the development of the crypto industry? And also of course the recognition of blockchain technology and the crypto industry will continue to grow. Although of course there are still many parties who will always thwart crypto to continue to grow, but in reality this is unstoppable. The world began to change. FIFA is a big institution and this will give a big influence to further introduce and develop crypto.
Everything is happening in favor of crypto. Majority may not see it but crypto is starting to build its own name in the industry and there's no way that it will still be stopped. And successful events like this will always open more opportunities for crypto to be more popular in the whole universe. A lot of people would start to discover its significance, its just that it takes some big time institutions to promote crypto so that the people will start to trust it instead. |
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Admit to Have a Gambling Problem
Once we identify that we had those signs, we must admit that we have a gambling problem so that it will be easier to process a recovery therapy. Denial won't help because it will only block all the medications needed to recover from gambling addiction. One we admit the problem, it is the best time to seek help from professionals who specialized in this kind of addiction.
How did you find these tips? Do you think it will help gambling addicts to manage their addiction? Any additional input on how manage or cure addiction is welcome.
Excellent thread covers a lot of things that haunt every gambler and that is an addiction I need not add more but emphasize that one point I quote and that admitting you have a gambling problem is the first road to curing yourself, the longer you do not admit the longer it will take for you to the road to curing yourself to gambling, everything starts with yourself with the help of your family, without being honest with yourself cure will not come. Gamblers are mostly in denial especially if they don't see the possibilities to cure it. But if they open theirselves and start trusting the people around particularly their family, their struggle to fight gambling addiction will not be as heavy like they still hide it to their selves. So self-admission is the key not to fall for worst gambling addiction. A lot of people would be willing to help, but it takes self honesty to get them treated and be healed. |
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Self exclusion can become useless for couple of reasons -
1. It all starts with oir willingness. If a gambler has a strong mind, he will be able to self exclude himself from gambling for as long as he wants. It all starts with us. Think about cigarette addiction. Unless the addicted person is willing to take action, nothing really happens.
2. There are multiple gambling websites available, including unlicensed ones. So even if someone has a strong mind to self exclude him from gambling for a specific period of time, it will be pretty easy for him to come back to gambling through another website.
Addiction can be treated through regular counseling. No measure of exclusion will work unless it is a forced one.
Self-exclusion will not be be helpful at all if the gambler itself denies his addiction and continue to gamble as if nothing is wrong with him. So definitely, it won't be a guarantee to overcome a gambling problem or an addiction itself. However, the only way not to create problem in gambling is to never gamble in the first place if you can't control yourself. Some may have the power to manage theirselves, but most of the gamblers fail on that. |
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One more worst example that we can use as a real example of gambling made him sink and lose a lot of money and undergo therapy sessions to get rid of his addiction. The more we chase our losses in gambling, the more we will actually lose money and if we don't wake up quickly from what we are doing, we could end up with him and it could even get worse. There are indeed some people who can win a lot of money from gambling, but that is rare and can be counted on the fingers and those are the people who are really lucky in gambling. We should not try to follow them because our luck will not be like theirs.
Gambling addiction is something that we can't get rid off unless we start taking the preventive measures not to fall for it more. But for us not to fall for gambling addiction and lose millions, it's better that we should not enter gambling anymore. Mickelson has been chasing his luck and even his losses that he end up losing millions without his realization. Sad to say that those huge amount of losses can be even more profitable if he managed not to lose it all in gambling. |
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According to research on online gambling behavior by GamblingAware, slot gaming is more likely to cause problem gambling than sports betting and is heavily skewed towards the most deprived area.[1]  .
Insight into Online Gambling Landscape
Carried out by the National Centre for Social Research (NatCen) in collaboration with Professor David Forrest and Professor Ian McHale from the University of Liverpool, Patterns of Play analyzed online gambling data between July 2018 and June 2019 from seven major operators and a total of 139,152 online gambling accounts across bingo, live and virtual casino games, poker, slots, and sports betting.
The research sought to provide an insight into the online gambling landscape by answering four questions related to the basic patterns of play, the patterns’ variance for different types of people, patterns’ variance among different products, and types of behavior associated with problem gambling or at-risk gambling.
The NatCen data showed that online bettors with the largest losses were men around 40 and coming from economically deprived areas, while women dominated online bingo with 62%, in slot games female participation represented around one-third of all, while in casino and poker, similar to online betting, women’s share was less than a quarter. More details about the research are here.[1] But Why are slots so addicting?In this article[2] we can read about the Psychology of Slots. This tackles that slot machines is responsible for the greatest percentage of revenues in America's gambling capital in Las Vegas. It also stated that the reason behind this success lies in our brain. Cognitive Dissonance – The Psychological Phenomenon That Helps Us Gamble.Just like how smokers disassociate from the well-known evidence that their smoking is killing them thru a psychological phenomenon called cognitive dissonance[3] Similarly, slot machines provoke cognitive dissonance amongst players. Every licensed slot machine in a land-based casino or online has a Return to Player (RTP) percentage that players can easily access.
This tells players on average, how much money they can expect to lose from every $100 spent wagering. Despite this figure proving to players that they will lose more than they win on average, people continue playing.
In much the same way that the nicotine rush of a cigarette makes the risks seem worth it, the chances of a big win help gamblers forget that they will on average, lose more than they will win. Dopamine – The Brains Reward SystemWhenever we do something that our primitive brain finds to be good or beneficial, such as eating, procreating and exercising a neurotransmitter called Dopamine is released in our brains. This chemical messenger is synonymous with pleasure and when it is released, we can often feel a sense of euphoria.[2] Here are the factors stated on the article[2] why slots machine produce a high level of dopamine in our brain. Slots videos are designed to deliver great highs[4] and waves of euphoria to players. Matching it with money rewards, huge amount of dopamine is released into the human brain. - Association of slot machines with the intense feeling of pleasure
This is the reason why continue playing slots machine even though they are losing, they keep on searching for the dopamine rush that a win can trigger - Designed to constantly offer small reward to keep players engaged
This is specifically designed to activate the reward system in our brain as we begin to associate slots with pleasure, we will likely continue playing. Interactive Controls – Increasing ControlSlot machines are designed for interactive controls. This makes us feels that we are in control of every action we make thus giving us a sense of certainty ignoring the fact that winning and losing are really uncertain. every time you push down on the ‘spin’ button on a physical slot machine or an online slot, you are taking control in a way that your brain views as positive. Each time you press the button, the visual whirlwind of colours and shapes in front of your eyes release Dopamine in your brain.
No matter how many times you push the button, the same thing will happen, the reels on the slot will spin. This simple yet effective feedback loop boosts feelings of control amongst players which encourages them to ignore the uncertainty of winning or losing and play on for longer.
Visual & Audio Cues – Making MemoriesAnother factor why slot machines is addicting is its Visual and Audio Cues. Whenever we win something, it retains in our memory because of these factors. The more winnings we got from slots, the more prominent it will be in our minds. It is because of the visual and sound effects we witnessed every time we win. Wins on a slot machine game are often followed by the sound of coins dropping from a height, flashing dollar signs on the screen and an array of flashing lights on the slot terminal. This makes a win on a slot a full-body experience that is not only intensely pleasurable and rewarding, but memorable too.
When these wins become etched on your brain, your Dopamine reward system is more likely to be activated whenever you think of slot machines. This helps to keep even the most casual of gamblers interested in slots for a long time, potentially even years after spinning the reels. Summing up on why Slots is very addictingSlot machines aren’t a trick, nor have they been designed to deceive you and appeal to your primitive brain. Rather they are enjoyable distractions designed part by intention and part by accident to engage you for as long as possible.[2] Add on: Gambling Problem Possible Solution/Avoidance:If ever you feel that you are in a borderline of being a compulsive gambler , you can refer on these list of link for ideas on how to deal with it.
Sources and references: [1] Research on Gambling Behavior Raised Red Flags around Slots[2] The Psychology of Slot Machine[3] Cognitive dissonance in tobacco smokers[4] How Video Gaming Could Improve Your Cognitive Health And Skills
A question to slots players out there, have you ever felt the uncontrollable urge to gamble after exposing yourself to slots games for a long period of time? How did you manage to keep sane after being exposed to the most addictive gambling game in the industry? If we are fond in casinos, slots games are part of it that make us keep coming back. Although i would admit that i have been addicted to it before, but now i have come to control it and already manage myself not to fall from gambling addiction. This time, i find more interest in sports betting, the reason that i have less time spending in slots games, and when i do i only see myself playing slots games just for entertainment. |
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Bitcoin has broken the all time high of 2017 and now it is around 19,000$. The worst part is that even on these level, we are not seeing any pumps and look like price may fall all the way to 10,000$ or even lower.
Once bitcoin was at 69,000$, who would have thought that bitcoin will go so low so fast ? Now what do think, where we are in terms of bitcoin cycle. I think we are already in th bear market since summer of last year and maybe the bottom/ end of bear market is near ?
I don’t think we are already at the bottom price of bitcoin since there are no even positive signs that bitcoin is now recovering. As long as the market continues to be bearish, bitcoin will always show signs of price decline which I think adds more opportunity on the people who want to enter the crypto market and invest in bitcoin. So for me, it’s not a disappointment to consider but a big opportunity to invest again. |
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When you're starting out as a gambler there are terms and jargon that have to be explained to you or you have to research for you to understand its meaning and how it applies to gambling.
In your experience how long or the Length of Time Before You Learn All These Gambling Terms Or Jargon like wage, seed, provably fair, martingale, and so on.
I would say that until now there are still some jargons that are uncertain to me so i just keep on researching and continue gambling because the more i gamble, the more i learned those terms about gambling. I think experience will definitely be your best teacher when it comes to that as researching alone can still be confusing sometimes without videos or demonstrations that will supplement your learning. Its like you will keep on learning those gambling jargons if you continue exposing yourself into gambling activities. |
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