Greatest Gambling Losers - page 5. | Bitcointalksearch.org

dunfida

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Quote from: Joca97 on July 30, 2021, 04:37:30 PM

This loss are so degen that i cannot explain it. How do you bet this big. Gambling should be for fun especially in casinos. I still dont understand how people loss such a big amount. How do they even carry that amount of money with them or how the bank allows such transcations

When you do have the money then you can do all things that you want and there would be no prohibitions from banks since you are also one of their big clients and wont be tending to make out some rejections or prohibitions on what would you do into your money.

We do just accept the fact that there are people on this world are wealthy enough to spend out lots of cash into particular things and its none of our business on how they would gonna do into their cash.

Yes, those losses are massive and some do end up on a suicide.This is clearly showing on how gambling addiction would really cost you.

pinggoki

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Importance of always imposing control upon yourself before you gamble. Debts are just the tip of the problem iceberg when you invest too much on your gambling addiction and release any form of regard on your mental health or even your social life. Addiction is not something you could laugh about, especially gambling addiction because it is almost always a gateway to harder forms of addiction such as alcohol or drug addiction in some cases. So whenever you feel like you have been gambling too much or gambling too hard, take that important breather to relieve yourself of the mental stress and invest in something else that will help you release the stress. Winning isn't always the best thing in gambling anyway, but most of all it is the prevention of all forms of losses.

Quote from: Joca97 on July 30, 2021, 04:37:30 PM

This loss are so degen that i cannot explain it. How do you bet this big. Gambling should be for fun especially in casinos. I still dont understand how people loss such a big amount. How do they even carry that amount of money with them or how the bank allows such transcations

Well some people see gambling as a get-rich-quick scheme which sometimes it is but almost always isn't. These types of people lose money on gambling, will probably ask for loans to a loan shark, and then incur more losses in the process, which will then cause them to be hunted for their lives because there's no way you can pay that much money when you're already stuck in the deep mire of gambling addiction.

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This loss are so degen that i cannot explain it. How do you bet this big. Gambling should be for fun especially in casinos. I still dont understand how people loss such a big amount. How do they even carry that amount of money with them or how the bank allows such transcations

Lordhermes

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Quote from: LUCKMCFLY on July 30, 2021, 01:41:06 PM

Quote from: Rruchi man on July 29, 2021, 04:10:00 PM

The caveat here is that one should always gamble responsibly regardless. Today, I heard the story of some folk who sold his parent's house, and then used the money to gamble. He lost all the money and was wrecked physically, emotional and psychologically. We shouldn't be that guy. Another example, in Kenya, one Mr Karanja lost about $5,000 during a six-year gambling period. Also, in 2016, a university student committed suicide after losing about $790 on a bet. Sad. Always know when to stop and call it quits.

This is something very painful, those are the effects of not having control of the money available to play, in 2017 I always played freebitco.in and once I lost everything, I do not deny it, I felt bad for about a week, but then I learned that I could not bet more with the Martingale strategy, and I also realized that it is best to accumulate small profits, that this should be seen as a business, and not as a method to earn quick money, for this reason is that people enter in crisis and sometimes make the worst decisions out of desperation.

It is devastating to see people loose such amount of money because of gambling,lack of control and misplacement of priority results to that. Most people see gambling as a means of doubling their income.The fact that it worked for you once,does not mean that it will always work for you. We just have to be mindful on how we invest our income in gambling.

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Quote from: Rruchi man on July 29, 2021, 04:10:00 PM

The caveat here is that one should always gamble responsibly regardless. Today, I heard the story of some folk who sold his parent's house, and then used the money to gamble. He lost all the money and was wrecked physically, emotional and psychologically. We shouldn't be that guy. Another example, in Kenya, one Mr Karanja lost about $5,000 during a six-year gambling period. Also, in 2016, a university student committed suicide after losing about $790 on a bet. Sad. Always know when to stop and call it quits.

This is something very painful, those are the effects of not having control of the money available to play, in 2017 I always played freebitco.in and once I lost everything, I do not deny it, I felt bad for about a week, but then I learned that I could not bet more with the Martingale strategy, and I also realized that it is best to accumulate small profits, that this should be seen as a business, and not as a method to earn quick money, for this reason is that people enter in crisis and sometimes make the worst decisions out of desperation.

Rruchi man

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The caveat here is that one should always gamble responsibly regardless. Today, I heard the story of some folk who sold his parent's house, and then used the money to gamble. He lost all the money and was wrecked physically, emotional and psychologically. We shouldn't be that guy. Another example, in Kenya, one Mr Karanja lost about $5,000 during a six-year gambling period. Also, in 2016, a university student committed suicide after losing about $790 on a bet. Sad. Always know when to stop and call it quits.

lixer

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"Gambling" in the words sense is basically just risking something for a bigger gain or a loss. In that situation we could say that even the generals of history are gamblers, they gambled on a war and either ended up losing or winning. My personal biggest loss came when I gambled away 2 bitcoins, but that was like years ago when they didn't worth anything.

My second biggest is when I quit my job and became full time crypto worker, which paid off like crazy, I am very very happy with that decision, I am hoping to take that to retirement hopefully and that will be my third, work hard on crypto and retire without working ever again. So, we can't really say who is the greatest gambling loser since it is not just about money, I am sure there are many people who lost 100+ million on gambling, I personally saw a guy lose 6+ million dollars on bustabit just a few months back.

traderethereum

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Quote from: FontSeli on October 19, 2020, 03:47:05 PM

These people lost huge amounts of money. Most likely, they earned this money very easily and without problems. Something that is easily earned is also easily spent. We can see that some of them (for example, Zhenli Ye Gon) got money by committing crimes, which confirms my words that money was earned very easily.

If that so, the win money from gambling game would be a "hot money" that will be gone fast Grin

Actually, people see the chance of losing much money in gambling, but they tend to continue and hope that the next game will be their luck.
That is what we saw from gambling and makes many people spend more money to win some money that is not worth doing.
But if that gambling can be our pleasure to have fun from the gambling games and do not spend too much money, that will not be a problem as we still have the other money that we can use for other things.

LUCKMCFLY

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For the most part, in the game, the greatest likelihood of losing is superior to winning, it is always good to organize a number of money to lose, that is, if we assign a money that we are willing to lose without any prejudice is much better, since The brain will give it for lost, and if in the game you lose it, it will not hurt, it will not fall into vice and apart, you will not be stressed.
I think the greatest losers of the game is when you lose a lot, and you continue betting without control and continue with the bad streak until you have already already funds, this is where the risk control enters, it is similar to the trading when it is used by the "STOP Loss ", since what is willing to lose without risking more

mavilian

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Gambling is a dangerous game. It can make you a millionare and then take everything away overnight. I read hundreds of success and failure stories and I was impressed by the sheer number of people that got lucky and then turned out to be murderers or throw everything away on drugs or other illicit activites.

Lucasgabd

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Quote from: iamsheikhadil on October 19, 2020, 08:07:23 AM

Quote from: Lucasgabd on October 06, 2020, 01:54:22 PM

<...>

Not really, as one loses more in gambling, they don't generally care about how much they still have. If I have a billion dollars, and I lose one million, I won't really care that I still have 999 million dollars, I would start to bet really crazy till either I win so much that I come back to my senses or I lose it all. It's really very hard to stop it. I'm pretty sure these guys have lost a major chunk of their money and net worth that they have regretted about it a lot!

this argument has some problems and it's really interesting to observe that:
1. only because you do something in a way it doesn't mean everybody would do it like that. People behave differently
2. it's rare, but trust me: some people have good risk management.

Lanatsa

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Quote from: Porfirii on October 19, 2020, 04:37:29 PM

Really huge losses Shocked

thanks for sharing the info.

I can only think the following: profit for the casinos Cheesy

I hope they only lost what they were willing/could afford to lose.

These businesses wont exist if there would be no gamblers who are losing tons of money, we cant see everynow and then on new sites that popping out or
gambling places that had been built since this had been a profitable business.

Of course, as business then profits will be the main priority nothing more.My mind cant really just comprehend on how much they do lost in a short span of time
or do make money out of pennies.This is how gambling works.

You cant really just believe on some cases that people are really that desperate and ending up with those kind of decision.

Porfirii

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Really huge losses Shocked

thanks for sharing the info.

I can only think the following: profit for the casinos Cheesy

I hope they only lost what they were willing/could afford to lose.

FontSeli

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These people lost huge amounts of money. Most likely, they earned this money very easily and without problems. Something that is easily earned is also easily spent. We can see that some of them (for example, Zhenli Ye Gon) got money by committing crimes, which confirms my words that money was earned very easily.

ethereumhunter

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Quote from: Lucasgabd on October 18, 2020, 09:18:53 AM

a simple way, for those who want a more practical answer:
calculate 1% of your gambling portifolio and never lose more than 1% on each bet.

OR

only separate 1% of your total wealth for gambling and give yourself the luxury to loose it all if making a wrong bet.

I prefer to use 1% of my total wealth for gambling, and not add more money to just playing gambling. I don't think it is easy to never lose more than 1% on each bet because the emotion can be bigger, and we can use more than just 1%.

Quote from: qwertyup23 on October 19, 2020, 06:11:05 AM

The key to gambling will always be on how you manage your resources well. With proper managing of resources comes with discipline and self-control over it.

I remember that I mentioned about the gambler's cycle; wherein a gambler will continue to play until he/she recovers his/her losses in a given round. Unfortunately, this landslides quickly resulting to the exhaustion of their resources until the end. That is why if you plan to gamble, just bring limited amounts of cash with you so you can avoid this cycle.

I don't think that he can recover his losses easily because his chance to lose more money will still be there. I prefer to limit my money to avoid bigger money, and that can be a sign for me if I almost run out of my money, so that means I need to stop gambling as soon as possible before my money is really gone.

iamsheikhadil

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Quote from: Lucasgabd on October 06, 2020, 01:54:22 PM

the main thing is still:
not gambling more than one can afford to loose.

it's intresting to know about the greatest losers and all, but I'd be curious to know what was the % of the loss in relation to their total wealth.

keep it as less than 3% and it'll be much easier to survive.

Not really, as one loses more in gambling, they don't generally care about how much they still have. If I have a billion dollars, and I lose one million, I won't really care that I still have 999 million dollars, I would start to bet really crazy till either I win so much that I come back to my senses or I lose it all. It's really very hard to stop it. I'm pretty sure these guys have lost a major chunk of their money and net worth that they have regretted about it a lot!

freedomgo

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Quote from: Lucasgabd on October 18, 2020, 09:18:53 AM

only separate 1% of your total wealth for gambling and give yourself the luxury to loose it all if making a wrong bet.

I like that, 1% would not make you poor because you still have the 99%. People sometimes think that the amount you can afford to lose is based on the specific amount, I say it's based on percentage as not everyone has the same financial status.

Let's say I'm a billionaire and I have like $5 billion as my net worth, so I could gamble $50 million without a problem as that is only 1% of my net worth.

Other may people think I'm crazy as that's a big money.

qwertyup23

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Quote from: ethereumhunter on October 17, 2020, 05:38:16 AM

Quote from: ?? on ??

So it is important for each player to first know how much they can afford to lose and play accordingly. Just by reading somebody won so much etc and feel that even they can also win the same or more might not happen. Each one has different luck and skills so judge yourself and check your own position and then gamble because once lost big money then nothing else is left later other than regretting it.

Yes, it is important to know how much money we can afford, so we know how to manage the money. I think we don't have to feel jealous of other people luckiest because they can not always get lucky all the time, and that is what we get it too. We need to avoid the big loss in gambling because we will hard to recover the loss once we cannot control ourselves. I am sure we already see many gamblers losing their money because we don't know how to manage the money.

The key to gambling will always be on how you manage your resources well. With proper managing of resources comes with discipline and self-control over it.

I remember that I mentioned about the gambler's cycle; wherein a gambler will continue to play until he/she recovers his/her losses in a given round. Unfortunately, this landslides quickly resulting to the exhaustion of their resources until the end. That is why if you plan to gamble, just bring limited amounts of cash with you so you can avoid this cycle.

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Quote from: ethereumhunter on October 17, 2020, 05:38:16 AM

Quote from: ?? on ??

So it is important for each player to first know how much they can afford to lose and play accordingly. Just by reading somebody won so much etc and feel that even they can also win the same or more might not happen. Each one has different luck and skills so judge yourself and check your own position and then gamble because once lost big money then nothing else is left later other than regretting it.

Yes, it is important to know how much money we can afford, so we know how to manage the money. I think we don't have to feel jealous of other people luckiest because they can not always get lucky all the time, and that is what we get it too. We need to avoid the big loss in gambling because we will hard to recover the loss once we cannot control ourselves. I am sure we already see many gamblers losing their money because we don't know how to manage the money.

a simple way, for those who want a more practical answer:
calculate 1% of your gambling portifolio and never lose more than 1% on each bet.

OR

only separate 1% of your total wealth for gambling and give yourself the luxury to loose it all if making a wrong bet.

ethereumhunter

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Quote from: ?? on ??

So it is important for each player to first know how much they can afford to lose and play accordingly. Just by reading somebody won so much etc and feel that even they can also win the same or more might not happen. Each one has different luck and skills so judge yourself and check your own position and then gamble because once lost big money then nothing else is left later other than regretting it.

Yes, it is important to know how much money we can afford, so we know how to manage the money. I think we don't have to feel jealous of other people luckiest because they can not always get lucky all the time, and that is what we get it too. We need to avoid the big loss in gambling because we will hard to recover the loss once we cannot control ourselves. I am sure we already see many gamblers losing their money because we don't know how to manage the money.

Topic: Greatest Gambling Losers - page 5. (Read 2828 times)