Hard earned money - Busted in seconds

[ipanks]

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It is very rare for people to get rich from gambling and most of them lose a lot of money, especially people who gamble more than anyone else. That is why you need to have control over yourself so that you can minimize your loss of money in gambling and you can still enjoy playing gambling. If we manage to get a lot of winning money, then we must stop immediately and never try to press the Roll button, even if only once, because it will make us tempted to press it continuously.

[goldkingcoiner]

So how much did OP lose actually? I am quite curious as to the full amount he did not say.

Either way, I know the feeling. I have lost more than 2 months of hard earned/saved money and most of it went towards not even a good game.

I wonder, do crypto casinos offer monthly spending limits? I think that would be a very good idea since a lot of people have developed gambling problems and need a way to stop their gambling losing streaks after a certain amount. I know I would definitely benefit from such a function.

The online gambling casino would probably lose money like that, so I doubt they would offer such convenient services to their customers.

[KTChampions]

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.

Basically, they don't test their luck, they try to get adrenaline (and they succeed). Another thing is that such thrills require constant replenishment, including by increasing the bet. In general, there are many different scenarios, but in a very rare case, you can accuse someone of stupidity and misunderstanding of elementary things - people know what they are doing.

[asus09]

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It is very rare for people to get rich from gambling and most of them lose a lot of money, especially people who gamble more than anyone else. That is why you need to have control over yourself so that you can minimize your loss of money in gambling and you can still enjoy playing gambling. If we manage to get a lot of winning money, then we must stop immediately and never try to press the Roll button, even if only once, because it will make us tempted to press it continuously.

I totally agree with your review, it is very rare for rich people to play gambling, because most of us when we play gambling it is very difficult to control ourselves, most of the money runs out in seconds, I personally have experienced something similar, my life was destroyed in a matter of seconds. a matter of seconds, even the money to invest I withdraw for me to play gambling, learn from existing experience, I have now learned to take care of myself to be able to cope with gambling.

[decodx]

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.

Basically, they don't test their luck, they try to get adrenaline (and they succeed). Another thing is that such thrills require constant replenishment, including by increasing the bet. In general, there are many different scenarios, but in a very rare case, you can accuse someone of stupidity and misunderstanding of elementary things - people know what they are doing.

Many gamblers who enjoy getting adrenaline, thrill and excitement of gambling use the risks of losing money as an intoxicating drug. Most of them want to feel the excitement as a "relief" (like having sex) and they don't want to spend time thinking what's happening with their money.

This habit of betting is very dangerous, and many people end up with big losses. Even worse, their attitude with the losses will be extremely negative. This tendency to get addicted, and the consequent extreme risk-taking, can be another sign of gambling addiction.

Very often, people begin their gambling career with one of the most common reasons - to make money. Their strategies may be simple and casual, and in the beginning they may feel pretty successful. After some time, they may become quite greedy, and the greed will cause them to lose much more than their desired amount. At that point, the gambling may lead to total failure and bankruptcy.

[pawanjain]

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's what happens when we don't follow the basic rules of gambling. But I think you have learnt your lesson.
Most of us have faced this because of the uncontrollable urge to recover the money we lost in the previous bets.
Thus we end up using all our money to recover the amount we used since the start of gambling.
But it's better to limit our losses for the day and come back another day if we are losing a lot on a particular day.
Controlling the emotions is where many fail and hence lose all their money.

[madnessteat]

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.

So your goal was to try to beat the casino and I pursue a completely different goal - to develop self-discipline and test the strength of my risk management when playing gambling. Of course I've had mistakes when I've lost large sums of money, but lately I've managed to control myself very well.

[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 

That's what happens when we don't follow the basic rules of gambling. But I think you have learnt your lesson.
Most of us have faced this because of the uncontrollable urge to recover the money we lost in the previous bets.
Thus we end up using all our money to recover the amount we used since the start of gambling.
But it's better to limit our losses for the day and come back another day if we are losing a lot on a particular day.
Controlling the emotions is where many fail and hence lose all their money.

The best lesson that will really sink is the one that will hurt us in OP's case, it's his pocket and of course, his motivation because he needs to work hard to pay the debt and the interest, this is money that you can't afford to lose, this is the kind of situation where no gamblers want to be in, it's ok if it's your own money but this is not your money and it is incurring interest.

[og kush420]

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's what happens when we don't follow the basic rules of gambling. But I think you have learnt your lesson.
Most of us have faced this because of the uncontrollable urge to recover the money we lost in the previous bets.
Thus we end up using all our money to recover the amount we used since the start of gambling.
But it's better to limit our losses for the day and come back another day if we are losing a lot on a particular day.
Controlling the emotions is where many fail and hence lose all their money.

The best lesson that will really sink is the one that will hurt us in OP's case, it's his pocket and of course, his motivation because he needs to work hard to pay the debt and the interest, this is money that you can't afford to lose, this is the kind of situation where no gamblers want to be in, it's ok if it's your own money but this is not your money and it is incurring interest.

In our country gambling is prohibited because one loose control and it is not a good sign.
I won't say to stay away from gambling but be very very careful who you gamble - sorry for your loss though.

[Fredomago]

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's what happens when we don't follow the basic rules of gambling. But I think you have learnt your lesson.
Most of us have faced this because of the uncontrollable urge to recover the money we lost in the previous bets.
Thus we end up using all our money to recover the amount we used since the start of gambling.
But it's better to limit our losses for the day and come back another day if we are losing a lot on a particular day.
Controlling the emotions is where many fail and hence lose all their money.

The best lesson that will really sink is the one that will hurt us in OP's case, it's his pocket and of course, his motivation because he needs to work hard to pay the debt and the interest, this is money that you can't afford to lose, this is the kind of situation where no gamblers want to be in, it's ok if it's your own money but this is not your money and it is incurring interest.

Yes, it will continue to haunt OP since he needed to pay the debt and possibly that additional interest, not easy to forget as he will always remember that mistake that he made while playing the game, in most cases, gamblers who can't move forward will be more aggressive in trying another shots and ended up losing more.

It's better for OP to move on and try to forget this bad fate that happened to him. Gambling is not a good place to try winning
decent amount of money, even you are just trying to enjoy and be entertained if you don't have good control, you'll end up losing
big amount of money.

[bitbollo]

...
 in most cases, gamblers who can't move forward will be more aggressive in trying another shots and ended up losing more.
...

the best solution in this case is just stop gambling at least for some months because it has become a negative and no longer pleasant experience. It is practically impossible to be able to recover such a large amount by "winning". On the contrary, it's relative easy take a greater risk by chasing the winnings.

[m2017]

So how much did OP lose actually? I am quite curious as to the full amount he did not say.

Apparently, this is a significant amount for him, if it is ~ 17% of his annual income.
The amount of the entire amount is not so important, since for people with different income levels, this will have a completely different meaning. For some it's not enough, for others it's a lot. The important thing is that this is his 2 months of work or ~17% of his annual income. So consider if a loss of 16-17% of income per year would be significant for your financial situation.

Either way, I know the feeling. I have lost more than 2 months of hard earned/saved money and most of it went towards not even a good game.

Sooner or later, every gambler is destined to face this feeling.

I wonder, do crypto casinos offer monthly spending limits? I think that would be a very good idea since a lot of people have developed gambling problems and need a way to stop their gambling losing streaks after a certain amount. I know I would definitely benefit from such a function.

I have doubts that crypto casinos will take this step, because it reduces their profitability. Why should they do something that directly affects profitability. I think it's more likely that casinos will make a monthly limit on winnings.

The online gambling casino would probably lose money like that, so I doubt they would offer such convenient services to their customers.

Absolutely.

[ipanks]

learn from existing experience, I have now learned to take care of myself to be able to cope with gambling.

You are lucky to be able to learn from the experience because not many people are willing to do it and realize what their mistakes are. They will even continue to gamble and not think about what will happen to them in the future. We will feel very sad if we lose money at the gambling table, moreover, the money comes from wins that we never thought of before. So before it's too late, we really need to learn from our previous experiences.

[Oasisman]

learn from existing experience, I have now learned to take care of myself to be able to cope with gambling.

You are lucky to be able to learn from the experience because not many people are willing to do it and realize what their mistakes are. They will even continue to gamble and not think about what will happen to them in the future. We will feel very sad if we lose money at the gambling table, moreover, the money comes from wins that we never thought of before. So before it's too late, we really need to learn from our previous experiences.

What mistake? Lossing your money to a lossing bet? That's not a mistake in gambling terms that's unlucky, and there's nothing to learn from there coz that's the nature in gambling sometimes you win sometimes you lose.
When you talk about learning from your mistakes in gambling, that's actually when you stop gambling coz you've realized how much money you lost because of gambling.

[Uang_kartal]

Op you are not the only one who feels that you are plunged into the world of gambling in a hurry with minimal capital but expect thousands or even millions of times over in a bad way (borrowing money or using emergency funds). with them with good thoughts, maybe in the future if you still want to play in this fantasy world, try to manage from the profits you get and say stop to yourself. This is not easy and you need to make peace with yourself. self desire to earn more. I learned this theory from binary options
if you feel that life is unfair, consider the money you have to compensate as your investment in future gambling trips as well as memories hhehehe

[xSkylarx]

learn from existing experience, I have now learned to take care of myself to be able to cope with gambling.

You are lucky to be able to learn from the experience because not many people are willing to do it and realize what their mistakes are. They will even continue to gamble and not think about what will happen to them in the future. We will feel very sad if we lose money at the gambling table, moreover, the money comes from wins that we never thought of before. So before it's too late, we really need to learn from our previous experiences.

What mistake? Lossing your money to a lossing bet? That's not a mistake in gambling terms that's unlucky, and there's nothing to learn from there coz that's the nature in gambling sometimes you win sometimes you lose.
When you talk about learning from your mistakes in gambling, that's actually when you stop gambling coz you've realized how much money you lost because of gambling.

Sometimes you win and you always lose. I agree that this is really the nature of gambling. You know, if you bet a certain amount, you are sure that you will lose that money and not expect a return. Also, the unlucky term is really based on luck. I think the right word really is loss because you really lose to it and accept it. Also, betting your money is a mistake because you are in the gambling world and you can really lose it. I think there are no mistakes in terms of gambling in that unless you are playing with a strategy, most of these are pure luck.

[Xxmodded]

...
 in most cases, gamblers who can't move forward will be more aggressive in trying another shots and ended up losing more.
...

the best solution in this case is just stop gambling at least for some months because it has become a negative and no longer pleasant experience. It is practically impossible to be able to recover such a large amount by "winning". On the contrary, it's relative easy take a greater risk by chasing the winnings.

Actually have some gambler mind when losing on casino try to recovery on next casino games, they not try for stopping because always have faith can recovery with how much loss by winning on gambling again. Although impossible they not care and keep borrowing much money for active on gambling and try recovery with how much loss before. Better with stop after losing much on casino gambling and finding new way for recovery with how much loss is better than try gambling again and loss much money on casino gambling.

[btc78]

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 

My Wife would kill me if I do this lol, because She is letting me doing everything in crypto but with her knowledge .
and she even allows me to gamble but with certain amount she will give me every Payday .
you did a very wrong move and I hope that you learned many things from that.
and will never allow your self from doing this same mistakes again or else ? i would call you an gambling addict .

[ipanks]

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Calm down, buddy. Losing money in gambling is not a mistake, but losing money continuously in gambling and not realizing, it is a mistake and will be a big mistake if you keep trying to play gambling. A lot can be learned in gambling, such as controlling yourself, limiting the use of money in gambling, learning game strategies if it is a game related to skill and so on.

Learning from our mistakes in gambling will make us careful about using money to gamble and we will limit the time and money that we will use to gamble.

[carlisle1]

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's what happens when we don't follow the basic rules of gambling. But I think you have learnt your lesson.
Most of us have faced this because of the uncontrollable urge to recover the money we lost in the previous bets.
Thus we end up using all our money to recover the amount we used since the start of gambling.
But it's better to limit our losses for the day and come back another day if we are losing a lot on a particular day.
Controlling the emotions is where many fail and hence lose all their money.

The best lesson that will really sink is the one that will hurt us in OP's case, it's his pocket and of course, his motivation because he needs to work hard to pay the debt and the interest, this is money that you can't afford to lose, this is the kind of situation where no gamblers want to be in, it's ok if it's your own money but this is not your money and it is incurring interest.

He needs to try working overtime or to find additional sources of income to pay that debt/loan that he mistakenly losses

while he was doing his gambling activities, there' nothing he can do now but to learn from that mistake and try not to allow

that to happened again, there are many people who also encounter same mistake, those who are not ready with how single

mistake can ruined your finances.