Hard earned money - Busted in seconds

[joeperry]

This is one of the basic rules that I use when gambling. Immediately after any significant winnings I leave the casino. But according to my statistics, even this rule does not allow me to get rich by gambling. This approach allows you to spend money somewhere else and enjoy it rather than lose every last cent and leave the casino with nothing.

I agree with that but I don't just leave the casino and move to other gambling site but I withdraw it with no chance of playing those credits that I withdraw since my strategy before is if I win a significant amount I withdraw it and move to other gambling site which I lose at some point so I think this rule is good for not much of a gambler players.

[Yamifoud]

I have heard many of these stories before.... people posting in gambling chat that they started with $5 and they pushed it to $150 and then losing that money within a few minutes. I think we are greedy and as soon as you won something big, you increase your bet size and you lose it quicker. 

The old saying that says.... "The Only gambler that win, is the one that stops playing after a huge win" is so true. We win big.... and over time the casino just take back the winnings over time, because we do not stop playing. 

This is one of the basic rules that I use when gambling. Immediately after any significant winnings I leave the casino. But according to my statistics, even this rule does not allow me to get rich by gambling. This approach allows you to spend money somewhere else and enjoy it rather than lose every last cent and leave the casino with nothing.

I agree with that but I don't just leave the casino and move to other gambling site but I withdraw it with no chance of playing those credits that I withdraw since my strategy before is if I win a significant amount I withdraw it and move to other gambling site which I lose at some point so I think this rule is good for not much of a gambler players.

Looks like a superstitious belief, some gamblers really think that way, but it's their style and they are comfortable with it. As for me, I'm loyal with the gambling site I'm using as the more I gamble the more chance my level will increase and enjoy the promotion the site have for their loyal gamblers.

[mm2543363580]

I have heard many of these stories before.... people posting in gambling chat that they started with $5 and they pushed it to $150 and then losing that money within a few minutes. I think we are greedy and as soon as you won something big, you increase your bet size and you lose it quicker. 

The old saying that says.... "The Only gambler that win, is the one that stops playing after a huge win" is so true. We win big.... and over time the casino just take back the winnings over time, because we do not stop playing. 

This is one of the basic rules that I use when gambling. Immediately after any significant winnings I leave the casino. But according to my statistics, even this rule does not allow me to get rich by gambling. This approach allows you to spend money somewhere else and enjoy it rather than lose every last cent and leave the casino with nothing.

One should not be greedy - I liked the approach of leaving the casino after winning.
The more you push and the more impulsive you become - there are grim chances that you win. So play safe!

[TheGreatPython]

You looks losing bigger fund on crypto gambling but right now still active or have stop yet on casino gambling, I ever loss on gambling but still not really bigger funds and have top totally right now what ever reason I don't try back to gambling casino again. I think not good with waste all salary for gambling and better if can't leave casino gambling yet could use few fund for gambling only after 70% until 80% salary saving for daily day needed. But depending when you still single easy for wasting all money for gambling but after have family and kids you will think one more all in on gambling.

He's an active gambler and losing $5K for 8-9 years is considered as small amount to be honest, someone can lose bigger than for a day. The thing is $5K at that time is 10 BTC and now 10 BTC with the current price is really high amount. It's not about gambling, but he's not holding his Bitcoin until now, same as many people sold their Bitcoin on 10 years ago. If someone worried to lose money on gambling, better to not gamble anything. However I don't understand why you promoting gambling but you're want to stay away from gambling.

Maybe not active in a sense that he plays every single day straight for 8 to 9 years because indeed the amount of 5k spent during that span of time is still pretty cheap. A true active gambler can spend more than that even if not 8 or 9 years but only for just a few months. Can you imagine that?

And no, I am not only talking about the rich gamblers but poor gamblers are in fact more hungry towards earning a profit on gambling and they can always borrow money for the sake of their entertainment and yes, that's their definition of entertainment, to seek for profits, not someone that just play small and don't expect any win at the end of the day.

[Kingsyoung]

That's really a sad one ... Gambling can do one really bad sometimes!

[Boristhecat]

I have heard many of these stories before.... people posting in gambling chat that they started with $5 and they pushed it to $150 and then losing that money within a few minutes. I think we are greedy and as soon as you won something big, you increase your bet size and you lose it quicker. 

The old saying that says.... "The Only gambler that win, is the one that stops playing after a huge win" is so true. We win big.... and over time the casino just take back the winnings over time, because we do not stop playing. 

It seems to me that from the first message in the thread it is obvious that he did not get a big win (and win in general) - he got on an unsuccessful series and tried to win back by raising the bet. He was unlucky and lost everything. Your proverb is true (for some cases) but very dangerous - if you follow it, you can lose all the money before the big win is received.

[molsewid]

This is one of the basic rules that I use when gambling. Immediately after any significant winnings I leave the casino. But according to my statistics, even this rule does not allow me to get rich by gambling. This approach allows you to spend money somewhere else and enjoy it rather than lose every last cent and leave the casino with nothing.

It might be the because you have the discipline in yourself , you have that threshold if you reach that you will stop. It is very hard for us to stop if we feel that it is our momentum , when we feel this emotion we will start to bet and bet even though our profit from our previous game is already gone we still play for us to gain more and get what we lose, a player discipline has the biggest role in gambling.

[suzanne5223]

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.

That's the technical principle of gambling and every gambler that never understands this will always go from grace to grass because she\he never gambles with the needed strategy to prevent loss.
There's a difference between understanding the rules of the game and understanding the rules of gambling profitable.
I have played game several on Roobet and when lucky on my side I always withdraw first my initial deposit with profit so I can gamble with ease and have nothing to worry about.

This is completely unlucky, because every bets were placed to roll above 20 which means the winning probability is quite high.

The winning probability can be high but the chance of winning every game is always 1%

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 problem starts from you not knowing when to stop the game or stop for some minute get back to the game maybe you can have the thought of withdraw.

[Marvelman]

This is completely unlucky, because every bets were placed to roll above 20 which means the winning probability is quite high.

The winning probability can be high but the chance of winning every game is always 1%

And how did you come to that? I don't think the chance of winning every game can be the same. Not unless all casino games are rigged.
If you bet on 1.1x the chances of winning must be higher than if you bet 99x, right?

[d3nz]

This is one of the basic rules that I use when gambling. Immediately after any significant winnings I leave the casino. But according to my statistics, even this rule does not allow me to get rich by gambling. This approach allows you to spend money somewhere else and enjoy it rather than lose every last cent and leave the casino with nothing.

It might be the because you have the discipline in yourself , you have that threshold if you reach that you will stop. It is very hard for us to stop if we feel that it is our momentum , when we feel this emotion we will start to bet and bet even though our profit from our previous game is already gone we still play for us to gain more and get what we lose, a player discipline has the biggest role in gambling.

That's the problem when it comes to gambling, you cannot control yourself if you think it's your lucky day and gets excited to win more which will take more risk of losing. It would be much better if you know the gambling psychology and know when to gamble since losing our hard-earned money is really bad it will affect our emotions. Gambling is really addictive and you will get more losses than winning since it is a game of luck, but it would be much better to know how to play the game and make a strategic plan to avoid and lessen the loss which you will learn more about.

[mirakal]

I have heard many of these stories before.... people posting in gambling chat that they started with $5 and they pushed it to $150 and then losing that money within a few minutes. I think we are greedy and as soon as you won something big, you increase your bet size and you lose it quicker. 

The old saying that says.... "The Only gambler that win, is the one that stops playing after a huge win" is so true. We win big.... and over time the casino just take back the winnings over time, because we do not stop playing. 

This is one of the basic rules that I use when gambling. Immediately after any significant winnings I leave the casino. But according to my statistics, even this rule does not allow me to get rich by gambling. This approach allows you to spend money somewhere else and enjoy it rather than lose every last cent and leave the casino with nothing.

That's pretty much better because you know how to control your gambling activities and know when is exactly the time to stop, but for others that  gamble regularly, that simple strategy/rule is really that hard for them because most gamblers became more greedy especially if they've received some huge winnings as they believe it was their luck that day.

[KTChampions]

It is quite obvious that if I do not want to lose money then I should not gamble. Gambling is entertainment, not earnings, the one who thinks otherwise and "invents" strategies to beat the casino is engaged in self-deception. There are some ways to make money in the casino, but this has nothing to do with gambling and is also painstaking work.

The majority of gamblers are not stupid, and know full well that the odds are stacked against them.  It is their lack of self-discipline that makes them stick to their bad habits. The bottom line is that gamblers lose money and there is nothing anybody can do to change that. But some people, on the other hand, will persist in gambling regardless of their losses. They are enjoying the "high" of winning and therefore they continue gambling.

Don't get me wrong, I am not advocating against gambling, but many people – including myself sometimes – like gambling for its thrill. We like games and risk. It is part of the human nature, but we have to know how to balance it in our lives and always be cognizant of the dangers.

This is a difficult theoretical question 
The problem is that "knowing the right thing" and "doing the right thing" are so different things that sometimes they don't intersect at all. Therefore, "not stupid" gamblers, who seem to understand everything, nevertheless make childish mistakes. This happens for various reasons, but also because being "theoretically" smart and acting smart in practice are two different things.

[romero121]

I have heard many of these stories before.... people posting in gambling chat that they started with $5 and they pushed it to $150 and then losing that money within a few minutes. I think we are greedy and as soon as you won something big, you increase your bet size and you lose it quicker. 

The old saying that says.... "The Only gambler that win, is the one that stops playing after a huge win" is so true. We win big.... and over time the casino just take back the winnings over time, because we do not stop playing. 

This is one of the basic rules that I use when gambling. Immediately after any significant winnings I leave the casino. But according to my statistics, even this rule does not allow me to get rich by gambling. This approach allows you to spend money somewhere else and enjoy it rather than lose every last cent and leave the casino with nothing.

That's pretty much better because you know how to control your gambling activities and know when is exactly the time to stop, but for others that  gamble regularly, that simple strategy/rule is really that hard for them because most gamblers became more greedy especially if they've received some huge winnings as they believe it was their luck that day.

Gamblers who regularly gamble could be having big experience on how to spend and when to take break. Also, just because there is a winning streak they never intend to continue to gamble. What have been mentioned in the above quote is much connected to the common gamblers who think of making money regularly. Consider me, I enter when there is need of money and used to loss everything.

[Viscore]

Happening again like this, even I shouldn't be right to say something like this and indeed this can be called a prerogative to have tutored someone who was here first but you need to look at some people who have been addicted to gambling and it didn't end well.
I think you know enough about it and let's just take it as a mistake and a reminder that you made such mistakes only in your short mind.
regret always comes at the end but regret without change of course this will not make meaningful results for your life

They say all that is overused is already harmful, and that is gambling definitely looks like. We may profit in the start, but at the end of the day all our profits may only turn into losses, and that's because of addiction. You are not alone in this situation OP, most of the gamblers have experienced this but the good thing is, others have overcome their addiction and start to gamble what they can afford to lose. Maybe a single mistake is needed first before a gambler learns his own lesson.

[Tumanggor]

That's really a sad one ... Gambling can do one really bad sometimes!

There are two types of gamblers in the casino who come out when they have finished playing, one is the loser and one is the winner

If you can't control your emotions, manage your finances and are curious about your losses when playing at a casino (be it online or offline) then gambling is a thing that will never be good for you, it will continue to lead you to deep losses

[judeafante]

This is one of the basic rules that I use when gambling. Immediately after any significant winnings I leave the casino. But according to my statistics, even this rule does not allow me to get rich by gambling. This approach allows you to spend money somewhere else and enjoy it rather than lose every last cent and leave the casino with nothing.

I am also doing the same it's hard to do when you are starting out, quitting at the right time or before you lose money and your mind, but once you established control and the habit, things will be easy and you enjoy the game, you only play with money that you can afford to lose, although the hardest thing is quitting when you are winning, quitting when you are losing is easy for me.

[harizen]

This is a difficult theoretical question  
The problem is that "knowing the right thing" and "doing the right thing" are so different things that sometimes they don't intersect at all. Therefore, "not stupid" gamblers, who seem to understand everything, nevertheless make childish mistakes. This happens for various reasons, but also because being "theoretically" smart and acting smart in practice are two different things.

Honestly, the majority:

- know the right thing to do,  
- they understand the risks,
- they know the consequences,
- they know what will be the result of what they're doing

... but since they want to test their luck, they will disregard these as what if they won? That's another story.

However, the most common and usual result is losing and there is no other thing to do but to accept the loss and move on.

[South Park]

This is a difficult theoretical question  
The problem is that "knowing the right thing" and "doing the right thing" are so different things that sometimes they don't intersect at all. Therefore, "not stupid" gamblers, who seem to understand everything, nevertheless make childish mistakes. This happens for various reasons, but also because being "theoretically" smart and acting smart in practice are two different things.

Honestly, the majority:

- know the right thing to do,  
- they understand the risks,
- they know the consequences,
- they know what will be the result of what they're doing

... but since they want to test their luck, they will disregard these as what if they won? That's another story.

However, the most common and usual result is losing and there is no other thing to do but to accept the loss and move on.

One thing I have noticed is that even if people can understand something at an intellectual level once they are the ones that are faced with a decision they will simply go with their feelings even if they know that what they are doing is not precisely the best choice, basically they believe they are some kind of exception to the rule and they can afford to take more risks than the average person, and then once they find out this is not the case they get mad this was not the case, even when they know that what the did was wrong.

[Ahli38]

It is quite obvious that if I do not want to lose money then I should not gamble. Gambling is entertainment, not earnings, the one who thinks otherwise and "invents" strategies to beat the casino is engaged in self-deception. There are some ways to make money in the casino, but this has nothing to do with gambling and is also painstaking work.

The majority of gamblers are not stupid, and know full well that the odds are stacked against them.  It is their lack of self-discipline that makes them stick to their bad habits. The bottom line is that gamblers lose money and there is nothing anybody can do to change that. But some people, on the other hand, will persist in gambling regardless of their losses. They are enjoying the "high" of winning and therefore they continue gambling.

Don't get me wrong, I am not advocating against gambling, but many people – including myself sometimes – like gambling for its thrill. We like games and risk. It is part of the human nature, but we have to know how to balance it in our lives and always be cognizant of the dangers.

This is a difficult theoretical question 
The problem is that "knowing the right thing" and "doing the right thing" are so different things that sometimes they don't intersect at all. Therefore, "not stupid" gamblers, who seem to understand everything, nevertheless make childish mistakes. This happens for various reasons, but also because being "theoretically" smart and acting smart in practice are two different things.

indeed gamblers can not be said to be stupid. because they know the risks they are taking. and what opportunities do they get. I think they are very smart. they sometimes know which steps are wrong and which are right. but the fault is that in taking their actions they sometimes turn around or don't agree with their own thoughts. For example, A knows that the opportunity is very slim and the risk is greater. but just because person A knows it doesn't mean he will back down. even if he could move forward.
Well here we can say that the gambler's mind is smart. but emotionally those who are beginners are often carried away by emotions so that they ignore their logic or clever minds.
This is actually what I've experienced too. my emotions sometimes contradict my logic.

but this is precisely the uniqueness and pleasure in gambling. but my seniors they are more able to adjust their emotions and according to logic. so they always have a great opportunity with a commensurate risk.

and the true gamblers are those who like challenge and suspense.

[Naficopa]

Sad to hear. Although the idea was initially bad (trying to win money given that you have debt to service). I could be wrong, but judging by the amount of the bet, not everything is so bad and you can recover even just by keeping earnings from your signature.
In any case, thanks for your thread. Many gamblers brag about their winnings and the fact that you shared a loss will be useful for those who might think that everything is so simple and easy here.

very sad though - I would like to know what has OP learnt from his mistake. This is such a huge loss.
In our country gambling is prohibited due to the reason that one loose control and it results in the trouble for life. So we abstain from gambling and use our money very wisely. Also we are not rich so we take care of each penny - we can't afford losing even a single dime to the entertainment