Hard earned money - Busted in seconds

[traderethereum]

Of course, it's terribly insulting when you lose a large amount. However, the stage of acceptance comes and the player calms down a bit. I also read here in the topic above that a person can then remember a big loss all his life. But I think that time erases such memories from memory and they are forgotten. Usually people remember their victories or luck much better. Losses are forgotten much faster. OP, don't worry too much.
Probably this topic has already helped him forget the loss and treat this state with humor.

That would be fine if they could calm down, but we've seen other people getting even more eager to recover from their losses and continue to gamble.
They have not realized that what they have lost is more than enough and that they should stop and not try any further.
Forgetting defeat is not as easy as it sounds because it involves our feelings but indeed, we should try to forget it and learn from our mistakes.
Hopefully, they can figure it out and don't repeat the same thing in the future.

No matter where do we live, we should start to share our experience once gambling is started to be a "problem" in our life. If we keep it ourselves as a secret and no one knows, it is possible that it will become a bigger problem. If we share it to our close-friends or family, we may hear some opinions and hopefully to get a better solution to get rid of the problem.

That's right. If we have problems with gambling, we can share or tell stories with people close to us.
By sharing stories with them, we can feel relieved and not burdened with various gambling problems that befall us.
Thus, it will ease their minds and be able to live their lives well and as long as they can manage their finances well, they don't have to worry about another loss.
If they could completely stay away from gambling, that would be even better.

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[wxa7115]

This is called chasing your losses and it happens almost everywhere where money is involved, it is not rare for a trader to work for months to get profits and then when they make a bad trade and lose a great deal of those profits they cannot accept it and then use a lot of money during the next trade to try to recover the money they lost.

However most likely they will lose that trade as well as they were not thinking clearly during those moments, so instead of experimenting a small loss and move on now they have to deal with massive losses which will be almost impossible to recover.

Chasing losses can lead to suicide like in crash scene of Luna in rare cases, traders or gamblers should think twice before chasing losses in previous loss session. It may pay you once and gambler can win back losses but one mistake or bad loss streak can destroy bankroll management terribly. Having a self awareness and proper control of your bets can save gambler, this is what we are suggesting to do.

And without a doubt you are right, however being self-aware is something that most people are not used to do, just as an example I remember that once a friend said that he was interested in singing and he had been taking some classes and he wanted to sing a song for a group of friends.

Then when he finished the first thing that came to my mind was that he was terrible, but did anyone actually told him the truth? No, everyone was nice and they told him he was doing great and to keep practicing, and to this day he cannot sing well at all, my point with this story is to show that most of the time people will not tell you the truth about your performance and as such you may have the idea that you are great at something when in fact you are terrible, most of the time this is not a problem but when it comes to the markets and gambling this can be a terrible weakness to have.

[blatchcorn]

Exactly, after winning $1000 you don't feel it like real money. The problem is psychological, we have to stop gambling for long rounds, our brains fail feeling of how to make hard cash due to long series of up/downs. Unfortunate cases will happen more in case of user keep gambling every week,  taking break for 1 month will take back to reality.

"In gambling a winner is the one who knows when to stop". the real catch is when to stop in either case you win or lose. Normally
people keep on betting when they are losing or winning and that's where problem start. I am happy that gambling is ban in my country and I gamble rarely on crypto sites.

[batang_bitcoin]

"In gambling a winner is the one who knows when to stop". the real catch is when to stop in either case you win or lose. Normally
people keep on betting when they are losing or winning and that's where problem start. I am happy that gambling is ban in my country and I gamble rarely on crypto sites.

That means that even gambling is banned on your country, you still happen to gamble at some moments of your life during this rule of law has been implemented. Well, going with the winners who knows how to stop.
IMHO, the correct terms would be disciplined and accountable. Any gambler who's disciplined and accountable will know when it's time to give up and just stop. There will be matters that should be addressed more importantly than going on if they know that they're already defeated for that.
It's not a total loss if you happen to stop when things are not working for you like most of your bets are dropping in losses.

[Masplanc]

If am not mistaken you are trying to say you use all that  you have in your account to play gamble, if it so you have gone beyond the limit.  You are supposed to know your limit in Gambling and not to gamble with the number you can't afford to lose.

[madnessteat]

"In gambling a winner is the one who knows when to stop". the real catch is when to stop in either case you win or lose. Normally
people keep on betting when they are losing or winning and that's where problem start. I am happy that gambling is ban in my country and I gamble rarely on crypto sites.

That means that even gambling is banned on your country, you still happen to gamble at some moments of your life during this rule of law has been implemented. Well, going with the winners who knows how to stop.
IMHO, the correct terms would be disciplined and accountable. Any gambler who's disciplined and accountable will know when it's time to give up and just stop. There will be matters that should be addressed more importantly than going on if they know that they're already defeated for that.
It's not a total loss if you happen to stop when things are not working for you like most of your bets are dropping in losses.

So you definitely do not have a gambling addiction because many people play online casinos via VPN/TOR despite the ban on gambling in their countries. In my city there are no land-based casinos that would have a license and I have to play online. It seems to me I have no gambling addiction as I can leave the gaming area at any time and try to do it immediately after winning and also can do without gambling for a month or more.

[BOAEDAN]

If am not mistaken you are trying to say you use all that  you have in your account to play gamble, if it so you have gone beyond the limit.  You are supposed to know your limit in Gambling and not to gamble with the number you can't afford to lose.

It's true as you said, if we gamble beyond the limit, of course we will experience huge losses, because in gambling we must be able to control ourselves, if we can't control it, it is certain that all the wealth we have will disappear in an instant.

[pawanjain]

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

You are lucky that you lose only 98$, I lost 175$ yesterday and 60$ last week. You can easily imagine how I would be feeling right now. Gambling is all about losing your hard earned money in few minutes or seconds. Despite all my efforts I can't restrict myself from gambling.

Well, when I first started gambling excessively, I lost more than $300 just like that.
It was hard earned money ofcourse but I didn't realize the losses until one day I calculated all my losses and the amount crossed $300.
That was when I decided not to gamble excessively and from that day onwards, I never gambled with an amount more than $5 per bet.
Also, I gamble for not more than 10 - 15 minutes a day and less than 4-5 times a week.
This way I have restricted myself from gambling excessively and limiting my losses. Self control is the trick here.

[madnessteat]

^

I have developed restrictions for myself by which I try not to gamble more than a couple of times a month and spend no more than $100 per game. In my opinion, such restrictions do not allow me to get used to gambling. I would, if I were you, reduce the number of visits to casinos because I think it is important in the fight against gambling addiction.

[Fredomago]

That's what happens to gamblers because not all gamblers can open up and tell other people because, in some countries, gambling is considered nothing and will instead be given a negative impression.
So for those gamblers, keep their stories about gambling and don't share them with others.
It will be even more difficult if the gamblers are addicted because no one will know.

No matter where do we live, we should start to share our experience once gambling is started to be a "problem" in our life. If we keep it ourselves as a secret and no one knows, it is possible that it will become a bigger problem. If we share it to our close-friends or family, we may hear some opinions and hopefully to get a better solution to get rid of the problem.

This is the reason why I let my mother and fiance of the time (now wife) know as soon as I lost all my money when I was back in college. Don't get me wrong, I live in a small nation and I didn't had much money, it was like 200 bucks or something and meant nothing to my parents, they laughed at it. But to me, that was like a good few computer games money that I lost, or a few going outs with my fiance money that I lost (probably games lol).

So, I whined about doing something stupid, and shown my regret and they simply said they were there for me for any time I have the urge to gamble and would be willing to do something else to take my mind off it. Helped a ton.

Good for you that you have someone who are open-minded to understand and to support you with that kind of mistake, though you are right $200 is not that much compared to those who losses a lot of savings with this kind of regretful mistake, gambling is something that you need to understand before taking the risk.

Just how the title of this thread, hard earned money that got busted that quick without any chance of recovering if you won't add another set of fund.

But that's another stupidity, as the chance of losing again is not by far.

[romero121]

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

You are lucky that you lose only 98$, I lost 175$ yesterday and 60$ last week. You can easily imagine how I would be feeling right now. Gambling is all about losing your hard earned money in few minutes or seconds. Despite all my efforts I can't restrict myself from gambling.

A loss is loss, and what made my loss bad is that I lost every bets to roll over 20. That is really bad, and a loss of $235 is really big for a common gambler. As far gambling is concerned, don't try to recover those losses. Give some time or take a break and this will help you atleast get back little than emotionally getting lost.

[mm2543363580]

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

You are lucky that you lose only 98$, I lost 175$ yesterday and 60$ last week. You can easily imagine how I would be feeling right now. Gambling is all about losing your hard earned money in few minutes or seconds. Despite all my efforts I can't restrict myself from gambling.

A loss is loss, and what made my loss bad is that I lost every bets to roll over 20. That is really bad, and a loss of $235 is really big for a common gambler. As far gambling is concerned, don't try to recover those losses. Give some time or take a break and this will help you atleast get back little than emotionally getting lost.

Gambling is good when you win - but its a serious serious trouble when you are at losing end.
Gambling is considered as illegal in some region. Now I realize why it is illegal.

[erep]

A loss is loss, and what made my loss bad is that I lost every bets to roll over 20. That is really bad, and a loss of $235 is really big for a common gambler. As far gambling is concerned, don't try to recover those losses. Give some time or take a break and this will help you atleast get back little than emotionally getting lost.

It's quite difficult to control the emotions if you have lost in a big bet then it's better to come back tomorrow with a calm mind and limit the money to be lower for gambling, not for the purpose of recovering from losses but betting for fun because previously you were out of betting that was not ready to accept losing big bets.

[Jemzx00]

You are lucky that you lose only 98$, I lost 175$ yesterday and 60$ last week. You can easily imagine how I would be feeling right now. Gambling is all about losing your hard earned money in few minutes or seconds. Despite all my efforts I can't restrict myself from gambling.

A loss is loss, and what made my loss bad is that I lost every bets to roll over 20. That is really bad, and a loss of $235 is really big for a common gambler. As far gambling is concerned, don't try to recover those losses. Give some time or take a break and this will help you atleast get back little than emotionally getting lost.

Yes, loss is a loss whatever the amount is however you must also consider the lesson you've learned from this experience. First of all, never to gamble with money that you don't even have. You've gambled funds that is supposedly for payment on your debt which ended up losing.
Also, for Blatchcorn, don't invalidate someone's loss just because of the amount they've loss on their gambling activity as compared to you that was able to afford to gamble right after losing 175$ . OP already has a debt of thr amount he had gambled with so there's the difference.
Anyway, I hope you've learned your lesson with this experience to never gamble with funds you can't afford to lose especially if it's already reserved for something else.

[mm2543363580]

You are lucky that you lose only 98$, I lost 175$ yesterday and 60$ last week. You can easily imagine how I would be feeling right now. Gambling is all about losing your hard earned money in few minutes or seconds. Despite all my efforts I can't restrict myself from gambling.

A loss is loss, and what made my loss bad is that I lost every bets to roll over 20. That is really bad, and a loss of $235 is really big for a common gambler. As far gambling is concerned, don't try to recover those losses. Give some time or take a break and this will help you atleast get back little than emotionally getting lost.

Yes, loss is a loss whatever the amount is however you must also consider the lesson you've learned from this experience. First of all, never to gamble with money that you don't even have. You've gambled funds that is supposedly for payment on your debt which ended up losing.
Also, for Blatchcorn, don't invalidate someone's loss just because of the amount they've loss on their gambling activity as compared to you that was able to afford to gamble right after losing 175$ . OP already has a debt of thr amount he had gambled with so there's the difference.
Anyway, I hope you've learned your lesson with this experience to never gamble with funds you can't afford to lose especially if it's already reserved for something else.

I live in a society where we are not allowed to gamble - we don't have any pub in our regions. Almost 85% of population dont drink neither they gamble.
So we are unaware of the feeling - how does it feel. I did a small offline bet and lost approx $10 when I was in school, I was unable to sleep for 10 nights. I am not sure how the OP is surviving.

[Alanaz]

A loss is loss, and what made my loss bad is that I lost every bets to roll over 20. That is really bad, and a loss of $235 is really big for a common gambler. As far gambling is concerned, don't try to recover those losses. Give some time or take a break and this will help you atleast get back little than emotionally getting lost.

It's quite difficult to control the emotions if you have lost in a big bet then it's better to come back tomorrow with a calm mind and limit the money to be lower for gambling, not for the purpose of recovering from losses but betting for fun because previously you were out of betting that was not ready to accept losing big bets.

Even in this case, I still feel that if we lose by a large enough nominal and come back within a few days the emotions will still be there and in the end their focus is not on gambling but to recover their losses which of course will be a very difficult thing to do. won because it has been controlled by ambition then indeed this will actually destroy and will be another loss there.

[Sirait]

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

You are lucky that you lose only 98$, I lost 175$ yesterday and 60$ last week. You can easily imagine how I would be feeling right now. Gambling is all about losing your hard earned money in few minutes or seconds. Despite all my efforts I can't restrict myself from gambling.

I saw the OP only lost $3 (because his initial capital was $3 and then he won up to $98). who is willing to lose money? Of course there won't be and this is a lesson for everyone don't gamble when you're not ready to lose. by the way sorry for your lost money, that's quite a lot of money for me. hopefully, you can get a big win in your next gambling.

[Viscore]

That's what happens to gamblers because not all gamblers can open up and tell other people because, in some countries, gambling is considered nothing and will instead be given a negative impression.
So for those gamblers, keep their stories about gambling and don't share them with others.
It will be even more difficult if the gamblers are addicted because no one will know.

No matter where do we live, we should start to share our experience once gambling is started to be a "problem" in our life. If we keep it ourselves as a secret and no one knows, it is possible that it will become a bigger problem. If we share it to our close-friends or family, we may hear some opinions and hopefully to get a better solution to get rid of the problem.

The problem in gambling is not really that gambling alone, but the addiction that will mostly develop afterwards and ruin everything. And once the gambler starts to see it from himself, then he should not keep it and find solutions alone. While some friends cannot help, but there is family that is always ready to help and guide his gambling addiction. I just hope OP has learned his lesson now, and will find gambling more entertaining than being addictive. That is why gambling needs not a huge amount, but an amount you can only afford to lose but still give you self satisfaction.

[Bitinity]

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

You are lucky that you lose only 98$, I lost 175$ yesterday and 60$ last week. You can easily imagine how I would be feeling right now. Gambling is all about losing your hard earned money in few minutes or seconds. Despite all my efforts I can't restrict myself from gambling.

I saw the OP only lost $3 (because his initial capital was $3 and then he won up to $98). who is willing to lose money? Of course there won't be and this is a lesson for everyone don't gamble when you're not ready to lose. by the way sorry for your lost money, that's quite a lot of money for me. hopefully, you can get a big win in your next gambling.

As I understand, his initial bankroll is not $3. The words "went up to $98" refers to his last bet, something like when you are doing martingale where you increase your bet after every lose bet. He also said that the money was a 2 months hard earned money, if you think that his starting bankroll is only $3, do you think that there is someone in this world who earn that low amount in 2 months? Even if someone live in the worst places in this world, I do not think there is someone who want to work hard for $3 in 2 months.

[blatchcorn]

That means that even gambling is banned on your country, you still happen to gamble at some moments of your life during this rule of law has been implemented. Well, going with the winners who knows how to stop.
IMHO, the correct terms would be disciplined and accountable. Any gambler who's disciplined and accountable will know when it's time to give up and just stop. There will be matters that should be addressed more importantly than going on if they know that they're already defeated for that.
It's not a total loss if you happen to stop when things are not working for you like most of your bets are dropping in losses.

Due to restriction in my country I would say I have not lost huge money till date in gambling. A decent or disciplined gambler must know when its the right time to stop otherwise he will keep on losing money. Its a universal fact whether we accept it or deny it.  Just keep an eye on your emotions and everything will be fine,