Hard earned money - Busted in seconds

[qwertyup23]

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 

Well, the fact that you started with $3 and you ended up with around $98 before you bust everything all out makes you lucky. You are considered to be that top 5% of the gamblers who were able to at least earn 3000% on their initial bets. Though that is very unfortunate that you lost all of your winnings, the experience and lesson that you learned is valuable to the point that it teaches you self-control and discipline on your gambling spree.

I remember a time when my brother experienced the same scenario as yours. He kept winning and winning and he forgot to actually stop which resulted to an absolute loss of everything. Though this happened, it actually taught him how to be patient with his gambling winnings in general.

[kaya11]

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 

Good for you that you haven't gone to somewhat in worst conditions after losing. I know someone who loses and take a loan to play again hoping to win it back, however end up losing again with additional debts to pay. I didn't knew people could be like that because of gambling addiction. Also this man is borrowing money from everyone in his family including close friends, with no second thoughts. I don't know if 6k USD is a big money for you but in my case it would really hurt me to lose it in an instant, and that is the case for this man I know.

[Xxmodded]

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 

Why not try stopping bet and I think every body will success stop with betting and I have try it, the same like you like betting with small fund from $3 until $20 each sport betting games. But after active on ever weekend football match I stop with betting and keep use my money for trading. Right now just enjoying with football match only without see and care with how bigger odds giving on ever week football match. I think you can stop from betting slowly although is not easy but if you have spent money for trading or investing is better thing than keep waste all your funds for betting.

Stopping is hard for gambler, maybe slowly minimize until the time will come that you'll be able to control yourself. I do gamble and made mistakes as well, but until now I'm still gambling and I never tend on stopping, however, the good news is that I'm able to control myself now, 100%.

Usually with gambler have been blood with betting hard for stopping and maybe good way by minimize funds using for gambling, maybe spent few dollar every day worth than have loss all your saving money, but need minimize less fund every day. Example when first day begin with 20$ maybe next day have minimize under $15 until can stop totally from gambling activities. Another way looking adventure or other activities how some gambler can forget with gambling, maybe camping to some place without have internet access the best way how top stop gambling.

[KTChampions]

Yes, this is not the only mechanism that works, but I think that this is the main mechanism at the stage when a person starts the game and cannot finish it until he wins a large amount or loses all the money. Nature forces him to chase victory to the end. If you played physical slots, you probably noticed that when symbols drop on the reel, it often turns out that literally one symbol is missing before winning, and this gives you great motivation to make one more spin and then another and another.

Haha. Yes, I am well aware of how we are lured by slot machines, but fortunately I have learned to stop in time. I remember when our country's casinos have not been moved to separate zones where gambling is allowed, I very well increased my deposit. My friends at the time were very surprised that I was able to stop and left the casino. Of course I still spent all the money I earned, only it was already in a strip bar and the money gave us a completely different emotion.

I don't think that that spending money was suboptimal - it was a good investment in memories, we all need that kind of spending sometimes   
By the way, it is really important not to go to extremes - on the one hand, not to be a crazy gambler and understand the principles of the game (and the mechanisms that encourage us to play). And on the other hand, allow yourself to spend on pleasures without thoughts that poison the mind: "I was deceived, I am losing money for the sake of momentary pleasures, this is wrong, etc."

[TheGreatPython]

If you're reckless to regain your previous losses and you're not taking your time on your bet you will likely lose all your money in seconds, it goes with the motivation, losing your money in seconds just mean that you are playing and taking a big chance with a huge amount which is not good you want it all or nothing, and we all know its hard to beat the house with that reckless attitude.

Our greed never let the common sense to be on the top which is the reason why we do crazy things and life risk after knowing the chances of results will be in the favour of us is very low. Atleast in the future we should not repeat the mistake so we won't stuck in this situation forever.

I believe that all people have their own greed but there are some people who cant just control their greed, that is why they got carried away and do the things that shouldn't be done. These type of people can feel regret and they can say to themselves that they won't do it again but I know that it's hard for them to stick with their promises.

There are times or at some point of their lives, where they can find themselves doing the same thing again. For those that are still on their right mind and aren't like that, it's good that they can come across a story like this one (the OP shared). They can visualize how hard it was, so they will not attempt to be in the same situation.

[Mahanton]

Yes, this is not the only mechanism that works, but I think that this is the main mechanism at the stage when a person starts the game and cannot finish it until he wins a large amount or loses all the money. Nature forces him to chase victory to the end. If you played physical slots, you probably noticed that when symbols drop on the reel, it often turns out that literally one symbol is missing before winning, and this gives you great motivation to make one more spin and then another and another.

Haha. Yes, I am well aware of how we are lured by slot machines, but fortunately I have learned to stop in time. I remember when our country's casinos have not been moved to separate zones where gambling is allowed, I very well increased my deposit. My friends at the time were very surprised that I was able to stop and left the casino. Of course I still spent all the money I earned, only it was already in a strip bar and the money gave us a completely different emotion.

I don't think that that spending money was suboptimal - it was a good investment in memories, we all need that kind of spending sometimes   
By the way, it is really important not to go to extremes - on the one hand, not to be a crazy gambler and understand the principles of the game (and the mechanisms that encourage us to play). And on the other hand, allow yourself to spend on pleasures without thoughts that poison the mind: "I was deceived, I am losing money for the sake of momentary pleasures, this is wrong, etc."

Having that boosted feeling on making out bets is something that you couldnt really that able to avoid for sometime even if we are really that new into gambling or not being noob into this
which i could say to be that normal but on the time that you are really making some realizations then this is where you do really be mindful into your next possible step or move.
Since you are already aware about possible bust up then you would really be careful on next time unless if your addiction is too severe then no one could really help you into this point.

[goinmerry]

I know someone who loses and take a loan to play again hoping to win it back, however end up losing again with additional debts to pay. I didn't knew people could be like that because of gambling addiction. Also this man is borrowing money from everyone in his family including close friends, with no second thoughts. I don't know if 6k USD is a big money for you but in my case it would really hurt me to lose it in an instant, and that is the case for this man I know.

That's one of the negative effects of gambling on people. It's called chasing the loss.

But in that situation, I will not blame why that happened because of gambling as we should be responsible at all times. That person you know falls into the trap and I feel sorry for that person. For some, it's really hard to battle the temptation especially when they are losing.

They will take loans and instead of winning, they will end up busted more. Only them can help themselves in that situation.

[Poker Player]

That's one of the negative effects of gambling on people. It's called chasing the loss.

...

They will take loans and instead of winning, they will end up busted more. Only them can help themselves in that situation.

Yeah, gambling and loans, what could go wrong? And on the top of that, poor self-control.

In gambling it has to be like in investments, do it only with money you don't need and can afford to lose. And I would say that even in gambling more, because your money is safer if you buy Bitcoin or shares of good companies than if you gamble, especially if you have little self-control.

[peter0425]

OP, I would say that you took a risk and it didn't favor you, and the problem is half solved because you took responsibility of the mistake.

Because he has no choice at all because after losing the funds in gambling it leaves HIM in miserable situation and it doubled His problem lol.

What is required of you is to focus on how the debt will be paid. And, remember not to make the-same mistake twice.

if you are going to gamble the funds that you supposed to be for debt then this called you Gambled for Gambling and that is a BS attitude that must never be again to take place .

[xSkylarx]

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 

Good for you that you haven't gone to somewhat in worst conditions after losing. I know someone who loses and take a loan to play again hoping to win it back, however end up losing again with additional debts to pay. I didn't knew people could be like that because of gambling addiction. Also this man is borrowing money from everyone in his family including close friends, with no second thoughts. I don't know if 6k USD is a big money for you but in my case it would really hurt me to lose it in an instant, and that is the case for this man I know.

Only the most wealthy one wont be hurt if losing a 6k . Money is what we really need now a days even losing small money still can hurt your but having a loan to just play and try to win back losses is really dumb and at the same time it can hurt you, not just you but also your family could be hurt because of what have you done . This kind of people should be taken to a rehabilitation center to overcome this addiction

[ipanks]

When you can earn money from gambling but do not stop as soon as possible, the chance to lose the win money will be bigger and will be there because the next round can be the bad round that can make you get lost. So before you experience the loss, it is better to save your win money and enjoy the winning moment. Only by doing that, you can prevent losing the win money.

[Kasabus]

When you can earn money from gambling but do not stop as soon as possible, the chance to lose the win money will be bigger and will be there because the next round can be the bad round that can make you get lost. So before you experience the loss, it is better to save your win money and enjoy the winning moment. Only by doing that, you can prevent losing the win money.

I'd rather think of disciplining myself when I'm losing than when I'm winning. As they say, seize the moment because when you are lucky, you might be able to win more money and if you ended up losing, at least you had a chance to win big money. On the other side, if you are losing, just don't chase, instead, keep within your limit so you'll not be too desperate in the end and you might end up gambling on what you cannot afford to lose anymore.

[Finestream]

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 happens to most of the gamblers who failed to control their emotions and end up losing them all. What makes it worst is that you gamble your money that is intended to pay your debt, maybe hoping to double the amount, and for me not just you're unlucky but you are also very wrong with your decision making. You just have to gamble your extra money, and not those intended to pay your bills. But anyways, take a break first before you attempt to gamble again. Find good means that will generate an income so that you can start even paying the interest of your loan.

[Erumo]

Lets call topic started back here and ask what gambling rules he has violated from his point of view. Or let list them by ourselves.

1) gamble only with funds you allow yourself to lose
2) gamble and emotions does not come together
3) gambling and loans are no-no
4) know when to stop.

[blockman]

When you can earn money from gambling but do not stop as soon as possible, the chance to lose the win money will be bigger and will be there because the next round can be the bad round that can make you get lost.

You will definitely going to be wiped out if that's what you'll do when you're already winning but you don't save those winnings you've got.

So before you experience the loss, it is better to save your win money and enjoy the winning moment. Only by doing that, you can prevent losing the win money.

These tips are always being said. But if you're on the momentum, you'll forget about this tip and then you'll just get on the losses that you'll eventually get.

[Wind_FURY]

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 sometimes think only the rich people should be gambling but in reality it is the exact opposite. Rich people almost never gamble but poor people gamble with the money they don’t own. This is a pretty sad case. Rich people only play the games which they will win. It is not a surprise, that's how they get rich.  

it is not a "rich person" approach but it is the correct approach in gambling! or not to care about the amount you lose, but play a figure that you can lose without the slightest regret, without even taking it into account in your spending budget!

A truly rich person approach would be to own the casino in which you are gambling in, using the money you earned from the plebs to earn more money. Although the owner shouldn't be winning all the plebs' money all in one session of gambling. It should be done softly, and slowly.

I believe it's the same with centralized cryptocurrency exchanges. Has anyone suspected that the operators of some exchanges might be taking the other side of the trade against you? In casinos, at least you know you are playing against the house.

[LogitechMouse]

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 sometimes think only the rich people should be gambling but in reality it is the exact opposite. Rich people almost never gamble but poor people gamble with the money they don’t own. This is a pretty sad case. Rich people only play the games which they will win. It is not a surprise, that's how they get rich. 

Most of the rich people are businessmen right? Since most of them are businessmen, they know how it works and its business model thus they will not risk their hard earned money just to gamble. Though we see some rich people gambling still, they are just gambling for fun for sure and those poor and average people are gambling for money.

The problem with average and poor Joe's is that they think gambling as their ticket to be rich where in fact it isn't but its the complete opposite. Gambling is their ticket to be poorer.

Its not related to the topic but its under gambling as well. I've seen people that has addicted into gambling here in our country that has been reported in news. The reason? They are stealing money from other people. They are fighting against their family for some reasons (they have mental issues because of gambling). Some are even going to jail because they are doing bad things. These are just some of the negative effects of gambling. I'm not saying though that don't gambling since its our decision but gamble moderately.

[mirakal]

OP, I would say that you took a risk and it didn't favor you, and the problem is half solved because you took responsibility of the mistake. What is required of you is to focus on how the debt will be paid. And, remember not to make the-same mistake twice.

The bigger problem is when you use money intended to pay a debt in gambling it's like losing your money and you have to start all over again, and I'm sure OP will learn his lesson well and he will be better, not really a new experience, many gamblers also experienced the same thing the hardest thing and something that must happen is to move on and get better.

Using funds that aren't allocated for gambling will surely cause trouble. You can't have your money back and your focus should be on the debt that you have to pay. You should take this experience as a lesson that gambling has a huge risk. You better be wise in making decisions in the future if you don't want to regret things in the end.

You certainly have a point because chances are that money would only go to waste and because of greed or wanting to get that money lost, people tend to go for debts just to get that money back and little did they know that they are slowly digging their own holes. I mean it's really fine to gamble some few extra money, just make sure that you know when and how to stop as we don't want to regret something later.

[mindrust]

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 sometimes think only the rich people should be gambling but in reality it is the exact opposite. Rich people almost never gamble but poor people gamble with the money they don’t own. This is a pretty sad case. Rich people only play the games which they will win. It is not a surprise, that's how they get rich. 

Most of the rich people are businessmen right? Since most of them are businessmen, they know how it works and its business model thus they will not risk their hard earned money just to gamble. Though we see some rich people gambling still, they are just gambling for fun for sure and those poor and average people are gambling for money.

The problem with average and poor Joe's is that they think gambling as their ticket to be rich where in fact it isn't but its the complete opposite. Gambling is their ticket to be poorer.

Its not related to the topic but its under gambling as well. I've seen people that has addicted into gambling here in our country that has been reported in news. The reason? They are stealing money from other people. They are fighting against their family for some reasons (they have mental issues because of gambling). Some are even going to jail because they are doing bad things. These are just some of the negative effects of gambling. I'm not saying though that don't gambling since its our decision but gamble moderately.

It is like how you said. Businessman are smart people, smart people do understand how gambling works. In a casino the odds are stacked against you unless you are the house. The sooner you understand this, the better control you'll have over your wealth. People who don't understand this simple fact think that they can become rich from gambling as a player. Obviously they are not smart at all.

[carlisle1]

You certainly have a point because chances are that money would only go to waste and because of greed or wanting to get that money lost, people tend to go for debts just to get that money back and little did they know that they are slowly digging their own holes. I mean it's really fine to gamble some few extra money, just make sure that you know when and how to stop as we don't want to regret something later.

There are cases that gamblers take un-imaginary loans and lose it all to gambling, all start from being greed and un-controlled

gambling activities. There are chances that addictions will affect not just the gambler but all those people behind him. It's all better

to take the entertaining part and not to think that gambling can bring you huge amounts of money. Only luck can do that, but who

knows when luck will come your way and until when that luck will let you win