Should I try to win back my loss?

[Prettymie]

I have around 500 000 bets placed on FJ
It was a matter of time when this would happen ( placed a lot of bets on not Martingale, so it already happened a lot of times, just not with Martingale)

I got 16 losses in a row
Starting with bet 0.000001BTC
And last bet was 0.03BTC
Counting a 0.06BTC loss total



Now, my question is, should I try to win it back?

I have a total bank of around 1.6BTC on my disposal

Odds of me losing those 16 bets in a row were 0.00179%
Somewhere around 1 to 60 000

Now, if I place a 0.06BTC there's a 50.5% chance I'll lose
If I lose, I place a 0.12BTC bet,  0.505*0.505= 25.5% chance I'll lose
If I lose, I place a 0.24BTC bet, 0,255025*0,505= 12.88% chance
If I lose, I place a 0.48BTC bet, 0,128787625*0,505= 6.5% chance I'll lose

If I lose, I have a total loss of 0.48+0.24+0.12+0.06 (+0.03) = 0.9BTC (+0.03)

Is it worth it?
Should I cut my losses o.o

Odds of me losing 20 bets in a row should be 1 : 860 000
Which, with me having 500k bets, doesn't sound very good

I've been gambling for how many years and I always want to win back the money that I lost but this technique didn't help me at all as we will become greedy in this situation and instead of winning back what we've lost, we are only adding it.
What I have learned from gambling is learn to accept our loses and win back it next time. We have different techniques on how we are going to win so in the end, you will be the one to decide your action.

[ipanks]

Obviously, You have to keep trying to back your loss, if you can't make any effort then how can you wish your loss back. every success comes from making effort and getting determined. so try your level best and get attached in order to make a profit through creating opportunity.

Its not, because if you are chasing with the amount you loss ypu will keep on pushing yourself to focus with that without thinking a good ways to make money. It is better to play again without chasing the money you've loss.

maybe he can try to win back his loss but he needs to have some rules for him so he is not losing more money. but for information, there is really difficult to win back our money because the house always wins the money. the second is we don't have any chance to get our money back and only loss much of money again.

[Zero_Cloo]

If you're eventually going to gamble that money anyway, you might as well.

Your theoretical loss is house edge * volume, regardless of how that volume goes in. One BTC0.5 bet is no different than 500 BTC0.001 bets, from a mathematical perspective. Maybe there's a difference in how much fun you get out of them, but most people enjoy big bets more than little ones anyway.

[bitcoinisbest]

If you're eventually going to gamble that money anyway, you might as well.

Your theoretical loss is house edge * volume, regardless of how that volume goes in. One BTC0.5 bet is no different than 500 BTC0.001 bets, from a mathematical perspective. Maybe there's a difference in how much fun you get out of them, but most people enjoy big bets more than little ones anyway.

Its the house edge that will never let you win and its obvious as well because they exists to make profits and not to donate money to people. Its the people who need to understand that will they be winning or will they be giving the money to somebody else. If you play so that you can enjoy the fun and the time and then lose it should be fine as they entertained you.

[serjent05]

If you're eventually going to gamble that money anyway, you might as well.

Your theoretical loss is house edge * volume, regardless of how that volume goes in. One BTC0.5 bet is no different than 500 BTC0.001 bets, from a mathematical perspective. Maybe there's a difference in how much fun you get out of them, but most people enjoy big bets more than little ones anyway.

Its the house edge that will never let you win and its obvious as well because they exists to make profits and not to donate money to people. Its the people who need to understand that will they be winning or will they be giving the money to somebody else. If you play so that you can enjoy the fun and the time and then lose it should be fine as they entertained you.

I do agree that house edge favors the owner but it is too minimal to affect the result in just a short period of time.  We should learn how to control our game time because in a prolonged games, house edge definitely gives the casino more chance of winning, so whenever we have won something no matter how big or small it is, we should quit to book that winnings.  And if ever we lost, never chase loses since it is proven that chasing it will cause us more damage than that initial lose.

[South Park]

In gambling theory, trying to win back after loses is desperately used by the gambling addict, because if you are in good thinking you can choose to escape and back if the negativity of your body were lost. Sometimes we can't win because there's a lot of negative vibes to our body due to stressed in our life. So I think it's better if we lost it first before playing.

Otherwise, if you feel that your not lucky in the games, I suggest to stopped and back on the next day. Because if you continue playing there's a possibility of instead of earning income, more loses you will gain.

It's a different story when you are in the game. Sometimes you forgot everything because of excitement. You tend to skip your meals, your chores at home, and sometimes you start to ignore people in your phone because of gambling.

But you have a point there, if you are negative, you'll have a hard time winning and if you lose, it feels like everything is falling. That is why it is better to atleast have a break in between games when you feel that you are not lucky, go out.

If anyone does that despite the fact how funny can be sounded skipping meals for gambling, he/she has very serious problems and needs psychologist as soon as possible because it's even out from abnormality. Gambling is gambling, not a profit machine or source. Game is for fun so is gambling but if anyone wishes to profit and thinks he/she is better than anyone, let's do it but don't cry when you try ro win back loses. Good luck everyone, don't go in deep..

I do not know about that, to me he is just describing a very common occurrence the fact that when you are having fun time seems to move at a faster speed, so a gambler may have so much fun that he forgets the amount of time he has spend gambling, the only issue with that is that the longer you gamble the more money you are going to lose.

[Hhampuz]

Now, if I place a 0.06BTC there's a 50.5% chance I'll lose
If I lose, I place a 0.12BTC bet,  0.505*0.505= 25.5% chance I'll lose
If I lose, I place a 0.24BTC bet, 0,255025*0,505= 12.88% chance
If I lose, I place a 0.48BTC bet, 0,128787625*0,505= 6.5% chance I'll lose

If I lose, I have a total loss of 0.48+0.24+0.12+0.06 (+0.03) = 0.9BTC (+0.03)

Is it worth it?
Should I cut my losses o.o

Odds of me losing 20 bets in a row should be 1 : 860 000
Which, with me having 500k bets, doesn't sound very good

Hello iluvbitcoins,

Sorry for not reading the whole thread, but it seems like you got yourself trapped into the gambler's fallacy.
https://en.wikipedia.org/wiki/Gambler%27s_fallacy

The gambler's fallacy, also known as the Monte Carlo fallacy or the fallacy of the maturity of chances, is the belief that, if something happens more frequently than normal during some period, it will happen less frequently in the future, or that, if something happens less frequently than normal during some period, it will happen more frequently in the future (presumably as a means of balancing nature).

We humans, we need balance for stability. When some event happens, we believe it will somehow behave to make it right.
On the roulette wheel, it should be red and black alternating each spin, in a perfect world.

However things don't work that way.
You can look at probabilities (like your list of bets to place to make yourself whole) and be enticed to act.
But don't forget that each spin you take is ultimately a 50% chances to win roll.

The game don't care how much spins you've lost before.

IMO, this is dangerous to continue and you should stop your betting streak.
Just my 2 sats. Take care !

I think there's some issue to that as well as you probably know if you spin the roulette will 1 million times you'll get a certain % on each color and the next 1 million spins you make will end up being the same more or less. I agree that in a short term or small sample size chasing losses is a bad idea, but looking at the bigger picture and several thousands bets/rounds it can even out.

Now I use roulette as a sample as I'm not too informed on dice and how that works.. Either way I thought he should try and win back his losses, which he did, and he got it back .

[poplolnman]

In gambling theory, trying to win back after loses is desperately used by the gambling addict, because if you are in good thinking you can choose to escape and back if the negativity of your body were lost. Sometimes we can't win because there's a lot of negative vibes to our body due to stressed in our life. So I think it's better if we lost it first before playing.

Otherwise, if you feel that your not lucky in the games, I suggest to stopped and back on the next day. Because if you continue playing there's a possibility of instead of earning income, more loses you will gain.

first of all , better you take a look to op. so you might could make a pinpoint comment . he knows the risk and even make a calculation about how much his chance if chase the bets. however he failed to make it happen and instead keep chasing that and force himself he choose to do a wise action enough by accepting what he has lost and start a new one. give it a try it's okay but don't make it worse.

[BlockEye]

In gambling theory, trying to win back after loses is desperately used by the gambling addict, because if you are in good thinking you can choose to escape and back if the negativity of your body were lost. Sometimes we can't win because there's a lot of negative vibes to our body due to stressed in our life. So I think it's better if we lost it first before playing.

Otherwise, if you feel that your not lucky in the games, I suggest to stopped and back on the next day. Because if you continue playing there's a possibility of instead of earning income, more loses you will gain.

first of all , better you take a look to op. so you might could make a pinpoint comment . he knows the risk and even make a calculation about how much his chance if chase the bets. however he failed to make it happen and instead keep chasing that and force himself he choose to do a wise action enough by accepting what he has lost and start a new one. give it a try it's okay but don't make it worse.

There are still no successful story of gamblers who try to chase there winnings back, most of them failed on doing it so, so we better need to have some realization in lofe and try to weight things, maybe it's not just the money you lost but there's more, I sgop playing gambling regularly when I lose a lot, i realized i need to enjoy some of my winnings too, now I only play to have time while killing time too like if I'm waiting for appointments or some meetings.

[cryptoalfs76]

I have around 500 000 bets placed on FJ
It was a matter of time when this would happen ( placed a lot of bets on not Martingale, so it already happened a lot of times, just not with Martingale)

I got 16 losses in a row
Starting with bet 0.000001BTC
And last bet was 0.03BTC
Counting a 0.06BTC loss total



Now, my question is, should I try to win it back?

I have a total bank of around 1.6BTC on my disposal

Odds of me losing those 16 bets in a row were 0.00179%
Somewhere around 1 to 60 000

Now, if I place a 0.06BTC there's a 50.5% chance I'll lose
If I lose, I place a 0.12BTC bet,  0.505*0.505= 25.5% chance I'll lose
If I lose, I place a 0.24BTC bet, 0,255025*0,505= 12.88% chance
If I lose, I place a 0.48BTC bet, 0,128787625*0,505= 6.5% chance I'll lose

If I lose, I have a total loss of 0.48+0.24+0.12+0.06 (+0.03) = 0.9BTC (+0.03)

Is it worth it?
Should I cut my losses o.o

Odds of me losing 20 bets in a row should be 1 : 860 000
Which, with me having 500k bets, doesn't sound very good

Will,in my own  experience  in times i lost in poker or any kind of gambling games,i want to  win back my loss, because i have a motive  in my life that a winner never quits and  a quitter never win,because how can you gain winning if time you loss you surrender early.every time in our life is like a gamble  in order to success we must learn to survive to achieve our goal and that is the winning everytime, when we enter in gambling site games.

[South Park]

In gambling theory, trying to win back after loses is desperately used by the gambling addict, because if you are in good thinking you can choose to escape and back if the negativity of your body were lost. Sometimes we can't win because there's a lot of negative vibes to our body due to stressed in our life. So I think it's better if we lost it first before playing.

Otherwise, if you feel that your not lucky in the games, I suggest to stopped and back on the next day. Because if you continue playing there's a possibility of instead of earning income, more loses you will gain.

first of all , better you take a look to op. so you might could make a pinpoint comment . he knows the risk and even make a calculation about how much his chance if chase the bets. however he failed to make it happen and instead keep chasing that and force himself he choose to do a wise action enough by accepting what he has lost and start a new one. give it a try it's okay but don't make it worse.

There are still no successful story of gamblers who try to chase there winnings back, most of them failed on doing it so, so we better need to have some realization in lofe and try to weight things, maybe it's not just the money you lost but there's more, I sgop playing gambling regularly when I lose a lot, i realized i need to enjoy some of my winnings too, now I only play to have time while killing time too like if I'm waiting for appointments or some meetings.

And the reason for that is not only the house edge, but the fact that many times when people recover the money they have lost they decide to keep gambling instead of stopping and that makes them to lose money again and eventually their luck is going to run out and then they are unable to get that money back.

[Lionidas]

This is where mot gamblers end up in loss.
They think they will get back the money or in this case bitcoin back by putting in more and trying to rakeback what they just lost.
But they are playing with bad emotion and almost always lose everything at that point and get no where but go backwards as their losses tack on to what they were trying to collect from.

It is a vicious endless cycle unfortunately.

[bettingscores]

I have around 500 000 bets placed on FJ
It was a matter of time when this would happen ( placed a lot of bets on not Martingale, so it already happened a lot of times, just not with Martingale)

I got 16 losses in a row
Starting with bet 0.000001BTC
And last bet was 0.03BTC
Counting a 0.06BTC loss total

https://image.prntscr.com/image/4W3zryuQSn6M7apKis1Zig.png

Now, my question is, should I try to win it back?

I have a total bank of around 1.6BTC on my disposal

Odds of me losing those 16 bets in a row were 0.00179%
Somewhere around 1 to 60 000

Now, if I place a 0.06BTC there's a 50.5% chance I'll lose
If I lose, I place a 0.12BTC bet,  0.505*0.505= 25.5% chance I'll lose
If I lose, I place a 0.24BTC bet, 0,255025*0,505= 12.88% chance
If I lose, I place a 0.48BTC bet, 0,128787625*0,505= 6.5% chance I'll lose

If I lose, I have a total loss of 0.48+0.24+0.12+0.06 (+0.03) = 0.9BTC (+0.03)

Is it worth it?
Should I cut my losses o.o

Odds of me losing 20 bets in a row should be 1 : 860 000
Which, with me having 500k bets, doesn't sound very good

Nope stop betting, the way you are trying to earn money is not profitable, change the game or the way you are doing it.
Hope you could check any group for betting tips.

[Lionidas]

I have around 500 000 bets placed on FJ
It was a matter of time when this would happen ( placed a lot of bets on not Martingale, so it already happened a lot of times, just not with Martingale)

I got 16 losses in a row
Starting with bet 0.000001BTC
And last bet was 0.03BTC
Counting a 0.06BTC loss total



Now, my question is, should I try to win it back?

I have a total bank of around 1.6BTC on my disposal

Odds of me losing those 16 bets in a row were 0.00179%
Somewhere around 1 to 60 000

Now, if I place a 0.06BTC there's a 50.5% chance I'll lose
If I lose, I place a 0.12BTC bet,  0.505*0.505= 25.5% chance I'll lose
If I lose, I place a 0.24BTC bet, 0,255025*0,505= 12.88% chance
If I lose, I place a 0.48BTC bet, 0,128787625*0,505= 6.5% chance I'll lose

If I lose, I have a total loss of 0.48+0.24+0.12+0.06 (+0.03) = 0.9BTC (+0.03)

Is it worth it?
Should I cut my losses o.o

Odds of me losing 20 bets in a row should be 1 : 860 000
Which, with me having 500k bets, doesn't sound very good

Nope stop betting, the way you are trying to earn money is not profitable, change the game or the way you are doing it.
Hope you could check any group for betting tips.

As well martingale is not a way to bet if you have so many bets placed there.
It will never gain you profit as the odds are stacked against you and are in the houses favor.

You will not or ever profit doing this method.
As the user here suggested to you, try a different approach or go to a different site if this one is making you lose so much in the long run of all your betting with them.
Move on is the best advice and not to try to win it back at the same place.
You will continue to lose and dig yourself deeper and deeper into debt with them.

[xuan87]

Gambling is for fun not for you to after some profit, and the mindset of winning back the lose amount is a very dangerous mindset, it can make you into addicted, just forget about your lost, don't continue to play anymore

[South Park]

Gambling is for fun not for you to after some profit, and the mindset of winning back the lose amount is a very dangerous mindset, it can make you into addicted, just forget about your lost, don't continue to play anymore

This is the right advice but at the same time things are never that easily, this kind of behavior happens to all kind of people even those that are experimented in gambling, it is not rare for famous poker players to try to get their money back after they lose a hand of poker.

[Hhampuz]

Gambling is for fun not for you to after some profit, and the mindset of winning back the lose amount is a very dangerous mindset, it can make you into addicted, just forget about your lost, don't continue to play anymore

This is the right advice but at the same time things are never that easily, this kind of behavior happens to all kind of people even those that are experimented in gambling, it is not rare for famous poker players to try to get their money back after they lose a hand of poker.

Not sure I can agree that this is the right advice.. Gambling is for fun only? That makes no sense because you can play all gambling games for free with playmoney etc if you just want to play for fun. But that is not why we are gambling, it's not what we are after.. The rush of winning is what we are after.. We are degens .

[jamyr]

Not sure I can agree that this is the right advice.. Gambling is for fun only? That makes no sense because you can play all gambling games for free with playmoney etc if you just want to play for fun. But that is not why we are gambling, it's not what we are after.. The rush of winning is what we are after.. We are degens .

I couldn't have said it any better.

Although if I am on his shoes, and still have a few coins left to play with, I probably would bite my tongue and continue the martingale. But since I am not the one in his place, I would say call it a day and try again tomorrow or another day.

[ethereumhunter]

with the bitcoin price now is too expensive, I think you don't have to try to win back your loss because you don't have big chance to win again. if you are wise, you will do another way to win your money back and not to continue playing gambling. yes, I know that sometimes you can win your money but it is still difficult to win back your loss. so maybe you can think twice before you do it again.

[Hhampuz]

with the bitcoin price now is too expensive, I think you don't have to try to win back your loss because you don't have big chance to win again. if you are wise, you will do another way to win your money back and not to continue playing gambling. yes, I know that sometimes you can win your money but it is still difficult to win back your loss. so maybe you can think twice before you do it again.

Why would it matter what price bitcoin has to $ if you've always been betting with BTC? If you've gambled 0.01 BTC you have gambled 0.01 BTC and not the $ amount at the time of the gamble.. no?

Although I can understand and agree that starting over rather than chasing losses it is what it is .