Never Expect Consistent Winnings From Gambling - A Lesson I Learnt.

[Silberman]

This is stupidity at it's finest, how can one leave his job for gambling? Something that doesn't rely on your skill or hard work, gambling is completely a gamble, hundred percent on luck, how can one take this as a month salary earning job? LMAO

I don't feel pity for this fellow or anyone who do the same, there is no other words to describe this than stupidity, he deserves everything that happened to him, he is also greedy but that's normal, something you can learn the hard way but losing your job because you believe that gambling is the answer is crazy.

As crazy as it may sound this just shows how weak is the understanding of the subject of probabilities among the general population, anyone with the most basic understand of this topic will know that even when you have the odds against you it is possible to produce profits over the short term, but this is only a temporary thing, and if given enough time then not only you will lose that amount of money but you will lose a part or all your capital, but someone which does not understand probabilities may come to believe their profits can be sustained and they could make a living out of them, a huge mistake of course, which is caused by their ignorance about this topic.

[AicecreaME]

I would say if you're always making money in trading, you can quit your day job, in case you're already make a lot money and you can earn passive income by investing your money you've make from trading. The passive income you get are expected to cover up your daily spending, this mean if your trading goes wrong, you can still life with your passive income. Having a business is a good decision too especially if you're interested in business.

I agree with this.

You can definitely make a passive income from trading especially if you already established your portfolio and if you are really that good in market analysis. Trading requires effort, time, and of course money. It is a risk very much different from gambling because gambling is mainly for entertainment and bonus if you can generate profit. While trading is intended to profit and earn money. Taking advantage of the market volatility, knowing when to buy, sell, and cutloss.

Leaving your job because you can make trading as your everyday means of survival is possible. As a matter of fact, I knew some who did this and has a very stable and financial independent life nowadays. But if you will do it because of gambling, think twice, even ten times because gambling is different. It's mostly based on luck and it couldn't possibly be sustainable for the long run.

[Fortify]

Long story short, 2 months after the whole winning spree, this guy lost everything back to casinos where he gambled on, he made gambling his day job, probably increased his bets so as to win more,  but as of today, this guy is joblessly roaming the streets, depend solely on friends to feed, as of yesterday when I overheard him discussing with some one I am also close to, he was asking to help him look for a Job, that what he planned didn't work out - what ever he planned that didn't work out, I don't know, but this is a lesson for us all to learn from.

Gambling is not a business, and neither should you ever take it as a day job, in reference to this thread - it is likely impossible to make a consistent winning from gambling, there are day you win, even much more than $100, and there are days you will lose it all, to make a consistent $100 or more every day in gambling is a mirage, wishful thinking that might never happen.

Feel free to chip in your contribution.

I think you really need to separate gambling into two categories - bets over which you have some control and bets where you have no control. The vast majority of casino games fall into the second bracket, the casinos have engineered it so they will always win in the long run due to a weighted advantage in their favor - although you might get lucky short term. Then there are skill based games like poker and even sports betting to a degree, where you may be able to eek out a small advantage if you follow some sort of strategy.

[ethereumhunter]

When you start winning and keep wining for some time (gamble/trading/other stuff) you feel like you can't lose. This is such a delusional state which is hard to predict first time you are in. I had it with trading and if you come from it with minimum loses it's such a worth trade in experience and money related stuff. I'm lucky it happened to me when I was pretty young and didn't lose much money. Be careful when things go bad, and even more careful when things are going good.

I would say if you're always making money in trading, you can quit your day job, in case you're already make a lot money and you can earn passive income by investing your money you've make from trading. The passive income you get are expected to cover up your daily spending, this mean if your trading goes wrong, you can still life with your passive income. Having a business is a good decision too especially if you're interested in business.

But the problem is many people have not been able to make money trading but have decided to quit their day jobs. They forget that in trading, there are cycles that make the market go down and they will find it difficult to survive if they don't have enough expertise.

But if they still have their day job, they can use their salary to survive while improving their skills to profit in trading. But passive income is different from trading profits because you get passive income by owning something that can give you money without working. But in gambling, you can not expect getting the win because you may lose many times rather than win.

[Negotiation]

Blame game, anyone? Listen, gambling's a risk, we all know it. So why cry foul when luck deserts us? It's like cursing the ice cream man for those extra pounds—you knew the deal! Sure, be smart, don't go overboard. But let's loosen up, folks. Gambling's all about fun and rolling the dice. Keep your dreams grounded. It's tempting to imagine Scrooge McDuck-level wealth, but let's be honest—most of us won't strike gold. So enjoy, gamble, and don't sweat it.

Gambling is just like playing video games we want to play for fun but silly people expect to get big money from playing video games, it is very impossible for us to get it all.
Just like gambling, which should be used as a place for entertainment, people sometimes misunderstand and expect big wins from gambling which can make them become addicted with thoughts of big money or big wins.
But that is very natural for me because some gambling addicts can get worse because they were once lucky to get a big win after that the mindset is always hoping for more and after that the winning money runs out and blames the casino.
I think a person can become a very bad gambling addict because his mind is only thinking about winning big and big money.

Correct, gambling should never be taken seriously and should be played as a means of entertainment. From an individual's point of view, a gambling addiction can turn a person from losing wealth to bankruptcy in an instant. Since there are gains and losses in the game, it is easy to detect when it is too much. Participating in regular gambling often leads to an addiction to trying to make up for lost money when you lose and the urge to make more money when you win, a never-ending cycle.

[kamvreto]

Correct, gambling should never be taken seriously and should be played as a means of entertainment. From an individual's point of view, a gambling addiction can turn a person from losing wealth to bankruptcy in an instant. Since there are gains and losses in the game, it is easy to detect when it is too much. Participating in regular gambling often leads to an addiction to trying to make up for lost money when you lose and the urge to make more money when you win, a never-ending cycle.

A cycle that will continue if not addressed properly and correctly. When gambling has become an addiction it will be dangerous. it is difficult to get rid of gambling addiction, those who are addicted will feel that every game is a chance to win, but in fact, he always loses and loses. to spend all his money and this will also have an impact on his social life and will be more likely to commit criminal acts to get money so they can do gambling.
Gambling is entertainment and as much as entertainment should be fun, winning or jackpots are just a bonus.

[Cookdata]

Snip

These aspects are often overlooked by many gamblers and also one-time gamblers. By "one-time gamblers," I mean those who only engage in gambling for the sake of having fun from time to time, disregarding the fact that luck is not consistently on their side. Not every day can be like Christmas, and that's why, in all my years of playing, I have never exceeded my predetermined betting budget irrespective of how many winning tickets I may have, I refrain from increasing the amount I allocate for betting. If my usual weekly sportsbook budget is $20, even if all my predictions turn out to be correct, including those with high odds, I ensure that my next stake does not surpass that $20 because over-excitement can make one make a mistake in the next game's pick.

[Peanutswar]

This serves with the outcome of the gambling base on the experience of other people and even you there's a factor that you could lose in gambling and this serves already a lesson but still continuously playing?, its because the factor of the money and the satisfaction the player always got, if you think gambling can give you an instant money this can give you instant lose back all your gains and more on it, no one will give a huge win every day to the gamblers, that's why its called gamble the factor of chance of winning and luck. You can lessen the risk but you cant remove the risk as always there it is.

[bitgolden]

Gambling is not a business, and neither should you ever take it as a day job, in reference to this thread - it is likely impossible to make a consistent winning from gambling, there are day you win, even much more than $100, and there are days you will lose it all, to make a consistent $100 or more every day in gambling is a mirage, wishful thinking that might never happen.

Indeed. Don't quit your day job for the reason you chose gambling as your main source of income believing you can earn each day by winning consistently. Those who think that way don't know how gambling works to be treated as their source to earn. This is the problem of some gamblers who experienced to win decent amount and decided to be a gambler full time.

Gambling is not a job and should not be treated as one. If you want to gamble, do it for fun because it's more satisfying to win if you less expect it.

There is absolutely no reason to have gambling as your main income, that would be the silliest thing anyone can do. There are only a few professional poker players who does that, but aside from that nobody should do that. House always wins is a truth and not a lie, it is backed up by the house edge as well and that means you are going to end up with a loss.

So, if you want to make an income from gambling, then you should either own a casino or should have a lot of gamblers you affiliate networked into a casino so you could make a profit, aside from that there is no reason to keep gambling. I believe that there are very few people in the entire world who can do that and trying to be one of them makes no sense, it just doesn't seem possible mathematically speaking so why risk it?

[CryptSafe]

There is a saying that says "pride goes  before failure" that was the attribute of the young man. Arrogance and ignorance altogether made him crumbled and that is the root of his challenges encountered.
There is also a sayings that says "do not forget the days if your humble beginning" he ignored his friends as result of his stupidity. Forget his early struggling days with his friends just because of the feelings that he has arrived and it has landed him in a pool of regrets.

However, it is wisely advised to gamble responsibly. If he had been with his friends, I believe they  would have advised him. These kind of people are the type that easily get distracted when a little change enters their pockets. As you can see for yourself, he Messed up to the point of resigning his job and not even thinking of starting up a business for himself and that is where he landed himself hoping on gambling wins to sustain him without having a thought of the future.
This should be a big lesson for him to learn since he choose to be deaf ears.

[piebeyb]

This serves with the outcome of the gambling base on the experience of other people and even you there's a factor that you could lose in gambling and this serves already a lesson but still continuously playing?, its because the factor of the money and the satisfaction the player always got, if you think gambling can give you an instant money this can give you instant lose back all your gains and more on it, no one will give a huge win every day to the gamblers, that's why its called gamble the factor of chance of winning and luck. You can lessen the risk but you cant remove the risk as always there it is.

Yes, that's why gambling has to learn from the experiences of other people or yourself, after all to be consistent is difficult if you haven't been able to control yourself or get rid of greed as a human being, sometimes when you win you don't feel satisfied so you keep playing until the end until you finally lose your winnings again, that is the risk of playing gambling.

When playing, we also have to play with the risk of not always winning every day, sometimes when we experience defeat, we should be able to learn that as a lesson not to repeat it in the next game, after all, gambling is not a place to make instant money, so just play and enjoy the process, because we know will not be able to get wins consistently.

[Franctoshi]

A supposed friend, he working and has been gambling for a while, recently got lucky, won consistently for 3 good days consecutively..

1st day, he won $670+
2nd day, he won $702+
3rd day, he won $692+
This are the ones I know and saw the slip myself...



Long story short, 2 months after the whole winning spree, this guy lost everything back to casinos where he gambled on, he made gambling his day job, probably increased his bets so as to win more,  but as of today, this guy is joblessly roaming the streets, depend solely on friends to feed, as of yesterday when I overheard him discussing with some one I am also close to, he was asking to help him look for a Job, that what he planned didn't work out - what ever he planned that didn't work out, I don't know, but this is a lesson for us all to learn from.

That's very sure you can't win regularly all the time, what matters is if comparing your wining rate to lost rate, if wining rate is higher you still on the profit side despite losing some.
This scenario is what I experienced from a trade that I took today,  had a straight winning run that got me some reasonable amount of dollars, but guess what, instead of me taking a rest for the day, and due to some times one can just act stupid, I ended losing the profit plus my side of money. Once you've gotten a reasonable amount of winning,  don't be too confident to place further bets take a break and do fresh a calculation next day or more.

[monedauno]

Your question deserves a longer explanation: 
 
 
"I like your story. 
I have a plan: 
1\. What will be your first impression after this story, what will be your own expectations after that? 
2\. Do you think gambling will make us feel like we are making money? 
 
"The answer to that question is your decision." 
 
"The answer is no, there's no guarantee wbling games. And if we don't give up then we won't win the games." 
 
If you're a gambler, you have to decide what to believe about this story, how to handle it correctly and honestly. But the second thing is that if you can't be honest with yourself then you will face up to the problem of having a gambling problem. You can't make your decision based on a misunderstanding or misunderstanding of what you're doing but you can be a good role model with your friends.

[maydna]

A supposed friend, he working and has been gambling for a while, recently got lucky, won consistently for 3 good days consecutively..

1st day, he won $670+
2nd day, he won $702+
3rd day, he won $692+
This are the ones I know and saw the slip myself...

Long story short, 2 months after the whole winning spree, this guy lost everything back to casinos where he gambled on, he made gambling his day job, probably increased his bets so as to win more,  but as of today, this guy is joblessly roaming the streets, depend solely on friends to feed, as of yesterday when I overheard him discussing with some one I am also close to, he was asking to help him look for a Job, that what he planned didn't work out - what ever he planned that didn't work out, I don't know, but this is a lesson for us all to learn from.

That's very sure you can't win regularly all the time, what matters is if comparing your wining rate to lost rate, if wining rate is higher you still on the profit side despite losing some.
This scenario is what I experienced from a trade that I took today,  had a straight winning run that got me some reasonable amount of dollars, but guess what, instead of me taking a rest for the day, and due to some times one can just act stupid, I ended losing the profit plus my side of money. Once you've gotten a reasonable amount of winning,  don't be too confident to place further bets take a break and do fresh a calculation next day or more.

If we compare the rate of loss with the rate of win, we should already be aware that our rate will be greater than the rate of win. And that should have made us know that gambling is not a place to make money, but we can still play gambling with restrictions. We can only increase our win rate just by luck, but unfortunately, luck will not always come your way.

If you can already make a profit, it would be better if you stop immediately to calm down because that will make you very happy. But unfortunately, we forget to do that and instead continue because we hope to get more profit. And that happens to many people along the way, and they still don't realize it.

[rahmad2nd]

Snip

These aspects are often overlooked by many gamblers and also one-time gamblers. By "one-time gamblers," I mean those who only engage in gambling for the sake of having fun from time to time, disregarding the fact that luck is not consistently on their side. Not every day can be like Christmas, and that's why, in all my years of playing, I have never exceeded my predetermined betting budget irrespective of how many winning tickets I may have, I refrain from increasing the amount I allocate for betting. If my usual weekly sportsbook budget is $20, even if all my predictions turn out to be correct, including those with high odds, I ensure that my next stake does not surpass that $20 because over-excitement can make one make a mistake in the next game's pick.

If that's true, you are one of those people who have a very high level of consistency. In fact, to be honest, I didn't do as well as you did in betting sessions. by the way, maybe what you apply to yourself may only apply to a few gamblers. and one of them, you yourself.

By the way, everyone/gambler has his own way and like you do with your gambling. I personally, consider gambling to be a part of fun entertainment, especially football betting. in a week there are many matches that are held, we can choose bets on the team we like. it's just me, the bets I make vary greatly depending on my level of confidence in the team I choose. but that does not mean, I expect consistent wins. it's just that, with the little experience I have. plus, always involve insight when conducting research and analysis. which makes, I dare to speculate to bet with a high bankroll.
We all know and even realize that luck is not always on our side. but to minimize defeat, we can involve the resources we have. for example, knowledge, insight, skills and most importantly, knowing what we do. In principle, winning and losing is common in gambling. however, everything returns to the self-control we have. the same way, as you do.

[Fatunad]

Snip

These aspects are often overlooked by many gamblers and also one-time gamblers. By "one-time gamblers," I mean those who only engage in gambling for the sake of having fun from time to time, disregarding the fact that luck is not consistently on their side. Not every day can be like Christmas, and that's why, in all my years of playing, I have never exceeded my predetermined betting budget irrespective of how many winning tickets I may have, I refrain from increasing the amount I allocate for betting. If my usual weekly sportsbook budget is $20, even if all my predictions turn out to be correct, including those with high odds, I ensure that my next stake does not surpass that $20 because over-excitement can make one make a mistake in the next game's pick.

If that's true, you are one of those people who have a very high level of consistency. In fact, to be honest, I didn't do as well as you did in betting sessions. by the way, maybe what you apply to yourself may only apply to a few gamblers. and one of them, you yourself.

By the way, everyone/gambler has his own way and like you do with your gambling. I personally, consider gambling to be a part of fun entertainment, especially football betting. in a week there are many matches that are held, we can choose bets on the team we like. it's just me, the bets I make vary greatly depending on my level of confidence in the team I choose. but that does not mean, I expect consistent wins. it's just that, with the little experience I have. plus, always involve insight when conducting research and analysis. which makes, I dare to speculate to bet with a high bankroll.
We all know and even realize that luck is not always on our side. but to minimize defeat, we can involve the resources we have. for example, knowledge, insight, skills and most importantly, knowing what we do. In principle, winning and losing is common in gambling. however, everything returns to the self-control we have. the same way, as you do.

We know that gambling is really indeed for leisure and its not something that you could really make it as a living on which it would really be that just not the right way on treating it out.
We've seen lots of chances or times on where even on sports betting where upsets could happen on which no matter how in depth your analysis would be but when luck isnt on your side
then you would definitely be having that loss and its not really that shocking at all. NO matter how good you are on sports betting then there's no way that we could be able to avoid losses
because its always been part of the game. You cant really be that so confident that you could really be having that winning state forever.

How much more if we do speak about luck based ones on which risks is much more higher? This is why its really a wrong perception and believes on having that
constant winning does exist. It isnt really gambling after all if we do speak about 100% winning rate which it cant be possible.

[fullhdpixel]

It made me stop to read everything clearly.
I didn't know Sir Charles already lost that kind of amount in gambling, I thought he was the guy that would do sports gambling more because that is where his focus is instead of casino games.

Tiger Woods - $58 million. Whew!
Allen Iverson - $200 million. WTH!
These guys wasted a lot of their hard-earned money but I think they have more to spare that's why they can do it. I just don't understand why there's no one stopping them. I mean, my wife would probably leave me if she finds out I am betting $1000 in just one game or one round.  That's just crazy in my world unlike those guys who make millions.

Sometimes doing the same thing over and over again is boring and that is what sir charles have felt there. He tried something different this time and that is by playing casino games. There are so many celebrities who are reported to be involved in gambling and the amount that they have lost is not shocking anymore to the most of us because they are also earning huge. I won't say those are hard-earned but once you are at the top, earning money would have become an easy task already.

This is the reason why they can recklessly gamble it. They are also a human like us. They have a wife, family, kids, friends which are also concerned about them but if they are able to continue, it only means that they are still playing within their limits.

[QueenVera]

Well I think it is very much possible to live a very comfortable and stable life from gambling  and I've seen and I know personally  someone who lives atkeast a comfortable  life totally  off gambling  and some little business raised from gambling proceeds. He had a daughter  nf a wife and lives in his own house and not rent and he also drives a car and also owns over two unisex saloons and all these were proceeds from gambling and what really matters is how well we live our lives when we make big wins.
I'm sorry your friend got carried away but the truth is that he never made judicious  use of his winnings and that was why he went back to trenches and not necessarily  because he was a gambler.

[ChiBitCTy]

As some have said, and I will echo, gambling can absolutely be a business..but it's not a business for 99% of the people on this planet, and it's also a business that is HIGHLY volatile, so if you are to be a professional gambler (and there are many), then you've got to be able to ride the waves.

That guy from Chicago who was a recent Jeopardy champion is a professional gambler.  He's got an interesting take on how it is to be a pro gambler.- https://www.youtube.com/watch?v=5uzSkEjO7TA

[Ziskinberg]

Well I think it is very much possible to live a very comfortable and stable life from gambling  and I've seen and I know personally  someone who lives atkeast a comfortable  life totally  off gambling  and some little business raised from gambling proceeds. He had a daughter  nf a wife and lives in his own house and not rent and he also drives a car and also owns over two unisex saloons and all these were proceeds from gambling and what really matters is how well we live our lives when we make big wins.
I'm sorry your friend got carried away but the truth is that he never made judicious  use of his winnings and that was why he went back to trenches and not necessarily  because he was a gambler.

But there are only a few who can be successful in making gambling their source of living. The person you know is part of the small percentage who can really make money in gambling. This might inspire some who like to pursue their journey, but setting a limit is very important because it's only for the small percentage, and we can't force ourselves to be a part of it if we don't have the necessary skills.

With luck, you might win, but when we talk about consistent winning, skills are required.