Topic: Huge win that turn into loss scenario - page 8. (Read 1098 times)

I will add to what you said that greed is also part of what will make a gambler not withdraw his wins because he wants to win more and before he knows it he will lose all his bankroll. Some gamblers don't have self control over their gambling activities and such gamblers might find it difficult to manage the risk of losing more to gamble by not setting a gambling budget and not withdrawing their funds at the right time from the casino.

The fastest way to lose big in gambling is by buying bonuses, as that method can increase the amount you win in a single win. That's also how it leads to losing big when you lose a one-time wager with that bonus. I always just avoid buying bonuses in order to retain my minimum single wager amount. 
 
It's good to see that after how many times you might have fallen victim to losing all you win back to the gambling industry, you were able to make a withdrawal this time, showing that you have learned how to overcome that thing that keeps triggering you to continue playing after the winning.

after an huge win, people try to bet "as much as they can" = they are feeling lucky... but if they start to loss, they will try to recover the amount loss and it's not uncommon to waste huge amount of money.

there are many solutions to avoid these "black outs". First of all, have a budget and a clear money management of your fund.
Try always to move you funds (likewise in case of win) to a cold wallet. People that use crypto have this good habit!
Don't gamble just for trying your luck, maybe just use only a trivial amount and thats all.

When we have made a big win our desire continues to want to play, maybe the initial intention was only with the smallest bet possible because feeling unsatisfied finally increased the bet without realizing it spent all the money won, so if you think it's better to withdraw some of it than to keep all the winnings in the account, it feels like you want to keep playing.

Same scenario but this is in sports betting not slot games.
With a capital of $50 getting a 3x win, of course it's good, isn't it if I withdraw $100 and leave another $50 to bet, because of confidence in the match the odds are also quite high, finally placing a bet again with two matches and one more match to follow, what happened the bet lost because the EURO match was difficult to predict, finally losing all the money won before.

All gamblers have this kind of feeling that's for sure. The feeling of you having that adrenaline rush because you feel that you have a lucky day since you're winning consistently... until it came to a point where all of that luck is gone already, and instead of stopping, you choose to gamble it all hoping that the luck that you once have will return again. Unfortunately, it didn't happen and you lost all of your money. That kind of scenario happened to me. Consistent winning - adrenaline rush and choose to continue - lost all of my money.

The problem with me is that, whenever I win, I only withdraw my winnings and I keep my initial capital, and when my capital lost, I will deposit my winnings again until I lost it as well. With what OP said, I guess I'll convert it immediately into fiat, or invest it into other coins as soon as I withdraw it, and I'll withdraw ALL of it now instead of keeping my initial capital on the exchange.

I prefer to attribute this to the adrenaline rush we already have but we want more, it's like striking it when the iron is hot but unfortunately, it will not work on gambling based on the odds.

I experienced this many times as if I'm hypnotized by the numbers, and after losing everything I have nothing left but to ask what happened to me.  

Gamblers who fail to learn will have to endure losing a lot of money and possibly their mind.

An experience we have repeatedly as gamblers, sometimes when we have doubled our initial bankroll many times over. Often times we get carried away with continuing the game session, especially slot games which are very simple without having to involve skills. Even if someone has good self-control, it is not impossible for someone to lose control and get carried away when playing. especially, when the game delivers good shots.  Unfortunately, in the long run our winnings gradually decrease and eventually run out. that's why self-control is difficult to do. because our psychological condition must be in good condition. if not, someone is even willing to spend time playing slots or other gambling.

Things with the words greed, in the world of gambling it is difficult to define it. the reason is, we bet using money. So, in return you can win a decent or big fortune. The problem is, sometimes we think the game we are playing is good. that's why, perhaps most of us continue gaming sessions. Moreover, if in the shortest possible time we get multiplication with very large rewards. It seems like we haven't really enjoyed the sensation of the game, which sometimes many gamblers continue. Gambling is complex for me personally, where we interpret gambling itself. We have actually discussed it many times, that one must make rules with limits for each game and know the limits of money that can be lost. It's just that this idea often doesn't work consistently in every betting session we do.

Yes, everyone can relate and it's called greed, it's because you think that you are very lucky and that you feel invincible. But just one simply mistakes, that one game that you will lose will into a disaster and you somewhat wanted to recoup that and win back but then your luck chances and then you are suckered to play more and more until you losses your win and your capital.

So that best thing is to really snap out of it, withdraw it. Regardless if you exchange it to fiat or just sit it in your wallet, the best thing to do is to withdraw your winning. And good that you were able to overcome that weakness because for some, it's really that hard.

This is the angle that I am coming from my own, what we need to do is to avoid being addicts. Gambling addict will win and still leave it on the platform and later run on losses. Even if he eventually withdraws the money to fiat, he will in one way or the other still deposit the money back into the gambling  platform and lose all and even deposit more and more and lose. The best thing to do is learn to be disciplined and have a budget, beyond which you are not willing to gamble again. It is this set budget and your ability to control it that will set you free.
Then will you develop the habit of not gambling again even if the money is in the platform because you have hit your max budget.

That's actually good thing to convert it to fiat but you should take that decision into a strict part of yours, but we can't really finally say that gambling should be avoided. The reality is really harsh but we should always bare in our minds that we're exploited with so many ways and that's making it worst to people that couldn't control their habits. So we must be responsible enough to control ourselves in terms of betting gambling at all times even if we thought it won't affect our personal lives. It's hard to admit that we've become slave of it, realization is very important in order to manage gambling responsibility.

I  think anyone who has spend a minimum of time within the world of casinos and crypto gambling can relate to it, actually, specially those who are newbies within gambling with cryptocurrency and are yet to learn how to control their impulses and chase losses or are not sure on how to hold greed back.
The situation you have described has happened to me, once or twice and it was while I was playing the same game: dices. I recall clearly how I was having a good luck streak and actually managed to accumulate a decent win, around 10-15$ for that session alone. Since I was new at dices, I did not think about the consequences on continuing gambling further without a target before withdrawing and stared to slowly lose money to the casino, in the end I ended up having just a little bit over 2$ of profit (minus the 1$ withdrawal fee), so that was a lesson which I intend not to forget, neither on Bitcoin casinos nor Brick-and-mortar casinos.

Gamble responsibly and control yourself in the game. If you can control yourself, at least you can minimize losses that are much bigger than before. Yes, to play again, I don't think it's too much of a problem, but you have to remember that the capital must be much smaller than before. Try a few rounds, at least you will lose and you should end the gambling game.

Many people experience things like this and I am also one of those people who miss a win that turns into a defeat. However, there are many lessons that can be learned from there, and now we can be better at not being greedy when we win big and immediately withdrawing the winnings. Sometimes we think that when we have doubled it we can fold it even bigger, that is the urge that makes us not stop playing to immediately withdraw our winnings.

Experiences like this are valuable lessons for us to be able to further suppress our ambitions and our wild thoughts about winning. We must be able to get rid of feelings like that, not only when we win, but also when we lose. Because sometimes we can also think that when we lose, if we play again, we will be able to turn that loss back into a win. This is what is called chasing losses and gambling with the aim of winning, once again this is wrong and should be avoided.

As one who likes gambling or already knows how to gamble farely, it won't be as easy as we think for the person to stop. No matter the amount of money a gambler wins if it's not yet time for the person to quite gamble the gambler will still continue gambling. However, huge winning makes it more easier for a gambler to keep in gambling, one can not stop immediately after winning huge money but one can be forced to quite gamble when he is losing because it might be that the amount he or she has been losing is bigger than what he expected.

I think it doesn't happen only to you, everyone has mistakes like this in his gambling career, I am also the same, always get greed when starting with using small capital when playing slots, but can grow up to a hundred times, and that makes me feel confident to increase even more, ambisa thrashing hoping to change the situation very quickly but instead make everything messy, and lose everything that has been obtained.

Yes, it's better to withdraw the winnings first before continuing the game so that we remain in a state of profit even if the remaining balance to be played gets a loss in session two after making a withdrawal, it's a pretty effective way to realize that we need to take advantage and not just focus on the excitement of winning alone in gambling.

Maybe for the next day's gambling capital so that we have a bigger capital, or use it as extra money to have fun in the real world with family.

Yeah, I'm sure every gambler can relate, I think it's more difficult for a gambler to stop gambling when they are winning than for them to stop when they are losing because when you are losing, you keep losing hope and you may stop at one point and that's better, but if you are winning, your confidence starts touching the sky and you feel like you can win way more than how much you have won so far, so you keep going and during that process, you don't stop when you start losing because you are confident that you will win the money back.

Even though converting the money to fiat isn't necessary unless you need funds, one should immediately withdraw their profits along with the deposited funds as soon as they see they are losing now because if you don't stop there, you will keep losing until you lose all the money, including your initial winnings.

Nothing's new and is evident with greedy players. What's unfortunate is the idea that this scenario becomes a normal thing to see in gambling industry. We all know our chances of winning and that should be an enoigh warning to secure our profit whenever we have chances to do so. However, that'e probably just how we would be reacting on things if we allow ourselves to be taken over by our emotions. Many of us have been in such situation and we should all be learning from this. Keep in mind that no matter how much we desire of winning big, nothing's guaranteed. Pushing more is like returning the money after years of waiting for your luck to kick in. Taking the money and betting with all might the next day is the same thing. The only way to secure profit is to maintain a low betting habit despite of a big win.

I thought you were trying to tell your story in a way that you are having a hard time with that. I think it’s not always going to be successful to withdraw immediately if you continue to gamble. It’s like one time you got it and have withdrawn it, but if you continue to gamble It is just going to continue to be on the red Unless you are really lucky.

Most of the time if you check out the profile statistics that you have, you should know that if you are in the profit or not in overall results so I think this would be valid if you are in the green and not the red.

It is only the money that you withdraw from your casino account that is yours and whatever amount that is in your gambling account is not yours yet until withdrawal. What I do when I have win is to withdraw immediately without wasting time. It is only my gamble budget that I leave in my account because the casino can have that since it is an amount thy I can afford to lose.

If you leave money in your Gambling account you will be tempted to gamble and if you don't have self control you might blow it up at a sit.

It's the trick you have to overcome as a gambler. If you've
never had this experience where after every big win the tendency of playing more kicks in too bad it's probably because you've not been long in gambling.

It happens subconsciously and this is the point where you will have to differentiate between an addicted gambler and another that's still strong enough to manage his emotions. Setting strict rules you're going to follow in different circumstances including what amount you're going to gamble with after every win will help you come out of that situation. It could be as simple as saying that you aren't gambling above 50% of the amount in your gambling account every day and even after you've won and the amount in your account has increased, you will have to be disciplined enough never to fall into the trap of continuous gambling at that spot so you won't gamble out all you've won on that day.