Want to know why we gamble in certain ways?

[concertrate]

So I've said before that I'm a finance major with an interest in behavioral finance and have noted some common phenomena between investor behavior and gambling behavior. 

I thought I would do a series on some commonalities so I would like to hear if the community would be interested in learning more. It is useful to understand our biases so that we can understand why we behave in certain ways in certain situations. Complete the poll and post some of the things you may be interested in hearing about on this thread. 

[nattekut]

always interesting to read some explanation by someone that knows what he is talking about. I would certainly be interested about the similarities between investors and gamblers. I also think there are many similarities but maybe you can explain how this comes. so yes such things always interest me.

[hashrawkz]

I feel its a good initiative am waiting for the information you provide here

[cukup2]

 

I don't understand the similarity of gamblers to an investor, which I know a gambler is betting only to take as big a win in a game and an investor they are people who have big capital to save money in investments. my thoughts about investors and a gambling player are just that. I hope you can be more specific in explaining it.

[jualid]

I vote yes, i want to know what is your thought about this case from a person that major on finance, i'm sure it will be a good information to us as a gambler. Thanks before!

[Kate]

Well yeah why not ? Why not just share it because it would be an interesting readto all of us and especially traders like me and @nattekut since then we would know if we doing something wrong 😛

[Enzo]

I'd very much like to learn more about why we gamble the way we do.

I was actually hoping you would have already shared with us a little knowledge on it by the title.

I'll be looking out for your first post.

[concertrate]

On 12/12/2018 at 8:27 PM, concertrate said:

At uni I did a research project on something called the disposition effect. This is the theory that people sell off their winners or profitable stocks before the peak and hold on to the losers or loss making stocks too long.

 

I see something similar in my own play. When I tend to cash out or withdraw or even just stop for the day, it is usually when I’m only a little up, but when I’m on a losing streak I keep chasing and chasing in the hope that it will turn and then eventually bust. This is clearly not optimal, but it is human behavior that was shown to be present in certain exchanges in more developed countries.

Interested to find out if you do the same or if you’re disciplined enough to cut and run when you’re sitting on some fat profit!

Thanks for the feedback peeps.

 

For those of you that are interested, here is a small bit I wrote on one bias. In the coming week I'll try and put one up every couple of days at least... 

Keep an eye out... I'll try to keep it fun and interesting 

 

[Angelia1994]

I think gambling and investment are the same. The sole purpose of gambling and investment is to make a profit. Our life is also a gamble
 

[wngo123]

When I have small balance I gamble more careful, but as soon as i reach bigger balance I tend to take more risks because i say to myself that I have a lot of money now so it's ok if I make more mistakes. It works sometimes but only if i don't put my bet amount too high because lower bet amount the more mistakes you can make and get away with that. It could be frustrating because when you have high balance you want to move faster, but trust me the stake will really reward you when you take smaller bet amount and take higher risk then you can even get very good results you wouldn't imagine where possible so easy. For example with 1000 satoshi you can win 50k or 100k easy on HiLo just need to focus and try many times. lol 

[CntryBoy]

On 7/20/2019 at 8:14 AM, nattekut said:

always interesting to read some explanation by someone that knows what he is talking about. I would certainly be interested about the similarities between investors and gamblers. I also think there are many similarities but maybe you can explain how this comes. so yes such things always interest me.

I agree and am also interested in the similarities between investing and gambling from someone who has a clue on the subject.

[yololife222]

Hey, its always fun to know and read how people gamble and there strats, i always ussually play the strats what people hawe told me on forum once got in profit.  

[blueprints]

That would be very nice to read but seeing as how you did not really mention a single drop of credible info on the subject, i cannot help but doubt you can even write such a informative topic. 

But would be nice. 

[Menang]

I love to read about relation between gamble and investor. maybe I can change my wrong perception so far

[concertrate]

Here is the intro for the series. Feel free to check it out.

 

@blueprints I have included a bit at the bottom especially for you

 

 

[dkpiiit953]

 

Hello, yes I would like to know, how to profit or adapt my bets?

[SLFJ]

I thought I would do a series on some commonalities so I would like to hear if the community would be interested in learning more. It is useful to understand our biases so that we can understand why we behave in certain ways in certain situations. Complete the poll and post some of the things you may be interested in hearing about on this thread. 

That's a simple answer, because we have different thinking styles and we manage ourselves and our gambling in a lot of whole different ways than you think.

[williamshennie9]

I suppose it comes down to personal preference and risk appetite. I mean, personally I hate hunting high multipliers. I fell much better playing dice 2x or blackjack than playing plinko high risk as an example.