Did gambling losses are traps to new game

[wxa7115]

I remember years ago when I was in school, it might of been high school, basically a year or two right before we would become legal drinking and gambling age, there was a seminar about the dangers of gambling, drinking, drugs, etc.

Anyway what I remember very clearly when they talked about gambling was that. If someone goes to a casino and loses a bunch of money, they will go away and most likely won't come back. The scenario where people become addicted are those that go to a casino for the first time and they win, they basically realise its easy money and they will become addicted to it.

I guess you call this beginners luck, they realise its easy making money in a casino and they will keep doing it. Eventually they lose their wins, plus any other money new money they put towards winning it back. So its the opposite of what the OP described.

For what I have observed this is the way it works, the people that I have seen getting terrible results on their first gambling experience will hardly gamble ever again, as memories of that session will come back every time they think about gambling again.

But those that obtain positive results, learn that gambling could be a way for them to earn money and do so while obtaining some fun, and such thoughts are often the basis of a behavior which could later get out of control.

[lienfaye]

Otherwise, losing more money is one of your considerations as you do it but I guess no one wants to lose forever and the cycle repeats back if you can't notice it.

All gamblers know about the 2 things you mentioned above, but unfortunately they don't prepare anticipatory steps to avoid gambling addiction, they are emotionally affected in gambling sessions because they don't get the expected wins. This defeat will have an impact on one of the factors above, they bet to recover their losses or they continue to gamble just for fun without setting a financial limit for gambling.

Losses can trigger a gambler to play again to recover what he lost with a high hopes to win. This mindset of a gambler who's unable to accept the result is not actually unusual since many gamblers are doing this believing it is the way to get their money back. One of the problem of gamblers who engage themselves in gambling not knowing the risk. Because if you know how gambling works and afraid to lose your money, then you'll not use a fund that you can't live without. Learn to control yourself by setting a limit if you don't want to face a serious problem due to your behavior towards gambling.

[Poker Player]

When I had meet my friends last Sunday,We had discussed about this topic.We are friends based on our gambling interest and all of us are the gamblers.I had already mentioned about my friend who loss 2k in this below thread also take part in our meeting.

https://bitcointalk.org/index.php?topic=5493038.0

He keep on playing the gambling with some loans from our friends circle to manage the 2000 dollars previous loss....

Did you guys trust on gambling algorithms or do the random betting in the gambling site to check the current luck in the gambling sites…

If he is a true friend tell him to stop gambling. Right now. And to never gamble again. If it's hard for him to ask for help. Your friend has a risk of ending up in a very bad way. Gambling and loans usually end up with the person having to pay for years what he lost in a binge. Or even worse if he resorts to some private moneylenders.

[samuraijin]

I remember years ago when I was in school, it might of been high school, basically a year or two right before we would become legal drinking and gambling age, there was a seminar about the dangers of gambling, drinking, drugs, etc.

Anyway what I remember very clearly when they talked about gambling was that. If someone goes to a casino and loses a bunch of money, they will go away and most likely won't come back. The scenario where people become addicted are those that go to a casino for the first time and they win, they basically realise its easy money and they will become addicted to it.

I guess you call this beginners luck, they realise its easy making money in a casino and they will keep doing it. Eventually they lose their wins, plus any other money new money they put towards winning it back. So its the opposite of what the OP described.

For what I have observed this is the way it works, the people that I have seen getting terrible results on their first gambling experience will hardly gamble ever again, as memories of that session will come back every time they think about gambling again.

But those that obtain positive results, learn that gambling could be a way for them to earn money and do so while obtaining some fun, and such thoughts are often the basis of a behavior which could later get out of control.

This is what I know, in the case of users or people who are just getting involved in gambling for the first time, won't they be given a winning percentage in terms of gambling, even though it counts and provides a sense of comfort in gambling, if the user has enjoyed gambling, that's where the losses start because of the site.  It has created a high curiosity effect without us realizing it when gambling, that's why the target currently targeted by gambling is new users, the rest are just people who fill the void, after all, if gambling results in continuous losses, it is impossible, of course the winning percentage will be high.  given that the gambling site definitely exists, the gambling site will realize that if they only provide a small winning percentage, people will definitely leave the site, correct me if I am wrong in my interpretation..

[ethereumhunter]

in the case of users or people who are just getting involved in gambling for the first time, won't they be given a winning percentage in terms of gambling, even though it counts and provides a sense of comfort in gambling, if the user has enjoyed gambling, that's where the losses start because of the site.  It has created a high curiosity effect without us realizing it when gambling, that's why the target currently targeted by gambling is new users, the rest are just people who fill the void, after all, if gambling results in continuous losses, it is impossible, of course the winning percentage will be high.  given that the gambling site definitely exists, the gambling site will realize that if they only provide a small winning percentage, people will definitely leave the site, correct me if I am wrong in my interpretation..

Beginners in gambling will gets winning without they can predict and that can makes them gets deeper slowly or fast without they realizes. That's what happens to beginners that doesn't learn about self controls and they will only lose their money and will traps to other gambling games. Beginners will have a high curiosity about gambling games, especially if they lose much money in their beginning so they will still search the other gambling games that can gives them winning. But they must realizes that playing gambling is just for fun and not for makes money so they must have controls over themselves to avoids the traps in the gambling games. They must responsibility to themselves and always limits their budget and time to playing gambling so they will not gets many problems in gambling.

[TheUltraElite]

The fact that your friend took money from their friends shows that they are addicted gamblers unable to control the temptation and hence the rest of your group should be careful. Most gambling circles end up like this, one person taking loans from everyone else and none of them nite the bullet to inform others of these loans at all.

Also I don't agree with the statement of trying luck on casinos. Casinos don't have any fixed "luck" metric. It is random and gambling on one is equivalent to gambling on another because you either lose or win.

[Dewi Aries]

True, everything happens because there is money involved, the fact is that everyone needs money but everyone doesn't like losing, while gambling is always about these two things that can never be separated, you or anyone can win a large amount but we also have to remember the other fact that we can also lose any amount. So I think if you are emotional because you lost then in my opinion it is an action that you should not do, or the point is that you should not be emotional because you lost because it is clear that risk will always be a part of gambling.

Letting go of losing is an action that is really difficult for the majority of gamblers to do, but there are some gamblers who are still fine and do not experience emotions even though they lose, and they are someone who realizes that losing is normal in gambling, because they know that even if they act to chase losses then surely it is quite impossible to achieve.

It is very hard to accept defeat and you'll even hear that from people that thinks you're addicted. They cannot be blamed because if the signs are appearing and you're also seeing that, the problem within you must be solved within you as well.

If losing is an emotional matter to you and you're changing attitude towards that, then you have to change a bit with your approach through it. While it's true that there are gamblers that do not experience bad emotions through it.

The possibility is that they're able to overcome what this kind of gambler is facing right now.

I would say one of the reasons why it is difficult for a gambler to accept defeat is because they come with the intention and goal of earning, and as we know that if someone puts the intention and goal to earn something then when it is not achieved then there will be resentment. It's gambling where when you can't achieve the win you want then that means you lose money and that's why they get upset or emotional. So I think it's clear that this is the reason why we always discourage gambling as a way of earning, it doesn't mean you can't win but there is absolutely no certainty and there is absolutely no consistency in terms of winning and when you don't win it means you lose money.

As you say we have to change our approach to gambling, and in order to do that we have to first justify our understanding of gambling, the bottom line is very simple in my opinion which is for you to accept and realize that gambling is an activity that can make you lose money regardless of the chances of winning.

[zuzie]

As you say we have to change our approach to gambling, and in order to do that we have to first justify our understanding of gambling, the bottom line is very simple in my opinion which is for you to accept and realize that gambling is an activity that can make you lose money regardless of the chances of winning.

Agree with your opinion, starting a new approach regarding awareness and proper understanding in analyzing gambling activities that there is a very bad risk if done incorrectly and we can also conclude that it is not easy for us to win quickly because we need a long struggle first like the frequent defeats that we will get when playing gambling. Therefore, having good thoughts and awareness really helps us in preventing and minimizing the loss of a lot of money so that we do not feel too great a loss and regret too high.

[Zadicar]

Otherwise, losing more money is one of your considerations as you do it but I guess no one wants to lose forever and the cycle repeats back if you can't notice it.

All gamblers know about the 2 things you mentioned above, but unfortunately they don't prepare anticipatory steps to avoid gambling addiction, they are emotionally affected in gambling sessions because they don't get the expected wins. This defeat will have an impact on one of the factors above, they bet to recover their losses or they continue to gamble just for fun without setting a financial limit for gambling.

Losses can trigger a gambler to play again to recover what he lost with a high hopes to win. This mindset of a gambler who's unable to accept the result is not actually unusual since many gamblers are doing this believing it is the way to get their money back. One of the problem of gamblers who engage themselves in gambling not knowing the risk. Because if you know how gambling works and afraid to lose your money, then you'll not use a fund that you can't live without. Learn to control yourself by setting a limit if you don't want to face a serious problem due to your behavior towards gambling.

Of course we are just humans on which you would really be having that kind of trigger that you could really be able to make deposit because the main thing that you do have in mind is to chase up those loses or would really be that tending to chase those winnings and this is something that give out that kind of desperation. This is why it would really be best that control and moderation would really be they key. It isnt really that a trap if you are really just that having that discipline because you would really be considering it to be one on the moment that you would be finding yourself
that spending up too much because you have lost your control on playing gambling on which this is something that could bring out that huge disaster into your finances.

[Porfirii]

As you say we have to change our approach to gambling, and in order to do that we have to first justify our understanding of gambling, the bottom line is very simple in my opinion which is for you to accept and realize that gambling is an activity that can make you lose money regardless of the chances of winning.

Agree with your opinion, starting a new approach regarding awareness and proper understanding in analyzing gambling activities that there is a very bad risk if done incorrectly and we can also conclude that it is not easy for us to win quickly because we need a long struggle first like the frequent defeats that we will get when playing gambling. Therefore, having good thoughts and awareness really helps us in preventing and minimizing the loss of a lot of money so that we do not feel too great a loss and regret too high.

I agree with the message in general, but not really with the part of "regardless of the chances of winning", unless you consider that casinos are dishonest and they won't show you the real odds, which cannot happen in provably fair services.

The key to me would be understanding how odds works and realising that, with no exception, they are always slightly against the gambler. If we acknowledge that, most probably we will stop looking for strategies, rituals and who knows what other deliriums about earning a steady income out of mere gambling.

[zuzie]

As you say we have to change our approach to gambling, and in order to do that we have to first justify our understanding of gambling, the bottom line is very simple in my opinion which is for you to accept and realize that gambling is an activity that can make you lose money regardless of the chances of winning.

Agree with your opinion, starting a new approach regarding awareness and proper understanding in analyzing gambling activities that there is a very bad risk if done incorrectly and we can also conclude that it is not easy for us to win quickly because we need a long struggle first like the frequent defeats that we will get when playing gambling. Therefore, having good thoughts and awareness really helps us in preventing and minimizing the loss of a lot of money so that we do not feel too great a loss and regret too high.

I agree with the message in general, but not really with the part of "regardless of the chances of winning", unless you consider that casinos are dishonest and they won't show you the real odds, which cannot happen in provably fair services.

The key to me would be understanding how odds works and realising that, with no exception, they are always slightly against the gambler. If we acknowledge that, most probably we will stop looking for strategies, rituals and who knows what other deliriums about earning a steady income out of mere gambling.

Indeed, the opportunity sounds very good and good because it is possible that what you have said is true that the chance of winning will only be detrimental to a little in gambling because if we realize that then I think we will be able to learn more and explore new opportunities or strategies in running the existing gambling game or vice versa as you have said it is better for us to stop for a moment to focus on thinking with good common sense that gambling is indeed not a place to find money quickly and precisely but there are many risks and obstacles that will often occur in it.

[redsun114]

All of us are emotionally when it's comes to games that has a staked money. That's why for that reason, we're able to put emotions to each bet that we make.

And sometimes, it's hard to move on with every lose that we get. So, the emotional being of a gambler plays a role why he/she can't move on and instead of having a good day to start, when it's been thought about the most recent losses, you couldn't careless with that.

That triggers us to recover whenever we're convenient but are we mostly successful with that? not everyone does.

Well, if you gamble with the intention of earning money and making profits, you will have a hard time moving on after every loss. This is the reason why a person should never gamble with such intentions because you don't get anything out of it except for sadness and a lot of stress. We should consider gambling a source of entertainment and get ourselves entertained by spending a limited amount of money on it that we can easily afford to lose.

When you are easily afford to lose an amount, you won't be sad or worried when you lose a bet or even if you lose the whole amount because you know it was allocated for this thing, so if you have lost it, you have at least had a good time while you were gambling and that is what's important.

[l3pox]

As you say we have to change our approach to gambling, and in order to do that we have to first justify our understanding of gambling, the bottom line is very simple in my opinion which is for you to accept and realize that gambling is an activity that can make you lose money regardless of the chances of winning.

Agree with your opinion, starting a new approach regarding awareness and proper understanding in analyzing gambling activities that there is a very bad risk if done incorrectly and we can also conclude that it is not easy for us to win quickly because we need a long struggle first like the frequent defeats that we will get when playing gambling. Therefore, having good thoughts and awareness really helps us in preventing and minimizing the loss of a lot of money so that we do not feel too great a loss and regret too high.

The bad habit most gamblers have is not tracking their bets
Tracking helps so much in so many areas of life because you can look at what you are doing, study, improve and iterate on that
Tracking compounds. It’s really important

[blckhawk]

Technically they are, I mean if you look at psychology of gambling, most people don't really want to be a loser and so they try and do their best to make it right and the best in this case is that they need to play again until they get a win so big that it offsets all of the losses because small wins doesn't really count for them, it also is a trick in the brain, you're winning so you might be lucky and then you try again and then you lose and then the cycle repeats.

[livingfree]

It is very hard to accept defeat and you'll even hear that from people that thinks you're addicted. They cannot be blamed because if the signs are appearing and you're also seeing that, the problem within you must be solved within you as well.

If losing is an emotional matter to you and you're changing attitude towards that, then you have to change a bit with your approach through it. While it's true that there are gamblers that do not experience bad emotions through it.

The possibility is that they're able to overcome what this kind of gambler is facing right now.

I would say one of the reasons why it is difficult for a gambler to accept defeat is because they come with the intention and goal of earning, and as we know that if someone puts the intention and goal to earn something then when it is not achieved then there will be resentment. It's gambling where when you can't achieve the win you want then that means you lose money and that's why they get upset or emotional. So I think it's clear that this is the reason why we always discourage gambling as a way of earning, it doesn't mean you can't win but there is absolutely no certainty and there is absolutely no consistency in terms of winning and when you don't win it means you lose money.

As you say we have to change our approach to gambling, and in order to do that we have to first justify our understanding of gambling, the bottom line is very simple in my opinion which is for you to accept and realize that gambling is an activity that can make you lose money regardless of the chances of winning.

Yes, that's the main reason why most of us gamble. We're in it for the profit and there's no other reason behind that. And those that are doing it wrongly, think that the money they gamble there is an investment, no it's not.

A bet is a bet and that trap of mindset is giving them their food for thought that they should recover it once it's lost.

Acceptance of losses and to come up with another plan on how you should recover it through other means is a better way. There are nice stories that we hear from other gamblers on how they're able to recover and win but that's their stories and not from us.

[LUCKMCFLY]

One of the reasons why chasing losses cannot always be justified is because gambling does not depend on anything, and also the results in each session carried out by gamblers will always be different, or in the sense that if, for example, now you lose, it does not mean that in the next session you will lose. will be able to win with the intention of pursuing these losses, or simply in different gambling times the results will be different at the end of the session, and I think that is a natural thing when we talk about gambling.

Because after all this is what is called an activity that does not have any certainty or guarantee to produce victory at the end of the session, meaning that victory is nothing more than a "possibility" and defeat is part of the certainty that will continue to lurk, on the other hand I am not saying that every time if you chase losses then you will always lose, because basically if you are lucky then you will also win, but if this idea is carried out in the long term then that will be a disaster that makes them experience a greater number of losses.

You're right, I personally have always said something, if the game Obeyed simple mathematics I think there would be very Good people at this and they could make some Money , but in games there will Always be that random factor that changes Everything , you can have the best Prediction of all, but there is a minimum of Data that can make Everything go well in the End, so in this Order of ideas things can be generated Better if we see it from the closer point of view that the game is just luck , that there are strategies to win? Yes, but they are not safe , they are just paths and it is us who Decide whether to Follow them or not.

[danherbias07]

Technically they are, I mean if you look at psychology of gambling, most people don't really want to be a loser and so they try and do their best to make it right and the best in this case is that they need to play again until they get a win so big that it offsets all of the losses because small wins doesn't really count for them, it also is a trick in the brain, you're winning so you might be lucky and then you try again and then you lose and then the cycle repeats.

That's correct. The hate of defeat.
Ego, pride, or whatever it is called, it is because we want to go home as a winner and not as a loser. Even if it's just for a small amount, it's still a win.
Mentally, we tell ourselves that we will stop once we hit the amount that we lost but the truth is we cannot follow our own decision and we just keep on pressing that bet button until everything is gone. And that's the only time we are able to stop because we cannot bet anymore.
That's why I have been telling on other threads how it's easy to say to not chase the losses but it's so difficult to do. It's not like we want to end up going home thinking about our losses while we can still fight with the spare amount that we have. It requires hard discipline.

[Agbamoni]

Yes, it is one good way to trap most gamblers. Not every gambler can be able to control themselves whenever they loss in a game. They believe they can still recover their money back and get a little profit. Of course, some are lucky to get their money back but i still believe only few are that lucky, most of the still end up losing everything along the line.

That's correct. The hate of defeat.
Ego, pride, or whatever it is called, it is because we want to go home as a winner and not as a loser. Even if it's just for a small amount, it's still a win.
Mentally, we tell ourselves that we will stop once we hit the amount that we lost but the truth is we cannot follow our own decision and we just keep on pressing that bet button until everything is gone. And that's the only time we are able to stop because we cannot bet anymore.
That's why I have been telling on other threads how it's easy to say to not chase the losses but it's so difficult to do. It's not like we want to end up going home thinking about our losses while we can still fight with the spare amount that we have. It requires hard discipline.

This is unbelievable. I never knew that there are people with so much pride that they would want to continue betting because of they are bigger than losing. In gambling no one is above losing, everyone must experience a winning and losing streaks in gambling. I think this is part that they would say 'pride comes before a fall' This is because such gambling acts the gambler is certain to lose along the line. Pride doesn't help in gambling; one must be responsible and adhere to the ethics of gambling to be successful in it.

[LUCKMCFLY]

I think privacy is denied for third party programs attached to the technology. Bitcoin is quite decentralized and should be seen as a technology that allows privacy. The government capitalize on centralized exchanges to regulate how citizens spend their funds and open traces back to them. The problem is also about the hacks and scams relating to those cex which occured frequently. Allowing such things to go untracked leaves people losing out money oftentimes. Gaining full privacy through the technology requires participating fully in the Bitcoin technology as a developer. In terms of gambling platforms, I don't think they'll be a better means of gambling privately without KYC.

There is a big mistake there, because governments should not worry about how citizens spend their money, because it is their money, governments should not worry about that, because when we start to see how the other payments can be made , we only have to look at those who make or have part of their money in Bitcoin or any other crypto , when it is like that, then things simply go to another level because they are put on a list where they always have to pay more money in taxes and Possibly risk having to pay more and more, this is something that will be noticed not now but in the future.

[klidex]

Technically they are, I mean if you look at psychology of gambling, most people don't really want to be a loser and so they try and do their best to make it right and the best in this case is that they need to play again until they get a win so big that it offsets all of the losses because small wins doesn't really count for them, it also is a trick in the brain, you're winning so you might be lucky and then you try again and then you lose and then the cycle repeats.

Therefore we must be able to control our thoughts so that we don't get trapped in thoughts like that, I mean so that we don't get trapped in a repetitive cycle like you said because that will make us experience even bigger losses if we gamble continuously to cover up our losses what we experience makes us increasingly out of control and in the end we will become increasingly losers because it is possible that we could become addicted to gambling because in gambling we will easily be provoked if we experience defeat and cannot control ourselves, therefore we have to be careful and don't get trapped easily in the gambling cycle.

In gambling we have to be good at controlling ourselves so that we don't easily get caught up in gambling which makes us lose even more, if we experience defeat we have to be able to accept it without having to chase defeat. Indeed, if we lose we will feel like a loser, but if we chase defeat too much, we will actually lose. If we experience even greater losses, we should not act too much like losers from the start because losing in gambling has become a natural thing because it is a risk that we have to bear.