Topic: Why most gamblers can never hold onto big bag? - page 4. (Read 1862 times)

There are two things that cause a person to lose a lot of money on one betting opportunity and that is:

• High self confidence.
• Bet with strategy

High self confidence, A gambler must have high self-confidence and more often known as the courage to bet. IMO If you bet a large amount of your money on one bet, then you will also have the chance to get a higher win. Big wins are for those who bet big amounts.

Bet with strategy, Gambling strategy is intended to get a higher chance of winning than without strategy. Martingale or other types of strategies are also a cause of great losses like this because you have to entrust your money to the strategy you play if you want to win.

I would not say these gamblers are the arrogant gambler category, but they can be said to be brave gamblers. Whether he wins or loses depends on his luck.

a greedy gambler does.

it sucks to hear about your friend's loss but it is common for an undisciplined gambler to become cocky or greedy(and your friend is one of them) when they are on a winning streak and that is one of the biggest flaws of an undisciplined gambler. gamblers who have patience, control and discipline would never lose all that in one day. that is why you have to stay cool and composed especially when you are on a winning streak.

Mostly but there are still gamblers who would stop at the certain limit that they have set once they've win it. Just like me, I don't set too much expectation and amount to win. Learning from the experience of other gamblers is suitable for those who don't want to do the same mistake.

It actually does teach a lot of lessons when you were able to go through this situation.

In fact, if people understand everything but continue to consciously play (I exclude of course the case of painful dependence), then there is nothing wrong with that. It’s just a waste of money on entertainment, just like spending money on a movie or going to a restaurant. You pay (lose money) but in return get the service you are interested in.

Most of us probably would stop at making like 1 ethereum, let alone reach to 30 ethereum levels, all in all this person knows their limits and tested it and failed, now at least they learned something. I had something similar back in the day, not as big as him obviously because I am not that rich at all, but it was the same idea with the amount I had so it works out pretty similar.

I had a certain amount of money I earned from somewhere that I could have used very well, but it was from a casino so they put it on my account and instead of withdrawing like a smart person I gambled with it instead and earned more than 6 months of salary for me, and I lost it all of it. It really teaches you to be more careful about gambling and never had similar problem ever again.

I can add just one more thing, it's a difference between trading and gambling in this specific moments. In trading you need to spend some time while you set up trade orders, not too much of course, but it's a lot more than you need to raise bets and make another few spins on any slot for example, couple seconds to decide your next bet on roulette. Just a point that in gambling everything happens faster, and when you get into a fire mode you can spend a lot of money and lose everything or win a lot!

I think that money cannot be handled by everyone and fore some of them when they win some big money instead of following the basic principles to move away and not to bet further then greed overtakes them and they play more considering they can win more and many times you might end up losing lot of many. Also if people can invest rightly this winning amount can multiply in coming years and can make them more wealthy as well.

For me I think if I ever win something SO big that I have never seen in my bank account before, then I might have a different reaction,,, however if it is a few hundred or even a thousand, I would still try to win more. And this is exactly what happened to me several times anyway. But I promise if I win jackpot lottery, I will keep most of it, after buying house and paying off all loans.

He is excited in the money he won and he does not know how to handle it and this is dangerous, not knowing what to do and how to control himself and this case is not isolated, it can happen to anyone and mostly to newbies at their early stage of playing.

This is a known fact, casinos know that if you were using your money directly when you are betting you are going to be discouraged to bet your money because you are going to think of the consequences of it and what you could do with it, but if you are using chips things change and people feel more at ease to bet that money because they do not see it as money anymore which is why in any casino around the world you're going to be forced to exchange your money for chips if you want to bet at that casino.

and Regret of being greedy 

Imagine that he had already Big winnings and he accumulate for months but in just 1 day he spent all and turn back to zero?

This person is totally Greed and addicted ,he will never win in any gambling that he may attended because he cannot even reserve some amount for another day,He will always be a LOSER.

Hopefully you can win so you can prove to yourself if you can really follow your plan.

Actually mate, just like a regular gambler, we all do planning before we gamble, but sometimes we loss control, instead of following it, we do the opposite because our emotion has taken over our head, that's why discipline is very important, but you'll not gonna master that easily, it will take time a lot of experience to learn and mature as a gambler.

As the saying goes, if ifs and ans were pots and pans (there'd be no work for tinkers' hands)

Long story short, it doesn't work like that. The rational decision making requires time and conscious effort. But when we have no time, we have to react fast on the spur of the moment. Naturally, that means relying on our instincts and automatic responses. Needless to say, more often than not this leads to wrong decisions and suboptimal choices resulting in losses

It goes well beyond things like gambling and trading, and it is a very serious issue. For example, pilots are trained to discard their impulses and follow the flight indicators, but they still default to their feelings in cases of extreme emergencies. There is no way to override this system once it takes control, which happens when we become overwhelmed with fear or greed

There is a saying that goes "regret comes in the end".. that's probably what his friend is feeling after he lose all his winnings.
If you can see the future, you'd probably do the right things all the time, but this is part of being a gambler man, once you learn from your mistake, you'll sure mature.

Your friend better they do is to save the other coins they win on playing in the whole months I amazed because from such amount they grow it very big and I think lesson learned to him is to control his self for the time they play again.

If I get that amount of money or win huge from my capital I will keep it safe the others and I will withdraw it and I will play the rest because once your money is in the gambling wallet by time goes by you play you did not notice that is all gone because you are busy to get a target.

I can't imagine his face before & after he won a big money and suddenly lost everything he had in his pocket. I think he bet a lot since he started to play gambling, so he managed to win a lot and lose a lot in an instant. I guess your friend had a great experience in gambling activities. I never won as much as he did but I still manage to broke up when I know that I can't control myself even it's losing or winning. I don't want to risk many as I can knowing that I might regret all my losses in the end. I'm happy to gambling just for fun.

I think that our subconscious voice is always wrong but we never take notes of what happens during a gameplay session or a trading decision.If we do I am think that sooner rather than later we will start to stop listening to this voice which would be translated in not losing big amounts of money anymore.

This is called recency bias

And it is a serious issue not only with gambling but with trading too, which is, to tell the truth, not very far from gambling (at least, for the majority of traders). Our brain is wired in such a way that we intuitively consider most recent events and circumstances as most important and significant, failing to see the bigger picture. In general, this is a good strategy overall, but it can play nasty tricks with our decision-making machinery

So we start to win and our subconscious tells us that this will go on. Most people base their decisions not on strict logic and rational considerations but rather on their so-called gut feelings, the voice of the subconscious. No surprise they end up losing their profits, whether it is gambling or trading. In fact, we are all vulnerable and susceptible to this illusion

I like how you said it, hit & run strategy never dies! Only one thing is sure here, we all learn and build experience over time, how to make profit and most of all how to keep the profit and not lose it all. I had many similar gambling nights, where I get into good profit and in desire to make more, with feeling that I am on roll and that I can win much more, I rise bets and after some time I simply go to zero!
The same will happen again to me, I am sure, when I get carried away I can do something stupid again. It's gambling after all and we play for excitement, it's easy to get blinded by big wins, desire to win even more, we can't run away from that, at least some of us!

That was not good news to your friend who really loves to play gambling, most of the people today would like to play gambling because of the lockdown most of them now cannot make it to the gambling casino but luckily we have now gambling online and one of this platform is the stake.com, I think your friend does not have enough capability to win all of his games this is base on my conclusion only. In gambling you must need to become knowledgeable you must need have a lot of ideas, information and knowledge to make a better decision in gambling let's say he already has that and win some of his games and now he is facing some problematic actions while playing he must need to do some critical thinking to avoid getting lost as a gambler we must need that, now even he lost already it is better to make a list of conclusion why does he lose on the game by that you can make an idea what are your mistakes so soon you can avoid this again. It is better also if we keep monitoring our profit and losses because by that we keep aware on our selves that we already lose a lot of money and we can now stop for the meantime to avoid continuously losing sometimes there is a term called "momentum" in gambling if you lose this you can not make focus on your games and having a loose steak now.