Focus on how much you may lose and not only the potential win. - page 15.

uneng

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Quote from: Lida93 on January 03, 2024, 09:19:12 AM

A situation where the stake for the bet he won was $1k, the next statement you hear is how wish I knew I would have staked with $5k. The question is, the $5k is it an amount of money that you can be comfortable losing or it's just out of greed that you are not contented with the win amount the $1k gave you.

I believe people should be more thankful for what they have achieved, instead of constantly grumbling that it could have been better if this or that... When gamblers act like you exemplified, it shows a discontent from their part, despite their winnings, what also indicates greed and evil eye over other gamblers' superior winnings, as they wish to be on someone else's shoes.

Quote from: Lida93 on January 03, 2024, 09:19:12 AM

The fact that you won using $1k today doesn't give assurance that if you had used higher amount or that your next bet that you probably increased the wager in order to win a bigger amount will play. As gamblers let not focus all attention on the amount that we may by chance of luck win but on what we are to lose should we fail to win the bet, in that way we won't spend on gambling above what we can afford to lose.
Stay in check!

Things happen as they have to happen in luck matters. Maybe if he had used 5000$ to bet, the outcome would have been different, because he wasn't intended to make more profit than he made on that respective moment. Luck is a mysterious factor and can't be manipulated in our favour. It just happens naturally and occasionaly. I believe gamblers should focus in having a good time betting, while forgeting about potential winnings and potential losses. If they have selected a limited budget to gamble, it shouldn't be a big issue if they lost the whole budget, since it was one of the possible expected scenarios since the beginning.

suzanne5223

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I agree with what you said about the topic because this will create the preparation feelings of whatever the game result will be for the gambler and this is the exact impression I always have which has helped me to control my gambling buzz so far.
Whenever I am lucky to have won above my initial deposit what I always do is withdraw so that I can easily gamble with no emotion and when the game is not in my favor I always switch to another which always be in my favor.
This is the strategy I used days ago on Bets and stake.

Quote from: Lida93 on January 03, 2024, 09:19:12 AM

which is the thought of "had I knew this game was going to win I would have used bigger amount of money to wager".

This is the thought of greedy gamblers because what every game presents is a chance and winning is not guaranteed. It's better to always go to bet with the amount that won't cause emotional gambling.

Franctoshi

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Op this is true talk, and it always like that when we win a bet, Some of us don't really understand it when they say gamble with the amount of money you can afford to lose, they only focus on the winning side and forget that it's a 50/50 thing, the same way you won would also be the same way you would have lost should the bet not go your way, when it comes to risk management trading taught me how to manage risk in whatever thing I do that involves money after that I lost heavily in trading because of greed. So I usually apply risk when gambling too.

Yatsan

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It will always be better to anticipate the worse outcome in order to safeguard oneself from regret and frustrations which could yield to a bigger problem it won't be managed. Well, it is normal to expect for profit but at least be realistic in order to not lose that much as well. Losing $100 to a single bet is worse than 10 different bets for that hundred 'coz at least there would be a bigger chance to not be coming home with nothing. In such way, efficiency with your bets is also concerned all will also be considered, making your gambling journey better in the long run.

Quote from: SmartGold01 on January 03, 2024, 01:20:10 PM

Quote from: Lida93 on January 03, 2024, 09:19:12 AM

which is the thought of "had I knew this game was going to win I would have used bigger amount of money to wager".

I have never found myself in such condition or situation because any one who gamble often and keep saying that you should know that such person is being driven by greed at least he should take whatever they have won than regret for not doubling their wager.
Have they also thought about the lost maybe if they knew about the winning and go double their wager and later realised that they entirely lost all their money would they have to blame themselves or whom are they going to pour the blame on?

No one to blame other than gambler herself. Being greedy won't put you to a better place i most instances especially with gambling wherein it depends on your luck either you lose or win. Let's say you doubled your wager 'coz of clear odds but the underdog managed to comeback and then no ball is being missed(perhaps with nba gambling). Blaming other people won't make things better but will just push a gambler to be nothing.

SmartGold01

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Quote from: Lida93 on January 03, 2024, 09:19:12 AM

which is the thought of "had I knew this game was going to win I would have used bigger amount of money to wager".

I have never found myself in such condition or situation because any one who gamble often and keep saying that you should know that such person is being driven by greed at least he should take whatever they have won than regret for not doubling their wager.
Have they also thought about the lost maybe if they knew about the winning and go double their wager and later realised that they entirely lost all their money would they have to blame themselves or whom are they going to pour the blame on?

mindrust

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You know what they say:

“If you don’t buy a ticket, you’ll never win the lottery.”

The same goes for any kind of gambling. If you don’t want to lose or win money then don’t play. If you want to win all the time just get a easy job with good pay or better yet be a merchant and sell stuff.

You know what merchants do. They buy cheap from their suppliers and sell high to their customers. It is like trading, no, it is trading but they are always on the winning side (unless the customers lose their interest on the merc’s items)

When you gamble or trade alts you may end up on the losing side but the mercs are usually not. If you want to make the winning bets all the time, start a business and sell stuff.

348Judah

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Quote from: Lida93 on January 03, 2024, 09:19:12 AM

A situation where the stake for the bet he won was $1k, the next statement you hear is how wish I knew I would have staked with $5k. The question is, the $5k is it an amount of money that you can be comfortable losing or it's just out of greed that you are not contented with the win amount the $1k gave you.

I've also been privileged to see many gamblers as well have this same kind of expression towards the end of what they have already achieved, if they won the bet, they will make such statement that had I known, but what if they never had the opportunity of winning at all, can they afford to risk loosing that same amount they would have love to bet with if it came as win, to me I see it as more of being greed than having passion for taking risk in it highest order, don't use the amount you can't afford to loose for gambling.

topbitcoin

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Earning money is very difficult, but someone can easily throw it away into gambling. They think that by gambling they can multiply their income, but in reality, gambling will only make you poorer. And even if you get a big win, the winnings will go back into gambling. Because you think that you are capable and skilled enough to achieve a win, so you behave carelessly by continuing to double the amount of your bet, which in the end, the winnings you get are not put to good use and the money you have is used up for gambling. So what's left? What remains is only regret because you behaved carelessly when gambling.

Without good financial management and self-control, the gambling you do will only end in loss and deep regret. So immediately improve yourself, control your gambling activities and finances well. So even if you don't get a profit from the gambling you do, at least you get pleasure from the activity.

Antotena

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Quote from: _act_ on January 03, 2024, 10:12:03 AM

If you focus on how much you will lose, that means you will focus on how to manage your money that you are using to gamble, having gambling budget and not using more than what you can afford to lose. So this makes me not to completely agrees with you. It is good to focus on how you can lose for you not to fall victim of gambling loss.

When you focus on how much you are going to lose in gambling, it means you are doing nothing but management of your deposit and when you manage your deposit, you are indirectly trying to maximize profits; how about that? As a gambler, you should never sleep on your deposit and always check well before you make that move, you should have limit to amount you want to bet and maximum accumulated bets or multiplier you want to use. Just because Mr T win with 200 oods or multiplier doesn't mean you should do the same, you will lose if you copy another person.

In as much as it's good to focus on the loss, you are already making sure of good profits, with this strategy you are indirectly gambling responsibly and it will help you reduce your loses and even plan ahead of what game is good for you because if you play one and it didn't work, you wouldn't try it next time or when you try a method and it didn't work, you will avoid such mistake next time.

Coin_trader

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Quote from: Lida93 on January 03, 2024, 09:19:12 AM

A situation where the stake for the bet he won was $1k, the next statement you hear is how wish I knew I would have staked with $5k. The question is, the $5k is it an amount of money that you can be comfortable losing or it's just out of greed that you are not contented with the win amount the $1k gave you.

This is debatable discussion. Let’s lower down a bit the value of bet to make it realistic for everyone here, let’s say the winning bet is 10$ while he was hoping to place bet 50$. The correct answer will highly depend on the amount of bankroll which gambler have that time.

I will definitely think the same if I have enough bankroll to cover while I was hesitant on the amount of bet that I will place before that match start then later on win. On your example, It’s ok to think about what if bets amount if he has the capability to place that amount base on his bankroll because will think about supposed high bets if they don’t have bankroll to do that.

This is how regular think. You’re correct that gambler should set a maximum amount that they can lose in gambling but not to the point that they gave prioritize on it instead of the profit target.

Findingnemo

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Quote from: Lida93 on January 03, 2024, 09:19:12 AM

A situation where the stake for the bet he won was $1k, the next statement you hear is how wish I knew I would have staked with $5k. The question is, the $5k is it an amount of money that you can be comfortable losing or it's just out of greed that you are not contented with the win amount the $1k gave you.

It is basic human nature, they expect a result and when it happens they get credit for it happening even if they have no play in it and they won't be thinking of otherwise at the particular moment. But the next moment if they go for a big amount then they are supposed to be then that is the problem which they shouldn't do at all.

bitbollo

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Quote from: Lida93 on January 03, 2024, 09:19:12 AM

There are gamblers that have a bad plan or no plan at all about their life, they gamble with whatever amount they have rather than what they can afford to lose that won't be a worry to them if lost. There's this thought that am sure almost every gambler that have won a bet before must have had. which is the thought of "had I knew this game was going to win I would have used bigger amount of money to wager".

A situation where the stake for the bet he won was $1k, the next statement you hear is how wish I knew I would have staked with $5k. The question is, the $5k is it an amount of money that you can be comfortable losing or it's just out of greed that you are not contented with the win amount the $1k gave you.

The fact that you won using $1k today doesn't give assurance that if you had used higher amount or that your next bet that you probably increased the wager in order to win a bigger amount will play. As gamblers let not focus all attention on the amount that we may by chance of luck win but on what we are to lose should we fail to win the bet, in that way we won't spend on gambling above what we can afford to lose.
Stay in check!

these are a whole series of calculations that any player must keep in mind to avoid finding themselves with budget problems. you must have such numbers, if you have a family or you're living by your own work...

Unfortunately, those who gamble compulsively are unable to limit themselves and this easily leads to the accumulation of serious financial losses...and in a "recurrent" way people try to overcome these financial problems by playing even more and exposing more to economic problems...

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Quote from: Lida93 on January 03, 2024, 09:19:12 AM

There are gamblers that have a bad plan or no plan at all about their life, they gamble with whatever amount they have rather than what they can afford to lose that won't be a worry to them if lost. There's this thought that am sure almost every gambler that have won a bet before must have had. which is the thought of "had I knew this game was going to win I would have used bigger amount of money to wager".

A situation where the stake for the bet he won was $1k, the next statement you hear is how wish I knew I would have staked with $5k. The question is, the $5k is it an amount of money that you can be comfortable losing or it's just out of greed that you are not contented with the win amount the $1k gave you.

The fact that you won using $1k today doesn't give assurance that if you had used higher amount or that your next bet that you probably increased the wager in order to win a bigger amount will play. As gamblers let not focus all attention on the amount that we may by chance of luck win but on what we are to lose should we fail to win the bet, in that way we won't spend on gambling above what we can afford to lose.
Stay in check!

Lately I am focusing on this but in theory I think everyone knows this,I think everyone sets a predefined bankroll to gamble despite that most of the times we don't stay true to that promise and that is what keeps us going,the potential to win,it is exactly this thing that keeps us coming back and breaking our promises to have a defined bankroll to use.I never think if I had more money I would do better in a game as I truly think that every spin is independent of each other and I am talking about slot machines here because this type of game is what has the highest level of addiction and not for nothing is the best money maker to the casino.If we stay true to our promise to not overdo our set budget,we can be safe yet the potential to win keeps us coming back.

Rruchi man

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Quote from: Lida93 on January 03, 2024, 09:19:12 AM

~

focusing on how much you will lose while gambling instead of concentrating on having fun will only reduced the fun that you intend to have while gambling. Any money allocated to gambling should be an amount that you already in your heart have deemed okay to loose in the quest for your fun and entertainment.

If you are still reluctant to loose an amount of money you gamble with, then maybe you should not be gambling with that money in the first place.

Marvelman

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I understand the thrill of a good gamble, but it's wise to set a budget and stick to it. The what ifs can tempt us to risk more than we ought. Though a big win excites our greed, losing it all sobers us up real quick and

it's best to play for fun, not funds. Quit while you're ahead walk away when youre behind. Win or lose, be content and count both as entertainment. Then you needn't chase what's gone or fear what's to come.

Moderation brings lasting enjoyment to games of chance. With reasonable bets, we weather unlucky rolls in stride, neither destitute nor desperate. And any surprising gains become blessing not burden.

So I aim to wager lightly, no matter how alluring the odds. The anxiety of an empty wallet outweighs any jackpot. And a full one lets me laugh with Lady Luck, win or lose.

RapTarX

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Quote from: panjul07 on January 03, 2024, 10:08:17 AM

I have different point of view tbh, I will not focus on how much I may lose as well as the potential win but I'll focus more on how to manage my money.

Exactly, I share the same point of view. I have my gambling amount budget fixed for every month. I wouldn't have a problem even if I lost them all because the sum is in my budget already. Usually, I spend less amount than my budget LOL. I don't consider myself a gambler either; it's fun to play, and place bets.

Quote from: Juse14 on January 03, 2024, 11:30:52 AM

in fact the more ambitious you are to win, the more difficult it will be for you to get that win.

If someone is running after chasing the wins, I guess they are likely to lose their bankroll so fast.

Juse14

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If I had to count it, maybe I don't know how many times I lost and if I did a calculation, it would only show that this gambling activity is the most financially detrimental activity. And when we know this reality, there are at least two possibilities for what will happen next. The first thing is that you decide to leave the activity and give up sincerely the money you have spent on gambling. Meanwhile, in the second possibility, you play even crazier, with full ambition to win and make this gambling activity a profitable activity. And full of hope, that when he wins later, then all the forms of defeat that he has experienced will be replaced immediately. it's just empty talk, in fact the more ambitious you are to win, the more difficult it will be for you to get that win. Ultimately, gambling remains a detrimental activity.

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I can’t say I’ve ever heard someone say to focus on losing before but it isn’t the worst advice when it comes to gambling. This sort of goes along with the saying that you should never bet more than you can afford to lose. Sometimes things happen against the odds and if you go all in on a sure thing, you’d better make sure it’s worth it.

cafter

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Yes the person needs to deposit amount which he can afford to lose or thinking that this is already lost money.
it is true that this thinking of winning big and betting more cause people to lose and sometimes lose everything they have.
here a conditions: if he played with 5k then his mind would not work like worked with 1k because of risk and probably the bet will be losing bet in the end.
so size of bet affect our mind to take wrong bets most of the times it happens with me all the times.

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Quote from: Lida93 on January 03, 2024, 09:19:12 AM

There are gamblers that have a bad plan or no plan at all about their life, they gamble with whatever amount they have rather than what they can afford to lose that won't be a worry to them if lost. There's this thought that am sure almost every gambler that have won a bet before must have had. which is the thought of "had I knew this game was going to win I would have used bigger amount of money to wager".

Yeah, usually any time I win a bet, I do have those kinds of thoughts running through my head. There will come some inner voice saying, "Oh, if you had known, you would have staked a huge amount for that game.". Any time I play Crash, the moment I stake a little amount of money, the bird will keep running for up to 300x, but if I decide to take a risk and increase my stake, it will not even get to 50x before it crashes. It's something that happens more frequently to me.

Despite all those thoughts of not staking with a huge amount ringing in my head, I don't have the self-control of staking with a very huge amount that will make me regret my decision if, in the future, the game gets burned. Gambling is a game of fun, gains, and losses, and if a gambler is not ready to lose, then they must not gamble. If a gambler is not also financially sound enough to stake a huge amount, it's better to stake with the little they have, and if they are able to win, let them be content with what they have won.

Personally, I can't deny the fact that I still have these kinds of thoughts, but I don't allow them to influence my decision on the amount I wish to stake.

Topic: Focus on how much you may lose and not only the potential win. - page 15. (Read 2107 times)