Topic: Gambling mistake repeated by the gamblers - page 27. (Read 4170 times)

This is where self-control plays a big part in our gambling activities. Although being greedy is a common human emotion, it can be difficult to control, especially when we are presented with an opportunity to win big. In such situations, we tend to ignore our better judgment, assuming that we will continue to win big. This leads to an endless cycle of seeking bigger and bigger wins, without realizing the consequences.

Situations will always be different and not necessary for mistakes to be generic, gamblers lost sometimes because it's normal thing to lost in gambling. You need to be confidence in any form to be able to gamble, you need all the confidence you need to be able to gamble else you would try it once and run away the second day. What makes you stay focus on gambling is that same confidence you think it's the problem. If you don't have that over confidence, when you lost a game it's that over confidence that makes you try again because you are confidence that one day, you will win and recover back your your losses which of course is a normal thing in gambling.

As for the greed, I don't think been self-indulgent is a really big problem in gambling because of the chances that we do have, it reduces the risk of been greedy on gambling. For instance, let's say you have been gambling and then you have not won, just lost and loses but you are confidence and then won a multiple bets that help you recover all your losses and more profit, you can't be that naive and foolish and used everything to stake, impossible unless you are filty rich and know no value of money.

Exactly, having a healthy approach to gambling is something that most people always recommend, in any case and one of them in terms of putting a budget that is not too large, or means as you say by putting 5% of the total income from a weekly or monthly salary, However, financial management is one of the most important if you are involved in gambling because it is a risk-taking game while on the other hand to win you need luck which is basically unknown when it comes, so this is the reason why getting a win is much more difficult than losing and because of this we are more advised to put only a small amount so that if we lose we don't lose too much.

If you are involved in gambling or if you are one of the more active gamblers then obviously it is more advisable for you or anyone to try to be a responsible gambler by being able to accept whatever the outcome is at the end of the session and by betting small amounts then obviously I think you can be a responsible gambler, And also don't put any hopes on winning because the final result can never be known, putting hope and applying greed when the situation wins it will only make you regret it when in the end all previous wins are lost again just because you apply greed, however the results in gambling are always unpredictable and the point is you have to know when it's time to row and when to stop pulling over.

For most of our lives, greed is good.  It will help a person gather what he needs to survive. The kid not sharing his toy with the new kids in a playroom means it is good according to Pedias since it shows the kid care for his toy and means he wanna show he owns the toy.

There must be instances that greed makes things better except in gambling I suppose since the more you crave to win the more you lose in the end.  Learning to control, however, is the challenging part.

Greed is the main problem of gamblers and it even makes a gambler become a gambling addict. there will be no satisfaction even if they get a big win, because they are greedy and continue to feel lacking. Big wins will turn into big losses and make him stressed. that's what happens to gambling addicts who are too greedy. I try to keep greed away or control this attitude so that it doesn't bother me in any way, so that everything goes well.

Overconfidence: what I feel in gambling is indeed experienced especially with sports betting that we know when someone likes this sport then they will have confidence in their bets.
When I'm on a winning streak then the confidence increases but there's always the unlucky one where the bet is lost we mispredicted the match.

I've been where I've won 4 x consecutive multi bets but the 5th one was a loss plus the bet amount has been increased, I know it's greedy but with confidence we can do it and forget all about losing.

Greed in gambling is natural, sometimes we also often feel where we want to continue playing especially with today's winnings which are quite good, gamblers will definitely continue to play because of their confidence, but they will lose all their money if their confidence crosses the line.

Over confidence definitely is one big intriguing factor that most gamblers not just the new gamblers alone, in general exhibits that often becomes very much disastrous.
These gamblers after a successful win, will entirely forget the risks composed of the act of gambling and determing to stake all their wins into one single bet to maximize their profit, most times their hopes get shattered leaving them with nothing to hold on.

We need more and more money and when we see that money making is easy in gambling and at the time when we are winning, we tend to become more greedy. Instead of booking profits, we wait and keep playing thinking that we will never lose. This mostly happens to me, and i do not know the reason for this. Even before the game, i made myself mind ready that i would take profits as they came and do not become greedy but when i started to win, i could not keep my emotions in control and kept playing and eventually losing.

After a long time, I was able to understand this myth and forced my not to play more as soon as i get a good win. Later this becomes a habit and as we mature in gambling, the good practices are eventually adopted by us (provided we are willing to adopt them).

The cyclical nature of gambler mistakes, despite readily available information, presents a fascinating and concerning phenomenon. While the reasons are multifaceted, understanding these recurring errors is crucial for promoting responsible gambling practices.

One key factor is the inherent appeal of gambling as a potential shortcut to wealth. This seductive fantasy, fueled by media portrayals and occasional wins, blindsides individuals to the inherent risks and statistical improbability of sustained success. This "get rich quick" mentality fosters greed, leading to chasing losses and escalating bets in a desperate attempt to recoup initial gains.

Psychological factors also play a significant role. Overconfidence, fueled by recent wins or a distorted perception of skill, can lead to reckless decision-making. Conversely, loss aversion, the tendency to feel losses more intensely than gains, can trigger a desperate attempt to "win back" what was lost, further exacerbating the situation. Additionally, confirmation bias leads individuals to selectively focus on positive experiences, ignoring the vast majority of losses, perpetuating the illusion of control.

To avoid greed, I always set a daily goal for both loss and gain. This helps to avoid major disasters and allows me to have fun, earn my money and, when necessary, get out without much harm. I believe it is a great way to deal with these problems.

Every gambler in general, before they play, must be equipped with their own knowledge and they already know the risks. Yes, sometimes every gambler who experiences defeat, they haven't found luck in that round, and they will continue again because they are curious, who knows, in the next round they will get luck and this curiosity will make the gamblers repeat themselves. And likewise, if they have had a winning streak and they will definitely play again to get even bigger profits, this is the nature of a gambler.

I can relate, it's very hard to control your feeling when things are working like you wanted, this is happening to Bitcoin and alt investors too, once a new ATH is happening they aren't going to start taking profit, they believe that the surge is just getting started. I remember in 2020 retailers start running back into the market after Bitcoin reached 17k.

I sometimes avoid gambling for my own sake, whenever I am earning less amount of money I don't want to think about gambling at such period of time, it's too risky, as I could end up trusting my gut that I can make some money in gambling which could end up a mess.

When you are broke, don't think about gambling, when you have some spare amount of money is the best time to gamble, if things are going side ways in your job or business stay away from gambling, thinking about gambling in such hard time can prompt you into taking risks you are not ready for.

It is in human nature to begin to feel full of themselves when they were able to predict games correctly for some time, overconfidence begins to step into their life to believe that they have reached the pinnacle of gambling accuracy.

That most common error made by gamblers who are overconfident in themselves is this one. They are overconfident in the sports they are betting on all the time. If you tell them the sports they are betting on will not win, they will not accept it and will be upset with you for casting a shadow over their hopes.

These two criteria are commonly found within gamblers, if you go to a physical gambling centre you see gamblers portraying these acts. Overconfidence is a problem in gambling, when the gambler have a winning streak and starts to think they are too good or have some special skill in gambling. This will lead to taking bigger risk, placing bigger bets and not properly accessing the odds. Greed in gambling stems from the desire to win more and thinking that bigger opportunity is always available after they win forgetting gambling is a game of luck.

These two factor sometimes can be favourable, because as gambler the desire to win more is part of the game but it's necessary to find a balance when you are winning and when you are losing to know when to pullout because gambling is game of luck and when you have your bets favourable to be overconfidence and greedy.

Over confidence is a big issue in gambling, because it dazzle your senses and turn you into a fool. I've already faced it sometimes in gambling, thinking I was invencible, so I could overcome the house the more I played. By being over confident, I believe gambling could be a source of extra income for, so always I needed some cash for different reasons, I would place few bets and cashout the money immediately to my banking account. It's true that it worked for a while, but it didn't take too long and I was already facing long loss streaks and consequently long term losses. Then I realized I should stop, without risking money in an attempt to recover what was gone. Thankfully I didn't get addicted, neither lost funds which compromised my life entirely.

About the second mentioned factor, greed, what I can say is that it's also related to over confidence, because when you are over confident you tend to turn yourself into a greedy person. Nothing is enough and you always want more and more, as you think you are totally able to keep it working in a sustainable basis. Then the thoughts get too big in your head, that is, you become a megalomaniac delusional about luxurious, boasting and fancy achievements to be reached through gambling income. The good thing is that once you realize you aren't so powerful like you assumed in a first moment, you tend to slow down your greed and become more humble, once again.

Greed comes from its meaning, meaning a person cannot be controlled, not even himself. In short, there is no greed that can be controlled; that's why it's called greed. And also, greed is similar to chasing losses. Because of the greed in making money, a person or gambler may come to the conclusion of chasing the losses in order to recover the money, but because of the greed in money, they could control themselves. Greed is one of the most deadly sins, as it can push people to do something out of their character and social norms. It can sometimes be the means of a human doing inappropriate or criminal acts. That's why greed is the most dangerous characteristic a gambler could manifest, because he will never be satisfied because of it. I once got consumed by my own greed, but I never let it take full control of my mind and helped myself to take that greed away.

We all came to the point which we encounter this feeling especially that we been carried out by emotions when we are in climax for winning some amount while playing. That's why sometimes we commit huge mistakes by not thinking smart and stop when we can possibly take out those good profits.

But we always end up regret on the decisions we do since at the end of the day for having such feeling we sometimes end up losing and we realize after that what we do earlier is really bad action to take.


But good for people who think about not doing the same mistake again on next time they bet since for sure they can adjust and do good gambling approach on each decision they do.

Greed is repeated because the player don't easily control the urge of winning big. Gamblers want to live a large lifestyle, going for vacations and living exotic life with their winnings. Those fantasies have clouded the consciousness of the gambler and he's determined to achieve the goal of gambling and winning huge amount of money. Hence, such players are expected to keep on trying same mistake over and over until he gets tired or learns from his mistake. Being comfortable, is mostly with the gamblers who has won some amount of money and thinks things would continue to be the same. They end up wagering all the funds without applying any precautions regarding money management and other related skills needed to control our money from being overspent in gambling. Why they repeat this is self-accustomed from one player to another, which matters, need to be addressed for the safety of gamblers, not to get problematic in the process.

Gambling is like honey, the more you try it the sweeter it is, there are many factors that cause them to make the same mistakes in gambling, not just greed or overconfidence, The ambition factor of wanting to beat the bookie is also a fatal mistake that gamblers often make, they already know that certain types of games are unlucky for them but still the desire to place bets again and again continues to be done.

The world of gambling currently has a high hypnosis on humans, no matter how much money has been spent and people who have become victims, but repeating the same mistakes keeps repeating itself, Try to control your gambling, don't let your gambling control you, that way we will avoid mistakes that we want to repeat.

Greed is not bad. It is only bad when it is not controlled. It is uncontrolled greed "kills" gamblers. Gamblers who have a strategy or plan in place are less likely to make a mistake twice. Greed is not a mistake the mistake is chasing losses, spending more money than you have already budgeted in gambling, over gambling, gambling with money that they can't afford to lose, loaning money to gamble . These are the he repeated mistakes that should be avoided but most gamblers keep on making.