Gambling mistake repeated by the gamblers

[Biscutard]

Indeed right, when you still seeing balance inside your bankroll you mostly thinks that you'll capable to make things profitable unknowingly doing something that already hurting your balance to the point that you already lose everything, you keep doing that same mistake as greed mostly dominated us, hoping and aiming for big profits instead of being contented with some amount of money that you already earn,.

People who gamble to win and become a source of income are thinking wrongly and need to be corrected. I'm not a gambling addict so I don't know how to be greedy in gambling to get bigger wins.

I do not think they will listen because they do not need to be corrected what they need is to realize how wrong they are with the thought of gambling to earn as their primary source of income..
As long that kind of mindset is still imprinted to their minds they will never get to listen what everybody is trying to say, this is base on my own personal experience with dealing to a person which was my former co-worker in the same department who quit and resigned his job because he hit big in gambling and he tried to continue his living by doing more of the gambling work. We have not seen for a long time now but I heard he is now working again to a different company in which he again started at the bottom position.

[angrybirdy]

Indeed right, when you still seeing balance inside your bankroll you mostly thinks that you'll capable to make things profitable unknowingly doing something that already hurting your balance to the point that you already lose everything, you keep doing that same mistake as greed mostly dominated us, hoping and aiming for big profits instead of being contented with some amount of money that you already earn,.

People who gamble to win and become a source of income are thinking wrongly and need to be corrected. I'm not a gambling addict so I don't know how to be greedy in gambling to get bigger wins.

I do not think they will listen because they do not need to be corrected what they need is to realize how wrong they are with the thought of gambling to earn as their primary source of income..
As long that kind of mindset is still imprinted to their minds they will never get to listen what everybody is trying to say, this is base on my own personal experience with dealing to a person which was my former co-worker in the same department who quit and resigned his job because he hit big in gambling and he tried to continue his living by doing more of the gambling work. We have not seen for a long time now but I heard he is now working again to a different company in which he again started at the bottom position.

You're right, usually no matter what advice we give them, they don't really listen because all they have in mind is their own. Been there done that, I just got tired of giving advice because everything I say that is for their good is just ignored so I just let it go, because they will learn better when they experience the things that we always say to them, then when it happens to them, they will only remember all the advice we gave them. That's why we help them so that they don't end up in such a situation, but it's their choice whether to listen or not, as long as we are kind to them.

[Solosanz]

I do not think they will listen because they do not need to be corrected what they need is to realize how wrong they are with the thought of gambling to earn as their primary source of income..
As long that kind of mindset is still imprinted to their minds they will never get to listen what everybody is trying to say, this is base on my own personal experience with dealing to a person which was my former co-worker in the same department who quit and resigned his job because he hit big in gambling and he tried to continue his living by doing more of the gambling work. We have not seen for a long time now but I heard he is now working again to a different company in which he again started at the bottom position.

Different person will have different threshold, if you're get paid for $1K per month, but you win $100K from gambling, most people will resign because they think their jobs aren't worth it anymore. However, when someone don't have experience to manage big amount of money, they usually spend their money for unnecessary thing and believe it's a good investment.

That's why someone who won a lottery mostly back become poor because they can't manage their money.

[Fivestar4everMVP]

I do not think they will listen because they do not need to be corrected what they need is to realize how wrong they are with the thought of gambling to earn as their primary source of income..
As long that kind of mindset is still imprinted to their minds they will never get to listen what everybody is trying to say, this is base on my own personal experience with dealing to a person which was my former co-worker in the same department who quit and resigned his job because he hit big in gambling and he tried to continue his living by doing more of the gambling work. We have not seen for a long time now but I heard he is now working again to a different company in which he again started at the bottom position.

Different person will have different threshold, if you're get paid for $1K per month, but you win $100K from gambling, most people will resign because they think their jobs aren't worth it anymore. However, when someone don't have experience to manage big amount of money, they usually spend their money for unnecessary thing and believe it's a good investment.

That's why someone who won a lottery mostly back become poor because they can't manage their money.

Well, you are right, but then, people who fall under this category are mostly people who are possibly just hitting the big amount of money for the very first, or people that have been sworn for; that for the rest of their life, they will remain useless.

Some body like myself whom over the years have gained wealth of experiences, have risen and fallen atleast, two times, have learnt a great lesson on how to economically and effectively manage money, no matter how big the amount of the money is.
So, for me, assuming I was working in a company where the pay me even as high as $5k per month, if I win up to a hundred thousand dollars from gambling, I will surely quit my job, but not retire completely from working, but rather, I will quit my job to start my own business, that gives me more time to effectively do meaningful things with my life.

But all the same, it is mistakes that make peopl learn, it is best to learn from other people's mistake, but those who fail to learn from other peoples mistakes will be forced to learn from their own mistake, but the risk that comes with learning from our own mistake is that, sometimes and for some people, they don't get a second chance after messing up their first opportunity.
And this is one reason why we must always strive to gain knowledge, and use every winnings from gambling jeodiciously for the betterment of our life.

[danherbias07]

I do not think they will listen because they do not need to be corrected what they need is to realize how wrong they are with the thought of gambling to earn as their primary source of income..
As long that kind of mindset is still imprinted to their minds they will never get to listen what everybody is trying to say, this is base on my own personal experience with dealing to a person which was my former co-worker in the same department who quit and resigned his job because he hit big in gambling and he tried to continue his living by doing more of the gambling work. We have not seen for a long time now but I heard he is now working again to a different company in which he again started at the bottom position.

Different person will have different threshold, if you're get paid for $1K per month, but you win $100K from gambling, most people will resign because they think their jobs aren't worth it anymore. However, when someone don't have experience to manage big amount of money, they usually spend their money for unnecessary thing and believe it's a good investment.

That's why someone who won a lottery mostly back become poor because they can't manage their money.

That's true and it can happen to anyone who weren't able to manage their financials.
Just imagining how long before you can deplete all that money from a lottery win will make you think about either quitting your job and getting a business or just keeping it a low profile which rarely happens. Especially to those who experience it for the first time in their life. I bet they will even forget about the important things first and do a buying spree of all the things they wanted ever since they were a child.
IMO, it will be easy to say that we can control ourselves from spending it but once it's there we might just be the same as them. I do that all the time after winning in slots, I use the profits I made to take my kids out instead of saving it. Well, it's okay since I feel energized again after it, all my stress is gone and I feel refreshed.

[ethereumhunter]

This is the main reason why people keep on gamble despite losing a lot of money in gambling. They have a hope that one day they will win a jackpot and it will not only recover all their losses but will make them millionaires. I am not sure how realistic is this approach and thinking. Do gamblers really become millionaires or do they just become bankrupt in waiting to become a millionaires???

The hard fact is that only a few people are lucky enough to win big in gambling while most of the people keep on losing more and never gain any significant amount from gambling.
Even people hear and read a lot of unsuccessful and addiction stories about gambling but they tend to ignore them and only the successful jackpot winning gambling experiences attract them.

The gambling community mostly expects the luck in the game,it doesn’t mean the players get luck all the time in gambling site.If the luck favours the player,he should not fail to make the money from the gambling site.Because we don’t know when the luck again he will get in the gambling site.The skilled gamblers will not worry about the luck in the gambling site.Because he will make the regular money from the gambling site by his skills towards the game.So he doesn’t require to worry about the gambling luck to make the money from gambling sites.

The gambling site will have the algorithm to give money and to beat the gamblers strategy.If the gamblers strategy beat the gambling site algorithm then the gamblers will make money from it.If the gambling site beat the gamblers strategies the loss will be the outcome for the gamblers.

That's a normal if many gamblers wants to have the luck and wins the games because those who playing gambling will thinks like that and still hopes that they can wins someday. But not many of them can realizes that they will still difficult to wins, especially wins the jackpot because that will needs luck. Gamblers can't hopes the luck favours them when they playing gambling because luck will comes to the right person. What they can do is just keeps playing gambling moderately and wait their turns to becomes the winner.

Gambling mistakes will always repeat by gamblers who doesn't realizes that playing gambling is just for have fun. But a wise gambler will not do that and always protect themselves not to lose much money. They will lose some money that they can afford because they don't wants to lose much money and only playing gambling to fills their spare time. They will not always playing gambling in their spare time and only playing gambling occasionally to avoids the big lose.

[mirakal]

I do not think they will listen because they do not need to be corrected what they need is to realize how wrong they are with the thought of gambling to earn as their primary source of income..
As long that kind of mindset is still imprinted to their minds they will never get to listen what everybody is trying to say, this is base on my own personal experience with dealing to a person which was my former co-worker in the same department who quit and resigned his job because he hit big in gambling and he tried to continue his living by doing more of the gambling work. We have not seen for a long time now but I heard he is now working again to a different company in which he again started at the bottom position.

Different person will have different threshold, if you're get paid for $1K per month, but you win $100K from gambling, most people will resign because they think their jobs aren't worth it anymore. However, when someone don't have experience to manage big amount of money, they usually spend their money for unnecessary thing and believe it's a good investment.

That's why someone who won a lottery mostly back become poor because they can't manage their money.

This is why if you’re into gambling, you should learn to balance it as well with making some investments. Once you make big winnings, proceed with planning on a potential investment that can be highly profitable and sustainable, that way even if you lose at times with gambling, at least you are also generating some decent profits from your investment. And with that, you can also make an assurance to yourself that your winnings will not be wasted, and won’t live again facing a lot of financial issues.

[Bitcoinsummoner]

Share your opinion about this two mistakes with your experience.

Of course, overconfidence and greed are the main reasons why gamblers become destitute. It is good to have confidence but overconfidence never brings benefits. Of course, this is the nature of a gambler.

When a gambler wins on several boards in a row, then he thinks of himself, as the creator of his destiny. This overconfidence leads him to the brink of defeat.

Greedy people always get caught. Greed is the worst way. Win again and again when greed leaves a nest in a person. Then he loses his sense of good and bad. As a result, he loses everything and becomes destitute.

[Blitzboy]

I do not think they will listen because they do not need to be corrected what they need is to realize how wrong they are with the thought of gambling to earn as their primary source of income..
As long that kind of mindset is still imprinted to their minds they will never get to listen what everybody is trying to say, this is base on my own personal experience with dealing to a person which was my former co-worker in the same department who quit and resigned his job because he hit big in gambling and he tried to continue his living by doing more of the gambling work. We have not seen for a long time now but I heard he is now working again to a different company in which he again started at the bottom position.

Different person will have different threshold, if you're get paid for $1K per month, but you win $100K from gambling, most people will resign because they think their jobs aren't worth it anymore. However, when someone don't have experience to manage big amount of money, they usually spend their money for unnecessary thing and believe it's a good investment.

That's why someone who won a lottery mostly back become poor because they can't manage their money.

Well, you are right, but then, people who fall under this category are mostly people who are possibly just hitting the big amount of money for the very first, or people that have been sworn for; that for the rest of their life, they will remain useless.

Some body like myself whom over the years have gained wealth of experiences, have risen and fallen atleast, two times, have learnt a great lesson on how to economically and effectively manage money, no matter how big the amount of the money is.
So, for me, assuming I was working in a company where the pay me even as high as $5k per month, if I win up to a hundred thousand dollars from gambling, I will surely quit my job, but not retire completely from working, but rather, I will quit my job to start my own business, that gives me more time to effectively do meaningful things with my life.

But all the same, it is mistakes that make peopl learn, it is best to learn from other people's mistake, but those who fail to learn from other peoples mistakes will be forced to learn from their own mistake, but the risk that comes with learning from our own mistake is that, sometimes and for some people, they don't get a second chance after messing up their first opportunity.
And this is one reason why we must always strive to gain knowledge, and use every winnings from gambling jeodiciously for the betterment of our life.

There's a tendency for folks to get caught up in the moment when they get a big chunk of cash and blow it all. You're talking about investments and growth beyond that. Anyone who's watched the economy fluctuate knows how important that thinking is.

Its more than smarts. You need discipline to keep making enormous money. Additionally, your discussion on continuous learning and planning is spot-on. Using prizes to establish a business goes beyond money. Taking charge and creating something you identify with. Many dont realize this. Quick cure is all they seek. Real financial mastery requires long-term thinking, uncertainty, and smart risks that could change your life.

[GxSTxV]

One of the most well known mistakes any gambler could make without his knowledge is betting too much of their total balance and expecting to double it in winnings. For instance, if someone deposits $1000 and starts playing with $100, which is 10% of their total balance, they may hope to double their money each time they bet. However, in reality this mindset is dangerous because it significantly increases the risk of losing all the balance quickly, with a much lower chance of winning anything. The risk is especially high when betting more than 10% of the balance in a single bet, whether in sports betting or other games. Continuously gambling this way is only because of greed, playing with higher balance doesn’t guarantee you any winnings, in the other side playing with just 2% or less of your main balance each time offers you a better chance to win big occasionally since it’s essential to know that most of the time, the casino will have the advantage and beat you especially in long term.

[slapper]

This is the main reason why people keep on gamble despite losing a lot of money in gambling. They have a hope that one day they will win a jackpot and it will not only recover all their losses but will make them millionaires. I am not sure how realistic is this approach and thinking. Do gamblers really become millionaires or do they just become bankrupt in waiting to become a millionaires???

The hard fact is that only a few people are lucky enough to win big in gambling while most of the people keep on losing more and never gain any significant amount from gambling.
Even people hear and read a lot of unsuccessful and addiction stories about gambling but they tend to ignore them and only the successful jackpot winning gambling experiences attract them.

The gambling community mostly expects the luck in the game,it doesn’t mean the players get luck all the time in gambling site.If the luck favours the player,he should not fail to make the money from the gambling site.Because we don’t know when the luck again he will get in the gambling site.The skilled gamblers will not worry about the luck in the gambling site.Because he will make the regular money from the gambling site by his skills towards the game.So he doesn’t require to worry about the gambling luck to make the money from gambling sites.

The gambling site will have the algorithm to give money and to beat the gamblers strategy.If the gamblers strategy beat the gambling site algorithm then the gamblers will make money from it.If the gambling site beat the gamblers strategies the loss will be the outcome for the gamblers.

That's a normal if many gamblers wants to have the luck and wins the games because those who playing gambling will thinks like that and still hopes that they can wins someday. But not many of them can realizes that they will still difficult to wins, especially wins the jackpot because that will needs luck. Gamblers can't hopes the luck favours them when they playing gambling because luck will comes to the right person. What they can do is just keeps playing gambling moderately and wait their turns to becomes the winner.

Gambling mistakes will always repeat by gamblers who doesn't realizes that playing gambling is just for have fun. But a wise gambler will not do that and always protect themselves not to lose much money. They will lose some money that they can afford because they don't wants to lose much money and only playing gambling to fills their spare time. They will not always playing gambling in their spare time and only playing gambling occasionally to avoids the big lose.

We all feel the hunger for wealth. That's gambling's purpose, right? It's not a future-building strategy. It's fun and thrilling, but you need to be calm. The prudent gambler plays for fun, not a fairytale ending. Setting expectations. This mystical entity determining winners and losers is not luck. Random, like flicking a coin. Not controllable. A prudent gambler, like a clever investor, doesn't rely on one fortuitous break. They gamble and retreat strategically. Always expecting that life-changing win is crazy
Balance is vital. Have fun gambling, spend what you can afford to lose, and focus on building and controlling your big aspirations. That's true satisfaction, right?

[DaNNy001]

Mistakes gambling often make are numerous and that's one of the reason we tend to Fing more gambling chasing the wrong thing or having a wrong mindset which might lead to addiction or irresponsible gambling. Some gamblers make the mistake of assuming gambling to be a secure source of income which can make them millionaires overnight. Usually people with this thought are good victims to addiction after a while, and they always end up gambling irresponsibly. Another commot mistake or should I say characters of some gamblers is greed. Some gamblers prefer to loss all their profit and their stake even after a cash out has been offered. Though some games are worth the patient but come to think of it, gambling is basically centred on luck, and that last sure game could end up becoming the odd game amongst your predictions.

[rahmad2nd]

Interesting, we agree with what you said in this thread. but my question is, can we always be consistent and uphold high discipline in every gambling session we do? you can answer it yourself, for yourself without needing to reply to my question. Gambling or betting is an interesting entertainment, and invites curiosity for those who play it, let alone those who like it. It could be said that this hobby has become the easiest trend for us to play anytime and anywhere with just the smartphone we have.

Referring to your post in this thread, if we explain it with a narrative or words it is quite easy to understand. It's just that, in practice, it's not uncommon for what we say, such as the example in the post and the title of this thread, to be not as easy as when we play it. Confidence or overconfidence in gambling is part of human nature according to psychology, and for me this is something positive that helps us escape from high stress. however, it is important to realize or understand that we must have boundaries that have become rules that we have created, so that we are not too controlled in chaos, especially when the situation or expectations are not what we want.

Greed, something we have carried with us since we were born. Is this related to gambling? of course yeah, it is very related especially if we don't have good control and that makes us part of the gamblers who lead to greed. So, how can all this go according to the scenario or as you say? The answer is very complicated, because every session we do in gambling is not always the same. Luck plays an important role, and is involved when we gamble. OK, if we're winning. but what about the opposite, especially when we experience repeated failures.
For me, nothing we do is perfect especially if it involves gambling. It's not uncommon for us to lose control, whether we're in a winning or losing session. what we experience in gambling, always varies and depends on conditions and situations.  So what should we do, there are no other words other than try not to be greedy and involve self-control and awareness. perhaps with this, we have limits and stick to the principles and discipline that have been our guide in gambling sessions. even then, it's not easy.

[Fredomago]

I do not think they will listen because they do not need to be corrected what they need is to realize how wrong they are with the thought of gambling to earn as their primary source of income..
As long that kind of mindset is still imprinted to their minds they will never get to listen what everybody is trying to say, this is base on my own personal experience with dealing to a person which was my former co-worker in the same department who quit and resigned his job because he hit big in gambling and he tried to continue his living by doing more of the gambling work. We have not seen for a long time now but I heard he is now working again to a different company in which he again started at the bottom position.

Different person will have different threshold, if you're get paid for $1K per month, but you win $100K from gambling, most people will resign because they think their jobs aren't worth it anymore. However, when someone don't have experience to manage big amount of money, they usually spend their money for unnecessary thing and believe it's a good investment.

That's why someone who won a lottery mostly back become poor because they can't manage their money.

This is why if you’re into gambling, you should learn to balance it as well with making some investments. Once you make big winnings, proceed with planning on a potential investment that can be highly profitable and sustainable, that way even if you lose at times with gambling, at least you are also generating some decent profits from your investment. And with that, you can also make an assurance to yourself that your winnings will not be wasted, and won’t live again facing a lot of financial issues.

This kind of mindsets will allow you to make something decent in terms of finacial side, if you know how to make a good use of your winnings then it will give you that opporrtunities to create good source of income, something that you can generate more money and while you are still involve into gambling it can also helps to sustain your needs.

Though there are times that we really have that incorrect approach into gambling, something that lead us to overexceed our finances and lose a lot.

And adding to that, we are just doing the same mistake being move by greed and aim to win more instead of enjoying what we already achieved.

[AbuBhakar]

Some gamblers prefer to loss all their profit and their stake even after a cash out has been offered. Though some games are worth the patient but come to think of it, gambling is basically centred on luck, and that last sure game could end up becoming the odd game amongst your predictions.

I don’t consider this as mistake since you are placing bets because you are interested on the outcome of the to be in favor to your prediction. Availing cash out is just an option for gambler if they don’t like their pick anymore.

I will definitely just let my bet lose rather than availing cashout if I place my bet in confidence because that’s my way on enjoying my bet. Resorting to cashout whenvee you feel nervous or scared is a sign that you are gambling money that you can’t afford to lose.

[South Park]

One of the most well known mistakes any gambler could make without his knowledge is betting too much of their total balance and expecting to double it in winnings. For instance, if someone deposits $1000 and starts playing with $100, which is 10% of their total balance, they may hope to double their money each time they bet. However, in reality this mindset is dangerous because it significantly increases the risk of losing all the balance quickly, with a much lower chance of winning anything. The risk is especially high when betting more than 10% of the balance in a single bet, whether in sports betting or other games. Continuously gambling this way is only because of greed, playing with higher balance doesn’t guarantee you any winnings, in the other side playing with just 2% or less of your main balance each time offers you a better chance to win big occasionally since it’s essential to know that most of the time, the casino will have the advantage and beat you especially in long term.

Even if understand that sometimes the fees can be high and we want to save a few dollars whenever we can, I have always thought that depositing a large amount of money in a casino and then trying to use only a small amount to gamble is a mistake, and I think this way because if you were to suffer a bad loss, the temptation to try to recover your capital will be huge, and so you may end up using the money you had there and lose it all in a single session, so I prefer to only send to the casino the money I want to use at the time, even if this means I have to pay more money on fees.

[ethereumhunter]

We all feel the hunger for wealth. That's gambling's purpose, right? It's not a future-building strategy. It's fun and thrilling, but you need to be calm. The prudent gambler plays for fun, not a fairytale ending. Setting expectations. This mystical entity determining winners and losers is not luck. Random, like flicking a coin. Not controllable. A prudent gambler, like a clever investor, doesn't rely on one fortuitous break. They gamble and retreat strategically. Always expecting that life-changing win is crazy
Balance is vital. Have fun gambling, spend what you can afford to lose, and focus on building and controlling your big aspirations. That's true satisfaction, right?

Yes, that's the purpose of why people playing gambling. They hunger to chase the wins that can gives them the money. But they don't realizes that can makes them losing their money without they realizes of what happens to them. Because of the pleasure of the gambling games makes us forget to set the limits that is necessary to do to prevents the big lose. We can't becomes a wise gambler if we don't sets the limits because we will not count how much money we used and lose in the gambling games. We will only makes another mistakes while playing gambling which can leads us to gets the lose. We must becomes a wise gambler if we playing gambling to prevents the lose as gambling can tempts us to continue playing gambling without thinks about stops our gambling activity. We can playing gambling and have fun but we must take care of ourselves and not lose much money.

[bubilas]

It seems to me that overconfidence can be dangerous, especially for beginners. When you're just starting to play, it's easy to overestimate your abilities and take more risks than you need to. This can lead to serious losses and disappointment.

It is also important to remember about greed – it can also cause failures. When we strive for quick profits and do not know how to stop, we risk losing everything. That's why I think it's important to keep common sense and control your actions in the gambling world.
It is better to gradually learn the rules and strategies, take your time and do not trust only luck.
This is the only way to learn how to play responsibly and enjoy the process without putting yourself at unnecessary risk.

After all, the main thing in gambling is not only winning, but also the ability to control your emotions and make informed decisions.

[Accardo]

It seems to me that overconfidence can be dangerous, especially for beginners. When you're just starting to play, it's easy to overestimate your abilities and take more risks than you need to. This can lead to serious losses and disappointment.

It is also important to remember about greed – it can also cause failures. When we strive for quick profits and do not know how to stop, we risk losing everything. That's why I think it's important to keep common sense and control your actions in the gambling world.
It is better to gradually learn the rules and strategies, take your time and do not trust only luck.
This is the only way to learn how to play responsibly and enjoy the process without putting yourself at unnecessary risk.

After all, the main thing in gambling is not only winning, but also the ability to control your emotions and make informed decisions.

What happens to those strategical players with some common sense and a truck load of greed? Gambling some times may not be defined by those instances. It works accordingly with the emotional intelligence of all players. A day could be so interesting that the player would think he's hit the lucky day, yet he's not sure of his end how the losing streak will follow suit. Money works with the brain,  in a way that no player will comfortably stop going for the money immediately he's won big. Those smiles from winning big still rolls the downward course of losing it all.

Overconfidence, affect players according to their performance in the previous session, hours, or minutes, including experts. That's why when people think of themselves as experienced gamblers, and perfect, they could be making a bigger mistake. I understand that experience helps limit these things. But it's certain that a gambler out of greed could boycott his own rules, regardless of his experience. They're some general mistakes that could occur in a gambling activity. Being able to retain a stable mood, not letting yourself get sidetracked by the funds, could be a better method to limit such mistakes from happening consistently.

[Betwrong]

~

~
Better to be in positive even if it's just a small amount of earnings, as the chance of losing always higher compared to your chance of winning, the fact that gambling always accompanied by risk and without good control of your emotions will continue to lead your way to lose all the money inside your wallet.

I actually think that another big mistake repeated by some gamblers all the time is thinking that their winnings are small with the bet they make and that they should increase their bet size. It's true that with 10x multiplier you'll win $200 if you bet $20 and you will win only $2 if you bet $0.20, but the thing is that you can quickly lose all your balance betting $20 at once and never hit that 10x, that's what must be kept in mind always.