Your confidence as a gambler is important

[fruktik]

I personally don’t see anything wrong with believing in your own prediction or strategy, but can also become detrimental to the gambler the moment this begins to turn into overconfidence, because the gambler begins to feel some level of control, assurance and entitlement when they gamble. And this here is usually the point where gamblers stops to make use of their rational reasoning but start relying more on their emotions to help them win. If a gambler wishes to keep their confidence in adequate control and in check, then they must learn to set boundaries and limits and be disciplined enough to stick to them, especially in critical moments.

I look back on my excessive self-confidence... It was so immense that I placed far too much faith in my own abilities. And what did it lead to? To massive debts that took me nearly five years to pay off. It was a total defeat in my life. I couldn't even imagine that I would end up in such an impossible predicament. I thought that this period would never end—that it would go on forever. So much energy, money, and time were wasted in vain, all because of that excessive self-confidence. It is something I wouldn't wish upon anyone.

[viljy]

I don't quite understand what "confidence" means for the OP. Confidence in winning? The more confidence, the higher the bet? Are we talking about sports betting or casino gambling? I can still understand the concept of "confidence" in the first case, but not in the second. Personally, I'm never sure at all. I can only hope. That's why I'm being careful. On the other hand, caution does not lead to big wins. Big wins require risk.

[jcojci]

Gamblers feels confident with their prediction that can give winning but they don't remember the game can changes in a second. Confident is needed but don't feels too confident because that will not work especially if the game change. You can only analyze the game, place a bet using the amount you can and let the outcome. If you win, that is good but if you lost, you don't have to regret as your analysis and prediction is not work at that moment. If you can treating gambling as entertainment, you will not feels hard if you lost because you know that is the risk of gambling.

[Mandoy]

I personally don’t see anything wrong with believing in your own prediction or strategy, but can also become detrimental to the gambler the moment this begins to turn into overconfidence, because the gambler begins to feel some level of control, assurance and entitlement when they gamble. And this here is usually the point where gamblers stops to make use of their rational reasoning but start relying more on their emotions to help them win. If a gambler wishes to keep their confidence in adequate control and in check, then they must learn to set boundaries and limits and be disciplined enough to stick to them, especially in critical moments.

I look back on my excessive self-confidence... It was so immense that I placed far too much faith in my own abilities. And what did it lead to? To massive debts that took me nearly five years to pay off. It was a total defeat in my life. I couldn't even imagine that I would end up in such an impossible predicament. I thought that this period would never end—that it would go on forever. So much energy, money, and time were wasted in vain, all because of that excessive self-confidence. It is something I wouldn't wish upon anyone.

Obviously, gambling can become dangerous when you become too confident. You should feel confident in your plan, but if a gambler starts to think he or she is in control of the game, the issue begins. This attitude can result in emotional decision making. High stakes and neglecting bankroll management. I believe discipline is far more important than confidence as it's not possible to eliminate uncertainty in a gambling situation. No matter how confident one may feel. This is a hard lesson to learn. And many gamblers find it out the hard way. Through painful losses. Debts and stress. It's a great reminder that you must be realistic and know your limits or risk some serious long term consequences.

[Samlucky O]

However since we now know the importance of our confidence towards our bets how then can we use it to our advantage?
I'll start by saying nothing is certain in gambling even a big team or favorite team in their best form can still lose to an underdog by performing poorly on that match. So that would mean our confidence level should drop to 50% irrespective of the kind of teams playing. But as humans we likely wouldn't treat every game desame way probably because of the stat and desperation of the teams playing, irrespective of how informed any team is, your confidence level shouldn't exceed 60% because the greatest factor of luck still stands.

No matter how confident you are in sport betting you can never be sure of what the outcome will be, and you can't use your confidence to take advantage, there is nothing like confident in Gambling, either you win or lose regardless of how sure and confident you are. Like you rightly said that big team may even lose to underdog team, that's just how gambling works. You might be confident about a team and yet they lose to a weak /underdog team. Nothing is certain. And I am assuring you that there is no how you can take advantage of your confidence and win when confident doesn't guarantee a win.

[Grace333]

For me, confidence plays no role here in winning games. You build confidence, they win or lose, even when you have no confidence, they win and win very well and comfortably. So there is nothing to any of them. I wouldn't even be grading our confidence to any percentage, because nothing works. Gambling is risk, and we must just be ready to accept it, either win or lose.. gamble with what we can afford to lose, and stay relaxed.. nothing as expectations if you want to be safe

Sure confidence plays no role in winning but if you feel a team or an option is likely to come true with a high level of certainty that can persuade you to increase your stake on that particular bet and that is where the problems comes in. It may not directly increase your chances of winning but it may amplify the result either you lose big or win big by increasing or decreasing your stake based on your confidence level. It even much better to be optimistic about your bet than to be confident about it.

[Sticky Bomb]

On the other hand, caution does not lead to big wins. Big wins require risk.

Risk is permissible, but you should have a budget for the risk because same risk that would get you a big win can also lead you to financial ruin. Big wins comes by luck and chance and not by taking unnecessary risks with your finances, people gamble responsibly and still win big if it is their luck. You should know that overtime the bad practice of throwing more than you can afford to loose into gambling, termed as risk becomes a norm and the gambler may possibly end up as an addict and suffer both emotional, physical and financial disaster and all these could have been avoided if he gambled responsibly.

[YellowSwap]

I've not seen a shaky gambler before🤔, they have always been confident or overconfident about the bet they are about to open, until things decide to go the unplanned for way lol.

Gamblers are mostly cocky is all I am trying to say, so saying that confidence is a thing was already presented in the minds of most gamblers, and yet they still lose money here and there.

This sure prove one thing, that gambling isn't all about having confidence alone, it's mostly about accepting that luck is all you need to win and before that luck comes you need to protect your mind, guide yourself right and risk only what you can afford to lose.

[ZeroVinsonN]

When a person already understands that nothing is guaranteed with gambling they ultimately have no reason to worry too much about how things are going to play out for them, no amount of worrying will change the outcome of a bit once it has been placed and as long as you are still gambling from your discretionary income you can be able to keep gambling even when you've lost and that's simply because your having exhausted your bankroll yet, that confidence only becomes a problem when you have burnt through your bankroll and still gambling.

[Zadicar]

However since we now know the importance of our confidence towards our bets how then can we use it to our advantage?
I'll start by saying nothing is certain in gambling even a big team or favorite team in their best form can still lose to an underdog by performing poorly on that match. So that would mean our confidence level should drop to 50% irrespective of the kind of teams playing. But as humans we likely wouldn't treat every game desame way probably because of the stat and desperation of the teams playing, irrespective of how informed any team is, your confidence level shouldn't exceed 60% because the greatest factor of luck still stands.

No matter how confident you are in sport betting you can never be sure of what the outcome will be, and you can't use your confidence to take advantage, there is nothing like confident in Gambling, either you win or lose regardless of how sure and confident you are. Like you rightly said that big team may even lose to underdog team, that's just how gambling works. You might be confident about a team and yet they lose to a weak /underdog team. Nothing is certain. And I am assuring you that there is no how you can take advantage of your confidence and win when confident doesn't guarantee a win.

Too much confidence would really be ending up on having that extreme disappointment on which it will really be that making you do things that you didnt expect that you would do, but if you are someone whose really that good when it comes to self control and awareness on your actions then there would be no problem. Having a confidence on your bet is normal specially if you have done your analysis and research then it cant be avoided that there's some feeling of assurance or sureness about on your bet but just like been said that its better not to make yourself that not much confident because once the game would end up on lose then that would be bringing up that disappointment and discouragement on which it might be ending up for you to get stressful and might not be making up bets for a while. Each person does have that different personality though on which there are those who do easily move on and there's those who are just that too highly reactive.

[LastKiss]

~snip~

However since we now know the importance of our confidence towards our bets how then can we use it to our advantage?

One of the many reasons I choose to bet is because I’m confident that the team can win the match altough it's not guarantee tho. Confidence is really important when making decisions especially when we want to bet on an underdog team. The only problem is when confidence turns into overconfidence and causes your decision to no longer be based on your own strategy. For example, you might increase your bet because you’re overconfident and then end up losing the bet. What you said about betting without careful consideration can happen because we are already overconfidence in our bet, thus the side effects or consequences can vary depending on the situation.

[fredericktaylor]

Gamblers feels confident with their prediction that can give winning but they don't remember the game can changes in a second. Confident is needed but don't feels too confident because that will not work especially if the game change. You can only analyze the game, place a bet using the amount you can and let the outcome. If you win, that is good but if you lost, you don't have to regret as your analysis and prediction is not work at that moment. If you can treating gambling as entertainment, you will not feels hard if you lost because you know that is the risk of gambling.

There is no confirm of winning money through gambling because the results are completely predictable. You can be confident that you will win by using the right research and strategy, but being overconfident is not at all right because at the end of the day the results can be reversed. It is better to use money for gambling that you can afford to lose, which will not put you under additional financial pressure. You can gamble for entertainment without any worries. It is always better to gamble with awareness, it is very good to take the right decision without making emotional decisions, as this reduces the chances of losing money and maintains self-control over yourself.

[Agbe]

I strongly believed that we discussed this topic this year in this gambling section and that made me to do some search on the topic and I saw the thread Perfectbabe created but it is locked now. https://bitcointalk.org/index.php?topic=5582565.0 and another day one again which was created last year. https://bitcointalk.org/index.php?topic=5536100.0. Op related topics are many another one again here. https://bitcointalk.org/index.php?topic=5563677.0. All the content are saying the same thing or idea. I have said how confident affect gamblers in other thread so let me reserve it now.

[Rabata]

~snip~

However since we now know the importance of our confidence towards our bets how then can we use it to our advantage?

One of the many reasons I choose to bet is because I’m confident that the team can win the match altough it's not guarantee tho. Confidence is really important when making decisions especially when we want to bet on an underdog team. The only problem is when confidence turns into overconfidence and causes your decision to no longer be based on your own strategy. For example, you might increase your bet because you’re overconfident and then end up losing the bet. What you said about betting without careful consideration can happen because we are already overconfidence in our bet, thus the side effects or consequences can vary depending on the situation.

If there is no confidence in placing bets, the bet will not be placed, but if that confidence is higher than as usual that means overconfidence, then it is natural that the probability of losing will increase rather than winning in that bet. Sometimes when people try to place bets with more confidence, the decisions in them are influenced by emotions and certainly when someone gambles with emotions, those principles will not be appropriate. When the gambler takes a decision on emotions, instability develops in him. The amount of his bet at that time may increase for any other time. If the gambler conducts gambling normally, he may win, but when overconfidence develops in him, the decisions that he wants to adopt in normal review will also be affected.

[Awaklara]

However since we now know the importance of our confidence towards our bets how then can we use it to our advantage?

Confidence in our bets does not guarantee that we will make a profit from the bets we place. Confidence must also be balanced with emotional control. As we all should know, the more confident we are in the bets we are going to make, the more likely we are to bet bigger. So our confidence can also increase the risk of betting. We can manage our bets, but we must still stay within our limits. Do not bet more than what we can afford.

[OgNasty]

I think this thread is more about faith than confidence. A confident gambler seems like a foolish person to me, whereas someone who has faith that they win seems to at least understand they’re asking the universe to let them beat the odds. The confident gambler lacks awareness…

[icebar]

On the other hand, caution does not lead to big wins. Big wins require risk.

Risk is permissible, but you should have a budget for the risk because same risk that would get you a big win can also lead you to financial ruin. Big wins comes by luck and chance and not by taking unnecessary risks with your finances, people gamble responsibly and still win big if it is their luck. You should know that overtime the bad practice of throwing more than you can afford to loose into gambling, termed as risk becomes a norm and the gambler may possibly end up as an addict and suffer both emotional, physical and financial disaster and all these could have been avoided if he gambled responsibly.

Taking risks is not bad. But a gambler should understand what kind of risk he is actually taking. Nowadays, most gamblers think that they can become rich in a very short time by taking a small risk and placing a bet. They are very confident in winning at gambling. But the main problem is that most gamblers cannot keep their bankroll fixed. After losing money, they think that playing another round will make them much more profitable. Due to this thinking, their bankroll is never fixed. As a result, they face financial disasters. If a gambler wants to take risks for gambling, he needs to learn his bankroll and self-control. Without self-control, taking risks in gambling can be a very dangerous.

[Yeesha]

I think this thread is more about faith than confidence. A confident gambler seems like a foolish person to me, whereas someone who has faith that they win seems to at least understand they’re asking the universe to let them beat the odds. The confident gambler lacks awareness…

As long as a gambler is not gambling out of compulsion, be has confidence in himself, and his willing and ready to accept the consequences whatsoever it may be, if not he wouldn't bother staking his money. This is gambling we are actually talking about and not any religious processes. I don't think gambling has anything to do with having faith or not. As a gambler, you just need to put it at the back of your mind that you may win or you may lose, because one of these two will always be the outcome of gambling. You can't talk about faith in gambling, while some religions has forbidden gambling. Every gambler has there own reasons for gambling, it is either for entertainment, happiness, joy and excitement or the other way round. If you decided to take risk then be ready or be well prepared for it outcomes.

[L E G E N D A R Y]

I don't quite understand what "confidence" means for the OP. Confidence in winning? The more confidence, the higher the bet? Are we talking about sports betting or casino gambling? I can still understand the concept of "confidence" in the first case, but not in the second. Personally, I'm never sure at all. I can only hope. That's why I'm being careful. On the other hand, caution does not lead to big wins. Big wins require risk.

Whether in sports betting or not, one should not possess overconfident in them, as it will do them nothing but hurts them due to constant failures and disappointment, and this will really affects them so badly that they will find it hard to change their behaviour because taking risks to think that they can defeat gambling is not match up to the side effects they will have. So, its better off not to think that overconfident has any role to play in gambling, rather just have fun and walk away.

[Cgrexp]

Gamblers feels confident with their prediction that can give winning but they don't remember the game can changes in a second. Confident is needed but don't feels too confident because that will not work especially if the game change. You can only analyze the game, place a bet using the amount you can and let the outcome. If you win, that is good but if you lost, you don't have to regret as your analysis and prediction is not work at that moment. If you can treating gambling as entertainment, you will not feels hard if you lost because you know that is the risk of gambling.

I agree with you . In sports betting, analysis and confidence are somewhat necessary. However, one should not be overly confident in one's analysis. In gambling, any outcome is uncertain and our decision analysis works as a probability, so our idea can change due to small events. One should bet according to the ability because if one bets as much as one can afford to lose, it does not cause disappointment and anxiety. However, there is no guarantee that gambling will definitely bring victory. A very good analyst can lose in a bet, while a weak analyst can also win in the same bet, so analysis is useful in gambling, but uncertainty does not go away.