Taking risks responsibly.

[Julien_Olynpic]

"Taking risks responsibly" is an interesting phrase. We cannot avoid risk, and we cannot not take risks either. But excessive and stupid risk is not needed, it only brings us closer to failure. In the end, a smart player must choose a certain balance. This is how the phrase "responsible risk" is born. It may sound funny, because when you take risks, you put yourself at the mercy of the elements, you become dependent on luck. However, by adjusting many parameters of your risk, you can make it responsible. Here we can see an analogy with "responsible gaming" and a "responsible player" who knows that he is taking a risk, he does it consciously and he manages his risk as much as possible in order to reduce the risk of adverse consequences, minimize it and increase the probability of success. Do you like the phrase "responsible risk"? What meaning do you put into this concept? Is your risk responsible? How many players, in your opinion, have responsible risk?

[DubemIfedigbo001]

Responsible risk to me is taking calculated risks, that is such that would've put you or your finances or person in harmsway, so it's important that as gamblers you calculate the quantity of finances and availability you allocate to gambling.

Funny enough, taking risks in gambling is not entirely about money, what about the productive time you lay to a waste by your over involvement in gambling? It's part of the risk which should be put into consideration too.

So when gambling with a budget is raised, it cuts across finances to time spent in gambling. You've got to have a financial budget and a time budget that you'll not exceed in gambling so you'll take responsible risks or gamble in moderation.

[Strongkored]

I think responsible risk is the same as only using money that we can afford to lose.
If we can only afford to lose $200 a month then only use that, there is still a risk of losing it all but if that happens it will not affect anything, because that is the amount we can afford to lose.
But it could also be for other gamblers responsible risk is how to use the money to gamble, meaning with a small capital then will play casino games with low volatility, or when betting on sports betting set a small betting percentage to suit the budget.

[yahoo62278]

I think responsible risk is the same as only using money that we can afford to lose.
If we can only afford to lose $200 a month then only use that, there is still a risk of losing it all but if that happens it will not affect anything, because that is the amount we can afford to lose.
But it could also be for other gamblers responsible risk is how to use the money to gamble, meaning with a small capital then will play casino games with low volatility, or when betting on sports betting set a small betting percentage to suit the budget.

I think I pretty much have to agree. If a player is playing responsibly, he is losing or playing on money they can afford to lose. As far as playing low volatility games, you sorta make sense as you are likely betting a huge favorite but it can still go wrong for ya.

[Fiatless]

Do you like the phrase "responsible risk"? What meaning do you put into this concept? Is your risk responsible? How many players, in your opinion, have responsible risk?

It is even more risky not to take risks. If you don't take risks in gambling, you might never win big.

The term responsible risk sounds perfect to me. It is important in my gambling adventure.

It is gambling with the amount you can afford to lose. Furthermore, it is the act of not allowing your gambling activities to affect the financial aspect of your life negatively.

Most gamblers have realised that gambling can not give a stable income.  Hence, in my opinion, like 80% of people I know take responsible gambling risks.

[Kelward]

Responsible risk in gambling is basically using amount that you can afford to loose, gambling wins are by luck so you need to minimize the risks. We don't have any control over the outcome of our gambling results, the only thing that we have a control over is the amount that we decide to use. The higher the amount that you use for gambling the higher the risks, the lower the amount the lower the risk so we need to determine the level of risks that we're comfortable with. Gambling is not like a business where you're sure of making profit when you put money into it, there is no guarantee of wins so it's better to gamble responsibly by reducing the amount to something that you can loose.

[lovesmayfamilis]

If you don't take risks, no one will ever win. When we play in a casino, we bet an amount that we can't think is unnecessary, because we will always find a use for it. And here the question arises: what amount is important to us, but we can take a risk and try to get more? However, this amount should not affect our well-being in case of loss. How big such a sum of money will be determined as a responsible risk, if we play more boldly and spend what is very important to us, then emotions come into play, which inhibit attention and responsibility.

[viljy]

Responsible risk, in my opinion, means risking an amount of money, the amount of which is absolutely not critical for a gambler. An irresponsible risk is a gamble for an amount of money that is intended for the life expenses of a gambler and his family (for example, for food, housing, etc.). An even more irresponsible risk is the use of borrowed money for gambling.

Thus, the measure of risk liability is simply a quantitative characteristic of the amount of money that varies depending on the well-being of the gambler. Moreover, exceeding this amount due to a person's weak will, violation of self-discipline, immediately turns the risk into irresponsibility.

[mindrust]

Basically, by gambling you know you’ll lose money in the long run if you keep playing but if you keep your bets small, you can limit your losses. That’s how you play responsibly, without ruining your personal (or maybe even family) finances.

And you know what? Every once in a while you’ll win some of your bets and that will make you happy. It is exactly that feeling that makes you come back and play.

As long as you have that feeling under control, you don’t have anything to worry.

[Yaunfitda]

"Taking risks responsibly" is an interesting phrase. We cannot avoid risk, and we cannot not take risks either. But excessive and stupid risk is not needed, it only brings us closer to failure. In the end, a smart player must choose a certain balance. This is how the phrase "responsible risk" is born. It may sound funny, because when you take risks, you put yourself at the mercy of the elements, you become dependent on luck. However, by adjusting many parameters of your risk, you can make it responsible. Here we can see an analogy with "responsible gaming" and a "responsible player" who knows that he is taking a risk, he does it consciously and he manages his risk as much as possible in order to reduce the risk of adverse consequences, minimize it and increase the probability of success. Do you like the phrase "responsible risk"? What meaning do you put into this concept? Is your risk responsible? How many players, in your opinion, have responsible risk?

I think the term should be calculated risk, but in any case, it's very hard to do specially if you will have to used your brain and be logical. You really have to ask yourself, what will happen if the outcome of the risk is negative or not in your favor? And even if you take a lot of precautions along the way you still lose in the end? I don't know how many players have this kind of approach, but very hard to comprehend as all of us who gambles might have thinking this before playing, but in the end, we really don't know as we might have lose control and end up not being responsible at all.

[m2017]

"Taking risks responsibly" is an interesting phrase. We cannot avoid risk, and we cannot not take risks either. But excessive and stupid risk is not needed, it only brings us closer to failure. In the end, a smart player must choose a certain balance. This is how the phrase "responsible risk" is born. It may sound funny, because when you take risks, you put yourself at the mercy of the elements, you become dependent on luck. However, by adjusting many parameters of your risk, you can make it responsible. Here we can see an analogy with "responsible gaming" and a "responsible player" who knows that he is taking a risk, he does it consciously and he manages his risk as much as possible in order to reduce the risk of adverse consequences, minimize it and increase the probability of success. Do you like the phrase "responsible risk"? What meaning do you put into this concept? Is your risk responsible? How many players, in your opinion, have responsible risk?

I suppose that risk can't be responsible. There is either risk or there is no risk. Borderline states are impossible. How can risk be responsible if the gambler can't influence the risk at all? They can't reduce it, can they? The level of risk always remains constant, based on the RTP.

I consider "responsible risk" to be something ephemeral and abstract, something that can't exist in principle in gambling, but its "existence" is possible only because of the gamblers' belief in it. Almost like the belief in aliens or ghosts the ability to influence luck (with a rabbit's foot).

[Davidvictorson]

Do you like the phrase "responsible risk"? What meaning do you put into this concept? Is your risk responsible? How many players, in your opinion, have responsible risk?

Is there a difference between a responsible risk and a calculated risk or is it just about semantics? Because I feel here that if you take a calculator risk you are already irresponsible gambler. A calculated risk is one where in you have done your analysis and you have estimated what the outcome would look like and you take the risk based on that your analysis. Also there are people I know who just take risk without any calculations but it is not like an irresponsible risk or a non-calculated risk but it's just something in between. I don't even know how to classify them.

[Outhue]

Gambling, something I always expect to go wrong, my mind is always fixed on the fact that I will lose money, even I question it when I win unexpectedly, gambling is there to take your money, this is why I can never use money that I am not ready to lose.

I don't feel pity for gamblers you lost everything, I am a type that trades my sweat for money, I believe in skills in exchange for money than playing some games with your hard earned money that could go wrong because I offered nothing but want to make money.

It's fun when playing games, and that's it, the difference from playing a console or pc game vs casino games is one reward you for having fun (only if you want it to be this way) and the other is just based on fun only, though you need to buy the game and enjoy.

If web3 games work out well some day it might be hard to be a gambler then..

[laijsica]

Even if we are not familiar with the phrase responsible risk in gambling, experienced gamblers do this and they tempt themselves to take risks in order to win. We are very familiar with the phrase risk and we use it mostly for recommendations and advice. This phrase you have given can be a balance for our awareness in gambling and in terms of responsible behavior and patience in the game. I think it will not be funny at all and will make gamblers more aware and can reduce the tendency to easily lose their money to a great extent.

I think most gamblers try to involve themselves in responsible gambling but because of the high loss rate, they cannot plan their strategy according to plan. When I was a new gambler I gambled with small amounts of money and unfortunately losing became a habit so I was addicted to playing more to get back the money that I lost.

Responsible gambling and responsible risk are particularly good habits for gamblers, which allow them to be fair in allocating money to gambling and remain positive about winning while minimizing losses.

[BitGoba]

Yes, “responsible risk” makes sense to me. It’s not about avoiding risk completely, but about knowing what you’re getting into and setting clear limits. I try to keep my risk responsible by staying aware of how much I can afford to lose and not letting emotions take over. Honestly, I think most players don’t really manage their risk  they just go with the flow and hope for the best.

[Dave1]

Do you like the phrase "responsible risk"? What meaning do you put into this concept? Is your risk responsible? How many players, in your opinion, have responsible risk?

Is there a difference between a responsible risk and a calculated risk or is it just about semantics? Because I feel here that if you take a calculator risk you are already irresponsible gambler. A calculated risk is one where in you have done your analysis and you have estimated what the outcome would look like and you take the risk based on that your analysis. Also there are people I know who just take risk without any calculations but it is not like an irresponsible risk or a non-calculated risk but it's just something in between. I don't even know how to classify them.

Good question, I think it's just the same as least from what I understand, so it's just for the semantics. So in any case, we might have considered everything, from our analysis to our decision. And we could also add that many gamblers might not see, we should accept that everything will not go on our favor, lot of uncertainty.

So we really need to be responsible, learn from our experience. This is base on my personal experience, there are times that when I gamble and I'm losing, I will feel that I have to stop and not force the issue as I might lose more. So for me that is responsible gambling, stop early.

[Fivestar4everMVP]

"Taking risks responsibly" is an interesting phrase. We cannot avoid risk, and we cannot not take risks either. But excessive and stupid risk is not needed, it only brings us closer to failure. In the end, a smart player must choose a certain balance. This is how the phrase "responsible risk" is born. It may sound funny, because when you take risks, you put yourself at the mercy of the elements, you become dependent on luck. However, by adjusting many parameters of your risk, you can make it responsible. Here we can see an analogy with "responsible gaming" and a "responsible player" who knows that he is taking a risk, he does it consciously and he manages his risk as much as possible in order to reduce the risk of adverse consequences, minimize it and increase the probability of success. Do you like the phrase "responsible risk"? What meaning do you put into this concept? Is your risk responsible? How many players, in your opinion, have responsible risk?

I know nothing about how many players have responsible risk, but one thing I know and am very sure of is the fact that I myself is a responsible risk taker.
You see, one thing many of us are not understanding is that whether we like it or not, we all are taking one form of risk or the other either consciously or sub-consciously, being alive alone is a risk for we know not when we will die, we all go to bed and sleep off every day without knowing whether or not we will wake up the next day, and even though we have seen alot of people die through this way, we are still not afraid to go to bed and sleep.

So, risk is very important because without it, we are basically not alive, but then on the other hand, there is responsible and unresponsible risk, some would say careless risk, and one thing I've learnt is that, the more risky a risk is, the higher it's reward, but one most important thing is that, we should always make sure we are prepared for the outcome of whatever level or degree of risk we are about taking.

[Smartprofit]

In my opinion, it is difficult to understand what a "responsible risk" is without resorting to mathematical probability theory.

In life, risks are quite difficult to assess, since there is a possibility of losing not only money, but also health, time, reputation, and even life itself. In gambling, everything is simpler - a player, as a rule, can only lose money. Accordingly, risks (in this situation) can be assessed using mathematical probability theory.

When placing a bet, a player can lose a certain amount of money (with some probability), or he can win a certain amount of money (also with some probability). Having made such a calculation, the player shows that his risk is a "responsible risk".

To do this, it is enough to make sure that the probability of winning 1 dollar in his case is higher than the probability of losing this 1 US dollar.

[swogerino]

"Taking risks responsibly" is an interesting phrase. We cannot avoid risk, and we cannot not take risks either. But excessive and stupid risk is not needed, it only brings us closer to failure. In the end, a smart player must choose a certain balance. This is how the phrase "responsible risk" is born. It may sound funny, because when you take risks, you put yourself at the mercy of the elements, you become dependent on luck. However, by adjusting many parameters of your risk, you can make it responsible. Here we can see an analogy with "responsible gaming" and a "responsible player" who knows that he is taking a risk, he does it consciously and he manages his risk as much as possible in order to reduce the risk of adverse consequences, minimize it and increase the probability of success. Do you like the phrase "responsible risk"? What meaning do you put into this concept? Is your risk responsible? How many players, in your opinion, have responsible risk?

Risk I think is difficult to make it responsible as they are two different things, in fact when people are taking risks they know what they are doing, like in trading or investing where even people that don't gamble say the bigger the risk the higher the reward. Based on this I don't think we can put to frame phrases like responsible risk, like you said those who play responsibly have lower risk and those who don't have higher risk to lose more money. In the end it all boils down to money management based on my opinion, the braver you are at managing your money the more "responsible risk" becomes.

[cryptomaniac_xxx]

I think responsible risk is the same as only using money that we can afford to lose.
If we can only afford to lose $200 a month then only use that, there is still a risk of losing it all but if that happens it will not affect anything, because that is the amount we can afford to lose.
But it could also be for other gamblers responsible risk is how to use the money to gamble, meaning with a small capital then will play casino games with low volatility, or when betting on sports betting set a small betting percentage to suit the budget.

The latter though is what a strategy is and not more of a calculated risk. But I do agree with your first definition that we should "gamble the money that we can afford to lose". And so even if we lose then nothing will be affected. We can wake up in the morning and not being traumatized by the money that we have lost the night before. And then maybe stop for a while, who knows.

With that, a gambler that uses calculated risk is more of a thinking gambler, a intelligent one. He knows what is at stakes and could make his bold decision to bet big or not stay away. This is in contrary of what we call YOLO gamblers.