Why most gamblers can never hold onto big bag? - page 9.

Betwrong

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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?

Can't say about most of the gamblers, but definitely not all of them lose everything they won. Here's a recent example of a guy winning big and spending a big part of it on useful things right away:

https://bitcointalksearch.org/topic/this-guy-gambles-and-wins-a-total-amount-of-400000-and-quits-while-ahead-5242283

I myself lost on many sites all my previous winnings there, but those were amounts from $20 to $50, the amounts I could afford to lose at the time, although not without bitter regret in some cases. But when I won $500 once($1.3k at the current BTC price), I immediately withdrew $470, leaving $30 on the site to play later(took me around a year to lose it eventually).

From my experience, it's pointless to say a guy who won big to withdraw all the money and never gamble again. What is more realistic is to withdraw 90% of it, and leave 10% to gamble with. Thus they will find themselves in win-win situation: if they won big again that would be great of course, but if they'd lose, they'd be happy about risking only 10% of their initial big win.

BitcoinsGreat

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Quote from: YOSHIE on April 26, 2020, 06:16:47 AM

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?

Your friend is the most unlucky person, why doesn't he stop when he gets 30 ETH in two stages of his victory, he's really bad luck.

If you are a gambler you got to overcome your habit of greediness. Most of the gamblers lose their earned money only because of their greediness. If the OP was not so greedy, he would have been enjoying 30 eth as it is not a small amount.

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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?

If your friend can manage a balance of big money, but finally, he loses all of that, he should learn about how to manage his funds. I guess he uses that all of the balance to place another bet, which is not recommended to do, especially if he can win so much money. Maybe you can suggest he stop gambling after he wins that money because his passion will be bigger than before, so that can make him play another game. The gamblers will lose their win money if they still try to play more games because he will want to get another winning. But I don't know about that.

plvbob0070

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Quote from: GDragon on April 25, 2020, 09:38:59 PM

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.

That's why I think it's much safer to stop gambling after winning enough on a single day. Then you can just try your luck again the other day, rather than pushing all of your luck. Winning is not a thing that can always happen to us. So if I already won a certain amount, I always try to stop for that day because if I don't, I might end up losing everything. Although sometimes I also feel greedy that I will still bet even if I already won, but not to the point I will bet all of my money again.

It's really hard to control your gambling limits when you are having so much fun. Especially when you win something, it's common to be more greedy. But we still need to think critically that it's not always like that. Luck is not always at our side.

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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?

I think it's a typical situation with gamblers. The problem, in my opinion, is a psychological one. Namely, if you're winning, it's hard to let go at the right moment, withdraw and enjoy yourself. Instead, if you're winning and winning, it seems that you should cherish the moment and get the most of it. It's not the losses that motivate people to keep going, some say. It's the occasional wins that bring joy and make one feel like another win is just around the corner. I am not saying it's something impossible to control since sometimes people manage to win and leave the casino, but it must be a difficult thing to do, especially if you're a regular gambler. You can walk away today, but it doesn't mean you won't come back and lose a lot tomorrow.

yazher

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Not too long ago, someone has asked if betting double will get you a high chance to get back what you've lost. I guess your best friend proves that wrong cause it didn't work at all. because I believe, why he lost that big amount in a single day is betting double after double to regain back what he had lost but he didn't succeed. Maybe a good time to take a rest for good because from 20 ETH now he loses even bigger. who knows what he might lose next time.

blockman

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Quote from: RapTarX on April 25, 2020, 10:58:54 AM

Quote from: blockman on April 25, 2020, 10:30:10 AM

That's a sad story. Have you asked your friend how did he ended up losing all of it within a day?

I don't know, nor I did ask. He used to share me his winnings and balance all the time. Yesterday, he lost everything, at a row. It's really sad. It was a huge amount, losing such a fund within one day is a big one. I never did such gamble at a row, never won such huge amount nor lost.

We have the same feeling and if it happens to me, I'd definitely feel bad and sad if I lost most of the winnings that I've got within the long run that I've been winning.
I don't gamble with that kind of style but your friend must be thinking of something that pushed him to let it lose easily.

YOSHIE

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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?

Your friend is the most unlucky person, why doesn't he stop when he gets 30 ETH in two stages of his victory, he's really bad luck.

Gambling is always accompanied by greed that cannot be separated from gambling addicts, ambition, greed and emotional.
I also have a friend's fate like your friend, but he lost a new car in his purchase, the car was obtained from gambling also within a period of 1 month, only 1 day he could drive the car, that day also immediately changed hands to other people, gambling was really heartbreaking.

Anyone can gamble or understand anything in the field of the game that you want to play.
The important thing is to control yourself, relax, control excessive emotions.

JohnBitCo

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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?

It look like that your friend has no proper plan on how to play gamble. He need to come out with a strategy on how much money to use in each game. If he keeps on wining and go all in most of games he can lose all the amount as he is doing now. Either play with the profit or play with seed money again and again, so that if you lose you only lose your profit or lose only seed money and not both.

Eugenar

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That is so sad, losing youthe money you received from your work is really so sad because it just wasted yout time and effort earning that kind of money, but I just want to know how he lost that kind of money in a single day, is he gets scammed by other people? Because 30 ETH is really big amount, is he tried some unsecured website snd he got scammed by it?
Always make sure to secure your money everytime because there are so many possibilities thst hackers and scammer will do something just to steal it from you.

Quote from: blockman on April 25, 2020, 10:30:10 AM

That's a sad story. Have you asked your friend how did he ended up losing all of it within a day? I guess it's another emotional scenario which he was triggered by the losses that he made and then didn't care anymore with the remaining profit that he made.
In short, he played YOLO.

That is also the question on my mine, that is so huge amount of money and it is really hard for the person who lost it.

maydna

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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?

It is a sad story from your friend. I guess he fails to manage his balance, so he lost everything two times. If he can know when he needs to stop gambling, especially if he can have more than 20 ETH, he must quit gambling no matter if he still wants to continue playing the games. But we don't know how he can lose everything in one day, but I guess that he is too greedy to chase the other win money, so he uses more amount to bet. I am not sure if most gamblers will have those experience because I see that will only happen to the gambler who cannot control themselves, and they always try to get another win money.

But perhaps, you can ask your friend how he lost the money so you will know the real story.

robelneo

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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?

Yes many gamblers lose this way I even know a guy who won twenty times of his bet only to come back the next to lose it, I ask him why he let it happens, he just answered he is trying his luck to extend his winnings from yesterday, he has no regret, considers it as natural and human to extend his winnings.

Many gambles just the hang of it, not about the money and this is very risky.

Haunebu

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A 54 ETH loss which is equivalent to around $10.5K is pretty big. He probably thought that luck was on his side all the way and decided to try and convert that amount into something bigger like $100K which is why he screwed up.

This is why you should always invest what you are willing to lose only. There are bigger losers out there. There was a gambler who literally lost millions to casinos in a short span of time.

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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?

Maybe he didn't had a good mindset. Dice in gambling depends only of pure luck and luck alone. He maybe lucky at some point yet nothing is permanent. Better if he must be disciplined that each and every time he lose, he stops. And every time he wins, he continues. And the bet he's giving remains the same and not betting more amount after winning. One thing is for sure why he loss that much, it is because he can't hold the satisfaction it gave him in his wins and eagerness to win.

aioc

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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 cannot handle his winnings properly, this is how newbie handle their winnings he thought he has a winning touch and will continue winning, it's too late to find out that every day is not Christmas day and he will eventually lose if he doesn't know how to control and how to plat properly in a game where luck plays a major factor.

CryptopreneurBrainboss

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

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, that's just what was causing your friend to lose all he got after wasting precious times paying to win those bet. Can you link me to that friend? I'll invest same $100 although I'll be monitoring the account and maybe after just winning 10-15 ETH he just have to stop, withdraw some profit and maybe continue gambling to his satisfaction. Individuals easily gamble all available funds in their reach as they are never satisfied with what they have won so far and want to keep on playing until they get tired.

Gamblers especially the addict lose funds ever higher than that amount. One thing that make then feel they didn't lose anything is the fact they would use small amount of funds to gamble and win big and win they decide to gamble back with those funds+profit and losses, to then they only lost their capital since the profit wasn't their initial investment (capital) although that's a very wrong mindset.

Avirunes

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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?

Isn't this what we call gambling addiction. We win,then we lose and in order to recover the lost amount we once again lose it all and we keep on digging the hole further.

>>Don't play what you can't afford to lose. Isn't this what we say all the time. It's true, since in order to recover we always play in long run and we know how difficult it is in that.

kayvie

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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?

It's probably because of being greedy. It's possible that because he realized that he already had 30 eth, he feel so lucky that he can still continue winning, or it is also possible that he chase after his losses.

Yes, there's a lot of the same case as your friend or even more depends on the remainig money on their pocket.

Rosilito

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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?

Not trying to be a detective but may be he bet all of his assets? Or maybe he went lose streak then betting double after it? Though losing isn't uncommon in gambling world so maybe your friend went into sort of need-to-take-back-my-winnings guy so he go all unless he won back his money. Man, your friend needs an assistance, advice maybe won't do but you need to keep an eye on him else everything would be unfortunate to him in gambling world. To take note that he's already luck with his winning but he insist on playing once more, is already a sign of a bad habit. Something needs to reassess here, man.

NavI_027

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My God! You're friend is only having a taste of money then poof lol. So unfortunate for him Sad

. We all know that losing is normal but d*mn losing all you've got often is a toxic experience already.

I guess your friend does not know to exit that's why he always come to a point where his luck depletes. Also, maybe he also lose control on betting. Remember, larger bet means larger loss. I think you shoulf advice him to set his own limits and maintain control every time he gamble

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