Topic: As a gambler do you have a potential winning amount limit? - page 12. (Read 3031 times)

Wow, the number of biases and flawed thinking gamblers subject themselves on is huge, while I was aware of all of them, when I saw them listed it really makes you think about the mistaken beliefs in which gamblers base their decisions.

Now this explains a lot about why those which gamble for fun can keep themselves in check with ease as they are aware of all of those biases, while those that think that they can win are literally blinding themselves to the truth by making all kind of false assumptions.

If Obviously getting money from the game is something super difficult and it can't be denied, when we play we can't deny that we try to get a good profit that turns into good money, then if we can't do something like have a control of what we can spend and win daily, we will obtain a number that obviously we do not have to be so believers that the very same Results (if they are not good) we must obtain them the Same or better the next day, because that would be a total fallacy, in the casino the things are very given to randomness, and to say that any ocass can Happen , just as it was won, you can lose everything Tomorrow and things are like that, you cannot have a clarity in the statistics, unless you have a balance willing to lose and do the experiment and that by following some game techniques, be Completely Concentrated and not get carried away by other things , or anything , just be very Concentrated in the game , Obviously take care of the Balance because if he Invents to Play more than What is due when Running out of Capital ends Everything.

In addition , I have to think that when things are not done like this, we must take care of something that affects the players a lot and without realizing it, which is addiction, one should not play in a crazy way, because the one who plays in a Crazy way lets it pass many things, including opportunities that can arise in the game and by playing badly you can lose and when you lose you lose money, and that is not what you are looking for, apart from having fun the people you are looking for is to earn money, since that is the best Combination of all, Combine good fun with money so that it can be something Completely full and Complete.

A person who plays in a casino before Playing if they have a balance willing to lose, because there is no problem once it runs out and they fail to win, because they lost the money they allocated but they took the Satisfaction of playing, in Change if you win, because it is up to the person who is going to do with the Money, if you withdraw it or continue gambling, although my advice will always be, if you made a profit, then withdraw the money, so that you can enjoy it, and I took advantage of it that way, because there are cases where the horse Continues to play to Increase it and they end up Losing Everything.

Other than that, we need to have a broad mind to see what is the reality that we're currently facing because without that, we are just betting with the hopes to achieve the almost impossible target without knowing the possible consequences because we didn't weigh our factors correctly.

There's nothing wrong in setting a much higher target, what's wrong is that we don't know if it's still a reality to us or not. We should only achieve the ones we know that are possible so that we are not chasing the clouds and in the end got nothing but losses.

You said it right. Daily wins will vary, and I agree with that. At least if they have a target of reaching the win limit, they need to adapt to the conditions and don't need to have a win target that is too high, especially if we have lost several times. That will make it difficult for us to get a victory or reach the victory limit we want because, on average those who try it will fail before they can get close to it.

And it is true that the key to success is self-control and knowing the current situation to decide wisely. We need to see how far our condition has gone while gambling for a while, and if we have lost a few times, maybe we need to stop for a while to de-stress so we can think about continuing to play or stopping gambling for the day.

Gamblers often fall prey to a range of cognitive biases and fallacies that influence their betting behavior. Some common gambling fallacies include:

Gambler's Fallacy: This is the belief that if something happens more frequently than usual during a given period, it will happen less frequently in the future (or vice versa). For example, if a coin lands on heads five times in a row, the gambler might wrongly believe that tails is "due" to come up next.

Hot Hand Fallacy: This is the opposite of the Gambler's Fallacy. A player believes that because they've experienced a string of wins, they're on a "hot streak" and more likely to win again.

Near-Miss Belief: When gamblers come very close to winning (e.g., two cherries in a row on a slot machine with three needed), they overestimate their chances of winning in the future, thinking they are "getting closer" to a win.

The Illusion of Control: Some gamblers believe they have control over a purely chance event if they perform certain rituals or behaviors, like blowing on dice or using a "lucky" slot machine.

The Monte Carlo Fallacy: Named after a famous episode at a Monte Carlo Casino roulette table in 1913 where the ball fell on black 26 times in a row. Despite the odds, many bet against black, incorrectly assuming that a long streak of one color made the other color due to appear.

Overconfidence Bias: After a few wins, gamblers may overestimate their skill level and think they're better at the game than they truly are, leading them to make larger and riskier bets.

Sunk Cost Fallacy: After losing money, some gamblers feel they need to continue gambling to "recoup" their losses, even if continuing is not in their best interest.

Selective Memory: Remembering wins more than losses. This bias can lead gamblers to overestimate their chances of winning based on past "successes."

Superstition: Many gamblers have rituals, lucky charms, or specific routines they believe will bring them luck, even though these practices have no bearing on the outcome of a game of chance.

Attribution Error: Believing wins are due to skill and losses are due to bad luck. This can lead gamblers to overestimate their abilities.

These fallacies and biases can be very powerful and can lead gamblers to make irrational decisions.

Chances that gambling business will not boom like this if there are more responsible gambler compared to those who easily got attached with the wrong interpretation that they easily make money from this venue of business, gamblers who failed to control their engagements and have that wrong impression with how gambling works.

The time you realize that you can't beat the house, I mean you can't take all the money away from the house and start enjoying small wins that may give you the upper hands against gambling/casino house.

By reading the experiences that have happened to you, I agree that someone who has experienced a win with such a large value will most likely be greedy for the results he gets with the aim of increasing continuous wins in gambling, but he does this without realizing it. he had made a mistake. which will have a bad impact on yourself, for example, some of the money earned before is not saved and then to gamble again, the money actually disappears altogether. It was indeed very difficult for someone who had a greedy nature. Maybe with self-control we will not be able to change that character.

Most people have a winning limit before starting to play,I also had a play limit yesterday,I got from 16 to 250 dollars and I should have withdrawn because as soon as I reach 150 dollars when starting with a low balance I withdraw.Yesterday though greed got the best out of me and thought to go further and I ended up losing everything and soon after regretting it a lot as it looks like I just threw away 250 dollars so that is really bad result.Most people go and do the same like I did yesterday and they lose also,so the human nature is very fragile where greed and envy are harder to control that the self control which would let us withdraw when we reach our winning limit.

There are actual people who treats gambling as one if their source of income but those people are really talented on gambling like professionals who play at high ranking tournaments but I'm sure that those professionals don't rely on gambling money they earn from winning on gambling but surely they have other source of income like businesses and  brand partnerships. Gambling should be treated as a source of entertainment for majoirty of us but people tend to exceed that like making it a career which is absolutely a very risky move.

Well,it is just nothing but plane laziness and lack of plan and vision that will make a full fledged and able body man or woman to turn to gambling as a source of income , it's one of the biggest mistake any body can make if you ask me, gambling is not a profession, it's one of those type of recreational entertainment, it's something that should never take the place of work or business in our lives , gambling should ultimately been seen as a means of just having fun , and should be done only in our leisure time , the fact that gambling offers us the ability or chance to win money should never be a reason for it to be taken a source of income .

Getting money from gambling is obviously very difficult, even though we have many strategies. But we can get wins from gambling even though the numbers won't be the same daily. But yes, I agree with managing the money we can afford to play gambling so that we don't lose a lot of money while gambling and don't end up spending all the money because we have clear limits in gambling. But if we have a winning target that we want to achieve, it might be more difficult because in gambling, there will be wins and losses and we might experience more losses than wins. So we should be able to think again about the winning target we must achieve in gambling. Is it worth trying or do we have to eliminate that winning target and only gamble for entertainment?

It is good to have good self-control because it can prevent him from losing a lot of money in gambling. Apart from that, he can also avoid gambling addiction that can come at any time so that he won't experience too many losses either. When we play gambling for too long, we have the potential to lose beyond our expectations, so we might not be able to get any wins at all. We have to think about this carefully so that we don't go the wrong way in gambling and can stay on the right track.

Yes, that's right, that gambling will not always run smoothly and sometimes there will be problems in it. I also agree with your opinion if someone makes gambling a daily source of income, it really doesn't make sense in my opinion. Therefore, apart from gambling, it would be nice if someone also had a basic income, for example with a job where we get paid once a month.
And someone who plays gambling must be able to discipline time and be able to control the money that will be at stake, so that we are ready to accept any risks.

Well, when it comes to doing things to play and get a lot of good profit, you have to do a lot of strategies, since in the game I get tricky to talk about daily earnings, I don't dare because it's something very delicate to do, without However, what I always do is manage my money that I am willing to lose, because it is difficult to have an illusion of what should be earned, because that objective is not always reached, and then the objectives begin to accumulate, because If I don't manage to do what I should have done one day, on the other day I have to do it I swear so that I don't get tied down and that is something that is difficult to do, then that can easily turn stress into a passion, because when it comes to money, fast results are needed and they are efficient, but it is something that is very difficult to calculate, at least for me I cannot do it, I would not like to do it either, because it is easier to tell that one has money willing to pay for a casino or something like that.

Now things when dealing with casino winnings, and especially gamblers, well the truth is very curious, because I believe that some very few tell the truth about their game, I don't feel sorry or ashamed, I know that I have lost more than what I have won, but at least I have learned, I have experience , I control myself, I have not fallen nor will I fall into addiction, because one already understands what the casino system is like, in this aspect I believe that things can happen that way, but there must be successful players, players who are successful on the machines, but then things when it comes to sports betting, well, things change, because there you could have more chances of winning, according to what is known, apra My sports betting depends to a large extent on Knowledge , and not only on betting by pure luck , it is something like what they do Trading.

If a person works and gets a month's salary, he should be able to allocate his salary to the right place. If he also has a gambling habit, he must be very disciplined in allocating his money for gambling and have a specific budget for gambling so as not to cross the line. Spending on entertainment is not too big for me because I don't often go anywhere or use the money for entertainment. What's important is that when I gamble, I don't put too much money in my gambling account to keep myself from exceeding the limit, and I still enjoy gambling. Besides that, I don't gamble too often, so I don't have a goal to achieve a win and just enjoy my free time.

back to what I said earlier that it all depends on the mindset of every gambler. if gamblers have more realistic thoughts I think there is no gambling addiction but in reality there are still many ordinary gamblers who enter the addiction zone because they think about the benefits of gambling and usually this happens to new gamblers who are just getting to know gambling without knowing how gambling works and just thinking if gambling is the right place to get money quickly.
maybe if all gamblers realized how the gambling business works i think there would be no addiction and also the gambling business would go bankrupt. I mean this has indeed become the goal of gambling to make people out there interested think instantly giving ads about big wins so that people who watch these ads will think if betting on gambling can make money fast.

Always prioritize needs for your family and yourself. If you can, not including them in your budget is better because the best decision is when you have extra money. That is where you are getting the money you are betting. Though if your salary is big, then that is good, but like us who only survive on a monthly basis, we can't include it in a budget. I can only gamble when I have extra money. So it really depends on how much extra money you have, and that is where you get a percentage on it.

As for me, I don't need to continue betting according to the weight of my financial needs; I believe in taking any amount that comes out as potential because if I always bet according to my financial needs, I believe that it will be hard for me to win. Regardless, gambling is all about luck, and there are no guarantees that if you play, you will win. Let's use sports betting as an example: if you stake on like three or one team that you believe has an 80 percent chance of winning, someone will hardy lose, and gradually, someone will be making some money, but when you pick many matches that you don’t even know about, you will find it very hard to win, and someone may not even get the luck he is dreaming of throughout the time he may spend on betting. The best way to bet and make money on sports games is by betting on what you have 80 percent assurance for.

In fact it is not like that, gambling is designed for profit (for the owner of the casino) and for gamblers, it is being used as the fastest way for them to double their money.
There is no gambler who is gambling to have fun as the 1st purpose and winning/earning placed at the 2nd purpose.
Maybe some gamblers say that they are gambling for fun only but I doubt that they are saying it honestly because I believe that their main reason to gamble is to risk their money to get more money.
It is undeniable fact IMO and it is also absolutely their own right to do so but for me the most important thing is that gamblers should control themselves even if their main purpose is to make money from gambling.

A bad interpretation that if by luck you can quickly double or you earn a lot with gambling, forgetting the facts that gambling is a business and casino owners will always find that edge against the gamblers, maybe you can make some but in the long run you will suffer and chances of losing your money is unavoidable.

It's your take and on how you will take care of yourself while playing, both financial and mental. You need to make sure that you fully understand the risk.

you said about the fact that currently most gamblers have a bad mindset towards gambling and even ordinary people think that gambling is a bad activity. gambling has always been just a place for fun to be carried out every time there is a certain event, but now it has become a mindset of gambling to double money and this is a very bad thought.
as an example when a gambler who usually bets small amounts to enjoy each bet is like betting for fun and always has a winning limit all of that will change when greed controls our minds or is influenced by other people to increase the gambling budget and always chase big wins without pay no attention to the rules that have been made to limit the amount of winnings.