Ponzi Mindset in Sports Betting

[Orpichukwu]

So if we see a mispriced line, we shouldn't try to take advantage of it? Well, I don't even worry too much about value bets or lines like that because there is no value if you're constantly losing bets so much that your win rate doesn't compensate for the loses. I think the best way to succeed is not even hunting for lines but to make sure you're always taking the highest probability bets and winning them too

And that way, which you consider to be the best way, actually doesn't exist out there, especially on the line where you talk about winning them all; you can only try to manage your bets and go for games with higher winning possibilities, but the winning rates don't always come out in our favour. To me, the best way is to try to manage the gambling activities to reduce how much we lose so that if we win, the losses are not that big compared to what was won.

[$weetne$$]

I have similar experience where I was even expressing some sort of certainty on the game, I even said for myself that the game was going to be a win in all circumstances and the odds from the bookies was pointing in same direction but then it turned out otherwise I was humbled.

[Crypto_Timothy]

Lol, they definitely do alot of Ponzi schemes in sport betting, especially online sport betting where they give you odds that dont match the stats and if you are new to that sport but still want to bet on it, you may just misread and bet and immediately match starts, cashout will unavailable and your money is gone unless by some grace the match isn not fixed and the football magic happens but then again for it to be called magic, it is because it happens rarely.

Greed is the true enemy of betting, i feel like if you can master or rather control your urges, you will truly enjoy your time betting. I mean there is a certain thrill to it that makes it fun especially when you have a strong favorite team but then again betting is still betting and if you are disciplined by your own guidelines that you set before gambling, it will just consume it entirely.

[Joy- maker]

When a game look too certain I often consider it be a trap, but most gamblers do not see it that way and  can understand why most gamblers do not see it that way.  There are times that a game would look so certain and when you play it as expected you end up winning the game.

A few years ago there was a premier League match involving Liverpool and one other club, although I can't recall the name of club right now. The  game look to straightforward, but I did not play it and many people avoided it too because they thought it was a trap but the game played the way people expected it despite their doubts. Therefore, if a game look too certain and you can afford to risk some dollars you may proceed.

[sunsilk]

Ponzi is still different from sports betting. In ponzi, they guarantee you that there's a % of return that you'll get for sometime.

While in sports betting, the risk is there but it's the odds that dictates the chance of winning. Therefore, you're still likely to lose.

I get that it's about the mindset but I think it's kind of a vague comparison although the whole point of the idea is logical.

[Rubuchi]

Look well before we should leap into. Most of the casinos are own by scammers who are looking for alternative means to scam people and with that they are bringing bonuses that are attractive and amount to win big but you never get there. How to detect such Ponzi scheme kind of casinos. Take the domain name and make a thorough research in the net and analyse the website with different features on the casino to see it deem fit.

there are scammers everywhere, in gambling, in sports, in other games and in life in general. I don’t know if most casino owners are truly scammers but I think that’s why we also have regulators in the industry and again it is a thing of choice . Nobody should force you into gambling. It should be a decision you take naturally based on your own convictions and not persuasion of anybody. Before going into gambling, you should have known the implications or have idea of the consequences since that is supposed to make you more cautioned of your decision making and calculated risks management.

[Strongkored]

Sometimes the line looks too good to be true, so you jump on it fast thinking it’s a free win. But most of the time, that’s the trap. Same with Ponzi schemes, if the return looks too good, there’s probably something wrong behind it.

I think many bettors experienced this already. You saw a line that looked easy, trusted it too much, then it ended in a loss. That’s why mindset matters, greed can make you ignore the red flags.

Something that looks easy can actually be detrimental, so yes we must always be careful.
It is important to find out by reading statistics and analyzing whether the odds are profitable or too good to choose another one.
Because we don't know what's happening behind the scenes, be alert and don't think of it as a sure win.

[Fivestar4everMVP]

Sometimes the line looks too good to be true, so you jump on it fast thinking it’s a free win. But most of the time, that’s the trap. Same with Ponzi schemes, if the return looks too good, there’s probably something wrong behind it.

I think many bettors experienced this already. You saw a line that looked easy, trusted it too much, then it ended in a loss. That’s why mindset matters, greed can make you ignore the red flags.

It is definitely not good to be greedy or to apply greed in any thing at all that we are doing, but I will say that gambling, which also includes sports betting has always been about taking risks to potentially win and make money, he who is afraid of taking risks and also afraid of loosing money should have absolutely no business in gambling and or sports betting.

In sports betting, a line that looks too good to be true can still be true, and this is because any thing is possible, whether you are sure or not, I think the best thing here is to simply try your luck on that line with any amount of money you are very sure losing it won't be a problem at all you, stake it there and believe that the money is lost just so that if the bet loses, you know it's one you had expected will lose right from time, you won't feel bad about it.

But on the other hand, what then happens if paradventure, the line ended being real and you won?

[tread93]

Sometimes the line looks too good to be true, so you jump on it fast thinking it’s a free win. But most of the time, that’s the trap. Same with Ponzi schemes, if the return looks too good, there’s probably something wrong behind it.

I think many bettors experienced this already. You saw a line that looked easy, trusted it too much, then it ended in a loss. That’s why mindset matters, greed can make you ignore the red flags.

Yes its really easy to ignore the red flags and just keep on pushing and doing the same old thing over and over again. People that get caught up in unhealthy gambling are much more likely to lose a ton of money vs someone who is more moderate and skeptical or such Ponzi traps

[OsaiEmma]

Why relating ponzi scheme to gambling? They are different things entirely which does not need any comparison.

If it is not a pyramidal scheme, you may not even know that it is a ponzi scheme, but there are some that the reward is huge, which many greedy and ignorant people fall for, but still I do not see how it is similar to gambling.

Some people are not gambling at all, but they fall for ponzi scheme just because of ignorance.

Yeah my thought exactly, there is no equivelance for a comparison. I can't really tell if there is a situation where you'll say something seems too good to be true in gambling, and it ends up being a fraud (maybe I'm not experienced enough to come across such situations). I mean, gambling itself is already too good to be true, especially when you have crazy parleys in sports betting (which I engage in d most), but can we really call that a scam? Maybe that's where OP is drawing his comparison with ponzi schemes from. Someone will use little money on a very large parley and will want to win 100s of thousands or even millions 😂😂, sometimes there are some lucky ones too, but it is not entirely a fraud because, no one coerced u into playing such game(even if someone did, it's not from d company, and such person have nothing to gain), and if eventually ur lucky enough to win, u'll get paid, so I don't see d scam or ponzi scheme there.

[Sandra_hakeem]

Sometimes the line looks too good to be true, so you jump on it fast thinking it’s a free win. But most of the time, that’s the trap. Same with Ponzi schemes, if the return looks too good, there’s probably something wrong behind it.

I think many bettors experienced this already. You saw a line that looked easy, trusted it too much, then it ended in a loss. That’s why mindset matters, greed can make you ignore the red flags.

For the first time in so many post that I have seen someone genuinely mention the actual reason behind the repeated failure of most gamblers. They get driven by that insatiable desire to get more than what the game has to offer, thereby putting themselves on the margin. You don't trust a bet because it looks like an easy win-- how else would you notice a trap when you basically just ignore the signs that you get?!

People that get caught up in unhealthy gambling are much more likely to lose a ton of money vs someone who is more moderate and skeptical or such Ponzi traps

The same people would often say--- "well, if you don't take an opportunity eveytime, how would you know which one of the rounds carries a win"..

[sotelorene]

Sometimes the line looks too good to be true, so you jump on it fast thinking it’s a free win. But most of the time, that’s the trap. Same with Ponzi schemes, if the return looks too good, there’s probably something wrong behind it.

I think many bettors experienced this already. You saw a line that looked easy, trusted it too much, then it ended in a loss. That’s why mindset matters, greed can make you ignore the red flags.

You are partly correct reason because it is not everytime you see line that looks good that signify deception no, sometimes it is actually true and when you have this conclusion and mindset that every line that looks good or easy is not true will make you have more loss than you will ever imagine. So it's not everytime you have to follow mindset and the mentality you towards something can affect you negatively sometimes especially in something that has to do with prediction like gambling.

[Marvelockg]

I think many bettors experienced this already. You saw a line that looked easy, trusted it too much, then it ended in a loss. That’s why mindset matters, greed can make you ignore the red flags.

That's why the similar statement that goes with investing in anything that looks like a Ponzi scheme still goes with gambling because regardless of how it looks like an outcome that's too certain to play out, gambling is still unpredictable in it nature and regardless of how it seems like the game will certainly play out, there's every possibility that it might not.

Sometimes, it's not even about greed, it's about having so much faith in a system that doesn't have a form of guaranteed outcome. At least, gambling is not like Ponzi scheme that's mostly scam related but if you're not careful enough to gamble with you can afford it loose, You will be left at same miserable state like where most that engage in Ponzi scheme always ends.

[Botnake]

At least, gambling is not like Ponzi scheme that's mostly scam related but if you're not careful enough to gamble with you can afford it loose, You will be left at same miserable state like where most that engage in Ponzi scheme always ends.

It is of course, but maybe what OP is referring to is the mindset of the people. Maybe if someone thinks they can get rich in gambling, then that could be considered a ponzi-like mindset. I know Ponzi is the name of the person who started that kind of scam, but isn’t it also like scamming ourselves if we believe in something wrong, like thinking we can really make money in gambling without skills?

That kind of belief can be dangerous because we are not being realistic anymore, we are just feeding ourselves false hope.

[Junii]

Sometimes the line looks too good to be true, so you jump on it fast thinking it’s a free win. But most of the time, that’s the trap. Same with Ponzi schemes, if the return looks too good, there’s probably something wrong behind it.

I think many bettors experienced this already. You saw a line that looked easy, trusted it too much, then it ended in a loss. That’s why mindset matters, greed can make you ignore the red flags.

Yep this happens to many people. When you see a line look so easy your brain immediately gets excited and thinks oh this is going to win. At that second your logical thinking starts to fade and your emotions become more powerful. You forget to ask yourself simple questions like why is this showing so easy . And dive right into the potential profit.
This is also the same thing that happens when people fall for Ponzi Schemes. They never look at the whole system they just see what they want to see. Large percent returns and think easy money. That excitement wants you to take the chance.
Same thing applies with betting this is where most people mess up. Not because they dont know how to read a game but because they let their greed and confidence get the best of them when they come across a  Perfect  opportunity. Picking your spots is key but also knowing WHEN NOT to take the shot is important as well. Sometimes walking away and questioning instead of rushing is the best bet.

[Cgrexp]

Look well before we should leap into. Most of the casinos are own by scammers who are looking for alternative means to scam people and with that they are bringing bonuses that are attractive and amount to win big but you never get there. How to detect such Ponzi scheme kind of casinos. Take the domain name and make a thorough research in the net and analyse the website with different features on the casino to see it deem fit.

there are scammers everywhere, in gambling, in sports, in other games and in life in general. I don’t know if most casino owners are truly scammers but I think that’s why we also have regulators in the industry and again it is a thing of choice . Nobody should force you into gambling. It should be a decision you take naturally based on your own convictions and not persuasion of anybody. Before going into gambling, you should have known the implications or have idea of the consequences since that is supposed to make you more cautioned of your decision making and calculated risks management.

Nowadays  everything is being cheated . so nothing can be called completely good or completely bad. Laws are made to keep people from being addicted to gambling and to maintain fairness  and gambling has been banned in many countries. However  today  due to online gambling  people cannot be completely controlled. However  the most important thing is to have personal responsibility and control. Each person enters the game of gambling of their own free will and is responsible for its results. In this case decisions should be made according to their own ability and risk management. A responsible person can control themselves, but an unconscious person can easily lose control and get hurt. It is more important than whether the casino is good or bad, but whether a person is making responsible decisions or making irresponsible decisions.

[nelson4lov]

~Snip[/b]

And that way, which you consider to be the best way, actually doesn't exist out there, especially on the line where you talk about winning them all; you can only try to manage your bets and go for games with higher winning possibilities, but the winning rates don't always come out in our favour. To me, the best way is to try to manage the gambling activities to reduce how much we lose so that if we win, the losses are not that big compared to what was won.

Yeah, I forgot to mention two things. First, it has to be highest probability bets at the best value. So I'm not saying that the ideal bets would be bets with 1.01 to like 1.05 odds. It has to be high probability and at a value that is good enough. I also forgot to mention the losses part. Losses are part of any bet/gamble or risk taking venture like trading. Gambling especially is not 100% certainty no matter what odds are being advertised. What matters isn't even win rate, imo it matters that after wins and losses, net PnL comes out positive.

[Wakate]

I have similar experience where I was even expressing some sort of certainty on the game, I even said for myself that the game was going to be a win in all circumstances and the odds from the bookies was pointing in same direction but then it turned out otherwise I was humbled.

Expecting too much from a match that can easily end in loses is a waste of time. Gambling should be seen as fun and too much seriousness should never be added. If don't put all hope on a match that I know that anything can happen and I could suddenly lose the match and the bet when the outcome is against my expectations.