Dana thought he lost $80k one night and his advice for gamblers - page 8.

Wapfika

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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.

Dana White is a god of Blackjack because he used to be frequently winning and get restricted to play on some casino just because he keeps winning. I’m surprised that he made a mistake like this such as drinking alcohol during gambling while he a discipline gambler. This only proves that no one can be successful on gambling in the presence of an alcohol or simply clouded mind even a guy like Dana that is so good on this game.

What’s interesting on his interview is he is not that much affected and he is showing a sign that he will keep coming back to recover his loses but this time he already leaned his lesson for not drinking.

I’m curious on the next chapter of his gambling career because people that already experienced bad defeat after a good gambling career usually end up chasing loss badly.

piebeyb

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Take a lesson from here that you have to gamble in a conscious state, even when you are conscious, people sometimes forget what they are like when they are not conscious because of the influence of alcohol. This should not be combined, even though gambling is just for fun, don't use alcohol to have fun either. gambling, it will definitely end badly because I once saw my friend lose a lot of money after being unconsciously under the influence of alcohol he gambled like crazy, after he realized he had spent all his savings, he only regretted it.

For me, rich people might still be able to find that much money, but for poor people, losing a lot of money in their savings because of gambling, it definitely takes time to collect it again and even getting it again will be difficult. I'm not too interested in gambling while drinking alcohol, although sometimes I still Drinking alcohol doesn't mean you have to gamble under the influence of alcohol, it will never be good, there have been many cases like this that I have seen, so I have learned a lot about controlling myself when gambling, make sure you are sober.

moneystery

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even when sober, a person needs to be careful when gambling, because he could gamble more than he can afford, especially when he is drunk, this should not be done because drunk people cannot think and tend to just play for their own pleasure. when someone is drunk, they will think that what they are doing is just having fun and they will not think that it could be a disaster for them.

and because of the dangers of gambling while intoxicated, one needs to limit themselves and not consume alcohol or anything that could impair their sobriety. because casinos will never forbid someone who is drunk from gambling, instead they support that person, because they think that it can give them money.

Gozie51

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

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.

He is correct actually and that is the psychology that gambling requires but you can't have such mentality if you are not gambling as you can bear and if you are not doing that, it will never look like fun for you. Take for instance in his own case, losing $3m but thinking it was mere $80,000 which means he has more bankroll and also means for source of income even though under the influence of alcohol.

Those that will be depressed when they lose are either gambling more than they can bear and have borrowed money hence are confused about how to repay. Those who don't have means of source of income also can be depressed when they lose.

sokani

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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.

I like the fact that he admitted he learnt a valuable lesson not to drink when gambling, according to him "alcohol is free but you don't have to take a f*cking glass."

I don't know if refreshments are part of the VIP treatments given to high profile gamblers at physical casinos, but alcohols shouldn't be included because some gamblers could be taken advantage of. Imagine blowing off $3M and thinking it was just $80k because of alcohol, that's really sad.

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Quote from: Oshosondy on March 25, 2024, 11:59:17 AM

Losing $3 million and thinking he lost $80000. Alcohol is not good for those that drink too much of it. I think he gambled on a land base casino where you can have fun and be given alcohol. I do not like that kind of mistake, people needs to be careful of alcohol in anything they are doing. It is even not only while gambling but in everything we are doing because during alcohol intoxication, bad things can happen and the person may later blame himself when he feels no more intoxication. Mild to moderator drinking while gambler is better than excessive drinking. Also we should know our limit.

It's incredible, yeah.
Alcohol in the casino is the best way to make a player forget about self-control. When you drink, all the problems don't seem so terrible, and you start betting without thinking about the consequences. But this is a false confidence, because alcohol muddies the mind and makes you act on instinct. As a result, the player can lose all the money without controlling his actions. Therefore, it is important to remember that moderate alcohol consumption during gambling can lead to negative consequences and loss of self-control.

348Judah

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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.

It is as easier as this, if we maintain a personal moral ethics with how we gamble, we are likely not to experience such amazing surprises on lost, from our casino wallet, we should make deposit of the amount of money we know that we can afford to lose, even if dunked, we cannot bet beyond the limit on the casino wallet, we also cannot compare ourselves with other people in which they can afford to lose any amount of money because they know what comes in for them on a daily basis, the rich win and loses, but we shouldn't overdo beyond the risk we can take with gambling.

ethereumhunter

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Playing gambling when someone drunk is not recommended because he can lose his minds and can't thinks clear about what he will do. He will not thinks about limiting his gambling activity, no matter if he rich or poor guy. His emotions will increase when he lose some money and will continue playing gambling without thinks that is the sign to take a break or stops playing gambling. That will be worsen when he drunk, he will not thinks to stops playing gambling because he find that playing gambling is a fun and he will not wants to stops gambling.

When you lose some money, you needs to stops playing gambling and not thinks to recover your lose. You needs to check your money and if it's almost runs out, it's better to stops playing gambling rather than lose all of your money.

gunhell16

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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.

As for the difference between 80 000 and 3 million, this is just proof that drinking alcohol while gambling is not really good because it causes a wrong view of the amount we bet in a casino game where we are playing.

He realized that it was 3M that he had lost when he was already consumed by himself. My goodness, 3 million was a very large amount of money. That's not just a small amount of money.

Hirose UK

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Quote from: danherbias07 on March 26, 2024, 05:50:42 AM

He said "Alcohol is free." so I think that's where he made a mistake.

$3 million. Damn. It's an amount that I may not be able to have so I don't think I will end up the same. But there's a good lesson here and the other members here are right to not gamble while you drink especially if it is a place that is giving it for free like what happened to Dana.
It's pretty obvious that they serve it free because they know it could boost the courage and ego of the gamblers which means they will spend more and might even go as far as taking a loan to someone else just to continue gambling.
Gambling and alcohol do not match. While we gamble we need to think and alcohol is destroying that ability.

Hahaha, alcohol will destroy you, this is thought for gamblers who don't like consuming alcohol and different thoughts will occur for gamblers who like alcohol because they will think that alcohol can make them play more bravely and give them sense of confidence.
It just that on the other hand it will affect consciousness until in the end he unknowingly experiences too many losses and spends much more money, he becomes out of control due to the influence of consuming alcohol when gambling.
If in an offline or physical casino then it is service for those VIP guests who are rich people, there will be free alcohol provided even though we think this is something that is deliberately provided so that gamblers lose consciousness.
If the gambler doesn't drink too much and can control it then he is unlikely to make mistakes and gamble within his means and it is impossible to cross the limit.

This is form of big loss for rich people and we can draw the conclusion and lesson that gambling with sane brain is the main priority.
Everyone must absolutely avoid consuming alcohol when gambling if they want to remain in control.

knowngunman

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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.

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.

Both the interviewer and the interviewee are very funny because I don't understand why he asks whether he loves losing gambling. One thing I learned from that video is the danger of gambling while you are drunk. Not only gambling but in anything serious you want to achieve, you have to stay away from too much drinking until you get the desire result. No class of people is free from the effect of alcohol, it is doesn't matter whether you are rich or poor, if you take too much of it during decision making processing such as gambling, you'll end up intoxicated and make wrong decisions.

Of course, losing and winning is part of the game and that's why it's called gambling. If it just losing, no one will even attempt it because at the end of the day, there's no anticipation and likewise, if it is just winning, developers will get nothing in return so there's no point of introducing it. The buttom line is gamble responsibly and be free from unnecessary depression.

Lida93

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

Rich men lose more when they get drunk playing

Rich or poor is not an exemption from losing money when playing under the influence of alcohol or any hard drugs. Your status doesn't count, what we shouldn't do as gamblers is gambling while drunk it's a bad habit we all must avoid.

Quote

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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 the spirit of the game, just like a coin of two varied faces you either win or lose and which ever comes our way we gat to deal with it like matured men. And the simple way to always deal with a loss ahead of it before it happens is by gambling with an amount of money we care less of losing. For the person in question in this op what he lost was an amount he care less to lose considering his networth.

Spaceman1000$

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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.

Losing $3m and he thought it was $80k, that's a huge amount of money lost in a single night. You don't gambling while your drunk, alcohol intoxication has a way of exciting an individual and keeping you hyper active to a point you wouldn't mind selling your personal belongings to continue a game, because at that stage you're not with your right state of mind, which ordinarily you would had the natural instincts that will tell you to stop playing. Dana is a rich dude who can bounce back, but I believe he has learnt the bitter lessons of not mixing alcohol and gambling.

danherbias07

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He said "Alcohol is free." so I think that's where he made a mistake.

$3 million. Damn. It's an amount that I may not be able to have so I don't think I will end up the same. But there's a good lesson here and the other members here are right to not gamble while you drink especially if it is a place that is giving it for free like what happened to Dana.
It's pretty obvious that they serve it free because they know it could boost the courage and ego of the gamblers which means they will spend more and might even go as far as taking a loan to someone else just to continue gambling.
Gambling and alcohol do not match. While we gamble we need to think and alcohol is destroying that ability.

angrybirdy

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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.

it's just like don't gamble when you're under the influence of drugs, why? because you don't know what's really happening around you anymore, imagine? You lost 3M but you thought it was only $80k, what a big difference right? Gambling is not really for you if you are careless and lack self-awareness while playing because if it continues, you might end up losing more than you expected.

OceanBit

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Always not gamble when you are drunk, tired, and not mentally or emotionally stable. Gambling in this kind of state will not only make you not make right decisions but also has risks of losing large sums of money. Although from dana's advice about the risks and being prepared for both wins and losses is important, still, it's much more important to have a healthy mindset and know when to walk away if it starts affecting your mental health.

acroman08

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

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.

he is absolutely correct, if losing in gambling makes you depressed then gambling is probably not for you, gambling is a extremely risky activity and most of the time you lose more than you win, so if you can't handle losing it would be best for you to look for another hobby or activity to do.

Also, a bit off topic, isn't Dana White the guy who got kicked of a casino for winning too much on blackjack, from what I remember he was up million dollars when got kicked out.

Pierre 2

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I don't think Millionaires are good with advising people but anyways there are couple of right things in this topic. Drunk gambling is definitely no go. When people are too drunk, their decision making goes very bad. Another important point here is to not lose your control with money, even if you are millionaire. You should always set your goals and limits.

EluguHcman

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Lets just say anyone can loose as much if gaming while drunk because you would be out of control about yourself. You would definitely play til you are called to order that your balance is insufficient to proceed with further stakes.

The much and more looses in gambling is not literally the totality of the money lost but what your income is.
I can be unaffordable to lost $200 on a straight game and then I would feel like I have lost everything that I have laboured for in life with the emotional breakdowns of unfit to put myself up in order again while there are gamblers who could lost over $10K on a straight and never feel they lost some funds.
So basically it is not just the riches that lost more but also the average gamblers.

Gambling has its pron and cons which every bettors should be aware of so we could always give counts of our lost and profits out of it in a bearable healthy and financial conditions.

Adbitco

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Every gambler should be able to have these characteristics in them that gambling is not a bed of roses where they expect to be winning at all time and again should avoid being drunk before they go into gambling site or casino houses. Most times people lost money unconditionally and uncontrollably because they don't know they are under influence of alcohol, and they can lose huge amount of money while gambling just as he did think that he is losing $80k without knowing is already running lost in millions of dollars.

This is a clear indication of being drunk and doesn't know what he is doing, as a gambler we should be able to know when to enter to play gamble and as a gambler you must avoid some certain things such as being over excited before going to play Gamble, and also avoid being too sad while going to gamble. Always remain on your normal state of mind before jumping into any site to gamble otherwise you could lose concentration along the line while gambling.

Topic: Dana thought he lost $80k one night and his advice for gamblers - page 8. (Read 1597 times)