5 Mental Responses That Will Make You Lose Money - page 5.

Virtual miner

sr. member

Activity: 728

Merit: 275

Quote from: aencarnaci on May 14, 2018, 03:02:39 AM

Quote from: Supercrypt on May 10, 2018, 09:48:52 AM

Quote from: NeuroticFish on May 03, 2018, 05:55:02 AM

I think that the main reasons are:
* gambler forgets that this is not a way to earn money, it's a way to spend time in a nice way.
* gambler tries to "recover loss"
* gambler believes that a winning scheme he has read about really works

That first one is basically the main thing that is applicable to almost every gambler based on most of the things I have always read on this forum and that my bro is one thing that is worrying. As long as they have that first wrong mentality, there is no way the remaining two will not always come to play ?

The fact that they ended up thinking they will win no matter what since they want to earn from gambling will make them to keep pushing themselves more even while losing so much and hence subject them to trying to recover losses and trying t find better ways to want to win their money back as they end up losing everything.

I am also of the opinion that gamblers’ minds must be filled with false hopes of becoming rich or else why would be they this much desperate that betting home and family members also appears nothing to them. They are after money and money is very addictive. A person who loves money does not even love himself. Gambling basically triggers greed and laziness in player.

According to me the main causes are:
1. Ego: I've seen this be the downfall of what otherwise may have been a good professional gambler. Until you have won 10 million or more gambling, check the ego at the door. If you have reached this level of success than why the need for the ego
2. Emotions: This one is key. You must not let the highs and lows affect you. If you cannot do this than you need to find another profession.
3. Focus: If you are distracted with other activities, people, family or problems you will not be able to give gambling the attention it requires
4. It’s not about one big win: For an average person, their idea of gambling is the thrill of getting one big win, so much so that they don’t care if the odds are not in their favor. This makes them lose.
5. Confidence: If you are not confident in your ability to make a substantial amount of money out of gambling then you may as well give up before you even start.

iluvbitcoins

legendary

Activity: 2198

Merit: 1150

Freedom&Honor

Quote from: ?? on ??

The raising stakes one is definitely one a lot of people fall victim to. I have even been a victim myself numerous times over the year, e.g. I'll just keep doubling up until eventually I win.... Until I get an unlucky streak and lose a lot of money. People need to understand statistics, they assume that they are the only score that matters, when in reality they are part of a cohort of people which constitutes the average. Just because extraordinary events seem unlikely to a single person, across a cohort it is quite possible, and the more times you double up, the more chance you're going to get screwed.

I agree this one is the worst of all.

All the others make you lose your bank, but this one makes you get a mortgage and gamble your house away in the belief you're going to break even.

I've lost almost a BTC with this Angry

aencarnaci

sr. member

Activity: 448

Merit: 281

Quote from: Supercrypt on May 10, 2018, 09:48:52 AM

Quote from: NeuroticFish on May 03, 2018, 05:55:02 AM

I think that the main reasons are:
* gambler forgets that this is not a way to earn money, it's a way to spend time in a nice way.
* gambler tries to "recover loss"
* gambler believes that a winning scheme he has read about really works

That first one is basically the main thing that is applicable to almost every gambler based on most of the things I have always read on this forum and that my bro is one thing that is worrying. As long as they have that first wrong mentality, there is no way the remaining two will not always come to play ?

The fact that they ended up thinking they will win no matter what since they want to earn from gambling will make them to keep pushing themselves more even while losing so much and hence subject them to trying to recover losses and trying t find better ways to want to win their money back as they end up losing everything.

I am also of the opinion that gamblers’ minds must be filled with false hopes of becoming rich or else why would be they this much desperate that betting home and family members also appears nothing to them. They are after money and money is very addictive. A person who loves money does not even love himself. Gambling basically triggers greed and laziness in player.

Kevin77

legendary

Activity: 1652

Merit: 1057

Quote from: Juggy777 on April 29, 2018, 10:37:28 PM

I believe a better explanation to this is summed up in what you give you receive. The universe only gives you what you think, so if you go to a casino and think oh well I'm gonna loose but let's try chances are you'll loose. However if you go in with this affirmation today I'll win and I'm in the winning league then you see it'll happen. Give out positive affirmations and it'll work like a charm.

That is the main mentality that makes a lot of people always end up losing big and not just losing big but getting addicted. I understand that you need to apply the law of attraction if you are really looking forward to win, but if you apply just that, then you are going to be heading yourself for destruction.

It is always important to always apply the law of reality as well, knowing that the chances of losing is still high irrespective of how much you really wish you win as this would help you keep your mental and emotional check balance.

BitSat

sr. member

Activity: 700

Merit: 251

Quote from: SushiMonster on May 11, 2018, 02:16:57 AM

Quote from: Monnt on May 11, 2018, 01:44:15 AM

Quote from: joebrook on May 09, 2018, 07:48:11 AM

I quite agree with the “ what goes up must come down” mentality because it’s one of the things that most consistent in the world and it doesn’t only apply to gambling but a lot of other scenarios as well.

That makes sense. Yes this mentality works out at every moment of life. Whatever field it is, what conditions are there, but still what goes up and to come down. This is how this world is running since the first day. Everything would see the best of its charm and shine and then it has to see the weird and worst of its other side. Gambling contains more coming down than going up.

Not even in just gambling, just like you said. That's just how the world works and it is going to be fair. To make sure there is a balance in life. That's just how I see it.
Gambling is great but you need to have control of yourself and make sure you know what you are doing.

Gambling is great but as you said its need control which is difficult in many cases some time peoples react very quickly after lost and try to recover which is more danger because in this case mostly we lost more then we expect its happen to myself many times now trying to avoid this all which is good but if you trying again then you are going to lost again

fullhdpixel

hero member

Activity: 2828

Merit: 611

Quote from: farwellbit on May 10, 2018, 05:36:38 AM

Quote from: mostcrack on May 03, 2018, 09:52:04 PM

I believe that by increasing the bet it is the most wrong thing, which means losing a lot of money, gambling will greatly make your patience very tested, especially in the mind, do not expect to win if his patience is uncontrollable or very emotional to earn more money not with clear mind.

There is no patience in the mind because the gamblers are always greedy and they want to win more and more, and thus they lose all their money. A gambler will never be mentally relaxed rather he wins or loses. When he wins, he wants to win more and when he loses he wants to win back his lost money and thus the result is tension mental distortion.

Greed of more money is the ultimate reason which makes gambler an addict. And definitely, when he is earning some money from gambling without putting many efforts then how can he leave gambling because other works need a lot of efforts and after doing a lot of hard work you get your money. So the gamblers can’t show patience because they are earning easily from it.

wuvdoll

legendary

Activity: 1442

Merit: 1025

Quote from: Kprawn on May 03, 2018, 11:38:01 AM

I think one of the most common reasons why people lose money, is because they think they can beat the house. These sites have

a house edge for a reason. Your chances of winning something increase with every percentage that the house edge is lower than

the previous sites you gambled on. So you will have to compare gambling sites based on their house edge to increase your odds on

winning something. Gamble for FUN and you will lose nothing, because you would have spend that money on other entertainment

in any way. Do you lose money when you pay for a movie?

You are not wrong bro, but I always wonder whether they think the house edge is there for charity purpose for them to think that way. The main essence of the house edge is to make money at the detriment of those who are greedy enough to be looking for what they cannot find in gambling.

Personally, I expect people to always see gambling as a way to pay to have fun which you can be lucky to win something in the process if your luck deemed it fit, but people usually do not always get it.

BillCoin

sr. member

Activity: 476

Merit: 259

Quote from: Monnt on May 11, 2018, 01:44:15 AM

Quote from: joebrook on May 09, 2018, 07:48:11 AM

I quite agree with the “ what goes up must come down” mentality because it’s one of the things that most consistent in the world and it doesn’t only apply to gambling but a lot of other scenarios as well.

That makes sense. Yes this mentality works out at every moment of life. Whatever field it is, what conditions are there, but still what goes up and to come down. This is how this world is running since the first day. Everything would see the best of its charm and shine and then it has to see the weird and worst of its other side. Gambling contains more coming down than going up.

Yes, but OP is talking about the mental affect of losing money, which leads the gambler to lose more money, and sometimes for even losing more money they he can afford to lose.

Psychologically, the result of a gambling bet affect the person's mind, a winning result may make him feel like he has something that other gamblers don't have and it makes his self confident to go up, this thing is dangerous because it usually makes him keep betting, and even if he loses the bet he may think that it was due to being very unlucky and that it won't happen again.

SushiMonster

full member

Activity: 305

Merit: 107

I'm going to eat your cookies

Quote from: Monnt on May 11, 2018, 01:44:15 AM

Quote from: joebrook on May 09, 2018, 07:48:11 AM

I quite agree with the “ what goes up must come down” mentality because it’s one of the things that most consistent in the world and it doesn’t only apply to gambling but a lot of other scenarios as well.

That makes sense. Yes this mentality works out at every moment of life. Whatever field it is, what conditions are there, but still what goes up and to come down. This is how this world is running since the first day. Everything would see the best of its charm and shine and then it has to see the weird and worst of its other side. Gambling contains more coming down than going up.

Not even in just gambling, just like you said. That's just how the world works and it is going to be fair. To make sure there is a balance in life. That's just how I see it.
Gambling is great but you need to have control of yourself and make sure you know what you are doing.

Monnt

legendary

Activity: 938

Merit: 1002

Quote from: joebrook on May 09, 2018, 07:48:11 AM

I quite agree with the “ what goes up must come down” mentality because it’s one of the things that most consistent in the world and it doesn’t only apply to gambling but a lot of other scenarios as well.

That makes sense. Yes this mentality works out at every moment of life. Whatever field it is, what conditions are there, but still what goes up and to come down. This is how this world is running since the first day. Everything would see the best of its charm and shine and then it has to see the weird and worst of its other side. Gambling contains more coming down than going up.

Roboabhishek

hero member

Activity: 882

Merit: 528

That's true but the forum post didn't include Die hard greed and addiction towards gambling perspective.

Quote

When we get a pretty good streak and reach a very decent Bank, most times we make a dumb bet and lose a lot.

Took from the forum

This is the main reason why I've lost a lost of $$ when I was gambling in the past not being able to stop yourself and going for a small bet if lost then trying to recover it.
It recovery fails whole balance is gone.

It does include

Aversion to Loss & Raising Stakes

el kaka22

legendary

Activity: 3710

Merit: 1170

www.Crypto.Games: Multiple coins, multiple games

Quote from: Granxis on May 03, 2018, 11:29:07 AM

We have to realize that we are mentally gambling, so we have to prepare our mind to win or lose. Thus, we are protected from psychological harm.

That psychological harm is what we place there for ourselves. A lot of people see gambling as a way they can be making consistent living (yeah, a lot of people say that in this forum), and when you think about how they have tuned their mentality to this direction, they have more like enslaved themselves into their own thoughts and when things are not working as they have assumed which obviously would not, then they try to find means to get out of that cage they have placed themselves, which by then it has already become something difficult to do.

Rinsend

sr. member

Activity: 784

Merit: 262

AZBI NETWORK - Multichain system

Quote from: ralle14 on May 09, 2018, 08:52:28 AM

Quote from: Rinsend on May 09, 2018, 07:32:08 AM

Increase bets?
If I see an opportunity to win, and raise the bet I think it's okay. It's so risky but when you win it, at least it can give you a lot of money.
Overall this can result in a positive and negative. Depends on someone applying it.

It's the same as raising stakes. If you can afford to lose more money in one bet it's okay. I don't prefer doing this kind of bets because it could encourage you to bet higher if you lose.

indeed this is the most risky strategy, especially if we do it with 2x bets multiples. we can lose very large, while our profit can only get the same as the number of bets at the beginning.
example: bet in the beginning of 0.002 three times our defeat runs out 0.014 and in the bet to eight we must have 0.016 which means we have spent 0.03 with win guarantee only 0.002

Supercrypt

legendary

Activity: 1554

Merit: 1054

Quote from: NeuroticFish on May 03, 2018, 05:55:02 AM

I think that the main reasons are:
* gambler forgets that this is not a way to earn money, it's a way to spend time in a nice way.
* gambler tries to "recover loss"
* gambler believes that a winning scheme he has read about really works

That first one is basically the main thing that is applicable to almost every gambler based on most of the things I have always read on this forum and that my bro is one thing that is worrying. As long as they have that first wrong mentality, there is no way the remaining two will not always come to play ?

The fact that they ended up thinking they will win no matter what since they want to earn from gambling will make them to keep pushing themselves more even while losing so much and hence subject them to trying to recover losses and trying t find better ways to want to win their money back as they end up losing everything.

Compa

legendary

Activity: 1006

Merit: 1000

Quote from: farwellbit on May 10, 2018, 05:36:38 AM

Quote from: mostcrack on May 03, 2018, 09:52:04 PM

I believe that by increasing the bet it is the most wrong thing, which means losing a lot of money, gambling will greatly make your patience very tested, especially in the mind, do not expect to win if his patience is uncontrollable or very emotional to earn more money not with clear mind.

There is no patience in the mind because the gamblers are always greedy and they want to win more and more, and thus they lose all their money. A gambler will never be mentally relaxed rather he wins or loses. When he wins, he wants to win more and when he loses he wants to win back his lost money and thus the result is tension mental distortion.

It's a wrong in gambling if gambler are always greedy and not patience to play in gambling.
I think that Need to control yourself in gambling, dont be greedy and patience this is the key to survive in gambling.

farwellbit

full member

Activity: 287

Merit: 102

Quote from: mostcrack on May 03, 2018, 09:52:04 PM

I believe that by increasing the bet it is the most wrong thing, which means losing a lot of money, gambling will greatly make your patience very tested, especially in the mind, do not expect to win if his patience is uncontrollable or very emotional to earn more money not with clear mind.

There is no patience in the mind because the gamblers are always greedy and they want to win more and more, and thus they lose all their money. A gambler will never be mentally relaxed rather he wins or loses. When he wins, he wants to win more and when he loses he wants to win back his lost money and thus the result is tension mental distortion.

Natsuu

full member

Activity: 1148

Merit: 158

★Bitvest.io★ Play Plinko or Invest!

Quote from: Cacingkemi on April 29, 2018, 09:48:30 PM

Already this week I was treated by all five such responses,the running bot system made me do it and the result lost my money more.Thank you for giving me good benefits I will rearrange my feelings and strategy for win Reading the article is very useful.

Oh that's bad brother and I hope you already move on with that. I wonder what made you come up to that? I bet something bothering you that time so your mind is not that calm.

I believe in raising stakes because gamblers are greedy so the more they raise stakes the more they expect winnings nor money. And we raise stakes the more we won and don't want to break the momentum. And that won't help either.

Webetcoins

hero member

Activity: 2100

Merit: 546

Leading Crypto Sports Betting & Casino Platform

Quote from: ralle14 on May 09, 2018, 08:52:28 AM

Loss aversion is what made me lose money before. I always bet on heavy favorites thinking they'll always win once I start losing it made me realize that those kind of bets are not worth. Thanks to my past betting experience i'm not afraid to take risks and expect to lose more than to win.

Quote from: Rinsend on May 09, 2018, 07:32:08 AM

Increase bets?
If I see an opportunity to win, and raise the bet I think it's okay. It's so risky but when you win it, at least it can give you a lot of money.
Overall this can result in a positive and negative. Depends on someone applying it.

It's the same as raising stakes. If you can afford to lose more money in one bet it's okay. I don't prefer doing this kind of bets because it could encourage you to bet higher if you lose.

When luck is your opponent, then I am also against the idea of raising up one’s betting amount because all this will do is bring more loss. Only because a person can sustain pain does not mean he should punish himself with that pain. It is better to play with very small amounts and never let this thought cross your mind that raising up amount will recover the loss or benefit in any way.

mostkey

sr. member

Activity: 742

Merit: 253

Quote from: Aikidoka on May 07, 2018, 12:10:13 PM

I strongly agree with these mental responses. And the most arguable thing is the false expert belief. As a matter of fact, we as humans can be overconfident that can lead us to our downfall. That is why we should be confident and playing in a smart way. Otherwise, when we lose, we will get a shock that can be a way to depression because we were 100% sure that we would win. That is why we should expect the unexpected.

it would be better if we prepare speculation or ways to anticipate if we find the worst when we do gambling.
safe steps
- stop and resume at a later date.
- take a break and find the best strategy to conquer the game
- multiply bets with unlimited bankroll

Well, maybe that's the way we need to do it

yoseph

sr. member

Activity: 868

Merit: 266

Quote from: ralle14 on May 09, 2018, 08:52:28 AM

Loss aversion is what made me lose money before. I always bet on heavy favorites thinking they'll always win once I start losing it made me realize that those kind of bets are not worth. Thanks to my past betting experience i'm not afraid to take risks and expect to lose more than to win.

Quote from: Rinsend on May 09, 2018, 07:32:08 AM

Increase bets?
If I see an opportunity to win, and raise the bet I think it's okay. It's so risky but when you win it, at least it can give you a lot of money.
Overall this can result in a positive and negative. Depends on someone applying it.

It's the same as raising stakes. If you can afford to lose more money in one bet it's okay. I don't prefer doing this kind of bets because it could encourage you to bet higher if you lose.

It’s all because the gambler wants to make sure he will be able to win back the money that he/she have lost in the previous bet but almost all the tine it doesn’t end up in the favor of the gambler because he just keeps on losing more and more in the following bet.

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