It got me thinking to how this can be applied in gambling. I know that almost all kinds of gambling require some sort of sacrifice and some risk taking but the levels vary. Do you reckon it is better to not risk that much in gambling and just keep playing low risk games and win even small amounts or do you always think that taking big risks is always the way to go?
Taking big risk will lead to catastrophe as you said if the game doesn’t go in your favour. Whether taking big or small risk, it has to be in the same perception of you having not risk more than you can afford to lose. Your big risk in a game may be someone’s small risk and can lead to your own doom if you can’t handle the big loss.
Sacrifices in gambling doesn’t mean you should risk more than what you can afford to lose, it means you should be able to risk that amount of money in you and still have something to fall back on even if it doesn’t go in your favour.
Everything is risky even in business but your risks should not be what will take you down totally if things doesn’t work in your favour, it has to be something to make you outgrow the previous loss and be more logical the next time you’re risking something for a profit seeking sake.
Gambling is way beyond just risking to make money, it is highly risky, addictive and hard to predict the outcome and that’s why it is been referred more to as a luck game than having to learn it and be profitable in it with the knowledge acquired about it.