You'll need extreme luck and of course discipline to be able to stop at the right time.
Yeap,,, you got my point. Strict discipline is highly recommended for every gamblers which actually play the key role during gambling. Who are not well disciplined and have lack of self control will always run after big wins and as result it can bring huge losses anytime. Most interesting thing is that in the field of gambling its quite rare to find well disciplined gamblers. Professional gamblers have their own strategy, discipline and self control which drive them during their game and save them from being bankrupt. 
Topic: Why most gamblers can never hold onto big bag? - page 2. (Read 1862 times)
Gambling is the only platform which can make you millionaire just in one night but have chances of being bankrupt in the morning. That's why people love to put all blame on their luck.
Well as for me, I would not blame my luck, rather I would blame myself as I am the one making the decision and I understand that a gambler cannot be lucky all the time. When seeking to become a millionaire in gambling, that seems to be a hard mission, unless you have a decent amount of capital close to million, but starting from a small capital and you want to turn into million, you'll need extreme luck and of course discipline to be able to stop at the right time.
We can't have to blame luck because luck comes without we want, and the luck will go only to the right person. But we should know that playing gambling will need luck so we need to remember that if we cannot win on the gambling, then we should stop for a while, and think that our luck is not coming to us. Getting millionaire from gambling is possible, but many people don't realize that, and they still chase that from time to time. If they can consider that luck is one important, they will not try to force themselves to pursue the luck by playing more.
Gambling is the only platform which can make you millionaire just in one night but have chances of being bankrupt in the morning. That's why people love to put all blame on their luck.
Well as for me, I would not blame my luck, rather I would blame myself as I am the one making the decision and I understand that a gambler cannot be lucky all the time. When seeking to become a millionaire in gambling, that seems to be a hard mission, unless you have a decent amount of capital close to million, but starting from a small capital and you want to turn into million, you'll need extreme luck and of course discipline to be able to stop at the right time.
How come he lost everything one day? Do most of the gamblers lose money in such way?
As you have already mentioned on your topic that your friend easily got 24 Eth and after losing everything again made 30 eth through gambling. Yeap,,,its the nature of gambling where you can easily make huge profits but chances of being empty pocked is also higher too. Self control is the only thing which can help you to make some easy money but if you play aggressively than definitely you will lose most of your funds. You can tell your friend to make some study about the word "Greedy" which may help him to hold his winning fund in the upcoming days.Gambling is the only platform which can make you millionaire just in one night but have chances of being bankrupt in the morning. That's why people love to put all blame on their luck.
Gamblers who have huge bankroll most of the time thinks that they can comes out with decent profits, trying to keep playing while funds still doing great and some lucks gives them hint, but in the longer run those lucks start to fade and losing streaks begins to show up and with aggressive approach this gamblers will only realize that everything was gone and busted.
I will think of the opposite, gamblers who have decent bankroll are more discipline and compose than those who does not have. here's what I believe.
Gamblers with huge bankroll are strict with their bankroll management, they focus on the long term profit using their consistency in gambling.
Gamblers with less bankroll are usually aggressive because they like to grow their money in many folds thus they are taking a huge risk.
How come he lost everything one day? Do most of the gamblers lose money in such way?
When it comes to playing, there are times that you will win, but we all know that after all those winning, you will suddenly lose because luck is not on your side everytime.In this case, your friend might have face his losing streak and tried to take his losses back, unfortunately, your friend wasn't able to do that and end up losing all his money.
If you lost that amount when BTC was around $200, and today you see that it's $1,000, I can relate because the same happened to me as well. But I can't understand how could you not care about losing $1k in BTC when it was $1k at the moment. Have you never exchanged your BTC for USD before? Because only in that case you could see those thousands of sats as some virtual "play money" with no relation to the physical world. Once you exchanged it, you feel they are real
That's one of the reasons brick-and-stone casinos use chips
Indeed, chips are more handy and convenient overall (compared to paper money or coins), but we shouldn't throw away a psychological aspect of them either. As the case described above proves, most people deep down don't feel like they are playing with real money, and that's what casinos want. Otherwise, gamblers would be way more cautious, careful and prudent with their shekels. That's not what casinos want. They want you to be reckless and wild, so when you see a pile of chips, they are just that, round pieces of cheap plastic
I personally can't relate, because even when I play poker with my friends using a cheap poker game set like this one
those chips feel valuable to me like real money, even though we never assign cash equivalent to them(we don't play for money, it's a friendly game).
But that's not to say that I disagree with you. People are different, and, indeed, on most of them real physical money produce some "magical" effect that chips and other substitutes fail to produce.
He is not chasing losses because he wins more than what he has as capital what happens here is that OP's Friend becomes Greed to chase for more wins and not leaning back about the losing he got.
He lose a bit but he got a big regret for this lose, when you are up and you are still thinking to win more, there's a chance that you'll end up with nothing because you will lose everything, that's pretty normal in gambling, one can start with a small bankroll get aggressive while gambling to win big amount and if it happen it happen, the problem is when to stop and just cash out to enjoy it.
If we can only get contented, we can always enjoy our winning by spending it to whatever we like to buy, then start a small bankroll again and try to win big just like what we have done previously, I think this is quite better than losing your winning instantly.
How come he lost everything one day? Do most of the gamblers lose money in such way?
When it comes to playing, there are times that you will win, but we all know that after all those winning, you will suddenly lose because luck is not on your side everytime.In this case, your friend might have face his losing streak and tried to take his losses back, unfortunately, your friend wasn't able to do that and end up losing all his money.
He is not chasing losses because he wins more than what he has as capital what happens here is that OP's Friend becomes Greed to chase for more wins and not leaning back about the losing he got. If we gamble and win we think the same scenario will going to happen again.
That is in fact, true especially if the games that you are playing is dice game where there is no significant signs if you will win or not, meaning to say that your basis to tell if you will win is the previous game that you played. What happens is that, the opposite of what we think which is losing. That is because gambling and winning doesn't certify us to win always, there is always a chance to lose and perhaps, it is higher than the chance to win.
The reason why some of us keep playing for the hope we can get back what they lost or win the same amount like before. Its easy to spend the amount we didnt earn from hard work thus it would be better to have a plan how to manage it by having a limit how much to spend in gambling.
Not all the time, sometimes there are people that knows how to value funds even if it doesn't come from hardwork. Traders I can say, they didn't allow their funds to be lost so they always execute decisions based from the market graph and condition. The same as in gambling, what we need is control. Control to say that we have earned enough because with greed, we can lose everything in just one day.
How come he lost everything one day? Do most of the gamblers lose money in such way?
When it comes to playing, there are times that you will win, but we all know that after all those winning, you will suddenly lose because luck is not on your side everytime.In this case, your friend might have face his losing streak and tried to take his losses back, unfortunately, your friend wasn't able to do that and end up losing all his money.
It is difficult to know how to stop while you are winning, while the trend is positive, my strategy is this if I win what is more than the budget that I have allocated to the game I put it aside and do not replay it
If we gamble and win we think the same scenario will going to happen again. The reason why some of us keep playing for the hope we can get back what they lost or win the same amount like before. Its easy to spend the amount we didnt earn from hard work thus it would be better to have a plan how to manage it by having a limit how much to spend in gambling. It is difficult to know how to stop while you are winning, while the trend is positive, my strategy is this if I win what is more than the budget that I have allocated to the game I put it aside and do not replay it
As long as we don't greedy to make more money, we can stop gambling anytime. Greediness will be the enemies that will prevent us from stopping from playing gambling while we are winning.
Even if we win some rounds, we recover the loss that we already got before, but that is not the real winning because we win to cover the lost. If we can know that no matter how much time we spend in gambling, that can only give you the chance to lose. It is better to feel enough is enough, so we can know what we should do if we lose or win. Besides that, we can know about allocating the money that will be used for playing gambling.
For me I'll just stop monitoring my loses as I don't want to give this a headache in my gambling activity.
The thing is, when you keep thinking of recovering your previous loses, you'll never enjoy gambling because it's given that most gamblers loses .
So, if your purpose is just to have fun, you should focus on what you have in a certain session, and enjoy gambling, regardless of the outcome.
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It is difficult to know how to stop while you are winning, while the trend is positive, my strategy is this if I win what is more than the budget that I have allocated to the game I put it aside and do not replay it
As long as we don't greedy to make more money, we can stop gambling anytime. Greediness will be the enemies that will prevent us from stopping from playing gambling while we are winning.
Even if we win some rounds, we recover the loss that we already got before, but that is not the real winning because we win to cover the lost. If we can know that no matter how much time we spend in gambling, that can only give you the chance to lose. It is better to feel enough is enough, so we can know what we should do if we lose or win. Besides that, we can know about allocating the money that will be used for playing gambling.
It is difficult to know how to stop while you are winning, while the trend is positive, my strategy is this if I win what is more than the budget that I have allocated to the game I put it aside and do not replay it
As long as we don't greedy to make more money, we can stop gambling anytime. Greediness will be the enemies that will prevent us from stopping from playing gambling while we are winning.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
It is difficult to know how to stop while you are winning, while the trend is positive, my strategy is this if I win what is more than the budget that I have allocated to the game I put it aside and do not replay it
As long as we don't greedy to make more money, we can stop gambling anytime. Greediness will be the enemies that will prevent us from stopping from playing gambling while we are winning.
Your strategy is good, and I think that is what we must do after we win so we don't have to get another loss in the next round. That can prevent us to see the passion for playing gambling become bigger too.
Over confidence is another reason why the gamblers lose all the money in one go. A sensible gambler will never lose money all at once. He will play slowly and steadily. When you see a person making big bets, the reason is that he is playing with emotions and greed, and he will lose sooner or later if he continues this.
Being overconfident is somewhat related to greediness because both of them give the same result to the gambler and that is an imminent loss 
.For me, a gambler who has a plan when to stop whether he is winning or losing is the best gambler. This just mean that he can control himself and he has plans to do whenever he won X amount of money and if he losses. Person making big bets are really greedy but this scenario is the greediest that I've seen. Started from $100 and have 24 ETH but he chooses to gamble and another one is he has 30 ETH and he didn't stop there and chooses to gamble more hoping that he will earn more money
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I think some gamblers might have the illusion that it is easy to win money from the casino when they are on a lucky streak, but I also believe there will be times when the gamblers run out of luck and that is the moment everything starts to goes badly for them. Without any self control, the gamblers will simply lose all of their money back to the casino within one day.
Because they are gamblers and betting on the edge is what gambling is all about. If you make them win big they'll be more daring in because they'll think they're lucky.
They'll also have a bigger margin of error having more money in their wallets so they'll still be able to lose 50% without blinking an eye, regardless of whether that 50% is $50 or $50k.
They'll also have a bigger margin of error having more money in their wallets so they'll still be able to lose 50% without blinking an eye, regardless of whether that 50% is $50 or $50k.
Over confidence is another reason why the gamblers lose all the money in one go. A sensible gambler will never lose money all at once. He will play slowly and steadily. When you see a person making big bets, the reason is that he is playing with emotions and greed, and he will lose sooner or later if he continues this.
This is what we must prevent to happen and we must learn hot to get this kind of thing out of our mind.
Because they are gamblers and betting on the edge is what gambling is all about. If you make them win big they'll be more daring in because they'll think they're lucky.
They'll also have a bigger margin of error having more money in their wallets so they'll still be able to lose 50% without blinking an eye, regardless of whether that 50% is $50 or $50k.
They'll also have a bigger margin of error having more money in their wallets so they'll still be able to lose 50% without blinking an eye, regardless of whether that 50% is $50 or $50k.
Over confidence is another reason why the gamblers lose all the money in one go. A sensible gambler will never lose money all at once. He will play slowly and steadily. When you see a person making big bets, the reason is that he is playing with emotions and greed, and he will lose sooner or later if he continues this.
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