Why most gamblers can never hold onto big bag?

[Viscore]

I think he get a superman syndrome where he thinks that there is a unlimited winning streak. I think it is better if we will also think the money that we are going to lose not only the money that we can win. It is really a regrettable decisions because he managed to increased his portfolio with many days but he only lose it in just one day. Not only once but twice, I think this scenario can also help us specially if we experience to feel greed. Avoid having superman syndrome because it is one of the major reason why our gain can become losses.

I like the term, 'superman syndrome', lol it sounds that you are really bullet proof and invincible, however, this is real life, no one is going to have an unlimited winning streak in gambling. Even those poker stars sometime with all the skills they have are not enough to turn their unlucky streak into a winnable case. I would admit that I fall for this kind of 'superman syndrome', but as I mature I learn to get out when I still have money in my hand.

This is better than chasing our loses.

I've experience both chasing loses and being aggressive when winning,  the feeling when you lose more because you keep chasing is more disturbing, can't accept it easily especially if it resulted to gambling more than you can afford to lose. When winning sometimes, I like to make more, that is greediness and I understand it but that our weakness as a human, we need to learn controlling that, not just to win but to minimize our loses as well.

Imagine you put all your effort and you win but you did not stop at the right time, so you ran out of luck in the end.

[coolcoinz]

Because they are gamblers and betting on the edge is what gambling is all about. If you make them win big they'll be more daring in because they'll think they're lucky.
They'll also have a bigger margin of error having more money in their wallets so they'll still be able to lose 50% without blinking an eye, regardless of whether that 50% is $50 or $50k.

[BitcoinTurk]

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 situation you mentioned was unfortunately a bad experience for your friend. Undoubtedly, the main reason for this situation is due to the greedyness of people. Although the person has set a goal for himself, he continues to bet with the ambition to win more if that goal is achieved. Afterwards, the balance is deducted below the target set first and the person continues to play to reach his target again. Of course, in this process, the current balance is gradually melting and finally ends. This is not just a behavior seen on your friend, it is a behavior seen on almost all gamblers. First, we lose after psychology of gain and then because of loss psychology. There is also a psychological problem for everyone who gambles, and the happiness gained with $ 1 is less than the sadness achieved with $ 1 lost.

[Betwrong]

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.

If you lost that amount when BTC was around $200, and today you see that it's $1,000, I can relate because the same happened to me as well. But I can't understand how could you not care about losing $1k in BTC when it was $1k at the moment. Have you never exchanged your BTC for USD before? Because only in that case you could see those thousands of sats as some virtual "play money" with no relation to the physical world. Once you exchanged it, you feel they are real.

Whatever the reason that guy lost 30ETH in one day, it wasn't that he thought the money was "abstract".

[bitcoin-shark]

It is difficult to know how to stop while you are winning, while the trend is positive, my strategy is this if I win what is more than the budget that I have allocated to the game I put it aside and do not replay it

[jhonjhon]

I have to think that your friend is enjoying the moment and is willing to lose.

Maybe we should care much and get surprised how he did it but never ask why it brings his level to that point. Asking him might tell that he was bored enough to win or he has a lot of money which he tried to enjoy. The situation may not enough to tell that he probably out of his mind and might think he has a problem because some gambler won't make that stupidity, not only if they are chasing their losses to recover.

[jademaxsuy]

I have something in my mind why gamblers can never hold onto big bag. Even though i'm not a gambler like your friend but this is the only thing I can say about why gamblers can't hold on to big bag is because of greed. Gamblers will think of getting hold of more or much bigger bag than before that is why instead of holding the bag and keep it but still want to do it.

[Japinat]

I have something in my mind why gamblers can never hold onto big bag. Even though i'm not a gambler like your friend but this is the only thing I can say about why gamblers can't hold on to big bag is because of greed. Gamblers will think of getting hold of more or much bigger bag than before that is why instead of holding the bag and keep it but still want to do it.

it cannot be all the time associated with people's greed, you only call yourself greedy when you set a target, you hit it but you still don't stop because you are longing to win more and more, that's more life greediness to me, but I think in this case, he has not set a target, so he is gambling without a direction, so he won't reach to a specific direction.

[deisik]

If you lost that amount when BTC was around $200, and today you see that it's $1,000, I can relate because the same happened to me as well. But I can't understand how could you not care about losing $1k in BTC when it was $1k at the moment. Have you never exchanged your BTC for USD before? Because only in that case you could see those thousands of sats as some virtual "play money" with no relation to the physical world. Once you exchanged it, you feel they are real

That's one of the reasons brick-and-stone casinos use chips

Indeed, chips are more handy and convenient overall (compared to paper money or coins), but we shouldn't throw away a psychological aspect of them either. As the case described above proves, most people deep down don't feel like they are playing with real money, and that's what casinos want. Otherwise, gamblers would be way more cautious, careful and prudent with their shekels. That's not what casinos want. They want you to be reckless and wild, so when you see a pile of chips, they are just that, round pieces of cheap plastic

[virasog]

Because they are gamblers and betting on the edge is what gambling is all about. If you make them win big they'll be more daring in because they'll think they're lucky.
They'll also have a bigger margin of error having more money in their wallets so they'll still be able to lose 50% without blinking an eye, regardless of whether that 50% is $50 or $50k.

Over confidence is another reason why the gamblers lose all the money in one go. A sensible gambler will never lose money all at once. He will play slowly and steadily. When you see a person making big bets, the reason is that he is playing with emotions and greed, and he will lose sooner or later if he continues this.

[btc78]

Because they are gamblers and betting on the edge is what gambling is all about. If you make them win big they'll be more daring in because they'll think they're lucky.
They'll also have a bigger margin of error having more money in their wallets so they'll still be able to lose 50% without blinking an eye, regardless of whether that 50% is $50 or $50k.

Over confidence is another reason why the gamblers lose all the money in one go. A sensible gambler will never lose money all at once. He will play slowly and steadily. When you see a person making big bets, the reason is that he is playing with emotions and greed, and he will lose sooner or later if he continues this.

that is effect of Positivity in playing mostly confident but after a couple of losses they changed to desperation and that comes the losing of all the money goes.

This is what we must prevent to happen and we must learn hot to get this kind of thing out of our mind.

[Barcode_]

I think some gamblers might have the illusion that it is easy to win money from the casino when they are on a lucky streak, but I also believe there will be times when the gamblers run out of luck and that is the moment everything starts to goes badly for them. Without any self control, the gamblers will simply lose all of their money back to the casino within one day.

[LogitechMouse]

Over confidence is another reason why the gamblers lose all the money in one go. A sensible gambler will never lose money all at once. He will play slowly and steadily. When you see a person making big bets, the reason is that he is playing with emotions and greed, and he will lose sooner or later if he continues this.

Being overconfident is somewhat related to greediness because both of them give the same result to the gambler and that is an imminent loss .

For me, a gambler who has a plan when to stop whether he is winning or losing is the best gambler. This just mean that he can control himself and he has plans to do whenever he won X amount of money and if he losses. Person making big bets are really greedy but this scenario is the greediest that I've seen. Started from $100 and have 24 ETH but he chooses to gamble and another one is he has 30 ETH and he didn't stop there and chooses to gamble more hoping that he will earn more money >

[ethereumhunter]

It is difficult to know how to stop while you are winning, while the trend is positive, my strategy is this if I win what is more than the budget that I have allocated to the game I put it aside and do not replay it

As long as we don't greedy to make more money, we can stop gambling anytime. Greediness will be the enemies that will prevent us from stopping from playing gambling while we are winning.

Your strategy is good, and I think that is what we must do after we win so we don't have to get another loss in the next round. That can prevent us to see the passion for playing gambling become bigger too.

[DoublerHunter]

It is difficult to know how to stop while you are winning, while the trend is positive, my strategy is this if I win what is more than the budget that I have allocated to the game I put it aside and do not replay it

As long as we don't greedy to make more money, we can stop gambling anytime. Greediness will be the enemies that will prevent us from stopping from playing gambling while we are winning.

^ Definitely right, dont be too greedy in gambling if you are in a winning situation. Because the more time you have been spent in gambling the more of chances that you probably lose, but luckily if you will win for how many streaks but that is rarely happen and most likely it will end up losing. Be contented of what you have gained from gambling or it is good if you have allocated an exact amount of your money in gambling so that if ever win or lose you will stop.

[ethereumhunter]

It is difficult to know how to stop while you are winning, while the trend is positive, my strategy is this if I win what is more than the budget that I have allocated to the game I put it aside and do not replay it

As long as we don't greedy to make more money, we can stop gambling anytime. Greediness will be the enemies that will prevent us from stopping from playing gambling while we are winning.

^ Definitely right, dont be too greedy in gambling if you are in a winning situation. Because the more time you have been spent in gambling the more of chances that you probably lose, but luckily if you will win for how many streaks but that is rarely happen and most likely it will end up losing. Be contented of what you have gained from gambling or it is good if you have allocated an exact amount of your money in gambling so that if ever win or lose you will stop.

Even if we win some rounds, we recover the loss that we already got before, but that is not the real winning because we win to cover the lost. If we can know that no matter how much time we spend in gambling, that can only give you the chance to lose. It is better to feel enough is enough, so we can know what we should do if we lose or win. Besides that, we can know about allocating the money that will be used for playing gambling.

[Botnake]

It is difficult to know how to stop while you are winning, while the trend is positive, my strategy is this if I win what is more than the budget that I have allocated to the game I put it aside and do not replay it

As long as we don't greedy to make more money, we can stop gambling anytime. Greediness will be the enemies that will prevent us from stopping from playing gambling while we are winning.

^ Definitely right, dont be too greedy in gambling if you are in a winning situation. Because the more time you have been spent in gambling the more of chances that you probably lose, but luckily if you will win for how many streaks but that is rarely happen and most likely it will end up losing. Be contented of what you have gained from gambling or it is good if you have allocated an exact amount of your money in gambling so that if ever win or lose you will stop.

Even if we win some rounds, we recover the loss that we already got before, but that is not the real winning because we win to cover the lost. If we can know that no matter how much time we spend in gambling, that can only give you the chance to lose. It is better to feel enough is enough, so we can know what we should do if we lose or win. Besides that, we can know about allocating the money that will be used for playing gambling.

For me I'll just stop monitoring my loses as I don't want to give this a headache in my gambling activity.
The thing is, when you keep thinking of recovering your previous loses, you'll never enjoy gambling because it's given that most gamblers loses .

So, if your purpose is just to have fun, you should focus on what you have in a certain session, and enjoy gambling, regardless of the outcome.

[lienfaye]

It is difficult to know how to stop while you are winning, while the trend is positive, my strategy is this if I win what is more than the budget that I have allocated to the game I put it aside and do not replay it

If we gamble and win we think the same scenario will going to happen again. The reason why some of us keep playing for the hope we can get back what they lost or win the same amount like before. Its easy to spend the amount we didnt earn from hard work thus it would be better to have a plan how to manage it by having a limit how much to spend in gambling.

[Zeke_23]

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

When it comes to playing, there are times that you will win, but we all know that after all those winning, you will suddenly lose because luck is not on your side everytime.
In this case, your friend might have face his losing streak and tried to take his losses back, unfortunately, your friend wasn't able to do that and end up losing all his money.

[Debonaire217]

If we gamble and win we think the same scenario will going to happen again.

That is in fact, true especially if the games that you are playing is dice game where there is no significant signs if you will win or not, meaning to say that your basis to tell if you will win is the previous game that you played. What happens is that, the opposite of what we think which is losing. That is because gambling and winning doesn't certify us to win always, there is always a chance to lose and perhaps, it is higher than the chance to win.

The reason why some of us keep playing for the hope we can get back what they lost or win the same amount like before. Its easy to spend the amount we didnt earn from hard work thus it would be better to have a plan how to manage it by having a limit how much to spend in gambling.

Not all the time, sometimes there are people that knows how to value funds even if it doesn't come from hardwork. Traders I can say, they didn't allow their funds to be lost so they always execute decisions based from the market graph and condition. The same as in gambling, what we need is control. Control to say that we have earned enough because with greed, we can lose everything in just one day.