Greatest Gambling Losers

[Serious475]

Why they lost millions of dollars money is very important to our life and not unlimited because once a person did not know how his limitations or on how to spend his money they possible to lose it all. I hope they using their money for right thing because better to have plan on it I wiuld say that playing gambling is not good but in moderation just spend thousands dollars maximum is enough to fullfill their happiness because mostly rich people their reasons why they are playing gambling is to make happy or they enjoy playing. But it depends on them because they are using their own money not mine Im only giving my suggesstion of what is I think is good for them.

Reading on the experiences is really eye opening. Although most gamblers have lost money in this but the rate of loses are different. If you are poor and you keep losing money, that will definitely affect one but if you are rich and you lose money very minimal to your wealth, well you may not feel it. It all depends on how much we lose anyway.

So it is important for each player to first know how much they can afford to lose and play accordingly. Just by reading somebody won so much etc and feel that even they can also win the same or more might not happen. Each one has different luck and skills so judge yourself and check your own position and then gamble because once lost big money then nothing else is left later other than regretting it.

Being a gambling user makes you also a winner because in the world of gambling there are no such word like lose because if you lose in a round then you can learn on what you've mistaken and you can win for the next time you experience that struggle again. You need to learn more about gambling before you win a lot because if you don't learn many things and you keep winning, you will not get thrilled for every bet you are doing because you don't feel like losing and the worst part of this is you can get a big disappointment for the first time you are going to get defeated.

[Becky666]

Having a loss in gambling is a normal thing but not learning any lessons from it will make you lose more from gambling. Sometimes gamblers become greedy or sometimes emotions come into play which is the major cause of loses in gambling. Gamblers need to overcome these things as then only there will be more chances for the gamblers to win.

That's very true. Greed is often the reason for huge losses and only Self control can help us overcome greed.
Having self control is key a concept in gambling because that is what helps us control our losses.
Many gamblers are incapable of this and end up losing more than they could afford. It is the Greed that overcomes their capability.
I have myself encountered losses but I try to control myself from over gambling and this certainly helps me to limit my losses.

Well, greed is always a part of the gamblers. From my little years in gambling thousands of losers are those who can't shun greed while gambling. Sometimes, greed can be to the advantage of the gambler but mostly sometimes end in disadvantage. I have made some good greed while I ended up in advantage, still remember that: I was able to make closely $100 profit back in 2019. Though, this was purely base on luck and not on my skills as i can remember. Conclusively, having a greed isn't bad but ensuring to have self control over your greed.

[rodskee]

yes, that's crazy.

There is too much gambling craze and it will not end. Victory, defeat, addiction, family problem, economy, bankruptcy, being laughed at, humiliated and these are the thing that stick to the gambler whose addiction has gone beyond normal limit.

it will not stick in gamblers if they did not allow that to happen,so this mean it is every gamblers mistakes if they become addicted
and go through that everytime.

Of course that is one of the gambling behavior that are considered bad by many people. I know that some highly addicted gambler will continue to gamble even on borrowed money. They borrow money and gamble with the aim of winning more money and covering previous losses. I think this is a misperception because if a gambler continues to chase wins to compensate for losses then I believe in the end it will only add to the losses.

and that is a lenders thing to give them money or not but if i were in the position?and found out that what they are borrowing from me is for gambling?
for sure i will never let them have that money instead i will let them realize what mistakes they did and how much trouble they bring.

[Google+]

Having a loss in gambling is a normal thing but not learning any lessons from it will make you lose more from gambling. Sometimes gamblers become greedy or sometimes emotions come into play which is the major cause of loses in gambling. Gamblers need to overcome these things as then only there will be more chances for the gamblers to win.

That's very true. Greed is often the reason for huge losses and only Self control can help us overcome greed.
Having self control is key a concept in gambling because that is what helps us control our losses.
Many gamblers are incapable of this and end up losing more than they could afford. It is the Greed that overcomes their capability.
I have myself encountered losses but I try to control myself from over gambling and this certainly helps me to limit my losses.

Well, greed is always a part of the gamblers. From my little years in gambling thousands of losers are those who can't shun greed while gambling. Sometimes, greed can be to the advantage of the gambler but mostly sometimes end in disadvantage. I have made some good greed while I ended up in advantage, still remember that: I was able to make closely $100 profit back in 2019. Though, this was purely base on luck and not on my skills as i can remember. Conclusively, having a greed isn't bad but ensuring to have self control over your greed.

My greedy nature will always exist in people who gamble but I think if you are greedy you will experience your own losses because sometimes you cannot control our emotions and are affected by the conditions of the gambling place which ultimately make us addicted and have difficulty getting away from the gambling place, even though You have been able to get as much profit as you have mentioned, but I am sure that at this time you are having difficulty getting that much profit again because the gambling place will always be improved the script so that it will be more difficult to win games at the gambling place.

[Becky666]

Having a loss in gambling is a normal thing but not learning any lessons from it will make you lose more from gambling. Sometimes gamblers become greedy or sometimes emotions come into play which is the major cause of loses in gambling. Gamblers need to overcome these things as then only there will be more chances for the gamblers to win.

That's very true. Greed is often the reason for huge losses and only Self control can help us overcome greed.
Having self control is key a concept in gambling because that is what helps us control our losses.
Many gamblers are incapable of this and end up losing more than they could afford. It is the Greed that overcomes their capability.
I have myself encountered losses but I try to control myself from over gambling and this certainly helps me to limit my losses.

Well, greed is always a part of the gamblers. From my little years in gambling thousands of losers are those who can't shun greed while gambling. Sometimes, greed can be to the advantage of the gambler but mostly sometimes end in disadvantage. I have made some good greed while I ended up in advantage, still remember that: I was able to make closely $100 profit back in 2019. Though, this was purely base on luck and not on my skills as i can remember. Conclusively, having a greed isn't bad but ensuring to have self control over your greed.

My greedy nature will always exist in people who gamble but I think if you are greedy you will experience your own losses because sometimes you cannot control our emotions and are affected by the conditions of the gambling place which ultimately make us addicted and have difficulty getting away from the gambling place, even though You have been able to get as much profit as you have mentioned, but I am sure that at this time you are having difficulty getting that much profit again because the gambling place will always be improved the script so that it will be more difficult to win games at the gambling place.

Been greedy don't actually give addiction in gambling, what has lead thousands into addiction is lack of self-control while gambling. Am a self-control gambler with a difference and proud of myself indeed. As you pointed out, greed has lead me into losses but was able to contain it with the help of self-control. Well, gambling addiction isn't a death sentence or something difficult to get off , just with a little self-control it will be overcome. Sincerely speaking, the gambling industry has upgraded and still upgrading which makes it difficult to win, though there are winnings but not as before.

[ethereumhunter]

So it is important for each player to first know how much they can afford to lose and play accordingly. Just by reading somebody won so much etc and feel that even they can also win the same or more might not happen. Each one has different luck and skills so judge yourself and check your own position and then gamble because once lost big money then nothing else is left later other than regretting it.

Yes, it is important to know how much money we can afford, so we know how to manage the money. I think we don't have to feel jealous of other people luckiest because they can not always get lucky all the time, and that is what we get it too. We need to avoid the big loss in gambling because we will hard to recover the loss once we cannot control ourselves. I am sure we already see many gamblers losing their money because we don't know how to manage the money.

[Lucasgabd]

So it is important for each player to first know how much they can afford to lose and play accordingly. Just by reading somebody won so much etc and feel that even they can also win the same or more might not happen. Each one has different luck and skills so judge yourself and check your own position and then gamble because once lost big money then nothing else is left later other than regretting it.

Yes, it is important to know how much money we can afford, so we know how to manage the money. I think we don't have to feel jealous of other people luckiest because they can not always get lucky all the time, and that is what we get it too. We need to avoid the big loss in gambling because we will hard to recover the loss once we cannot control ourselves. I am sure we already see many gamblers losing their money because we don't know how to manage the money.

a simple way, for those who want a more practical answer:
calculate 1% of your gambling portifolio and never lose more than 1% on each bet.

OR

only separate 1% of your total wealth for gambling and give yourself the luxury to loose it all if making a wrong bet.

[qwertyup23]

So it is important for each player to first know how much they can afford to lose and play accordingly. Just by reading somebody won so much etc and feel that even they can also win the same or more might not happen. Each one has different luck and skills so judge yourself and check your own position and then gamble because once lost big money then nothing else is left later other than regretting it.

Yes, it is important to know how much money we can afford, so we know how to manage the money. I think we don't have to feel jealous of other people luckiest because they can not always get lucky all the time, and that is what we get it too. We need to avoid the big loss in gambling because we will hard to recover the loss once we cannot control ourselves. I am sure we already see many gamblers losing their money because we don't know how to manage the money.

The key to gambling will always be on how you manage your resources well. With proper managing of resources comes with discipline and self-control over it.

I remember that I mentioned about the gambler's cycle; wherein a gambler will continue to play until he/she recovers his/her losses in a given round. Unfortunately, this landslides quickly resulting to the exhaustion of their resources until the end. That is why if you plan to gamble, just bring limited amounts of cash with you so you can avoid this cycle.

[freedomgo]

only separate 1% of your total wealth for gambling and give yourself the luxury to loose it all if making a wrong bet.

I like that, 1% would not make you poor because you still have the 99%. People sometimes think that the amount you can afford to lose is based on the specific amount, I say it's based on percentage as not everyone has the same financial status.

Let's say I'm a billionaire and I have like $5 billion as my net worth, so I could gamble $50 million without a problem as that is only 1% of my net worth.

Other may people think I'm crazy as that's a big money.

[iamsheikhadil]

the main thing is still:
not gambling more than one can afford to loose.

it's intresting to know about the greatest losers and all, but I'd be curious to know what was the % of the loss in relation to their total wealth.

keep it as less than 3% and it'll be much easier to survive.

Not really, as one loses more in gambling, they don't generally care about how much they still have. If I have a billion dollars, and I lose one million, I won't really care that I still have 999 million dollars, I would start to bet really crazy till either I win so much that I come back to my senses or I lose it all. It's really very hard to stop it. I'm pretty sure these guys have lost a major chunk of their money and net worth that they have regretted about it a lot!

[ethereumhunter]

a simple way, for those who want a more practical answer:
calculate 1% of your gambling portifolio and never lose more than 1% on each bet.

OR

only separate 1% of your total wealth for gambling and give yourself the luxury to loose it all if making a wrong bet.

I prefer to use 1% of my total wealth for gambling, and not add more money to just playing gambling. I don't think it is easy to never lose more than 1% on each bet because the emotion can be bigger, and we can use more than just 1%.

The key to gambling will always be on how you manage your resources well. With proper managing of resources comes with discipline and self-control over it.

I remember that I mentioned about the gambler's cycle; wherein a gambler will continue to play until he/she recovers his/her losses in a given round. Unfortunately, this landslides quickly resulting to the exhaustion of their resources until the end. That is why if you plan to gamble, just bring limited amounts of cash with you so you can avoid this cycle.

I don't think that he can recover his losses easily because his chance to lose more money will still be there. I prefer to limit my money to avoid bigger money, and that can be a sign for me if I almost run out of my money, so that means I need to stop gambling as soon as possible before my money is really gone.

[FontSeli]

These people lost huge amounts of money. Most likely, they earned this money very easily and without problems. Something that is easily earned is also easily spent. We can see that some of them (for example, Zhenli Ye Gon) got money by committing crimes, which confirms my words that money was earned very easily.

[Porfirii]

Really huge losses thanks for sharing the info.

I can only think the following: profit for the casinos

I hope they only lost what they were willing/could afford to lose.

[Lanatsa]

Really huge losses thanks for sharing the info.

I can only think the following: profit for the casinos

I hope they only lost what they were willing/could afford to lose.

These businesses wont exist if there would be no gamblers who are losing tons of money, we cant see everynow and then on new sites that popping out or
gambling places that had been built since this had been a profitable business.

Of course, as business then profits will be the main priority nothing more.My mind cant really just comprehend on how much they do lost in a short span of time
or do make money out of pennies.This is how gambling works.

You cant really just believe on some cases that people are really that desperate and ending up with those kind of decision.

[Lucasgabd]

<...>

Not really, as one loses more in gambling, they don't generally care about how much they still have. If I have a billion dollars, and I lose one million, I won't really care that I still have 999 million dollars, I would start to bet really crazy till either I win so much that I come back to my senses or I lose it all. It's really very hard to stop it. I'm pretty sure these guys have lost a major chunk of their money and net worth that they have regretted about it a lot!

this argument has some problems and it's really interesting to observe that:
1. only because you do something in a way it doesn't mean everybody would do it like that. People behave differently
2. it's rare, but trust me: some people have good risk management.

[mavilian]

Gambling is a dangerous game. It can make you a millionare and then take everything away overnight. I read hundreds of success and failure stories and I was impressed by the sheer number of people that got lucky and then turned out to be murderers or throw everything away on drugs or other illicit activites.

[LUCKMCFLY]

For the most part, in the game, the greatest likelihood of losing is superior to winning, it is always good to organize a number of money to lose, that is, if we assign a money that we are willing to lose without any prejudice is much better, since The brain will give it for lost, and if in the game you lose it, it will not hurt, it will not fall into vice and apart, you will not be stressed.
I think the greatest losers of the game is when you lose a lot, and you continue betting without control and continue with the bad streak until you have already already funds, this is where the risk control enters, it is similar to the trading when it is used by the "STOP Loss ", since what is willing to lose without risking more

[traderethereum]

These people lost huge amounts of money. Most likely, they earned this money very easily and without problems. Something that is easily earned is also easily spent. We can see that some of them (for example, Zhenli Ye Gon) got money by committing crimes, which confirms my words that money was earned very easily.

If that so, the win money from gambling game would be a "hot money" that will be gone fast
Actually, people see the chance of losing much money in gambling, but they tend to continue and hope that the next game will be their luck.
That is what we saw from gambling and makes many people spend more money to win some money that is not worth doing.
But if that gambling can be our pleasure to have fun from the gambling games and do not spend too much money, that will not be a problem as we still have the other money that we can use for other things.

[lixer]

"Gambling" in the words sense is basically just risking something for a bigger gain or a loss. In that situation we could say that even the generals of history are gamblers, they gambled on a war and either ended up losing or winning. My personal biggest loss came when I gambled away 2 bitcoins, but that was like years ago when they didn't worth anything.

My second biggest is when I quit my job and became full time crypto worker, which paid off like crazy, I am very very happy with that decision, I am hoping to take that to retirement hopefully and that will be my third, work hard on crypto and retire without working ever again. So, we can't really say who is the greatest gambling loser since it is not just about money, I am sure there are many people who lost 100+ million on gambling, I personally saw a guy lose 6+ million dollars on bustabit just a few months back.

[Rruchi man]

The caveat here is that one should always gamble responsibly regardless. Today, I heard the story of some folk who sold his parent's house, and then used the money to gamble. He lost all the money and was wrecked physically, emotional and psychologically. We shouldn't be that guy. Another example, in Kenya, one Mr Karanja lost about $5,000 during a six-year gambling period. Also, in 2016, a university student committed suicide after losing about $790 on a bet. Sad. Always know when to stop and call it quits.