Being a gambler could actually help you succeed in running a business…

[romeitaly]

I am not a successful business owner yet and I am just a slight gambler, but for me maybe gambling and business is like an Identical twin, almost the same in looks but has different characters or personality. They just both require risk taking abilities and how you handle loss, but they are very different in a deeper aspects. Since running a business is a choice and a controlled risk, while gambling is based on chance and luck. Well risk taking is a tool to become successful but at the end of the day it will be based on how you will control yourself in handling your business, gambling activities and how you will apply your skills to become successful.  

[Kelward]

Gambling can help you succeed in business if you're a responsible gambler, you don't expect an addicted gambler to be successful in business. Although gambling risk is different from business risks, what they both have in common is risk in general term. Gambling risk is about taking chances and mainly depending on luck to succeed or win while business risk if well planned is certain to give you profit. If you take calculated risks in business you will be sure of making profit but there's no calculated risks that can guarantee wins. In gambling you can only minimize your risks by using small amounts to gamble, that is only where you have a total control.

[qwertyup23]

I was just thinking about this because gambling is all about taking risks, where nothing is guaranteed and we don’t even know if we’ll win. so in a way, gamblers are natural risk-takers, and when someone starts a business, they also need that mindset which is taking calculated risks, making bold decisions, and having the guts to push through uncertainty.

So I’m curious, do we have any successful business owners here who could say that their experience as a gambler somehow helped them succeed in business?

Being a gambler does not automatically guarantee a successful business in the process.

For sure, having the attitude of being a "risk-taker" is one of the factors that can make a business successful. But you also need to know that there are various components that make a successful business, which is outside the sphere of gambling.

I am not a successful business owner yet and I am just a slight gambler, but for me maybe gambling and business is like an Identical twin, almost the same in looks but has different characters or personality. They just both require risk taking abilities and how you handle loss, but they are very different in a deeper aspects. Since running a business is a choice and a controlled risk, while gambling is based on chance and luck. Well risk taking is a tool to become successful but at the end of the day it will be based on how you will control yourself in handling your business, gambling activities and how you will apply your skills to become successful. 

You make a valid point here.

While I do agree that some elements of gambling can have an effect of being successful in business, I do submit that there are also other factors that still need to be determined and considered. Even if a person has all the necessary qualities of being an excellent businessman, there are just some factors that are outside of our control.

[Tonimez]

Being a gambler has some business benefits that not many people who started off a business would easily have. A gambler is someone who believes in taking risks and has been through several risks and losses and also wins. When starting a new business, someone needs to understand that you have to take chances and risk so many times. Most businesses today are stunted because the owners refused to take some calculated risk at some point. A gambler believes that he either wins or loose and has no time to waste to invest in whatever business opportunity he feels is promising.

But Gambling alone does not guarantee business success as a person also needs to understand the business he is about to start or is doing, the seasons and the rules. He has to understand customer cares and customer which would also help to sustain his business.

A gambler also knows how to diversify his resources simultaneously to make a cumulative gain.

[knowngunman]

I was just thinking about this because gambling is all about taking risks, where nothing is guaranteed and we don’t even know if we’ll win. so in a way, gamblers are natural risk-takers, and when someone starts a business, they also need that mindset which is taking calculated risks, making bold decisions, and having the guts to push through uncertainty.

So I’m curious, do we have any successful business owners here who could say that their experience as a gambler somehow helped them succeed in business?

If you enter into any business with gambling mindset, you'll regret it sooner than expected. Of course, there is risk involved in both but they're actually not the same class of risk. You gamble for a short time and of course with insignificant amount but business is never like that. You plan business with the hope of sustaining it for a long time and invest a reasonable amount if there's a means. Hence, you don't approach business with same mindset you approach gambling with. The only calculated risk you can take in gambling is using the amount you can afford to lose but you need a proper planning to execute a business and you don't just take decisions based on luck as if you're placing a bet.

[EluguHcman]

so in a way, gamblers are natural risk-takers, and when someone starts a business, they also need that mindset which is taking calculated risks, making bold decisions, and having the guts to push through uncertainty.

So here we are discussing basically the risk factor in gambling and that of business, right?
Cool! What I understand in-between are different risks which that of business is factorized on making profits which is worth investing even with what we can not afford to loose because in business, you have to meet up with the financial obligations regardless of the nature of the business which means even if we can not provide the capital, we can appeal for loans and with a very good industrialization and good management, we can be able to exploit successfully in the long run.
The risk there is the capital which as a business person have to put in consideration in case of lose.

In gambling, is the similar risk worth taking? I guess not because gambling is literally associated with entertainment and a 100% uncertainty which you basically have to rely on luck to be successful and your duration of success might not really last for the long term like that of business. So to me, there is a breach in-between to say the risks in gambling can be applicable in business.

[Maslate]

Maybe learning how to gamble gives you a bit of an edge in running a business, but you don’t need to be a gambler to succeed. What you really need is the willingness to take risks, which is something gamblers naturally have. The difference is, in business, you can’t rely on luck, it has to be based on strategy, planning, and making calculated moves, otherwise, it’s no different from blind betting.

[Free Market Capitalist]

Maybe learning how to gamble gives you a bit of an edge in running a business, but you don’t need to be a gambler to succeed. What you really need is the willingness to take risks, which is something gamblers naturally have. The difference is, in business, you can’t rely on luck, it has to be based on strategy, planning, and making calculated moves, otherwise, it’s no different from blind betting.

As is often the case in these threads, the OP has considered “gambling” as a whole, without distinguishing between casino games and skill games. What you say is very true when it comes to skill games and the small percentage of people who make money from them in the long run. I don't see how playing roulette can help you in business, but I do see parallels between successful sports bettors or poker players and business. In fact, many start businesses after achieving success in these disciplines.

[iv4n]

We all learn as we live... we learn by watching others, and even more so when we try to do something ourselves. It's the same with gambling... when you gamble you learn a thing or two, something good & bad. How you apply that knowledge later is another matter, mostly at a given moment decisions are made based on all the important factors and everything you have learned up to that point. And there's always something we don't know, something new to learn...

We are all gamblers... we gamble every day. This is because most people want "more"... and to get to "more" we have to sacrifice ourselves in many ways, to invest ourselves and what we have in order to achieve our desires.

[TopTort777]

So I’m curious, do we have any successful business owners here who could say that their experience as a gambler somehow helped them succeed in business?

There is a famous story how FedEx owner took last money of a company, went gambling, won and saved company from bankruptcy. You can read about it here and we had topic here.

But I dont think that gambling actually help to run a business. If employer loves to gamble, that might be stressful for employees. Nobody knows what will do with their salaries company owner next month Even if he take a risk and win, he wont share Imho it should be opposite, that a successful business can allow its owner to gamble, than gambling would make business successful. Gambling and business dont share same risk. One risk can be predicted, calculated, other is unpredictable and random.

[mindrust]

True. Especially if you are not a degenerate gambler but a guy who plays to have fun. It will boost your morale, make you feel good and then you’ll be more productive as a result. You’ll make less wrong decisions because you won’t feel stressed.

You’ll also have a better understanding of mathematics and you can’t be a good business owner unless you are good at math. You’ll understand probability calculations better and that’s essential when running a business.

[purple_sparkles]

True. Especially if you are not a degenerate gambler but a guy who plays to have fun. It will boost your morale, make you feel good and then you’ll be more productive as a result. You’ll make less wrong decisions because you won’t feel stressed.

You’ll also have a better understanding of mathematics and you can’t be a good business owner unless you are good at math. You’ll understand probability calculations better and that’s essential when running a business.

Businessmen are essentially the same gamblers, they just bet not on the game but on their projects. And depending on how well they analyzed their bet, their profit depends, whether they took into account all the possible risks. The only thing, of course, is that not every player can be a businessman, in addition to analysis, strong-willed character traits and skills for running a business are also necessary, in order to run a successful business, more effort is required to make the “bet play out.”

[Iroh]

No. I do not think being a gambler could actually help one succeed in running a business. It could give one the urge and balls for taking risks but it can't really help you have and manage a successful business.There are worlds apart.
In gambling, nothing is guaranteed as you rightly stated. But with calculated plans for risk taking, one could make a profit or have minimal losses and not having the business thats struggling to thrive go under.

Not every gambler is smart with how he spends his money gambling. Being a gambler doesn't just give you the know-how on how to make critical decisions in the management of a business.

[gunhell16]

I was just thinking about this because gambling is all about taking risks, where nothing is guaranteed and we don’t even know if we’ll win. so in a way, gamblers are natural risk-takers, and when someone starts a business, they also need that mindset which is taking calculated risks, making bold decisions, and having the guts to push through uncertainty.

So I’m curious, do we have any successful business owners here who could say that their experience as a gambler somehow helped them succeed in business?

If you know the true to life story of FEDEX where the last money of its owner was 5000$ he decided to try gambling thinking that it might save his company business from 5000$ he was able
to grow it by more than 5000$.

And because of this he was able to turn it into 27000$ and according to this link source he used the money he won in gambling to save his fedex business,
though in my personal gambling I have not experienced this.

Source: https://www.foxbusiness.com/money/fred-smith-fedex-blackjack-winning-formula

[Juicyhome]

Is not all gamblers, in this perspective is only gamblers that play by the rules can run a successful business. Those that bet responsibly, can take their business serious. Business is all about financial management and investment, if you can not manage your finance as an individual you can't manage any successful business. As a gambler, if you have master the act to stop when you are losing, then you can ascertain when client is not longer having trust in your services. In Business your client satisfaction comes first, when you notice any negative reaction or feedback, work on them immediately. Same thing for gamblers, once you are not making profit , you have to stop immediately and think of another option or take a break.

I heard people saying they  can not hire a gambler as a manager, because they will gamble with company funds. Its true many gamblers doesn't have financial control, they stake with any funds available. But a Responsible gambler will always keep a spare cash for gambling and will never gamble with public funds.

[Eternad]

But Gambling alone does not guarantee business success as a person also needs to understand the business he is about to start or is doing, the seasons and the rules. He has to understand customer cares and customer which would also help to sustain his business.

Having gambling experience only teaches a new entrepreneur some lessons in starting a business. Gambling only depends on luck for you to win while having a business require many things to become successful.

Your success depends on your understanding how to operate. Losses in gambling can't be avoided while in having a business, you can reduce it greatly if you know how to run it well.

[Wapfika]

I was just thinking about this because gambling is all about taking risks, where nothing is guaranteed and we don’t even know if we’ll win. so in a way, gamblers are natural risk-takers, and when someone starts a business, they also need that mindset which is taking calculated risks, making bold decisions, and having the guts to push through uncertainty.

So I’m curious, do we have any successful business owners here who could say that their experience as a gambler somehow helped them succeed in business?

I partly agree on this since most of the successful businessman take risk before they succeed so having a guts on taking a risk will help you to succeed.

However, it’s not totally reliant on your willingness to risk is what makes businessman successful rather through their management and creativity skills with their service and product.

If you have no marketable service/product I think you will just lose a lot by taking a lot of risk.

[Muba20]

No. I do not think being a gambler could actually help one succeed in running a business. It could give one the urge and balls for taking risks but it can't really help you have and manage a successful business.There are worlds apart.
In gambling, nothing is guaranteed as you rightly stated. But with calculated plans for risk taking, one could make a profit or have minimal losses and not having the business thats struggling to thrive go under.

There is only a relationship between gambling and betting in terms of risk. Risks are taken in both places. The issue of risk in business is a little different. If a gambler takes a risk in gambling, he will either win or lose, but if he takes a risk in business, he will not lose everything in a short time. There are many who are interested in doing business but they cannot take risks. A gambler has no problem taking risks. He will be able to take high risks in business even if he wants to. But to run a business, an entrepreneur needs to possess various qualities.

[Dr.Bitcoin_Strange]

My gambling experience has never been of help to me in any way as regards to my business or job. That someone takes risk as a gambler doesn't mean that he can take good risk during business management or investment, there's always a big gap between someone that really knows what he or she is doing and someone that is using just ideas from other things to work with it in their business. To run a business successfully, you must have the knowledge of that business because there are certain risk you will take and it wi greatly affect your business but might not affect you in gambling.

[nara1892]

I am not a businessman or do not have a personal business in any field but yes I also agree that there are similarities between business and gambling especially in terms of courage to take risks, but of course it is not completely the same, in gambling when you take risks then all the results will depend on luck while in business the risk taking is usually done based on something that has been measured beforehand, or it can be said that risk taking in business is structured, the possibility of loss does exist but usually not up to 100% like in gambling because you already know where the goal is going.