Topic: 5 Mental Responses That Will Make You Lose Money (Read 968 times)

One of the most famous casino patrons and poker players of all time Nick "The Greek" Dandolos once made a somewhat prescient remark when he observed "Remember this: The house doesn't beat the player. It just gives him the opportunity to beat himself."

If you have ever played at a real world or online casino then you'll perhaps understand the meaning of these words. Nobody forces you to play a casino game, you can quit at any time and take your money and decide to spend it on something else if you wish.
For many people this may be a good idea. There are a number of players who log into their chosen casino site almost by rote, mindlessly placing stake after stake in the belief that they will eventually hit the big one or at the very least, hit a win which will allow them to recoup their losses.

It is precisely this type of player that Nick Dandolos was referring to when he made his observation.
Unfortunately there is a proportion of casino players for whom the enjoyment of what they are doing seems to have evaporated. Instead of enjoying the games on offer at the casino, they see each session as a war of attrition; a fight between themselves and the casino to come out on top financially.

This is plainly absurd and indeed, could be entirely counter-productive. Here's why:

The casino will, in the long term, always win.
Professional gamblers have to think positively otherwise they are unable to win all the money they do. Of course, as Rome was not built in a day either, acquiring the techniques of positive thinking requires much time, patience and persistence but in return a great deal of self confidence is gained that players need to back up all their skills and knowledge. On the other hand, there is a question that may crop up. How come that obviously self confident players with a lot of trust and positive thoughts happen to lose all the time? The reply is simple: they have no skills which could be backed up by confidence. Positive thinking works if and only if, self confidence and proper skills go hand in hand. The theory is believed to work not only in talent based games like poker but also in the case of games that are based on pure luck.

Being positive is essential to ensure that after a series of bad luck or unfavourable events during the game the player is able to remain cool and reflect his strategies and learn from the mistakes he made. This is a rather healthy approach to life and also to gambling. If a player has faith and is convinced that brilliant things are to happen to him, it is more probable that they will really happen. However, if you expect to lose all the time, it is better not to start playing at all since it is guaranteed that you will get rid of all the money you invested. If so, the blame can be put only on you and nobody else. Though it is undisputable that with self-confidence the cards dealt to you cannot be influenced, but the way you handle the cards at your disposal does have something to do with positive thinking.

That why I take advantage of VegasCasino.io  (My personal favorite casino) with its practice mode and free spin  visualize myself as the winner of the tournament and as the one who is given the prize.  If it is done correctly,  I’m more probable to win than the one who is unable to foresee himself as a person who really can win the game.

No, those two things, you've mentioned, make gambling addicts out of us, but most gamblers are not addicts. Basically what you said contradicts the statistics, according to which only up to 5% of gamblers have a gambling problem of a kind. It is very important to know the facts because otherwise we can end up in a society judging by stereotypes (aren't we there already?). It is because of such way of thinking gamblers for many people are automatically associated with gambling addicts although it is not true in 95% of cases.

It is good that you have admitted your mistake and learnt from your past mistake. Going forward you will be more careful and as a result you have started setting the limit. Also do take care that this setting of limit always remain as many times people again get in flow of money and start betting without much thinking and lose all of their money.

True and its also true for all risk based reward systems. For example in trading and binary options the site will capitalize on your frustration and greed. Its how they will make money and you have fight it.

Some people think they can beat the house - but thats fake confidence without using logic. If they would be rational in their decisions they would not gamble to be a millionaire. There are other ways of becoming rich but gambling for most will be a waste of time and money if they cant control themselves.

Most of the time whenever I am gambling I always seems to rise the amount that I am gambling so that I can recoup the losses that I have made and they never seem to work out for me.

Looking back at my past gambling habits, my worst mistake was to chase my losses and increase the wager to make up for whatever money I've previously lost. Now, I simply set a limit to how much I'm willing to lose, and if I lose it, I walk away.

Greedy is a factor that will keep us active in gambling habits. When we are lucky to get profit, we tend to try to make the other profits. While we lose, we will try to pursue our defeat. These two things will usually keep us in the circle of gambling.

In simple words if you can't control over emotions being greedy while gambling then you will lose your money right?

But yeah it is pretty hard for the people who are doing gambling for the sake of money so let the gambling for it supposed to be not for making the millionaire.

I'm not sure and I also don't feel the five things are embedded in every gambler, I'm only sure that the fourth place in the OP is "Increasing Betting" and the rest I'm sure not all gamblers do it. We can categorize this bet as mental from greed because it has suffered a big loss, and to quickly restore the situation we must dare to increase the bet even though not 100% we will get a victory and only more losses will be received, because emotions that cannot be controlled properly.

These five things can not be separated from the game of gambling, all depends on the control of emotions and luck. Numbers 2 and 4 are very decisive, if you can set the right moment the big victory is in your hands. But again gambling can not be separated from luck.

That belief that you are good at it and there is no way your strategy will not keep working for you is one of the main ways some gamblers have fucked up their own minds and totally gotten so dip into gambling that they end up addicted.
This is one mental response that fuels other form of mental response like just one more go at it could make the difference until the one more go at it turns to many and losing even bigger since you keep increasing the betting amount in each case.

You can teach the people moral science for those who dont want to med their ways. People do try to help their friends who are addicted gamblers but they wont be able to any change unless the person themself takes the matter in their own hands and stop gambling. If the person is addicted they will gamble, there is no stopping it. That temptation to win the jackpot with their luck will make them roll continuously till they bust again.

However there are people who have recovered from such addicted ways.

Mainly those people are real heroes. They are playing it so clever. They don’t let you win but they win themselves. All your profits and losses are getting to them the best victory that can ever made or have. They show you best offers and fascinating packages and you see them and you become addict to this gambling thing by playing in here again and again but ultimate loss is for you.

This was the plan and now it has been executed in this case. This has been following up since long and long times. This gambling isn’t invented in this modern era rather it has been running and ruining up the lives of people for an extended numerous years. Think before what you are do and same happens here. You must know what it is. I believe you wouldn’t be going for it then.

Thats why the loss in gambling is the fault of the player and not the casino. Nobody forced the person to gamble. They did so in their own free will and hence there is no legal implication of this as well. But still there are people who start complaining when they lose money in gambling.

They think they are at the top of the world and nothing can beat then since they won some big rolls. But they forget that the green streaks are temporary and they will get busted soon.

I definetly agree that there is only ONE problem with it. Greed is answer to all these 5 responses. If you have aversion to loss, thats because you are greedy and aim for the profits. If you think you are expert but not, you are greedy and think you are good enough to be rich.

If you believe losing means the winning is about to start, that means you are greedy for the odds to change all of a sudden. If you raise the stakes, that means you are greedy enough to make your losses quicker but in your mind you think you are going to win more. I have no idea about the bandwagon one tho lol.

beliefs, schemes, and patterns in gambling are indeed closely related to each other because it is not as easy to play gambling as we imagine. Playing gambling a gambler who does earn a living from gambling with people who play gambling just for fun will have different patterns and schemes depending on the targets they are achieving.

then we need to stay away from gambling don't spend much time at the gambling site because we can lose more money. the point is we need to manage our mind and don't think about gambling and do another thing that can help us to forget about gambling. and if we can do this for every day without stop, then I think we can leave gambling forever without any chance to come back to the gambling games.

Yes that is true, when I was very addicted in gambling even I loss straight in a row I always push myself to keep on playing, the greediness I felt to win and the eagerness to get back what I've loss lead me to a very bad situation that is why now I hardly try to control myself not be addicted in gambling again.

I know that gamblers tend to think that they can do it over and over again. It's something I have experienced in when I was gambling. It was a lot of fun and I just love to continue with it. It's the feeling that makes me want to play more. Assuming that you have more balance to use, then just go for it. It's just that addiction can come anytime and especially if you received that winning "high" moment.