Sometimes people also forgets Greed is one of the most exploited feelings by casinos. It is something I have seen also happening in real life and in small casinos in small towns. Whenever the gambler starts to gamble and they consider to withdraw and not to continue, the operator actually encourages them to keep on gambling because it is "their day of good luck" and they better "take advantage of it". It is actually about waking up the greed of the gamblers so they can continue until losing it all to the house again. Any operator with a minimum knowledge on how mathematics and the laws of chances work in their business is aware that the more the gamblers wager their money, they (as operators) are more likely to profit from the volume of wager.
I have the personal theory than if people did not experiment as much greed as they usually do when they start to win money from casinos and bookies, it would be easier for the average gambler to profit. Anyways, we all know that is not going to happen...
Greed does not only happen in casinos it also happens in trading, investment, or any business this emotion will make you lose your capital instead of making a profit. I learned something about gambling if you already made I think just 30% of your total capital you should stop and gamble next time and then when you lose 10% of the capital you should also stop meaning you are not lucky today you need to gamble again on the next day until you feel no loses and have winning streak don't go all in just be consistent if get one lose then stop gamble again on the next day. You just need to make sure the algorithm always changes so that it won't lose all of your money and has a higher chance of winnings and profit than losing or negative profit.
Stopping the game after reaching a profit of 30% of the total capital is a fairly good and wise approach. because doing this can help you to lock in the profits you have earned, and help prevent you from careless behavior, playing continuously in the hope of winning more, which often ends in losing everything you have earned. Likewise, stopping after experiencing a 10% loss of capital is a good way to minimize further losses and admit that perhaps this is not your lucky day.
However, it is very unfortunate, most people prefer to continue playing in the hope of recovering losses or multiplying gambling profits, which usually only leads to greater losses. By setting clear boundaries and sticking to them, you can reduce the emotional impact of gambling and make more rational decisions.
And it is quite important to understand, that gambling algorithms are always changing, and the results are always random. Because understanding this can help you not get trapped in a narrow mindset, the mindset that there is a sure way to win consistently.
