Gambling is for big bag holders

[arwin100]

After this experience I believe gambling is for the big bag holders, if you're in urge of making a win. Very much disappointed, because it is the last few dollars I had as a cryptocurrency holding. If I had more funds I wouldn't have encountered this big loss. Martingale once again a failed strategy when you don't have big bag of money.

Nope your wrong gambling only meant for big bag holders because even if you are a whale but you didn't enjoy the game and always get stress out for the result of the game then this is not really for you. Gambling is meant to be enjoy by anyone even if you are a small time bettor or a huge as long as you carry out the game until last then at the end of the day you are satisfied on what you do this game is really worth it for you.  Don't look for any strategies because at the end of the day if you are greedy you end up losing all what you accumulate.

[1715092235]

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[1715092235]

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[1715092235]

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[Boristhecat]

I think @OP needs to learn proper bankroll management.  

Here is a key pointer in one of the articles^[1] I read on how important Proper bankroll management is.
Learning bankroll management can:

• It ensures that we don’t chase our losses when on a losing streak.
• It prevents us from getting carried away and staking too much when on a winning streak.
• It allows us to withstand multiple losses without running out of money.
• It enables us to make better and more rational betting decisions.

you can read further explanation on the link below

If you happen to understand and learn proper bankroll management you won't be creating thread like these saying that gambling is for big bag holders only.
-skip-

These tips work (in the sense that they allow you not to lose all the funds for a long time), but their implementation assumes that the player will not initially play Martingale. But will the player be satisfied with the fact that the volatility of his deposit is very small (which means that even if he is temporarily in the black, this will be an insignificant plus)? Using these tips, he will lose money in the same way, only at the same time he will most likely not receive additional adrenaline, since this will be a "reliable" game. In general, if we consider these tips regarding the desires of the average gambler, then they are very contradictory (maybe that's why few people follow them, although I'm sure everyone knows about them).

[swogerino]

After this experience I believe gambling is for the big bag holders, if you're in urge of making a win. Very much disappointed, because it is the last few dollars I had as a cryptocurrency holding. If I had more funds I wouldn't have encountered this big loss. Martingale once again a failed strategy when you don't have big bag of money.

How do you know that if you have invested more in gambling you will have won ? Gambling is all about luck and the winning in gambling is only because of the luck. There are people who invest a little amount in gambling and and end up winning a jackpot while there are other players who uses thier life savings and end up losing everything.

I have to disagree with this statement for state multi million jackpots who are for the moment as far as I know up to 100 Million dollars only in Las Vegas,Nevada and rarely I have seen someone to hit the jackpot at their first play or in their initial sessions.I remember well a couple that used to play every day slots in order to get the jackpot and change their lives forever,yet they did manage to win but it was when they were old and they didn't need a lot of money in their life,it was exactly 45 years later that they hit more than 70 mln dollars jackpot.

For playing slots online and winning jackpots there during your first play or initial sessions can very well be possible as slots online behave differently and don't offer that kind of extreme money jackpots.

[Yaunfitda]

After this experience I believe gambling is for the big bag holders, if you're in urge of making a win. Very much disappointed, because it is the last few dollars I had as a cryptocurrency holding. If I had more funds I wouldn't have encountered this big loss. Martingale once again a failed strategy when you don't have big bag of money.

How do you know that if you have invested more in gambling you will have won ? Gambling is all about luck and the winning in gambling is only because of the luck. There are people who invest a little amount in gambling and and end up winning a jackpot while there are other players who uses thier life savings and end up losing everything.

Perhaps he was banking on the higher risk high rewards ratio. But yes, we all know that it's not always the case, lady luck has do something before we can win huge.

And then there are also the cases, for us, not just in crypto, I have seen this in real life casino, wherein a individual will just bet on minimum or next to the minimum and hope that he can win the jackpot. So both chances are the same, regardless of the amount of bankroll.

[LodisMcguire]

You know the house edge right? If you do a continuous bet,sooner or later you will empty your balance.Change the game to a skill based game and try to win on those,if it's luck based you can't expect to win everytime and if you still insist on playing,that's a straight way to be broke.

[fzkto]

The most important rule in any business involving risk and money is proper money management. Without clear rules you will lose your capital, no matter how big or small. If your bank is 200 dollars and you are betting 100 dollars, which is 50% of the bank, it is wrong and is the main reason for your losses.

[livingfree]

Huge bag holder or not, gambling is for everyone who has funds and that is big or small.

It's a matter of how long you want to stay whether you have funds that you can spend wholly for gambling. There can also be losses even you're just a small time gambler.

That's why, it's for everyone to make their own bets into their favorite games that they want to have an access.

I guess due to disappointment o frustration that's why OP thinks that if he have larger funds, he may recovered those losses, but sad to say he ended up empty-handed after that losing streaks, Martingale as always, it sucks and most of those who use this strategy burned their bankroll.

I don't see any difference in particular, cause even small-time gambler are not exempt from this kind of outcome.

Martingale is nothing unless your timing is good and you know how to quit before anything worse thing comes to your money.

Well, someone who has bigger funds really has the advantage and the edge but that doesn't guarantee you win. Because even if you win today and you still got a lot, that will make you confident that you don't have enough.

And that will result for you to gamble more until you won't notice that you've got nothing left and you've spent most of your money. In gambling, it's not just about the funds but also the mindset you have as a gambler.

[Tumanggor]

Really sad to hear about your loss OP.
I would suggest each and every gambler, that don’t try one strategy for more than once.
In Gambling in order to win or make profit, you don’t need to have a big balance, rather a good luck.
And if you don’t have the capability to bear losses, I would suggest better not to gamble.
The base bet was low I can see that thing in the OP, but the base bet multiplier was high, for which the OP became bankrupt in few rolls.
Nevertheless I would suggest to try sportsbetting rather than casino games. As it requires skills more than lucks.

during this pandemic and don't have more income do not gamble with "money you cannot afford to lose" and "don't gamble with borrowed money"

Gambling is not just a game of luck, it requires good financial management so that every step taken is not wrong, such as running out of capital, using saved money to gamble or borrowing money to gamble

for those who want to play safe, you should just choose to only play in sports betting, or card games because they are easy to analyze and don't depend purely on luck

[Cookdata]

This doesn't change anything, my dear, and if today is not your lucky day, there is nothing special you can do about it. This is gambling, and that is precisely what has happened to you. The best you can do is to see this as an experience and use it to your advantage moving forward. You never know where your own may go, but I understand your anguish as it is quite sad losing your small amounts. I saw on this board on Rollbit where one person posted enormous profits in thousands after losing hundreds, you can do it too but take precautions.
By the way, you should be aware that winnings aren't determined by your bet size; you may lose everything by betting your whole deposit on a single round.

[blockman]

Martingale once again a failed strategy when you don't have big bag of money.

It will continue to make someone fail even if he's going to have a big bankroll. If I have that amount to gamble, I'll choose to gamble with sports betting and not with dice. I know how quick it is to win and quicker to lose there. But if with sports betting, I have more idea that I can somehow take an analysis for each bet that I'll do and that'll increase my chance of winning and can possibly grow that bankroll that I have.

This strategy makes gambler lose more, they should not trust this strategy that much because its not proven. Gambling is for those who are willing to take the risk and understand the probability of winning here, dice game is not just for big time gamblers. Betting are way better, if OP didn’t find his luck on dice game better for him to look for other games that may interest him, sports betting is easy to understand and a good alternative.

We may say that some have proven it but to me, I've never proven this strategy to be as good as they see it. I don't really think that it fits me since I don't have a huge bankroll.
Well, for those that are seeing it as a good strategy for them, good luck to all of you. The majority sees it as a hard strategy to follow because it's highly unlikely that one can make that much from it.

[BitcoinPanther]

Well, someone who has bigger funds really has the advantage and the edge but that doesn't guarantee you win. Because even if you win today and you still got a lot, that will make you confident that you don't have enough.
And that will result for you to gamble more until you won't notice that you've got nothing left and you've spent most of your money. In gambling, it's not just about the funds but also the mindset you have as a gambler.

If the bankroll can overcome the series of losses then martingale would be the best method to get profit in gambling.  But the thing is, the amount needed to bet in every loss doubles in order to compensate for the losses and regain the amount plus winnings.  So the longer the losing streak the higher the needed fund to complete the next bet.  And I have never seen anyone defeated the game with martingale strategy.

[madnessteat]

^

Playing by Martingale sooner or later will lead the player to lose, as many casinos use protection against this strategy. In addition, it can not guarantee a win even if your bankroll will be very large because the main misconception when playing with Martingale is that the probability that the losing streak can not repeat too long, but in fact each new bet has nothing to do with the previous one.

[fiulpro]

Oh my god I am so sorry to see your losses, I hope you could have refered to other discussions where the people time and again told how martingale is not a good strategy to go through at the same time there are people on the YouTube who did try it and failed as well, plus you did make huge bets I would say, you could have feathered it out as well. I do think that you do need to understand the fact that gambling is definitely for people who do have a certain amount of money in their bag but you should understand that it's also for small entertainment purposes when the bet is not making a hole in your pocket. Sorry for the loss again!

[Zilon]

I beg to defer i think gambling is for those who can handle their greed. Be you a big bag holder or an average gambler what matters is how this greed appetite are managed. Martingale system is no exception to this. Even the Big bag players also cry using this strategy. The only chances players with big bag have is  the can keep doubling their losing bet until they win and what if the lose everything without a single win? or don't such cases occur?

[bitgov]

After this experience I believe gambling is for the big bag holders, if you're in urge of making a win.

Gambling is not only for those people you've said. It depends on luck no matter how much money you have. There are others who only have small amount of money but still able to win a huge prize or even hit the jackpot.

Martingale once again a failed strategy when you don't have big bag of money.

Did you expect that using that strategy is a sure profit? If I have a huge amount of money, that is the strategy I will never use. It's like burying yourself into your own grave everytime you lose.

I agree - gambling is for lucky people. Be it rich or the poor. Many rich people are losers in gambling and many poor people are lucky in gambling and in a jiffy they become rich.
However the world revolves around the rich - they have good life while the poor person keeps on thinking how to get the basics fulfilled.

[abel1337]

After this experience I believe gambling is for the big bag holders, if you're in urge of making a win.

Gambling is not only for those people you've said. It depends on luck no matter how much money you have. There are others who only have small amount of money but still able to win a huge prize or even hit the jackpot.

Martingale once again a failed strategy when you don't have big bag of money.

Did you expect that using that strategy is a sure profit? If I have a huge amount of money, that is the strategy I will never use. It's like burying yourself into your own grave everytime you lose.

I agree - gambling is for lucky people. Be it rich or the poor. Many rich people are losers in gambling and many poor people are lucky in gambling and in a jiffy they become rich.
However the world revolves around the rich - they have good life while the poor person keeps on thinking how to get the basics fulfilled.

There are a lot of factors in winning gambling, Luck is one of them. Whether they are poor or rich as long as they are ready to gamble with the luck, good preparation, proper capital and stable emotion, They can win. The one that separates the rich and poor in gambling is the capital allowance and the mental state they are in. This is why poor people should balanced out their capital depending on their strategy to win the game. I think poor people shouldn't really take the risk of gambling because it can severely reduce their survivability and their current mental health.

[Doell]

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20 losing streak in a martingale method, that would be an insane loss.  But they say that if someone can outlast this martingale losing streak, then it is one of the most profitable strategies in the gambling industry.  But the thing there is the word "if" since the losing streak goes longer as the game run which makes player's bankroll to get depleted sooner than they think.

Not insane it's normal in dice but it depends on internet signal strength and device too, that's why setting a bet value and chance is the most important in this method, a small bet is better than a big bet. OP is also aware of this, it's just that the emotion of greed that makes someone make a big bet with insufficient capital to return a loss is so brave and only lucky people can win.

[Rufsilf]

I beg to defer i think gambling is for those who can handle their greed. Be you a big bag holder or an average gambler what matters is how this greed appetite are managed. Martingale system is no exception to this. Even the Big bag players also cry using this strategy. The only chances players with big bag have is  the can keep doubling their losing bet until they win and what if the lose everything without a single win? or don't such cases occur?

Big bag holders can afford to lose more and they are not afraid to bet until the last money in their pocket for they still have left in the bank. But the problem is if they are into addiction, this gonna be the reason for losing them all, in fact, a lot of people are in this ending situation because of gambling addiction.

Well, playing Dice games and card games could make your pocket empty so fast unlike, sports betting. That is why I don't make myself involved much in this. Just imagining the OP's experience, that was insane.

[uneng]

Oh, that is painful. Sometimes Martingale looks great and gives confidence to the gambler, but in other times it looks a nightmare! Sadly i lost my signature weekly earnings as well last week on diamonds' game and dice right after, in an attempt to recover what I lost previously, also applying Martingale. The worst moment was to lose 3x in a roll with more or less 64% winning chance and then my balance was practically entirely gone.

It seems too much confidence is also a big issue for gamblers...

That can be devastating to believe that you are going to get back your losses.I also have lost several times my complete weekly signature earnings and we know because we are in the same signature that the payout here is one of the best,most of the time surpassing that 100 USD mark.I have done so because I believed deep down in me that the slot machine will give the bonus round so I kept increasing the bet,somewhat of a Martingale system but of course not the same as in dice or roulette and I ended up losing everything.Luckily from quite some weeks now I am able to have great self control and either lose only 10-20 dollars and quit or if I have luck withdraw a good amount surplus to the signature earnings.

I haven't had much luck with slots recently, so I gave up on them and migrated to the original Stake games and was doing well until it happened what i related on the previous post. Slots can be treacherous sometimes and drain our money really fast, even though we place small bets. But you are right, we need to set limits to our gambling session based on our bankroll size.

About the losses, i'm still confident about recovering that, because it was relatively a small amount of money, considering how much some gamblers play in a daily basis. With a decent bankroll size I believe it will be possible to turn the tables and achieve at least a 'tie' or a small profit advantage against the house. I think things start getting difficult when the gambler has from five digits losses on.

[serjent05]

After this experience I believe gambling is for the big bag holders, if you're in urge of making a win. Very much disappointed, because it is the last few dollars I had as a cryptocurrency holding. If I had more funds I wouldn't have encountered this big loss. Martingale once again a failed strategy when you don't have big bag of money.

I guess you are just too emotional,

I think OP was furious because he didn't have a chance to enjoy his bankroll.  He got busted before he knows it.

same here, when I played, I wish I have more capital so that I can wager max bet every game or even in every slots.

Everyone wants a bigger bankroll but if the situation given isn't like that, we need to learn how to properly manage our bankroll to at least enjoy our gambling session.

As for the Martingale, it's a hit or miss strategy, it is still have some element of luck in order for this strategy to work.

True that but often times martingale strategy doesn't wait for luck to shine.  It often makes a player's bankroll busted.