How greedy you are ?

[bitllionaire]

You can gamble for fun without being greedy, but if you're just playing to win or make profit quickly then you'll likely spiral out of control very quickly and end up in the red losing most of your cash. I think with most vices gambling is about moderation.

The worst point is when you lose and you are in negative profit, and then you want to recover what you had at the beginning,almost always you end losing everything

[1714907150]

1714907150

[1714907150]

1714907150

[XinXan]

You can gamble for fun without being greedy, but if you're just playing to win or make profit quickly then you'll likely spiral out of control very quickly and end up in the red losing most of your cash. I think with most vices gambling is about moderation.

Depends on what gambling games, blackjack, poker, yes you can have a lot of fun there even if you lose, you can even play without money but dice? Who has fun playing dice? I have fun winning and when you lose you dont have fun anymore, 99.9% of people that play dice do it to make profit, its obvious, you wouldnt play dice without money, would you?

[damiano]

You can gamble for fun without being greedy, but if you're just playing to win or make profit quickly then you'll likely spiral out of control very quickly and end up in the red losing most of your cash. I think with most vices gambling is about moderation.

The worst point is when you lose and you are in negative profit, and then you want to recover what you had at the beginning,almost always you end losing everything

Luckily I am not a gambler per say but a trader and now and again poker player who is not greedy thankfully. The thing with what you said is true I have had a decent friend start out with a nice lump sum and start gambling on the roulette in real life, he lost and lost more before you know it he is chasing not to get his money back but to walk away with a smaller loss.

Of course that turns out to losing even more and in the end just wants enough to buy food and puffft its gone obviously my money gets given to him "for food" because of how bad I feel for him. Best thing to do is don't even try your luck just realize how lucky you are to be alive the odds are unimaginable and you should never push that luck, money is worthless after all is said and it will drive you insane.

[pooya87]

Wanted to know how greedy people actually are , I'am personally not into gambling with the real meaning to be honest
however I see a lot of my friends says "im stupid" and stuff like that , because they start earning a lot on the begining then they get greedy and lose basically all , does it happen to you ?

i have never gambled ever in my life back when i didn't know about bitcoin. with finding bitcoin i also found out about a lot of different gambling websites that i can have fun
since i don't have enough experience and haven't lost a lot so far. i think i am a little bit greedy in my gamblings,

but as they say: "greed is good "

[newcripto]

You can gamble for fun without being greedy, but if you're just playing to win or make profit quickly then you'll likely spiral out of control very quickly and end up in the red losing most of your cash. I think with most vices gambling is about moderation.

You can not gamble just for fun.The other thing when you gamble it is normal to be greedy.To be sincere when I gamble sometime I was about to win and because of my greed I remained without some nice amounts.Greed is a decease.I am gamble and I am greedy enough.

[RappelzReborn]

You can gamble for fun without being greedy, but if you're just playing to win or make profit quickly then you'll likely spiral out of control very quickly and end up in the red losing most of your cash. I think with most vices gambling is about moderation.

Now that's shocking , I don't think think people Gamble for fun but simply Gamble because they are greedy or in big need of money and .. well sometimes they simply screw things up .
The only one who gamble for fun is rich people who enjoy wasting money (a loss isn't taken as loss because he have shitload of money) (and winning is good because he can add something to his shitload of money )

[SebastianJu]

The only winners are the people that don't gamble.

Or the ones that own the casino.

Besides that... there are a number of games where you can get an advantage against the casino, bank and so. The better you play the better the outcome. Though that advantage is slim and obviously casinos dont like those persons. Often casinos only offer versions of games that dont allow that potential player edge.

[98problems]

The only winners are the people that don't gamble.

i guess more the ones who gamble with brains, the ones who stop playing while they are still in profit and dont do stupid bets

[XinXan]

The only winners are the people that don't gamble.

i guess more the ones who gamble with brains, the ones who stop playing while they are still in profit and dont do stupid bets

And who the hell does that?? And by the way there are no stupid or smart bets in dice, it doesnt matter what you bet, nothing is reaally better than anything else, you are just another gambling addict falling into the gamblers fallacy. No one goes to a casino to win a little profit and then never come back again.

[SyGambler]

I see always people talking that gambling will leads to lose
and they talk a lot about the house edge
but I don't see them talking about games like poker , where the gambling part is mixed with people's brains
Gambling could be profitable if you know what you are doing
there are many people live from gambling earnings , but they simply don't  spend their time playing roulette or slots
just gamble with an edge if u want to be a winner
and if you are doing it only for fun , then do what u want to do

[koshgel]

Most common problem in the gambling world is money management. Going all in/half of the bankroll on single games that are toss-ups at best.

This definitely plays into the hand of greed. If you only bet 1% of your bankroll on each game, you would have to lose a shit ton to go bust. Unfortunately, 99% of the gamblers don't follow this strategy.

[vendetahome]

The only winners are the people that don't gamble.

i guess more the ones who gamble with brains, the ones who stop playing while they are still in profit and dont do stupid bets

And who the hell does that?? And by the way there are no stupid or smart bets in dice, it doesnt matter what you bet, nothing is reaally better than anything else, you are just another gambling addict falling into the gamblers fallacy. No one goes to a casino to win a little profit and then never come back again.

as far as i understood he wasnt talking about dice, he was talking about gambling, and also i sometimes quit in time and dont gamble

[XinXan]

The only winners are the people that don't gamble.

i guess more the ones who gamble with brains, the ones who stop playing while they are still in profit and dont do stupid bets

And who the hell does that?? And by the way there are no stupid or smart bets in dice, it doesnt matter what you bet, nothing is reaally better than anything else, you are just another gambling addict falling into the gamblers fallacy. No one goes to a casino to win a little profit and then never come back again.

as far as i understood he wasnt talking about dice, he was talking about gambling, and also i sometimes quit in time and dont gamble

Talking about gambling? Dice is a form of gambling, he didnt specifiy but dice is gambling so my example still stands. You can make profit on sport bets? Yes you can but in order to make profit someone else has to lose, someone has to be that someone else and it doesnt really matter what type of gamble it is, no one goes to play only 1 game and leave forever.

[magicmexican]

Most common problem in the gambling world is money management. Going all in/half of the bankroll on single games that are toss-ups at best.

This definitely plays into the hand of greed. If you only bet 1% of your bankroll on each game, you would have to lose a shit ton to go bust. Unfortunately, 99% of the gamblers don't follow this strategy.

The BR management is only a 'problem' if one has the edge to be winning longterm in the first place. A typical losing gambler who is following the 1% rule would just slow down his demise.


But when someone trully has the edge, BR management becomes crucial. I've known quite a bit of "good" poker players and bettors who went broke just because they only had the knowledge and expirience, without having the mental toughness and discipline to absorb the inevitable losses.

Its a pretty tough area to get better at. Exprience helps, but in the end, some people just cant deal with the net loss and can not avoid chasing.

[dooglus]

I am greedy.  That is why I gamble for only small amounts.  If you want money gambling is about the dumbest thing you can do because if you don't stop the house will eventually win.

That's what I thought when I read the OP. If you're completely greedy and completely rational, you don't play -EV games. You do whatever maximises your expectation, and for most gambling games that means not playing them. Obviously there are a few exceptions, like countable blackjack, games with large progressive pots, games involving skill (poker, etc.) but for the vast majority of gambling games the smartest strategy for the greedy player is to walk away from them.

But when someone trully has the edge, BR management becomes crucial. I've known quite a bit of "good" poker players and bettors who went broke just because they only had the knowledge and expirience, without having the mental toughness and discipline to absorb the inevitable losses.

Its a pretty tough area to get better at. Exprience helps, but in the end, some people just cant deal with the net loss and can not avoid chasing.

Or in other words "variance is a bitch".

When Just-Dice first launched, I knew we had a 1% house edge, and was careful never to let the house risk more than 1% of its bankroll on any single bet, but still the bankroll took a hammering. After over a billion bets the site's profit was less than half of the expected 1%, and it was hard at tims to have the "toughness and discipling" to be confident in the long term outcome.

I can't imagine how much worse it would feel to be playing poker. Then you have so much more scope for self doubt to creep in. With the dice site I knew the odds were in the house's favour. Playing poker when you hit a losing streak it must be easy to start thinking "maybe I'm not as good as I thought I was; maybe I was just lucky before when I was winning" and such like.

[RappelzReborn]

The only winners are the people that don't gamble.

i guess more the ones who gamble with brains, the ones who stop playing while they are still in profit and dont do stupid bets

And who the hell does that?? And by the way there are no stupid or smart bets in dice, it doesnt matter what you bet, nothing is reaally better than anything else, you are just another gambling addict falling into the gamblers fallacy. No one goes to a casino to win a little profit and then never come back again.

as far as i understood he wasnt talking about dice, he was talking about gambling, and also i sometimes quit in time and dont gamble

As the user above me said , Dice is indded a form of Gambling mate just like Blackjack etc ...
Anyway , I just added a poll so I can follow you very well 

[LFC_Bitcoin]

I'd like to think that I play it smart, I guess the main rule in gambling is only bet what you can afford to lose.
I lost large amounts when I was younger & used to do stupid bets (fiat).
Too old for that now so I just bet for fun with small (ish) amounts.
Gambling can be like a drug so you need to stay sensible & always think before you confirm a bet.
Don't go chasing large wins, if it seems too good to be true then it probably is, sure we can all bet on a 100/1 horse but it's very unlikely to win.

[katerniko1]

Wanted to know how greedy people actually are , I'am personally not into gambling with the real meaning to be honest
however I see a lot of my friends says "im stupid" and stuff like that , because they start earning a lot on the begining then they get greedy and lose basically all , does it happen to you ?

i won alot of money and i lost most of it on some stupid greed what gets me on a winning streak. i could be rich untill now but that greed always ruin me..
well shit happens and life goes on..

[magicmexican]

Or in other words "variance is a bitch".

When Just-Dice first launched, I knew we had a 1% house edge, and was careful never to let the house risk more than 1% of its bankroll on any single bet, but still the bankroll took a hammering. After over a billion bets the site's profit was less than half of the expected 1%, and it was hard at tims to have the "toughness and discipling" to be confident in the long term outcome.

I can't imagine how much worse it would feel to be playing poker. Then you have so much more scope for self doubt to creep in. With the dice site I knew the odds were in the house's favour. Playing poker when you hit a losing streak it must be easy to start thinking "maybe I'm not as good as I thought I was; maybe I was just lucky before when I was winning" and such like.

Well, in Poker, after certain amount of experience, its quite easy to figure out if you were playing bad or running bad (and back it up with calculations).

Also, doubting your own play is actually a good thing - with the right attitude it motivates you to always work on your game and aim to become better.

Its actually much worse when someone is too arrogant to admit that his bad play caused the downswing. Quite a commong sight amongs "TV pros" - they are in delusion of being a top player, and they are "losing only because everyone else is always lucky"



But when it comes to running a dice site, there is really not much to worry about besides hacks that would nullify your edge. If i were in your position and would see a half of expected profit after a billion bets i would for sure become paranoid that there are some sort of leak in the system causing all this.

[tyz]

You need to learn to get the greedy under control. According to Warren Buffet “Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”. My gredeo