Threshold of Loss in Gambling - page 9.

BitcoinPanther

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Quote from: Davidvictorson on July 12, 2022, 11:36:58 AM

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

It was Monday of this week. My threshold of loss while gambling is 30% of my income. This Monday after the sig payment, I played in Betplay depositing 30% of my signature payment. It was good in the beginning then a series of red streaks hit me until my bankroll runs out.

erep

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Quote from: $crypto$ on July 13, 2022, 03:44:59 PM

snip

I'm sure gamblers really object to making data tables from gambling deposits, I'm not surprised that many have the same response because gamblers have realized that they often lose compared to winning and I only suggest a solution for gamblers who want to have detailed financial data in gambling, but the ratio of losing /win is meaningless to gamblers who enjoy it as entertainment, they tend to only deposit low funds to gamble.

Oilacris

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Quote from: AakZaki on July 13, 2022, 04:06:01 PM

Quote from: Gozie51 on July 13, 2022, 11:18:09 AM

I have an experience like many others have got that bad feeling of losing so much. I think around 2 years ago or close to it that I experienced it but in my own case was not a bet money, it was a potential winning that I should have cashed out. I bet on soccer games but with little risk and when I lose it I don't chase back my money as it is dangerous to do because you will keep losing. At times I also take a break if I have made consecutive losses.

If you have succeeded in doing that, then your emotional management has been successful. It is quite difficult to train emotions and mentally, because I myself know that emotional and mental management is almost similar to trading. Those who do not have will continue to lust for profit and return losses, although in the end they will lose. It took me years to learn that. Although gambling is different, emotional control is a major factor. If your emotions cannot be managed then everything will be damaged, it should not happen to gambling or trading.

Emotional management is one of the most crucial thing that should really be learnt off specially when you are dealing with gambling or any other thing which does really need proper control on burst of emotions because with this you could really affect your decisions to be made ahead and we know that decisions on stopping when at lose is very crucial thats why on the time that you do able to stop
mid way without any problems then you had definitely able to achieve that emotional management where people should really be learning since from the start.
Dont make yourself get wrecked by gambling in terms of finances just because you had made out bad decisions due to greed and becoming that impulsive.

carlisle1

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Quote from: Boristhecat on July 13, 2022, 02:33:51 PM

To be honest, I didn’t really understand the meaning of this study (what new did it discover?) and I would say that the threshold after reaching which the player stops playing is always very different - even for one person. If the salary is still far away and there is already little money, then most likely the threshold will be very low, hehehe. By the way, I had a classmate with probably the smallest loss threshold I've ever seen - he hated to lose, so he basically didn't play competitive games. He never tried arm wrestling even if he was twice the size of his opponent.

He value his money for sure Roll Eyes

going back to the topic; I see your point, and it's true that gamblers have a different threshold

some can do large amount while others have only limited and they are fully aware of how to limit their gambling activities, though by doing

this as a gambler, the chance that you can see the value of your losses and your earnings, you can adjust if you see that your analysis serves

well and gives you a higher chance of winning and vice versa.

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Quote from: Gozie51 on July 13, 2022, 11:18:09 AM

I have an experience like many others have got that bad feeling of losing so much. I think around 2 years ago or close to it that I experienced it but in my own case was not a bet money, it was a potential winning that I should have cashed out. I bet on soccer games but with little risk and when I lose it I don't chase back my money as it is dangerous to do because you will keep losing. At times I also take a break if I have made consecutive losses.

If you have succeeded in doing that, then your emotional management has been successful. It is quite difficult to train emotions and mentally, because I myself know that emotional and mental management is almost similar to trading. Those who do not have will continue to lust for profit and return losses, although in the end they will lose. It took me years to learn that. Although gambling is different, emotional control is a major factor. If your emotions cannot be managed then everything will be damaged, it should not happen to gambling or trading.

$crypto$

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Quote from: erep on July 13, 2022, 03:26:18 PM

Quote from: hyudien on July 13, 2022, 12:23:33 PM

I don't really remember exactly what the threshold for the number of losses was, but when it comes to winnings, maybe I can still count them. In terms of gambling I really enjoy the process, I mean non-addiction makes me feel more comfortable and at ease without worrying about having to lose more.

Actually you have to create a data table (excel) that the allocation of money has been used for the threshold in gambling, it will be easier to calculate the winnings based on the amount of money that has been deposited into gambling, if you don't have a table yet, you can take data from the deposit history and add the winning column from gambling then you will know the actual win/loss results so far.

I don't think about the threshold of losing or winning because for me it's not important let alone create a table in excal about deposit data if that I know I might be surprised because a lot has been deposited so I forgot and never made a table for it.
For me, gambling is fun, so there is no need to create data tables like that, but for me to lose or win, it's normal, there is no need to think too much even though I have been in gambling for a long time but my goal is not to win big, it's just a game that I want all this time.
If I remember from the ratio, maybe there are more losses than wins.

erep

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Quote from: hyudien on July 13, 2022, 12:23:33 PM

I don't really remember exactly what the threshold for the number of losses was, but when it comes to winnings, maybe I can still count them. In terms of gambling I really enjoy the process, I mean non-addiction makes me feel more comfortable and at ease without worrying about having to lose more.

Actually you have to create a data table (excel) that the allocation of money has been used for the threshold in gambling, it will be easier to calculate the winnings based on the amount of money that has been deposited into gambling, if you don't have a table yet, you can take data from the deposit history and add the winning column from gambling then you will know the actual win/loss results so far.

fullhdpixel

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Quote from: Davidvictorson on July 12, 2022, 11:36:58 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?

Gambling is fun if your goal is to have fun only but for those that goal is to earn and they didn't met their expectations then gambling can be stressful for them. Not all can enjoy on a land based casinos because they are noises around but they can enjoy more if they will play online on their own room while there can be some that want's the real thing (machines) and then they love to socialize with other people in a physical way.

In order to be successful at gambling, one must not count his losses because if you do then it will only give you a bad feeling and can discourage you to play gambling again but there are those who count their losses and then will try to recover it even if they know that it's almost impossible.

Boristhecat

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To be honest, I didn’t really understand the meaning of this study (what new did it discover?) and I would say that the threshold after reaching which the player stops playing is always very different - even for one person. If the salary is still far away and there is already little money, then most likely the threshold will be very low, hehehe. By the way, I had a classmate with probably the smallest loss threshold I've ever seen - he hated to lose, so he basically didn't play competitive games. He never tried arm wrestling even if he was twice the size of his opponent.

Zlantann

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I don't have any threshold when am gambling. I usually use my spare funds for it. Ones I loose the actual amount I have as extra funds, then I am done with games at that time. In the case of having threshold for wins, its quite difficult for me because sometimes it is my immediate needs that determines when I would quit. Maybe if I have a need to pay some bills, immediately I win that amount of money, I might stop the game for the day and go home and celebrate by paying the due or pressing bill. Generally I ensure that I don't gamble more than I can afford to loose comfortably.

Alisha-k

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It's necessary to have a plan or a target spending when it come to gambling else you may end up emptying all you have in your account. I think it's safe to say one loss after gambling is enough or me to withdraw. I could set out a specific amount for that purpose, but the thought of continuing after the first loss doesn't seem appealing any longer.

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Quote from: Davidvictorson on July 12, 2022, 11:36:58 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 think for most people, they go into the gambling world without a plan or a strategy and obviously without a threshold. They just keep on gambling until all the money they own (or money that they have brought with them) is completely and utterly lost.

I would say that most think with the mentality which is that "If I can win back my loss, everything will be ok again. I just need to double down on my bet and risk everything". This is not only dangerous but foolish. But it is within human nature so I don't think anyone can be made to blame.

Best thing to do is to decide the threshold of loss beforehand and have enough discipline to leave the gambling site once you have reached it.

hyudien

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I don't really remember exactly what the threshold for the number of losses was, but when it comes to winnings, maybe I can still count them. In terms of gambling I really enjoy the process, I mean non-addiction makes me feel more comfortable and at ease without worrying about having to lose more.

Silberman

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Quote from: virasisog on July 13, 2022, 11:08:06 AM

Quote from: ethereumhunter on July 13, 2022, 09:30:39 AM

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.

We have different allocated funds for gambling so for sure, we have have different threshold. I'm only allocating a 10% portion of my salary for gambling and I usually stop whenever I lose all of it. I don't want to exceed and then regret things later on. I don't want to try hard to recover my losses using the funds that I can't afford to lose so I really control my emotions.

Some people may think that is too much money which is destined towards gambling but in my opinion if you like gambling that much then it makes sense to spend such amount to entertain yourself and use it in something you like, however the issue is that many people do not have any clear limits and in many cases even if they do have them they do not respect them, and that is when they begin to have problems to control their gambling which could eventually develop into an addiction.

pawanjain

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Nothing lasts forever

Almost every gambler would have faced this. For me it was around 2 years ago when I was gambling at various sites.
I was chasing my wins and in the process made many losses. It was one of those times that I realized this is the limit.
After that I pretty much placed small bets and never crosses my threshold ever again.

Gozie51

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I have an experience like many others have got that bad feeling of losing so much. I think around 2 years ago or close to it that I experienced it but in my own case was not a bet money, it was a potential winning that I should have cashed out. I bet on soccer games but with little risk and when I lose it I don't chase back my money as it is dangerous to do because you will keep losing. At times I also take a break if I have made consecutive losses.

AbuBhakar

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🇵🇭

I’m regularly playing live games of evolution gaming and I’m only depositing 20$ per day and that’s all I can afford to lose. I never deposit more than that after I experienced terrible loss on dice game before. This is my personal method for limiting myself on losing huge amount in gambling. I never deposit huge money because there’s a high tendency that I will loss it all before I stop myself playing.

I think we have our own personal threshold method and it will be good if OP summarized all the informative suggestion so that we can develop a strategy using all gathered data from experience.

virasisog

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Quote from: ethereumhunter on July 13, 2022, 09:30:39 AM

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.

We have different allocated funds for gambling so for sure, we have have different threshold. I'm only allocating a 10% portion of my salary for gambling and I usually stop whenever I lose all of it. I don't want to exceed and then regret things later on. I don't want to try hard to recover my losses using the funds that I can't afford to lose so I really control my emotions.

coinerer

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Quote from: fiulpro on July 12, 2022, 11:51:38 AM

If am investing 80$ in Gambling, then I do understand that if I am loosing very fast and I have already lost more than 90%, I am not going to invest any more money in there since I know my luck is not on my side as well, so what I would do is to use all that amount that I do have in there and would not attempt to further add any more on the same day or even on consecutive days, for me threshold does not depend on the Money that I invest in Gambling but it does depend on how much I have lost, what Percentage have I lost, which is usually, 90% but my anxiety starts calling me at 50% usually.

Your plan is good . If someone lose his deposit and he is addicted to gambling and keeps depositing there to recover his loss. Then it will take a more horrible form for him and he will face a bigger kind of losses. So it is better to stop gamble when you loss your 70-80% of first deposit

Doell

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Quote from: Davidvictorson on July 12, 2022, 11:36:58 AM

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

Remember, sure. But isn't this included in the strategy of setting a budget in gambling, where gamblers must be able to manage the bets issued when they have reached the point of losing? as a professional gambler this may be into their strategy, but not with gamblers who are just for fun, and fill at least their free time to pleasure.

Topic: Threshold of Loss in Gambling - page 9. (Read 1953 times)