The 'play till you hit it' mindset

[Dailyscript]

The big hit mind never comes or it may come. But how long do we continue playing till we hit it big? If we calculate the number of losses we may have acquired in the process of winning the big it might have been used to do something tangible for ourselves. We all know that for us to win big it is either we gamble with a very huge money on a lower stake or we gamble with the little money we have but on a high odd. Only in these two cases can we win big, meanwhile with luck it can happen its just the waiting period and mind to consistently gamble for how long it will take. And the last thing to look out for here is that it is rare because there is no certainty that luck will fall on their side.

[o48o]

One thing I'll never understand with some people is the mindset of playing and spending your balance on games like slots until you hit a big jackpot.
This is something I'll never comprehend. So many people seem to follow this train of thought, while it clearly seems quite problematic and should fall under the chasing profits/losses category. Chasing losses is behavior that some casinos (for example in the UK) are forced to regulate due to government regulation that aims to limit harm to addicted people. So for instance if you were making 1$ rolls on a 100$ balance and all of a sudden you deposit $10k, the casino will ask you for an income statement to make sure you're comfortable making this deposit without ruining your life.

Now, for the people that think they'll eventually hit a big win. Yeah, if you keep playing forever mathematically at some point you'll get a big win. How big though? Well... Slots and games with huge multipliers, aside of having also a house edge, usually also have what's called volatility. So for instance a slot that has a 1000x multiplier, won't give out these rewards 1/1000 times. It will give it maybe 1/4000. This is to make way so they can get profits but also keep some money for even bigger multipliers whenever someone hits them. And even if you hit the 1000x, in a slot with high volatility chances are that you would have lost much more money unless you were extremely lucky.

If you want to see how this translates in real life without spending any money, you could run a powerball simulator:
https://www.cuandomevaatocar.com/en/powerball/simulator/

Powerball has the hugest of rewards in pretty much any game. You could run the simulation for 50 years. i.e. your whole income earning life and still see that chances are very much against you hitting any jackpot or even making your money back.
I made the simulation of buying a ticket twice a week when the lottery runs, for 50 years, and this was the result:

You won in prizes 8.84% of the investment

thankfully not real money, otherwise I could have bought my grandson a used car or something

Not everyone can be a jackpot/big hit winner and that's something we ought to accept I think.

What are your thoughts on this? Is constantly chasing big wins a practice you consider ok in gambling?

"Chasing wins" doesn't really tell about gambling problem, because all we do is chase a win. That's a main incentive in gambling. It's all depends how you are doing it.

But it's not an investment, and i don't think that anyone playing them consider them as investment. So do these people actually exist, who think it's a mathematical certainty to win at some point? because it sounds like someone has misquoted someone else. If those people indeed exist, they don't know how to apply math on real life.

Also when we are comparing jackpots, i don't think it's fair to compare something with smallest possible probability to win hundreds of millions (biggest one being $2.04 billion), to some slot machine with 1000x jackpot. 1000x is not actually impossible to win in your lifetime unlike powerball. Trusting that you win it and playing until you do won't most likely be profitable, unless you are lucky, as statistically you already have bet lots of money before the 1000x win. But when it comes to powerball, i don't think anyone is so ignorant that they would think they won if they just played enough. As even in theory, there are probably more changes to be born as yourself in the history of the planet.

[mirakal]

That kind of mindset is very common in most gamblers. Some had already lost a lot of money, gambling for many years, and still not hitting the jackpot prize but they still remain hopeful that one day they could be lucky. We couldn't really think how they look into that situation and never tired of waiting and I don't see it as a healthy gambling mindset but some sort of disorder. And I couldn't imagine it is enjoyable anymore especially when we know that we are losing too much and might be a bigger amount than the jackpot prize. I couldn't think it made sense and for me, it is a losing idea.

[Wapfika]

Not everyone can be a jackpot/big hit winner and that's something we ought to accept I think.

What are your thoughts on this? Is constantly chasing big wins a practice you consider ok in gambling?

In slot games, I totally understand why people think this way since it provides a small to medium win every bet that makes player keep playing in contrary to the lottery like powerball that very hard to win even the minor prize due to the many combinations it requires in able to win.

There’s no harm on becoming positive and persistent with betting as long as you are not over extending your budget for gambling. It’s only bad if someone forcing his bet already just to hit the jackpot immediately.

Just like me, I consistently place a few bets on lottery and slots in monthly basis using my allocated budget.

[Die_empty]

That kind of mindset is very common in most gamblers. Some had already lost a lot of money, gambling for many years, and still not hitting the jackpot prize but they still remain hopeful that one day they could be lucky. We couldn't really think how they look into that situation and never tired of waiting and I don't see it as a healthy gambling mindset but some sort of disorder. And I couldn't imagine it is enjoyable anymore especially when we know that we are losing too much and might be a bigger amount than the jackpot prize. I couldn't think it made sense and for me, it is a losing idea.

Gambling is a game of trials and luck. I don't think having a target to win big is a wrong mindset. My reason is that as much as the gambler gambles within his budget, it's not bad to aim high. Some people are high-risk takers and this is one of the ways of winning big. If you don't take high risks you might never win big. For those who just see gambling as fun and a means of getting just a little extra funds, it is not advisable to have the jackpot mindset. But some people see gambling as a means of winning big and they have the money to finance their gambling goal, targeting big wins is not a bad idea. These set of people believe that in gambling you keep trying until you win big, there is no need to give up.

[rodskee]

Chasing losses is behavior that some casinos (for example in the UK) are forced to regulate due to government regulation that aims to limit harm to addicted people. So for instance if you were making 1$ rolls on a 100$ balance and all of a sudden you deposit $10k, the casino will ask you for an income statement to make sure you're comfortable making this deposit without ruining your life.

well that seems very helpful from the government instead of trying to eradicate gambling completely they try to just control and maintain the gambling of their citizens this promotes responsible gambling and doesn’t require gamblers to go under the radar and risk doing it illegally.

What are your thoughts on this? Is constantly chasing big wins a practice you consider ok in gambling?

people think that repeatedly gambling will all be worth it once they win but obviously this is not ok because you never notice that you actually are spending way more than what you can win at some point

[Solosanz]

That mindset you can find on gambling addict.

It's better for someone to work hard till get rich rather than play till you hit it. The first one even you fail, at least you will not regret what you have done and you can still afford to pay monthly bills. But, the second one, you might become homeless and not have anything left.

I think that of drake is for showmanship. He brings himself to the faces of households by doing that. It is about being relevant for the show business and I think it could be his style to be more relevant in the social media space.

In social media you can become famous from two ways, either you're very smart or you're very dumb. Drake choose to act very dumb by betting on something that almost impossible to win.

[iv4n]

And is there any other way to play some gambling games and win? We play it until we hit it, and we hit it we usually continue to play... because we love to play. And if we don't hit it, we take a little break arm with more money and we try it again... it's gambling.

I don't understand people who like to play slots with FUN money or use some simulators for lotteries and other gambling games... it's like learning to swim but you don't wish to jump in water. The real thing is always different, and maybe you can spend your entire life playing the lottery without hitting anything, but you can hit something in the first year as well... that's why it's gambling, and if you don't play it you don't have chances to win. But as long as you play it & enjoy it you have some chances to win, small or big depending on your style of playing and game of choice.

[Natalim]

That's usually our mindset, be positive and we hope that lucky luck will be on our side. We then continue to play let's say slot games, worst kind of odds but still, maybe we will be lucky that we will hit the jackpot and play all our capital in just one sitting, and then deposit for more if we lose that initial capital.

And that kind of mindset should not be taken from us, otherwise, gambling would not be fun anymore. We lose most of the time, and that's normal and acceptable, but we hope that one day we will hit the jackpot. So basically, it's like we are saving our money, but in due time, we will be able to harvest what we planted. For some, it will come early; for others, it will come later, and for some, it will never really come. But that's normal. As I said, that's life, and we don't all have the same luck and fate in gambling.

[traderethereum]

Whatever the gambling games you play, you don't have to spends all of the money until you hit the jackpot because you will lose all the money without have a big chance to wins for some money or hit the jackpot. You must realizes that gambling is not a place to make money and that will not useful if you try to chase the wins and that's why you must limits your money from the big lose.
People still do this because they thinks they can wins much money in the next rounds and recover their lost money but that will not always happans because gambling will takes all of your money. Chasing a big wins by keeps playing gambling even until you lose all of your money is not recommended because you needs to allocate more money without you knows the limit.
That will be a fast way to lose your money but you will not gets a good outcome from gambling because when you lose all of your money, that will be a big lose for you. It is better you don't do that if you don't wants to lose all of your money.

[irsykes]

if we chase a big win it will be very difficult and how much money we will lose again. If play without logic or wisdom, I think most people will suffer defeat. On the other hand, if society is not ready to accept reality, it will definitely destroy everything. As long as you have a controlled mindset, you should not have the ambition to produce big wins but use controlling logic. However, a win that is a multiple of 2x the deposit is already good for us to take. If have big ambitions about other people's standards of victory, I don't think that's the right thing to emulate. because people's luck is different

[Hewlet]

I think that it is true if you play long enough you’ll hit a big win. The question is when you do hit the big one, will you know it is THE big one? I’ve only known one person who ever hit a big jackpot and then never gambled again. After decades of gambling he hit it big and then said he finally got what he’s been playing for. One in a million…

any one that hits a very big win and never gambles again must have been one of the most well disciplined person to ever come accross. The general thing for most people that are even disciplined enough is that they temporary exit the gambling sphare for sometimes after they've won big and will after a while come back into gambling or might secretly gamble occasionally without actually telling a third party about it. If you're into sports betting and you've won big and decides not to gamble again, it's only going to take maximum of a season for you to stay out of gambling but once another season comes into full swing, it's going to be very deficult to still control your gambling habit.

Generally, no amount is too big to assume that once you've won such amount that it's going to be the end of gambling for you. The reason why people talk about gambling being addictive is because every win gives you the impression that you can win even bigger and that's what will happen to you when you've won a massive amount. It's even possible that for most people, for winning much amount, they will be made to gamble with an higher amount since the finance is available.

[coin-investor]

Not everyone can be a jackpot/big hit winner and that's something we ought to accept I think.

That's a fact, gambling is a game of chance you can play for many hours and many months and you still cannot find the right method to win, you can experiment but you will end up where you started so many tried and the same number failed.

What are your thoughts on this? Is constantly chasing big wins a practice you consider ok in gambling?

As long as you're comfortable with your losses you can do that, and as long as there is no pressure for you to do that you can do that at your own risk, I know of bettors who take this risk and they are ok with it and consider this as an exciting part of gambling.

[Lanatsa]

This is us gamblers, we gamble to hit it, our goal.

I think most of us are really aiming for a huge win that we don't have to work for a long period of time. Like when we are lucky and we hit the jackpot, so we will be constantly gambling, will not mind our losses as eventually that time will come. However, that doesn't mean that we will stop after the win as we are gamblers and we know we enjoy what we are doing. We don't talk about our chance here as the house really have the big chance of winning, our chance comes when we are lucky and everyday we are trying our luck to win big.

At the end of the day, as long as we gamble according to limit, everything should be fine.

Yeah, most gamblers really look for that big hit and that's what our goals are. So regardless of how much we bet, be in max bet or just $0.1 we always think that at the end of the day, we are going to win and our chances are very high.

That's usually our mindset, be positive and we hope that lucky luck will be on our side. We then continue to play let's say slot games, worst kind of odds but still, maybe we will be lucky that we will hit the jackpot and play all our capital in just one sitting, and then deposit for more if we lose that initial capital.

All of gamblers do really be able to experience this condition specially when we are just that noob.When it comes to this situation on which we are really that hoping that we could find up some methods that could beat up the casino or gambling on what we are dealing with.You would be having those thoughts that you should really be that trying out different varieties of strategies on which on the time or moment that you do win then you would be sticking into that but of course luck isn't something that works all the time and it would be ending up for you experience different situation.

People never ever learn in speaking about gambling on which they would really be having that a never ending search for strategies that you do know which you neither the ones who had made it or making use of others strategies as well.
It's not that bad to test it out as long you do have the control then it would really be just fine.

[aioc]

One thing I'll never understand with some people is the mindset of playing and spending your balance on games like slots until you hit a big jackpot.....
 And even if you hit the 1000x, in a slot with high volatility chances are that you would have lost much more money unless you were extremely lucky.

That's how gamblers think they forget all their losses and only rejoice and remember their winnings, I remember a friend during our drinks, boasting that he is very lucky to have won $700 in a lottery but he's been betting and losing for the past 10 years, he forgot all the money he losses and only cherish his winnings.

Not everyone can be a jackpot/big hit winner and that's something we ought to accept I think.
What are your thoughts on this? Is constantly chasing big wins a practice you consider ok in gambling?

If you keep doing this, you will end up losing your savings and livelihood and even your mind, there is limitation on how far can you chase your losses, and you must know when and how to give up.

[_act_]

Not everyone can be a jackpot/big hit winner and that's something we ought to accept I think.
What are your thoughts on this? Is constantly chasing big wins a practice you consider ok in gambling?

If you keep doing this, you will end up losing your savings and livelihood and even your mind, there is limitation on how far can you chase your losses, and you must know when and how to give up.

This is true but not entirely true. Assuming you earn $500 weekly and you are using just $5 to be looking for $5000 on a high odds games, that is not risky too much and the person knows what he is doing by chasing big winning. Even if he continues to lose the $5 every week, he will not see it as any big issue at all.

[Moreno233]

Anyone with this mindset is already defeated because that is the basis of over leveraging and getting wiped out. There are good gambling days and there are bad gambling days, the ability to recognize them is what will help the gambler make good use of the good days while cutting the losses on the bad days. Therefore, when the gambler have the mindset of 'play until you hit it', then on a bad gambling days he will lose everything in his account because that day can be like the gambler is being monitored from the spiritual realm.

[Text]

I think it’s the thrill of the game. Gamblers often seek entertainment and excitement beyond just winning money. The adrenaline rush, anticipation, and thrill of playing contribute to the overall experience. Even when losing, the body still produces adrenaline and endorphins, which can create a positive feeling despite financial setbacks. So, for many, gambling isn’t solely about the outcome; it’s about the process itself.

[Gaza13]

The big hit mind never comes or it may come. But how long do we continue playing till we hit it big? If we calculate the number of losses we may have acquired in the process of winning the big it might have been used to do something tangible for ourselves. We all know that for us to win big it is either we gamble with a very huge money on a lower stake or we gamble with the little money we have but on a high odd. Only in these two cases can we win big, meanwhile with luck it can happen its just the waiting period and mind to consistently gamble for how long it will take. And the last thing to look out for here is that it is rare because there is no certainty that luck will fall on their side.

Yes, we should not have thoughts like that, of course this will damage our own game by expecting too much to get a big win. The main thing when we play and have the possibility of winning is that we always focus on each round and of course we have to be observant of the opportunities we get and make the best possible use of these opportunities. It's true that to get big results of course our bets have to be big, but in my opinion this is too hasty when you play, it's better if you bet small, in my opinion this isn't too much of a problem and I think you have to play relaxed without any burden and be ready to lose.

[Hispo]

...

I must say I was completely unaware of that regulation going on in the United Kingdom which is used to protect people from depositing an important percentage of their savings into gambling accounts, some people may think it goes against one's personal freedoms and rights to do whatever we want with our money, but a line must the drawn on the ground for gamblers, specially addicted ones to protect themselves from their own actions, it does not have to be authoritarian, though, reducing liquidity of their assets would be enough, so at least they can continue to gamble at a slower pace.
On the topic of continuously playing lottery or slots which very high multipliers, I am not fan of it, because I have done some of the math myself, and I am aware it is pretty much unlikely for me to hit a jackpot in my life time, still, that won't stop millions of people out thete to continue to try.
In my opinion, the biggest encouragement for gamblers who play slots and lottery id watching on TV and on the internet the real life stories of those who played and won.