Does Psychology Need to Be Added to Gambling?

[uneng]

I think, for one, psychology should be taught alongside bankroll management. What us your view on this?

Psychology is the ability of someone understanding himself, developing self-knowledge and how his emotions impact him on daily life. That is something people should learn on every aspects of their lives, as psychology is related to everything. The problem nowadays is that many people don't know why they act like they are doing and why they are doing things they do. That is an example of how modern life works on automatic mode, through impulsiveness.

I believe it goes beyond managing a bankroll properly. It's about finding out why you are gambling, what you expect from it and how it relates to who you are.

[fruktik]

Is this really a psychological issue? I associate the desire to win back losses with excessive greed. To me, this is a more accurate understanding of the situation than any psychological aspect. The desire for quick and big money has always driven people to make rash decisions. These are the decisions that always lead to negative consequences. You should think several times before making any definite conclusions.

[Bitcoin.com97]

I agreed with you to an extent, because mindset has kept many down ,once they loses ,their mind immediately tells them to gamble more frequently as to get back the wins ,one began  to chases loses unknownly ,this things works with our mind,but if we are psychological alert ,some mistake we made wouldn't have been made,so that is why I feel psychology need to be added to gambling, because it's going to help many not to fall into desperation towards gambling.

[viljy]

You can see two different gamblers use the same strategy and end up with different results. That's to say their mindset is different. Not forgetting losses, I view people who chase losses as having more of a psychological problem than a gambling one.

Seriously? It's probably just a matter of one of them having luck and the other not. As for the desire to win back the money they've lost, it's more accurate to say that one of them is healthy and the other is more or less addicted to gambling. Addiction is a psychological problem. You're right about that. The problems of gamblers lie within their psyche and are related to their inability to accept failure.

[imthegreat]

I was staring at the Bitcoin chart, and it got me wondering. Can psychology be used in gambling just as it is in trading?

When people mention gambling, all they think about is luck, luck, and luck. To a large extent, they are right. But what they fail to understand is that psychology can also play a role in gambling. It deals with the mind, and everything about your mind is powerful.

You can see two different gamblers use the same strategy and end up with different results. That's to say their mindset is different. Not forgetting losses, I view people who chase losses as having more of a psychological problem than a gambling one.

I think, for one, psychology should be taught alongside bankroll management. What us your view on this?

When it comes to poker, psychology can and should certainly be studied, as it's an integral part of the game. That's why many players cover their faces when playing poker, so no one can see what they're thinking and how their expressions change as the situation changes, in the synergy between their cards and those on the table. Therefore, excellent poker players are not only strong mathematicians but also psychologists. So if I wanted to become a poker pro, I would study psychology.

[Pi-network314159]

I was staring at the Bitcoin chart, and it got me wondering. Can psychology be used in gambling just as it is in trading?

When people mention gambling, all they think about is luck, luck, and luck. To a large extent, they are right. But what they fail to understand is that psychology can also play a role in gambling. It deals with the mind, and everything about your mind is powerful.

You can see two different gamblers use the same strategy and end up with different results. That's to say their mindset is different. Not forgetting losses, I view people who chase losses as having more of a psychological problem than a gambling one.

I think, for one, psychology should be taught alongside bankroll management. What us your view on this?

And you think teaching psychology is a way of reducing addiction or stop loses? To me bankroll management is not different from psychology, a good bankroll management is already a good criteria to justify psychology. When you control addiction and learn bankroll management then you don't need to study psychology in gambling. I have read deep meaning into psychology and bankroll management, I see no difference in them.

[junder]

What I think here about psychology is a wise mindset when gambling, so players must be able to keep themselves from experiencing unpleasant things when gambling such as large losses that can occur when the player's own mindset is bad or wrong in terms of gambling.

On the other hand, people who are addicted have problems with the wrong mindset, and those who are like this need help from others or their closest even psychologists make sense because the problem is in the mindset.

[Tetu100]

I think psychology is already part of gambling, whether people realize it or not. It's not just about luck, it's about how you handle wins, losses and pressure. Take chasing losses, for example. That is not a strategy problem, it is a mindset problem. When you are so desperate to win back what you lost, you stop thinking clearly and start making bad decisions. That is where psychology actually comes in.

You are correct, psychology has been a part of gambling for so long now but sadly that most of us didn't realize it. However, when ever we became so emotional and start making crazing decision that is when the psychological problem stepped in. And funny enough that some gamblers can't even understand all of these, they match it all as a normal thing in their gambling streak not knowing that it has become a serous psychological problem that need to be attend to before it result into something else.

[Agbamoni]

I think, for one, psychology should be taught alongside bankroll management. What us your view on this?

Psychology has always been a topic for discussion in recent years. It is the reason why we have those gamblers that are successful and some others who are still in the shackles of loss. How we react to wins or losses differs, and that's where Psychology comes in. Just as we talk about bankroll management, not chasing losses, and gambling with what we can afford is the same way psychology should be emphasized in gambling. A lot of people are losing it big due to not thinking critically at some point.

[eisen33]

I was staring at the Bitcoin chart, and it got me wondering. Can psychology be used in gambling just as it is in trading?

When people mention gambling, all they think about is luck, luck, and luck. To a large extent, they are right. But what they fail to understand is that psychology can also play a role in gambling. It deals with the mind, and everything about your mind is powerful.

You can see two different gamblers use the same strategy and end up with different results. That's to say their mindset is different. Not forgetting losses, I view people who chase losses as having more of a psychological problem than a gambling one.

I think, for one, psychology should be taught alongside bankroll management. What us your view on this?

I think bookmakers can take this into account, let's say there's a World Cup match that almost everyone is watching. It's a game between a clear favorite and an underdog, and obviously, most bettors will place their money on the favorite.

In that situation, bookmakers can factor this into their calculations, but I don't know whether they can actually take advantage of it. If match-fixing were involved, a bookmaker could make an enormous amount of money from it. But if that's not possible, then I don't really understand how bookmakers could benefit from the fact that most people are betting on the favorite.

[noorman0]

-snip-
You can see two different gamblers use the same strategy and end up with different results. That's to say their mindset is different. Not forgetting losses, I view people who chase losses as having more of a psychological problem than a gambling one.

Why is this a question?
I'm surprised someone would decide to involve their psychology in a gambling session. Gambling problems aren't always rooted in psychology; it only plays a role during the session, determining how long you stay in control. But other factors, such as situational factors, financial factors, or even the design of the platform itself, can contribute to a gambling problem.

[Betwrong]

I was staring at the Bitcoin chart, and it got me wondering. Can psychology be used in gambling just as it is in trading?

When people mention gambling, all they think about is luck, luck, and luck. To a large extent, they are right. But what they fail to understand is that psychology can also play a role in gambling. It deals with the mind, and everything about your mind is powerful.

It's not always "luck, luck, and luck". If you think like this playing poker, more often than not you will not be a winner. Many gamblers will say the same about sports betting. But regarding other games, I agree, it's all about luck.

You can see two different gamblers use the same strategy and end up with different results. That's to say their mindset is different. Not forgetting losses, I view people who chase losses as having more of a psychological problem than a gambling one.

I think, for one, psychology should be taught alongside bankroll management. What us your view on this?

If by "results" you mean the feelings gamblers have after their losses, I totally agree.To me personally, losing is nothing, and I forget about it right away. Firstly, because I only bet what I can easily afford to lose. Secondly, because I prefer betting at high odds, so I don't expect to win often.

Yes, I think psychology is as important in gambling as bankroll management.

[gracreavix]

I see comments here pointing out that psychology can't make you win. Yes, it can't. But OP's argument is not based on the outcome of gambling, but on how one manages himself or herself during and after gambling.

If you take a loss, what should you do? Are you following your gambling plan? If you win, how stable are you? Those are what psychology is concerned with, not your account balance. Even in OP's post, he pointed out that gambling addiction is more of a psychological problem, and I agree 💯.

With this, I am of the opinion that psychology should be taught alongside bankroll management.

[Achalugo BTC]

I agreed with you to an extent, because mindset has kept many down ,once they loses ,their mind immediately tells them to gamble more frequently as to get back the wins ,one began  to chases loses unknownly ,this things works with our mind,but if we are psychological alert ,some mistake we made wouldn't have been made,so that is why I feel psychology need to be added to gambling, because it's going to help many not to fall into desperation towards gambling.

You are right but its already part of us, its just left for us to use it protect us and to harm ourselves because psychology works in two ways, its either for good or for bad and what can be of help to us to stand firm in doing the right thing, its by being aware of the risks or the consequences one may face if they decide to chase after their losses or go against the rules when they know its not right for one to do so, as this mindset helps them to make good decisions in order for them to keep the fun intact.

[Somegory]

I was staring at the Bitcoin chart, and it got me wondering. Can psychology be used in gambling just as it is in trading?

When people mention gambling, all they think about is luck, luck, and luck. To a large extent, they are right. But what they fail to understand is that psychology can also play a role in gambling. It deals with the mind, and everything about your mind is powerful.

You can see two different gamblers use the same strategy and end up with different results. That's to say their mindset is different. Not forgetting losses, I view people who chase losses as having more of a psychological problem than a gambling one.

I think, for one, psychology should be taught alongside bankroll management. What us your view on this?

Psychology can play a role in your gambling decision, no one iss going to argue with you on this forum sure but don't compare gambling with trading, psychology on trading is even different because you have tools at your disposal.

In gambling you have nothing, so both can't be compared, all you are left with is your psychological thinking and luck, but believe me many have tried it and it makes no difference.

Since you believe in psychology in gambling, how far has it work for you? Let's see some results of yours maybe it can confuse me that psychology does work with gambling.

[liasbaa]

Bankroll is important in gambling. Although psychology is relatively important, it is not very effective for most gamblers. Psychologically, you may want to stop gambling many times, but most of the time you will not be able to stop gambling because you have enough funds available. Psychology will not allow you to stop gambling at the right time because you have the funds and your mind will want to gamble more before going bankrupt.

Developing a habit of being patient in gambling can help you to bet less, but excitement will not allow you to stop at the right time because you still have funds in your portfolio. In reality, bankroll management is most important to maintain control in gambling.

[Don Pedro Dinero]

I was staring at the Bitcoin chart, and it got me wondering. Can psychology be used in gambling just as it is in trading?

Yes, to lose money just as quickly, if not more so.

When people mention gambling, all they think about is luck, luck, and luck. To a large extent, they are right. But what they fail to understand is that psychology can also play a role in gambling. It deals with the mind, and everything about your mind is powerful.

Couldn’t you have come up with anything more daft to say?

You can see two different gamblers use the same strategy and end up with different results.

Not really. For a start, talking about 'strategy' as it applies to gambling in general is a fucking joke but as far as the results are concerned, if the sample is large enough, they will be the same.

[YellowSwap]

Do what's best for you, I am not going to say that psychology can't work for some people since I am not in anyone's head but my advice is sticking with what you can afford to lose, either you having psychological advantages or not.

Imagine relying entirely on your psychological capability and you go and risk alot of money then you lose it all, what are you going to do then? You don't have to be a scapegoat before you learn.

Whatever you may think you have as strategy, make sure you risk only what you can afford to lose, that's a preparation to whatever may happen later, it's for safety purposes.

[Natalim]

I think, for one, psychology should be taught alongside bankroll management. What us your view on this?

Psychology is the ability of someone understanding himself, developing self-knowledge and how his emotions impact him on daily life. That is something people should learn on every aspects of their lives, as psychology is related to everything. The problem nowadays is that many people don't know why they act like they are doing and why they are doing things they do. That is an example of how modern life works on automatic mode, through impulsiveness.

I believe it goes beyond managing a bankroll properly. It's about finding out why you are gambling, what you expect from it and how it relates to who you are.

Understanding psychology is just as relevant as knowing how math works in gambling. So its like turning luck into a player advantage because he's no longer gambling just to play the game's probability but he can manipulate his opponents, maximize his emotional control, and even mitigate risk in which applying bankroll management adds bigger advantage.

So ultimately, psychology works highly relevant in gambling. And if you have mastered psychology, the chances to perform better with gambling outcomes are definitely undeniable.

[Exitoral]

When people mention gambling, all they think about is luck, luck, and luck. To a large extent, they are right. But what they fail to understand is that psychology can also play a role in gambling. It deals with the mind, and everything about your mind is powerful.

Couldn’t you have come up with anything more daft to say?

I don't see why my post would warrant you to ridiculing me. You can air your opinion without indirectly insulting me. All you did was attack my post without pointing out why you think it is wrong. This shouldn't happen to anyone else again. Please mind what you post.

I was staring at the Bitcoin chart, and it got me wondering. Can psychology be used in gambling just as it is in trading?

Yes, to lose money just as quickly, if not more so.

Understand my argument. I am only implying that psychology can provide a meaningful advantage in gambling. I am not implying that psychology changes the odds of the game or winnings.