Hard earned money - Busted in seconds - page 18.

Vaskiy

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Quote from: Issa56 on May 03, 2022, 05:20:01 PM

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

I don't think gambling is bad, but I think is bad being addicted to gambling, from the post I believe you lost l your money because of two reasons which are; you are addicted to gambling and also you are greedy. You started with $3 and you where able to grow the account, why don't you continue growing your account gradually? Also whenever you are gambling you should also learn to take your profit, you shouldn't just leave all your money there I believe you have learnt your lesson and also other forum users will be able to learn from your post.

Addiction is the major cause for the loss. If not, OP could've stopped rather than going for a higher amount and come back after some time. As suggested it is good to grow the account through wagers, and not get greedy just on experiencing some good wins. Taking profits too is a good thing, because leaving the profits will tend to go for higher amount which is taking big risk. Some might get lucky, whereas the majority won't.

passwordnow

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Quote from: Ziskinberg on May 02, 2022, 06:59:56 AM

Quote from: passwordnow on May 02, 2022, 06:55:29 AM

Quote from: fzkto on May 02, 2022, 06:28:25 AM

You should always follow your game strategy. When emotions begin to overcome, then you need to pause the game, it won't go anywhere from you and you can continue at any time. I'm not a gambler myself, but I can sometimes play poker, and sometimes I can raise the odds recklessly too. It almost always ends in a loss.

It is hard to pause when you are too emotional. You barely control yourself and for you to overcome, you wont be able to think on it when you are on the spot and situation. That makes it harder because you do not think of any other thing but just to gamble and have your bankroll or capital bank. And when you are dealing with that situation, that makes you reckless and you are out of control.
When you have nothing on your hands, that is the time you come to regret the action you made.

I agree because I also experience to lose control in gambling in the past, it takes a lot of losing experience before I learned how to control myself. Discipline is necessary, keep learning from your mistake and eventually, you'll mature as a gambler, the only principle to follow is to gamble what you can afford to lose and never think of considering gambling as a source of income, unless you are exceptionally good.

Those experiences that we've got are the ones that will dictate and teach us what we should do. From those huge mistakes, to little by little, they're going to be corrected and we're going to learn from them. Words are easy to say as advises too but when it's about the application of those words.
That's where the gambler is falling shortly and hardly going to follow.

Issa56

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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

I don't think gambling is bad, but I think is bad being addicted to gambling, from the post I believe you lost l your money because of two reasons which are; you are addicted to gambling and also you are greedy. You started with $3 and you where able to grow the account, why don't you continue growing your account gradually? Also whenever you are gambling you should also learn to take your profit, you shouldn't just leave all your money there I believe you have learnt your lesson and also other forum users will be able to learn from your post.

dunfida

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Quote from: zidanw on May 03, 2022, 10:15:00 AM

I know that nothing we could say here could take back the events, to prevent it, nor to change it back. But it is good to hear that OP has learned a lesson from this experience, despite the negativity of it all. And reading the responses here, I believe that forum users are also aware of such happenings and what must be abided in order to not be in this situation, which I hope that we may have the determination to always put into practice.

Its a common thing even if we dont really share it up publicly but we could really make out some self realizations on mistakes that we had committed out just because of some foolish actions came from our own

foolish beliefs towards gambling.If you cant handle out your addiction then you would really be likely to fall into this scenario on which you would be spending money which arent supposed to be spent

on gambling but it would depend if you are really serious on avoiding it on next time or you would tolerate it.So its your call!

TheGreatPython

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Quote from: BuNga_cute on May 02, 2022, 06:43:17 PM

I think it's okay to use hard earned money to gamble, but we should be able to limit the amount of money we will use to gamble. So the hard earned money that we have will not all run out, and the most important thing when gambling is to control our emotions, so we know when to stop and not continue to gamble until we lose all the money we have. From the very beginning the OP used the money saved to pay off the debt was the wrong decision, I hope the OP realizes his mistake and makes it a mistake not to do the same thing in the future. I also thank the OP for sharing what he went through, it is also a warning to all of us to be responsible gamblers. I suggest gambling with the extra money we have, meaning that we first fulfill all our needs.
Including paying debts, bills, and daily necessities. After that if there is still money left we can use it for gambling, the key is in ourselves how we manage money well, that way we can prevent what happens to the OP.

Of course it's very fine because it was ours. We work hard for it so we deserve to spend it, on the things that can make us happy and gambling can be one of it. What is only not right is if you stole the money and use it for your own good.

Limiting is a must and before we gamble, we always been warned to gamble responsibly because if not then there might be some bad things that will happen to us like we can lose too much money or become heavily addicted with it. This must be the biggest mistake the op have made or will made to his life because he shared it here and I can feel that next time he will be more careful again or he may not play gambling anymore.

bitbollo

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Quote from: Fortify on May 03, 2022, 02:57:01 PM

...
in Australia that is making money from mispriced odds on sports books, but they do this arbitrage at a huge scale - most likely to help bookmakers lay off their bets if they're allowed to do it long term. Besides that, you need a very keen eye to make any profit out of a sportsbook.
...

there are dedicated service that allow to make this kind of bets, but you need dozens of accounts, in several bookmakers and be able to place these bets in short time. each time the money earned are just a little percentage (1-2%), so you need to have an huge bankroll for a decent earning (... just count money for withdrawal).

if you are addicted to games you can also waste your funds searching "the chance of the victory" even playing with this strategy. I mean, it's hard also in this case earn safe money and not risk again.
I think that when there is the risk of real addiction or money wasted easily (like the OP story), the only solution is "stop gambling". if you have passed this line things could just get worst.

Fortify

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Quote from: mia_houston on May 03, 2022, 10:23:43 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

This is why gambling is something that we should be able to avoid, maybe some people are lucky in gambling and earn a lot of money, but their addiction to gambling is not impossible to make their return to being poor, I think no one will be rich for long from the results of gambling because sooner or later of course bad luck will come to them, what happened to you is no different from some of my friends who had to end up in prison for not being able to pay debts and there were even some of them who had to end up on the streets, indeed gambling is a pleasure but if it becomes an addiction of course it will be a disaster.

Luck always runs out eventually, that's why Vegas casinos are so big and beautiful. Unless you are playing a skill based game or doing something like card counting, it's nigh on impossible to make a living out of this. From what I recall there is a small and quiet operation in Australia that is making money from mispriced odds on sports books, but they do this arbitrage at a huge scale - most likely to help bookmakers lay off their bets if they're allowed to do it long term. Besides that, you need a very keen eye to make any profit out of a sportsbook. You can make money from other games like poker, as long as you are playing at a higher skill level than the people around you - but they'll always be someone better so it is a high intensity game.

Mahanton

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Quote from: madnessteat on May 03, 2022, 01:23:04 PM

Quote from: KTChampions on May 03, 2022, 01:12:13 PM

^

That's an interesting thought. It is quite possible that these mechanisms work together, as if only the mechanism described by you worked, a person would not strive for gambling so much, as he can get the loot while doing everyday work. A person gets pleasure from winning and this, in my opinion, is the main motivator to return to the casino again and again.

Once you do really have that kind of intent on where you are aiming to make profits then you would always be having the reason on which you do go back again and again on casinos
as long you do have the money to spent or in your pocket then you wont really be stopping for you to play as long you couldnt really satisfy your leisure needs or simply with your greed.
This is one of the most common problem for a person to attain or able to experience out if you are really that gets addicted to gambling where trying out to control yourself
in terms of spending is something really very very hard on solving it personally or on your own.

madnessteat

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Quote from: KTChampions on May 03, 2022, 01:12:13 PM

^

That's an interesting thought. It is quite possible that these mechanisms work together, as if only the mechanism described by you worked, a person would not strive for gambling so much, as he can get the loot while doing everyday work. A person gets pleasure from winning and this, in my opinion, is the main motivator to return to the casino again and again.

KTChampions

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Quote from: madnessteat on May 03, 2022, 09:05:14 AM

Quote from: fiulpro on May 03, 2022, 08:19:20 AM

Hi !
Let's understand that sometimes this is usual and sometimes it's unusual for you to have such probelms. If this is normal for you then I would honestly advice you to seek medical care. Most people fail to understand that addiction is a cause of brain abnormality and thus needs to be treated that way as well. Therefore for starters you should go to the GP and get a referral. If this is not the case and this is a one time thing you should *never try and do it again* try and put your savings somewhere else not in the same wallet from where it can be accessed that easily. Make separate wallets for gambling and savings which on any accord must not be touched. I hope you realize that you solely are in control of all of this and improve your situation. Best of luck!

It's not a brain anomaly at all. Rather, it is a conditioned reflex that a person acquires while gambling. If you win, you get a release of the happiness hormone. It does not matter at all how big the winnings are. Over time you get used to constantly encouraging your body with these hormones and when you deprive yourself of these hormone emissions you fall into a depressive state. That's why the gambler is so drawn to come back to the casino.

In fact, another mechanism works and it is sewn into the human brain even before birth. To put it simply, the brain mobilizes the body's resources if the "prey" is close (yes, this is a rudimentary legacy of the fact that a person is an animal). And it pushes the person to play further. If you notice casinos always create the feeling that victory is very close. This is the exploitation of this particular natural mechanism that is in people, by the way, it is natural that men (hunters) are more susceptible to such manipulation than women.

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Quote from: mia_houston on May 03, 2022, 10:23:43 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

This is why gambling is something that we should be able to avoid, maybe some people are lucky in gambling and earn a lot of money, but their addiction to gambling is not impossible to make their return to being poor, I think no one will be rich for long from the results of gambling because sooner or later of course bad luck will come to them, what happened to you is no different from some of my friends who had to end up in prison for not being able to pay debts and there were even some of them who had to end up on the streets, indeed gambling is a pleasure but if it becomes an addiction of course it will be a disaster.

Well said, a disaster if you failed to control yourself getting addicted, for some an entertainment but for people who have an aggressive approach to this kind of entertainment sooner or later they will suffer huge loses to the point that they will Yolo everything that they have in their savings and find it out that they've already burned it all.

You need to cope up with this and move forward, divert yourself to something that will free up your mind in thinking about gambling. The best way to limit yourself is to limit your finances and never to dwell on your losses.

mia_houston

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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

This is why gambling is something that we should be able to avoid, maybe some people are lucky in gambling and earn a lot of money, but their addiction to gambling is not impossible to make their return to being poor, I think no one will be rich for long from the results of gambling because sooner or later of course bad luck will come to them, what happened to you is no different from some of my friends who had to end up in prison for not being able to pay debts and there were even some of them who had to end up on the streets, indeed gambling is a pleasure but if it becomes an addiction of course it will be a disaster.

zidanw

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I know that nothing we could say here could take back the events, to prevent it, nor to change it back. But it is good to hear that OP has learned a lesson from this experience, despite the negativity of it all. And reading the responses here, I believe that forum users are also aware of such happenings and what must be abided in order to not be in this situation, which I hope that we may have the determination to always put into practice.

ChiBitCTy

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As others here have said, just make sure you’re always only gambling what you can afford to lose. “Throw away money” so to speak. These games are designed to sucker you in and try and make you play outside your means. Just make sure you come up with a sound plan and always stick to it!

Ahli38

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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

something like this happened to me too in the last year. but I learned a lot from this incident. and began to be able to control himself until now.
but it's hard to control curiosity when you lose and want the full money back as soon as possible and make a profit.
that's when our logic becomes weak and the chance of losing becomes greater when we play without a calm and healthy logic.

madnessteat

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Quote from: fiulpro on May 03, 2022, 08:19:20 AM

Hi !
Let's understand that sometimes this is usual and sometimes it's unusual for you to have such probelms. If this is normal for you then I would honestly advice you to seek medical care. Most people fail to understand that addiction is a cause of brain abnormality and thus needs to be treated that way as well. Therefore for starters you should go to the GP and get a referral. If this is not the case and this is a one time thing you should *never try and do it again* try and put your savings somewhere else not in the same wallet from where it can be accessed that easily. Make separate wallets for gambling and savings which on any accord must not be touched. I hope you realize that you solely are in control of all of this and improve your situation. Best of luck!

It's not a brain anomaly at all. Rather, it is a conditioned reflex that a person acquires while gambling. If you win, you get a release of the happiness hormone. It does not matter at all how big the winnings are. Over time you get used to constantly encouraging your body with these hormones and when you deprive yourself of these hormone emissions you fall into a depressive state. That's why the gambler is so drawn to come back to the casino.

Sayeds56

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Quote from: xSkylarx on May 03, 2022, 08:38:12 AM

This is what we call "greediness" because you really want to get back your losses. I think this is really common. I also double my bet when I notice that I am doing this, but the strategy that works for me is to walk away, like take a walk or drive my motorcycle just to have a break and also think clearly because it is really difficult in this situation. I also got empty handed in betting because of trying to win back my losses. I know it is difficult to control, but it works best when you take a break. Just walk away immediately and don't look back.

I have been in crypto space for more than 3 years and my learning to be successful is as follows:

1- never gamble with your money eventually you will be loser.

2- Never do future or margin trading unless you are professional trader.

3- Buy coins/tokens of top 20 projects of coinmarketcap and hold them for long term.

4- Invest in good DEFI projects of Etheeum,BNB , Luna and cosmos chains and earn passive income. There is also possibility of good airdrops if you use Metamask and keplr wallets.

Make your own research before investment or trading decision and never be too greedy. Book profit whenever your trade is in good profit.

maydna

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Quote from: Taskford on May 03, 2022, 06:34:30 AM

Most of the time we encounter this kind of losses when we are new and been hype up with something huge return what inserted on our minds to those who promote this to us. For sure those who already experience this painful defeat will learn their lesson especially on holding their finances on gambling since this is mostly the lesson will be learn by gamblers who lost after the end of the day.

Hopefully, people who have experienced defeat can learn from their previous mistakes so they don't repeat the same mistakes. If they are thinking of trying to get their losses back, it won't be easy because they will definitely need more money to bet and that won't necessarily win at gambling games either. So it's better always to be able to control yourself in playing gambling and never cross the limit that we can't afford because it will hurt if we get another loss.

LogitechMouse

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Quite unfortunate for the OP but this kind of stories are already normal.
Gamblers losing all of their money because of their wrong decisions and emotions.

On the other hand though, in order for a person to learn something you must make mistakes

. You must make mistakes if you want to learn and I hope that the OP learned from his mistakes. I had made some gambling mistakes as well like letting my emotions control over me. Making all-in bets which ended up losing my money but I learned from it and didn't do it anymore.

xSkylarx

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This is what we call "greediness" because you really want to get back your losses. I think this is really common. I also double my bet when I notice that I am doing this, but the strategy that works for me is to walk away, like take a walk or drive my motorcycle just to have a break and also think clearly because it is really difficult in this situation. I also got empty handed in betting because of trying to win back my losses. I know it is difficult to control, but it works best when you take a break. Just walk away immediately and don't look back.

Topic: Hard earned money - Busted in seconds - page 18. (Read 3709 times)