Greed can cause a lost bet, (true or false)

[jostorres]

Greed first begins with the thought of having or adding just a bit more, and then it becomes uncontrollable.
In the case of gambling or betting, where this becomes a problem is when maybe a bettor wins once and becomes so confident or exited, that he decides to try again.
It also is a problem when one strategy of betting or gambling becomes too familiar that one only just has to play without thinking.

Greed is one of the emotions that lead men to gamble more than necessary. They don't just know when to stop and if they do, they just can't stop, mostly when enough is being drunk, it is a weekend or rest duration from work, when the wife or kids are too much to handle.

And, greed never gets you anything in the long run, even if you manage to get something out of greed temporarily, you will eventually lose it all back, so it's a very bad thing to have but it's in every human's nature, some manage to resist it but others can't, so they go with the flow and what happens next remains history for them to remember forever, greed never leaves good memories for you behind and you will always remember the decisions that you take out of greed.

Gamblers mostly tend to be greedy, because even if they manage to win some, they want more from what they've won, and this thing, most of the time, makes them lose what they've managed to earn, that is why there should never be greed taking over your mind in any situation, especially when you are gambling.

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[Fivestar4everMVP]

Greed first begins with the thought of having or adding just a bit more, and then it becomes uncontrollable.
In the case of gambling or betting, where this becomes a problem is when maybe a bettor wins once and becomes so confident or exited, that he decides to try again.
It also is a problem when one strategy of betting or gambling becomes too familiar that one only just has to play without thinking.

Greed is one of the emotions that lead men to gamble more than necessary. They don't just know when to stop and if they do, they just can't stop, mostly when enough is being drunk, it is a weekend or rest duration from work, when the wife or kids are too much to handle.

And, greed never gets you anything in the long run, even if you manage to get something out of greed temporarily, you will eventually lose it all back, so it's a very bad thing to have but it's in every human's nature, some manage to resist it but others can't, so they go with the flow and what happens next remains history for them to remember forever, greed never leaves good memories for you behind and you will always remember the decisions that you take out of greed.

Gamblers mostly tend to be greedy, because even if they manage to win some, they want more from what they've won, and this thing, most of the time, makes them lose what they've managed to earn, that is why there should never be greed taking over your mind in any situation, especially when you are gambling.

Well, if should all should be honest with ourselves, greed is not entirely bad, every emotion that human exhibits has its good side and how benefit from it, but like its commonly said that too much or everything is bad, this also applies to being greedy, and one thing about greed is that it only requires a very little application of it in whatever its been applied on, anything more than required it becomes too much, and that is where the whole problem starts..

Like in trading, greed sometimes helps us with investments decisions, remember we are told to be greedy when others are fearful, and be fearful when other are greedy, if one can correctly apply this strategy, they may likely make good profit that is beyond their imagination, so lets not speak of greed as if it comes from the pit of hell, it is here to help us with that extra push, its application, how its been applied is where the problem lies.

[Fortify]

Last 2 night I signed up to an online bet called betking (become a KING) and I bet a virtual stake with 1700 naira to win 1,438,540.92 naira, but the game was lost and the bet that made it to lost was the last one I added, before I added the last one that made the winning to be this amount, I was having double thoughts like should I make the winning a random figure 1.5 million or I should stake it at 1.3? But out of greed I refused to bet the game at 1.3 and I added the one that lost the bet, what a pity?
Greed is one thing that gets some game lost, the stake we are supposed to win out of greed we add another that get the game lost.
Out of my own experience I have learnt my lessons, but I don't believe that this opportunity might ever come again because I don't bet often, on a second thought this my story is what makes some people put more interest on gambling.

It sounds like you're trying to describe the martingale strategy without actually knowing it's name or maybe I misread your opening sentences. Either way, you have zero control over the outcomes of these bets, all those flashy buttons and virtual levers that you think can be manipulated in a way to guarantee a win - do not exist. The owner of the site has all the power and the reason they created the site is to empty any deposits you've made into their own pockets. You may have random pockets of luck, but that's all it is, they need you to win occasionally because it keeps you depositing more or you'd just leave and they lose a source of extra income. It is all about greed, as you say.

[summonerrk]

Last 2 night I signed up to an online bet called betking (become a KING) and I bet a virtual stake with 1700 naira to win 1,438,540.92 naira, but the game was lost and the bet that made it to lost was the last one I added, before I added the last one that made the winning to be this amount, I was having double thoughts like should I make the winning a random figure 1.5 million or I should stake it at 1.3? But out of greed I refused to bet the game at 1.3 and I added the one that lost the bet, what a pity?
Greed is one thing that gets some game lost, the stake we are supposed to win out of greed we add another that get the game lost.
Out of my own experience I have learnt my lessons, but I don't believe that this opportunity might ever come again because I don't bet often, on a second thought this my story is what makes some people put more interest on gambling.

It sounds like you're trying to describe the martingale strategy without actually knowing it's name or maybe I misread your opening sentences. Either way, you have zero control over the outcomes of these bets, all those flashy buttons and virtual levers that you think can be manipulated in a way to guarantee a win - do not exist. The owner of the site has all the power and the reason they created the site is to empty any deposits you've made into their own pockets. You may have random pockets of luck, but that's all it is, they need you to win occasionally because it keeps you depositing more or you'd just leave and they lose a source of extra income. It is all about greed, as you say.

Me too did not understand what the author of the topic wanted to say by saying that it was necessary to increase by 1.3 or 1.5. ...? Martingale, if this strategy is meant to act differently. Each new bet, after a losing one, should double in order to otherwise fight off the loss of the deposit and also earn. You can change this strategy to a more "soft" one - multiplying the magnification factor by 1.2 or 1.5.

And about BetKing - I was surprised that the author is playing at a casino that has already been declared a scam on the forum!
https://bitcointalk.org/index.php?topic=5287374.0
That is, even if he had won, he might have had problems withdrawing money, as dishonest casinos like to do.

[Odusko]

Greed is common among the people when we're on the winning streak. This can't be overcome that easily. It needs time, because a person getting into greed might succeed out of luck or he gets down. To get out of the mentality ends when he/she experience a massive loss. Here the OP is good that his spending is very limited and doesn't hurt him in any means. From my understanding this is the base, small bet amount will slowly increase when the person experience to win big money. So, it is all about how we have control over our activity.

The truth is that, is hard to be able to separate greed from gamblers most especially those that gamble to win money and making the winnings their highest motivation they are always carried away by their greed to make quick profits and tend to always lose since they allow they greed to becloud the sense of judgment which will prompt them to either vet excessively of selecting games based on the potential odds and its reward, without minding whether or not the selected games have the potential to win.
More also I have been a victim of not taking cash out, but I won't say that I allow greed to take over me, but I was confident in the team I give the winning to, but along the line, I lost several games, so this mistake is generally experienced by gamblers once in a while and is not peculiar to only addicts or greedy gamblers.

[DaNNy001]

And about BetKing - I was surprised that the author is playing at a casino that has already been declared a scam on the forum!
https://bitcointalk.org/index.php?topic=5287374.0
That is, even if he had won, he might have had problems withdrawing money, as dishonest casinos like to do.

C'mon man for saying this that means you didn't read the whole thread or the early pages because the op has Clearified the issue of the particular site he is talking about and although both has similar  name but am well familiar with the specific betting website the OP is talking about because it's a local betting website here in Nigeria and it's one of the most trusted I would say BETKING

[CryptoHeadlineNews]

Last 2 night I signed up to an online bet called betking (become a KING) and I bet a virtual stake with 1700 naira to win 1,438,540.92 naira, but the game was lost and the bet that made it to lost was the last one I added, before I added the last one that made the winning to be this amount, I was having double thoughts like should I make the winning a random figure 1.5 million or I should stake it at 1.3? But out of greed I refused to bet the game at 1.3 and I added the one that lost the bet, what a pity?

This is a common experience for gamblers, and most especially Sports bettors, because it once happen to me a few months ago when I staked 1000 Nigerian naira on Sportybet, and unfortunately it was also my last game of 17games that cut my slip of #1.5million naira, and one of the most painful things about this kind of lose is if you were given a good amount of cash-out and you refused simply because you had faith in the last game, which finally cut. It's the worst thing that can ever happen to anyone.

[rahmad2nd]

Out of my own experience I have learnt my lessons, but I don't believe that this opportunity might ever come again because I don't bet often, on a second thought this my story is what makes some people put more interest on gambling.

As per the title theme of this thread, greed can lead to lost bets. Of course, greed doesn't just cause the money you bet to disappear in an instant. however, you will experience regret and guilt. yep, at least, that's usually what happens. I guess, what you said is a very common problem. in fact, nearly all gamblers have had a similar experience. some of them, not infrequently experience it repeatedly. So, this is a very common problem.

Naturally, when someone is faced with big money, in this case gambling, assuming someone has a high probability of winning, psychologically, we as gamblers will choose to take that risk. although in exchange, if we lose, the money we bet is gone entirely. however, if what happens is the opposite. in other words, you get a win in that bet. I am very sure, you will not say that this is part of greed. So, what gamblers need to understand is. that the money we risk, has the potential to lose at any time and we must be prepared for that.

[danadc]

Greed is common among the people when we're on the winning streak. This can't be overcome that easily. It needs time, because a person getting into greed might succeed out of luck or he gets down. To get out of the mentality ends when he/she experience a massive loss. Here the OP is good that his spending is very limited and doesn't hurt him in any means. From my understanding this is the base, small bet amount will slowly increase when the person experience to win big money. So, it is all about how we have control over our activity.

The truth is that, is hard to be able to separate greed from gamblers most especially those that gamble to win money and making the winnings their highest motivation they are always carried away by their greed to make quick profits and tend to always lose since they allow they greed to becloud the sense of judgment which will prompt them to either vet excessively of selecting games based on the potential odds and its reward, without minding whether or not the selected games have the potential to win.
More also I have been a victim of not taking cash out, but I won't say that I allow greed to take over me, but I was confident in the team I give the winning to, but along the line, I lost several games, so this mistake is generally experienced by gamblers once in a while and is not peculiar to only addicts or greedy gamblers.

It is normal to feel greedy for some things, when it comes to money we can get an idea of everything we can win in an instant, and yes, we can get excited and maybe in a bet, be it sports or in a normal casino game we are on a good run, but what happens when we have enough money winning? Sometimes we get that greed of wanting to win more and that the casino can get more money, and therein lies the mistake, when we do that things get out of control and we can lose everything, then after having secured something we lose everything or almost everything, that's sad , but it's common in players, that's why you have to control yourself.

[Hamphser]

Greed is common among the people when we're on the winning streak. This can't be overcome that easily. It needs time, because a person getting into greed might succeed out of luck or he gets down. To get out of the mentality ends when he/she experience a massive loss. Here the OP is good that his spending is very limited and doesn't hurt him in any means. From my understanding this is the base, small bet amount will slowly increase when the person experience to win big money. So, it is all about how we have control over our activity.

The truth is that, is hard to be able to separate greed from gamblers most especially those that gamble to win money and making the winnings their highest motivation they are always carried away by their greed to make quick profits and tend to always lose since they allow they greed to becloud the sense of judgment which will prompt them to either vet excessively of selecting games based on the potential odds and its reward, without minding whether or not the selected games have the potential to win.
More also I have been a victim of not taking cash out, but I won't say that I allow greed to take over me, but I was confident in the team I give the winning to, but along the line, I lost several games, so this mistake is generally experienced by gamblers once in a while and is not peculiar to only addicts or greedy gamblers.

It is normal to feel greedy for some things, when it comes to money we can get an idea of everything we can win in an instant, and yes, we can get excited and maybe in a bet, be it sports or in a normal casino game we are on a good run, but what happens when we have enough money winning? Sometimes we get that greed of wanting to win more and that the casino can get more money, and therein lies the mistake, when we do that things get out of control and we can lose everything, then after having secured something we lose everything or almost everything, that's sad , but it's common in players, that's why you have to control yourself.

Cant really be avoided on some times specially when we do gamble and there are really moments that we do feel on being greedy on which it would really be that normal that you would really having those second

thoughts and you would be boggling out that you should go further or would really be stopping and this is why decision making would really be crucial and if you arent really that good
on controlling your greed then you would really be ending up on making bad decisions on which it would really be leading yourself to making bad decisions.
This is why we should really know on when to take profits and completely stop on mid way. There are people who are really that have strong mind control and discipline.
It would really be that hard but not something that would be impossible on doing so.

It all matters on choice and control towards self. This is why it would really wise for you to make out such decision which you do know that it would be giving advantage.

[Nwada001]

OP, you don't have to blame yourself for your loss; the reality is that you have just lost the game, and that's what gambling is all about. Either you win or you lose. But if I were you, I would probably have staked the game twice; the first one will be for your original stake, and for the second one, you will just have to reduce the odds either by removing the last games you added, or if you still have doubts on the two stakes, you might want to make it three by reducing the odds again and stake the remaining ones. For example, if you place a bet on 15 sports games for #1.7k, you can repeat the same bet, but you will just have to remove some games and stake on the rest. You can do it up to three places, so one of them will definitely 😁 give you a win.

There is one popular saying among gamblers in my local area: "Game way go cut go cut." Even if the OP has the idea of interchanging the game into three different places just to make sure that something will be won at the end of the day, something will definitely still make him add some more odd to make them round again, even if it's the lowest amount from the already staked one. Especially in the kind of game that the OP used "Visual Game" before, you can rearrange your game into three different places. The game might have even ended already. They are not like normal football sport betting; the games just happen some fast. I haven't tried it before, but I know it doesn't take up to 30 minutes before each game starts and ends.

[letteredhub]

Last 2 night I signed up to an online bet called betking (become a KING) and I bet a virtual stake with 1700 naira to win 1,438,540.92 naira, but the game was lost and the bet that made it to lost was the last one I added, before I added the last one that made the winning to be this amount, I was having double thoughts like should I make the winning a random figure 1.5 million or I should stake it at 1.3? But out of greed I refused to bet the game at 1.3 and I added the one that lost the bet, what a pity?
Greed is one thing that gets some game lost, the stake we are supposed to win out of greed we add another that get the game lost.
Out of my own experience I have learnt my lessons, but I don't believe that this opportunity might ever come again because I don't bet often, on a second thought this my story is what makes some people put more interest on gambling.

It sounds like you're trying to describe the martingale strategy without actually knowing it's name or maybe I misread your opening sentences.

The description @rachel9385 described above is not that of martingale strategy/theory, you @fortify did misread it mate so let me try to give an interpretation. The martingale strategy talks about the continuous doubling of our staking amount on each bet as a way to recover previous losses through one win that we may be lucky to get.

But this explication of @racheal9385 he's talking about how out of greed he added one more prediction to the already number of predictions he had made, and that extra prediction cost him his bet. And the reason for adding the extra prediction was because he wanted to increase his potential winning amount from 1.3Million to 1.5million but unfortunately for him the outcome of the last odd he added to raise his wining amount didn't play as predicted, an act he is attributing to greed.
I hope my explanation helped.

[ethereumhunter]

Just the name "greedy" has a negative meaning attached to it. In any case greed will destroy a person's life, especially this is gambling which we all know that we must really suppress that greedy nature.
In cases like this, usually a gambler has won and earned a decent profit from the amount they deposited. But because they want a bigger win, then they will be uncontrollable. this is where something detrimental will come, they should be able to get a win even though it is small, in the blink of an eye they will experience a loss, maybe they will even chase the initial loss by making another deposit.
You are right, if we only play with the aim of having fun, then we will not be greedy, because surely we will realize that it is a victory that we should enjoy, not even want more.

If you want something in excess, it won't always be good for us, especially if we use more methods than we already have. And it also doesn't guarantee that we can get it easily because we might have to use more and then we can get it and it's also not a guarantee that we can get it. Greed will give us nothing, but many people still want something more. But that's normal because many people can never be satisfied with what they have. They should be able to try again at another time and be satisfied with what they have now. And if you play gambling, don't chase victory, but stop playing gambling if you have had enough. There is still plenty of time to play gambling and resting for a while will not interfere with your gambling time at other times.

[Bitinity]

604 odds? Lol! Those are some crazy odds and you lost it because of bad luck op(Not because of greed).

I would say he lost it because both greed and bad luck because from his story, there was a time when he had to decide whether to add the last selection or not. He does admit it himself that it was due to his own greed but obviously regretting it will not change the fact that he had to lose the bet because he want some additional money by adding the last selection.

[Fivestar4everMVP]

604 odds? Lol! Those are some crazy odds and you lost it because of bad luck op(Not because of greed).

I would say he lost it because both greed and bad luck because from his story, there was a time when he had to decide whether to add the last selection or not. He does admit it himself that it was due to his own greed but obviously regretting it will not change the fact that he had to lose the bet because he want some additional money by adding the last selection.

That's it exactly, from the screenshot OP posted, it clearly showed that that last game was what cost him the winning, and like you just said, he based on his own statement never wanted to add that last game, but because he need to get the potential win amount up to the amount shown on the ticket, he included the game even when he wasn't as sure and confident in the outcome of the game like he is sure about the outcome of the rest, and that cost him a very nice sum of money which he would have won.

Personally though, I will not attribute the loss to badluck, its nothing to do with bad luck but greed, because already, op knew he may not likely win that game but still went ahead to include it.

[tusandii]

Greed has led so many gamblers to great loss and the problem is that gamblers will never change from their greedy habit because they want to hit it big. I am not exempted from this,since sometimes I prefer betting on longer slip than short ones. The fact is that as gamblers,we always have that hope and belief that we will win the game and that is where greed blind folds us on. If a gambler forgets about winning a game,he will stay more focused on betting wisely and will also put lost into consideration. This will enable him gamble for fun and he might end up winning.

Greed is possessed by almost everyone and only a few gamblers can control themselves not to have a greedy attitude.
So far, there have been lots of adverse events that gamblers have experienced because they always want to get bigger things and of course this is a disaster for anyone.
The average gambler who often has greed is those who want wealth from the results of gambling, that's why every win is unacceptable and instead wants to have bigger wins.

The idea of getting back with previous losses would more likely to take place as well which is one's way to hide greed., aside from just earning more. Then it would be a domino effect. First attempt would be okay but the second one will give a gaslight that you still have more of your winnings, then it would continue. In gambling it will always be advised to be preventive of negative outcomes no matter how huge your advantage is.

Most gamblers must have the desire to return losses when they experience a sizable loss and there is no way gamblers can hide their greed because their minds are complicated and have the ambition to win big.
So far I don't think there are many gamblers who can control themselves over greed and of course this trait appears at any time without realizing it.

But are you sure that gamblers can prevent negative results when in front of them there is a clear opportunity for big profits that can be obtained when they win?
Sorry but I'm not sure about that because humans have unstable attitudes and are easy to change.

[libert19]

Greed is a negative emotion, hence it's results are always negative. Learn to identify and don't be carried away by it.

[Weawant]

604 odds? Lol! Those are some crazy odds and you lost it because of bad luck op(Not because of greed).

I would say he lost it because both greed and bad luck because from his story, there was a time when he had to decide whether to add the last selection or not. He does admit it himself that it was due to his own greed but obviously regretting it will not change the fact that he had to lose the bet because he want some additional money by adding the last selection.

He lost because of one game and that's the last game he added to his slip before locking in his bet. He had doubts of that last game but still went ahead to add it to his game and that's disobeying your feelings. He was already winning but added the game to get more money.

The OP was greedy and he has admitted it in his post that's why he titled the thread about greed causing losses and that's true because he was greedy and wasn't because of him having badluck. He has learnt his lesson from the mistake and in future will be less greedy.

Greediness makes you always wanting to have more and when you don't have a satisfaction limit to what you want, you'll always have a regrets like the OP. Let imagine how much he was about the make but his greed made it impossible fo him to win and he'll regret it for life.

[Aanuoluwatofunmi]

Greed is a negative emotion, hence it's results are always negative. Learn to identify and don't be carried away by it.

Some have greed and never know they do but whenever you discover that you're always being attracted to doing all things or aiming at achieving all things by all means then be careful you're likely to be having a little iota of greed in you before it turns to something very big one may not be able to control or contain, some gamblers have because of this same greed loose alot of opportunities they would have received while gambling from the decision they made when greed is being involved.

[Learn Bitcoin]

I believe most of us promise ourselves that we don't bet big again after losing a big bet. I do not gamble regularly. I usually deposit a small amount to gamble for fun. I was gambling moderately in the last six months. But, this week, I saw a good promo on a casino and decided to deposit $50. I won another $45 by playing those games and withdrawing the funds.

After a few hours, I saw the withdrawal wasn't released yet. So I decided to cancel it and play further. Guess what? I ended up losing all $95, and the last two bets was $45 each. I got some red streaks and I thought this time it will be green. I often promise that I won't do that. But, I end up losing them.