Healthy mindset to save earnings from gambling - page 10.

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Quote from: coinerer on July 10, 2023, 11:34:13 AM

Quote from: ralle14 on July 09, 2023, 08:06:11 PM

Quote from: noormcs5 on July 08, 2023, 02:43:53 AM

Usually, people who win in gambling but not able to cash out or save their winnings and I think this has something to do with a Healthy mindset.
If you do not have the intention to save the wealth, you will lose all your winnings by risking them again in another gambling bet.

Only a mentally strong person who has control over emotions and have money management skills would be the real winner here and will become rich eventually.

That same healthy mindset needs to be applied outside gambling as well because I remember watching a documentary about a lucky lottery winner, and it only took them at least a year to lose everything they've won from the lottery. In their case, they unnecessarily spent their winnings on luxury stuff and only started worrying about their finances once they've used all of it. Instead of hoping to become rich one day, we should strive to be financially stable.

A healthy mindset cannot be effective in winning the lottery because no one has any strategy to win the lottery or any strategy does not work here. But in any other sector of gambling, a healthy mindset can work very well. And a gambler with his healthy mindset can win casino with good strategy, and most times win from sports bet. So it is true and I agree that a healthy mindset can bring success to a gambler. and it can prevent you losing your momey by panic gambling

To be honest, I feel that the concept of having a healthy mindset applies more on trading than gambling. The term panic gambling is something I had never heard before, but I have heard about panic selling (while trading). While wagering one's money, the best case scenario while rolling dices or playing slots is that one can take the losses in a proper way and not to chase them.

If one is lucky while having a good mindset, one is supposed to realize that it was just luck, not the mindset itself.

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Quote from: ralle14 on July 09, 2023, 08:06:11 PM

Quote from: noormcs5 on July 08, 2023, 02:43:53 AM

Usually, people who win in gambling but not able to cash out or save their winnings and I think this has something to do with a Healthy mindset.
If you do not have the intention to save the wealth, you will lose all your winnings by risking them again in another gambling bet.

Only a mentally strong person who has control over emotions and have money management skills would be the real winner here and will become rich eventually.

That same healthy mindset needs to be applied outside gambling as well because I remember watching a documentary about a lucky lottery winner, and it only took them at least a year to lose everything they've won from the lottery. In their case, they unnecessarily spent their winnings on luxury stuff and only started worrying about their finances once they've used all of it. Instead of hoping to become rich one day, we should strive to be financially stable.

A healthy mindset cannot be effective in winning the lottery because no one has any strategy to win the lottery or any strategy does not work here. But in any other sector of gambling, a healthy mindset can work very well. And a gambler with his healthy mindset can win casino with good strategy, and most times win from sports bet. So it is true and I agree that a healthy mindset can bring success to a gambler. and it can prevent you losing your momey by panic gambling

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Quote from: Die_empty on July 09, 2023, 07:27:29 PM

Quote from: flipme on July 09, 2023, 06:03:43 PM

Gambling is a risky activity. Gambling again with money won in gambling leads to potential losses. After all, making money in gambling is based on luck. When luck gives us an opportunity, we should use it well. So when we win money in gambling, we must act rationally and protect the money. Otherwise, if we lose the money we earn in gambling, we will enter a vicious circle. If we cannot get rid of vicious circles, we should not hesitate to seek professional help. Gambling addiction is a common problem experienced by many people.

Most gamblers don't have any plan on how to use big wins. I wouldn't also blame them because winning big most times solely depends on luck. But the biggest mistake some of them make is to still gamble with almost all the money they won. This might not necessarily means that the gambler has a poor mindset but he has a greedy mindset. I know someone that won millions in my local currency and gambled off the money within a few hours because he thought he would still win a bigger sum.

Gamblers should have an investment mentality. Even when you might be unable to figure out immediately where you can invest a big win, the ability to control yourself not to gamble the big win is very important. It will also be ideal for gamblers to be knowledgeable on profitable investments so that wins could be maximized. But living a flamboyant lifestyle and increasing our stake because of a big win is what I see as a poverty mentality. Big wins should be invested in or used to solve a basic need. If I win big, my first need will be to build a house for my family because this is my basic need for now.

Your perspective is fair - unregulated big wins can lead to big losses, especially when greed outweighs rationality. However, by blaming greed, you ignore other possible causes. The 'Gambler's fallacy' is a psychological term for a gambler's irrational behavior after winning. They "ride the wave" and drown because they think a win means a winning streak. Investment makes sense and should be promoted. Why don't gamblers invest? Financial illiteracy? Finally, your statement about 'poor mentality' and significant successes sounds generic. Can a gambler win large and spend lavishly while making smart financial decisions? Big victories should be invested in or used for fundamental requirements seems to limit individual choice. Your idea to house your family after winning is admirable.

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Quote from: ralle14 on July 09, 2023, 08:06:11 PM

Quote from: noormcs5 on July 08, 2023, 02:43:53 AM

Usually, people who win in gambling but not able to cash out or save their winnings and I think this has something to do with a Healthy mindset.
If you do not have the intention to save the wealth, you will lose all your winnings by risking them again in another gambling bet.

Only a mentally strong person who has control over emotions and have money management skills would be the real winner here and will become rich eventually.

That same healthy mindset needs to be applied outside gambling as well because I remember watching a documentary about a lucky lottery winner, and it only took them at least a year to lose everything they've won from the lottery. In their case, they unnecessarily spent their winnings on luxury stuff and only started worrying about their finances once they've used all of it. Instead of hoping to become rich one day, we should strive to be financially stable.

Yes there are also a couple of websites describing examples of lottery winners who flushed their money down the toilet within a blink of an eye. There are all kinds of amounts from a million to tens of millions of dollars being wasted in no time. But it has been said here that it is a question of character as well, the general attitude towards money and whether someone has control over the situation or not. Or even better, not the uncontrollable desire to spend money on useless things in the first place. Tens of millions sounds like a lot, but when somebody really wants to spend it within a day, it is of course possible. Buy a yacht and get broke within minutes.

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Quote from: ralle14 on July 09, 2023, 08:06:11 PM

Quote from: noormcs5 on July 08, 2023, 02:43:53 AM

Usually, people who win in gambling but not able to cash out or save their winnings and I think this has something to do with a Healthy mindset.
If you do not have the intention to save the wealth, you will lose all your winnings by risking them again in another gambling bet.

Only a mentally strong person who has control over emotions and have money management skills would be the real winner here and will become rich eventually.

That same healthy mindset needs to be applied outside gambling as well because I remember watching a documentary about a lucky lottery winner, and it only took them at least a year to lose everything they've won from the lottery. In their case, they unnecessarily spent their winnings on luxury stuff and only started worrying about their finances once they've used all of it. Instead of hoping to become rich one day, we should strive to be financially stable.

That's because they feel they now have so much money they can spend on things they don't need. Instead of saving their money or buying assets that could be useful in the future, they spend it on things that aren't important so they don't think about their future.

They need to learn about financial management to know what is important and fun so they don't spend their money just to satisfy their desires. And again, this is a real example for us where we have to be able to prevent it so that when we win and win a lot of money, we can arrange the winning money for things we need in the future.

Preparing for the future is important to survive situations that may change drastically. Not only for us to survive but for our families as well. So with that big winning money, we can prepare everything from now on.

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Quote from: ralle14 on July 09, 2023, 08:06:11 PM

Quote from: noormcs5 on July 08, 2023, 02:43:53 AM

Usually, people who win in gambling but not able to cash out or save their winnings and I think this has something to do with a Healthy mindset.
If you do not have the intention to save the wealth, you will lose all your winnings by risking them again in another gambling bet.

Only a mentally strong person who has control over emotions and have money management skills would be the real winner here and will become rich eventually.

That same healthy mindset needs to be applied outside gambling as well because I remember watching a documentary about a lucky lottery winner, and it only took them at least a year to lose everything they've won from the lottery. In their case, they unnecessarily spent their winnings on luxury stuff and only started worrying about their finances once they've used all of it. Instead of hoping to become rich one day, we should strive to be financially stable.

It is only a few bettors who have won huge money that they ought to have used to be reasonable and build multiple investment and become financially stable that have taken that opportunity. Usually bettors believe that if they are able to win today then they will also win the next day or in the future but unfortunately they are not learning from people who have won in the past because it is not usually that possible. I don't know how true the usual saying that opportunity comes but once is but I have seen big winners who were suppose to turn their destiny around but today they are back in the street after lavishing very huge jackpot winnings.

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Quote from: noormcs5 on July 08, 2023, 02:43:53 AM

Usually, people who win in gambling but not able to cash out or save their winnings and I think this has something to do with a Healthy mindset.
If you do not have the intention to save the wealth, you will lose all your winnings by risking them again in another gambling bet.

Only a mentally strong person who has control over emotions and have money management skills would be the real winner here and will become rich eventually.

That same healthy mindset needs to be applied outside gambling as well because I remember watching a documentary about a lucky lottery winner, and it only took them at least a year to lose everything they've won from the lottery. In their case, they unnecessarily spent their winnings on luxury stuff and only started worrying about their finances once they've used all of it. Instead of hoping to become rich one day, we should strive to be financially stable.

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Quote from: BitcoinGirl.Club on July 09, 2023, 07:57:48 PM

Quote from: Lanatsa on July 09, 2023, 03:41:36 PM

Its a matter of common sense and being wary about on the actions you've been doing.If you do treat up gambling as a form of entertainment and wouldn't really be chasing up about on getting rich
then for sure you would not find yourself putting on big trouble towards gambling because you have done it the right way and treatment on it.

For the record, gambling is a pure entertainment for me. The day I am bored, I have no work, my girl is not around, no football on Tele, wife is not around, in short not a productive day; I deposit some money in a gambling site. Then I place random bets, open the live update website [whichever is available] and enjoy the moments. Stressful when bet is losing, but enjoyable when bet is winning. If I am able to make any profit then after few hours I am withdrawing all and when the day is bad then losing all deposits before I sign out from the system.

I used to be a gambling addict but that was over a decade ago.

It should be but people do really take the other way around on which its not really that something suggestable for you to take gambling the other way around other than leisure and entertainment. On the time that you would be playing, then you wouldnt really be minding about investment or savings or something that in correlated because on the time that you do gamble, then those funds are considered to be lost completely.
If you are lucky enough then you might be able to make it grow or make winning which it would really be that great but we know the odds and chances are slim on being successful or being a winner on gambling space.

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Quote from: Lanatsa on July 09, 2023, 03:41:36 PM

Its a matter of common sense and being wary about on the actions you've been doing.If you do treat up gambling as a form of entertainment and wouldn't really be chasing up about on getting rich
then for sure you would not find yourself putting on big trouble towards gambling because you have done it the right way and treatment on it.

For the record, gambling is a pure entertainment for me. The day I am bored, I have no work, my girl is not around, no football on Tele, wife is not around, in short not a productive day; I deposit some money in a gambling site. Then I place random bets, open the live update website [whichever is available] and enjoy the moments. Stressful when bet is losing, but enjoyable when bet is winning. If I am able to make any profit then after few hours I am withdrawing all and when the day is bad then losing all deposits before I sign out from the system.

I used to be a gambling addict but that was over a decade ago.

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Quote from: flipme on July 09, 2023, 06:03:43 PM

Gambling is a risky activity. Gambling again with money won in gambling leads to potential losses. After all, making money in gambling is based on luck. When luck gives us an opportunity, we should use it well. So when we win money in gambling, we must act rationally and protect the money. Otherwise, if we lose the money we earn in gambling, we will enter a vicious circle. If we cannot get rid of vicious circles, we should not hesitate to seek professional help. Gambling addiction is a common problem experienced by many people.

Most gamblers don't have any plan on how to use big wins. I wouldn't also blame them because winning big most times solely depends on luck. But the biggest mistake some of them make is to still gamble with almost all the money they won. This might not necessarily means that the gambler has a poor mindset but he has a greedy mindset. I know someone that won millions in my local currency and gambled off the money within a few hours because he thought he would still win a bigger sum.

Gamblers should have an investment mentality. Even when you might be unable to figure out immediately where you can invest a big win, the ability to control yourself not to gamble the big win is very important. It will also be ideal for gamblers to be knowledgeable on profitable investments so that wins could be maximized. But living a flamboyant lifestyle and increasing our stake because of a big win is what I see as a poverty mentality. Big wins should be invested in or used to solve a basic need. If I win big, my first need will be to build a house for my family because this is my basic need for now.

SOKO-DEKE

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I don't see gambling as a way of getting rich because it is a chance of luck. So many people who do win huge amounts of money from bets did not always have plans for it because it came as a surprise, and any money we don't have plans for we easily just spend it anyhow, thinking we will get another one. I believe that any person that is gambling is doing it with the aim of making money from it, and with that, some will hardly quit if it was able to win a big amount of money, because it thinking will always be that you will continue to be winning, which is not possible,so people continue losing because of their mentality of winning another day.if someone have mindset of becoming rich, I don't think it can happen through gambling because gambling is all about lucky.

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Quote from: noormcs5 on July 08, 2023, 02:43:53 AM

-snip-

I don't understand the context of rich mindset and been a rich person. I can chose to be a rich person and chose to spend less and people will see it as been stingy type of person or don't want to spend and see me as broke buy if it's the life I have chosen, nobody can define it for me because I own it and set the standard for myself.

Let's put it in gambling context, the only thing that push people do things out of there limit is greed, it let them have unsatisfied mindset and gamble out of their limits, this is why they always go back to nothing. Gambling should be concise and fun, I can't imagine someone spending an entire 24 hours gambling and expect to make wealth from it, such people end up been addicted and play pity card to attract attention but believe me they always go back even they are save from such bad habits of fun.

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Quote from: piebeyb on July 09, 2023, 02:33:13 AM

I always believe that luck in gambling will not come again and again, when I am lucky to get a big win I will not let the winning money be in my account, I will immediately withdraw it then invest in stocks or crypto expecting long term profits outside the gambling platform, we are not will never control ourselves in managing finances if we often splurge.

This is one of the first mistakes, actually. Investing directly on things people do not completely understand. I would first seek the help of a financial advisor if I were you, then take the time to study some of the investments that are readily available to me before I make the decision. I do understand that a lot of us here will readily invest in cryptocurrency at any given time if we have the money. But with huge amounts? It's better to take our time before we click the button and spend something on potential bags that we will hold for a long time.

Quote from: borovichok on July 09, 2023, 11:12:04 AM

I'm ambitious being and making more money keeps ringing in my head, I'm not bluffing or trying to say this to make anyone feel better, most of us don't know how to handle and spend money, when it's available, that's the moment we start spending unnecessarily and even go further in buying stuffs that are not important, only to go broke and find out that we need to work, that's the moment we fall back to gambling, and trust me when I say, it's a wrong path. We've been brainwashed into believing that the money system will collapse if we don't look for several sources of it or rely on one source that is completely out of line. Our funds will continue to deplete because we just depend on a single source of income.

Exactly. Most people, when they have access to money, they'd buy things that 'they think' they need, when in fact it's the opposite. The consumerism mindset has been etched deep into our minds that we think everything that we see, we need. Good on you for recognizing that there is a possibility that our funds will eventually go to zero if we spend incessantly and carelessly. Not a lot of people, especially those who are new to having lots of money, know this and recognize it early on.

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Quote from: flipme on July 09, 2023, 06:03:43 PM

Gambling is a risky activity. Gambling again with money won in gambling leads to potential losses. After all, making money in gambling is based on luck. When luck gives us an opportunity, we should use it well. So when we win money in gambling, we must act rationally and protect the money. Otherwise, if we lose the money we earn in gambling, we will enter a vicious circle. If we cannot get rid of vicious circles, we should not hesitate to seek professional help. Gambling addiction is a common problem experienced by many people.

Professional help? will people care when you are addicted to gambling and will anyone find out. I see people who are gambling addicts don't open any conversation about gambling, some of them are introverts.
Winning the jackpot at gambling is luck that will not come twice. if forced to continue gambling then they will lose it all. gambling will take all the winning money and only regret will be left.

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Gambling is a risky activity. Gambling again with money won in gambling leads to potential losses. After all, making money in gambling is based on luck. When luck gives us an opportunity, we should use it well. So when we win money in gambling, we must act rationally and protect the money. Otherwise, if we lose the money we earn in gambling, we will enter a vicious circle. If we cannot get rid of vicious circles, we should not hesitate to seek professional help. Gambling addiction is a common problem experienced by many people.

Sandra_hakeem

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Goodnight, ohh Leo!!! 🦅

What every gambler needs to understand is that winnings don't come just immediately; now the scary part of the story is that you do not have a choice to stay and wait, without Putting up the work... Which invariably means you gotta keep trading your losses on tomorrow's hope - which fate again' could decide to introduce you to the opposite of it....that's too much risk to take!!
Well, to some point, your strategies would actually do alot of good to 'em gamblers that won't wanna hold themselves away from the game.

Sandra 🧑‍🦰

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A broke mindset leads to poverty sooner or later, that statement has been proven by experienced economists and this rule can be applied in various industries including gambling. The rich person with the right mindset may break the system mechanics and get out of the "rat race" if you know what I mean. Not all lottery winners stay rich till the end of their life for mentioned reasons, IMHO. They usually fail to manage the wealth they get and many relatives keep using them for their own advantages, unfortunately.

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Quote from: Cantsay on July 08, 2023, 02:59:27 AM

Quote from: noormcs5 on July 08, 2023, 02:43:53 AM

Only a mentally strong person who has control over emotions and have money management skills would be the real winner here and will become rich eventually.

Another factor that affect litter lottery winners is the fact that they don't have any plans, and it's very easy to spend money you didn't work hard to get inappropriately. Take for example a bettor wins a lottery ticket if he doesn't have any knowledge of investment or how to make good use of the money to improve his business instead he wants to keep buying ticket hoping to win more he'll only end up with nothing.

You can only be proactive in making investment plans towards a winning or money you're somewhat sure of. Many lottery players do get involved without a mindset of winning at all looking at the millions of persons playing the lottery, they just want to do what every other person around them is doing not believing that they can be lucky to win it. So when they become the luck lottery winner with no prior plans buying of more other tickets with the hopes of getting another winning would likely look like a good business to them. It's rare to see a lottery winner make good investment use of his lottery money this is because they never expected to see themself making a win. When you have a winning mentality it's possible to prepare ahead of it someday.

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Quote from: bayu7adi on July 09, 2023, 02:12:29 PM

Neglecting discipline can indeed backfire on someone. I found myself in such a position when I ventured into a new gambling platform for the first time. The funds I used came from passive income, so it didn't disrupt my primary finances.

Initially, I experienced a few wins, resulting in a doubling of my assets. I had a strong intention to set aside a portion of the profits and continue playing with the remaining amount.

However, a string of losses fueled my curiosity to prolong the game in pursuit of the illusory triumph I desired. Deep down, I anticipated this outcome, yet I made the same mistake once again. I chose to gamble away all the initial winnings until my balance was completely depleted.

It appears that my emotions, discipline, and curiosity were not in sync, leading to this predicament.

You learned a hard lesson through gambling. You were attracted back into the game despite having a well-planned strategy to set aside a portion of the profits and play with the rest. The prospect of victory was too tempting. After the first success, losses were inevitable. Every gambler thinks they can win, even if losing is statistically inevitable. The 'gambler's fallacy' strengthens this idea with each loss. Your experience may highlight the need of emotional control and discipline. Mastering these qualities is the only way to keep a clear head and make sensible decisions when faced with rapid, easy wins.

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Quote from: AmoreJaz on July 09, 2023, 04:36:40 PM

very rare that a gambler can be a winner at the end because most will continue playing even after winnings.
....

as I have often written into this section, "playing" "betting" DOES NOT get anyone rich!
not only because a gambler continue to play but because these bets that yield life-changing sums are so rare that it practically makes no sense to consider them a viable option for the future.
money management, and in general a professional approach to this field can provide a decent "extra"... but not expect "lifechange wins" this will be something impossible...

Topic: Healthy mindset to save earnings from gambling - page 10. (Read 1402 times)