Why most gamblers can never hold onto big bag?

[hahay]

No wonder I feel, even in the past I also experienced events like this and the thing that I realized after having a lot of money from the many wins that have been achieved is that I feel I will easily win the bet until I finally have the courage to take bigger risks, Of course big odds and big bets are the main choices every time I bet, but in the end that arrogance led me to bankruptcy. So the reason for cases like this is about not having control and enormous greed that will certainly make us feel arrogant.

[DarkDays]

No wonder I feel, even in the past I also experienced events like this and the thing that I realized after having a lot of money from the many wins that have been achieved is that I feel I will easily win the bet until I finally have the courage to take bigger risks, Of course big odds and big bets are the main choices every time I bet, but in the end that arrogance led me to bankruptcy. So the reason for cases like this is about not having control and enormous greed that will certainly make us feel arrogant.

Normally big risks = low chance of winning the bet.

Does that mean that you typically play low odds bets, which should mean you don't win very often right?

Overall, I think people that play a lot of small bets are more likely to be in the hole than those that make a few big bets. That's just how probability works. You move closer to the expected distribution with the more bets you place.

[stomachgrowls]

No wonder I feel, even in the past I also experienced events like this and the thing that I realized after having a lot of money from the many wins that have been achieved is that I feel I will easily win the bet until I finally have the courage to take bigger risks, Of course big odds and big bets are the main choices every time I bet, but in the end that arrogance led me to bankruptcy. So the reason for cases like this is about not having control and enormous greed that will certainly make us feel arrogant.

Regret do always come in the end which is always the thing that commonly happen because people would only realize things when they have encounter some experiences which made them think that they have
might able to win big if they have completely stop midway or to those times that they've been hitting big.

Greed is really hard to resist which is totally been always a part of being a human where these motives will just eventually come out when we are dealing with money.

Gambling industry is vast and a very profitable business because of this kind of mistake on where most people do commit.

[Maslate]

Gambling industry is vast and a very profitable business because of this kind of mistake on where most people do commit.

Most people? I think not, I believe only few really commits mistakes and majority are just enjoying although they risk a big amount of money.
Gambling business does not want people to get greedy because that will affect their future, if the government sees a growing problem related on gambling, then for sure they'll ban gambling just like other countries do, so a healthy gamblers would help the business industry to have a healthy future as well.

[kawetsriyanto]

~ snip ~

It seems you know very well how gambling works, bro. 
Yeah, you are right. But as people always play again and again the gambling games, it means they agree with it. Even they realize that commonly they win a big amount of money after losing a bigger amount of money, but they still gamble there. If we analyze with financial or economic calculations, we are probably always losing but some people consider the entertainment that is priceless.

[vella85]

It all comes down to self control and not get greedy like a lot of gamblers do, I myself have done this in the past where I was able to build up a nice amount of Bitcoin with one sportsbook but got greedy and bet it all on one game and lost the bet. If I had of stuck to my strategy I would of been sitting a my bankroll less the 1% I normally bet on games. I have now learnt my lesson and only bet 1% of my bankroll on each game and stick with it. Bankroll management is also very important and I think not a lot of gamblers use this when gambling, set limits and stick to them.

[panganib999]

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?

Not all gamblers do fall at the same way because there are ways a gambler can avoid losing all of his winnings by just one day. Maybe your friend have a problem on his budget management because if he minds the amount he bets, he would not fall to loose all of his winnings in just one day. Having such amount of ETH is already that big to loose in just a day. If he managed his money well, the amount of assets he have in hand can be spent for days and not just for one day. He can do also have a chance to win more than what he have if he just take a better look of his playing behavior and management of his budget well. Strategic intervention must be done for a gambler to avoid loosing all he have won for days of playing in just a day because such experience is awful for a gambler earning those and just loose it like a bubble.

[seleme]

Unfortunately, your friend just becomes lucky, the story has a title: Newbie luck. 
From $100 to 24 ETH is not hard with correct money management and luck, your friend should learn when to turn off the pc before starting the same cycle again. Big lessons have a cost, hit and run strategy never dies.

[adzino]

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?

Because of greed? There are people out there that were able to make profit and never return to gambling. But, yeah, the number of those people are actually low.
Most gamblers does lose money in such a way. They play for weeks to build up profit, and boom! They lose everything in just few bets. This is because the house always has an edge and in the long run, it is the casino that will always win.
You make profit, you leave the casino with your profit to never return.

[Assface16678]

That was not good news to your friend who really loves to play gambling, most of the people today would like to play gambling because of the lockdown most of them now cannot make it to the gambling casino but luckily we have now gambling online and one of this platform is the stake.com, I think your friend does not have enough capability to win all of his games this is base on my conclusion only. In gambling you must need to become knowledgeable you must need have a lot of ideas, information and knowledge to make a better decision in gambling let's say he already has that and win some of his games and now he is facing some problematic actions while playing he must need to do some critical thinking to avoid getting lost as a gambler we must need that, now even he lost already it is better to make a list of conclusion why does he lose on the game by that you can make an idea what are your mistakes so soon you can avoid this again. It is better also if we keep monitoring our profit and losses because by that we keep aware on our selves that we already lose a lot of money and we can now stop for the meantime to avoid continuously losing sometimes there is a term called "momentum" in gambling if you lose this you can not make focus on your games and having a loose steak now.

[iv4n]

Unfortunately, your friend just becomes lucky, the story has a title: Newbie luck. 
From $100 to 24 ETH is not hard with correct money management and luck, your friend should learn when to turn off the pc before starting the same cycle again. Big lessons have a cost, hit and run strategy never dies.

I like how you said it, hit & run strategy never dies! Only one thing is sure here, we all learn and build experience over time, how to make profit and most of all how to keep the profit and not lose it all. I had many similar gambling nights, where I get into good profit and in desire to make more, with feeling that I am on roll and that I can win much more, I rise bets and after some time I simply go to zero!
The same will happen again to me, I am sure, when I get carried away I can do something stupid again. It's gambling after all and we play for excitement, it's easy to get blinded by big wins, desire to win even more, we can't run away from that, at least some of us!

[deisik]

Unfortunately, your friend just becomes lucky, the story has a title: Newbie luck. 
From $100 to 24 ETH is not hard with correct money management and luck, your friend should learn when to turn off the pc before starting the same cycle again. Big lessons have a cost, hit and run strategy never dies.

I like how you said it, hit & run strategy never dies! Only one thing is sure here, we all learn and build experience over time, how to make profit and most of all how to keep the profit and not lose it all. I had many similar gambling nights, where I get into good profit and in desire to make more, with feeling that I am on roll and that I can win much more, I rise bets and after some time I simply go to zero!

This is called recency bias

And it is a serious issue not only with gambling but with trading too, which is, to tell the truth, not very far from gambling (at least, for the majority of traders). Our brain is wired in such a way that we intuitively consider most recent events and circumstances as most important and significant, failing to see the bigger picture. In general, this is a good strategy overall, but it can play nasty tricks with our decision-making machinery

So we start to win and our subconscious tells us that this will go on. Most people base their decisions not on strict logic and rational considerations but rather on their so-called gut feelings, the voice of the subconscious. No surprise they end up losing their profits, whether it is gambling or trading. In fact, we are all vulnerable and susceptible to this illusion

[swogerino]

Unfortunately, your friend just becomes lucky, the story has a title: Newbie luck. 
From $100 to 24 ETH is not hard with correct money management and luck, your friend should learn when to turn off the pc before starting the same cycle again. Big lessons have a cost, hit and run strategy never dies.

I like how you said it, hit & run strategy never dies! Only one thing is sure here, we all learn and build experience over time, how to make profit and most of all how to keep the profit and not lose it all. I had many similar gambling nights, where I get into good profit and in desire to make more, with feeling that I am on roll and that I can win much more, I rise bets and after some time I simply go to zero!

This is called recency bias

And it is a serious issue not only with gambling but with trading too, which is, to tell the truth, not very far from gambling (at least, for the majority of traders). Our brain is wired in such a way that we intuitively consider most recent events and circumstances as most important and significant, failing to see the bigger picture. In general, this is a good strategy overall, but it can play nasty tricks with our decision-making machinery

So we start to win and our subconscious tells us that this will go on. Most people base their decisions not on strict logic and rational considerations but rather on their so-called gut feelings, the voice of the subconscious. No surprise they end up losing their profits, whether it is gambling or trading. In fact, we are all vulnerable and susceptible to this illusion

I think that our subconscious voice is always wrong but we never take notes of what happens during a gameplay session or a trading decision.If we do I am think that sooner rather than later we will start to stop listening to this voice which would be translated in not losing big amounts of money anymore.

[Jateng]

I can't imagine his face before & after he won a big money and suddenly lost everything he had in his pocket. I think he bet a lot since he started to play gambling, so he managed to win a lot and lose a lot in an instant. I guess your friend had a great experience in gambling activities. I never won as much as he did but I still manage to broke up when I know that I can't control myself even it's losing or winning. I don't want to risk many as I can knowing that I might regret all my losses in the end. I'm happy to gambling just for fun.

[bitcoin31]

Your friend better they do is to save the other coins they win on playing in the whole months I amazed because from such amount they grow it very big and I think lesson learned to him is to control his self for the time they play again.

If I get that amount of money or win huge from my capital I will keep it safe the others and I will withdraw it and I will play the rest because once your money is in the gambling wallet by time goes by you play you did not notice that is all gone because you are busy to get a target.

[Maslate]

Your friend better they do is to save the other coins they win on playing in the whole months I amazed because from such amount they grow it very big and I think lesson learned to him is to control his self for the time they play again.

There is a saying that goes "regret comes in the end".. that's probably what his friend is feeling after he lose all his winnings.
If you can see the future, you'd probably do the right things all the time, but this is part of being a gambler man, once you learn from your mistake, you'll sure mature.

[deisik]

If we do I am think that sooner rather than later we will start to stop listening to this voice which would be translated in not losing big amounts of money anymore

As the saying goes, if ifs and ans were pots and pans (there'd be no work for tinkers' hands)

Long story short, it doesn't work like that. The rational decision making requires time and conscious effort. But when we have no time, we have to react fast on the spur of the moment. Naturally, that means relying on our instincts and automatic responses. Needless to say, more often than not this leads to wrong decisions and suboptimal choices resulting in losses

It goes well beyond things like gambling and trading, and it is a very serious issue. For example, pilots are trained to discard their impulses and follow the flight indicators, but they still default to their feelings in cases of extreme emergencies. There is no way to override this system once it takes control, which happens when we become overwhelmed with fear or greed

[Questat]

If I get that amount of money or win huge from my capital I will keep it safe the others and I will withdraw it and I will play the rest because once your money is in the gambling wallet by time goes by you play you did not notice that is all gone because you are busy to get a target.

Hopefully you can win so you can prove to yourself if you can really follow your plan.

Actually mate, just like a regular gambler, we all do planning before we gamble, but sometimes we loss control, instead of following it, we do the opposite because our emotion has taken over our head, that's why discipline is very important, but you'll not gonna master that easily, it will take time a lot of experience to learn and mature as a gambler.

[kotajikikox]

Your friend better they do is to save the other coins they win on playing in the whole months I amazed because from such amount they grow it very big and I think lesson learned to him is to control his self for the time they play again.

There is a saying that goes "regret comes in the end".. that's probably what his friend is feeling after he lose all his winnings.
If you can see the future, you'd probably do the right things all the time, but this is part of being a gambler man, once you learn from your mistake, you'll sure mature.

and Regret of being greedy 

Imagine that he had already Big winnings and he accumulate for months but in just 1 day he spent all and turn back to zero?

This person is totally Greed and addicted ,he will never win in any gambling that he may attended because he cannot even reserve some amount for another day,He will always be a LOSER.

[South Park]

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.

This is a known fact, casinos know that if you were using your money directly when you are betting you are going to be discouraged to bet your money because you are going to think of the consequences of it and what you could do with it, but if you are using chips things change and people feel more at ease to bet that money because they do not see it as money anymore which is why in any casino around the world you're going to be forced to exchange your money for chips if you want to bet at that casino.