Why most gamblers can never hold onto big bag?

[carlisle1]

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.

What you are saying is that called" Beginners Luck" in which most newbies has given opportunities and experience the winnings but just after that the Losses starts and they will become addicted to chase those wins from the past.

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.

He is not chasing losses because he wins more than what he has as capital what happens here is that OP's Friend becomes Greed to chase for more wins and not leaning back about the losing he got.

[Botnake]

He is not chasing losses because he wins more than what he has as capital what happens here is that OP's Friend becomes Greed to chase for more wins and not leaning back about the losing he got.

He lose a bit but he got a big regret for this lose, when you are up and you are still thinking to win more, there's a chance that you'll end up with nothing because you will lose everything, that's pretty normal in gambling, one can start with a small bankroll get aggressive while gambling to win big amount and if it happen it happen, the problem is when to stop and just cash out to enjoy it.

If we can only get contented, we can always enjoy our winning by spending it to whatever we like to buy, then start a small bankroll again and try to win big just like what we have done previously, I think this is quite better than losing your winning instantly.

[Betwrong]

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

I personally can't relate, because even when I play poker with my friends using a cheap poker game set like this one



those chips feel valuable to me like real money, even though we never assign cash equivalent to them(we don't play for money, it's a friendly game).

But that's not to say that I disagree with you. People are different, and, indeed, on most of them real physical money produce some "magical" effect that chips and other substitutes fail to produce.

[Golftech]

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.

Gamblers who have huge bankroll most of the time thinks that they can comes out with decent profits, trying to keep playing while funds still doing great and some lucks gives them hint, but in the longer run those lucks start to fade and losing streaks begins to show up and with aggressive approach this gamblers will only realize that everything was gone and busted.

[Japinat]

Gamblers who have huge bankroll most of the time thinks that they can comes out with decent profits, trying to keep playing while funds still doing great and some lucks gives them hint, but in the longer run those lucks start to fade and losing streaks begins to show up and with aggressive approach this gamblers will only realize that everything was gone and busted.

I will think of the opposite, gamblers who have decent bankroll are more discipline and compose than those who does not have.

here's what I believe.
Gamblers with huge bankroll are strict with their bankroll management, they focus on the long term profit using their consistency in gambling.
Gamblers with less bankroll are usually aggressive because they like to grow their money in many folds thus they are taking a huge risk.

[TalkStar]

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

As you have already mentioned on your topic that your friend easily got 24 Eth and after losing everything again made 30 eth through gambling. Yeap,,,its the nature of gambling where you can easily make huge profits but chances of being empty pocked is also higher too. Self control is the only thing which can help you to make some easy money but if you play aggressively than definitely you will lose most of your funds. You can tell your friend to make some study about the word "Greedy" which may help him to hold his winning fund in the upcoming days.

Gambling is the only platform which can make you millionaire just in one night but have chances of being bankrupt in the morning. That's why people love to put all blame on their luck. 

[Finestream]

Gambling is the only platform which can make you millionaire just in one night but have chances of being bankrupt in the morning. That's why people love to put all blame on their luck. 

Well as for me, I would not blame my luck, rather I would blame myself as I am the one making the decision and I understand that a gambler cannot be lucky all the time. When seeking to become a millionaire in gambling, that seems to be a hard mission, unless you have a decent amount of capital close to million, but starting from a small capital and you want to turn into million, you'll need extreme luck and of course discipline to be able to stop at the right time.

[maydna]

Gambling is the only platform which can make you millionaire just in one night but have chances of being bankrupt in the morning. That's why people love to put all blame on their luck. 

Well as for me, I would not blame my luck, rather I would blame myself as I am the one making the decision and I understand that a gambler cannot be lucky all the time. When seeking to become a millionaire in gambling, that seems to be a hard mission, unless you have a decent amount of capital close to million, but starting from a small capital and you want to turn into million, you'll need extreme luck and of course discipline to be able to stop at the right time.

We can't have to blame luck because luck comes without we want, and the luck will go only to the right person. But we should know that playing gambling will need luck so we need to remember that if we cannot win on the gambling, then we should stop for a while, and think that our luck is not coming to us. Getting millionaire from gambling is possible, but many people don't realize that, and they still chase that from time to time. If they can consider that luck is one important, they will not try to force themselves to pursue the luck by playing more.

[TalkStar]

You'll need extreme luck and of course discipline to be able to stop at the right time.

Yeap,,, you got my point. Strict discipline is highly recommended for every gamblers which actually play the key role during gambling. Who are not well disciplined and have lack of self control will always run after big wins and as result it can bring huge losses anytime. Most interesting thing is that in the field of gambling its quite rare to find well disciplined gamblers. Professional gamblers have their own strategy, discipline and self control which drive them during their game and save them from being bankrupt.

[Finestream]

Most interesting thing is that in the field of gambling its quite rare to find well disciplined gamblers.

That's correct, and we should not be surprise that some countries ban gambling because people are losing money that they are not suppose to lose anyway, they need to bet only what they can afford to lose but they does not have that control, so instead of educating people, government make a drastic measures by banning gambling in their country.

[Gotumoot]

Most gambler could never hold onto big bags because they couldn't control their self they couldn't control their greed they would want more they would keep on playing until they lose it all or they get what they wanted.
It is simple as that it is like what my older friends told me back when I was still in high school some people wouldn't go to college once they have a taste of earning money from work.
So I think it also apply on gambling some people wouldn't stop once they have taste of earning from gambling.

[TopT3ns]

Most gambler could never hold onto big bags because they couldn't control their self they couldn't control their greed they would want more they would keep on playing until they lose it all or they get what they wanted.
It is simple as that it is like what my older friends told me back when I was still in high school some people wouldn't go to college once they have a taste of earning money from work.
So I think it also apply on gambling some people wouldn't stop once they have taste of earning from gambling.

many people have that trait and it has become a very normal thing because human nature can be said to be trying to get a lot of profit but are afraid of losses that might occur so that only people who can control their patience can get the golden opportunity.

[ethereumhunter]

Most gambler could never hold onto big bags because they couldn't control their self they couldn't control their greed they would want more they would keep on playing until they lose it all or they get what they wanted.
It is simple as that it is like what my older friends told me back when I was still in high school some people wouldn't go to college once they have a taste of earning money from work.
So I think it also apply on gambling some people wouldn't stop once they have taste of earning from gambling.

They will never be satisfied if they cannot control themselves because greed will always be with them. But hey, when some people can taste money from their work before they finish their study, they will not continue their study because they think that they don't need that because they already make money.

In gambling, when people can win some money, they feel that it is something important to them because not all people can win in gambling. That can make them play gambling because they want to get another winning, but unfortunately, they cannot always win in gambling.

[BitcoinsGreat]

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 only thing which comes to my mind is that gamblers in general are greedy. That's the only reason they always lose the profit which they gain from winning. If gamblers overcome the habit of greediness, they can earn good amount of money from gambling.

[Gyfts]

This is how casinos operate for the most part. They take advantage of the psychology of addicts, or even normal players, who don't know when to quit. A classic example being blackjack which has by far the lowest house edge of any table game in the casino. Even though over time it's meant to be profitable for operators because of the house edge, the game still takes advantage of people that go bust because of greed.

Giving back what you win is almost inevitable which is why you should only gamble for fun, not to make money.

[AicecreaME]

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

Obviously it is because it goes into his head, thinking that he might always get lucky if he'll push his luck to its limit, which clearly explained that it can't. Gamblers who don't know how to control their emotions and urges to have more profits will eventually lose their profits in the end of the day, the worst part is that they will never make profits again, I mean it will take some time before they would experience the joy when they are winning huge profits.

They key is to be contented no matter how big your profit is, it is safer that way, nonetheless, proceed with caution and take the responsibility to yourself.

[Natsuu]

Gambling is the only platform which can make you millionaire just in one night but have chances of being bankrupt in the morning. That's why people love to put all blame on their luck. 

Well as for me, I would not blame my luck, rather I would blame myself as I am the one making the decision and I understand that a gambler cannot be lucky all the time. When seeking to become a millionaire in gambling, that seems to be a hard mission, unless you have a decent amount of capital close to million, but starting from a small capital and you want to turn into million, you'll need extreme luck and of course discipline to be able to stop at the right time.

We all agreed to the terms or idea of how gambling can be our one way ticket to being a millionaire instantly. Sometimes when luck hits you, it may bring you the biggest twist of your life which is to earn a lot of money. Yet it will so makes you so sad if the luck isn't with you. Luck isn't thst constant because it will be randomly experience by anybody that is playing gambling.

To the idea of most gamblers never hold onto big bag is that because they always ate by the idea of greediness. If they think or they earn a lot of money that they didn't earn in the past, they will desperate want to experience the earnings. And sometimes gamblers experience the overthinkinh of what may happen to their earnings if they didn't pull put or withdraw it. Some gamblers also into the idea of anything is possible, so if they earned money they will alsp earned it in the future.

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 only thing which comes to my mind is that gamblers in general are greedy. That's the only reason they always lose the profit which they gain from winning. If gamblers overcome the habit of greediness, they can earn good amount of money from gambling.

And also, if gamblers learned how market works and what things ro be considered in gambling, they will not panic and van wait for the bigbag and stays to hold on. Most gamblers is in the idea of greediness and overthinking. But what can we say? Gambling is one of the most easy way to earn a lot of miney yet dangerous also in terms mo chance of losing a lot of money as well. All of people have different perspective in gambling and also they have different strategy in order to earn money even if it is in long term or short term.

[DabsPoorVersion]

The reason why your friend lost too much money in just a day is simply that he is greedy,

I don't know what is the actual process of his gambling but base on what you have stated, the only reason that I can see is that he wasn't able to control his addiction. He can't stop himself to continue gambling and turns out that he end up having nothing. That is the common problem of a person who's addicted to gambling, sometimes they don't know how much they lose and only realize it after they play.

[South Park]

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 he is an greedy idiot, sorry for truth. Your question is resolved now.

Quite funny when I read this but this is the truth.

Your friend is a greedy idiot. A gambler who started $100 and ended up with almost 24 ETH at most is not a common scenario for most of the gamblers. Most of the time they end up losing their money or they will win a bit and then lose it all. Your friend has once in a lifetime opportunity to go out with 24 ETH and another with 30 ETH and yet he chooses to gamble. He is a greedy idiot who doesn't think of going out if it is time to get out of gambling already.

While you are not incorrect it is safe to assume that it was that greediness that allowed him to reach those levels of profits in the first place, I know that if I was in his place and I started with a certain amount of money and after some time I doubled that amount through gambling I will probably stop right there and think of myself as someone incredibly lucky, but in his case it was that greediness that kept pushing him forward until he reached those profits and it was that very same greediness that caused his downfall by forcing him to keep betting despite the huge profits he got already.

[Betwrong]

This is how casinos operate for the most part. They take advantage of the psychology of addicts, or even normal players, who don't know when to quit. A classic example being blackjack which has by far the lowest house edge of any table game in the casino. Even though over time it's meant to be profitable for operators because of the house edge, the game still takes advantage of people that go bust because of greed.

Giving back what you win is almost inevitable which is why you should only gamble for fun, not to make money.

Not going to argue with the "gamble for fun" part, cos  those are my thoughts too. But I think that when we say that something is inevitable we should specify, during what period of time. I mean, you can go bust in a matter of minutes because of bad luck, but, however hard I tried, I failed to find any reliable information on after how many bets you are guaranteed to lose to the house. I have an impression that it is something closer to billions rather than to hundreds. And it really makes me laugh when someone who lost $200 to a roulette game within just 50 spins is told by his friends: "There's a house edge! What were you expecting?!"