Why most gamblers can never hold onto big bag? - page 7.

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Quote from: matchi2011 on April 27, 2020, 08:40:26 AM

Quote from: Hippocrypto on April 27, 2020, 06:23:36 AM

Quote from: stadus on April 27, 2020, 06:14:06 AM

Can you specify what's the exchange rate of ETH at that moment?

You mentioned your friend started at $100 usd and manage to have a balance of 24 ETH, so we can't tell if that amount is big enough already that would make him stop as you don't mentioned on your post. If we based on the current price or let's say we will price 1 ETH at $150, then your friend would have cash out $3600 if he have stop.

but like the famous song, don't count your money while you are still on the table, there's a lot of counting time after you gamble.
It means you only win if you made a profit when you stop.

In an addicted person, that difficult to advice them to stop on the usual habbits. They don't even think about what future might bring, if there's money then it'll have to be spent and didn't even bother losing it with gambling. Once a winning profit comes, they'll become unstoppable and more aggressive.

That aggressiveness control the tempo so instead of quitting they choose to continue and try much harder, thinking that they will continue to win more and not being bothered that luck may passed them out and the next thing to happen is losing everything again.
Addicted gamblers don't have the right mentality in terms of when to quit and how to take advantages of certain situations, they are only care of keep pushing forward.

Yea, but that is typical nistake many gamblers do. After they lose big time they think the next bet will be the wining one and they will cover complete loss and make profit above that. That is, of course, wrong and in most cases only takes them even deeper into loss.
Such a feeling that every next time will be win takes you over so easy and if you don't have enough selfcontrol you are lost.

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Quote from: Kemarit on April 26, 2020, 06:34:08 PM

Quote from: RapTarX on April 25, 2020, 09:25:44 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?

At the height of my gambling addiction, I had the same experience with your friend, although I played on a land based casino that time. My initial fund was the same around $100 and in less than 30 minutes makes in 10x, but I still didn't stop until I got busted. Played the next day, got another huge win, this time I go home and take a rest. The next day goes and wanted more, but eventually lost. I will say that average gamblers won't go that route, but for those addicted like me back then, it is really hard to control.

What's interesting and sad at the same time is that none of us is immune to the temporary addiction(let me call it that way). Even if we are not problem gamblers and we can easily stop playing in most cases, it happens from time to time that we become addicted for a day or two. A possible solution would be to not keep more than you can afford to lose on a gambling site, and to think about whether we already lost the amount allocated for gambling before depositing again.

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Quote from: Hippocrypto on April 27, 2020, 06:23:36 AM

Quote from: stadus on April 27, 2020, 06:14:06 AM

Can you specify what's the exchange rate of ETH at that moment?

You mentioned your friend started at $100 usd and manage to have a balance of 24 ETH, so we can't tell if that amount is big enough already that would make him stop as you don't mentioned on your post. If we based on the current price or let's say we will price 1 ETH at $150, then your friend would have cash out $3600 if he have stop.

but like the famous song, don't count your money while you are still on the table, there's a lot of counting time after you gamble.
It means you only win if you made a profit when you stop.

In an addicted person, that difficult to advice them to stop on the usual habbits. They don't even think about what future might bring, if there's money then it'll have to be spent and didn't even bother losing it with gambling. Once a winning profit comes, they'll become unstoppable and more aggressive.

That aggressiveness control the tempo so instead of quitting they choose to continue and try much harder, thinking that they will continue to win more and not being bothered that luck may passed them out and the next thing to happen is losing everything again.
Addicted gamblers don't have the right mentality in terms of when to quit and how to take advantages of certain situations, they are only care of keep pushing forward.

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Quote from: Genemind on April 27, 2020, 07:00:05 AM

Gamblers are easily taken over by Greed, especially if they are having a good run. This happens to me a lot, I always push my luck to end, whenever I start losing I chase for my losses until I end up losing my profit or even ending a day with a negative. Turning a small amount of money up to that amount is really difficult, he must've spent a lot of hours playing. Just imagine how much time and possible profit he wasted because of greed. He should've learned his lesson the first time this occured.

As I keep talking about greediness, that we should avoid it it seems like it is very natural to every gambler. Pushing the limit of my luck is quite out of line but it is your decision what to make so you should be accountable for it, win or lose. There are times that being greedy will give you what you don't expect to have in gambling but that requires your luck to have a luck, most of the time greediness is what will keep us broke.
If you are having a good run on playing, try to have a limit when to quit it's not always good, not always christmas.

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Quote from: Hippocrypto on April 27, 2020, 06:23:36 AM

Quote from: stadus on April 27, 2020, 06:14:06 AM

Can you specify what's the exchange rate of ETH at that moment?

You mentioned your friend started at $100 usd and manage to have a balance of 24 ETH, so we can't tell if that amount is big enough already that would make him stop as you don't mentioned on your post. If we based on the current price or let's say we will price 1 ETH at $150, then your friend would have cash out $3600 if he have stop.

but like the famous song, don't count your money while you are still on the table, there's a lot of counting time after you gamble.
It means you only win if you made a profit when you stop.

In an addicted person, that difficult to advice them to stop on the usual habbits. They don't even think about what future might bring, if there's money then it'll have to be spent and didn't even bother losing it with gambling. Once a winning profit comes, they'll become unstoppable and more aggressive.

That addicted person will not think about stop gambling, especially if they already make a big win. They will try to continues playing gambling because they want to get another winning. We don't have to follow their step because we want to have a bright future if we can win big money, so we need to stop gambling as soon as possible after the big winning. After that, we can count how much money we have so we can make another plan with that money, and we will have the cash for another thing.

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Quote from: Oceat on April 26, 2020, 06:24:22 PM

Quote from: btc_angela on April 26, 2020, 06:09:54 PM

Quote from: RapTarX on April 25, 2020, 09:25:44 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?

It looks like your friend is addicted to gambling, so obviously, the answer is Yes.

Most addicted gamblers can't control themselves, their judgement is clouded and they always think that they can bring the house down and will continue to gamble until there's no money left with them. So it will be cyclical, there are days that his going to win big amount, but most likely the next day everything will be gone in a blink of an eye.

My question is does his friend wanted to enjoy gambling games or just wanna make some money from it? This question depends only on what does OP's friend wants but obviously his friend is really addicted to gambling because it can't seem to control the urge to lose everything in just one day. Perhaps OP should tell his friend to bring money only that he can afford to lose because you obviously know what will going to happen next.

Well if you have to read between the lines, he had at one point in time turn $100-> 24 ETH, if he is just enjoying the game then he would have exited and take that winning and enjoy. And then again, eh cross 30 ETH and lost. So obviously this guy what you call a classic definition of a pathological and addicted gambler, no question about it. He doesn't have the control or the mentality to quit when all those money in his wallet.

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Gamblers are easily taken over by Greed, especially if they are having a good run. This happens to me a lot, I always push my luck to end, whenever I start losing I chase for my losses until I end up losing my profit or even ending a day with a negative. Turning a small amount of money up to that amount is really difficult, he must've spent a lot of hours playing. Just imagine how much time and possible profit he wasted because of greed. He should've learned his lesson the first time this occured.

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Quote from: RapTarX on April 25, 2020, 09:25:44 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.

He made 24 eth just for 100 capital,and again managed to make 30 eth just from the bonus he received but yet losses everything in 1 day.

Quote from: RapTarX on April 25, 2020, 09:25:44 AM

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

in this point the only answer is Greed and not being contented,that 30 ethereum is Big enough if he only managed to control His eagerness to play more and more.this will be a best example for gamblers to learn that we cannot be a millionaire in one day so have limitation whenever we gamble.

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Quote from: stadus on April 27, 2020, 06:14:06 AM

Can you specify what's the exchange rate of ETH at that moment?

You mentioned your friend started at $100 usd and manage to have a balance of 24 ETH, so we can't tell if that amount is big enough already that would make him stop as you don't mentioned on your post. If we based on the current price or let's say we will price 1 ETH at $150, then your friend would have cash out $3600 if he have stop.

but like the famous song, don't count your money while you are still on the table, there's a lot of counting time after you gamble.
It means you only win if you made a profit when you stop.

In an addicted person, that difficult to advice them to stop on the usual habbits. They don't even think about what future might bring, if there's money then it'll have to be spent and didn't even bother losing it with gambling. Once a winning profit comes, they'll become unstoppable and more aggressive.

unknown-user

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That's more likely a gambler's mentality. A gambler would usually play despite of the fact that winning is not certain. Once an individual experienced winning, regardless of his losses, he would continue and urge to again experience 'that' experience. Only few gamblers are being able to save their winnings, most of the gamblers are again using their winnings to play and eventually it would consume more. It is a matter of discipline. If a gambler won't control his self, such scenario would be the outcome.

Quote from: swogerino on April 27, 2020, 02:58:09 AM

I think this happens to addicted gamblers and most of us are addicted up to a certain point.However winning like 30 ETH is a big amount of money if started out with a small amount.If I won that amount I would stop immediately and cash out 20 ETH and then I would have continued to play until I win more or I lost everything.

It is not as aeasy as it sounds. From how I understood gambling habit, the bigger your winnings are, the more you would play and engage your money in it. It can be associated with psychology, in particular with learned rewarding system. A habit perhaps, would be sustained through rewarding system, reward in this case is winnings, and the habit is playing more.

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Can you specify what's the exchange rate of ETH at that moment?

You mentioned your friend started at $100 usd and manage to have a balance of 24 ETH, so we can't tell if that amount is big enough already that would make him stop as you don't mentioned on your post. If we based on the current price or let's say we will price 1 ETH at $150, then your friend would have cash out $3600 if he have stop.

but like the famous song, don't count your money while you are still on the table, there's a lot of counting time after you gamble.
It means you only win if you made a profit when you stop.

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I personally believe it's because most gamblers are looking to win life-changing amounts of money.

Although turning $100 into 30 ETH (approx $6,000) is definitely a great win, $6,000 is certainly not a life-changing amount for most people.

Even in the poorest countries, $6,000 is only around a year or so salary.

I see it often, people bet their leftover salary (disposable income) in the hopes of winning enough to money to live on comfortably for a significant period of time. Unless these people successfully get this, then they're unlikely to stop gambling.

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Quote from: swogerino on April 27, 2020, 02:58:09 AM

I think this happens to addicted gamblers and most of us are addicted up to a certain point.However winning like 30 ETH is a big amount of money if started out with a small amount.If I won that amount I would stop immediately and cash out 20 ETH and then I would have continued to play until I win more or I lost everything.

It is essential for people to know difference the need and desire. Everyone wants to make lost of money from gambling but we also know some facts about it and should be reasonable enough to know that if we have some decent amount we should not become more greedy and quit and take money and only from the profits made if still want to continue can be done upto a certain %. But have seen people not only losing those profits but later on the money played with initial capital is also lost inspite of winning big amounts at some point of time.

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I think this happens to addicted gamblers and most of us are addicted up to a certain point.However winning like 30 ETH is a big amount of money if started out with a small amount.If I won that amount I would stop immediately and cash out 20 ETH and then I would have continued to play until I win more or I lost everything.

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Perhaps, your friend is taking all the risk in order to win huge amount and also to quite lost it in just one day, I've experienced playing in some gambling sites and earned some, not too big. But when I am getting excited, I tend to bet all in. That is when I could lose every amount of funds I won. So the lesson here is to not always see the positive side of winning, we can earn but we should not be complacent to always win. In the first place we think of gambling as a risk, in that way, there is a huge possibility of us to lose.

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i think this is pretty normal for most gamblers includes me . building balance can take a long way and take some patience but suddenly you will go in a state that you wana play again ( this time with huge balance ) and suddenly you will just carried away and gamble all what you got . i dont know what the science behind this but it just happen . you will only notice it once all are gone . then you are going to repeat the same mistake again and again , this sucks but i think we should find a way to combat this asap

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Quote from: Sadlife on April 27, 2020, 12:07:07 AM

He must be increasing the bets per roll and has a high odd percentage so he can earn faster and bigger with each bet but it's risky strategy especially when you're using autobet feature like in most dice games. He should have put a stop loss especially when the rolls is not doing good and in a lose streak. But even if he's in a win streak he should always have an exit point to not get rekt.

I guess that is what he did because he lost everything in one day. He doesn't quit gambling when he can have those balances, but because he has greedy, that attracts him to have a passion for winning more and more. Using the autobet is not be a problem as long as we can manage how long the dice should run, and we should stop if we think it is enough to use the auto. Sometimes, when we can get a winning streak, we want to make another winning so that it can lead us to get the other losses.

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He must be increasing the bets per roll and has a high odd percentage so he can earn faster and bigger with each bet but it's risky strategy especially when you're using autobet feature like in most dice games. He should have put a stop loss especially when the rolls is not doing good and in a lose streak. But even if he's in a win streak he should always have an exit point to not get rekt.

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Quote from: Oceat on April 26, 2020, 06:24:22 PM

My question is does his friend wanted to enjoy gambling games or just wanna make some money from it?

I assume his friend didn't enjoy the gambling games but trying to dream earning more money from gambling. If he just enjoyed the games and not obsessed with winning and bigger amount of money, I bet he won't lose all their money one day only. That's a learning for all of us to not obsessed with winning and better to think realistically. Once you think to force yourself to win more, then it is the beginning of you for more losses. Cheesy

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Quote from: RapTarX on April 25, 2020, 09:25:44 AM

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

Most of the gamblers are losing money everyday but the scenario that happened to your friend is one of a kind Cheesy

.

He started at $100 and then he made 24 ETH on it and then suddenly lost it all and another one is he made 30 ETH and the same thing happened. How come he lost everything? He has been eaten by greediness. That is one thing for sure because if he knows how to quit, he may have stopped gambling at the time he reaches that amount of money. I will stopped immediately if I reached that amount because it is a very huge money already and he started at just $100. You're friend is addicted to gambling already that's for sure.

Topic: Why most gamblers can never hold onto big bag? - page 7. (Read 1916 times)