Dana thought he lost $80k one night and his advice for gamblers

rachael9385

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Quote from: Marykeller on October 23, 2024, 07:05:11 AM

Quote from: rachael9385 on October 14, 2024, 03:23:08 PM

One other weird part in gamble, is when you go to a casino house with the sum of $1000 and on your first bet you lost $100 from it, you won't feel bad until you lose close to $400 to $500. And you won't stop until you lose all the money or more than, this is also the reason why most of them chase their losses, and they will always lose because their mind is not settled. But some times, when you win you will not want to stop easily because you just started winning. Not knowing that the next round is not guaranteed. However, you might want to apply the same strategy you used on the next round but the simple question is, how sure are we that the next round will be successful?

It is during gambling moments that our psychological well-being is tested the most on how to resist the urge to continue or quit gambling when we have had terrible losses.

However, when someone has huge money in their hand when gambling, they don't seem to feel it when they lose a small amount of money from the money they have. When the money they have for gambling has gone half or below half, the anxiety of recovering their loss will manifest immediately for them to do their best to recover their money and quit, but that's not possible. It's either they go home with the little money they have or empty-handed

It's not every gambler that have the opportunity to leave the casino house with money. Some of them goes home with empty hands and some of them still need to be on depts before they could get satisfied and leave the casino house. So the important thing is that we should not hesitate to stop gambling immediately we noticed that we are on a losing streak. However, a gambler needs to know that it's important to gambler without emotions, because it's the only thing that ruins a gambler even though they win or lose.

Marykeller

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Quote from: rachael9385 on October 14, 2024, 03:23:08 PM

One other weird part in gamble, is when you go to a casino house with the sum of $1000 and on your first bet you lost $100 from it, you won't feel bad until you lose close to $400 to $500. And you won't stop until you lose all the money or more than, this is also the reason why most of them chase their losses, and they will always lose because their mind is not settled. But some times, when you win you will not want to stop easily because you just started winning. Not knowing that the next round is not guaranteed. However, you might want to apply the same strategy you used on the next round but the simple question is, how sure are we that the next round will be successful?

It is during gambling moments that our psychological well-being is tested the most on how to resist the urge to continue or quit gambling when we have had terrible losses.

However, when someone has huge money in their hand when gambling, they don't seem to feel it when they lose a small amount of money from the money they have. When the money they have for gambling has gone half or below half, the anxiety of recovering their loss will manifest immediately for them to do their best to recover their money and quit, but that's not possible. It's either they go home with the little money they have or empty-handed

LUCKMCFLY

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Quote from: Eternad on October 17, 2024, 08:39:51 AM

Playing slow is good to enjoy gambling or if card counting is still working because you need to play longer before just to count cards and increase the EV in your favor if you knew the remaining cards on the deck.

Right now, it’s impossible to card count so playing slow will not give you an advantage but only a good way to manage your bankroll.

Yes and that is an additional advantage for us as players, because sometimes we are in the casino and it seems like we are being chased, that we play fast and in the end we don't even know why, when you play slow it's not that your chances of winning increase, but we think more and we can use intelligence to protect ourselves, and that is something we should take advantage of, tranquility is sometimes a great ally and even more so when it comes to money, the casino is interested in us getting very excited and betting more and more, but by knowing how to bet, by knowing how to manage our money, we enjoy and increase the ways we win.

rachael9385

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Quote from: LUCKMCFLY on October 17, 2024, 08:35:14 AM

Quote from: rachael9385 on October 14, 2024, 03:23:08 PM

One other weird part in gamble, is when you go to a casino house with the sum of $1000 and on your first bet you lost $100 from it, you won't feel bad until you lose close to $400 to $500. And you won't stop until you lose all the money or more than, this is also the reason why most of them chase their losses, and they will always lose because their mind is not settled. But some times, when you win you will not want to stop easily because you just started winning. Not knowing that the next round is not guaranteed. However, you might want to apply the same strategy you used on the next round but the simple question is, how sure are we that the next round will be successful?

That's where the problem lies, from the start if you have 1000usd and you go with $100 at once that's equivalent to 10% at once, in that moment there's already an error, because starting with that percentage is a hard blow, I would start by managing at least 3% total to spend in a single game session and if I can't do anything about that 3%, then I don't insist, because losing 30usd in the whole game is never equal to $100, if you lose the 30usd you're left with 970usd where I know I'm not going to play anymore, so there are two options if I go from 30usd to 100usd I would be winning 10% reason enough for me to retire, but that's my way of thinking, each person uses their money as they want, but I think that above all one must imagine every scenario so that it doesn't happen. That is, from the beginning, a person who does that is already making a mistake, that is, he is already losing.

As a gambler that gamble with care, you might believed that betting huge money on single game is the best pattern to gamble safe, that's why many gamblers do not consider how much they wagered, all their focus is only based on how much they will win. However, every gamblers have their own patterns of prediction and wagering amount, so considering the facts that betting 10% is an error, there are many gamblers who do not agree that wagering 10% of the amount they have already planned to use for gamble as an error.
In a situation whereby you normally wager $300 on bets (per week) and someone that wagers just $50 ones in a months tells you how much he's wagering, you might say that the person is not a gambler because the money you wagers is bigger than what he's wagering.

stomachgrowls

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Quote from: bittraffic on October 18, 2024, 03:54:55 PM

Quote from: Eternad on October 17, 2024, 08:39:51 AM

Quote from: LUCKMCFLY on October 17, 2024, 08:35:14 AM

Quote from: rachael9385 on October 14, 2024, 03:23:08 PM

…

That's where the problem lies, from the start if you have 1000usd and you go with $100 at once that's equivalent to 10% at once, in that moment there's already an error, because starting with that percentage is a hard blow, I would start by managing at least 3% total to spend in a single game session and if I can't do anything about that 3%, then I don't insist, because losing 30usd in the whole game is never equal to $100, if you lose the 30usd you're left with 970usd where I know I'm not going to play anymore, so there are two options if I go from 30usd to 100usd I would be winning 10% reason enough for me to retire, but that's my way of thinking, each person uses their money as they want, but I think that above all one must imagine every scenario so that it doesn't happen. That is, from the beginning, a person who does that is already making a mistake, that is, he is already losing.

Actually, her idea is not bad if the goal is to avoid losing against the house. Gambler has a higher chance of securing profit when they manage to win on few rounds compared if you play it slow because casino always win in long game due to a lot of factors such as house edge, human error and the game mechanics itself that in favor to the casino.

Playing slow is good to enjoy gambling or if card counting is still working because you need to play longer before just to count cards and increase the EV in your favor if you knew the remaining cards on the deck.

Right now, it’s impossible to card count so playing slow will not give you an advantage but only a good way to manage your bankroll.

Whichever way we want the game will be whether we play it slow or not, we are still unsure how successful the next round will be.

I'm not sure if Dana is chasing loss because the guy can chase his loss in another way like arranging big fights in his fight nights. He is after all the CEO of the biggest MMA promotion.

Actually this wont really be that much of an issue for those people who do have tons of money. They might be losing an amount on which it is really that big for most people but doesnt mean these amounts are already enough to make them poor again. This is why they arent that much affected whenever they would really be having these loses since we do know that they could be able to catch up with it and could easily replenish those amounts lost. The good thing is about on having advises that gambling in under the influence of alcohol is never been recommended on which there would really be that affecting your decision making
not only just that limited on gambling but also in other things as well. What makes it that dangerous is that when dealing into something that involves money then you would really be putting up yourself on such big trouble.

The main difference in between those casual gambelrs into these big time millionaires or billionaires is that they do have the money to burned up but still rich in the end of the day on which for us whose really that sitting into poverty line then we are really that risking on something that we might not be able to recover ever again. Cheesy

bittraffic

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Quote from: Eternad on October 17, 2024, 08:39:51 AM

Quote from: LUCKMCFLY on October 17, 2024, 08:35:14 AM

Quote from: rachael9385 on October 14, 2024, 03:23:08 PM

…

That's where the problem lies, from the start if you have 1000usd and you go with $100 at once that's equivalent to 10% at once, in that moment there's already an error, because starting with that percentage is a hard blow, I would start by managing at least 3% total to spend in a single game session and if I can't do anything about that 3%, then I don't insist, because losing 30usd in the whole game is never equal to $100, if you lose the 30usd you're left with 970usd where I know I'm not going to play anymore, so there are two options if I go from 30usd to 100usd I would be winning 10% reason enough for me to retire, but that's my way of thinking, each person uses their money as they want, but I think that above all one must imagine every scenario so that it doesn't happen. That is, from the beginning, a person who does that is already making a mistake, that is, he is already losing.

Actually, her idea is not bad if the goal is to avoid losing against the house. Gambler has a higher chance of securing profit when they manage to win on few rounds compared if you play it slow because casino always win in long game due to a lot of factors such as house edge, human error and the game mechanics itself that in favor to the casino.

Playing slow is good to enjoy gambling or if card counting is still working because you need to play longer before just to count cards and increase the EV in your favor if you knew the remaining cards on the deck.

Right now, it’s impossible to card count so playing slow will not give you an advantage but only a good way to manage your bankroll.

Whichever way we want the game will be whether we play it slow or not, we are still unsure how successful the next round will be.

I'm not sure if Dana is chasing loss because the guy can chase his loss in another way like arranging big fights in his fight nights. He is after all the CEO of the biggest MMA promotion.

Eternad

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Quote from: LUCKMCFLY on October 17, 2024, 08:35:14 AM

Quote from: rachael9385 on October 14, 2024, 03:23:08 PM

…

That's where the problem lies, from the start if you have 1000usd and you go with $100 at once that's equivalent to 10% at once, in that moment there's already an error, because starting with that percentage is a hard blow, I would start by managing at least 3% total to spend in a single game session and if I can't do anything about that 3%, then I don't insist, because losing 30usd in the whole game is never equal to $100, if you lose the 30usd you're left with 970usd where I know I'm not going to play anymore, so there are two options if I go from 30usd to 100usd I would be winning 10% reason enough for me to retire, but that's my way of thinking, each person uses their money as they want, but I think that above all one must imagine every scenario so that it doesn't happen. That is, from the beginning, a person who does that is already making a mistake, that is, he is already losing.

Actually, her idea is not bad if the goal is to avoid losing against the house. Gambler has a higher chance of securing profit when they manage to win on few rounds compared if you play it slow because casino always win in long game due to a lot of factors such as house edge, human error and the game mechanics itself that in favor to the casino.

Playing slow is good to enjoy gambling or if card counting is still working because you need to play longer before just to count cards and increase the EV in your favor if you knew the remaining cards on the deck.

Right now, it’s impossible to card count so playing slow will not give you an advantage but only a good way to manage your bankroll.

LUCKMCFLY

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Quote from: rachael9385 on October 14, 2024, 03:23:08 PM

One other weird part in gamble, is when you go to a casino house with the sum of $1000 and on your first bet you lost $100 from it, you won't feel bad until you lose close to $400 to $500. And you won't stop until you lose all the money or more than, this is also the reason why most of them chase their losses, and they will always lose because their mind is not settled. But some times, when you win you will not want to stop easily because you just started winning. Not knowing that the next round is not guaranteed. However, you might want to apply the same strategy you used on the next round but the simple question is, how sure are we that the next round will be successful?

That's where the problem lies, from the start if you have 1000usd and you go with $100 at once that's equivalent to 10% at once, in that moment there's already an error, because starting with that percentage is a hard blow, I would start by managing at least 3% total to spend in a single game session and if I can't do anything about that 3%, then I don't insist, because losing 30usd in the whole game is never equal to $100, if you lose the 30usd you're left with 970usd where I know I'm not going to play anymore, so there are two options if I go from 30usd to 100usd I would be winning 10% reason enough for me to retire, but that's my way of thinking, each person uses their money as they want, but I think that above all one must imagine every scenario so that it doesn't happen. That is, from the beginning, a person who does that is already making a mistake, that is, he is already losing.

alastantiger

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Quote from: rachael9385 on October 14, 2024, 03:23:08 PM

But some times, when you win you will not want to stop easily because you just started winning. Not knowing that the next round is not guaranteed. However, you might want to apply the same strategy you used on the next round but the simple question is, how sure are we that the next round will be successful?

The next round of every bet isn't certain in spite of what you feel, our brain can play games on us and it'll make us feel so confident without knowing that we're confidently choosing a wrong game and when we bet we lose everything. Every gambler needs to know their own limit and stick to it . Dana limits is so high and this could probably mean he has lots of money that he isn't scared about losing what he's staking for his bets. Every money that we wager is already a lost money before we can then win and recover our money and the waging amount back hence we shouldn't look at the potential win when gambling but the potential lost and this will help us to always use an amount that isn't too much.

Ojima-ojo

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Quote from: Jaycoinz on October 10, 2024, 11:07:32 AM

This is quite funny, losing 3 million dollars thinking it was 80k because he was intoxicated. Being under the influence of alcohol can mess up your state of mind and this might make you do some wreckless things. Don't take such things and gamble because you might not be in control of your actions. I read a story of a man that lost 50 thousand dollars playing a slot game because he was drunk, after losing so much he started kicking and punching the slot machine till he was eventually thrown out of the building by security guards. Always be conscious of your actions.

The gambler should have a Brain check because alcohol alone can not create such a mess of a condition where someone stake 3 million thinking it 80k because there is a big difference and the two doesn't come close at all for such to be considered a drunk man mistakes.

Although I can tell the trustfulness in this story but be rest assured that what results I to such is not alcohol alone, there can also be some underlying conditions that can not be verified at the moment.

wheelz1200

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Ha thanks for the share. Losing 3mil when you thought you lost 80k is gut wrenching. I mean at a certain point with so much money I guess it's not all that bad but still 3 milly to lose for anyone is eye opening. Drinking and gambling might be the worst combo of them all. Completely make eradic bets and cash decisions you normally wouldn't make. Almost impossible to win drunk consistently.

rachael9385

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Quote from: LUCKMCFLY on October 12, 2024, 10:18:00 AM

Quote from: Weawant on October 10, 2024, 06:55:36 PM

Before getting into gambling its best you have it at the back of your mind that there are times you will win and times you will loose so you are definitely going to loose and as well going to win, coming up with this mind set could be the best way and approach to gambling than just coming up with the mind that you are going to win the game just like that and not having to know that its a game of probability, people just follow other peoples testimonies and get deceived as against reality.

Exactly, that is the correct vision to avoid us having a bad time, when we see the games, when we play and win, we are the best, things flow very well and it is no secret that things will always be the best to generate money, but when you lose, that is where we see the person's capacity to face the hard moments, but in order not to abound so much in the matter of control and this that is Related to the game , it is simple, controlling money is Equivalent to controlling absolutely everything and that's it , that will avoid many unwanted consequences in the game.

One other weird part in gamble, is when you go to a casino house with the sum of $1000 and on your first bet you lost $100 from it, you won't feel bad until you lose close to $400 to $500. And you won't stop until you lose all the money or more than, this is also the reason why most of them chase their losses, and they will always lose because their mind is not settled. But some times, when you win you will not want to stop easily because you just started winning. Not knowing that the next round is not guaranteed. However, you might want to apply the same strategy you used on the next round but the simple question is, how sure are we that the next round will be successful?

Jody.Drummer

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Quote from: stomachgrowls on October 09, 2024, 08:10:13 AM

Depression comes into the time or moment that you have lost up too much money because of gambling neither on sports or in casino games, this is why it would really be that crucial or something important
that on the moment that you do play or engage with these stuffs then always make sure that you are really just that only make use of the amount on which you can afford to lose. Never make yourself
that becoming delusional about playing gambling because this is where people do usually mess up their lives because of the wrong decisions that they had made on.

As speaking with these known people or to those who are really that known figures then we can assume that they are rich people. The money that they had put out or bet on is something that they can afford.
They might be able to make out some bets just because they are drank or whatever condition it would be but this isnt really something that will really be our business but rather its theirs.
Its their money that been used so doesnt matter whether they do make out some bets or not.

I agree with what you said, we should be able to allocate money that we can afford to lose, in fact, the right thing is to allocate an amount of money that we can afford, not by forcing ourselves to continue putting money into gambling when we have lost, because if it is like this, it is likely that we will only find problems with the thought that instead of wanting to recover the loss, the reality is that it will only increase the loss. This certainly does not only apply to certain types of gambling, but in my opinion this applies to all types of gambling. Rich people who gamble tend to gamble with the main goal of seeking pleasure, not for profit, although there are indeed those who seek profit, but the positive value is that they can be calm even though they have lost, and in fact we should be able to accept the defeat that occurs. In addition, rich people have a lot of money so when they lose the amount they usually bet, it will not upset them, unless they lose a large amount. The key is in accepting defeat, because if we cannot accept defeat, then the possibility of irritation will occur and the severity of stress or depression.

Onyeeze

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Quote from: bittraffic on March 25, 2024, 11:49:12 AM

Just want to share.

https://youtu.be/k7aQEqDbuf8?t=4429
He was interviewed on Lex Fridman's channel just today. Funny how he thought it was just $80K but it's actually $3M. Rich men lose more when they get drunk playing blackjack.

He advises about winning and losing in gambling and if you get depressed because of it, gambling is not for you. He meant winning and losing are part of the game where great things and bad things happen.

That's why its advisable for people to seek opinion from other people to make sure know they exactly what they are doing, someone is not supposed to be depressed whenever the person loses in the gambling, because its obvious that gambling has to do with risk, so when you're gambling I think we need to understand the basic needs of what we doing before we gambles, and also know the risk measure That's in gambling before you can as well gamble because I know very well that gambling has effect or implications when you lose what you're not supposed to lose

LUCKMCFLY

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Quote from: Weawant on October 10, 2024, 06:55:36 PM

Before getting into gambling its best you have it at the back of your mind that there are times you will win and times you will loose so you are definitely going to loose and as well going to win, coming up with this mind set could be the best way and approach to gambling than just coming up with the mind that you are going to win the game just like that and not having to know that its a game of probability, people just follow other peoples testimonies and get deceived as against reality.

Exactly, that is the correct vision to avoid us having a bad time, when we see the games, when we play and win, we are the best, things flow very well and it is no secret that things will always be the best to generate money, but when you lose, that is where we see the person's capacity to face the hard moments, but in order not to abound so much in the matter of control and this that is Related to the game , it is simple, controlling money is Equivalent to controlling absolutely everything and that's it , that will avoid many unwanted consequences in the game.

Sandra_hakeem

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Goodnight, ohh Leo!!! 🦅

Quote from: ethereumhunter on October 11, 2024, 03:23:09 AM

That is why we don't have to get drunk when we want to playing gambling. That will gives us a bad situation where we can not control ourselves and knowing when we must quit gambling.

I'd say either ways,he may have been tipsy thus, knowing whatever happened the entire time and he outrightly made that decision (obviously not with clear skies).
You can only tell cheap lies to people that haven't experienced too much about the said scenario, but hear this; 85 outta hundred % of the times you get drunk (I mean really drunk), the next quick reflex would lead you to sleep wherever that was.

I know too well I'd have to make some speculations regardless blackjack being a casino game, why would I be so drunk in that case? I mean, he spent his money and paid up for his sh**.

Quote from: Oilacris on October 10, 2024, 04:43:04 PM

Trying to stop them?

The man took full responsibilities for his carelessness.

ethereumhunter

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Quote from: Coin_trader on October 10, 2024, 12:04:30 AM

Indubitably!

I’m a blackjack player myself for a long time. Even now I’m still committing some error due to my miscalculation and emotion on placing the right amount of bet. Most of the blackjack players use table matrix guide and combine it with basic card counting which is very to do if you can’t think clearly.

Dana has a good winning record on his Blackjack game when he is on his normal state. Clearly his sober state is the main culprit why he lose big time and people that is not good on blackjack will suffer terrible losses if they do the same like drinking while playing.

But if you want to just have fun then there’s nothing wrong as long you can limit your expenses while you’re drunk.

That is why we don't have to get drunk when we want to playing gambling. That will gives us a bad situation where we can not control ourselves and knowing when we must quit gambling. Our minds can not thinks clearly of what we have done because we only want to keep playing gambling and feels more excited.

We can not thinks clear when we are drunk while playing Blackjack or other gambling games because we need to focus with the bet and the money we have. Maybe we need other people that will be beside of us so they can warn ask and drag us to get out from casino so we don't spend too much money in gambling.

Weawant

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Quote from: bittraffic on March 25, 2024, 11:49:12 AM

Just want to share.

https://youtu.be/k7aQEqDbuf8?t=4429
He was interviewed on Lex Fridman's channel just today. Funny how he thought it was just $80K but it's actually $3M. Rich men lose more when they get drunk playing blackjack.

He advises about winning and losing in gambling and if you get depressed because of it, gambling is not for you. He meant winning and losing are part of the game where great things and bad things happen.

Before getting into gambling its best you have it at the back of your mind that there are times you will win and times you will loose so you are definitely going to loose and as well going to win, coming up with this mind set could be the best way and approach to gambling than just coming up with the mind that you are going to win the game just like that and not having to know that its a game of probability, people just follow other peoples testimonies and get deceived as against reality.

Sandra_hakeem

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Goodnight, ohh Leo!!! 🦅

Quote from: bittraffic on March 25, 2024, 11:49:12 AM

He was interviewed on Lex Fridman's channel just today. Funny how he thought it was just $80K but it's actually $3M. Rich men lose more when they get drunk playing blackjack.

You see, there's one thing that the rich has as an advantage over the poor - Hope and Assurance. They already figured out ways to make this money and that's one of the more reasons they'd be recklessly extravagant; imagine buying a pair of shoes/jewelry for the price of a car? They can always value it at the same( or a little drop) price. Again, that wasn't even the case - he lost $3million to blackjack on a single night?

Quote

He advises about winning and losing in gambling and if you get depressed because of it, gambling is not for you. He meant winning and losing are part of the game where great things and bad things happen.

Is somebody gonna tell me he's not regretting his actions to some extent? Well, that again would be another lie. He's fucked up already, but this has cost him almost 1/3 of his wealth in reality. This is a lesson to others out there - gambling understand the influence of any form of narcotics/ intoxicant is disastrous!!

Oilacris

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Quote from: Orpichukwu on October 10, 2024, 04:22:23 PM

Quote from: the rise on October 08, 2024, 04:51:55 PM

a very funny but very sad situation, just because he was drunk he lost a lot of money, and don't casinos have rules for their customers like maximum bets, how could the casino be willing to take so much money from someone who is drunk, clearly the player will not be aware of his bets

On a normal sense, anyone who is active and is watching the gambler play more that he or she usually uses to play should be aware that they are under the influence of alcohol that they have taken and should have stopped them from gambling any further unless they don't care if they pay less attention to it, or it could also be true that most casinos behave exactly as they are accused of behaving, I mean in the line of entertaining their customers with alcohol up to the extent that they will no longer have control over how much they spend.

Trying to stop them?

As fellow gambler or bystander, then you are really just simply finding up some trouble. Who the hell are you to stop them on gambling? These are the lines that you would really be able to get or be asked by someone who had been drunk and wanting to make out some bets. Its really that something unethical on stopping someone on making out some betting. Its understandable that we would really be that in concern since they are really that under the influence of alcohol and wont really be liking for them to losing up something big.

We should really be that wary that casinos do even offer drinks to those people who do play into their vicinity or to those VIP or high rollers to cloud up their sense specially the way of thinking
on which on the moment that they've been affected then it will really be resulting into those careless bets on which it is really that on casinos benefit or advantage.

Topic: Dana thought he lost $80k one night and his advice for gamblers (Read 1597 times)