Gollum had the One Ring for quite a while before the events of the Lord of the Rings movies. It definitely deeply affected him, both in mind and body, but he did retain some agency. In a way, though, having the Ring worked out well for Gollum. It prolonged his life and he seemed to retain his strength. In comparison, Bilbo Baggins (Ian Holm) did not have the Ring for nearly as long as Gollum, but after giving it up he grew older and weaker relatively quickly. At least, that's how it happens in the Lord of the Rings movies. The books are probably a slightly different case. Yet what is the difference between Gollum and Bilbo once they no longer had the Ring? Is it just because Gollum had the Ring longer that he retained his strength? Did Bilbo grow older and weaker so quickly because he didn't have the Ring for as long, or is there another, deeper reason?
To understand the answers to these questions, it is important to understand the differences between Gollum and Bilbo as characters and how they used –or didn't use – the Ring. Gollum had the Ring for a very very long time. And during that time, he was obsessed with the object. He called the Ring "my precious" and it completely changed him, in his mind and body. Gollum wouldn't always use the Ring, not having much use for it where he was in the darkness. Though when he did use it, it probably left an impression on him. Bilbo, on the other hand, after gaining the Ring from Gollum, had it for a good amount of time but definitely not as long as Gollum. He did not obsess over the Ring, though he did appreciate its presence in his life. Especially when it came time to avoid annoying relatives coming to visit. Still, Bilbo had much more of a full life with the Ring than Gollum did.
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Bilbo had Frodo and plenty of friends inside and outside of the Shire. Gollum only ever truly had himself. Bilbo would mostly use the Ring as a sort of joke, a mischievous but not harmful way of using the Ring. Gollum, on the other hand, when he would use the Ring, ut not harmful way of using the Ring. Gollum, on the other hand, when he would use the Ring, would go find orcs or goblins to eat. That would mean slaying them. The differing ways that Gollum and Bilbo got the Ring should also be mentioned. Gollum got the Ring by murdering his cousin Déagol to get access to the Ring. Bilbo simply found it after it left Gollum and put it in his pocket. Therefore, Gollum got the Ring due to harming someone, while Bilbo simply found it and did not have to harm anyone in order to do so. The difference in Gollum and Bilbo's personalities is very great as well.
Though both of them eventually got attached to the Ring, for Bilbo it took a while. And he does willingly give it to Frodo at the beginning of the Lord of the Rings movies. Gollum, on the other hand, eliminated his cousin from the equation in order to get the Ring. And that must mean he was attached to and attracted by the Ring from the beginning. Gollum loved the Ring, but he also resented it. Bilbo, on the other hand, thought of the Ring as a useful tool and one that reminded him of his more adventurous days. He did, near the end of his time as a bearer of the Ring, somewhat dislike how it made him feel. Yet he did not seem to be as affected mentally as Gollum. Gollum never got over losing his "precious" and to the end, tried to get it back. Whereas Bilbo would occasionally think of the Ring, but would not ever force Frodo to give it to him or anything like that.
So why did Gollum retain his strength for so long while Bilbo didn't? The answer to that might lie in the differences between the two characters. Gollum was utterly obsessed with the Ring and consumed by it. Bilbo was not. Gollum had the Ring for a long time, most of which happened before Sauron regained his strength. Bilbo had the Ring in a time when Sauron was active, yet he was still able to mostly resist the draw of the Ring. And that is probably why the Ring gave Gollum some measure of strength, while it weakened Bilbo. Gollum did not fully put up a fight against the Ring. He was already a mean person and only became crueler with the Ring. Bilbo, on the other hand, fought the Ring's influence and largely retained his own mind.
The Ring, therefore, would not have seen the point in giving Bilbo any extra strength, especially since he willingly gave it up. That too would be a factor. Since Bilbo gave up the Ring to Frodo after having it for decades, the Ring would simply try to get Frodo attached to it. It would have given up on Bilbo playing any role in getting it back to its master. Bilbo fought the Ring and that is why it weakened him, because he largely held on to his own will. And that, in the end, is what any Lord of the Rings fan would want Bilbo to do. No fate could be worse than Gollum's. Of course, not every Lord of the Rings fan will agree that this deeper reason is why the Ring weakened Bilbo and not Gollum. Some might feel that the Ring weakened both of them, just in different ways. While others might think the Ring did not take into account whether or not Bilbo was fighting it. That's fine.
Yet it seems that Bilbo and Gollum reacted to the Ring very differently. And that is also shown in how the Ring reacted to being possessed by them. The Ring might have tried to consume Bilbo, but it didn't succeed. And that is a very good thing.
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