Gambling for money contradicts the very idea of money

[HONDACD125]

I think the casinos like it more when gamblers are addicted. Yeah, because they know and understand that addiction causes impaired judgment and when gamblers are unable to make logical decisions in gambling, they tend to lose more. And unlike gamblers, casinos are in the business strictly for the money and they benefit more from the losses of gamblers, so they do want gamblers to lose more. Thats why you even see some casinos offer alcohol to their customers because they know that gamblers, even the responsible ones won’t be able to make responsible choices when they’re under the influence of alcohol.

Isn't that normal? Because casinos are businesses run by businessmen, and gamblers are customers for them. If you start a business, wouldn't you want your customers to buy as many products as possible because that is going to benefit your business? You would, and that's exactly why casino owners want their customers to also gamble as much as possible because that would mean more revenue for them, and they don't care if you are spending your pocket money, your salary, or your savings, but all they care about is making as much money as possible, and there is nothing wrong with that at all.

A casino owner might not want their gamblers to become addicts, but one thing is for sure, they do want their gamblers to gamble as much as possible, and they also want their gambler base to keep increasing over time, and this is the reason why casinos usually spend a lot of money on marketing and promotions so that they can attract as many gamblers as possible to increase their revenue.

[fredericktaylor]

Money has a kind of approach in which except we go through that same pattern, we may not really earn it the exact way we have wanted, that is why we have to understand more about the application of gambling to the value of money and why we may not have money as intended from gambling as well as how the value of money cannot be limited to gambling purpose, when a gambler understand all these, things wont fall apart for us and we are going to have the best of it all.

For us to enjoy gambling, we should just stop trying to attach the value of money to it and gamble with little money that has no value and not try to derive the value from it; just use little money, enjoy the moment, and if it goes, it goes, and if you win, then you put that money into your pocket and move on with your life.

Of course the money that a gambler can lose does not result in financial problems and it is wise to use that money within your means. When there is no excess demand through gambling, a gambler can actually enjoy the real fun. Most gamblers gamble in the hope of profit, which is not right at all, as a result of which only increases emotion or greed, the risk of losing money increases manifold. Therefore, by keeping our mind calm and gambling for entertainment, there is no possibility of addiction, so we can stay within our limits and enjoy the real fun and reduce the risk of losing extra money.

[junder]

And the reason why gambling is popular is that people don't just view gambling as an entertainment but also as a means of income resources. Most of us do not just spend based on our budget but based on what is in our pockets.

I don't mind rich people gambling, but what is very concerning is that more and more poor people are already gambling. And more of them have fallen to addiction.

Seeing the current situation, I don't feel that gambling is still for entertainment. Instead, I look at it as a place of desperate people who want to become rich instantly.

I believe gambling's rapid popularity is due, in part, to the potential for winning. However, there's a misunderstanding. Some people tend to assume that winning in gambling is guaranteed, when in reality, this isn't the case.

If the goal of gambling is to make money or profit, then it's beyond the concept of entertainment, and the result is likely to be addiction, sooner or later.

[Hardyrobust]

And the reason why gambling is popular is that people don't just view gambling as an entertainment but also as a means of income resources. Most of us do not just spend based on our budget but based on what is in our pockets.

I don't mind rich people gambling, but what is very concerning is that more and more poor people are already gambling. And more of them have fallen to addiction.

Seeing the current situation, I don't feel that gambling is still for entertainment. Instead, I look at it as a place of desperate people who want to become rich instantly.

I believe gambling's rapid popularity is due, in part, to the potential for winning. However, there's a misunderstanding. Some people tend to assume that winning in gambling is guaranteed, when in reality, this isn't the case.

If the goal of gambling is to make money or profit, then it's beyond the concept of entertainment, and the result is likely to be addiction, sooner or later.

The reason why majority of people do gamble is to make profit and it is few that do gamble for entertainment. Going into gambling with the aim of making profit can't lead to addiction, it is when gambling is seen as a source of income that when a gambler can become addicted. There are people that gamble to make profit but they are addicted to gambling because they have discipline themselves not to overdo it.

[lovesmayfamilis]

It would be much better to play for something else. For example, for points.

What will you ultimately do with your points? If they can't be exchanged for cash in the future, I'm sure gambling will simply be relegated to the category of "table games" when it comes to casinos. I agree with the idea that winning money from gambling can be described as easy or "fun." That's why I view gambling as fun, and winnings are almost always spent on frivolities and entertainment. Following the rule "that easy come, easy go", such money should be spent without regret.

[goldkingcoiner]

It would be much better to play for something else. For example, for points.

What will you ultimately do with your points? If they can't be exchanged for cash in the future, I'm sure gambling will simply be relegated to the category of "table games" when it comes to casinos. I agree with the idea that winning money from gambling can be described as easy or "fun." That's why I view gambling as fun, and winnings are almost always spent on frivolities and entertainment. Following the rule "that easy come, easy go", such money should be spent without regret.

I agree.

Spending money should be done without regret.

Anyone who gambles with a feeling of "I am going to regret this" might not have a good time even if they win. It is too much stress.
You should gamble if only you are in an unstressed mindset. This is why some people prefer to drink alcoholic drinks, although too much and the next morning will be a feeling of regret again .

[Kasabus]

Anyone who gambles with a feeling of "I am going to regret this" might not have a good time even if they win. It is too much stress.
You should gamble if only you are in an unstressed mindset. This is why some people prefer to drink alcoholic drinks, although too much and the next morning will be a feeling of regret again .

That just means he can’t really afford to lose what he’s staking. With that kind of mentality, even if you win at the start, you’ll still end up losing in the long run. You only will not feel confident about the money you risk, and deep inside you’re always thinking it might be gone. So instead of having fun, you’re just playing with fear. I think the better mindset is to accept early on that losing is always a possibility, even if we’re aiming to win. That way, it won’t hurt as much when it happens.

[mak013]

Money was invented as a medium for exchanging value:
you give me value, I give you money,
then you give someone money, and they give you value.

In this scheme, the person who ends up with more money is the one who has provided more value to others. Everything is clear and fair.

...until we begin to talk about USD

It would be much better to play for something else. For example, for points.

Cryptocurrency actually fits this quite well too. Especially coins that are given away in airdrops, or those that are easy to mine. Or, really, any coin that only pretends to have value.

So overall, it seems quite logical to me that the most popular board on Bitcointalk right now is the "gambling" section. The most obvious use case for cryptocurrency, wouldn't you agree?

Cryptocurrencies costs money. You can mine it, spending money to buy mining equipment, pay money for electricity bills, or you can pay fiat money to buy cryptocurrencies. So using cryptocurrencies for gambling is the same as using money.
For me there is no difference between cost of money and cryptocurrencies. I use money for betting i sell my cryptocurrencies for expenses.

[nara1892]

Agree, I think as long as we gamble with our own money and do not harm others then there is nothing wrong with that action, especially if we gamble responsibly and do not make winning a priority, honestly I myself do not care about whatever other people say, whatever we will do is our right and the most important thing is as I said above, namely gambling responsibly and only making it as entertainment.

I would even consider gambling to be a better waste of my money than to buy something worthless with it, like something that fuels a bad habit or encourages a new bad habit and that can't make me any money in anyway.
I don't feel pressured into using my money to gamble as it is something I can afford to lose at that moment and with crypto currency, the focus for me is privacy concerns and thus hits harder than using just fiat currency to gamble.

In the end, everything comes back to each person's choice because everyone has a different perspective in responding to everything, for example, like you who prefer to use your money to gamble rather than buy unimportant items, that's not a problem, but for me personally, the important thing is that we don't chase losses, don't gamble with money that will be used for important things in our lives, and gamble responsibly, gambling with cryptocurrency is also not a problem, because sometimes when I'm lucky I usually send all my balance to my Bitcoin address to add to my monthly DCA accumulation.

[Hazink]

The reason why majority of people do gamble is to make profit and it is few that do gamble for entertainment. Going into gambling with the aim of making profit can't lead to addiction, it is when gambling is seen as a source of income that when a gambler can become addicted. There are people that gamble to make profit but they are addicted to gambling because they have discipline themselves not to overdo it.

Your last statement contradicts what you have said above. Anyone who is disciplined enough is not supposed to get addicted to gambling. Those who are not disciplined are the ones who are easily distracted by game results or their desire for quick and fast profit, as if their life depends on it, just like those who see it as a source of income take it very seriously.

[viljy]

In this scheme, the person who ends up with more money is the one who has provided more value to others. Everything is clear and fair.

When we win money, we break this scheme. In the same way it is broken by theft, robbery, or taxes. If money is obtained for nothing, it loses its value.

You don't take into account that in order for someone to win, other people have to lose. And this "someone" does not get money for nothing, but he gets money at his own risk. In other words, "fate" paid him for the risk or "bought his risk." Other people took the risk too, but they were unlucky, and "fate" took their money. Or another way: the money was redistributed from many to one. By the way, the scheme is not violated in cases of robbery or taxes, because here another factor enters into the scheme instead of the "risk" factor (as in gambling). This is the factor of "force" and "coercion". In a more "civilized" version, this factor may be, for example, the aircraft carrier Gerald Ford.

[ScamViruS]

Every person has their own thoughts, preferences. Those who gamble play knowingly, and they use their money for that. I don't see gambling as bad unless it's done to someone's detriment, as long as it doesn't become a complete addiction. We have a bad habit of starting something and ending it with an addiction, which is not really a good thing. Many people take gambling as entertainment, and they use their money for their entertainment, and I think the casinos also value that.

I think the casinos like it more when gamblers are addicted. Yeah, because they know and understand that addiction causes impaired judgment and when gamblers are unable to make logical decisions in gambling, they tend to lose more. And unlike gamblers, casinos are in the business strictly for the money and they benefit more from the losses of gamblers, so they do want gamblers to lose more. Thats why you even see some casinos offer alcohol to their customers because they know that gamblers, even the responsible ones won’t be able to make responsible choices when they’re under the influence of alcohol.

When a gambler goes to gamble, two things are certain he will lose money or win. As a result, gamblers gamble knowingly. Casinos operate casinos for business, and only when gamblers go to gamble will they generate revenue. Now, how a gambler can control himself is the most important thing to control himself from making huge losses. Because the casino will always want the gambler to keep losing, they will try everything they can to do that. So I think it's up to the gambler to decide what they want to do and how they want to approach gambling. If you can control yourself, no one can lead you in the wrong direction.

[blomen]

when we gamble at a casino, we lend them money, and instead of paying us back, they sell us “risk.” while the value of the risk everyone buys is different, it's called risk for a reason -it involves chance- so not everyone can win money. casinos compensate for this service by skewing the risk/reward ratio in their favor.

since all transactions are essentially simple debt-credit situations, the use of cryptocurrency is quite normal. ultimately, cryptocurrency provides the best security for the seller, i.e., the casino. non-reversible transactions protect both parties from fraud.

[Z_MBFM]

Gambling is another form of exchange.  When a gambler gambles, he pays for the fun, excitement and even the reward he stands to get for taking a risk. This kind of exchange may not sit well with you but the gambler ls  already aware and he signed up for it. All gamblers voluntarily agreed to risk their valuable just to get the experience that might end up rewarding them, this does not place gambling and robbery or theft in thesame category where the later is done with force.

People do not spend money on gambling for fun, but rather for the desire to win big and take big risks. Everyone likes to declare that they are gambling for fun, but everyone's goal is to win. Some can accept their losses, while others cannot. Gambling is fun because it offers the opportunity to win money. New gamblers see gambling as a place of fun, but addicted gamblers see it as a place where they can find hidden treasures. But no matter what the purpose of gambling is, the ultimate goal is to win, and that's the case for me too.

[uche6215]

I don't agree completely with you on the point that you are trying to drive home here. Yes it's true that money is a medium of exchange and you must exchange value for money when you gets to gambling there is also an exchange. You are exchanging money as the value and in return you are expecting more money,this is more like a business to me even if most people will not agree with me on this. Gambling involves you risking your money which I can also consider as something which I can describe as the exchange medium.

[qwertyup23]

Money has a kind of approach in which except we go through that same pattern, we may not really earn it the exact way we have wanted, that is why we have to understand more about the application of gambling to the value of money and why we may not have money as intended from gambling as well as how the value of money cannot be limited to gambling purpose, when a gambler understand all these, things wont fall apart for us and we are going to have the best of it all.

For us to enjoy gambling, we should just stop trying to attach the value of money to it and gamble with little money that has no value and not try to derive the value from it; just use little money, enjoy the moment, and if it goes, it goes, and if you win, then you put that money into your pocket and move on with your life.

Of course the money that a gambler can lose does not result in financial problems and it is wise to use that money within your means. When there is no excess demand through gambling, a gambler can actually enjoy the real fun. Most gamblers gamble in the hope of profit, which is not right at all, as a result of which only increases emotion or greed, the risk of losing money increases manifold. Therefore, by keeping our mind calm and gambling for entertainment, there is no possibility of addiction, so we can stay within our limits and enjoy the real fun and reduce the risk of losing extra money.

The problem with most gamblers are the lack of discipline on their end. They also have the tendency to go beyond their allocated budget which accounts on why most get addicted easily.

Like you mentioned, gambling offers that idea of hope of winning that jackpot. But in reality, the odds of hitting one are astronomically low that it is definitely possible not to hit it within your lifetime. But then again, seeing those advertisements and displays of brand new cards and millions of $$$ just destroys your rationality and fuels your addiction to gamble further.

I don't agree completely with you on the point that you are trying to drive home here. Yes it's true that money is a medium of exchange and you must exchange value for money when you gets to gambling there is also an exchange. You are exchanging money as the value and in return you are expecting more money,this is more like a business to me even if most people will not agree with me on this. Gambling involves you risking your money which I can also consider as something which I can describe as the exchange medium.

What you pay for gambling is the hope and odds of doubling your money. So in essence, you are exchanging something in return- you gamble money in hopes of increasing it. With that exchange, there is also that possibility of losing your money in the process. That is why I do agree with you that there is something in exchange whenever you gamble. It might not be physical money but the hope of doubling it accounts for it already.

[silpersurfer]

Going to a casino is like riding a ride. You pay for a ticket and in return, you get the thrill of the ride—again, the thrill, not the profit. If you're trying to profit from the casino, then coming as a visitor is a mistake; you should come as an owner. Casinos are designed to profit the owners, not the customers. When someone wins big, they end up spending their winnings on the next round of gambling.

We pay for the thrill we get, so never feel bad when we lose, because that feeling can lead to even greater losses. And importantly, we shouldn't gamble too much; just be reasonable.

[Wakate]

Your last statement contradicts what you have said above. Anyone who is disciplined enough is not supposed to get addicted to gambling. Those who are not disciplined are the ones who are easily distracted by game results or their desire for quick and fast profit, as if their life depends on it, just like those who see it as a source of income take it very seriously.

Being disciplined can stop you from becoming addictive to gambling but your emotions will not allow you to stop and focus on how you are going to be profitable because what you will be be looking for is the opportunity for you to be profitable while gambling.
Those with less discipline might have much challenges trying to control their emotions which can be a problem.

[Joy- maker]

Gambling is another form of exchange.  When a gambler gambles, he pays for the fun, excitement and even the reward he stands to get for taking a risk. This kind of exchange may not sit well with you but the gambler ls  already aware and he signed up for it. All gamblers voluntarily agreed to risk their valuable just to get the experience that might end up rewarding them, this does not place gambling and robbery or theft in thesame category where the later is done with force.

Floxy if truth be told gambling can be considered as another form of exchange Just to an extend, but in economics sense gambling is not a form of exchange, why because in economics settings an exchange involved trading of goods, services or money where those persons involve expect to receive a benefits of known or agreed value. that's to say your returns are guarantee, although not really 100 percent guarantee, but in gambling your returns are not guarantee, gambling involved give up money for the chance of winning, nothing is guarantee there, it's just all about risks and uncertainty. But  i can't agree with the OP, because placing gambling as robbery or theft doesn't seat well with me, why because Casinos didn't force anyone to come gamble with them, people are gambling with them willingly.

[internetional]

The casino is providing value in the form of entertainment. That is what is being paid for.

As for gambling being the best use of crypto… That’s more a sad result of this community and the lack of supporting talent here than anything else.

Casino - yes. Like any business that people voluntarily bring money to, a casino gives them something of value in return. Not only entertainment, but also a certain social status (especially if it is an expensive, luxury casino).

But what does the person who wins at a casino get paid for? What value does he give back? What did he do to earn that money?

If instead of money he receives cryptocurrency, that is another story. That is not very different from ordinary airdrops or Bitcoin faucets (remember those, back in the day?).