5 Mental Responses That Will Make You Lose Money

[el kaka22]

We have to realize that we are mentally gambling, so we have to prepare our mind to win or lose. Thus, we are protected from psychological harm.

That psychological harm is what we place there for ourselves. A lot of people see gambling as a way they can be making consistent living (yeah, a lot of people say that in this forum), and when you think about how they have tuned their mentality to this direction, they have more like enslaved themselves into their own thoughts and when things are not working as they have assumed which obviously would not, then they try to find means to get out of that cage they have placed themselves, which by then it has already become something difficult to do.

[1715189822]

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[1715189822]

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[Roboabhishek]

That's true but the forum post didn't include Die hard greed and addiction towards gambling perspective.

When we get a pretty good streak and reach a very decent Bank, most times we make a dumb bet and lose a lot.

Took from the forum

This is the main reason why I've lost a lost of $$ when I was gambling in the past not being able to stop yourself and going for a small bet if lost then trying to recover it.
It recovery fails whole balance is gone.

It does include

Aversion to Loss & Raising Stakes

[Monnt]

I quite agree with the “ what goes up must come down” mentality because it’s one of the things that most consistent in the world and it doesn’t only apply to gambling but a lot of other scenarios as well.

That makes sense. Yes this mentality works out at every moment of life. Whatever field it is, what conditions are there, but still what goes up and to come down. This is how this world is running since the first day. Everything would see the best of its charm and shine and then it has to see the weird and worst of its other side. Gambling contains more coming down than going up.

[SushiMonster]

I quite agree with the “ what goes up must come down” mentality because it’s one of the things that most consistent in the world and it doesn’t only apply to gambling but a lot of other scenarios as well.

That makes sense. Yes this mentality works out at every moment of life. Whatever field it is, what conditions are there, but still what goes up and to come down. This is how this world is running since the first day. Everything would see the best of its charm and shine and then it has to see the weird and worst of its other side. Gambling contains more coming down than going up.

Not even in just gambling, just like you said. That's just how the world works and it is going to be fair. To make sure there is a balance in life. That's just how I see it.
Gambling is great but you need to have control of yourself and make sure you know what you are doing.

[BillCoin]

I quite agree with the “ what goes up must come down” mentality because it’s one of the things that most consistent in the world and it doesn’t only apply to gambling but a lot of other scenarios as well.

That makes sense. Yes this mentality works out at every moment of life. Whatever field it is, what conditions are there, but still what goes up and to come down. This is how this world is running since the first day. Everything would see the best of its charm and shine and then it has to see the weird and worst of its other side. Gambling contains more coming down than going up.

Yes, but OP is talking about the mental affect of losing money, which leads the gambler to lose more money, and sometimes for even losing more money they he can afford to lose.

Psychologically, the result of a gambling bet affect the person's mind, a winning result may make him feel like he has something that other gamblers don't have and it makes his self confident to go up, this thing is dangerous because it usually makes him keep betting, and even if he loses the bet he may think that it was due to being very unlucky and that it won't happen again.

[wuvdoll]

I think one of the most common reasons why people lose money, is because they think they can beat the house. These sites have

a house edge for a reason. Your chances of winning something increase with every percentage that the house edge is lower than

the previous sites you gambled on. So you will have to compare gambling sites based on their house edge to increase your odds on

winning something. Gamble for FUN and you will lose nothing, because you would have spend that money on other entertainment

in any way. Do you lose money when you pay for a movie?

You are not wrong bro, but I always wonder whether they think the house edge is there for charity purpose for them to think that way. The main essence of the house edge is to make money at the detriment of those who are greedy enough to be looking for what they cannot find in gambling.

Personally, I expect people to always see gambling as a way to pay to have fun which you can be lucky to win something in the process if your luck deemed it fit, but people usually do not always get it.

[fullhdpixel]

I believe that by increasing the bet it is the most wrong thing, which means losing a lot of money, gambling will greatly make your patience very tested, especially in the mind, do not expect to win if his patience is uncontrollable or very emotional to earn more money not with clear mind.

There is no patience in the mind because the gamblers are always greedy and they want to win more and more, and thus they lose all their money. A gambler will never be mentally relaxed rather he wins or loses. When he wins, he wants to win more and when he loses he wants to win back his lost money and thus the result is tension mental distortion.

Greed of more money is the ultimate reason which makes gambler an addict. And definitely, when he is earning some money from gambling without putting many efforts then how can he leave gambling because other works need a lot of efforts and after doing a lot of hard work you get your money. So the gamblers can’t show patience because they are earning easily from it.

[BitSat]

I quite agree with the “ what goes up must come down” mentality because it’s one of the things that most consistent in the world and it doesn’t only apply to gambling but a lot of other scenarios as well.

That makes sense. Yes this mentality works out at every moment of life. Whatever field it is, what conditions are there, but still what goes up and to come down. This is how this world is running since the first day. Everything would see the best of its charm and shine and then it has to see the weird and worst of its other side. Gambling contains more coming down than going up.

Not even in just gambling, just like you said. That's just how the world works and it is going to be fair. To make sure there is a balance in life. That's just how I see it.
Gambling is great but you need to have control of yourself and make sure you know what you are doing.

Gambling is great but as you said its need control which is difficult in many cases some time peoples react very quickly after lost and try to recover which is more danger because in this case mostly we lost more then we expect its happen to myself many times now trying to avoid this all which is good but if you trying again then you are going to lost again

[Kevin77]

I believe a better explanation to this is summed up in what you give you receive. The universe only gives you what you think, so if you go to a casino and think oh well I'm gonna loose but let's try chances are you'll loose. However if you go in with this affirmation today I'll win and I'm in the winning league then you see it'll happen. Give out positive affirmations and it'll work like a charm.

That is the main mentality that makes a lot of people always end up losing big and not just losing big but getting addicted. I understand that you need to apply the law of attraction if you are really looking forward to win, but if you apply just that, then you are going to be heading yourself for destruction.

It is always important to always apply the law of reality as well, knowing that the chances of losing is still high irrespective of how much you really wish you win as this would help you keep your mental and emotional check balance.

[aencarnaci]

I think that the main reasons are:
* gambler forgets that this is not a way to earn money, it's a way to spend time in a nice way.
* gambler tries to "recover loss"
* gambler believes that a winning scheme he has read about really works

That first one is basically the main thing that is applicable to almost every gambler based on most of the things I have always read on this forum and that my bro is one thing that is worrying. As long as they have that first wrong mentality, there is no way the remaining two will not always come to play ?

The fact that they ended up thinking they will win no matter what since they want to earn from gambling will make them to keep pushing themselves more even while losing so much and hence subject them to trying to recover losses and trying t find better ways to want to win their money back as they end up losing everything.

I am also of the opinion that gamblers’ minds must be filled with false hopes of becoming rich or else why would be they this much desperate that betting home and family members also appears nothing to them. They are after money and money is very addictive. A person who loves money does not even love himself. Gambling basically triggers greed and laziness in player.

[iluvbitcoins]

The raising stakes one is definitely one a lot of people fall victim to. I have even been a victim myself numerous times over the year, e.g. I'll just keep doubling up until eventually I win.... Until I get an unlucky streak and lose a lot of money. People need to understand statistics, they assume that they are the only score that matters, when in reality they are part of a cohort of people which constitutes the average. Just because extraordinary events seem unlikely to a single person, across a cohort it is quite possible, and the more times you double up, the more chance you're going to get screwed.

I agree this one is the worst of all.

All the others make you lose your bank, but this one makes you get a mortgage and gamble your house away in the belief you're going to break even.

I've lost almost a BTC with this 

[Virtual miner]

I think that the main reasons are:
* gambler forgets that this is not a way to earn money, it's a way to spend time in a nice way.
* gambler tries to "recover loss"
* gambler believes that a winning scheme he has read about really works

That first one is basically the main thing that is applicable to almost every gambler based on most of the things I have always read on this forum and that my bro is one thing that is worrying. As long as they have that first wrong mentality, there is no way the remaining two will not always come to play ?

The fact that they ended up thinking they will win no matter what since they want to earn from gambling will make them to keep pushing themselves more even while losing so much and hence subject them to trying to recover losses and trying t find better ways to want to win their money back as they end up losing everything.

I am also of the opinion that gamblers’ minds must be filled with false hopes of becoming rich or else why would be they this much desperate that betting home and family members also appears nothing to them. They are after money and money is very addictive. A person who loves money does not even love himself. Gambling basically triggers greed and laziness in player.

According to me the main causes are:
1. Ego: I've seen this be the downfall of what otherwise may have been a good professional gambler. Until you have won 10 million or more gambling, check the ego at the door. If you have reached this level of success than why the need for the ego
2. Emotions: This one is key. You must not let the highs and lows affect you. If you cannot do this than you need to find another profession.
3. Focus: If you are distracted with other activities, people, family or problems you will not be able to give gambling the attention it requires
4. It’s not about one big win: For an average person, their idea of gambling is the thrill of getting one big win, so much so that they don’t care if the odds are not in their favor. This makes them lose.
5. Confidence: If you are not confident in your ability to make a substantial amount of money out of gambling then you may as well give up before you even start.

[Biscutard]

1 – Aversion to Loss

2. False Expert Belief

3. What Goes Up Must Come Down

4. Raising Stakes

5. Bandwagon Effect


https://degenbet.com/5-mental-responses-will-make-lose-money/

Some of it will cause you to lose your money but some of it can be used to gain a good profit. It is just you have to take the responsibility to believe on what do you invested instead of believing to some negative stuff which can cause you to become a weak hand holders and will tend you to lose all of your money.

[Barbut]

Sometimes you will win and sometimes you will lose, that is gambling. You can`t win if you don`t lose first, who ever gamble knows that .You need to gamble and gamble and when you lose to not get in those mentioned state if mind, if you do then you will make bad decisions, like going all in in hope that you will win something big. Most of us been there, and maybe every gambler needs to pass trough that stage.

[gowobonyok]

1. nervous
2. too eager and never willing to be patient
3. small capital, and often feel worried
4. rash, no analysis and moment estimates, just referring to luck only
5. always think that victory will come and will have fun.

[doomloop]

1 – Aversion to Loss

2. False Expert Belief

3. What Goes Up Must Come Down

4. Raising Stakes

5. Bandwagon Effect


https://degenbet.com/5-mental-responses-will-make-lose-money/

Some of it will cause you to lose your money but some of it can be used to gain a good profit. It is just you have to take the responsibility to believe on what do you invested instead of believing to some negative stuff which can cause you to become a weak hand holders and will tend you to lose all of your money.

Out of these five factors that you have mentioned in your comment, I personally like the confidence and emotions because these two are the main factors which play role in leading the gambler to a win or a loss. However, remaining three are also important but I think they play a side role in gambling but without them, the script in not complete. If we talk about the most important one, I think that will be the confidence.

[henmark]

The raising stakes one is definitely one a lot of people fall victim to. I have even been a victim myself numerous times over the year, e.g. I'll just keep doubling up until eventually I win.... Until I get an unlucky streak and lose a lot of money. People need to understand statistics, they assume that they are the only score that matters, when in reality they are part of a cohort of people which constitutes the average. Just because extraordinary events seem unlikely to a single person, across a cohort it is quite possible, and the more times you double up, the more chance you're going to get screwed.

I agree this one is the worst of all.

All the others make you lose your bank, but this one makes you get a mortgage and gamble your house away in the belief you're going to break even.

I've lost almost a BTC with this 

Your mind plays a key role when it comes to that of the making of money as it is your mind which can help you in making some better decisions and that without using your mind efficiently, it gets very much difficult for you to handle the situation in the best possible way and that you need to do the things in a way which can then help you in having some better results. Do not over stress yourself and that stay active all the time.

[yvesp110]

1 – Aversion to Loss

2. False Expert Belief

3. What Goes Up Must Come Down

4. Raising Stakes

5. Bandwagon Effect


https://degenbet.com/5-mental-responses-will-make-lose-money/

Some of it will cause you to lose your money but some of it can be used to gain a good profit. It is just you have to take the responsibility to believe on what do you invested instead of believing to some negative stuff which can cause you to become a weak hand holders and will tend you to lose all of your money.

Out of these five factors that you have mentioned in your comment, I personally like the confidence and emotions because these two are the main factors which play role in leading the gambler to a win or a loss. However, remaining three are also important but I think they play a side role in gambling but without them, the script in not complete. If we talk about the most important one, I think that will be the confidence.

Exactly confidence and emotion play a vital role in winning or losing of a game not only in gambling but also in other games you usually play in your life because both play directly with the mind of the person who plays gambling that’s why if the person is very confident and no emotions are present in him in case of gaming, then there are more chances for him to win the game.

[qwertyup23]

I quite agree with the “ what goes up must come down” mentality because it’s one of the things that most consistent in the world and it doesn’t only apply to gambling but a lot of other scenarios as well.

That makes sense. Yes this mentality works out at every moment of life. Whatever field it is, what conditions are there, but still what goes up and to come down. This is how this world is running since the first day. Everything would see the best of its charm and shine and then it has to see the weird and worst of its other side. Gambling contains more coming down than going up.

Not even in just gambling, just like you said. That's just how the world works and it is going to be fair. To make sure there is a balance in life. That's just how I see it.
Gambling is great but you need to have control of yourself and make sure you know what you are doing.

In general, gambling creates this illusion wherein a person would continuously bet their resources regardless of the result. For example, if they win on a round they would continue gambling due to the thinking that they may win again on the next round. On the other hand, if they lost, they would still continue gambling due to the mindset of recovering back their losses- which ultimately makes their situation a lot worse.
Balance calls for the equilibrium among their decisions since they really need to control and to have self-discipline in order to know WHEN TO STOP gambling. This principle can also be used not just in gambling but in life also.

I believe a better explanation to this is summed up in what you give you receive. The universe only gives you what you think, so if you go to a casino and think oh well I'm gonna loose but let's try chances are you'll loose. However if you go in with this affirmation today I'll win and I'm in the winning league then you see it'll happen. Give out positive affirmations and it'll work like a charm.

That is the main mentality that makes a lot of people always end up losing big and not just losing big but getting addicted. I understand that you need to apply the law of attraction if you are really looking forward to win, but if you apply just that, then you are going to be heading yourself for destruction.

It is always important to always apply the law of reality as well, knowing that the chances of losing is still high irrespective of how much you really wish you win as this would help you keep your mental and emotional check balance.

Unfortunately, it is easier said than done. Most gamblers fail to realize and experience the reality behind their decisions whenever they gamble. Their mental capacity clouds their rational decision as they are stuck in this loop, hoping that gambling may help them financially but in reality- only makes their situation worse. People who experience such need to be supported and helped by relatives and family members so that he/she can cope from this dilemma.

[Blondy12]

I believe a better explanation to this is summed up in what you give you receive. The universe only gives you what you think, so if you go to a casino and think oh well I'm gonna loose but let's try chances are you'll loose. However if you go in with this affirmation today I'll win and I'm in the winning league then you see it'll happen. Give out positive affirmations and it'll work like a charm.

True mate. I believe that our ming is more powerful than our body. What our mind is thinking would definitely takes control of what will happen in the end. That is why if we do something big like if we want to go to a casino or even in online games, we should always think positive and always think that this is our lucky day. Positive thinking can help us with our strategy in life not just in gambling. I have been there and done that and honestly it really works for me.