Topic: Gambling mistake repeated by the gamblers - page 38. (Read 6251 times)

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.

greed is something that is most often experienced by gamblers, even people who have been gambling for a long time sometimes still cannot control their greed. it's like being a bad trait, which if it is not controlled by the gambler it will become something that will have a bad impact on the gambler and it might affect the gambler's mentality, because when they are too greedy it might lead to addiction.

Greed is a basic human nature so it is difficult to avoid. Humans are never satisfied and increase the bets after getting a bigwin. He only realized after everything that his win was over and then he would regret it. But it was too late and his bigwin turned into a losses

The best way for me is withdraw all the winnings and enjoy it to satisfy myself. When our money runs out, we can start gambling again, of course with small capital. This method will make our minds fresher, instead of losing again at the casino, it will actually make us stressed

Being greedy is for sure the biggest and most often committed by gamblers nd I just cannot blame those who are experiencing such challenge. We are all chasing for profit in gambling which deceives and pushes us to go further despite of huge loss. Solution to this is simply self-discipline. However, why are we still struggling? We are all aware of controlling oneself whenever we are gambling however it is hard to impose and actualize to ourselves. If you'd look for an instant result then that's impossible  You may do it one at a time, slowly but surely. Try to set a limit on the amount you would wager and deposit. Avoid staying your funds or extras in your account 'coz there's a tendency to be tempted of using it to play more. Make it a habit as well to take a pause whenever you are feeling unlucky. Winning will never be in our control so better focus on being preventive of huge loss.Maybe he is referring to gambler's will to push his luck and be hoping to get a win or to at least get back with what he lost. Confidence comes in many forms. Not because a gambler is in huge loss, he will easily accept it. Well that's just how gambling works but will never guarantee that you will eventually win, which is the fact that we often disregard.

I think having excessive amounts of confidence could cloud one’s ability to think straight. And it could ruin the good thing you had going for you as you could also lose a good portion, if not all of your winnings gotten beforehand in a fell swoop.

And for a newbie just entering the gambling scenes, over confidence could be disastrous. Having a winning streak, he’s probably thinking he’s having a “first time gamblers luck”. He’ll probably try out with bigger bets hoping for a bigger win and that’s where he’s likely to start having doubts about “first time gamblers luck”.

Still hoping for some sort of luck, he’ll probably chase his losses and end up losing even more. Then head home with a bitter experience as he thinks back on the money he won and then lost.

With my very first wins, I was somewhat over confident and placed more bets with higher amounts. The outcome of those games quickly dissipated any and all excessive confidence I had from that point.

The cycle continues on which on the time that a certain gambler would really be having those consecutive losses and on the time that they would really be able to have some win, then those disappointments and anger would really be wiped out instantly on which those gamblers would really be continuing on playing until they wont really be able to because of lacking money or having no funds at all.
This is where realization would be kicking in, on the time that they do suffer those unfortunate conditions on which we know that this is really just that typical.

Its a common mistake and this is why gambling business is really that a profitable business for those people who do decide on running on but of course it wont really be that a guarantee
that you would be able to succeed as an owner on which we know that competition into this market is also high. There would really be no assurance that you would really be able to make
yourself that success as an owners perspective.

It's better to have the overconfidence but risk what you can afford to lose than having greed, a greedy gambler can never stick with what they can afford to lose, they always want the highest number of odds, they want to make that money faster, this is what they do.

Overconfidence on small money is still a safe gambling plan, if your overconfidence cost you the money that you lost is something you are prepared to lose but the game only choose to not work out in your favor, it's way better than greed.

Greed makes a gambler leave his or her safety boundary and start taking higher risk, they are the type that have no patience, when they run out of money they will look for someone to lend them instead of them to wait for another day when they make extra money.