Hard earned money - Busted in seconds - page 12.

m2017

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Quote from: goldkingcoiner on May 09, 2022, 06:00:12 AM

So how much did OP lose actually? I am quite curious as to the full amount he did not say.

Apparently, this is a significant amount for him, if it is ~ 17% of his annual income.
The amount of the entire amount is not so important, since for people with different income levels, this will have a completely different meaning. For some it's not enough, for others it's a lot. The important thing is that this is his 2 months of work or ~17% of his annual income. So consider if a loss of 16-17% of income per year would be significant for your financial situation.

Quote from: goldkingcoiner on May 09, 2022, 06:00:12 AM

Either way, I know the feeling. I have lost more than 2 months of hard earned/saved money and most of it went towards not even a good game.

Sooner or later, every gambler is destined to face this feeling.

Quote from: goldkingcoiner on May 09, 2022, 06:00:12 AM

I wonder, do crypto casinos offer monthly spending limits? I think that would be a very good idea since a lot of people have developed gambling problems and need a way to stop their gambling losing streaks after a certain amount. I know I would definitely benefit from such a function.

I have doubts that crypto casinos will take this step, because it reduces their profitability. Why should they do something that directly affects profitability. I think it's more likely that casinos will make a monthly limit on winnings.

Quote from: goldkingcoiner on May 09, 2022, 06:00:12 AM

The online gambling casino would probably lose money like that, so I doubt they would offer such convenient services to their customers. Grin

Absolutely.

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Quote from: Fredomago on May 09, 2022, 12:35:26 PM

...
in most cases, gamblers who can't move forward will be more aggressive in trying another shots and ended up losing more.
...

the best solution in this case is just stop gambling at least for some months because it has become a negative and no longer pleasant experience. It is practically impossible to be able to recover such a large amount by "winning". On the contrary, it's relative easy take a greater risk by chasing the winnings.

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Quote from: robelneo on May 09, 2022, 10:01:59 AM

Quote from: pawanjain on May 09, 2022, 08:02:45 AM

Quote from: romero121 on April 29, 2022, 08:59:56 PM

It was almost two months hard earned money. Got busted in few minutes. I don't know why I wasn't able to have me within the limits. Just started with a $3 bet, but it went upto $98 and ended with empty wallet. This is completely unlucky, because every bets were placed to roll above 20 which means the winning probability is quite high. Anyhow I wasn't in control and I didn't follow the rule gamble what you can afford to loss. It was a money saved to repay a debt. Now once again the interest needs to be paid so to manage the debt for some more time. Unlucky me Sad

That's what happens when we don't follow the basic rules of gambling. But I think you have learnt your lesson.
Most of us have faced this because of the uncontrollable urge to recover the money we lost in the previous bets.
Thus we end up using all our money to recover the amount we used since the start of gambling.
But it's better to limit our losses for the day and come back another day if we are losing a lot on a particular day.
Controlling the emotions is where many fail and hence lose all their money.

The best lesson that will really sink is the one that will hurt us in OP's case, it's his pocket and of course, his motivation because he needs to work hard to pay the debt and the interest, this is money that you can't afford to lose, this is the kind of situation where no gamblers want to be in, it's ok if it's your own money but this is not your money and it is incurring interest.

Yes, it will continue to haunt OP since he needed to pay the debt and possibly that additional interest, not easy to forget as he will always remember that mistake that he made while playing the game, in most cases, gamblers who can't move forward will be more aggressive in trying another shots and ended up losing more.

It's better for OP to move on and try to forget this bad fate that happened to him. Gambling is not a good place to try winning
decent amount of money, even you are just trying to enjoy and be entertained if you don't have good control, you'll end up losing
big amount of money.

og kush420

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Quote from: robelneo on May 09, 2022, 10:01:59 AM

Quote from: pawanjain on May 09, 2022, 08:02:45 AM

Quote from: romero121 on April 29, 2022, 08:59:56 PM

It was almost two months hard earned money. Got busted in few minutes. I don't know why I wasn't able to have me within the limits. Just started with a $3 bet, but it went upto $98 and ended with empty wallet. This is completely unlucky, because every bets were placed to roll above 20 which means the winning probability is quite high. Anyhow I wasn't in control and I didn't follow the rule gamble what you can afford to loss. It was a money saved to repay a debt. Now once again the interest needs to be paid so to manage the debt for some more time. Unlucky me Sad

That's what happens when we don't follow the basic rules of gambling. But I think you have learnt your lesson.
Most of us have faced this because of the uncontrollable urge to recover the money we lost in the previous bets.
Thus we end up using all our money to recover the amount we used since the start of gambling.
But it's better to limit our losses for the day and come back another day if we are losing a lot on a particular day.
Controlling the emotions is where many fail and hence lose all their money.

The best lesson that will really sink is the one that will hurt us in OP's case, it's his pocket and of course, his motivation because he needs to work hard to pay the debt and the interest, this is money that you can't afford to lose, this is the kind of situation where no gamblers want to be in, it's ok if it's your own money but this is not your money and it is incurring interest.

In our country gambling is prohibited because one loose control and it is not a good sign.
I won't say to stay away from gambling but be very very careful who you gamble - sorry for your loss though.

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Quote from: pawanjain on May 09, 2022, 08:02:45 AM

Quote from: romero121 on April 29, 2022, 08:59:56 PM

It was almost two months hard earned money. Got busted in few minutes. I don't know why I wasn't able to have me within the limits. Just started with a $3 bet, but it went upto $98 and ended with empty wallet. This is completely unlucky, because every bets were placed to roll above 20 which means the winning probability is quite high. Anyhow I wasn't in control and I didn't follow the rule gamble what you can afford to loss. It was a money saved to repay a debt. Now once again the interest needs to be paid so to manage the debt for some more time. Unlucky me Sad

That's what happens when we don't follow the basic rules of gambling. But I think you have learnt your lesson.
Most of us have faced this because of the uncontrollable urge to recover the money we lost in the previous bets.
Thus we end up using all our money to recover the amount we used since the start of gambling.
But it's better to limit our losses for the day and come back another day if we are losing a lot on a particular day.
Controlling the emotions is where many fail and hence lose all their money.

The best lesson that will really sink is the one that will hurt us in OP's case, it's his pocket and of course, his motivation because he needs to work hard to pay the debt and the interest, this is money that you can't afford to lose, this is the kind of situation where no gamblers want to be in, it's ok if it's your own money but this is not your money and it is incurring interest.

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Quote from: joeperry on May 08, 2022, 07:10:20 AM

Quote from: madnessteat on May 08, 2022, 06:20:41 AM

This is one of the basic rules that I use when gambling. Immediately after any significant winnings I leave the casino. But according to my statistics, even this rule does not allow me to get rich by gambling. This approach allows you to spend money somewhere else and enjoy it rather than lose every last cent and leave the casino with nothing.

I agree with that but I don't just leave the casino and move to other gambling site but I withdraw it with no chance of playing those credits that I withdraw since my strategy before is if I win a significant amount I withdraw it and move to other gambling site which I lose at some point so I think this rule is good for not much of a gambler players.

So your goal was to try to beat the casino and I pursue a completely different goal - to develop self-discipline and test the strength of my risk management when playing gambling. Of course I've had mistakes when I've lost large sums of money, but lately I've managed to control myself very well.

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Quote from: romero121 on April 29, 2022, 08:59:56 PM

It was almost two months hard earned money. Got busted in few minutes. I don't know why I wasn't able to have me within the limits. Just started with a $3 bet, but it went upto $98 and ended with empty wallet. This is completely unlucky, because every bets were placed to roll above 20 which means the winning probability is quite high. Anyhow I wasn't in control and I didn't follow the rule gamble what you can afford to loss. It was a money saved to repay a debt. Now once again the interest needs to be paid so to manage the debt for some more time. Unlucky me Sad

That's what happens when we don't follow the basic rules of gambling. But I think you have learnt your lesson.
Most of us have faced this because of the uncontrollable urge to recover the money we lost in the previous bets.
Thus we end up using all our money to recover the amount we used since the start of gambling.
But it's better to limit our losses for the day and come back another day if we are losing a lot on a particular day.
Controlling the emotions is where many fail and hence lose all their money.

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Quote from: KTChampions on May 09, 2022, 07:12:39 AM

Quote from: harizen on May 08, 2022, 06:20:47 PM

Quote from: KTChampions on May 08, 2022, 03:02:26 PM

This is a difficult theoretical question Grin

The problem is that "knowing the right thing" and "doing the right thing" are so different things that sometimes they don't intersect at all. Therefore, "not stupid" gamblers, who seem to understand everything, nevertheless make childish mistakes. This happens for various reasons, but also because being "theoretically" smart and acting smart in practice are two different things.

Honestly, the majority:

- know the right thing to do,
- they understand the risks,
- they know the consequences,
- they know what will be the result of what they're doing

... but since they want to test their luck, they will disregard these as what if they won? That's another story.

However, the most common and usual result is losing and there is no other thing to do but to accept the loss and move on.

Basically, they don't test their luck, they try to get adrenaline (and they succeed). Another thing is that such thrills require constant replenishment, including by increasing the bet. In general, there are many different scenarios, but in a very rare case, you can accuse someone of stupidity and misunderstanding of elementary things - people know what they are doing.

Many gamblers who enjoy getting adrenaline, thrill and excitement of gambling use the risks of losing money as an intoxicating drug. Most of them want to feel the excitement as a "relief" (like having sex) and they don't want to spend time thinking what's happening with their money.

This habit of betting is very dangerous, and many people end up with big losses. Even worse, their attitude with the losses will be extremely negative. This tendency to get addicted, and the consequent extreme risk-taking, can be another sign of gambling addiction.

Very often, people begin their gambling career with one of the most common reasons - to make money. Their strategies may be simple and casual, and in the beginning they may feel pretty successful. After some time, they may become quite greedy, and the greed will cause them to lose much more than their desired amount. At that point, the gambling may lead to total failure and bankruptcy.

asus09

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Quote from: ipanks on May 09, 2022, 05:52:55 AM

Quote from: judeafante on May 08, 2022, 05:59:44 PM

Quote from: madnessteat on May 08, 2022, 06:20:41 AM

snip

It is very rare for people to get rich from gambling and most of them lose a lot of money, especially people who gamble more than anyone else. That is why you need to have control over yourself so that you can minimize your loss of money in gambling and you can still enjoy playing gambling. If we manage to get a lot of winning money, then we must stop immediately and never try to press the Roll button, even if only once, because it will make us tempted to press it continuously.

I totally agree with your review, it is very rare for rich people to play gambling, because most of us when we play gambling it is very difficult to control ourselves, most of the money runs out in seconds, I personally have experienced something similar, my life was destroyed in a matter of seconds. a matter of seconds, even the money to invest I withdraw for me to play gambling, learn from existing experience, I have now learned to take care of myself to be able to cope with gambling.

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Quote from: harizen on May 08, 2022, 06:20:47 PM

Quote from: KTChampions on May 08, 2022, 03:02:26 PM

This is a difficult theoretical question Grin

The problem is that "knowing the right thing" and "doing the right thing" are so different things that sometimes they don't intersect at all. Therefore, "not stupid" gamblers, who seem to understand everything, nevertheless make childish mistakes. This happens for various reasons, but also because being "theoretically" smart and acting smart in practice are two different things.

Honestly, the majority:

- know the right thing to do,
- they understand the risks,
- they know the consequences,
- they know what will be the result of what they're doing

... but since they want to test their luck, they will disregard these as what if they won? That's another story.

However, the most common and usual result is losing and there is no other thing to do but to accept the loss and move on.

Basically, they don't test their luck, they try to get adrenaline (and they succeed). Another thing is that such thrills require constant replenishment, including by increasing the bet. In general, there are many different scenarios, but in a very rare case, you can accuse someone of stupidity and misunderstanding of elementary things - people know what they are doing.

goldkingcoiner

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So how much did OP lose actually? I am quite curious as to the full amount he did not say.

Either way, I know the feeling. I have lost more than 2 months of hard earned/saved money and most of it went towards not even a good game.

I wonder, do crypto casinos offer monthly spending limits? I think that would be a very good idea since a lot of people have developed gambling problems and need a way to stop their gambling losing streaks after a certain amount. I know I would definitely benefit from such a function.

The online gambling casino would probably lose money like that, so I doubt they would offer such convenient services to their customers. Grin

ipanks

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Quote from: judeafante on May 08, 2022, 05:59:44 PM

Quote from: madnessteat on May 08, 2022, 06:20:41 AM

snip

It is very rare for people to get rich from gambling and most of them lose a lot of money, especially people who gamble more than anyone else. That is why you need to have control over yourself so that you can minimize your loss of money in gambling and you can still enjoy playing gambling. If we manage to get a lot of winning money, then we must stop immediately and never try to press the Roll button, even if only once, because it will make us tempted to press it continuously.

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Quote from: Boristhecat on April 30, 2022, 02:46:28 AM

Sad to hear. Although the idea was initially bad (trying to win money given that you have debt to service). I could be wrong, but judging by the amount of the bet, not everything is so bad and you can recover even just by keeping earnings from your signature.
In any case, thanks for your thread. Many gamblers brag about their winnings and the fact that you shared a loss will be useful for those who might think that everything is so simple and easy here.

very sad though - I would like to know what has OP learnt from his mistake. This is such a huge loss.
In our country gambling is prohibited due to the reason that one loose control and it results in the trouble for life. So we abstain from gambling and use our money very wisely. Also we are not rich so we take care of each penny - we can't afford losing even a single dime to the entertainment

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Quote from: KTChampions on May 08, 2022, 03:02:26 PM

Quote from: decodx on May 07, 2022, 02:21:55 PM

Quote from: KTChampions on May 07, 2022, 12:14:28 PM

It is quite obvious that if I do not want to lose money then I should not gamble. Gambling is entertainment, not earnings, the one who thinks otherwise and "invents" strategies to beat the casino is engaged in self-deception. There are some ways to make money in the casino, but this has nothing to do with gambling and is also painstaking work.

The majority of gamblers are not stupid, and know full well that the odds are stacked against them. It is their lack of self-discipline that makes them stick to their bad habits. The bottom line is that gamblers lose money and there is nothing anybody can do to change that. But some people, on the other hand, will persist in gambling regardless of their losses. They are enjoying the "high" of winning and therefore they continue gambling.

Don't get me wrong, I am not advocating against gambling, but many people – including myself sometimes – like gambling for its thrill. We like games and risk. It is part of the human nature, but we have to know how to balance it in our lives and always be cognizant of the dangers.

This is a difficult theoretical question Grin

The problem is that "knowing the right thing" and "doing the right thing" are so different things that sometimes they don't intersect at all. Therefore, "not stupid" gamblers, who seem to understand everything, nevertheless make childish mistakes. This happens for various reasons, but also because being "theoretically" smart and acting smart in practice are two different things.

indeed gamblers can not be said to be stupid. because they know the risks they are taking. and what opportunities do they get. I think they are very smart. they sometimes know which steps are wrong and which are right. but the fault is that in taking their actions they sometimes turn around or don't agree with their own thoughts. For example, A knows that the opportunity is very slim and the risk is greater. but just because person A knows it doesn't mean he will back down. even if he could move forward.
Well here we can say that the gambler's mind is smart. but emotionally those who are beginners are often carried away by emotions so that they ignore their logic or clever minds.
This is actually what I've experienced too. my emotions sometimes contradict my logic.

but this is precisely the uniqueness and pleasure in gambling. but my seniors they are more able to adjust their emotions and according to logic. so they always have a great opportunity with a commensurate risk.

and the true gamblers are those who like challenge and suspense.

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Quote from: harizen on May 08, 2022, 06:20:47 PM

Quote from: KTChampions on May 08, 2022, 03:02:26 PM

This is a difficult theoretical question Grin

The problem is that "knowing the right thing" and "doing the right thing" are so different things that sometimes they don't intersect at all. Therefore, "not stupid" gamblers, who seem to understand everything, nevertheless make childish mistakes. This happens for various reasons, but also because being "theoretically" smart and acting smart in practice are two different things.

Honestly, the majority:

- know the right thing to do,
- they understand the risks,
- they know the consequences,
- they know what will be the result of what they're doing

... but since they want to test their luck, they will disregard these as what if they won? That's another story.

However, the most common and usual result is losing and there is no other thing to do but to accept the loss and move on.

One thing I have noticed is that even if people can understand something at an intellectual level once they are the ones that are faced with a decision they will simply go with their feelings even if they know that what they are doing is not precisely the best choice, basically they believe they are some kind of exception to the rule and they can afford to take more risks than the average person, and then once they find out this is not the case they get mad this was not the case, even when they know that what the did was wrong.

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Quote from: KTChampions on May 08, 2022, 03:02:26 PM

This is a difficult theoretical question Grin

The problem is that "knowing the right thing" and "doing the right thing" are so different things that sometimes they don't intersect at all. Therefore, "not stupid" gamblers, who seem to understand everything, nevertheless make childish mistakes. This happens for various reasons, but also because being "theoretically" smart and acting smart in practice are two different things.

Honestly, the majority:

- know the right thing to do,
- they understand the risks,
- they know the consequences,
- they know what will be the result of what they're doing

... but since they want to test their luck, they will disregard these as what if they won? That's another story.

However, the most common and usual result is losing and there is no other thing to do but to accept the loss and move on.

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Quote from: madnessteat on May 08, 2022, 06:20:41 AM

This is one of the basic rules that I use when gambling. Immediately after any significant winnings I leave the casino. But according to my statistics, even this rule does not allow me to get rich by gambling. This approach allows you to spend money somewhere else and enjoy it rather than lose every last cent and leave the casino with nothing.

I am also doing the same it's hard to do when you are starting out, quitting at the right time or before you lose money and your mind, but once you established control and the habit, things will be easy and you enjoy the game, you only play with money that you can afford to lose, although the hardest thing is quitting when you are winning, quitting when you are losing is easy for me.

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Quote from: Kingsyoung on May 08, 2022, 08:38:17 AM

That's really a sad one ... Gambling can do one really bad sometimes!

There are two types of gamblers in the casino who come out when they have finished playing, one is the loser and one is the winner

If you can't control your emotions, manage your finances and are curious about your losses when playing at a casino (be it online or offline) then gambling is a thing that will never be good for you, it will continue to lead you to deep losses

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Quote from: Jody.Drummer on May 02, 2022, 08:03:21 AM

Happening again like this, even I shouldn't be right to say something like this and indeed this can be called a prerogative to have tutored someone who was here first but you need to look at some people who have been addicted to gambling and it didn't end well.
I think you know enough about it and let's just take it as a mistake and a reminder that you made such mistakes only in your short mind.
regret always comes at the end but regret without change of course this will not make meaningful results for your life

They say all that is overused is already harmful, and that is gambling definitely looks like. We may profit in the start, but at the end of the day all our profits may only turn into losses, and that's because of addiction. You are not alone in this situation OP, most of the gamblers have experienced this but the good thing is, others have overcome their addiction and start to gamble what they can afford to lose. Maybe a single mistake is needed first before a gambler learns his own lesson.

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Quote from: mirakal on May 08, 2022, 01:32:05 PM

Quote from: madnessteat on May 08, 2022, 06:20:41 AM

Quote from: Kakmakr on May 08, 2022, 05:01:23 AM

I have heard many of these stories before.... people posting in gambling chat that they started with $5 and they pushed it to $150 and then losing that money within a few minutes. I think we are greedy and as soon as you won something big, you increase your bet size and you lose it quicker. Roll Eyes

The old saying that says.... "The Only gambler that win, is the one that stops playing after a huge win" is so true. We win big.... and over time the casino just take back the winnings over time, because we do not stop playing. Roll Eyes

This is one of the basic rules that I use when gambling. Immediately after any significant winnings I leave the casino. But according to my statistics, even this rule does not allow me to get rich by gambling. This approach allows you to spend money somewhere else and enjoy it rather than lose every last cent and leave the casino with nothing.

That's pretty much better because you know how to control your gambling activities and know when is exactly the time to stop, but for others that gamble regularly, that simple strategy/rule is really that hard for them because most gamblers became more greedy especially if they've received some huge winnings as they believe it was their luck that day.

Gamblers who regularly gamble could be having big experience on how to spend and when to take break. Also, just because there is a winning streak they never intend to continue to gamble. What have been mentioned in the above quote is much connected to the common gamblers who think of making money regularly. Consider me, I enter when there is need of money and used to loss everything.

Topic: Hard earned money - Busted in seconds - page 12. (Read 3709 times)