Topic: Gambling mistake repeated by the gamblers - page 13. (Read 6240 times)

There's a tendency for folks to get caught up in the moment when they get a big chunk of cash and blow it all. You're talking about investments and growth beyond that. Anyone who's watched the economy fluctuate knows how important that thinking is.

Its more than smarts. You need discipline to keep making enormous money. Additionally, your discussion on continuous learning and planning is spot-on. Using prizes to establish a business goes beyond money. Taking charge and creating something you identify with. Many dont realize this. Quick cure is all they seek. Real financial mastery requires long-term thinking, uncertainty, and smart risks that could change your life.

Of course, overconfidence and greed are the main reasons why gamblers become destitute. It is good to have confidence but overconfidence never brings benefits. Of course, this is the nature of a gambler.

When a gambler wins on several boards in a row, then he thinks of himself, as the creator of his destiny. This overconfidence leads him to the brink of defeat.

Greedy people always get caught. Greed is the worst way. Win again and again when greed leaves a nest in a person. Then he loses his sense of good and bad. As a result, he loses everything and becomes destitute.

This is why if you’re into gambling, you should learn to balance it as well with making some investments. Once you make big winnings, proceed with planning on a potential investment that can be highly profitable and sustainable, that way even if you lose at times with gambling, at least you are also generating some decent profits from your investment. And with that, you can also make an assurance to yourself that your winnings will not be wasted, and won’t live again facing a lot of financial issues.

That's a normal if many gamblers wants to have the luck and wins the games because those who playing gambling will thinks like that and still hopes that they can wins someday. But not many of them can realizes that they will still difficult to wins, especially wins the jackpot because that will needs luck. Gamblers can't hopes the luck favours them when they playing gambling because luck will comes to the right person. What they can do is just keeps playing gambling moderately and wait their turns to becomes the winner.

Gambling mistakes will always repeat by gamblers who doesn't realizes that playing gambling is just for have fun. But a wise gambler will not do that and always protect themselves not to lose much money. They will lose some money that they can afford because they don't wants to lose much money and only playing gambling to fills their spare time. They will not always playing gambling in their spare time and only playing gambling occasionally to avoids the big lose.

That's true and it can happen to anyone who weren't able to manage their financials.
Just imagining how long before you can deplete all that money from a lottery win will make you think about either quitting your job and getting a business or just keeping it a low profile which rarely happens. Especially to those who experience it for the first time in their life. I bet they will even forget about the important things first and do a buying spree of all the things they wanted ever since they were a child.
IMO, it will be easy to say that we can control ourselves from spending it but once it's there we might just be the same as them. I do that all the time after winning in slots, I use the profits I made to take my kids out instead of saving it. Well, it's okay since I feel energized again after it, all my stress is gone and I feel refreshed.

Well, you are right, but then, people who fall under this category are mostly people who are possibly just hitting the big amount of money for the very first, or people that have been sworn for; that for the rest of their life, they will remain useless.

Some body like myself whom over the years have gained wealth of experiences, have risen and fallen atleast, two times, have learnt a great lesson on how to economically and effectively manage money, no matter how big the amount of the money is.
So, for me, assuming I was working in a company where the pay me even as high as $5k per month, if I win up to a hundred thousand dollars from gambling, I will surely quit my job, but not retire completely from working, but rather, I will quit my job to start my own business, that gives me more time to effectively do meaningful things with my life.

But all the same, it is mistakes that make peopl learn, it is best to learn from other people's mistake, but those who fail to learn from other peoples mistakes will be forced to learn from their own mistake, but the risk that comes with learning from our own mistake is that, sometimes and for some people, they don't get a second chance after messing up their first opportunity.
And this is one reason why we must always strive to gain knowledge, and use every winnings from gambling jeodiciously for the betterment of our life.

Different person will have different threshold, if you're get paid for $1K per month, but you win $100K from gambling, most people will resign because they think their jobs aren't worth it anymore. However, when someone don't have experience to manage big amount of money, they usually spend their money for unnecessary thing and believe it's a good investment.

That's why someone who won a lottery mostly back become poor because they can't manage their money.

You're right, usually no matter what advice we give them, they don't really listen because all they have in mind is their own. Been there done that, I just got tired of giving advice because everything I say that is for their good is just ignored so I just let it go, because they will learn better when they experience the things that we always say to them, then when it happens to them, they will only remember all the advice we gave them. That's why we help them so that they don't end up in such a situation, but it's their choice whether to listen or not, as long as we are kind to them.

I do not think they will listen because they do not need to be corrected what they need is to realize how wrong they are with the thought of gambling to earn as their primary source of income..
As long that kind of mindset is still imprinted to their minds they will never get to listen what everybody is trying to say, this is base on my own personal experience with dealing to a person which was my former co-worker in the same department who quit and resigned his job because he hit big in gambling and he tried to continue his living by doing more of the gambling work. We have not seen for a long time now but I heard he is now working again to a different company in which he again started at the bottom position.

Yes, it is true that in any case applying greed can never be right because in the end it will cause problems, especially when talking or involving greed in gambling which is a wrong action that should be avoided as much as possible, and one of the reasons it is forbidden to apply greed to gambling is because we never know about what will happen at the end of the session, gambling can never be predicted at any time because there is absolutely no certainty or anything that you can use as a benchmark to guarantee victory at the end of the session.

I think we already know clearly that there is a lot of evidence that has occurred where most gamblers who come to earn have experienced a downturn by losing significant amounts because they always apply greed when they manage to get a number of wins which in the end instead of getting a bigger amount of winnings but the opposite happens where they actually lose all the winnings they have managed to get before because luck has disappeared. On the other hand, I would say that gamblers who come with the intention of earning are those who engage in gambling without the right understanding of gambling which ultimately makes them act in the wrong way such as applying faith and hope in a place that has absolutely no guarantee and certainty whatsoever.

The gambling community mostly expects the luck in the game,it doesn’t mean the players get luck all the time in gambling site.If the luck favours the player,he should not fail to make the money from the gambling site.Because we don’t know when the luck again he will get in the gambling site.The skilled gamblers will not worry about the luck in the gambling site.Because he will make the regular money from the gambling site by his skills towards the game.So he doesn’t require to worry about the gambling luck to make the money from gambling sites.

The gambling site will have the algorithm to give money and to beat the gamblers strategy.If the gamblers strategy beat the gambling site algorithm then the gamblers will make money from it.If the gambling site beat the gamblers strategies the loss will be the outcome for the gamblers.

This is the main reason why people keep on gamble despite losing a lot of money in gambling. They have a hope that one day they will win a jackpot and it will not only recover all their losses but will make them millionaires. I am not sure how realistic is this approach and thinking. Do gamblers really become millionaires or do they just become bankrupt in waiting to become a millionaires???

The hard fact is that only a few people are lucky enough to win big in gambling while most of the people keep on losing more and never gain any significant amount from gambling.
Even people hear and read a lot of unsuccessful and addiction stories about gambling but they tend to ignore them and only the successful jackpot winning gambling experiences attract them.

Yea, I habemade such mistakes in the past when I was still an addict. I will never get satisfied with my bet whether, I am winning or losing. Instead, I always feel like the next game will give me that big win, which made me to continue playing till I will lose all my bankroll.

It is bad as a gambler, when gambling. Appreciate the little profit that you have made or the little loss that you have made, and quit the game at the right time, in order not to have more losses. Whoever gambles with little amount and come back the next day to gamble will not be affected with greed and emotions.

Generally, those who gamble, if they win money once they gamble, then people nest in their mind, they think maybe or if I bet double money, then I will make double amount of money. Then the gambler repeats the double bet to get his money back and loses money. Of course, gambling is very risky, but basically those who are addicted to gambling without considering the risk, they become addicted to gambling, they are constantly losing money through gambling, they are constantly wasting their money by gambling. So everyone should refrain from such gambling.

Being greedy is a very big problem to humanity because it will definitely make you to lose a lot. It’s not just a good idea to be greedy gamble with what you think you can afford even when you think the game is straight for you to win still stick on your plan I wouldn’t advise anyone to be overconfidence because you can lose, what you think you may not lose so don’t just put much on it know that gambling is a ricks risk , so just do the writing and don’t put your whole mind into it

Exactly, addicted thinks that as long as there's money in their wallet the chance of catching the jackpot still alive, they only realize that same mistake once they already empty handed, most of the time, the only counter that you can do is to quit before you run out of money or if by chance that luck permits you to win, better to stop and call for the day. It's good to have some decent winnings instead of trying to push for more and aim for more, those kind of thinking will only lead you losing your money.

Better to be in positive even if it's just a small amount of earnings, as the chance of losing always higher compared to your chance of winning, the fact that gambling always accompanied by risk and without good control of your emotions will continue to lead your way to lose all the money inside your wallet.

Yes, you've explained the situation very good. I wish more gamblers read your post, because this way of thinking, like "I just need to make 100 bets more max and I will hit it!", this is one of the biggest mistakes gamblers make. We have to admit that everyone, you and me too, think like this from time to time. I you are a gambler - it's inevitable. But what we lose is $30-$50 in the end. Yes, it is painful, but it is bearable. When people lose more than they can afford to lose because of that way of thinking, it's a tragedy and that's what makes them miserable.

The desire for things to go our way is within every single one of us, the difference is that while we understand very clearly that getting such a jackpot is almost impossible, and we do not expect to ever win it during our lifetimes, addicted gamblers think on the exact opposite way, and believe that it is just a matter of time until they win, which explains how they can use such massive amounts of money in an activity that should be just another hobby, but for them this is the method they will use to solve all their money problems forever.

That's how bet gambling can get for some folks I mean how stupid is it that someone would actually play gamble just to hope that he might get the jackpot, because their is no certainty to that happening and even if their is then it's about 1% chance of it happening so someone can stoup so low to actually making the bets just that particular reason well they once you are addicted it's hard fucking getting out of it.

Greediness Is one of the most important thing Gamblers should focus on, because in all the problem gamblers have, greediness is the reason behind most failure. Because opportunity comes countless times for them to to cash out or accept their wining and leave the casino, but they will insist on trying more luck from which the little generated income will be swindled by greed and later will put the blame on casino, saying that gambling comes with a driving force that makes people to over spend until they got broke. Not knowing that their mind has Been tied with  greed that made them loose often.