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Scraped on 21/06/2025, 20:50:07 UTC
"Taking risks responsibly" is an interesting phrase. We cannot avoid risk, and we cannot not take risks either. But excessive and stupid risk is not needed, it only brings us closer to failure. In the end, a smart player must choose a certain balance. This is how the phrase "responsible risk" is born. It may sound funny, because when you take risks, you put yourself at the mercy of the elements, you become dependent on luck. However, by adjusting many parameters of your risk, you can make it responsible. Here we can see an analogy with "responsible gaming" and a "responsible player" who knows that he is taking a risk, he does it consciously and he manages his risk as much as possible in order to reduce the risk of adverse consequences, minimize it and increase the probability of success.
Totally agree, Julien.
Really sad most player don’t follow this, most gamblers chase losses or bet beyond their means, thinking that luck will fix it next day. But true control comes if you know exactly how much you are willing to lose & stick to it.
Quote
Do you like the phrase "responsible risk"?
Yes, I like that word. It’s not just an idea, it is a survival strategy
Original archived Re: Taking risks responsibly.
Scraped on 21/06/2025, 20:45:16 UTC
"Taking risks responsibly" is an interesting phrase. We cannot avoid risk, and we cannot not take risks either. But excessive and stupid risk is not needed, it only brings us closer to failure. In the end, a smart player must choose a certain balance. This is how the phrase "responsible risk" is born. It may sound funny, because when you take risks, you put yourself at the mercy of the elements, you become dependent on luck. However, by adjusting many parameters of your risk, you can make it responsible. Here we can see an analogy with "responsible gaming" and a "responsible player" who knows that he is taking a risk, he does it consciously and he manages his risk as much as possible in order to reduce the risk of adverse consequences, minimize it and increase the probability of success.
Totally agree, Julien. “Responsible risk” may sound odd at first, like conflating control with chaos, but that is actually how smart gambling works. You can't remove the risk from root, but you can shape it. I always try to set daily limit based on my actual earnings and expenses. I never go full emotional or financial, that is my version of responsible risk.
Really sad most player don’t follow this, most gamblers chase losses or bet beyond their means, thinking that luck will fix it next day. But true control comes if you know exactly how much you are willing to lose & stick to it.
Quote
Do you like the phrase "responsible risk"?
Yes, I like that word. It’s not just an idea, it is a survival strategy