Why most gamblers can never hold onto big bag?

[maydna]

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.

OP's friend did twice lesson from his losses, so we hope that he is not making the next mistake because he already made it before. If he cannot hold himself and say that is enough for him to playing gambling with the big winning, he must quit gambling right away. I agree that OP's friend could be obsessed to make bigger money from that game because he succeeded to make a large amount of winning. Unfortunately, the money was back to the house, and he is not making any money at all after his winning. It is hard to win, but it is easy to lose.

[Ailurophile]

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?

The reason why we should limit ourselves when we are gambling your friend already have a great profit but due to being greedy he loss it all.
I don't know why there are some who wouldn't take out their money once they already won in gambling it would only be a small transaction fee to do it.
If your friend have done that then I think he would still have a great profit on his hand not to mention the second time that he actually pull another huge profit.
The way I see it he believes in his gambling skill and wants to get more even if he already have a huge profit on his hands.

[deisik]

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

That's the nature of gambling and people enjoying this activity

In more mundane terms, the gambling folk in general are predisposed for and susceptible to losses as well as losing all in the end for two major reasons. First, they are not rational. Well, they can be quite rational people outside gambling but as far as gambling is concerned, they become irrational beyond what you would expect of those engaged in this activity. In other words, you wouldn't really expect a frugal and judicious person to gamble in the first place

Then, let's multiply that by the effect a win big produces, which seems to be the case you write about. When you win big time hitting what is known as lucky streak, you easily get carried away losing whatever self-control and discipline you might have (which you typically don't). As I said elsewhere, it is not losses as such that make you cry, but big wins which you fail to grab and run away with in time without looking back, ever (I've been there)

[Pffrt]

Addiction in gambling can barely give you a good return. It will make you lose everything. I have seen gambler in real life who made huge ton amount of money and lose that faster than they made it. The problem is being addicted to gambling, it makes you hungry when you win but that will make you poor. At the end, none if the gambler can make big amount, gambler mean who are addicted.

[judeafante]

Things like this happen in gambling the one thing that you should have control of in gambling is your emotion and your urge, after winning a huge amount of money there is a strong urge to come back because they believe in the saying that strike while the iron is hot but unfortunately it will not apply to gambling at all the time.

[dre1982]

Well I had the same before. Just win big in a short time and didn't stop on time or redeposit the winnings a day later and bust all.

To prevent that I am using paper wallets to where I transfer a part of the winnings. This prevents me to easily redeposit and I will keep a big part of my winnings.

[Btc_1856]

Well I had the same before. Just win big in a short time and didn't stop on time or redeposit the winnings a day later and bust all.

To prevent that I am using paper wallets to where I transfer a part of the winnings. This prevents me to easily redeposit and I will keep a big part of my winnings.

That is the best way we should manage our profits otherwise, we might spend that money again back to gambling. In gambling, we need not rush for money aim for a daily limit of gambling and it will surely help us to make some decent profit. I hope gambling is a risky one so we should be very careful because there is a higher chance to lose all our money.

[Distinctin]

To lose that amount isn't an unusual thing when you are not controlling your emotions.
And I feel he tries to recover his losses and probably doubled his bet for the sake but something unlucky to him and just lost everything he has.
He is really frustrated for sure and makes him out of his mind. If we all like him, nothing to expect a good result either but losses. It wasn't a good idea to double our bet and exceed our limits, that is why we should have to control ourself otherwise we got nothing in the end.

[ReiMomo]

The emotional issue may be the reason why your friend loss everything in a glance. Gamblers have a tendency of betting a higher amount when they won on the first round but will end up losing everything because it is also our nature to bounce back when we lose the first time. Some gamblers have the instinct to know if it is their lucky day or not and that instinct your friend doesn't have.

[Finestream]

The emotional issue may be the reason why your friend loss everything in a glance. Gamblers have a tendency of betting a higher amount when they won on the first round but will end up losing everything because it is also our nature to bounce back when we lose the first time. Some gamblers have the instinct to know if it is their lucky day or not and that instinct your friend doesn't have.

When they usually start at a small amount and win a big amount eventually, that kinda changes the mentality of a gambler, they could think gambling provides easy money and they'll only realize when they make a big mistake which is not knowing when to control themselves.

[Slow death]

we need to understand the personality of the person playing:

1 - Is an addict and greed

2 - Is very convinced (the type of person who thinks he always wins)

3 - Is naive or amateur

we have 3 options that can be analyzed. be it as it is very difficult for an addict to stop gambling, that's why I can assume that addiction and greed were the factors for this unfortunate event

[dre1982]

I think the most gamblers are losing big winning again is that it's all digital money.

You haven't seen the money so it's very abstract. Personally that's why I lose some big amounts before. I lost easily $1000 on dice and didn't care about that. If I would had that money here on the table I wouldnt even doubt about it to gamble that.

[peter0425]

we need to understand the personality of the person playing:

1 - Is an addict and greed

2 - Is very convinced (the type of person who thinks he always wins)

3 - Is naive or amateur

we have 3 options that can be analyzed. be it as it is very difficult for an addict to stop gambling, that's why I can assume that addiction and greed were the factors for this unfortunate event

Is the responsible gambler part of the 3rd personality?because i thing there are long time gambler but ( that we cannot consider as amateur) they are just visiting casinos just to have fun.

I think the most gamblers are losing big winning again is that it's all digital money.

You haven't seen the money so it's very abstract. Personally that's why I lose some big amounts before. I lost easily $1000 on dice and didn't care about that. If I would had that money here on the table I wouldnt even doubt about it to gamble that.

well i don't think thats the case because even in live casino if people are greed he can also lose Huge as this is already an attitude.

[imstillthebest]

The emotional issue may be the reason why your friend loss everything in a glance. Gamblers have a tendency of betting a higher amount when they won on the first round but will end up losing everything because it is also our nature to bounce back when we lose the first time. Some gamblers have the instinct to know if it is their lucky day or not and that instinct your friend doesn't have.

how was that possible to know if its your lucky day or not  ? that was cool if i have that skill but maybe they believe or look on signs which is  i think is only a co incident but one thing is for sure that the longer you play the more money you will loose   .  i mean playing contiously on the same  pattern because this happen to me also  but know i just take a break and change strat as much as i can to make the system confuse and its surprisingly working on me most of the times 

[bustabitsboy]

Constantly chasing loses kills most gamblers, the entire idea behind a casino is the house edge and once you start playing hundreds of hands or bets it starts to catch up

[Asha8609]

The reason for this is overconfidence on luck. And you know what? It's absolutely normal for gambling addicts. Look, we don't get a lot of winning streaks all the time. Psychologically, when we get a winning streak, we start to believe that it's a miracle which will continue.

The second reason is, psychology of self betrayal. How many times have you won big and then thought to double it and actually indeed did? Lots, at least me.

So, when I have made 0.1 btc from 0.001 btc and then successfully doubled it to 0.2 btc, and then when I would want to double it to 0.4 and if someone tells me to stop else I will lose, I will say "hey, you told me to stop at 0.1 too, but I doubled it right, so you shut up" and by this I start to gain overconfidence till the level I lose it all.

[michellee]

I think the most gamblers are losing big winning again is that it's all digital money.

You haven't seen the money so it's very abstract. Personally that's why I lose some big amounts before. I lost easily $1000 on dice and didn't care about that. If I would had that money here on the table I wouldnt even doubt about it to gamble that.

Losing $1,000 in dice would be the worst experience you have. I think many others have got the same experience as you, but we can avoid the same thing that we did if we can be careful while we are playing gambling. But I think it is easy to lose any amount of money than to win any amount of money because if we gamble, we will difficult to win.

[Questat]

I think the most gamblers are losing big winning again is that it's all digital money.

You haven't seen the money so it's very abstract. Personally that's why I lose some big amounts before. I lost easily $1000 on dice and didn't care about that. If I would had that money here on the table I wouldnt even doubt about it to gamble that.

Losing $1,000 in dice would be the worst experience you have. I think many others have got the same experience as you, but we can avoid the same thing that we did if we can be careful while we are playing gambling. But I think it is easy to lose any amount of money than to win any amount of money because if we gamble, we will difficult to win.

Losing $1000 could be a small amount for other gamblers, that's why we set our own limit as we have different capacity in gambling.
Some gamblers could even lose $100,000 in just one night, but life is normal for them as they have a lot of money to lose, limiting or gambling what you can afford to lose is always the best rules to follow, that way, we can avoid getting greedy, especially if we are in a losing situation.

[yazher]

Well I had the same before. Just win big in a short time and didn't stop on time or redeposit the winnings a day later and bust all.

To prevent that I am using paper wallets to where I transfer a part of the winnings. This prevents me to easily redeposit and I will keep a big part of my winnings.

I think this is how most gamblers are, from time to time there always some event that they won big time and didn't go home with that huge winning money. instead, they want to play more and bet double. this is the reason why many casinos are not closing because of this kind of dumbness. after they win big, they don't know how to use that money other than going back to gambling. so, instead of winning, they ended up returning that money to the place where they got it by losing all of it. to be used later to get another money from them.

[KTChampions]

I think the most gamblers are losing big winning again is that it's all digital money.

You haven't seen the money so it's very abstract. Personally that's why I lose some big amounts before. I lost easily $1000 on dice and didn't care about that. If I would had that money here on the table I wouldnt even doubt about it to gamble that.

That is why in any real casino, the game goes to the chips, not the money - people thus lose them with greater psychological ease. In the case of cryptocasino, I can assume that many major losses were made there with easy money - profit from airdrops, profit from bounty campaigns, etc.