Hard earned money - Busted in seconds

[harizen]

Just started with a $3 bet, but it went upto $98 and ended with empty wallet.

Wait, I thought first on my quick read that you managed to turn your 3$ bet to $98. Is that how it goes?

But reading carefully the statement, does it mean you started with a $3 bet then went up to $98 per bet? That's a crazy and insane bet for an average gambler. Nothing wrong though if you are testing your luck but on that kind of bet, you need guts to face the risks.

Well then, it already happened and the only thing you need to do is to move on. Once you are now in your relaxed mind, try to figure out how to earn money to pay your debt - but this time not through gambling of course. Just do gambling again once you solve your debt issue.

[lienfaye]

It was almost two months hard earned money. Got busted in few minutes. I don't know why I wasn't able to have me within the limits. Just started with a $3 bet, but it went upto $98 and ended with empty wallet. This is completely unlucky, because every bets were placed to roll above 20 which means the winning probability is quite high. Anyhow I wasn't in control and I didn't follow the rule gamble what you can afford to loss. It was a money saved to repay a debt. Now once again the interest needs to be paid so to manage the debt for some more time. Unlucky me  

Thats unfortunate. But why did you use the money that is meant to pay your debt? Hoping to make it double?

Its understandable the eagerness of chasing the money that we lost but always think if thats the wise thing to do because you might regret your decision. Self control and discipline are really necessary, as much as possible set a capital to only use or gambling, dont exceeds with your limit because thats the start of having problem later on. In my case, I only use a spare money because gambling is risky and chances to lose are money is high.

[electronicash]

It was almost two months hard earned money. Got busted in few minutes. I don't know why I wasn't able to have me within the limits. Just started with a $3 bet, but it went upto $98 and ended with empty wallet. This is completely unlucky, because every bets were placed to roll above 20 which means the winning probability is quite high. Anyhow I wasn't in control and I didn't follow the rule gamble what you can afford to loss. It was a money saved to repay a debt. Now once again the interest needs to be paid so to manage the debt for some more time. Unlucky me  

Thats unfortunate. But why did you use the money that is meant to pay your debt? Hoping to make it double?

Its understandable the eagerness of chasing the money that we lost but always think if thats the wise thing to do because you might regret your decision. Self control and discipline are really necessary, as much as possible set a capital to only use or gambling, dont exceeds with your limit because thats the start of having problem later on. In my case, I only use a spare money because gambling is risky and chances to lose are money is high.

the question is why did he gamble it if it's meant for someone as payment?  there were lots of stories like this in the past where someone took a loan to pay for a loan but instead gamble the money and lose. he instead has to person to pay. a movie like "SHARK TALE" is one of it where he asks for money from his girl to pay a loan shark but then he took a chance in a horse race. lose the bet.

sounds like a gambling problem. one solution for this is to sell his priced possession, we all have priced possession to pay the debt.

[South Park]

It was almost two months hard earned money. Got busted in few minutes. I don't know why I wasn't able to have me within the limits. Just started with a $3 bet, but it went upto $98 and ended with empty wallet. This is completely unlucky, because every bets were placed to roll above 20 which means the winning probability is quite high. Anyhow I wasn't in control and I didn't follow the rule gamble what you can afford to loss. It was a money saved to repay a debt. Now once again the interest needs to be paid so to manage the debt for some more time. Unlucky me 

I think the biggest mistake was that such amount of money was actually something that you needed, if you had lost that much money but that was money you could spare then things would not be so bad, but the fact that you needed to use that money to pay a debt and now you need to pay interests makes this an important mistake, try to learn from it so it does not happens to you again and if possible try to not gamble for a time to reduce to zero the chances you could make a mistake like this yet again.

[Poker Player]

I think the biggest mistake was that such amount of money was actually something that you needed, if you had lost that much money but that was money you could spare then things would not be so bad, but the fact that you needed to use that money to pay a debt and now you need to pay interests makes this an important mistake, try to learn from it so it does not happens to you again and if possible try to not gamble for a time to reduce to zero the chances you could make a mistake like this yet again.

That's the point. We should only use to bet the money we can afford to lose, just as we should only invest the money we can afford to lose, especially in volatile investments.

The OP has not logged in since he created the thread yesterday. I guess he is resignedly assuming what has happened, as two months of hard earned money lost in just a few moments, are enough to make an important reflection.

I hope he can take action so that this does not happen to him again.

[bittraffic]

I think the biggest mistake was that such amount of money was actually something that you needed, if you had lost that much money but that was money you could spare then things would not be so bad, but the fact that you needed to use that money to pay a debt and now you need to pay interests makes this an important mistake, try to learn from it so it does not happens to you again and if possible try to not gamble for a time to reduce to zero the chances you could make a mistake like this yet again.

That's the point. We should only use to bet the money we can afford to lose, just as we should only invest the money we can afford to lose, especially in volatile investments.

The OP has not logged in since he created the thread yesterday. I guess he is resignedly assuming what has happened, as two months of hard earned money lost in just a few moments, are enough to make an important reflection.

I hope he can take action so that this does not happen to him again.

Hard earned money is hard to let go. Some people who lost their hard earn money by a scam find it hard to get up, he is conscious and still blessed since its not worth millions. He can earn them back and pay his debts. We all learn.

Sometimes we need this call to be able to understand, that gambling on dice or lottery is not for me.  If you are good at trading, then trade where you could earn more. If you can learn sports betting and become good at it, just do the sports betting.

[robelneo]

It was almost two months hard earned money. Got busted in few minutes. I don't know why I wasn't able to have me within the limits. Just started with a $3 bet, but it went upto $98 and ended with empty wallet. This is completely unlucky, because every bets were placed to roll above 20 which means the winning probability is quite high. Anyhow I wasn't in control and I didn't follow the rule gamble what you can afford to loss. It was a money saved to repay a debt. Now once again the interest needs to be paid so to manage the debt for some more time. Unlucky me 

Buddy we have countless stories like this some prefer to open it up some prefer to just hide it for themselves but in your case, you are brave to admit your time of weakness which is good because that's a sign that you are ready to move.
I also suffered from this kind of loss I kept it to myself for too long and that's harm my health and my thinking you have to open up and admit this behavior for you to move, I still experience this but can easily move on, no ne is really perfect that he can play with money that you can afford to lose sometimes you are taking a risk.

[Don Pedro Dinero]

It is sad to see what's happened to romero121.

I also suffered from this kind of loss I kept it to myself for too long and that's harm my health and my thinking you have to open up and admit this behavior for you to move, I still experience this but can easily move on, no ne is really perfect that he can play with money that you can afford to lose sometimes you are taking a risk.

So I take it from what you say that although sometimes you end up losing more than you can afford, it's not a catastrophe for your finances and it doesn't happen very often. Is that so?

I actually believe that there are no or very few people who behave perfectly rationally. Everyone at some point commits some excesses that we had not foreseen, the important thing is not to get out of control.

[Pamadar]

It is sad to see what's happened to romero121.

I also suffered from this kind of loss I kept it to myself for too long and that's harm my health and my thinking you have to open up and admit this behavior for you to move, I still experience this but can easily move on, no ne is really perfect that he can play with money that you can afford to lose sometimes you are taking a risk.

So I take it from what you say that although sometimes you end up losing more than you can afford, it's not a catastrophe for your finances and it doesn't happen very often. Is that so?

I actually believe that there are no or very few people who behave perfectly rationally. Everyone at some point commits some excesses that we had not foreseen, the important thing is not to get out of control.

Very important because if we continue playing without proper control, we are leading our way

in busting everything we have, it's true that there are times we suffer from unexpected losses, budget that are not allocated
for your gambling, but due to excessive playing, we did burn our bankroll.

It's important not to dwell with that losses and try not to behave the same, addictions will push you and that's the need of
good control to avoid messing up everything in terms of your finances.

[Franctoshi]

That's gambling for you it's a game of luck sometimes you win sometimes you loose,
So take the outcome and learn from your mistakes and play smart next time so you can profit,
There is always a next opportunity.Or You can venture into other things if it isn't working out for you.

[MonaLeeTracy]

---

the question is why did he gamble it if it's meant for someone as payment?  there were lots of stories like this in the past where someone took a loan to pay for a loan but instead gamble the money and lose. he instead has to person to pay. a movie like "SHARK TALE" is one of it where he asks for money from his girl to pay a loan shark but then he took a chance in a horse race. lose the bet.

sounds like a gambling problem. one solution for this is to sell his priced possession, we all have priced possession to pay the debt.

Maybe the OP wants to try his luck before paying the debt, his intention is to double the money. But what happened was the opposite, the money that was supposed to pay off debts was wasted due to gambling bets.

The OP error was:
First: he thinks can double the money from gambling bets, when in fact gambling never promises a win.

Second : Op used the money that was supposed to pay off debts, after the money runs out due to losing bets, The new Op thinks that he should pay off the interest too.

[Mauser]

It was almost two months hard earned money. Got busted in few minutes. I don't know why I wasn't able to have me within the limits. Just started with a $3 bet, but it went upto $98 and ended with empty wallet. This is completely unlucky, because every bets were placed to roll above 20 which means the winning probability is quite high. Anyhow I wasn't in control and I didn't follow the rule gamble what you can afford to loss. It was a money saved to repay a debt. Now once again the interest needs to be paid so to manage the debt for some more time. Unlucky me 

That sounds really unlucky, sorry read that your start in gambling was so devastating. It's a bit hard to fully understand what happened to you. From your post I get that your starting bet was $3 and your highest bet was $98, how much was your bankroll? $1000 or $2000? The first thing what is alarming to me is that you got busted in a few minutes. That should never happen. Your starting bets where probably way to big for your overall bankroll. Whenever you gamble you need to anticipate to lose a few games in a row. If you start betting too large and  it will be impossible to recover any losses later on. Maybe it would have been better if you start with a 0.25 or 0.5$ bet? Like that you are less at risk to go broke and can run more bets.  It's good that you realised that you weren't in control, unfortunately that happens a lot in gambling when you try it out for the first time. Games in online casinos go much fast than in a physical casino, so we need to be more in control of ourselves. Managing emotions and not only focusing on possible wins is very important in gambling. I hope you can save more money in the future and be a bit more cautious next time you try gambling. Good luck in your next gambling adventures.

[madnessteat]

~snip~

If you can not control yourself while gambling then you already have a gambling addiction. And instead of complaining on a forum about bad luck, find the strength to admit that all this is your fault and seek help from professionals who will help you without too much suffering to get rid of the pernicious effects of gambling addiction.

[pakhitheboss]

The problem is that when you lose the urge of winning increases. This is when anyone will start making foolish mistake thinking that the next roll will recover the loss. It happens to many people but the only way out is to stop and close the screen. What happened is another lesson for you to stop using the money before it is too late. Hope you learn from your mistakes.

[Darker45]

You must have been with gambling for quite a while and yet sometimes you still lose control of yourself and your urges. There's no one to be blamed, of course, but yourself. However, it's not just you who have gone through such experience. I myself have lost patience and made huge bets without any kind of analysis all because I had a losing streak. I have this urge to blindly and desperately gamble with bigger amounts whenever my bets are losing one after another. But the only difference here is that you are gambling with a money intended to pay a debt. That's a big no no for me.

[MonsterV]

It is known that problems almost never arise in the beginning. Or at least almost never. Everyone wants to play with a low stake and limit. But then the inevitable happens; the money has run out. What are you doing then? Some players think it's good enough and give up and continue to play with low amounts for fun. The large group, however, raises the stakes and by now we all know how that often ends. It is more common than people think that players gamble entire capitals and bank accounts through it with all the consequences that entails. Great social impact in private and business sphere.

[tabas]

That's gambling for you it's a game of luck sometimes you win sometimes you loose,
So take the outcome and learn from your mistakes and play smart next time so you can profit,

Playing smartly in a manner that he can manage his own that spending money ain't for gambling shouldn't be done. Yeah, a lesson that will teach him to become better if he tries again next time.

There is always a next opportunity.Or You can venture into other things if it isn't working out for you.

But before that, he has to make sure that there's no more debt that's waiting for him and he has to get himself out of it first.

[madnessteat]

It is known that problems almost never arise in the beginning. Or at least almost never. Everyone wants to play with a low stake and limit. But then the inevitable happens; the money has run out. What are you doing then? Some players think it's good enough and give up and continue to play with low amounts for fun. The large group, however, raises the stakes and by now we all know how that often ends. It is more common than people think that players gamble entire capitals and bank accounts through it with all the consequences that entails. Great social impact in private and business sphere.

That is why you need to cultivate a sense of proportion and before the game to determine for yourself the maximum bankroll and the maximum bet size. It cannot be said that adherence to your original strategy throughout the game will help you win at the casino, but with such a simple tool you can educate yourself in the willpower that can not break even the most exciting game of chance.

[Smartprofit]

It is known that problems almost never arise in the beginning. Or at least almost never. Everyone wants to play with a low stake and limit. But then the inevitable happens; the money has run out. What are you doing then? Some players think it's good enough and give up and continue to play with low amounts for fun. The large group, however, raises the stakes and by now we all know how that often ends. It is more common than people think that players gamble entire capitals and bank accounts through it with all the consequences that entails. Great social impact in private and business sphere.

That is why you need to cultivate a sense of proportion and before the game to determine for yourself the maximum bankroll and the maximum bet size. It cannot be said that adherence to your original strategy throughout the game will help you win at the casino, but with such a simple tool you can educate yourself in the willpower that can not break even the most exciting game of chance.

I think you need to be able to lose. 

Many people do not like to lose at gambling.  They believe that they should always win.  They think only fools lose. 

However, this is an illusion.  Wrong attitude towards the world....

It's impossible to always win.  You need to be able to stop in time and fix losses.  Gambling is based on luck.  Failed to win today - be sure to be lucky tomorrow!  It's like a zebra - one stripe is black, the other is white.  Victory is followed by defeat (and vice versa). 

The player must be a philosopher.  If you are gambling, you cannot avoid losing your bet. 

It is absolutely normal to lose your money from time to time.  The most important thing is not to lose too much money.

[buwaytress]

You know what they say OP. If you can't afford to lose it, don't gamble with it. Always put in for a bet what you expect to lose. The win's a bonus, anything else should be accounted for.

And if you don't know what they say? Then you shouldn't be gambling =) Still, lesson learnt for less than $100 is a great bargain, so consider yourself well made. Allow me to pat yourself on the back for that.