Why most gamblers can never hold onto big bag?

[JohnBitCo]

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.

[YOSHIE]

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.

[blockman]

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.

[yazher]

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.

[kryptqnick]

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.

[plvbob0070]

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.

[ethereumhunter]

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.

[BitcoinsGreat]

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.

[Betwrong]

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://bitcointalk.org/index.php?topic=5242283.0

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.

[mersal]

Probability of winning bets is low on most of the casino games which literally means you are going to lose more bets so even if you won huge amount in winning bets it will keep roll back to the house itself by multiple losing bets.If someone wants to hold and enjoy their profits needs to control their greed and have to satisfy with what they made from gambling.

[LbtalkL]

It is such a big and sad loss, Wasted a chance to get a large amount of money, 30 ETH now is more or less 5820 USD it is big money. Maybe greed comes on his way, thinking of getting a bigger amount and it ends in a tragedy. It happens for the second time maybe for the 3rd time he already learned his lesson. If he's your friend advise him for the better. He goes for a high risk high reward, sometimes it pays off sometimes not. If I was on his shoes maybe I would withdraw 50 to 80 % of it.

[cabron]

Been watching some bets in dice and since it's very transparent I can see some gamblers aim too much that they bet  >5, I don't know if I would do such thing but there are gamblers who do that. Less chance of winning if you bet >10 even more when you do the >5. But it makes sense if he aimed to win really big though.

[20kevin20]

It is such a big and sad loss, Wasted a chance to get a large amount of money, 30 ETH now is more or less 5820 USD it is big money. Maybe greed comes on his way, thinking of getting a bigger amount and it ends in a tragedy. It happens for the second time maybe for the 3rd time he already learned his lesson. If he's your friend advise him for the better. He goes for a high risk high reward, sometimes it pays off sometimes not. If I was on his shoes maybe I would withdraw 50 to 80 % of it.

Money goes just as fast as it comes when you're gambling. If the dude would've earned 60ETH from 30, he would have continued to play with it hoping to get even more. You just don't know when to stop and the adrenaline makes it even worse. It's so easy to say what should've been done when the session is already over, but it isn't as easy to make the perfect bets when you're in the middle of it.

[Oilacris]

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?

Do you really believe that gambling do always win?If we do talk about poker and other strategy type of games then it do have chance but
talking about dice? Nah. you will surely bust up your entire balance in shortest time as possible and this is why gambling industry is a very
profitable one because of this kind of behavior of most gamblers.

Gamblers mindset wont really be that kind being contented on what they have won.Their mindset that they should play and they might
able to hit up some wins again.

[Chrystora123]

he managed to cross 30 ETH within less than a month but yesterday, he lost everything once again.

30 ETH is not a small amount, I personally have never won with this amount..  Your friend is really on a bad day, if I become your friend then I will pause and continue playing tomorrow..

How come he lost everything one day?

I think it's because he is too confident (will win more on that day). "confidence" when gambling is important but "being too confident" won't work, you will only lose everything in the next few rounds..

[BITCOIN4X]

30 ETH is not a small amount, I personally have never won with this amount.

His consistency while playing has made him have 30 ETH in less than 30 days and didnt get it on one occasion. 

I am sure everyone really wants a victory that is greater than what he already has. When this desire can not be dammed, then someone will be very close to the wrong decision that will make it as someone who has bad luck. The desire to get a bigger victory when there is a lot of balance may be common for gamblers, but not infrequently they will also end up without anything as the OP said. Therefore, valuing what we get today is something we must do, big wins are desires that we dont necessarily get. Stop for a moment and rest.

[erep]

Therefore, valuing what we get today is something we must do, big wins are desires that we dont necessarily get. Stop for a moment and rest.

Good quote, gamblers should consider the quote above so they don't lose everything before regretting. The biggest win in gambling is when you can control yourself against the desire not to keep playing after you win.

[ShowOff]

-snip-

It is true, there is a tremendous urge to continue playing when we have good financial strength and unfortunately this desire is the gate where we will get destroyed.

Gambling is a decision and any risk must get good tolerance from the players. Its not good to blame a situation where we cant win something bigger, every decision we make is what we think is right and I think not all gamblers have the same thought and almost all gamblers feel disappointed when the results they get are not what they want.

The biggest win in gambling is when you can control yourself against the desire not to keep playing after you win.

Only a few people can do it, the rest will lose control. I think

[Becky666]

<snip>

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

Oh, another greedy fellow who fell again. This is a clear symptom of greediness on the part of the gambler, anyone of then who don't take profit whenever signs are clearly shown during gambling will surely loss their winnings to platforms{gambling}. He or she{Victim} wanted to make more huge profits before he signs out but unfortunately he ran into Waterloo in the process. Stop be greedy gamblers; this has affected 95% of gamblers to loss when they supposed to win and be happy. As I have said, many lost inline with this gambler actions and many are still on their way to their loose if not repent from be greedy.

[aakashsangwan]

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?

Most of the gamblers always chase their losses. They try to win back what they lost in the same go inorder to break even.in this process they loose all of their bankroll in a single run.
But in reality what they should do is that they should accept defeat and call it a day, go out have a beer and then come back if they wish to gamble as this changes your mind and gives you a fresh stsrt.