Threshold of Loss in Gambling - page 10.

KTChampions

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Quote from: danherbias07 on July 13, 2022, 12:39:59 AM

$300 in a day loss. I can still remember the emotional state it brought me after that.
It may be small for others but for a third-world country that's a month of salary now and even for a high-rank employee 5 years ago.
A stupid mistake trying to chase for my loss which we all know is an ingredient for chaos to lose more and it did happen.
I changed the game I play to sports betting because dice are where you wouldn't stop betting. Now, I only bet once a day and would not even reach that amount.

Chasing aka Martingale is also found in sports. Some bettors like to bet on a team until it wins/loses and this also leads to maximum losses. But of course it's hard to compare to dice where you can bet every second without having to wait for the next round of competition like in sports. I have also given up dice completely lately, although I really like this game and have focused on betting.

YOSHIE

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Quote from: Davidvictorson on July 12, 2022, 10:36:58 AM

My question is, can you remember a time when you reached your threshold of loss while gambling?

I remember the incident that happened to me in a loss, it happened 3 years ago, where I had to accept the fact that I lost in gambling due to my own greed.

I made a bet on one of the gambling sites with two games that I bet on Roulette and slots, with a capital of $ 30, first I played a game of Roulette, I won and was paid x14, total: $ 420, because I was too excited, I bet half the budget in the slot, won again, because I was greedy, I risked all the money, the end of the story I lost all capital and the initial win was exhausted.

Those are the moments and events of losses in gambling that I have ever experienced and I remember until now, so I realized that greed in the world of gambling can make me suffer a total loss.

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Quote from: Poker Player on July 13, 2022, 01:03:06 AM

In my case playing poker the threshold I have is more mental than economic. If you play EV+, even if you are losing it's worth to keep playing as long as it doesn't affect your mental state. But if you have been losing a lot and you start to feel a bit tired or something, it's better to stop playing.

For poker players, I imagine pretty huge because of the pot. I don't see myself adding a dollar to it when I got nothing in my cards but some who are good with bluff will do. Me losing just $25 in a boxing match is something I already have to rethink why I decided to bet on the boxer. A slight regret probably and will then have to adjust how I analyze again both boxers.

Losing $25 from a boxing match and $25 more from soccer will already make me think of which sport I'm not good at analyzing players. Too small for a threshold I guess but its going to occupy my mind for a day thinking why I lose.

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I think the minimum threshold of a gambler with another will be very different because one gambler may not remember the loss threshold while gambling because he does not calculate how much money he used to gamble. Me too because I'm just playing and maybe not using 50% of the total money in my account. Maybe I can stop when I win a few spins or get $1-$5 because I'm not after gambling profits. But if I lose, I always try not to go over $5 and if the $5 limit is the loss threshold @OP is referring to, maybe $5 is the loss threshold I can accept.

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Quote from: Davidvictorson on July 12, 2022, 10:36:58 AM

My question is, can you remember a time when you reached your threshold of loss while gambling?

I remember a time where I was around 15-16 years old and crate keys were introduced in Dota 2 back then. When such was introduced, this almost became the main currency of trading rares and items on the game. The process goes like this: a bot will add you and you guys will pay BlackJack via Steam chat. If you win the bet, the bot will automatically trade you the amount that you wagered x2.

Furthermore, I started betting with one key until I was able to profit to at least 30 keys. My loss threshold was around 5 keys but when I started experiencing a losing streak, my keys dropped from 30 to 15 and to 2. I managed to recover from 2 to 16 keys but I did a 50/50 and eventually loss all of my keys in the process.

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Quote from: Peanutswar on July 13, 2022, 05:55:37 AM

We know how gambling gives fun to the player at the same time it has full of risk because we don't know the possible outcome of the game, some of the players already celebrate the small wins but if you will check at the bigger picture it has a lot of losses than the wins, well it depends on the perspective of the player some of them as long as they enjoy the game for sure they will regret, base on my experience i tried to play a planko and i win before in slot games after that of spamming ball i didn't notice that my balance went to zero its almost a hundred dollars of earnings i lose in just enjoying the game.

Threshold is something we should always consider if we don't want to get ourselves in trouble of gambling addiction. Gambling addiction can be as a result of not sticking to our threshold. Once I use up my threshold, I stop betting till another day that I might be interested in playing bets. As we gamble, we should be prepared to plan ourselves so we don't fall into a bad habit of using up our threshold and adding more fund due to the urge we get when we gamble.

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Quote from: Poker Player on July 13, 2022, 01:03:06 AM

In my case playing poker the threshold I have is more mental than economic. If you play EV+, even if you are losing it's worth to keep playing as long as it doesn't affect your mental state. But if you have been losing a lot and you start to feel a bit tired or something, it's better to stop playing.

Absolutely!
This is actually dangerous for those bears a lot of money in their online gambling account, or someone who brought a lot of money inside the casino. Once you lost your composure, you'll start becoming frustrated, and once that happens it might cost you all of the money you have.
It somehow starts with mental before economic when we're talking about threshold of loss in gambling.

Peanutswar

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We know how gambling gives fun to the player at the same time it has full of risk because we don't know the possible outcome of the game, some of the players already celebrate the small wins but if you will check at the bigger picture it has a lot of losses than the wins, well it depends on the perspective of the player some of them as long as they enjoy the game for sure they will regret, base on my experience i tried to play a planko and i win before in slot games after that of spamming ball i didn't notice that my balance went to zero its almost a hundred dollars of earnings i lose in just enjoying the game.

Maus0728

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My loss threshold is when I lost my 2 week signature campaign payout on a single click in dice at a bitcoin price hovering around $15k per coin.

Like what the hell just happened a few seconds ago Roll Eyes

. You literally busted a few hundred dollars of hardwork in a blink of an eye. This maybe considered small loss to others but for someone living in a 3rd world country -- that amount can feed you for a month.

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Quote from: Yogee on July 12, 2022, 05:42:40 PM

Some gamblers even have what they call a weekly or a monthly betting budget but I don't really pay that much attention to that. Sometimes I even find it funny because they tend to ignore it when they're on a losing streak.

That is the best, to have a weekly or monthly budget for gambling, but out of 100% of the weekly or monthly budget, I expect less than 5% to be for gambling while others should be for family finance and savings. Anyone that do not consider gambling as a way to make money will not find himself using more than the weekly or monthly budget. Sometimes I even use lesser than the weekly budget.

Quote from: gunhell16 on July 13, 2022, 02:09:07 AM

Every time I play online gambling in crypto, I don't think about how much I should lose in gambling, as long as I can be sure that the amount of money I put into the gambling platform is not big. Maybe for the big ones who are really into casino online gambling, I can say that there is a threshold limit to avoid too much loss. It seems that you still have control over money when we know we are losing at gambling.

I either. That is the problem in gambling, putting the amount they can not afford to lose, if loss is the result, the person will think about it and it can even lead to depression. I still wonder why some people just like to go through the depressed state of mind which is not helpful for the body at all, if they use the amount they can afford to lose, they will not be depressed if they lose.

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Quote from: Davidvictorson on July 12, 2022, 10:36:58 AM

^[snip]

My question is, can you remember a time when you reached your threshold of loss while gambling?

Well before when I am very addicted to poker games either online or offline.
I still remember is freshly I gambled my 1 month earning on a signature campaign, I managed to earn profit for a short while and it triggered my addiction and I consistently gambled every day. But in the end --I did not notice that my money that was deposited on gambling had been lost everything until such day I am trying to control my temper and promise myself not to gamble again. But the result was I am still here and wanted to gamble and come back sometime when I have free time and extra money to gamble, ^{[not like before]}.

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When I was still a degenerate, my threshold is $100, and anything more than that is clearly due to my 'mild addiction' that thankfully I managed to curb. I would go on and play for hours upon hours not realizing that I've already deposited a handful of times before I come to my senses. It took me some months before I shifted my interest into something else for a bit and when I came back, I only played for fun and to kill time which I'm still doing up until now.

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Quote from: Davidvictorson on July 12, 2022, 10:36:58 AM

Gambling is fun. And it doesn't matter whether you go to a land-based casino to bet or an online casino. When we bet, we celebrate our wins and count our losses. According to this study, the researchers found that gamblers are satisfied with small wins and will tolerate small losses but when they hit the threshold of loss, they will not play anymore. I will attempt to define threshold of loss as regards gambling as the minimum intensity at which a gambler can no longer tolerate a loss.

My question is, can you remember a time when you reached your threshold of loss while gambling?

I don't remember when I was on the verge of losing but clearly, I never lingered in gambling because I know that the longer I gamble, I run the risk of losing more money and the temptation to deposit some money will be even greater. That's why when I feel I've had enough gambling, whatever the risk, I will stop immediately and leave the casino site. And if I have won, I will immediately stop gambling regardless of the amount. Maybe I'll go back to gambling a few days or weeks later.

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Quote from: Davidvictorson on July 12, 2022, 10:36:58 AM

My question is, can you remember a time when you reached your threshold of loss while gambling?

Yeah that happens regularly to me when I gamble. Usually I have fixed budgets per week that I give myself to gamble with and when I lose my budget than I have to stop playing for that week. So it's kind of my budget is my weekly loss threshold, whereas winnings I try to take out of the budget and save it for the next weeks. Maybe my threshold is set too low, but I hit it quite regularly. For example, two weeks ago I was playing poker and had AA, so I went all in and lost all. After rebuying and a few hands later I had a flush and went all in and lost it all again because someone else had a higher flush. Then I played a few hands roulette trying to recover and lost again. In less than two hours I reached my loss threshold for the week and had to stop gambling. In the past when I don't give myself a fixed budget for gambling I tend to gamble too much and my losses become higher. With the fixed budget my winnings are smaller but so are also my losses, it's the best approach for me to enjoy gambling long term without losing too much.

gunhell16

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Quote from: Davidvictorson on July 12, 2022, 10:36:58 AM

Gambling is fun. And it doesn't matter whether you go to a land-based casino to bet or an online casino. When we bet, we celebrate our wins and count our losses. According to this study, the researchers found that gamblers are satisfied with small wins and will tolerate small losses but when they hit the threshold of loss, they will not play anymore. I will attempt to define threshold of loss as regards gambling as the minimum intensity at which a gambler can no longer tolerate a loss.

My question is, can you remember a time when you reached your threshold of loss while gambling?

Every time I play online gambling in crypto, I don't think about how much I should lose in gambling, as long as I can be sure that the amount of money I put into the gambling platform is not big. Maybe for the big ones who are really into casino online gambling, I can say that there is a threshold limit to avoid too much loss. It seems that you still have control over money when we know we are losing at gambling.

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Quote from: Davidvictorson on July 12, 2022, 10:36:58 AM

Gambling is fun. And it doesn't matter whether you go to a land-based casino to bet or an online casino. When we bet, we celebrate our wins and count our losses. According to this study, the researchers found that gamblers are satisfied with small wins and will tolerate small losses but when they hit the threshold of loss, they will not play anymore. I will attempt to define threshold of loss as regards gambling as the minimum intensity at which a gambler can no longer tolerate a loss.

My question is, can you remember a time when you reached your threshold of loss while gambling?

Most likely it is the amount as you described in which a gambler can no longer tolerate a loss.For me this amount has been to lose a really huge amount of money,at least to me because the price of Bitcoin was really big back then,I lost like 0.29 Bitcoin when its price was like 48.000 dollars,since then I laid down really angry but stayed like that for all night thinking of what I have done and thinking of what could I have bought with that amount of money,and it was a lot of things.We as gamblers don't think like that when we are playing as if we did then quitting would be easy.

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In my case playing poker the threshold I have is more mental than economic. If you play EV+, even if you are losing it's worth to keep playing as long as it doesn't affect your mental state. But if you have been losing a lot and you start to feel a bit tired or something, it's better to stop playing.

danherbias07

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$300 in a day loss. I can still remember the emotional state it brought me after that.
It may be small for others but for a third-world country that's a month of salary now and even for a high-rank employee 5 years ago.
A stupid mistake trying to chase for my loss which we all know is an ingredient for chaos to lose more and it did happen.
I changed the game I play to sports betting because dice are where you wouldn't stop betting. Now, I only bet once a day and would not even reach that amount.

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Quote from: Davidvictorson on July 12, 2022, 10:36:58 AM

Gambling is fun. And it doesn't matter whether you go to a land-based casino to bet or an online casino. When we bet, we celebrate our wins and count our losses. According to this study, the researchers found that gamblers are satisfied with small wins and will tolerate small losses but when they hit the threshold of loss, they will not play anymore. I will attempt to define threshold of loss as regards gambling as the minimum intensity at which a gambler can no longer tolerate a loss.
-snip-

I thought when people start losing they end up chasing their loss until they can no longer afford to lose. I have seen many gamblers that have reached their loss threshold but end up gambling more to cover all their loss. It in most cases, never ended well at all.

Quote from: Davidvictorson on July 12, 2022, 10:36:58 AM

My question is, can you remember a time when you reached your threshold of loss while gambling?

Don't know about me, but I guess it would be their whole balance?

davis196

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Quote from: Davidvictorson on July 12, 2022, 10:36:58 AM

Gambling is fun. And it doesn't matter whether you go to a land-based casino to bet or an online casino. When we bet, we celebrate our wins and count our losses. According to this study, the researchers found that gamblers are satisfied with small wins and will tolerate small losses but when they hit the threshold of loss, they will not play anymore. I will attempt to define threshold of loss as regards gambling as the minimum intensity at which a gambler can no longer tolerate a loss.

My question is, can you remember a time when you reached your threshold of loss while gambling?

My threshold of loss is really low, but I have always gambled with small amounts of money.
When I saw this forum thread title, I thought that you are going to discuss about crypto casinos imposing a threshold of loss, above which the gamblers aren't allowed to bet money on that particular casino. I guess that no crypto or fiat casino in the world would agree to put limits on it's own revenue and profits. Casinos are the making most of their money out of the gambling addicts. Sad but true.
This study doesn't bring anything new to the table. We already know that most players gamble for fun and the hardcore gambling addicts are a minority.

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