Why most gamblers can never hold onto big bag? - page 10.

GDragon

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Quote from: plvbob0070 on April 25, 2020, 01:06:50 PM

I don't want to say that losing everything at a single day is normal for gamblers (though it really happens to gamblers) since you might think that it's okay to lose such amount within a day.

Maybe your friend thinks that he can win a big amount of money within a small period of time, that's why he's putting everything on the game. The reason why gamblers tend to lose their money that fast is because of their greed. You see, your friend had won already yet he wasn't contented and risked everything again and went back to zero. Gambling also includes smart thinking and a proper mindset. It's not just about the capital, luck, or strategy. Gamblers should also know when to stop, to avoid any big losses.

This is what I've been thinking too. It is somehow a normal story from a gambler. Winning a huge amount of money then lose it by the end of the day. I think those gamblers are blinded by winning and greed. They think they can have more after winning so much. They are feeling it and once you are feeling it, it so much harder to stop. Those who can afford to stop while winning are those who can still think critically, they are the ones who still have control. This is one of the reasons why a lot of gamblers lose so much at the point they are betting money they didn't even own.

Ulven

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This is one of the advantages of a gambler, because he thinks this way to either win the jackpot or lose everything!!The life of a true gambler needs wisdom, knows the time of entry and exit. Undecided

There are many gamblers who do not know the meaning of withdrawing and delaying gambling until a later time. This makes them more greedy op Tongue

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Quote from: RapTarX on April 25, 2020, 10:25:44 AM

I have one friend who used to play dice in stake.com, he started with a very small fund ($100), out of that money, he managed to have a balance of 24 ETH at some point but unlucky guy lost everything in one day. Once again, with the bonus he got from stake, he managed to cross 30 ETH within less than a month but yesterday, he lost everything once again.
How come he lost everything one day? Do most of the gamblers lose money in such way?

Well that is because he can't keep winning all the time, if it was this easy then everyone would be rich and the casinos, dice sites would go bankrupt. Its all about self-control and when to leave and not get too greedy. I'm not saying that your friend is a greedy person but it sounds like he got over confident and thought that he could keep winning and then it sounds like he went back to try and make up for the loss and lost it all again when he built up a nice amount. When he won the 30 ETH he should of left and maybe return to play in a few weeks or so and yes most gamblers who don't have self-control lose like this.

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Quote from: RapTarX on April 25, 2020, 10:25:44 AM

I have one friend who used to play dice in stake.com, he started with a very small fund ($100), out of that money, he managed to have a balance of 24 ETH at some point but unlucky guy lost everything in one day. Once again, with the bonus he got from stake, he managed to cross 30 ETH within less than a month but yesterday, he lost everything once again.
How come he lost everything one day? Do most of the gamblers lose money in such way?

Greediness will kill you if you are over confident with your self, I guess this is what happen to your friend as your friend wasn't contented to what he have won. That amount is already big and he can cash it out anytime he like but because he likes to earn more then he lost everything because of being greedy.

Most of the gamblers are not winning at the end because they will not get contented even if they are already winning a huge amount of money. But if you are a wise gambler, you can easily divide that amount and make sure that you cash out your capital and a percentage of your winning.

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Quote from: RapTarX on April 25, 2020, 10:25:44 AM

I have one friend who used to play dice in stake.com, he started with a very small fund ($100), out of that money, he managed to have a balance of 24 ETH at some point but unlucky guy lost everything in one day. Once again, with the bonus he got from stake, he managed to cross 30 ETH within less than a month but yesterday, he lost everything once again.
How come he lost everything one day? Do most of the gamblers lose money in such way?

Because gamblers uses money everytime they gamble, and they wont get to bag a good profit everytime, there were unlucky times. A gambler will empty his bag specifically during he started lossing and was trying to take back what he lost by spending double or triple of his betting, thinking "I could manage this loss anyway, because these are my winning profit from the last time I won", this is exactly what happened to your friend.
I have been in his shoes multiple times, where I made enough profit, but bet everything irresponsibly and lost everything including my betting capital.

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Quote from: MCobian on April 25, 2020, 07:25:29 PM

The thing experienced by your friend, lost everything in one day is often experienced by many gamblers including me. That's the interesting thing
from gambling, we can profit suddenly but on the other hand can also suffer sudden losses. My advice stop gambling when it's have 20-30% profit,
if we continue playing surely can finally lose everything. We must control our greed so that it does not happen.

greed is really the reason for it, nothing else. and most gamblers often experience this. hoping that he will get more. already a good amount of money, but he's not contented about it. i bet, it will happen again and again in his gambling life.

MCobian

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The thing experienced by your friend, lost everything in one day is often experienced by many gamblers including me. That's the interesting thing
from gambling, we can profit suddenly but on the other hand can also suffer sudden losses. My advice stop gambling when it's have 20-30% profit,
if we continue playing surely can finally lose everything. We must control our greed so that it does not happen.

xSkylarx

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Gamblers push their luck to the limit, it's human nature to be greedy. However, knowing the risk of gambling you should have control over your self. Once you have filled your bag, you should be contented and enjoy your profit somehow. Then if you want to gamble again, start with a small bag, if you lose stop. The just repeat. I know self-control is easier said than done, however, if you will let your greed take over you, you will lose a lot of money.

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Quote from: RapTarX on April 25, 2020, 10:25:44 AM

I have one friend who used to play dice in stake.com, he started with a very small fund ($100), out of that money, he managed to have a balance of 24 ETH at some point but unlucky guy lost everything in one day. Once again, with the bonus he got from stake, he managed to cross 30 ETH within less than a month but yesterday, he lost everything once again.
How come he lost everything one day? Do most of the gamblers lose money in such way?

Greed and revenge are the 2 things that I see with this situation why it happened.

Your friend started $100 and when he won and have 24 ETH already as you said, he didn't taught of withdrawing some of his winnings or just leave his initial fund in the website stake.com and he just continued to gamble all of his winnings. He is greedy because he didn't withdraw his funds but just hoped that he will get more ETH if he will not withdraw it.

Revenge because when the time your friend got lost, he probably want to get the lost money back and to have some profits by using larger amounts but unfortunately luck doesn't came on his side and he loses everything. These 2 words are deadly and we saw it already here. He got 24 and 30 ETH but he chooses to gamble instead of withdrawing it. He must've be rich right now Cheesy

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Quote from: RapTarX on April 25, 2020, 10:25:44 AM

I have one friend who used to play dice in stake.com, he started with a very small fund ($100), out of that money, he managed to have a balance of 24 ETH at some point but unlucky guy lost everything in one day. Once again, with the bonus he got from stake, he managed to cross 30 ETH within less than a month but yesterday, he lost everything once again.
How come he lost everything one day? Do most of the gamblers lose money in such way?

He isn't the only one suffering from poor money management skills. And this problem is one of the major cause of gamblers lossing money very easily. They can't control themselves to stop gambling the moment they hit the jackpot. They'll want to win more which always end badly for them like what your friend just experience.

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Quote from: RapTarX on April 25, 2020, 10:25:44 AM

How come he lost everything one day? Do most of the gamblers lose money in such way?

Chasing losses or desperate to win something big. I can't say most but what i've noticed is that a lot gamblers probably been in that situation since winning gives you a confidence boost to play even longer until you lose.

Quote from: cabron on April 25, 2020, 04:33:25 PM

Could it be a mistake in betting?
He started with just $100 and turned it to 24ETH, that's a huge profit already but that how easy it is to spend money that isn't hard-earned.

If he encounter a losing streak while doing the martingale strategy then it's an easy loss. 24ETH go to waste but I guess he really meant money in gambling.

The gambler probably thinks the 24 ETH he got only costed him $100 in the first place so it's not that bad to go risk it once again. And it's not just martingale that could cause him to lose all those profits since most dice sites are fast.

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Quote from: RapTarX on April 25, 2020, 10:25:44 AM

I have one friend who used to play dice in stake.com, he started with a very small fund ($100), out of that money, he managed to have a balance of 24 ETH at some point but unlucky guy lost everything in one day. Once again, with the bonus he got from stake, he managed to cross 30 ETH within less than a month but yesterday, he lost everything once again.
How come he lost everything one day? Do most of the gamblers lose money in such way?

this is a matter of self-control...
not only your friend has experienced this, but I have also experienced events like, I was too confident and lead to greed, then I lost everything in a few hours, your friend is too following greed so he lost everything.

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Quote from: RapTarX on April 25, 2020, 10:25:44 AM

I have one friend who used to play dice in stake.com, he started with a very small fund ($100), out of that money, he managed to have a balance of 24 ETH at some point but unlucky guy lost everything in one day. Once again, with the bonus he got from stake, he managed to cross 30 ETH within less than a month but yesterday, he lost everything once again.
How come he lost everything one day? Do most of the gamblers lose money in such way?

This is a very common pattern, most likely he was using something like the martingale betting system in which you double your bet each time you lose, in the short term this could produce profits as you keep wining and every time you lose you recover the money you lost, however eventually your losing streak will be too long and your capital is not going to be enough to endure it losing everything in the process, in fact most likely your friend did not lost his money in a day, this probably happened in the matter of minutes making the loss even more hurtful.

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Could it be a mistake in betting?
He started with just $100 and turned it to 24ETH, that's a huge profit already but that how easy it is to spend money that isn't hard-earned.

If he encounter a losing streak while doing the martingale strategy then it's an easy loss. 24ETH go to waste but I guess he really meant money in gambling.

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Quote from: RapTarX on April 25, 2020, 10:25:44 AM

How come he lost everything one day? Do most of the gamblers lose money in such way?

The thing with most gamblers is that when the funds are less, they go with small amounts, takes less risks and when the funds are big, they go for high rolls and take more risks. While playing high risk rolls, either they manage to win big in a day or go bust in a day. If you take crash game for an example, some gamblers won't risk too much and cash out around 2x while some go for 30x , 50x etc. I guess your friend falls under the second category of players who goes for the high risk rewards while you fall under the first category.

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Quote from: RapTarX on April 25, 2020, 10:25:44 AM

I have one friend who used to play dice in stake.com, he started with a very small fund ($100), out of that money, he managed to have a balance of 24 ETH at some point but unlucky guy lost everything in one day. Once again, with the bonus he got from stake, he managed to cross 30 ETH within less than a month but yesterday, he lost everything once again.
How come he lost everything one day? Do most of the gamblers lose money in such way?

Incredible and very sad story.
I will say only one thing for his loss, it is greed. He should have stopped after he won 24 ETH. Why go for more when already you have made more than 1k.

Sorry to hear about his loss.

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Quote from: RapTarX on April 25, 2020, 10:25:44 AM

How come he lost everything one day?

I read somewhere that when one gets addicted to gambling; "the wager amounts lose meaning, and it becomes just figures on a screen", this way all that matters to them is the next game, and the next. Your friend should train himself to take regular breaks while gambling, whether he's winning or losing. This way he would be able to make a wise decision when resuming

Quote from: RapTarX on April 25, 2020, 10:25:44 AM

Do most of the gamblers lose money in such way?

I don't have a statistic to go by, but most people who are addicted to gambling would likely run through a big winning if they were to have one.

plvbob0070

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I don't want to say that losing everything at a single day is normal for gamblers (though it really happens to gamblers) since you might think that it's okay to lose such amount within a day.

Maybe your friend thinks that he can win a big amount of money within a small period of time, that's why he's putting everything on the game. The reason why gamblers tend to lose their money that fast is because of their greed. You see, your friend had won already yet he wasn't contented and risked everything again and went back to zero. Gambling also includes smart thinking and a proper mindset. It's not just about the capital, luck, or strategy. Gamblers should also know when to stop, to avoid any big losses.

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Quote from: RapTarX on April 25, 2020, 10:25:44 AM

I have one friend who used to play dice in stake.com, he started with a very small fund ($100), out of that money, he managed to have a balance of 24 ETH at some point but unlucky guy lost everything in one day. Once again, with the bonus he got from stake, he managed to cross 30 ETH within less than a month but yesterday, he lost everything once again.
How come he lost everything one day? Do most of the gamblers lose money in such way?

Bad luck caught up with him, I wonder does he not know that every day is not a lucky day, he should be a wise gambler, he must know when and how to quit but most importantly how to balance everything like allocating fund whenever he is gambling, he must be frustrated to lose that huge amount but it's a lesson learned that everything should be in moderation.

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Quote from: RapTarX on April 25, 2020, 10:25:44 AM

I have one friend who used to play dice in stake.com, he started with a very small fund ($100), out of that money, he managed to have a balance of 24 ETH at some point but unlucky guy lost everything in one day. Once again, with the bonus he got from stake, he managed to cross 30 ETH within less than a month but yesterday, he lost everything once again.
How come he lost everything one day? Do most of the gamblers lose money in such way?

Most of the people losing their money from betting in such a way because to make profits from gambling it will take too long but to lose it may happen with a long streak and this is also the reason why people stuck with gambling even if they wanted to stop, they are making money but they lost everything in a blink so they work hard on strategies but lose again at some point then it keeps repeating.

Topic: Why most gamblers can never hold onto big bag? - page 10. (Read 1862 times)