Avoid Miscalculated Risks In Gambling.

[MainIbem]

 Taking unnecessary risk in gambling is mostly done by ignorant people, or those that are newly into the system, well it's understandable because they're ignorant of the risk management of gambling, but what baffles me is seeing experts taking unnecessary risk like betting heavily on risky odds, I consider that unwise cause no matter how rich one is you don't go wasting money all in the name of taking risks. we all know that in event where winning is a 50/50 chance one is required to bet wisely right? Then I wonder why some people would bet heavily on odds above 5 points, some would even risk all their profits to make more profits. The aim of one who wants to be successful in gambling shouldn't be to waste money in the name of taking risks, it's avoiding numerous loses and spending wisely even if you want to take risks it should be calculated risks not risking all your profits to make more profits. Stick to your limits, bet on low risk odds, take profits and don't bet all your profits one very risky odds, and most importantly bet on what you can afford to lose, these are what is expected from a gambler who wants to be successful, not taking unnecessary risks.

[Odohu]

Taking unnecessary risk in gambling is mostly done by ignorant people, or those that are newly into the system, well it's understandable because they're ignorant of the risk management of gambling, but what baffles me is seeing experts taking unnecessary risk like betting heavily on risky odds, I consider that unwise cause no matter how rich one is you don't go wasting money all in the name of taking risks. we all know that in event where winning is a 50/50 chance one is required to bet wisely right?

What you call unnecessary risk and heavy amount might just be like peanut to the people you are addressing. As long as we have not seen a case of those celebrities going bankrupt because of the amount they gamble with, I will have nothing negative to say about them. Besides, most of them win low key and will never put it to the public, it is always when they lose we get to know that they actually gamble. I have also observed that some of them gamble to promote the casinos, meaning they are paid to gamble and not just wasting their money.

The only problem I see is that some people will begin to copy their style, even those who do not have the resources to do so. As gamblers, we must gamble within our limits and not allow ourselves to be influenced by what others do with their money.

[Upgrade00]

<snip>but what baffles me is seeing experts taking unnecessary risk like betting heavily on risky odds,

I've never heard "expert" being used in gambling. If you consider someone to be an expert, then you should assume they know what they are doing and should eve be taking notes from then and applying that with amounts you can afford to lose not what they staked.

Gamble responsibly.

[Gozie51]

Then I wonder why some people would bet heavily on odds above 5 points, some would even risk all their profits to make more profits.

You have a point in your post but I don't think it is about the weight or how many odds a game has but something that you consider also a 50/50 change and not 95/5 chance of winning against losing. That will be foolishness. So a gambler who wants to risk the big odd should first study and analyze the game that he wants to bet on to the effect of the chances of winning and not to just throw in money to grab the big odd, and while betting on the big odd it has to be on a single game separate from other games so that it doesn't affect other games when it fails which is the most ideal way to bet on big odds. I know that some gamblers have won with big odds but they were well researched games.

Gambling is about risk and nothing is wrong to take risk only need to take reasonable risk and not put all your bankroll on a bet because it is still 50/50 chance of success and sometimes some bet are below 50/50 .

[Frankolala]

I like the way that you put it "all your profit", since it is profit then that is not a problem as long as it is not your capital or money for other important purposes. Responsible gambling is very important because you will be cautious of how much you are staking with.

The problem is that some gamblers wants to double their money and that is why they take high risk to see if they will be lucky. One tho g about gambling is that when it is your lucky day if you bet with a huge amount of money, you will still win your bet, but who knows when is their lucky day and that is why you should only gamble with little amount to control your emotions.

[Oshosondy]

The aim of one who wants to be successful in gambling shouldn't be to waste money in the name of taking risks

No person that is gambling should think he or she can be successful in gambling. Gambling is for fun and entertainment and not a way to make money. The possible success from that but almost impossible to achieve in gamblling that some people are thinking about makes them become addicted to gambling. Some people can be successful from gambling, but not when they are gambling continuously but when they use small amount of money to win huge amount of money luckily.

[SmartGold01]

Immediately I finished reading this post what came into my mind is Drake who usually place bet with around $500k to 1M$ have you reasoned about this person does it bet with his personal funds or a kind of trying to trick people to spend such amount in gambling to bring credit to site he usually post about?  Well to me I found out that drake is well known influencer and artist who has made name already but I don't know how wealthy he is to keep gambling with such huge amount does it mean that he can keep risking such heavy amount in his game he bets or does it mean that $500k is a peanut to him while gambling because converting this money into our currency its something that could sustain a community for about 6months to 1 year before needing anything more.

Everyone who is gambling knows there worth and what they can afford to lose except for the chronic gamblers who don't really look at any amount they had used to gamble, but what they are after of is to make huge winning. Is only this people who can take such deadly risk to gamble with amount they afford to lose even if they lose it they don't care about it instead they could look for another alternatives to cover up their lost.

[Cantsay]

Stick to your limits, bet on low risk odds, take profits and don't bet all your profits one very risky odds, and most importantly bet on what you can afford to lose, these are what is expected from a gambler who wants to be successful, not taking unnecessary risks.

Even the low risk games still fails and that’s why some gamblers have turned to high odds games - to them they feel if they are able to get one correct it will cover for what they have been losing and also they’ll have some profits. There are some gamblers out there that still bet on a seven odd game while some do some parlay, they’ll just accumulate games to the extent that the total odds would be more than 2,000 - to them they feel once they hit that 2000 odds game or do partial cash out they would be able to gain back all they have lost in their previous tries and still make enough to keep them going. That’s just the logic some gamblers work with.

[MainIbem]

No person that is gambling should think he or she can be successful in gambling. Gambling is for fun and entertainment and not a way to make money. The possible success from that but almost impossible to achieve in gamblling that some people are thinking about makes them become addicted to gambling. Some people can be successful from gambling, but not when they are gambling continuously but when they use small amount of money to win huge amount of money luckily.

So because gambling is for fun and entertainment, does that mean people shouldn't worry about losing? What i expected you to say is that people shouldn't consider gambling as a major source of income, cause people still gamble for fun and make huge profits from it. Also, there are successful gamblers and my own point of view concerning a successful gambler is one who has less losing streaks, one who adhere to the risk management of gambling and avoid getting addicted or one with good strategies and has numerous wins from it. If there were no successful gamblers them what's the point of coming up with good strategies when you'll never win from it, but I put it to you that despite the fact that the house would always have the upper hand, there are people who's winning streaks are much more than times they've lost and those are the people I consider as successful gamblers, those are the people that try their very best to stick to those tips I mentioned thereby gambling responsibly and it works perfectly for them.

[danherbias07]

Bet wisely in a 50/50 chance? Hmmm, that seems impossible.

Anyway, I do agree with what you say but this kind of statement is for those who live just to gamble. Taking low risks odds because you want a sure win but it requires a heavy amount of money to feel the profits that you will get.
The high-risk method on the other hand doesn't need way too much money to make profits but it's nearly impossible to win it. Parlays. I had my share of winning loads of tickets in one parlay and the happiness it brought to me was hard to explain.
I don't need to spend much but I may win a good amount. Plus, there's the cashout button which is always ready if you want to get out so that you can keep the profits safe.

All of this depends on what kind of gambler a person is. We cannot judge those who are taking high risks, maybe they prefer it that way.

[Jating]

Taking unnecessary risk in gambling is mostly done by ignorant people, or those that are newly into the system, well it's understandable because they're ignorant of the risk management of gambling, but what baffles me is seeing experts taking unnecessary risk like betting heavily on risky odds, I consider that unwise cause no matter how rich one is you don't go wasting money all in the name of taking risks. we all know that in event where winning is a 50/50 chance one is required to bet wisely right? Then I wonder why some people would bet heavily on odds above 5 points, some would even risk all their profits to make more profits. The aim of one who wants to be successful in gambling shouldn't be to waste money in the name of taking risks, it's avoiding numerous loses and spending wisely even if you want to take risks it should be calculated risks not risking all your profits to make more profits. Stick to your limits, bet on low risk odds, take profits and don't bet all your profits one very risky odds, and most importantly bet on what you can afford to lose, these are what is expected from a gambler who wants to be successful, not taking unnecessary risks.

But isn't it the definition of gambling? You take (unnecessary) risk because you don't know what the outcome will be. If you will always like betting for the favorite or even 1.01 odds, it's not a assurance that you will always win or you have 50/50 chance.

Just read this news, Gambler Loses 1.4 million USD in a bet with lower than 1.01 odds!

Of course what you have advise like stick to the limits and gamble what you can afford is good and we have heard it many times. But sometimes, even if you are not that addicted, you will lost control of yourself. But then again, who knows, that gamble that you take might be a life changing win for you and then are times that you will have to go and test the unknown and take that big leap of faith.

[Wapfika]

I consider that unwise cause no matter how rich one is you don't go wasting money all in the name of taking risks. we all know that in event where winning is a 50/50 chance one is required to bet wisely right? Then I wonder why some people would bet heavily on odds above 5 points, some would even risk all their profits to make more profits. The aim of one who wants to be successful in gambling shouldn't be to waste money in the name of taking risks, it's avoiding numerous loses and spending wisely even if you want to take risks it should be calculated risks not risking all your profits to make more profits. Stick to your limits, bet on low risk odds, take profits and don't bet all your profits one very risky odds, and most importantly bet on what you can afford to lose, these are what is expected from a gambler who wants to be successful, not taking unnecessary risks.

Even a 1.01 odds can lose to as it’s a bet so the point is no matter what odds you choose as long as you enjoy betting on it is already good since sports betting is still a form of gambling which is dedicated for entertainment purposes only.

You can’t call a gambler that bet on higher odds as fool since it’s a part of gambling. Taking 50/50 or lower odds is not the standard for being a good gambler because it all involves risk. I believe those people that consider gambling as source of income are the one that is ignorant because you can’t keep winning on gambling despite choosing lower odds.

[Baofeng]

But we will missed all the fun and excited if we won't take the unnecessary risk that the OP is taking. And for me, I wouldn't mike going for the underdog in sports betting or looking for a good odds at multi-betting because that where the excitement lies to us gamblers.

And to see us winning and defying the odds higher that 5x and I have seen gamblers going for a parlay with 100x and winning. And that we will not have that kind of "what if" scenario that might haunt us for the rest of our natural life if we didn't go for that big risk big reward ratio.

So if you have this kind of attitude, better be not gambling at all, just saying.

[Oshosondy]

So because gambling is for fun and entertainment, does that mean people shouldn't worry about losing? What i expected you to say is that people shouldn't consider gambling as a major source of income, cause people still gamble for fun and make huge profits from it.

This is exactly what I am talking about. Gambling is not a way of making money and it should not be regarded as a way of having success. I see gambling like I am having fun with friends in a club.

Also, there are successful gamblers and my own point of view concerning a successful gambler is one who has less losing streaks, one who adhere to the risk management of gambling and avoid getting addicted or one with good strategies and has numerous wins from it.

I think this should not be the definition of success or a successful person. What you are saying is true but I prefer to discuss about avoiding losses alone than relating it to being successful. But it is possible that gambling addiction can make someone not successful and it can hinder someone to succeed. But not addicted and not wasting money on gambling dies not mean someone is successful.

[Julien_Olynpic]

we all know that in event where winning is a 50/50 chance one is required to bet wisely right?

I consider that if your upcoming event only has a 50% chance of winning, then there is no need to play the game at all. And if you still want to play such a game, then at least make sure that if you lose, you won’t lose much. You don't need to do anything complicated to do this. Just play for small amounts. After all, when you play for small amounts, you play primarily for fun. You are afraid of losing your money, but you want to have fun.

[iv4n]

The aim of one who wants to be successful in gambling shouldn't be to waste money in the name of taking risks, it's avoiding numerous loses and spending wisely even if you want to take risks it should be calculated risks not risking all your profits to make more profits...

When we gamble we take risks... you can feel safer while betting on lower odds, but there are no guarantees. And what "avoiding numerous losses" should mean? If we knew we were going to lose, we would certainly avoid that loss, but who here knows what will happen?

Taking unnecessary risk in gambling is mostly done by ignorant people...

Well, again I need to ask what it means "taking unnecessary risk in gambling"? In some games, you know the odds and possible risk/gain, but in some games, we don't know the odds... I guess buying bonus rounds while playing slots is very risky, and we really don't know what will be the result until the end.

Maybe your post is only about sports betting, but you should point that out... if you talk about gambling in general it's foolish to say that taking unnecessary risks is mostly done by ignorant people, it can just be a strategy for most players. Nobody plays Plinko to hit x1.5 or x2, we all wish the ball to go to some higher payout.

[Samlucky O]

Taking unnecessary risk in gambling is mostly done by ignorant people, or those that are newly into the system, well it's understandable because they're ignorant of the risk management of gambling, but what baffles me is seeing experts taking unnecessary risk like betting heavily on risky odds, I consider that unwise cause no matter how rich one is you don't go wasting money all in the name of taking risks.

That is true, I have come across alot of thread here that mostly talks about gambling with a huge sum of money all in the name of taking Risk, I cant advise anybody to gambles with such a huge amount of money like that, knowing true well that the money can serve for many porpos. In as much as we take risk In gambling I think we should avoid miscalculated risk in gambling as the thread implies

we all know that in event where winning is a 50/50 chance one is required to bet wisely right? Then I wonder why some people would bet heavily on odds above 5 points, some would even risk all their profits to make more profits. The aim of one who wants to be successful in gambling shouldn't be to waste money in the name of taking risks, it's avoiding numerous loses and spending wisely even if you want to take risks it should be calculated risks not risking all your profits to make more profits. Stick to your limits, bet on low risk odds, take profits and don't bet all your profits one very risky odds, and most importantly bet on what you can afford to lose, these are what is expected from a gambler who wants to be successful, not taking unnecessary risks.

I don't see the reason why a gambler will risk a huge amount like that, knowing very well that gambling win and lose is 50-50. It is indeed an unwise and unnecessary risk attempt. Though they might be pretty lucky to have double their money by playing 2 odd or 3 odd games, staking huge amount is good when people win, but when the lost comes, how to overcome the tension will be hard or it becomes very hard for people to bear the pain.

[btc_angela]

we all know that in event where winning is a 50/50 chance one is required to bet wisely right?

I consider that if your upcoming event only has a 50% chance of winning, then there is no need to play the game at all. And if you still want to play such a game, then at least make sure that if you lose, you won’t lose much. You don't need to do anything complicated to do this. Just play for small amounts. After all, when you play for small amounts, you play primarily for fun. You are afraid of losing your money, but you want to have fun.

And there's no such thing as 50/50 game in my opinion, and gambling is business, so there is house edge and the longer we play the bigger chances of losing. And even if it's sports bet, again there are favorite and then there are the underdog.

Of course, just play the money that we can afford to lose, or we should keep our senses if we did lose our bet. Because there are individuals that can't take losing and they wanted to recoup and it will just make them worse. And I don't agree with not taking risk in gambling, it's part of parcel of it, otherwise it will not be called gambling at all. Even lower odds are not a safe and guaranteed.

[Agbamoni]

Then I wonder why some people would bet heavily on odds above 5 points, some would even risk all their profits to make more profits. The aim of one who wants to be successful in gambling shouldn't be to waste money in the name of taking risks, it's avoiding numerous loses and spending wisely even if you want to take risks it should be calculated risks not risking all your profits to make more profits.

I would say it is our choice to know what's good and what's bad, what will affect us and what will not. There is a risks that we can take that will have only a little impact on us and there are some risks we would take that will affect us massively that it will be difficult for us to recover.

I think when gambling we should know the limit of risk we should take. I don't see anything wrong in taking risks, but our risk should have a maximum limit. Such that we won't put ourselves in situations that will be difficult to scale through. Going all in with our profit might lead to one using the remaining capital to gamble thinking he would win back the profit.

[o48o]

Taking unnecessary risk in gambling is mostly done by ignorant people, or those that are newly into the system, well it's understandable because they're ignorant of the risk management of gambling, but what baffles me is seeing experts taking unnecessary risk like betting heavily on risky odds, I consider that unwise cause no matter how rich one is you don't go wasting money all in the name of taking risks. we all know that in event where winning is a 50/50 chance one is required to bet wisely right? Then I wonder why some people would bet heavily on odds above 5 points, some would even risk all their profits to make more profits. The aim of one who wants to be successful in gambling shouldn't be to waste money in the name of taking risks, it's avoiding numerous loses and spending wisely even if you want to take risks it should be calculated risks not risking all your profits to make more profits. Stick to your limits, bet on low risk odds, take profits and don't bet all your profits one very risky odds, and most importantly bet on what you can afford to lose, these are what is expected from a gambler who wants to be successful, not taking unnecessary risks.

Calculated risks only apply to sports with enough knowledge under your belt, blackjack and poker tournaments. When you are talking about multipliers in sports for example, those numbers doesn't really represent ratio of winning probability.

And if you really think you will lose less because of calculated risk of winning odds in any other games, i don't think you have thought this trough. Because more games you play, those changes start to even out, because house edge or rtp is same for everyone.

If you are doing just couple big bets, then calculated odds come in handy as you know you most likely would win. But that win is only relative to your bet that you are risking, and that "risk management" at the time is your big bet that you are risking. And no matter how unlikely that risk is, it exist and can be against you several times in a row.