How to manage gambling winnings

[Fredomago]

~

Greedy in the gambling was undivided one,because the things which deal with the money the people get greedy to multiple it.The same phenomenon will be applied to the trading of stocks and the cryptocurrency.Some traders will use to trade a particular coin will all his money.So like that the gamblers after seeing their maximum multiple of certain betting.The gamblers will choose the same betting again and repeatedly.So he thought the multiple of the betting will increase in the short period.But the betting which gives more multiple is very rare.But the gamblers with greedy will try that option again to multiple their initial.

This is a common pattern. Greed can indeed be a powerful motivator that drives people to seek out opportunities to multiply their money quickly. In the context of gambling, this tendency often leads to risky behavior, such as placing large bets in the hopes of achieving significant returns in a short period. Similarly, in trading and investing, some people may allocate all their funds to a single asset, hoping for substantial gains.

The allure of multiplying the initial investment can cloud judgment and lead to poor decision-making. While there may be instances where such strategies pay off, they are often the exception rather than the rule. Chasing after opportunities for high multiples without careful consideration of the associated risks can result in significant losses. Diversification, risk management, and disciplined decision-making are key principles that can help mitigate the negative effects of greed and improve the chances of long-term success.

Yeah, if you have all those factors to prevent you from any kind of greed will help you to maximize the use of those winning money, unlike if you don't have those preventions, you'll ends up pushing forward and aim for more. I like the idea of limiting yourself and consider all the factors that may allow you to lessen the chance of adding more attempts which is outside from your set target goals.

Maximizing the win and minimizing the losses, it's more on self-control and having wise and practical decision making.

[ethereumhunter]

Easy to say but if you are already on such condition or situation then you would definitely be ashamed on the condition that you are into.When you do win up on gambling then it would really be just that depending on you whether you would really be securing your profits into something which is worth. I do agree that when the time comes that you are really that mindful about having some other source of income then you would be thinking on having those investment kind of spending with those winnings but just like on what most people been saying on here on which i do agree that majority of those gamblers would really be
using back those winnings into the house and aiming for more. One of the main reasons on why gambling industry is really that profitable due into this kind of behavior.

We must try to get used to controlling ourselves and not carelessly using the winning money. It won't be worth it because we won't be able to enjoy the winnings we could use for other things. And there's no harm in telling the truth about what we're facing to our parents or other family members because that can make them understand our situation. And even though there will be a desire to continue gambling, we must be able to suppress it so that we can use the winnings well rather than gamble again. By doing things like that, we can think of something that can benefit us in the future. Having an investment is the right thing to do, so we can try to find it and start investing some money to make future profits.

[junder]

~

That's true, gambling that is done cannot result in complete victory, even if you bet a lot or often, the risk of losing still dominates. It is true that what you said is aware of the opportunities and risks in gambling, because this might make us realize that gambling will not always give us a win, even though we have won, it doesn't mean that it will be easy to win in the future, but that winning in gambling is cannot be obtained easily, therefore we have to be smart in managing the winnings we get, don't waste them.

because continuing to gamble after winning can trigger emotions, where initially we will be more daring to increase the bet amount and as the game progresses it can make us lose control of ourselves. which could eliminate the victory that has been obtained and in the end will only result in annoyance and disappointment.

A fairly good response, where you express an understanding of the risks and challenges of gambling. Having an understanding that gambling is not always reliable, and that continuing to gamble after winning can trigger dangerous and uncontrollable emotions, is an important first step in managing gambling behavior well.
Managing wins wisely and not acting stupidly in chasing losses by continuing to bet more, this is a strategy that should be implemented by all gamblers, in order to avoid impulsive behavior that leads to wrong betting decisions. Meanwhile, controlling emotions and remaining alert to the dangerous gambling cycle is key to our mental and financial health when gambling.

And when we find ourselves facing problems in our gambling activities, it is also quite important for us to have the right social support and resources, such as talking to the people closest to us, and seeking help from a counselor.

That's right, gambling again after winning can trigger emotions which in my opinion can trigger them to lose control. with the big possibility that they will be emotional about the gambling they do after winning, it will also make them even more brave to take action, including increasing the amount of their bet, because by winning, of course it is an opportunity for them to bet bigger, the aim of which is to win. an even bigger one.

However, even so, the risk of losing money or losing is still there and this is also a possibility that could happen and with this, it is possible that they could become emotional about the gambling they do. It's true what you said, manage your winnings wisely, don't take stupid actions that could trigger the loss of the winnings you have obtained. and in my opinion those who still continue gambling when they have won means they are chasing defeat, not victory. Of course, financial and mental health must be considered, and with those who gamble excessively, perhaps they don't think about this, therefore they take excessive actions or actions that are outside normal limits.

[Shishir99]

Simply put gambling addicts will never be satisfied with whatever amount they manage to win, because this is a typical gambler where when they win they will be greedy and when they lose they will be even more curious, so there is absolutely no good situation for them, and I think they are just waiting for the time to finally run out of all the treasures they have and only then can they usually realize when they really feel deep trauma.

I guess we all had a moment when we lost our entire balance and then regretted it because we were in a good position. We regret that we could have stopped when I had a $20 profit. But, I wanted to make another $10 or so, but later we busted the entire balance. I guess every gambler had such a moment. It happened to me at least 10 times or more. We understand it only after we lose the entire balance.

This is why it's important to have a goal when we gamble. We should have a stop-loss limit in gambling as we have stop-loss in trading. But, your gambling stop loss should be yourself. No casinos would implement such a feature because they want us to loss.

[zuzie]

Simply put gambling addicts will never be satisfied with whatever amount they manage to win, because this is a typical gambler where when they win they will be greedy and when they lose they will be even more curious, so there is absolutely no good situation for them, and I think they are just waiting for the time to finally run out of all the treasures they have and only then can they usually realize when they really feel deep trauma.

I guess we all had a moment when we lost our entire balance and then regretted it because we were in a good position. We regret that we could have stopped when I had a $20 profit. But, I wanted to make another $10 or so, but later we busted the entire balance. I guess every gambler had such a moment. It happened to me at least 10 times or more. We understand it only after we lose the entire balance.

This is why it's important to have a goal when we gamble. We should have a stop-loss limit in gambling as we have stop-loss in trading. But, your gambling stop loss should be yourself. No casinos would implement such a feature because they want us to loss.

The majority of all gamblers have experienced something like what you said above, even I have also experienced it and of course when a gambler experiences something like that it is definitely triggered by their own greed and they also don't have any goodness. control to anticipate it, then a gambler will definitely think about continuing to bet large amounts when he has won and things like that are usually done by a gambler when feelings of emotion and greed appear strongly in his mind.

[Dewi Aries]

Unfortunately, most of us do not set any plan when we start our gambling session. We gamble blindly and we expect another big win after we hit something big. That is what we call greed. If we set a plan when we start the session like, I will take $100 profit and end the session, it could have been more organized and we would have been able to control ourself.

Unfortunately, we blindly start the session and when we win a hundred bucks, we expect to win another hundred bucks. We must have a goal that if my balance reaches that amount, I will cash it out and stop for today. Unfortunately, most of us do not do that.

Yes and they are the ones who are so focused on winning that all they think about is "how can I win" without thinking about anything that leads to preventive measures to minimize the possibility of losing more. On the other hand I am not saying that by practicing greed you will always lose, no matter if you are lucky enough then you can win the amount you want but the fact and the unfortunate thing is that overall greed more often makes gamblers end up with regret or stress due to not being able to accept the fact that what they expected did not happen.

Simply put gambling addicts will never be satisfied with whatever amount they manage to win, because this is a typical gambler where when they win they will be greedy and when they lose they will be even more curious, so there is absolutely no good situation for them, and I think they are just waiting for the time to finally run out of all the treasures they have and only then can they usually realize when they really feel deep trauma.

Humans are naturally greedy and this is why we do really missed out on those basic stuffs even just as simple as on stopping gambling when we are on profits but instead people would really be that playing further more on which this is resulting on losing up big time and this is why it would really be that best that you should really be mindful about on the actions that you are making. Just like been said by others that people would really be just that planning to make those changes on the time that they would really be that experiencing those hardship and not really tending to do it earlier so that they would
really be able to avoid those hard situations in life specially in talking about money or finances. If you are really just that wise then you would definitely do those basic stuffs.

Yes, all humans have greed in them and the difference may be that there are some who are able to control it and there are also some who are completely unable to control their greed, and gambling is one of the activities that can trigger human greed because of the "opportunity to win" in gambling. This means that someone who cannot control their greed in gambling then maybe we can call them an addicted gambler, as I said earlier that this is what will happen when you come as a result of being too interested in winning opportunities then one day and over time then you will become a greedy gambler.

I understand that it is not easy to ignore greed especially when you are in a winning situation, logically the object of victory in gambling is money and everyone needs and wants money and when you do not put any caution or do not apply any risk management then obviously you will always chase victory with the aim of getting more. But on the other hand
It is a fact that gambling is a risk-taking activity which means that the possibility of losing will not be avoided at any time and this is the reason why gambling cannot be used as a place to earn.

[Westinhome]

I guess we all had a moment when we lost our entire balance and then regretted it because we were in a good position. We regret that we could have stopped when I had a $20 profit. But, I wanted to make another $10 or so, but later we busted the entire balance. I guess every gambler had such a moment. It happened to me at least 10 times or more. We understand it only after we lose the entire balance.

This is why it's important to have a goal when we gamble. We should have a stop-loss limit in gambling as we have stop-loss in trading. But, your gambling stop loss should be yourself. No casinos would implement such a feature because they want us to loss.

The immediate withdrawal of the winning was the important one in the gambling site,because of the gamblers keep on playing the game it will leads to the loss of the initial capital in the gambling site.But if the gamblers believe in the entire process can understand the game,So they won’t fear about the loss of money in the gambling site.If the gamblers had made 20$ as you said from the 10$.He should get satisfied with the 10$,if they didn’t accept the winning money.Consider now the luck of the gamblers was reduced because of their continuous game.Now the gamblers will play the random betting in the gambling site leads to loss.

[Shishir99]

The immediate withdrawal of the winning was the important one in the gambling site,because of the gamblers keep on playing the game it will leads to the loss of the initial capital in the gambling site.But if the gamblers believe in the entire process can understand the game,So they won’t fear about the loss of money in the gambling site.If the gamblers had made 20$ as you said from the 10$.He should get satisfied with the 10$,if they didn’t accept the winning money.Consider now the luck of the gamblers was reduced because of their continuous game.Now the gamblers will play the random betting in the gambling site leads to loss.

That is what money management is. As I said in another post, we should have a plan before we start a session. If a gambler starts a gambling session without setting up a goal about his possible winnings or loss, they won't stop until they loss their entire balance. We should have a stop point. No matter if we win or we loss. We must set a limit like I will stop gambling if I win $50 in this session.

Or it could be, I will stop gambling if I loss $30 in this session and I will try tomorrow to recover what I lose. If we try immediatly to recover, most of the times we place high risk bets and we loss the entire balance. So yeah, money management is important.

[YOSHIE]

If you're a profitable sports bettor or any casino player, you should make sure to save money for tax time.

We live on the continent where gambling is not taxed, that is our advantage in the name I can take all the winnings and profits to the bank, there are no details and details for us in managing gambling winnings, I win, take it and the bank accepts it happily.

I understand that different countries have different gambling rules that apply, in my country gambling is illegal, but legal, you must be familiar with such rules, so we only pay a small transfer fee to complete, that's crypto or fiat online gambling in my area, The point is: we are not too burdened in managing the winnings we achieve in gambling, we are still safe in every way.

[Blitzboy]

Unfortunately, most of us do not set any plan when we start our gambling session. We gamble blindly and we expect another big win after we hit something big. That is what we call greed. If we set a plan when we start the session like, I will take $100 profit and end the session, it could have been more organized and we would have been able to control ourself.

Unfortunately, we blindly start the session and when we win a hundred bucks, we expect to win another hundred bucks. We must have a goal that if my balance reaches that amount, I will cash it out and stop for today. Unfortunately, most of us do not do that.

Yes and they are the ones who are so focused on winning that all they think about is "how can I win" without thinking about anything that leads to preventive measures to minimize the possibility of losing more. On the other hand I am not saying that by practicing greed you will always lose, no matter if you are lucky enough then you can win the amount you want but the fact and the unfortunate thing is that overall greed more often makes gamblers end up with regret or stress due to not being able to accept the fact that what they expected did not happen.

Simply put gambling addicts will never be satisfied with whatever amount they manage to win, because this is a typical gambler where when they win they will be greedy and when they lose they will be even more curious, so there is absolutely no good situation for them, and I think they are just waiting for the time to finally run out of all the treasures they have and only then can they usually realize when they really feel deep trauma.

Humans are naturally greedy and this is why we do really missed out on those basic stuffs even just as simple as on stopping gambling when we are on profits but instead people would really be that playing further more on which this is resulting on losing up big time and this is why it would really be that best that you should really be mindful about on the actions that you are making. Just like been said by others that people would really be just that planning to make those changes on the time that they would really be that experiencing those hardship and not really tending to do it earlier so that they would
really be able to avoid those hard situations in life specially in talking about money or finances. If you are really just that wise then you would definitely do those basic stuffs.

Yes, all humans have greed in them and the difference may be that there are some who are able to control it and there are also some who are completely unable to control their greed, and gambling is one of the activities that can trigger human greed because of the "opportunity to win" in gambling. This means that someone who cannot control their greed in gambling then maybe we can call them an addicted gambler, as I said earlier that this is what will happen when you come as a result of being too interested in winning opportunities then one day and over time then you will become a greedy gambler.

I understand that it is not easy to ignore greed especially when you are in a winning situation, logically the object of victory in gambling is money and everyone needs and wants money and when you do not put any caution or do not apply any risk management then obviously you will always chase victory with the aim of getting more. But on the other hand
It is a fact that gambling is a risk-taking activity which means that the possibility of losing will not be avoided at any time and this is the reason why gambling cannot be used as a place to earn.

Even the most diligent can be swayed by "just one more win" in this internal war. Time and time again, this attraction turns the cautious into the compulsive, a subtle but hazardous change. Gambling is a surefire way to lose, like the tides. Ironically, many get nothing while pursuing more. The gambler's paradox is that the mechanism designed to win is ideally designed to trap.

Gamblers depend on risk management, a term often used informally. Not only a tactic, but a necessity. Without it, greed is inevitable. True wisdom in this high-stakes game of chance is the ability to walk away from losses.

[Agbe]

If that works for you, it might not work for others because families and expenses are differs. Probably that works for you because you are a single and it other is a married man then he would need more money to settle some bills so saving is not recorded from gamble. And you said, "You calculate your winning every week", is it that you wins every week? If is yes then gambling is your career and job now since you make money from it every week. When some people people win only once a month. And if I will advise people to manage their gambling wins, I will tell them to create a budget and with the budget. You gave to spend you money on the major things, either your debt or others. A gambler's savings would end up in gambling again. Unless the person is not an addict but if it is an addict then it will end up in gambling again.

[Dewi Aries]

Humans are naturally greedy and this is why we do really missed out on those basic stuffs even just as simple as on stopping gambling when we are on profits but instead people would really be that playing further more on which this is resulting on losing up big time and this is why it would really be that best that you should really be mindful about on the actions that you are making. Just like been said by others that people would really be just that planning to make those changes on the time that they would really be that experiencing those hardship and not really tending to do it earlier so that they would
really be able to avoid those hard situations in life specially in talking about money or finances. If you are really just that wise then you would definitely do those basic stuffs.

Yes, all humans have greed in them and the difference may be that there are some who are able to control it and there are also some who are completely unable to control their greed, and gambling is one of the activities that can trigger human greed because of the "opportunity to win" in gambling. This means that someone who cannot control their greed in gambling then maybe we can call them an addicted gambler, as I said earlier that this is what will happen when you come as a result of being too interested in winning opportunities then one day and over time then you will become a greedy gambler.

I understand that it is not easy to ignore greed especially when you are in a winning situation, logically the object of victory in gambling is money and everyone needs and wants money and when you do not put any caution or do not apply any risk management then obviously you will always chase victory with the aim of getting more. But on the other hand
It is a fact that gambling is a risk-taking activity which means that the possibility of losing will not be avoided at any time and this is the reason why gambling cannot be used as a place to earn.

Even the most diligent can be swayed by "just one more win" in this internal war. Time and time again, this attraction turns the cautious into the compulsive, a subtle but hazardous change. Gambling is a surefire way to lose, like the tides. Ironically, many get nothing while pursuing more. The gambler's paradox is that the mechanism designed to win is ideally designed to trap.

Gamblers depend on risk management, a term often used informally. Not only a tactic, but a necessity. Without it, greed is inevitable. True wisdom in this high-stakes game of chance is the ability to walk away from losses.

That's right, and what you've said is proof positive that "change" does happen over time and that hardly any gamblers realize this especially if they were cautious gamblers to begin with, which is why in other discussions I've said that every gambler really needs to be assertive, It doesn't matter if you've made a commitment to yourself to be a responsible gambler because human nature, interests and behaviors are likely to change over time, especially when it comes to gambling where there are so many tempting things that can tempt you subconsciously and as I said above, awareness is an aspect that must be applied in all situations when you gamble.

I think it's a fact that greed always ends up as a vehicle that will drive you to a dead end. This means that instead of getting a pleasant atmosphere from the scenery that can spoil the eyes but instead what happens is that you get lost and this is the fact of greed. On the other hand yes, risk management is a very important thing that should not be forgotten because this is what will be your savior during the trip.

[southerngentuk]

Starting a business requires planning, hard work, and calculated risks. Gambling, on the other hand, relies heavily on luck and chance. Waiting for a big win to fund your business is like building a house on sand – it might hold for a while, but a single storm can bring it all down. Even with the best intentions, the allure of gambling can be strong. A big win could easily be used for another round of bets, leaving your business dreams in the dust. Remember, self-control is crucial, and gambling can be a slippery slope.

The longer you wait, the more opportunities you lose. Someone else could snatch your business idea, valuable time slips away, and your momentum dwindles. Starting small and gradually building your business gives you valuable experience and allows you to adapt as you learn. Building a successful business is a marathon, not a sprint. Relying on a one-time windfall for funding creates an unsustainable model. Start small, reinvest profits, and focus on building a solid foundation for long-term growth.

[slapper]

Starting a business requires planning, hard work, and calculated risks. Gambling, on the other hand, relies heavily on luck and chance. Waiting for a big win to fund your business is like building a house on sand – it might hold for a while, but a single storm can bring it all down. Even with the best intentions, the allure of gambling can be strong. A big win could easily be used for another round of bets, leaving your business dreams in the dust. Remember, self-control is crucial, and gambling can be a slippery slope.

The longer you wait, the more opportunities you lose. Someone else could snatch your business idea, valuable time slips away, and your momentum dwindles. Starting small and gradually building your business gives you valuable experience and allows you to adapt as you learn. Building a successful business is a marathon, not a sprint. Relying on a one-time windfall for funding creates an unsustainable model. Start small, reinvest profits, and focus on building a solid foundation for long-term growth.

You mention self-control correctly. Proactive vision goes beyond rejecting temptation. Rolling the dice with your future? That's dangerous and risky

Your idea may be stolen. However, implementation is equally as important as idea. The real game is there. Persistence, adaptation, and willpower are needed on the battlefield. Starting small is war strategy, not counsel. Profit reinvestment, solid foundations? Empires are built that way. Our goal is to climb the mountain of purposeful, hard-won success, not just avoid gambling

[klidex]

Simply put gambling addicts will never be satisfied with whatever amount they manage to win, because this is a typical gambler where when they win they will be greedy and when they lose they will be even more curious, so there is absolutely no good situation for them, and I think they are just waiting for the time to finally run out of all the treasures they have and only then can they usually realize when they really feel deep trauma.

I guess we all had a moment when we lost our entire balance and then regretted it because we were in a good position. We regret that we could have stopped when I had a $20 profit. But, I wanted to make another $10 or so, but later we busted the entire balance. I guess every gambler had such a moment. It happened to me at least 10 times or more. We understand it only after we lose the entire balance.

This is why it's important to have a goal when we gamble. We should have a stop-loss limit in gambling as we have stop-loss in trading. But, your gambling stop loss should be yourself. No casinos would implement such a feature because they want us to loss.

Only a few, of the facts are that there are some gamblers who do not go beyond the limits so as not to cause a loss of economic balance caused by gambling, people like that are just people who think too greedily and believe they can win more money from their gambling so without realizing it they actually lose all the money that they had until they finally regretted it. If you know how gambling works, you should not repeat the same mistakes. If you have already won, whether $10 or $20, don't keep gambling if it gets smaller, stop and save it if the win is not big and you can repeat it again tomorrow.

The goal of gamblers is to win and make a profit after that they can make a decision whether to continues gambling to get more but instead lose it all or it is better to cash it out so that they can manage the winnings well and use it to supplement your needs or keep it in your wallet to gamble again anytime and don't spend it just 1 time on a gambling site.

[Pierre 2]

I think its best to leave some winnings behind to generate money for your future. In my case I would at least deposit %25 of profits to stock market based funds, in our country funds have %10 tax at Maximum. Hell %0 if you invest in national stock markets which is awesome. I would spend like another %25 and final %50 would return back to online casinos or betting websites. I just like turn my money into more and more gains.

[Poker Player]

In my case I don't worry too much because the profits I have from playing poker are not excessively high, and I also have tax deductions that compensate me for those profits. I also have a good emergency fund and sinking funds to draw from if I suddenly have a high bill.

[Oilacris]

In my case I don't worry too much because the profits I have from playing poker are not excessively high, and I also have tax deductions that compensate me for those profits. I also have a good emergency fund and sinking funds to draw from if I suddenly have a high bill.

If you already have funds for emergency needs then you will be able to use your gambling winnings for things you want and don't need to think about anything because you already have the funds you really need when you have emergency needs, but for those who don't have funds for emergency needs Of course they have to use the winnings they get well so that they can manage it well and if they can manage it well of course this will make them have funds whenever they have the desire to gamble.

There's no such thing about enough fund when we do speak about emergency fund, as much as possible it would be best that you should save and save.

[Fredomago]

I think its best to leave some winnings behind to generate money for your future. In my case I would at least deposit %25 of profits to stock market based funds, in our country funds have %10 tax at Maximum. Hell %0 if you invest in national stock markets which is awesome. I would spend like another %25 and final %50 would return back to online casinos or betting websites. I just like turn my money into more and more gains.

If you have that confidence and you fully trust your skills taking that shot might work, I do understand that trying back your luck and duplicate the previous outcome can be done though no assurance at all, it's more on how you really understand the game and how you see your potential, the good catch is you still placing portions of your winnings to investment.

Which will generate additional growth while you are still trying to make more money out from your gambling activities, just make sure that you won't withdraw those investment if you lose which most of the time a gamler wrong decision when they start losing, they transfer back the money and lose it back to the house.

[Shishir99]

If you know how gambling works, you should not repeat the same mistakes. If you have already won, whether $10 or $20, don't keep gambling if it gets smaller, stop and save it if the win is not big and you can repeat it again tomorrow.

We all could suggest what to do and what not to do. But, How many of us follow these suggestions? I usually suggest to others not to deposit any big amount not to place big bets and not continue when they are losing. But, you would laugh after hearing that I do these things myself and then again, I suggest others not to do these mistakes 

This is one of the reasons I have been trying to exit gambling and I would say I am kind of successful. I did not gambled any big amount of money for a while. I will gamble only for entertain purposes from now on.