Why most gamblers can never hold onto big bag?

[Hippocrypto]

Can you specify what's the exchange rate of ETH at that moment?

You mentioned your friend started at $100 usd and manage to have a balance of 24 ETH, so we can't tell if that amount is big enough already that would make him stop as you don't mentioned on your post. If we based on the current price or let's say we will price 1 ETH at $150, then your friend would have cash out $3600 if he have stop.

but like the famous song, don't count your money while you are still on the table, there's a lot of counting time after you gamble.
It means you only win if you made a profit when you stop.

In an addicted person, that difficult to advice them to stop on the usual habbits. They don't even think about what future might bring, if there's money then it'll have to be spent and didn't even bother losing it with gambling. Once a winning profit comes, they'll become unstoppable and more aggressive.

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[peter0425]

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.

He made 24 eth just for 100 capital,and again managed to make 30 eth just from the bonus he received but yet losses everything in 1 day.

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

in this point the only answer is Greed and not being contented,that 30 ethereum is Big enough if he only managed to control His eagerness to play more and more.this will be a best example for gamblers to learn that we cannot be a millionaire in one day so have limitation whenever we gamble.

[Genemind]

Gamblers are easily taken over by Greed, especially if they are having a good run. This happens to me a lot, I always push my luck to end, whenever I start losing I chase for my losses until I end up losing my profit or even ending a day with a negative. Turning a small amount of money up to that amount is really difficult, he must've spent a lot of hours playing. Just imagine how much time and possible profit he wasted because of greed. He should've learned his lesson the first time this occured.

[btc_angela]

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 looks like your friend is addicted to gambling, so obviously, the answer is Yes.

Most addicted gamblers can't control themselves, their judgement is clouded and they always think that they can bring the house down and will continue to gamble until there's no money left with them. So it will be cyclical, there are days that his going to win big amount, but most likely the next day everything will be gone in a blink of an eye.

My question is does his friend wanted to enjoy gambling games or just wanna make some money from it? This question depends only on what does OP's friend wants but obviously his friend is really addicted to gambling because it can't seem to control the urge to lose everything in just one day. Perhaps OP should tell his friend to bring money only that he can afford to lose because you obviously know what will going to happen next.

Well if you have to read between the lines, he had at one point in time turn $100-> 24 ETH, if he is just enjoying the game then he would have exited and take that winning and enjoy. And then again, eh cross 30 ETH and lost. So obviously this guy what you call a classic definition of a pathological and addicted gambler, no question about it. He doesn't have the control or the mentality to quit when all those money in his wallet.

[ethereumhunter]

Can you specify what's the exchange rate of ETH at that moment?

You mentioned your friend started at $100 usd and manage to have a balance of 24 ETH, so we can't tell if that amount is big enough already that would make him stop as you don't mentioned on your post. If we based on the current price or let's say we will price 1 ETH at $150, then your friend would have cash out $3600 if he have stop.

but like the famous song, don't count your money while you are still on the table, there's a lot of counting time after you gamble.
It means you only win if you made a profit when you stop.

In an addicted person, that difficult to advice them to stop on the usual habbits. They don't even think about what future might bring, if there's money then it'll have to be spent and didn't even bother losing it with gambling. Once a winning profit comes, they'll become unstoppable and more aggressive.

That addicted person will not think about stop gambling, especially if they already make a big win. They will try to continues playing gambling because they want to get another winning. We don't have to follow their step because we want to have a bright future if we can win big money, so we need to stop gambling as soon as possible after the big winning. After that, we can count how much money we have so we can make another plan with that money, and we will have the cash for another thing.

[Casdinyard]

Gamblers are easily taken over by Greed, especially if they are having a good run. This happens to me a lot, I always push my luck to end, whenever I start losing I chase for my losses until I end up losing my profit or even ending a day with a negative. Turning a small amount of money up to that amount is really difficult, he must've spent a lot of hours playing. Just imagine how much time and possible profit he wasted because of greed. He should've learned his lesson the first time this occured.

As I keep talking about greediness, that we should avoid it it seems like it is very natural to every gambler. Pushing the limit of my luck is quite out of line but it is your decision what to make so you should be accountable for it, win or lose. There are times that being greedy will give you what you don't expect to have in gambling but that requires your luck to have a luck, most of the time greediness is what will keep us broke.
If you are having a good run on playing, try to have a limit when to quit it's not always good, not always christmas.

[matchi2011]

Can you specify what's the exchange rate of ETH at that moment?

You mentioned your friend started at $100 usd and manage to have a balance of 24 ETH, so we can't tell if that amount is big enough already that would make him stop as you don't mentioned on your post. If we based on the current price or let's say we will price 1 ETH at $150, then your friend would have cash out $3600 if he have stop.

but like the famous song, don't count your money while you are still on the table, there's a lot of counting time after you gamble.
It means you only win if you made a profit when you stop.

In an addicted person, that difficult to advice them to stop on the usual habbits. They don't even think about what future might bring, if there's money then it'll have to be spent and didn't even bother losing it with gambling. Once a winning profit comes, they'll become unstoppable and more aggressive.

That aggressiveness control the tempo so instead of quitting they choose to continue and try much harder, thinking that they will continue to win more and not being bothered that luck may passed them out and the next thing to happen is losing everything again.
Addicted gamblers don't have the right mentality in terms of when to quit and how to take advantages of certain situations, they are only care of keep pushing forward.

[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?

At the height of my gambling addiction, I had the same experience with your friend, although I played on a land based casino that time. My initial fund was the same around $100 and in less than 30 minutes makes in 10x, but I still didn't stop until I got busted. Played the next day, got another huge win, this time I go home and take a rest. The next day goes and wanted more, but eventually lost. I will say that average gamblers won't go that route, but for those addicted like me back then, it is really hard to control.

What's interesting and sad at the same time is that none of us is immune to the temporary addiction(let me call it that way). Even if we are not problem gamblers and we can easily stop playing in most cases, it happens from time to time that we become addicted for a day or two. A possible solution would be to not keep more than you can afford to lose on a gambling site, and to think about whether we already lost the amount allocated for gambling before depositing again.

[bitbunnny]

Can you specify what's the exchange rate of ETH at that moment?

You mentioned your friend started at $100 usd and manage to have a balance of 24 ETH, so we can't tell if that amount is big enough already that would make him stop as you don't mentioned on your post. If we based on the current price or let's say we will price 1 ETH at $150, then your friend would have cash out $3600 if he have stop.

but like the famous song, don't count your money while you are still on the table, there's a lot of counting time after you gamble.
It means you only win if you made a profit when you stop.

In an addicted person, that difficult to advice them to stop on the usual habbits. They don't even think about what future might bring, if there's money then it'll have to be spent and didn't even bother losing it with gambling. Once a winning profit comes, they'll become unstoppable and more aggressive.

That aggressiveness control the tempo so instead of quitting they choose to continue and try much harder, thinking that they will continue to win more and not being bothered that luck may passed them out and the next thing to happen is losing everything again.
Addicted gamblers don't have the right mentality in terms of when to quit and how to take advantages of certain situations, they are only care of keep pushing forward.

Yea, but that is typical nistake many gamblers do. After they lose big time they think the next bet will be the wining one and they will cover complete loss and make profit above that. That is, of course, wrong and in most cases only takes them even deeper into loss.
Such a feeling that every next time will be win takes you over so easy and if you don't have enough selfcontrol you are lost.

[FanEagle]

Shouldn't it depend on how rich a person is? A very wealthy person could lose 30 eth and wouldn't even feel it, that would basically be his chump change for spending time during virus pandemic going around so they just stay at home and spend 30 eth a day to have fun, there are rich people who can afford to do that. However if you are not rich and 30 eth is a lot of money to you, and you still gamble it away, that is greed.

Now some people might say, when is the line? That person made 100 dollars into 24 eth, he started losing at 24 eth, and ended up at zero, how could he have known 24 eth would be the end, how could he have known 25 wouldn't happen, if he stopped at 20 eth that would be less because he missed out on 4 extra, so where do you know when to stop. Well the answer is when you start losing, do not stop at 20, do not even stop at 24, stop when your 24 becomes 20.

[Captain Corporate]

 I personally have a limit for how much I lose and how much I win. I put in a set amount of money to play, and if thats over I do not play anymore, the money I deposit is the money I will play that session, if thats gone I will not play anymore at all. The other side is if I made x2 of what I deposited, I will stop, I will withdraw the half that I played for another day and just stop for that day.

 With this method if I lose I lose what I know I would lose, if I win x2, that means 2 more days of playing like that, it really just gives me a great chance, I will never make x30 profit in gambling ever, I know that and I know there is a chance of me making that much money and I am missing out on that, however there is also no chance to lose that much neither so it works out for the better.

[KTChampions]

To be honest, this story does not seem real to me. To rise to such a significant amount from a small rate twice ... this rarely happens.
But if this is true, then the explanation is simple: this is a standard event with easy money. Easy come, easy go. Apparently he did not take this win seriously, so he easily lost it.

[Asuspawer09]

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?

That's a big loss in just a day, Maybe he lost track of it, I guess he has goals to multiple his investments in gambling every day and his trying hard always to get that goal and that end up losing all of his funds.

Maybe he might easily save that money if he could control his emotion or be discipline if he put a goal to reach daily he might just put a limit on how much he could only lose daily to avoid this. But we can't really blame him gambling was always risky and depend on luck for sure he's already aware of that

[imstillthebest]

 its nice to see that someone can make that huge sums in a just a simple dice game . when i play dice i can never get so far because if i do  i will only loose  so i stop once i hit twice or thrice streak  .

100 usd is not a verry small fund to most of us but it might be small to him so why does he dont stop when he already earnt alot  ?  earning big profit from small capital is something that i will treasure so i avoid to loose it because i put alot of hard work and effort to pull that plus its not something that i can do most of the time

[Bezobraznike]

To be honest, this story does not seem real to me. To rise to such a significant amount from a small rate twice ... this rarely happens.
But if this is true, then the explanation is simple: this is a standard event with easy money. Easy come, easy go. Apparently he did not take this win seriously, so he easily lost it.

   This story is on the border between reality and fiction, I agree with you about that KTCChampions. It's not
impossible for some people to make a lot of money with gambling, and in wish to make more, like they have
a lucky row they risk more and more until they lose everything. I think that happened to everyone who gamble,
to win something and lose everything after some time.
   I have similar stories from my early days of gambling, with not with so big amounts. This story is extraordinary
because a lot of money is involved, but situation as it is happens to every gambler once in a while.

[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?

It looks like your friend is addicted to gambling, so obviously, the answer is Yes.

Most addicted gamblers can't control themselves, their judgement is clouded and they always think that they can bring the house down and will continue to gamble until there's no money left with them. So it will be cyclical, there are days that his going to win big amount, but most likely the next day everything will be gone in a blink of an eye.

My question is does his friend wanted to enjoy gambling games or just wanna make some money from it? This question depends only on what does OP's friend wants but obviously his friend is really addicted to gambling because it can't seem to control the urge to lose everything in just one day. Perhaps OP should tell his friend to bring money only that he can afford to lose because you obviously know what will going to happen next.

Well if you have to read between the lines, he had at one point in time turn $100-> 24 ETH, if he is just enjoying the game then he would have exited and take that winning and enjoy. And then again, eh cross 30 ETH and lost. So obviously this guy what you call a classic definition of a pathological and addicted gambler, no question about it. He doesn't have the control or the mentality to quit when all those money in his wallet.

We can read lots of experiences that is just similar to this where they havent able to quit when they are making money until they bust it all.
We do only read a few about people who do able to get out and buy up important things into their gambling winnings and thats how the reality works
into this industry.

Its common imho for people to commit the same mistake and when they do realize that they dont have nothing left then thats the time they would
stop which is totally wrong and should've done it earlier if they are really trying to seek out for profits.

[dothebeats]

Unfortunately, your friend doesn't have control which is common among gambling folks anyway, not that it's something special.

If I win such a huge amount, I would immediately withdraw and do some baby dips every now and then. I never chased losses with such a huge amount. Instead, I call it a day and play next week, or few weeks after that, just so I won't think of the losses I have incurred that will trigger me to bet insanely without regards to my current bankroll.

True story or not, we know that these things happen on the daily, and there's a thing or two that we can pick up from here.

[Google+]

Unfortunately, your friend doesn't have control which is common among gambling folks anyway, not that it's something special.

If I win such a huge amount, I would immediately withdraw and do some baby dips every now and then. I never chased losses with such a huge amount. Instead, I call it a day and play next week, or few weeks after that, just so I won't think of the losses I have incurred that will trigger me to bet insanely without regards to my current bankroll.

True story or not, we know that these things happen on the daily, and there's a thing or two that we can pick up from here.

well I often do as much as possible if my capital to gamble has returned then I will immediately make a withdrawal and use the proceeds from gambling profits to gamble again so that the capital I use is safe and gambling without using personal money. because usually more severe website creator will provide a secret feature where he can find out the most balance and can immediately to provide any means to drain his balance by making himself lose.

[Sativanaka]

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?

Did he was using martingala? If he was using it, losing it all is pretty common.

[Oceat]

My question is does his friend wanted to enjoy gambling games or just wanna make some money from it?

I assume his friend didn't enjoy the gambling games but trying to dream earning more money from gambling. If he just enjoyed the games and not obsessed with winning and bigger amount of money, I bet he won't lose all their money one day only. That's a learning for all of us to not obsessed with winning and better to think realistically. Once you think to force yourself to win more, then it is the beginning of you for more losses.  

That's what I've been thinking too since no one could lose their whole hard earned money in just a single day. Sadly, OP's friend might have to learn the hard way of giving a value of what we do have and thinking that they could just earn an easy money on a single day too. Gambling is designed to take money from their player slowly since it is just a business.