Smart or greedy gamblers

[Lidger]

When it comes to gambling we see several types of gamblers. There are some gamblers who gamble without having enough knowledge about the game of gambling and there are some gamblers who have high expectations in gambling and there is a class of gamblers who are never satisfied with a small profit rather they win more and always expect to win something big. Those who gamble without understanding the game of gambling have very few results. And those who set their expectations too high and spend their entire time gambling may eventually realize that their plan was wrong. Again those who are excessively greedy may gain some amount of money but later lose all the money due to their excessive greed. 
In gambling every gambler should know about gambling and should gamble within certain limits and refrain from excessive greed. When gamblers can do these things very well then gamblers will be successful in gambling.

[Zigabel]

Interestingly this happens to be the reality of gambling sometimes but it still doesn’t mean either ways sometime of this doesn't happen,  it's just the reality twist. I feel it's only best not to conclude on gamblers just yet when we see situations as this arise because many at times it may be far from what we think  as a gambler doesn’t have to be addicted for them to keep holding unto a bet for long neither is a gambler who won a better or strategic gambler,  greed is one attribute almost every gambler possess but the level of control over it or the greed level in various gamblers makes the difference so I don't  use the cash out scenario as enough to judge them or conclude on them the kind of gambler ones is.

[bitbollo]

its a well known effect the psychology while betting. bookmakers and casinos know very well these processes and they try all the time to exploit.
even with bonuses and promotion... these are all designed to make people playing more and circumvent their judgement.

but this is pretty normal probably in any industry. take clothing industry. not to mention big brand names, but even the ones for "normal" people each year HAVE to create a new product with a revised logo and so on. Maybe some people will just not buy anything ... others will get completely crazy for the "new product" (even if the "new" part is just a new logo...)

[hahay]

But, there are times when cashing out early is better when the outcome of the game is a complete loss. So, in this case I don't think there are greedy or smart gamblers, because cashing out early is still part of the strategy and if they do it right, then the strategy works. After all, when cashing out then of course the result will always be lower, but if the result is really a loss then cashing out faster is also a good way to reduce losses. But yes, if they can accept losing, then of course it would be better every time they bet then let the bet run until the final result is obtained, because then it might be assumed that the player is a real bettor by prioritizing his luck.

[Promocodeudo]

Just as the topic says, there are times where we tend to make wrong judgment in gambling  based on the outcome of the game. Take for instance, if a gambler has the opportunity to cash out from his bet which is eventually higher than his staked amount and he refuses to cash out, if the game  end up in loss and he tells the story, its very easy to term him a greedy gambler. But if another gambler is presented with thesame opportunity and decides to hold on until the game end and he eventually wins the game, we tend to see such person as smart to not give up. Lol it funny how we make judgment. This is also how we think of addicted gambler who is lucky to win some huge amout as strategic gambler meanwhile another gambler who is not lucky enough to experience a good win we term them as addicted gamblers.

Gambling sometimes is very confusing that's the reason why we must gamble without greed, some gamblers dont feel bad when they cash out there games and may be the bet later play, this is because they understand the importance of not being too greedy in things involving gambling, as a matter of fact, when it comes to things involving gambling though there are times you don't need to be in a haste to take decision especially when it comes to this cashout of a thing but once you decide to cash out don't hesitate to do so because in most cases bet like this end up losing and we know what follows in situations  like this, I have been faced with some people showing me there cash out and advise from me on whether to cash out and my answer has been, do what your instinct tells you because i don't want any blame or someone saying am they one that told them to cash out, some people don't like taking full responsibility on their own.
As for addiction, we already know what it is and what leads to it that's why a gambler who loses often and keep trying to recover may be seen as an addicted gambler or a gambler heading towards being addicted.

[Smartprofit]

The famous writer and philosopher Nassim Taleb has a book called "Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets".

In this book, Nassim Taleb examines various situations in which people see patterns, meanwhile, we are talking about a completely random event.

The problem is that in the process of biological evolution, people have not learned to correctly assess the probabilities of different events. They do not know how to do this intuitively. In order to correctly assess the probability of a particular event, people need to additionally study the mathematical theory of probability and make the appropriate mathematical calculations.

Nassim Taleb in his book examines various concepts, including the so-called "survivorship bias".

This is exactly the situation when a million people lost all their money gambling, and one person hit the jackpot. All the media told the story of this lucky person and people got the impression that any person has a good chance of winning a large sum of money gambling. But this is not so ...

People have many such cognitive distortions, to avoid them, you need common sense. It is also necessary to study the mathematical theory of probability.

[wheelz1200]

Just as the topic says, there are times where we tend to make wrong judgment in gambling  based on the outcome of the game. Take for instance, if a gambler has the opportunity to cash out from his bet which is eventually higher than his staked amount and he refuses to cash out, if the game  end up in loss and he tells the story, its very easy to term him a greedy gambler. But if another gambler is presented with thesame opportunity and decides to hold on until the game end and he eventually wins the game, we tend to see such person as smart to not give up. Lol it funny how we make judgment. This is also how we think of addicted gambler who is lucky to win some huge amout as strategic gambler meanwhile another gambler who is not lucky enough to experience a good win we term them as addicted gamblers.

This is mainly why the house usually has the ultimate advantage.  Takes the emotion of winning and losing (on top of the odds).  Some people temd to chase losses based on pure emotion.  Thats why i gamble for entertainment value.  I dont expect to win but its nice when i do.  Takes the emotion and greed out of the decision making.

[stomachgrowls]

Just as the topic says, there are times where we tend to make wrong judgment in gambling  based on the outcome of the game. Take for instance, if a gambler has the opportunity to cash out from his bet which is eventually higher than his staked amount and he refuses to cash out, if the game  end up in loss and he tells the story, its very easy to term him a greedy gambler. But if another gambler is presented with thesame opportunity and decides to hold on until the game end and he eventually wins the game, we tend to see such person as smart to not give up. Lol it funny how we make judgment. This is also how we think of addicted gambler who is lucky to win some huge amout as strategic gambler meanwhile another gambler who is not lucky enough to experience a good win we term them as addicted gamblers.

Gambling sometimes is very confusing that's the reason why we must gamble without greed, some gamblers dont feel bad when they cash out there games and may be the bet later play, this is because they understand the importance of not being too greedy in things involving gambling, as a matter of fact, when it comes to things involving gambling though there are times you don't need to be in a haste to take decision especially when it comes to this cashout of a thing but once you decide to cash out don't hesitate to do so because in most cases bet like this end up losing and we know what follows in situations  like this, I have been faced with some people showing me there cash out and advise from me on whether to cash out and my answer has been, do what your instinct tells you because i don't want any blame or someone saying am they one that told them to cash out, some people don't like taking full responsibility on their own.
As for addiction, we already know what it is and what leads to it that's why a gambler who loses often and keep trying to recover may be seen as an addicted gambler or a gambler heading towards being addicted.

Easy to say but it would really be that hard to do since we are just that human beings on which there's always that feeling or emotion that you would really be having that kind of feeling on pushing up yourself to play even more because you've been believing that you can be able to make even more money and even if there's that hesitance on which you would really be that still pursuing on trying out to achieve something because you've been that expecting that you can be able to do it without any issues, but on the time that luck isnt on your side then you would really be trying out to have those kind of regrets in the end on which you've been that trying out to reasses on what happened and on next time then you will be wary into the actions that you are taking. You are just that basically be the ones will really be able to direct yourself on which one is better or good.

If you do gamble then you should be smart on taking up profits on which i should say that this is the time or moment that you do find yourself made out some right decisions in your gambling activity. We do know that at the time that you've been doing gambling then it cant be avoided that you would really be that greedy all the time. There are those moments or  times on which you will be able to realize that profit taking will really be that relevant or soemthing that you must do. Taking out or ensuring profits and calling it a day is something that shows off on how good a gambler is when it comes to self control.

[suzanne5223]

Just as the topic says, there are times where we tend to make wrong judgment in gambling  based on the outcome of the game. Take for instance, if a gambler has the opportunity to cash out from his bet which is eventually higher than his staked amount and he refuses to cash out, if the game  end up in loss and he tells the story, its very easy to term him a greedy gambler. But if another gambler is presented with thesame opportunity and decides to hold on until the game end and he eventually wins the game, we tend to see such person as smart to not give up. Lol it funny how we make judgment. This is also how we think of addicted gambler who is lucky to win some huge amout as strategic gambler meanwhile another gambler who is not lucky enough to experience a good win we term them as addicted gamblers.

I have to agree with you in the area of the judgement we did to some gamblers who are gambling addicted. However, I believe we made the judgement based on some gamblers who naively made the wrong decision and those that don't understand the concept of the game.
Meawhile, this is quite different from a gambler that bet on a game, which was later giving the chance to cashout before the end, and s/he choose to cashout and the game end in a loss.
I personally wont blame the gamblers because s/he technically trust in his/her self and there's nothing wrong with that.

[Dailyscript]

But, there are times when cashing out early is better when the outcome of the game is a complete loss. So, in this case I don't think there are greedy or smart gamblers, because cashing out early is still part of the strategy and if they do it right, then the strategy works. After all, when cashing out then of course the result will always be lower, but if the result is really a loss then cashing out faster is also a good way to reduce losses. But yes, if they can accept losing, then of course it would be better every time they bet then let the bet run until the final result is obtained, because then it might be assumed that the player is a real bettor by prioritizing his luck.

That is right. The terms greedy gambler and smart gambler do not imply the decision a gambler is making on his game. It is other persons who classify a gambler as either greedy or smart. But everyone has the right to gamble how they want. Suppose they want to leave their bet to keep going on till the game ends. That is their choice. No one is in the right position to judge a gambler, in my opinion.

[Reatim]

But, there are times when cashing out early is better when the outcome of the game is a complete loss. So, in this case I don't think there are greedy or smart gamblers, because cashing out early is still part of the strategy and if they do it right, then the strategy works.

i guess you could say that there are just lucky gamblers because sometimes you make a decision based on nothing but a hunch when you are offered a cash out option, the actual end result of the match is uncertain it could go in your favor and you win the maximum possible money or you lose and you end up walking away with nothing at all

even if people say that sometimes analytical skills are important in gambling, luck can still sway the wind

[Furious 7]

its a well known effect the psychology while betting. bookmakers and casinos know very well these processes and they try all the time to exploit.
even with bonuses and promotion... these are all designed to make people playing more and circumvent their judgement.

I agree with this because in the end when we are in the game for gambling sometimes it does not only refer to courage alone in betting but our mental and psychological are really tested because after all for the bookie this is a business that is indeed profitable so they will arrange anything from all means including damaging the mentality and psychology of players so that they become a little difficult to make choices that make the bookie always stand alone for victory.

By looking at this condition, actually for a gambler we actually seem to be playing with good conditions but on several occasions we are actually only an object for the bookie in trying to find new schemes to make his gambling more profitable without making the game unfair because after all, we are currently aware that luck always exists but on the other hand gambling is still gambling where we will definitely lose sooner or later.

[CroverNo01]

That is right. The terms greedy gambler and smart gambler do not imply the decision a gambler is making on his game. It is other persons who classify a gambler as either greedy or smart. But everyone has the right to gamble how they want. Suppose they want to leave their bet to keep going on till the game ends. That is their choice. No one is in the right position to judge a gambler, in my opinion.

We gamble for what reason? Making extra change is mainly why we're anticipating in gambling activities. Some of us gets so lucky in the space while some of us don't figure out a spectacular angle. Smart or been greedy gambler, who do you choose? A gambler have response to give when he's been ask about been either a smart or greedy gambler. The smart ones always have a way of making out alive, they indulged in gambling and find out escaping routes, they're satisfied with a little amount of profits and they easily move on. While greedy gambler are here to accumulate everything, been greedy can actually make them lose majorly in the system.

[Findingnemo]

Just as the topic says, there are times where we tend to make wrong judgment in gambling  based on the outcome of the game. Take for instance, if a gambler has the opportunity to cash out from his bet which is eventually higher than his staked amount and he refuses to cash out, if the game  end up in loss and he tells the story, its very easy to term him a greedy gambler. But if another gambler is presented with thesame opportunity and decides to hold on until the game end and he eventually wins the game, we tend to see such person as smart to not give up. Lol it funny how we make judgment. This is also how we think of addicted gambler who is lucky to win some huge amout as strategic gambler meanwhile another gambler who is not lucky enough to experience a good win we term them as addicted gamblers.

People judge based on the results not the action so even if the two things are the same and get different treatment then there is something wrong with them. But does it really matter?

I will never go and express myself about my betting activities to anyone and being in that way is better cause telling others about will always bad, if we lost they blame and make us stress and if we won they get jealous and start cursing.

[slapper]

Labels are weird. One man refuses to cashing out and lose = "greedy". Another man acts in the same manner and wins = "smart". But did they choose different decisions? NO. Their findings were different. People despise randomness, hence so modify the narrative long after. Gamers thus believe in lucky numbers, hot streaks, and "I just knew it was gonna hit". Though it feels real, none of it is real

A strategic gambler understands the game, not someone who wins. They control risk, they are not emotionally attached to results, they recognize the chances. The most gamblers seek highs, run away from reality, and tell themselves anything will help them feel better. Addiction begins here, not from losing but from need for gambling to mean something

[tvplus006]

But, there are times when cashing out early is better when the outcome of the game is a complete loss...

Of course, it's better to make a small profit than to lose your money. But the problem is that you haven't lost your money yet, and you're closer than ever to winning, which is exactly what you're playing for. Therefore, it makes no sense to give up the jackpot, which is incomparable with what you will receive when you cash out your bet.

[uneng]

I believe a gambler who wins, even though he should be cashing out, shouldn't be considered smart at all, but just lucky. Smart is an adjective to walk side by side with responsible, so it's always a smart idea to cashout funds when the gambler is running out of money, or when he has already accumulated a decent bankroll for the day.

It's a natural tendency to project ourselves in lucky gamblers who had hit the jackpot, chased losses and recovered all their money in the end, and so on... However, we have to be aware those situations happen hardly ever and only to a minority of the total number of gamblers. Moreover, we never know how much they had to sacrifice to reach that point, or how many opportunities they wasted along the way.

And after all, there isn't any guarantee those "smart" gamblers you mentioned will put the prize into good use, in a sustainable and rewarding way. So, think twice before considering them to be really smart. I prefer to consider them just lucky.

[Su-asa]

Just as the topic says, there are times where we tend to make wrong judgment in gambling  based on the outcome of the game. Take for instance, if a gambler has the opportunity to cash out from his bet which is eventually higher than his staked amount and he refuses to cash out, if the game  end up in loss and he tells the story, its very easy to term him a greedy gambler. But if another gambler is presented with thesame opportunity and decides to hold on until the game end and he eventually wins the game, we tend to see such person as smart to not give up. Lol it funny how we make judgment. This is also how we think of addicted gambler who is lucky to win some huge amout as strategic gambler meanwhile another gambler who is not lucky enough to experience a good win we term them as addicted gamblers.

We do say it's luck and congratulates the gamblers if he wins but do not do the same to a gambler that have lost his bet because his not lucky. However the difference between addicted gamble and a responsible gamble is the patterns of gambling. A responsible gambler gamble responsibly but addicted gambler gamble reckless. But the both of them often get winning sometimes when they are lucky.

[Dewi Aries]

Hmm wait, I see them as lucky and unlucky gamblers regardless of the greed issue, it is a fact that we never know what will happen at the end of the game and in the scenario of the second person you mentioned who managed to cash out his winnings I think there is certainly a possibility for him to eventually suffer the same fate as the first person who lost all his winnings if for example at that time he was too late to cash out and preferred to continue the game.

On the other hand in the context of perspective of course everyone has different assessments of the behavior and actions taken by others and in the scenario of the two people you mentioned above I think the gambler who eventually lost his winnings again can clearly be called a greedy and problematic gambler because he preferred to continue the game instead of cashing out after successfully achieving the win.

But on the other hand, I also cannot be sure that my assumption is correct because if, for example, the gambler prefers to continue playing after winning with the aim of seeking more pleasure and not to increase the amount of winnings, then in my opinion it cannot be called greed, meaning that we must first know what the person's goal is in continuing the game after winning if we want to know whether he is greedy or not.

[2Pizza410000BTC]

Just as the topic says, there are times where we tend to make wrong judgment in gambling  based on the outcome of the game. Take for instance, if a gambler has the opportunity to cash out from his bet which is eventually higher than his staked amount and he refuses to cash out, if the game  end up in loss and he tells the story, its very easy to term him a greedy gambler. But if another gambler is presented with thesame opportunity and decides to hold on until the game end and he eventually wins the game, we tend to see such person as smart to not give up. Lol it funny how we make judgment. This is also how we think of addicted gambler who is lucky to win some huge amout as strategic gambler meanwhile another gambler who is not lucky enough to experience a good win we term them as addicted gamblers.

Actually, it is normal to happen in gambling, especially when I have a bet, every match I win, I find that I can withdraw more money than my bet amount before the match ends, but I am not greedy there. I wait until the match ends because there is entertainment in waiting. Since I have participated in gambling and bet for entertainment, waiting until the final result of the match seems more entertaining to me. Many people can withdraw money in advance, it is a personal matter for each person. And if I ever lose a bet despite having such an opportunity, I never regret it because I have participated in gambling for entertainment, why would I regret it there and even if I regret it, I can adapt myself very quickly.