Hard earned money - Busted in seconds

[Peanutswar]

This thread must have been opened by OP when he suddenly made a big bet and lost!

OP specifically stated that he was screwed at the end, this is an experience he had pass through and bring up for others to learn from his case, loosing money on playing bet isn't something new since it's a fifty by fifty chance of winning or loosing, most gamblers doesn't consider all these something new anymore because they are used to playing over time to win or several occasions or loose as well, but i think for a begginer or someone who vested a huge amount on a game to have lost the winning will definitely finds it disheartening enough, because playing bet is a gradual process, you start small and begin to increase your betting stakes before you know it turns to a huge amount for staking.

learn from experience, and learn from mistakes, each of us must have felt failure and fall, and lost consciousness while playing gambling, but if we want to learn from mistakes we will definitely get better, and can definitely control ourselves so that we avoid waste, we must remember our hard earned money, lest we spend it in vain.

Well in gambling its all about the luck too not all the time the luck is with us and giving a good profit as we play, having self-awareness is the most ideal thing to do such as having a limitation to ourselves. It is good like making a limitation for the deposit for a day and next if you think its not a good game why not make a step back there's nothing wrong with it than urging too much to get grind more back the losses. Discipline is the most essential and fundamental in gambling, emotions must need to set aside.

[CaVO32]

Well in gambling its all about the luck too not all the time the luck is with us and giving a good profit as we play, having self-awareness is the most ideal thing to do such as having a limitation to ourselves. It is good like making a limitation for the deposit for a day and next if you think its not a good game why not make a step back there's nothing wrong with it than urging too much to get grind more back the losses. Discipline is the most essential and fundamental in gambling, emotions must need to set aside.

Honestly, it is easy to give a piece of advise to someone when it comes to gambling. But when you are the one in this situation, I believe you will also make the same mistake. I am just basing on my own experience. I know, you need to set your limits if you are aiming to pay somebody or pay your bills. But when you are already deep in your game, what you will feel is you need to recover the losses and earn profits. And most of the time, you won't recover those losses and end up losing all if you will not stop chasing those losses.

[Ziskinberg]

Well in gambling its all about the luck too not all the time the luck is with us and giving a good profit as we play, having self-awareness is the most ideal thing to do such as having a limitation to ourselves. It is good like making a limitation for the deposit for a day and next if you think its not a good game why not make a step back there's nothing wrong with it than urging too much to get grind more back the losses. Discipline is the most essential and fundamental in gambling, emotions must need to set aside.

Honestly, it is easy to give a piece of advise to someone when it comes to gambling. But when you are the one in this situation, I believe you will also make the same mistake. I am just basing on my own experience. I know, you need to set your limits if you are aiming to pay somebody or pay your bills. But when you are already deep in your game, what you will feel is you need to recover the losses and earn profits. And most of the time, you won't recover those losses and end up losing all if you will not stop chasing those losses.

That's correct, even I was addicted before to gambling but I learn from my mistakes, it's not that easy but as you always continue to correct your mistakes, eventually you'll be able to train yourself on how to gamble responsibly. The main reason why we gets addicted is because of greediness, maybe we understand the risk but we don't calculate it, that's why we go beyond our limit.

[molsewid]

Well in gambling its all about the luck too not all the time the luck is with us and giving a good profit as we play, having self-awareness is the most ideal thing to do such as having a limitation to ourselves. It is good like making a limitation for the deposit for a day and next if you think its not a good game why not make a step back there's nothing wrong with it than urging too much to get grind more back the losses. Discipline is the most essential and fundamental in gambling, emotions must need to set aside.

Honestly, it is easy to give a piece of advise to someone when it comes to gambling. But when you are the one in this situation, I believe you will also make the same mistake. I am just basing on my own experience. I know, you need to set your limits if you are aiming to pay somebody or pay your bills. But when you are already deep in your game, what you will feel is you need to recover the losses and earn profits. And most of the time, you won't recover those losses and end up losing all if you will not stop chasing those losses.

Yes if we are in his feet sometimes we fall in this situation, when we gain something our brain tend to make us feel overwhelmed and that will result to make us play and play even though the odds are not in our favor. I think the feeling of winning hinder us to stop the game not the losses. I rarely play dice games and casinos, because I can't stop myself.

[UmerIdrees]

Well in gambling its all about the luck too not all the time the luck is with us and giving a good profit as we play, having self-awareness is the most ideal thing to do such as having a limitation to ourselves. It is good like making a limitation for the deposit for a day and next if you think its not a good game why not make a step back there's nothing wrong with it than urging too much to get grind more back the losses. Discipline is the most essential and fundamental in gambling, emotions must need to set aside.

Honestly, it is easy to give a piece of advise to someone when it comes to gambling. But when you are the one in this situation, I believe you will also make the same mistake. I am just basing on my own experience. I know, you need to set your limits if you are aiming to pay somebody or pay your bills. But when you are already deep in your game, what you will feel is you need to recover the losses and earn profits. And most of the time, you won't recover those losses and end up losing all if you will not stop chasing those losses.

That's correct, even I was addicted before to gambling but I learn from my mistakes, it's not that easy but as you always continue to correct your mistakes, eventually you'll be able to train yourself on how to gamble responsibly. The main reason why we gets addicted is because of greediness, maybe we understand the risk but we don't calculate it, that's why we go beyond our limit.

If we are able to control our greediness and emotions, we can succeed in gambling, trading, and many more things in life. The problem is that not many people have the ability to overcome greediness. It's human nature that we need quick money and for this purpose, we take risks without thinking the negative aspect of this. Most of the gamblers lose all their winning amount just because they are more greedy.

[savetheFORUM]

This is gambling. Whether you increase your winning chance to as high as 90% or reduce it to as low as 10%, the possibility of losing is always there. And in terms of money management in gambling, those adjustments almost make no difference at all.

Sometimes it is weird that 90% win chance gives you more losses than a 10% chance where you can hit it in a couple of bets. This is why I like to play with high odd games because to me they are less risky than chasing a small win and ended up risking more money on a low odd game although yeah it all boils down to money management because no matter what odds you play, low or high but if you don't know how to manage your money, you will always lose and possibly become an addicted gambler in no time.

I used to play dice more often but when I was new to the game, I almost couldn't believe that I could lose money even if I adjusted my winning possibility with a higher percentage.

That's a common mistake made by newbies. We think it was a scam but no, that's just normal in gambling. There are times that you can win more often in high chance but you should learn how to stop because those winnings can turn into losses the longer you play.

[madnessteat]

Well in gambling its all about the luck too not all the time the luck is with us and giving a good profit as we play, having self-awareness is the most ideal thing to do such as having a limitation to ourselves. It is good like making a limitation for the deposit for a day and next if you think its not a good game why not make a step back there's nothing wrong with it than urging too much to get grind more back the losses. Discipline is the most essential and fundamental in gambling, emotions must need to set aside.

Honestly, it is easy to give a piece of advise to someone when it comes to gambling. But when you are the one in this situation, I believe you will also make the same mistake. I am just basing on my own experience. I know, you need to set your limits if you are aiming to pay somebody or pay your bills. But when you are already deep in your game, what you will feel is you need to recover the losses and earn profits. And most of the time, you won't recover those losses and end up losing all if you will not stop chasing those losses.

In your example, it turns out that a man carried away with gambling forgets about his obligations that he had to fulfill but could not because he lost all the money. Such behavior can indicate two possible variants: carelessness or addiction to gambling. If he is thoughtless about his responsibilities no one will have anything to do with him, but if he is a gambling addict he urgently needs help from specialists. 

[Maestro75]

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  

You only lost $3 at the end which was your capital, so do not cry again. Gambling is a game of luck. There is no guarantee to what happens. It can go well or bad for anyone. There is that spirit of gambling which makes every loser go back to playing after losing and definitely you will return to it soon once your hurt heals. Next time you should make a decision to withdraw your winnings before placing more bets. That way you will not lose everything.

[nakamura12]

That's why you have to learn how to manage your own money. Just make a portion out of the total money you have like 50% save and the rest 50% will be divided among the choices you want like gambling, purchasing something or whatever you want with it. So when you started your bet at $3 then you still have money left even though you started to bet until $98 but still it's just a portion of your total money you have and you are just not lucky at the moment.

[seleme]

That's why you have to learn how to manage your own money. Just make a portion out of the total money you have like 50% save and the rest 50% will be divided among the choices you want like gambling, purchasing something or whatever you want with it. So when you started your bet at $3 then you still have money left even though you started to bet until $98 but still it's just a portion of your total money you have and you are just not lucky at the moment.

It doesn't work like that, gambler gonna find a way to get coins for addiction or to chase losses. Accepting loss is first part to be profitable gambler in the long run, the more you feel urge to deposit the chances will decrease to recover. Being lucky and spending only small percentage of salary can help but for addicted users it is not possible, unfortunately. There are many threads related to mentioned factor.

[VanityWallets2015]

It's a shame if you gamble a lot of money through it. Especially the moments after that when you realize that you have lost all your money. After that you have to be strong and make sure you don't gamble all your power through it again. Easier said than done of course. You should actually build in a self-protection by building in a certain budget. If you are not prone to addictions, you will not lose a lot of money quickly.

[Tumanggor]

That's why you have to learn how to manage your own money. Just make a portion out of the total money you have like 50% save and the rest 50% will be divided among the choices you want like gambling, purchasing something or whatever you want with it. So when you started your bet at $3 then you still have money left even though you started to bet until $98 but still it's just a portion of your total money you have and you are just not lucky at the moment.

Your advice is very good but it's actually very difficult to put into practice. the majority of gambling players today do not have good financial management skills, they only gamble because of temporary emotions and that is what makes many lose the moment and lose big

luck must come to a gambler but when their greed is greater then it makes them fail and lose big

[TimeTeller]

That's why you have to learn how to manage your own money. Just make a portion out of the total money you have like 50% save and the rest 50% will be divided among the choices you want like gambling, purchasing something or whatever you want with it. So when you started your bet at $3 then you still have money left even though you started to bet until $98 but still it's just a portion of your total money you have and you are just not lucky at the moment.

Your advice is very good but it's actually very difficult to put into practice. the majority of gambling players today do not have good financial management skills, they only gamble because of temporary emotions and that is what makes many lose the moment and lose big

luck must come to a gambler but when their greed is greater then it makes them fail and lose big

They will learn quick if they won't manage their funds properly when it comes to gambling.
It is easy to lose in gambling rather than gain money. And if you are playing luck-based games, don't expect you have something to bring home.
Gamblers should know possible repercussions even before starting to play games.
I can understand if it is sportsbetting and you are very familiar with the sports, you have better chances of winning.
But with luck-based games, better treat it as a way to unwind from your stressful life and don't expect any winnings afterwards.

[dunfida]

That's why you have to learn how to manage your own money. Just make a portion out of the total money you have like 50% save and the rest 50% will be divided among the choices you want like gambling, purchasing something or whatever you want with it. So when you started your bet at $3 then you still have money left even though you started to bet until $98 but still it's just a portion of your total money you have and you are just not lucky at the moment.

Your advice is very good but it's actually very difficult to put into practice. the majority of gambling players today do not have good financial management skills, they only gamble because of temporary emotions and that is what makes many lose the moment and lose big

luck must come to a gambler but when their greed is greater then it makes them fail and lose big

When you are that impulsive then you shouldnt consider yourself to play gambling because that would surely cost you money and if you dont like to lose your hard earned money then you shouldnt
play on the first place.
Gambling is for entertainment and not for source of income and once you do have this kind of mindset on where believing that making yourself get rich with gambling
then you are really getting the wrong idea.

[alegotardo]

They will learn quick if they won't manage their funds properly when it comes to gambling.
It is easy to lose in gambling rather than gain money. And if you are playing luck-based games, don't expect you have something to bring home.
Gamblers should know possible repercussions even before starting to play games.
I can understand if it is sportsbetting and you are very familiar with the sports, you have better chances of winning.
But with luck-based games, better treat it as a way to unwind from your stressful life and don't expect any winnings afterwards.

Exactly, sports games are a more accurate bet, as you are not handing your bet only to the hands of luck.
You use real-world statistics and probabilities to your advantage.
Of course the profits tend to be better, but if you put in a lot of effort and play wisely, you can make a good profit.

[lienfaye]

That's why you have to learn how to manage your own money. Just make a portion out of the total money you have like 50% save and the rest 50% will be divided among the choices you want like gambling, purchasing something or whatever you want with it. So when you started your bet at $3 then you still have money left even though you started to bet until $98 but still it's just a portion of your total money you have and you are just not lucky at the moment.

This is how I manage my money during payday. I set aside the money for the monthly expenses and savings then I also allocate small amount for leisure.

For a gambler who have discipline and aware of his limit, this kind of money management will work. However its different for addicted gamblers because they tend to continue playing as long as they still have money to feed their addiction.

Op learned his lesson the hard way and I think its an eye opener for gamblers who experienced the same thing to not repeat the same mistakes again. There's no guarantee that you'll be lucky if you gamble so dont use the money that is meant for important things.

[og kush420]

That's why you have to learn how to manage your own money. Just make a portion out of the total money you have like 50% save and the rest 50% will be divided among the choices you want like gambling, purchasing something or whatever you want with it. So when you started your bet at $3 then you still have money left even though you started to bet until $98 but still it's just a portion of your total money you have and you are just not lucky at the moment.

This is how I manage my money during payday. I set aside the money for the monthly expenses and savings then I also allocate small amount for leisure.

For a gambler who have discipline and aware of his limit, this kind of money management will work. However its different for addicted gamblers because they tend to continue playing as long as they still have money to feed their addiction.

Op learned his lesson the hard way and I think its an eye opener for gamblers who experienced the same thing to not repeat the same mistakes again. There's no guarantee that you'll be lucky if you gamble so dont use the money that is meant for important things.

It is surprising that the people gamble with the money which they have saved to pay off their debts and bills.
Gambling kills slow. Like a slow poison. You lose money and then you become depressed. And then your health deteriorates and you die.
Be very very careful when you gamble with your only money left.

[Pamadar]

That's why you have to learn how to manage your own money. Just make a portion out of the total money you have like 50% save and the rest 50% will be divided among the choices you want like gambling, purchasing something or whatever you want with it. So when you started your bet at $3 then you still have money left even though you started to bet until $98 but still it's just a portion of your total money you have and you are just not lucky at the moment.

And if ever he does that, he still has 50% if he manages to follow the strategy.

But it's gambling regrets follows after you already made a mistake, the sad thing there is instead of paying the debt now he need
to find additional ways to pay for it. Hard way to learn how to control and how to value your money, not really new to this business.
there are many people who suffer in the same manner.

[Zlantann]

You just learnt a lifetime lesson. Almost all game players have experience what you went through. The day I went through the same challenge, I cried all day because I used the money that was not mine for gambling and it was devastating. But you know the spirit: the more your loose the greater you stake so that you can recoup what you have lost. Like you rightly said we don't control the system hence we must ensure that we control our emotions and only stake what we can loose comfortably. I am sure that you wouldn't make the same mistake or blunder again. Best wishes.

[24Kt]

You just learnt a lifetime lesson. Almost all game players have experience what you went through. The day I went through the same challenge, I cried all day because I used the money that was not mine for gambling and it was devastating. But you know the spirit: the more your loose the greater you stake so that you can recoup what you have lost. Like you rightly said we don't control the system hence we must ensure that we control our emotions and only stake what we can loose comfortably. I am sure that you wouldn't make the same mistake or blunder again. Best wishes.

What I experienced whenever I am chasing my losses is that, my heartbeat is like palpitating so fast I can't think clearly because I am hoping that I will win the game. But if I am just relax and not worrying if I will lose or not, I feel I can enjoy the game. The scenario presented by the OP is not new, as most have experienced it one way or another. But you know what, some will not learn their lessons because they will do it again and again up until they are totally broke and their life is already ruined. This is why you will really see some gamblers being wasted with their gambling habits if they don't know when to stop.