GAMBLE RESPONSIBLY

[Forsyth Jones]

Continuing to bet to chase losses is the worst thing to do.

It seems that this player was high on dopimine and didn't think straight.

Losing your life savings is crazy, it's a lot of money, he ended up losing it in a very trivial way, if at least he had invested that amount in a business, he would have had a better chance of making a profit.

[boyptc]

This is why you should never chase your losses.

It might sound like you're a real loser but you will have to swallow that for yourself as well. You'll get into deeper loss and tougher situation if you won't stop from the time you're already in a losing streak.

Betting with $1,000 is big and multiplying that to 12x and then losing it first should give you the reason to stop already. Tsk.

[Hispo]

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Losing your life savings is crazy, it's a lot of money, he ended up losing it in a very trivial way, if at least he had invested that amount in a business, he would have had a better chance of making a profit.

Actually, what you are saying makes a lot of sense. Usually one single person (specially someone from a developed country like Australia) does not have all their savings at hand in the form of cash or inna bank account. In those countries people have their retirement funds in the form of some investment, and if those investments are less liquid, then this guy would have not easy and immediate access to all his money and gamble all of it away in the way he did.
Just think about it, if he had that cash located in precious metals or in real state, then he would need time and some effort for him to convert those investments back into cash, and perhaps he would have had more time to get his ideas straight and not to gamble all of it...

[uneng]

Just think about it, if he had that cash located in precious metals or in real state, then he would need time and some effort for him to convert those investments back into cash, and perhaps he would have had more time to get his ideas straight and not to gamble all of it...

Yes, the problem is that he had 400,000$ coming in handy. A lot of idle money without any purposes and goals in mind will inevitably result in a big mess. I believe he didn't accept well the fact of having lost the initial 12,000$ bet, so he went for a desperate recovery, which has never happened. At the middle of the way, he must have been probably even more desperated, because his strategy in gambling wasn't bringing any positive outcomes... Then he must have appealed to "all or nothing", and unfortunatelly ended with nothing.

If he had more time to think carefully about what he was intending to do, I'm sure he wouldn't have acted deliberately with his whole life's savings. But now since the mistake is already done, I think he has to move ahead and start working on what can be still done from now on. Probably he is an old man, so all the support he can get from family and friends is very important.

[MainIbem]

 Wow, that person just lost a fortune. I don't think his wife and kids would ever forgive him if his actions, was he jinxed or drunk? cause someone who has about $400000 plus, shouldn't see gambling as an investment plan, yes that's what the person did he tried to double his money. This is a case of greed and foolishness, and I think I'll really love the OP to include a link so I'll follow up the whole story, I still can't believe people could be so foolish cause how on earth would someone lose about $400000 plus in just two days, it's mind-blowing and annoying same time and I think I'll be really disappointed if such person were a family member, I can't be that foolish but If i were in his shoes I would've stopped when I lost $12000 on first trial but he was too blind to see and decided to chase lose, everyone needs to Gamble Responsibly, please.

[zuzie]

Gambling responsibly is indeed very much needed because if a gambler does not have a good sense of responsibility then he will definitely play not on the right path so that he will make many mistakes in every gambling session.
A strong desire to achieve victory seems to be immediately obtained so that he plays gambling with a very strong sense of greed.

[Orpichukwu]

Continuing to bet to chase losses is the worst thing to do.

It seems that this player was high on dopimine and didn't think straight.

Losing your life savings is crazy, it's a lot of money, he ended up losing it in a very trivial way, if at least he had invested that amount in a business, he would have had a better chance of making a profit.

Lol, that's not the effect of dopamine or substance but the effect of gambling addiction.

Addiction can have far worst effects than gambling under the influence of hard drugs or influence of alcohol, because some people can still use part of their brains even while intoxicated, but when a gambler is sooooo addicted, it's as if the addiction shuts down all their brain cells and restrict them from making their own choices concerning their gambling activities, not until they've messed up big time.

Losing one's lifesavings to gambling is simply one common effects of gambling addiction, some even end up losing their lives and other valuable assets and some even end up indulging in criminal activities such as robbery, kidnapping and other criminal activities just to satisfy their gambling addiction. Yeah it has even flared more negative effects, that's why it's always advised to always try as much as possible to avoid falling into addiction, in order to avoid situations such as this.

[bitcoin_mining]

Gambling responsibly is difficult but those who can gamble responsibly do not lose much money gambling. A responsible gambler will think twice before taking any gamble to see how successful he can be in the way he is gambling. A responsible gambler will never decide to gamble on his own impulse and will not get too excited even if he loses. A responsible gambler does not depend entirely on luck in gambling but he depends on his skill and some luck and this strategy of the gambler helps him to win.

[Obari]

I know this is common sense to the majority of people on this forum but I can't stress how important it is to gamble responsibly.

There was a recent case in Australia where a man lost his entire life savings of $400,000+ in a 48 hour gambling spree.

The gambler lost $12,000 in a single bet and then tried to chase that initial amount but ended up losing his life savings.

I am a seasoned and experienced gambler and my one piece of advice to people is to only bet what you can afford to lose otherwise you are setting yourself up for failure.

The importance of responsible gambling can’t be over emphasized and that’s why the issues of gambling addictions can’t be over preached as that serves as a form of reminder to people to always watch their gambling habits so as not to fall victim of gambling more than they can afford to lose.
I’m sorry for the gambler but I think the idea of wanting to recover losses(chasing after loses ) is the major challenges in gambling and I think there should be some sort of flier on casinos earning people against but I guess they’re in for business and that will at some point be against their business and deprive them from making more money.

Another cause if this reckless gambling is either peer pressure or wrong advice from people and people should learn how to gamble responsibly and not to gamble more than what they can afford to lose and having a gambling budget might go a very long way to help reduce this issues .

[Kelward]

I know this is common sense to the majority of people on this forum but I can't stress how important it is to gamble responsibly.

There was a recent case in Australia where a man lost his entire life savings of $400,000+ in a 48 hour gambling spree.

The gambler lost $12,000 in a single bet and then tried to chase that initial amount but ended up losing his life savings.

I am a seasoned and experienced gambler and my one piece of advice to people is to only bet what you can afford to lose otherwise you are setting yourself up for failure.

Gamble responsibly is an advise that any gambler can not afford to ignore, the repercussions are very costly both mentally and financially. One of the worst things that can happen to any gambler is to chase lose, that is the highest height of irresponsible gambling, the gambler will become so addicted to recovering his lose that before he realizes it, he'd have emptied his entire savings. Not having a budget for gambling is another indiscipline by some gamblers, without a budget for gambling, the person can be carried away and keep going on and on till they exhaust all the money that they have. Gambling the amount that you can afford to loose is the beginning of responsible gambling.

[Reatim]

It took me a while to find the article.

It appears he lost $117,000 in 48 hours and then lost over $400,000 in a few months.

I wonder at what point did he think he was still acceptable to keep going? Was it because he was already too deep in anyway that he felt he needed to keep going because there’s nothing else to lose anyway?

There was a segment on the news a few weeks ago but it appears the incident took place several years ago.

You can read the article here.

https://www.theguardian.com/commentisfree/2023/jul/10/betstop-australian-anti-gambling-register

It happened several years ago but we all know this still happens a lot these days.

[michellee]

Gamble responsibly is an advise that any gambler can not afford to ignore, the repercussions are very costly both mentally and financially. One of the worst things that can happen to any gambler is to chase lose, that is the highest height of irresponsible gambling, the gambler will become so addicted to recovering his lose that before he realizes it, he'd have emptied his entire savings. Not having a budget for gambling is another indiscipline by some gamblers, without a budget for gambling, the person can be carried away and keep going on and on till they exhaust all the money that they have. Gambling the amount that you can afford to loose is the beginning of responsible gambling.

We must learns how to be responsible when playing gambling. That will not easy because we also needs to have control over ourselves so we can knows when we must stop gambling. We will makes ourselves in a big lost in gambling because our reason to playing gambling is just for fun.

We don't have to chase the lose, especially if that lose becomes bigger because that can caused us lose more money. We will difficult to gets our money back no matter how much money we use. We must understand that gambling is just an activity that we use to have fun.

Playing gambling responsibly can helps us to avoids addiction so we can enjoy our time while gambling. We don't have to do the same things as other people which is using more money. We just playing gambling without wants to wins the money because we knows that winning can comes to us anytime.

[Jody.Drummer]

Gambling responsibly is indeed very much needed because if a gambler does not have a good sense of responsibility then he will definitely play not on the right path so that he will make many mistakes in every gambling session.
A strong desire to achieve victory seems to be immediately obtained so that he plays gambling with a very strong sense of greed.

That's right, and in addition to being needed it is also always a personal skill that is always recommended to all gamblers, good responsibility in gambling can be said to be the key to avoiding various worse possibilities such as losing a larger budget, because with responsibility it is less likely for a gambler to chase his losses.

The impact of not having good responsibility in gambling besides being able to lose a larger amount of our money can also make a gambler stressed or depressed when experiencing a losing streak, and this stress can certainly be one of the triggers for impulsive or aggressive decisions that are more harmful to themselves, many of them end up taking out all their anger on the people around them such as family members including their own partners. Basically gambling is nothing more than a probability activity that does not have any certainty for the outcome, meaning that victory and defeat will always come alternately, but when luck is difficult to achieve then of course you will lose more than win, therefore the benefits of ability or having good responsibility in gambling can prevent various aggressive actions and decisions when in such situations.

[EluguHcman]

I know this is common sense to the majority of people on this forum but I can't stress how important it is to gamble responsibly.

There was a recent case in Australia where a man lost his entire life savings of $400,000+ in a 48 hour gambling spree.

The gambler lost $12,000 in a single bet and then tried to chase that initial amount but ended up losing his life savings.

I am a seasoned and experienced gambler and my one piece of advice to people is to only bet what you can afford to lose otherwise you are setting yourself up for failure.

The man's gambling story tells that responsible gambling is not just about how frequent or timing schedules of how we should gambling.
The tendencies of responsible gambling is about how we can gambling that it does not affect our daily lives especially our savings.

So then, gambling with what is affordable to loose is more of a responsiveness to responsible gambling by which, we can always meet up our financial goals even while still gambling.
Now, the had been unable to take note of that which has resulted him to a zero financial level.

[SatoPrincess]

Some people never learn. Gambling should be fun and done in a way that it doesn’t affect your finances or mental health. I think these people just lack discipline in their lives and it is only showing in their gambling habits. A responsible gambler would know that only less than 5% of his income should be used for gambling. When you go beyond your limit, you’re bound to find yourself in situation where you feel the pressure to chase your losses.

[Hispo]

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Right, that is the problem. He had all liquidity he wanted and it happened to be the worst moment for him to have it all at the reach of his hands. Also, I find it interesting how his bank whatever institution he was using to pay for his gambling sessions allowed all that money to be moved, no questions asked.
Here in my country, banks usually stop allowing people to move their money if there is some strange wiring of money or transactions. One using almost half of millions in less than 48 days would be easily flagged as a strange and unusual behavior. He would have been stopped and asked to call the bank to verify his identity or something similar.
it is because the first thing that fraudsters do when they get their hands on others accounts is to empty all they find.

[Frankolala]

This is why you should never chase your losses.

It might sound like you're a real loser but you will have to swallow that for yourself as well. You'll get into deeper loss and tougher situation if you won't stop from the time you're already in a losing streak.

Betting with $1,000 is big and multiplying that to 12x and then losing it first should give you the reason to stop already. Tsk.

Despite the fact that gambling can give you a huge amount of money doesn't mean that one should allow himself to be blindfolded with this by gambling when you are running at loss with the intention of winning back your losses. Before gambling, you should ask yourself if winning is the most important thing or you want to have fun.

If you consider making profit, you should know that losses are more likely to come your way than profit. This is why any little amount of profit that you have made, keep it or withdraw it and don't think of making more profit otherwise, you might end up losing all.

[boyptc]

This is why you should never chase your losses.

It might sound like you're a real loser but you will have to swallow that for yourself as well. You'll get into deeper loss and tougher situation if you won't stop from the time you're already in a losing streak.

Betting with $1,000 is big and multiplying that to 12x and then losing it first should give you the reason to stop already. Tsk.

Despite the fact that gambling can give you a huge amount of money doesn't mean that one should allow himself to be blindfolded with this by gambling when you are running at loss with the intention of winning back your losses. Before gambling, you should ask yourself if winning is the most important thing or you want to have fun.

If you consider making profit, you should know that losses are more likely to come your way than profit. This is why any little amount of profit that you have made, keep it or withdraw it and don't think of making more profit otherwise, you might end up losing all.

IMHO, winning, having fun and making a profit doesn't really have any difference. All of them are fun when you just want to be positive.

You win, you're happy. You have fun and you'll still be happy and you make money, you'd be the happiest person in the world.

But it is different when you've been losing all day long and the amount is no longer to joke with because it's a serious amount that's gonna hurt your finances and financially.

Don't get to that point and never solve it with another mistake through chasing it.

[Zadicar]

This is why you should never chase your losses.

It might sound like you're a real loser but you will have to swallow that for yourself as well. You'll get into deeper loss and tougher situation if you won't stop from the time you're already in a losing streak.

Betting with $1,000 is big and multiplying that to 12x and then losing it first should give you the reason to stop already. Tsk.

Despite the fact that gambling can give you a huge amount of money doesn't mean that one should allow himself to be blindfolded with this by gambling when you are running at loss with the intention of winning back your losses. Before gambling, you should ask yourself if winning is the most important thing or you want to have fun.

If you consider making profit, you should know that losses are more likely to come your way than profit. This is why any little amount of profit that you have made, keep it or withdraw it and don't think of making more profit otherwise, you might end up losing all.

To have fun is really just that something a cover up in overall on which you would really be that playing for the sake of money and not for fun or something this would really be your second priority.
This is why people or gamblers do really mess up their lives just because they do have that kind of approach into their minds that gambling is really that something that could make them rich
and on the moment that those kind of mindset and hopes that overcome your emotions or simply with your mind then you would really be definitely be making yourself that being an addicted person
on the moment that you would really be playing on gambling. Being responsible might sound that very basic but majority of players or gamblers do really failed out on this one
just because of those wrong hopes.

People do only stop on the moment that they would really be experiencing those unfortunate conditions and not something that before and this is why they dont really care
at first on the moment that they are still on good situation.

[Tmoonz]

Anyone gambling with more than what he or she can afford to lose, gambling to maximize profits and not for fun or entertainment, chasing losses, borrowing to gamble, spending more time and resources more than expected has fallen a victim of not gambling responsibly and it can probably becomes problematic which can lead to addiction, anxiety, depression and even suicidal in most cases. Understand your psychology and always stay within your reach to avoid a super story of your gambling exploration.