Winning Wisely: Strategies to Protect Your Bankroll - page 15.

Wapfika

hero member

Activity: 1288

Merit: 564

Bitcoin makes the world go 🔃

Quote from: raybucks on October 09, 2023, 05:56:59 AM

When luck isn't on your side, consider an immediate pause to prevent further losses

This will really save a lot of money from gambler if they will apply this. I observed that many gambler is indeed losing due to not being patient and chasing the huge win even though they are not lucky with their current bet result.

I was a victim of this too when I have consistent lose streak while I’m doing martingale strategy. I keep chasing and chasing until my bankroll deplete then my last roll using a penny bet makes it a win which will be a huge profit if I still have a bankroll to cover my strategy. My whole bankroll will be safe if Just didn’t push my luck to the limit and just pause for the day.

Oshosondy

legendary

Activity: 1624

Merit: 1200

Gamble responsibly

Quote from: raybucks on October 09, 2023, 05:56:59 AM

When luck isn't on your side, consider an immediate pause to prevent further losses.

If you have won too, it is good to stop gambling because the day that has been going good could be ended in losses.

Quote from: raybucks on October 09, 2023, 05:56:59 AM

Don't push your luck beyond the maximum acceptable losing streak. Waiting too long often results in significant losses.

Yes this is the time to lose more. Some people will become very emotional and lose all their money in bank or on a wallet.

What I did that has been so helpful is the gambling budget that I set which is 5% or less of my weekly income. It has been helping and the reason I have been reiterating it on this forum.

Hatchy

sr. member

Activity: 336

Merit: 365

The Alliance Of Bitcointalk Translators - ENG>PID

Another one of same repeated topics here in gambling section. I think a lot of users keep spamming this board with repeated topics.

Nevertheless, all the points mentioned above are essential guidelines to follow when entering the world of betting. Luck, managing risks, practicing self-control, setting limits on your bets, and avoiding addiction all play vital roles in betting or gambling. It's important not to rely solely on winning because there are no guarantees, and this is where luck becomes a factor.

raybucks

jr. member

Activity: 102

Merit: 1

I have created a pdf of this rule for me which I am sharing with you. I hope you find it useful.

Maintain a sensible approach. Avoid chasing excessive profits that could lead to a complete loss.
Remember that not losing is often more advantageous than risking it all.

When luck isn't on your side, consider an immediate pause to prevent further losses.
It's crucial to recognize that consistent daily profits are unlikely. Don't jeopardize your entire balance just to chase them.
Understand that all games involve an element of randomness, making it wise to cease betting after securing a win within a range of acceptable losses.
Don't push your luck beyond the maximum acceptable losing streak. Waiting too long often results in significant losses.
For instance, if you're playing a game with a 3x payout, the safe losing streak might be 18, and the maximum losing streak might be 24. If you experience a losing streak exceeding the safe limit, followed by a win, consider stopping your bets.
Be aware that extended losing streaks tend to get worse, and it's challenging to predict when they'll surpass the maximum threshold.
Avoid waiting for a substantial payoff after a prolonged losing streak. Cut your losses before they deplete your bankroll. It's likely that bets close to a quarter of your balance will lead to losses most of the time.
Adjust your bet sizes to ensure that one or two wins can recover more than your previous losses. Avoid excessive greed.
Recognize that the house often aims to lure you away from your strategy, leading you into their designed plan to deplete your funds quickly.

Act promptly if your emotions start influencing your decisions. Both excessive fear and greed pose significant risks.

Topic: Winning Wisely: Strategies to Protect Your Bankroll - page 15. (Read 2021 times)