Should I try to win back my loss? - page 4.

Soots

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Quote from: Scor1937 on December 10, 2017, 08:56:13 AM

The more losses you will have, the more you will be attracted by gambling. I would suggest you to stay far away from gambling as the number of profits is much lower than the number of losses faced. You really have a good amount of funds with you and you can earn a good amount of interest from them if you use them properly.

If you have enough capital to play just to try win back your loss well go for it. Each of us want to earn more money and in time of lose we want to win back our lose. Well, on my opinion about that mate, if I have money to win back my lose , why not? But obviously if it seems your extra money can't afford anymore to win all your lose so much better to stop it since on that time its not your luck. We need to relax and realize everything that its not working every time you play so much better go home and try relax maybe next time you will back it's your luck and win more money as much as what you want.

imstillthebest

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Quote from: South Park on December 09, 2017, 05:37:14 PM

Many people see that and think that it is impossible to lose that many times in a row, but it happens all the time, most people do not understand provabilities losing 16 times in row is as likely as wining once and then losing once and then repeating that pattern 8 times, in a game like dice luck does not care that you lost 16 times in a row, that does not make your chances of winning the next time any higher.

its possible and it did actaully happen to me everytime i played dice game in prime dice i always get loose for about 5 to 6 time in a row and i always ended up getting busted. that sucks so much because i dont even get the chance to reach the minimum thereshold payout. by the way im using a martingale method everytime i play these kind of gambling games though it worked some times when i play hi lo on freebitco.in i could manage to double up my balance instantly by using this clever trick.

kimochidesh

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Quote from: iluvbitcoins on October 18, 2017, 07:18:03 AM

I have around 500 000 bets placed on FJ
It was a matter of time when this would happen ( placed a lot of bets on not Martingale, so it already happened a lot of times, just not with Martingale)

I got 16 losses in a row
Starting with bet 0.000001BTC
And last bet was 0.03BTC
Counting a 0.06BTC loss total

Now, my question is, should I try to win it back?

I have a total bank of around 1.6BTC on my disposal

Odds of me losing those 16 bets in a row were 0.00179%
Somewhere around 1 to 60 000

Now, if I place a 0.06BTC there's a 50.5% chance I'll lose
If I lose, I place a 0.12BTC bet, 0.505*0.505= 25.5% chance I'll lose
If I lose, I place a 0.24BTC bet, 0,255025*0,505= 12.88% chance
If I lose, I place a 0.48BTC bet, 0,128787625*0,505= 6.5% chance I'll lose

If I lose, I have a total loss of 0.48+0.24+0.12+0.06 (+0.03) = 0.9BTC (+0.03)

Is it worth it?
Should I cut my losses o.o

Odds of me losing 20 bets in a row should be 1 : 860 000
Which, with me having 500k bets, doesn't sound very good

Sad to hear about your loss. I believe recovering Losses is like a trap in gambling. Most of the time it is seen that people often lose more in order to recover the loss. Even if they recover the loss then they don't get up for the day and play more to earn profit but ultimately lost even more. and then circle continues until you got addicted and lose everything.

But still, if you have handful gambling experience and probability figure strongly supports you and if you got the capability to bear more loss then you may try your luck once. Just play to recover loss not to earn the profit.

bewbielicious

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No , don't you ever try to do it, i was stupid and do the same thing you want to do now, things are becoming worst and worst.

CaterpillarRave

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Chasing the big loss isn't a good plan, i met some people who are stop their loss and never reach to the big loss . They're success gamblers that i think we should learn from them.

Scor1937

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The more losses you will have, the more you will be attracted by gambling. I would suggest you to stay far away from gambling as the number of profits is much lower than the number of losses faced. You really have a good amount of funds with you and you can earn a good amount of interest from them if you use them properly.

AicecreaME

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Quote from: Asmonist on December 09, 2017, 05:49:12 PM

Yes. Its individuals prerogative. As long as you know that you have enough funds to bet in the game. Winning back your losses is quite a high risk situation. Well, we didn't know if you will win it this time. However, I think its best to have a limit for it. Otherwise, your losses will increase unless you win it.

You might think again before you get back on gambling just to win back your losses, because you might get the opposite of what you are thinking, but if you are prepared on what is going to happen next, then do it, it is your money and you are the one who is going to decide on where you are going to spend it anyways. Our only concerns is that gambling is too very risky to be play by anyone, gambling is no joke since our money is at risk.

BUK2016

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Op, some times when you recover your losses you find yourself loosing more of your money. Just like what happen to me some time ago when I was trading forex, I usually place about ten trade a day looses almost almost 4 position and make profit from the remaining 6 though the value of the amount lost use to be far higher than that of the once that come out positive because I was anxious to cover up my losses.

crzy

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Quote from: Asmonist on December 09, 2017, 05:49:12 PM

Yes. Its individuals prerogative. As long as you know that you have enough funds to bet in the game. Winning back your losses is quite a high risk situation. Well, we didn't know if you will win it this time. However, I think its best to have a limit for it. Otherwise, your losses will increase unless you win it.

Setting a limit on yourself is a good idea, don't take the risk to get back your loss because you can really not tell if you succeed this time, better to go back another day or stop gambling. Gambling is very risky and taking back your loss might result for a big loss in your part because there is no assurance that you will get it back.

ethereumhunter

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Quote from: Gladiator25 on December 09, 2017, 09:30:47 PM

In my opinion, yes you should. But there's a limit. Example you put 0.005BTC as a starting money. And you earn a profit of another 0.005BTC. If you lose your profit maybe you should stop a while. But if you lose your both profit and starting money you should make a decision to stop. Because if you are always trying to win your loss and you are at the point of your starting money is a loss then you should stop. You will be bankrupt and will have a debt. And that is a bad habit of addiction. It's not worth it.

if he still has money and willing to lose more money, then he can try to win back his loss although I don't recommend this. because if he tries this, he has more chance to get lost in any second and it is better to let the money gone while he can still enjoy the games without thinking to get his money back.

sana54210

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Quote from: Zero_Cloo on November 30, 2017, 05:54:41 AM

If you're eventually going to gamble that money anyway, you might as well.

Your theoretical loss is house edge * volume, regardless of how that volume goes in. One BTC0.5 bet is no different than 500 BTC0.001 bets, from a mathematical perspective. Maybe there's a difference in how much fun you get out of them, but most people enjoy big bets more than little ones anyway.

Man! Enjoying big bets really take some guts and those who do that really should just go give the funds to charity anyway Grin

I gamble for fun, but the truth is no one likes losing a whole lot of cash. I do not gamble to want to try my luck but if my luck is available for me when gambling, well, it is welcome.

Yes, some people can afford to lose as much as 10 BTC, probably they have up to that anyway, but I feel the more higher you bet sometimes, the higher your chances of even losing more, most especially all these so called proverbial fair games.

Gladiator25

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In my opinion, yes you should. But there's a limit. Example you put 0.005BTC as a starting money. And you earn a profit of another 0.005BTC. If you lose your profit maybe you should stop a while. But if you lose your both profit and starting money you should make a decision to stop. Because if you are always trying to win your loss and you are at the point of your starting money is a loss then you should stop. You will be bankrupt and will have a debt. And that is a bad habit of addiction. It's not worth it.

Siopao

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Only two things could happen if you try to cut your losses. Win and get back the btc that you lose or worse lose even more. And that's very frustrating. That's how gambling works, to keep their players. They will let win for some time and lose a lot of time that makes you wanting to even play more. If i were you, I will just pause andtry not to bet my btc. And maybe by next time you gamble, you can set a limit in thay way you have a control for yourself. But it's still up to you, wishing luck be oj your side.

Asmonist

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Yes. Its individuals prerogative. As long as you know that you have enough funds to bet in the game. Winning back your losses is quite a high risk situation. Well, we didn't know if you will win it this time. However, I think its best to have a limit for it. Otherwise, your losses will increase unless you win it.

South Park

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Quote from: Dhaaaw on December 08, 2017, 07:49:41 PM

Now seeing that you lost 16 times in a row which is nearly 0.00001525878% likely to happen i'm getting quite worried that the website that you might be using is rigged so asking if you should play again to recover is kind of reckless all i can advice you to do is quit and find somewhere else to gamble cause the odds are clearly not on your side !

Many people see that and think that it is impossible to lose that many times in a row, but it happens all the time, most people do not understand provabilities losing 16 times in row is as likely as wining once and then losing once and then repeating that pattern 8 times, in a game like dice luck does not care that you lost 16 times in a row, that does not make your chances of winning the next time any higher.

lienfaye

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Quote from: mirakal on December 08, 2017, 11:10:56 PM

Quote from: crzy on December 08, 2017, 08:28:56 PM

Quote from: South Park on December 08, 2017, 06:13:43 PM

Quote from: bribed on December 07, 2017, 05:39:43 PM

Quote from: ausbit on December 07, 2017, 02:40:36 AM

Emotions do play a significant role in your gambling and if you are gambling for recovery, you are going to lose some more money.

This! I definitely would just cut losses and let it go. One needs a fresh attitute and not chase after losses. OP wants to recover 0.03 BTC and therefore wants to risk 0.9 BTC if things go south? This sounds crazy to me, but Im not a regular gambler. Its just my common sense that tells me that this is wrong.

True risking 0.9BTC is simply too much in my country that is more than the average yearly pay, can you imagine that? At the current prices a full family could live a year with that amount of money, when you begin to think in bitcoin in those terms is when you stop gambling such huge amounts of money.

Very risky to sacrifice big amount just to get back that money, you can still earn it joining signature campaign then why do you need to gamble with that huge amount of money. Fine you can really get that back when you gamble but how sure you are ? better to trade it with strategy, for sure you can earn more.

lol, why do you have to rely on signature campaign, we know that the amount you will earn is not big enough to satisfy a person, in gambling we have a chance win a big amount of money that's why some people are really aggressive with the amount they will risk. Winning back our loses is normal because we want to be profitable in the long run, but the timing is necessary because you will lose focus if you go with your emotion.

Yes its normal to be tempted to win back our losses but gambling is a risky way to earn money. Chasing your losses is not a wise thing to do and it can lead to addiction. You can count the times you win but you cant count your losses.

Its true that if you win the jackpot, you might become rich instantly but it all depends on how lucky you are.

mirakal

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Quote from: crzy on December 08, 2017, 08:28:56 PM

Quote from: South Park on December 08, 2017, 06:13:43 PM

Quote from: bribed on December 07, 2017, 05:39:43 PM

Quote from: ausbit on December 07, 2017, 02:40:36 AM

Emotions do play a significant role in your gambling and if you are gambling for recovery, you are going to lose some more money.

This! I definitely would just cut losses and let it go. One needs a fresh attitute and not chase after losses. OP wants to recover 0.03 BTC and therefore wants to risk 0.9 BTC if things go south? This sounds crazy to me, but Im not a regular gambler. Its just my common sense that tells me that this is wrong.

True risking 0.9BTC is simply too much in my country that is more than the average yearly pay, can you imagine that? At the current prices a full family could live a year with that amount of money, when you begin to think in bitcoin in those terms is when you stop gambling such huge amounts of money.

Very risky to sacrifice big amount just to get back that money, you can still earn it joining signature campaign then why do you need to gamble with that huge amount of money. Fine you can really get that back when you gamble but how sure you are ? better to trade it with strategy, for sure you can earn more.

lol, why do you have to rely on signature campaign, we know that the amount you will earn is not big enough to satisfy a person, in gambling we have a chance win a big amount of money that's why some people are really aggressive with the amount they will risk. Winning back our loses is normal because we want to be profitable in the long run, but the timing is necessary because you will lose focus if you go with your emotion.

crzy

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Quote from: South Park on December 08, 2017, 06:13:43 PM

Quote from: bribed on December 07, 2017, 05:39:43 PM

Quote from: ausbit on December 07, 2017, 02:40:36 AM

Emotions do play a significant role in your gambling and if you are gambling for recovery, you are going to lose some more money.

This! I definitely would just cut losses and let it go. One needs a fresh attitute and not chase after losses. OP wants to recover 0.03 BTC and therefore wants to risk 0.9 BTC if things go south? This sounds crazy to me, but Im not a regular gambler. Its just my common sense that tells me that this is wrong.

True risking 0.9BTC is simply too much in my country that is more than the average yearly pay, can you imagine that? At the current prices a full family could live a year with that amount of money, when you begin to think in bitcoin in those terms is when you stop gambling such huge amounts of money.

Very risky to sacrifice big amount just to get back that money, you can still earn it joining signature campaign then why do you need to gamble with that huge amount of money. Fine you can really get that back when you gamble but how sure you are ? better to trade it with strategy, for sure you can earn more.

Dhaaaw

full member

Activity: 140

Merit: 100

Now seeing that you lost 16 times in a row which is nearly 0.00001525878% likely to happen i'm getting quite worried that the website that you might be using is rigged so asking if you should play again to recover is kind of reckless all i can advice you to do is quit and find somewhere else to gamble cause the odds are clearly not on your side !

South Park

hero member

Activity: 2884

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I am terrible at Fantasy Football!!!

Quote from: bribed on December 07, 2017, 05:39:43 PM

Quote from: ausbit on December 07, 2017, 02:40:36 AM

Emotions do play a significant role in your gambling and if you are gambling for recovery, you are going to lose some more money.

This! I definitely would just cut losses and let it go. One needs a fresh attitute and not chase after losses. OP wants to recover 0.03 BTC and therefore wants to risk 0.9 BTC if things go south? This sounds crazy to me, but Im not a regular gambler. Its just my common sense that tells me that this is wrong.

True risking 0.9BTC is simply too much in my country that is more than the average yearly pay, can you imagine that? At the current prices a full family could live a year with that amount of money, when you begin to think in bitcoin in those terms is when you stop gambling such huge amounts of money.

Topic: Should I try to win back my loss? - page 4. (Read 4078 times)