The 'play till you hit it' mindset

[Sim_card]

Majority of gamblers started gambling to win big and that has being their mindset until they realize that it is not possible to win big from gambling the way they thought. Some made huge losses and started gambling responsible. Chasing big wins is not good because you will lose more and that is why one just need to gamble for fun and don't put that in your mind because it can lead a huge losses since you will not the cautious with the amount of money that you are using to gamble.

[Rockstarguy]

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…

The funny thing is that even if gamblers hit a big win they wouldn't even give a break or quit, they would still want to continue to play to see if they can also hit a big win again. After playing gambling for a longtime and one finally hits the big win it feels as if it is possible to hit another win very easily. It is hard to see people who hit big win in gambling to quit because the experience is something they would want to experience again.

But the most important thing is that if gamblers can be conscious after they win big to give a break and enjoy their money than to continue to play which is possible to lose all the money in games.

[Coin_trader]

Majority of gamblers started gambling to win big and that has being their mindset until they realize that it is not possible to win big from gambling the way they thought. Some made huge losses and started gambling responsible. Chasing big wins is not good because you will lose more and that is why one just need to gamble for fun and don't put that in your mind because it can lead a huge losses since you will not the cautious with the amount of money that you are using to gamble.

This is only true if gamblers thinking of winning the jackpot as top priority instead of the result of his gambling session for that specific time.

I don play a lot of Blackjack and Slot game in regular basis but I never consider winning jackpot as target for my game but rather to end up in profit is already sufficient for me. Winning a jackpot is just a bonus for me. Setting a high expectation on winning a jackpot will just make you chase and involve with greedy bets.

It’s not bad to aim for huge win but make sure that it’s not your top priority but rather focus on ending your game in profit.

[Accardo]

Majority of gamblers started gambling to win big and that has being their mindset until they realize that it is not possible to win big from gambling the way they thought. Some made huge losses and started gambling responsible. Chasing big wins is not good because you will lose more and that is why one just need to gamble for fun and don't put that in your mind because it can lead a huge losses since you will not the cautious with the amount of money that you are using to gamble.

The hit and run tactic is mainly a tool devised by advantage gamblers to trick the casino. However, there is a sharp distinction between tricking the casino and getting tricked by the house. Such a ruse mindset of exiting the casino after a win, hardly impacts precisely the profit of a player, except for the truth that it saves the gamblers from getting knocked cold and losing the wins. One more radical attitude of players who hit and run is the ability to stop after a win. It's an advantage and saves them lots of trouble. This strategy helps players to escape gambling compulsively. However, waiting on the hit, could be a big trick the casino could use against the player, and swallow up the player's bankroll before the win arrives.

[Findingnemo]

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.

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

I won't say this falls under the category of chasing the loss for the example you provided still anyone who consider that they can win big just because they keep buying tickets all the time and being delusional as an investor then they are just dumb. Luck is something that can hit anyone at any time or it could never occur at all but we can't really have any control over it so what we can do is just be rational with our decision and just enjoy the experience of hope they could win something with their little money and they also need to be aware it may never ever happen.

[Ultegra134]

The funny thing is that even if gamblers hit a big win they wouldn't even give a break or quit, they would still want to continue to play to see if they can also hit a big win again. After playing gambling for a longtime and one finally hits the big win it feels as if it is possible to hit another win very easily. It is hard to see people who hit big win in gambling to quit because the experience is something they would want to experience again.

But the most important thing is that if gamblers can be conscious after they win big to give a break and enjoy their money than to continue to play which is possible to lose all the money in games.

That's true; a large number of gamblers will keep going after hitting a big win with the mindset that now they've made money, so the budget has increased and, therefore, they can afford to spend more, until they lose all their winnings along with the deposit.

Generally, what @Alani123 mentioned is very common; people think that the more you play, the higher the chances of winning, and as you've also mentioned, statistically, it's true; however, at what cost? If I end up spending $500 in failed attempts just to win $300, $400, or even more, then what's the point? I don't understand this mindset either.

[Oilacris]

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.

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

I won't say this falls under the category of chasing the loss for the example you provided still anyone who consider that they can win big just because they keep buying tickets all the time and being delusional as an investor then they are just dumb. Luck is something that can hit anyone at any time or it could never occur at all but we can't really have any control over it so what we can do is just be rational with our decision and just enjoy the experience of hope they could win something with their little money and they also need to be aware it may never ever happen.

When we do gamble or having that kind of aim on making money then that kind of approach is really that normal.It would really be turning out that to be bad on the moment that you do find yourself having that kind of approach on which you are forcing yourself to be a winner.People do usually mess up their lives on the moment that they will really be chasing up on not being just a winner but also trying to break even their loses on which we know that when it comes to gambling then this kind of approach or treatment will really be leading into disaster.This is why you should be careful and be that sensible towards the decision that you are making.

[Saint-loup]

Usually national lotteries have huge house edge and so they have a very small RTP(aka Return To Player) consequently. This RTP is usually between 60% and 50%, but closer to 50% than 60% and sometimes even lower than that. I didn't know the simulator of the link you've posted, it seems to be a spanish latin american tool because most games simulated seems to be games from this continent but it's interesting, it shows how people could spend their entire life to win the big prize of a national lottery while playing everyday and have actually very small chances to achieve that goal. Thank you for posting this link.

[Fortify]

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?

You seem to have conflated two things - gambling on things like lotteries which are only held once or twice a week and people blowing through their previous spending limits. It is such a astonishingly rare scenario that someone would blow $10k buying lottery tickets in the hope of winning, compared to someone dropping the same amount at a casino. It's actually a great idea to monitor and restrict people from greatly expanding their gambling limits in a short space of time. If someone starts by gambling $10k a day, that is one thing, however if they begin by betting $10 a day and suddenly decide to bet $10k one day - then a check on their means of spending is a perfectly normal and rational thing to do, if we want to encourage responsible gambling.

[Doan9269]

Not everyone that is gambling will have the opportunity of hitting it once like that, some may have to take more longer time before things that turns normal as expected, gambling is not that predictable like that as we have  always thought, it may not be as easy like that, some may have a target of hitting the jackpot while its not that easy for them to afford winning base on the kind of games they are playing or even when luck is not working as for them to be able to hit their set targets,which makes it unpredictable in many ways when we are gambling, we don't know what the end may be.

[Juse14]

Slot play for the purposes of hitting a big jackpot is considered high-risk behavior, and this is something that a lot of people often do. It falls under the category of what many would call chasing losses.

If someone believes they will eventually hit a big win, they're likely correct but the chances are exceedingly slim. High multiplier slots with high volatility seldom deliver substantial wins despite pledging a 1000x multiplier, such promises often result in only one win out of four thousand spins, not one thousand spins, as an instance would indicate for only one prize of this value from 4000 possible spins.

Winning large is plausible, but it seems probable that a person loses more money than they win if not exceptionally fortunate. This underscores the importance of playing smartly, don't empty your account hoping for a windfall return; play with caution and be mindful of the risks involved.

[Cryptoprincess101]

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.

There are gamblers that have targets of hitting a huge jackpot so until they meet their target it is always difficult for them to quit because even if it takes them emptying their balance in the chase for huge jackpot they will take the risk.
Even with regulation every gambler have the liberty to stake any amount they wish to stake so far as they are aware of the kind of risk they are exposing themselves to and are able to accept the outcome of it and I think that is the reason why the casino will ask if you are okay with the amount you choose to stake your bets with so that they can be sure that you know what you are doing.

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

Constantly chasing huge wins for me is a good practice but only for those gamblers that gambles for fun and not those die hard or addicted gamblers that depends on gambling and are inquisitive of winning huge and loses most of the time. The reason why I said chasing huge wins is a good practice is because you can be lucky to win huge and decide to invest your money on more meaningful assets because it's a huge amount instead of winning very little amount and still end up spending it to gambling in the quest to get more wins.

[Mr.right85]

Majority of gamblers started gambling to win big and that has being their mindset until they realize that it is not possible to win big from gambling the way they thought.

How do you mean it’s not possible to win big from gambling?
You should take that back as the statement is highly untrue. I get it that most times, before someone gets to win some substantial amount, the individual gambler most have lost several times. Some gamblers don’t even get close to winning their capital or bets in total losses even but, it’s possible to win huge in gambling.
I’ve seen it happen many times where an individual won over a 10,000x there stake.
You can say it’s difficult but not impossible.


The okay till you hit mindset is a bad one I must agree. Some days just ain’t your day and it shouldn’t take you having to empty your gambling balance to realize that. When your loosing, a lot of sentiment clouds your judgement and loses set in. It’s best you retire and continue on a different day, trying other markets and multipliers.

[Issa56]

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.

That’s just what some gamblers do; they will never stop gambling even when they are supposed to stop just because they want to hit the jackpot, but things don’t work like that. Even if you want to hit a jackpot pot, you have to be smart. You are not supposed to gamble with everything you have because you want to hit the jackpot, and we should know that not everyone will be hitting the jackpot. In gambling, some people might just be winning a little amount of money, they won’t be lucky enough to hit the jackpot. Why some people will be lucky.

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

I think that’s totally wrong in gambling. If you are chasing a big win, then you might not even get it, and you will be addicted to gambling because not all gamblers are going to win big, so you might not be lucky to win a big amount of money from gambling.

[alani123]

Slot play for the purposes of hitting a big jackpot is considered high-risk behavior, and this is something that a lot of people often do. It falls under the category of what many would call chasing losses.

I totally agree and to add to that though, high risk or not... If someone can afford it then it's not something to worry about in my opinion. But people gambling unbeknownst to the risk or odds. And to me that's what makes the mindset I mentioned in the op risky and potentially even damaging.

People thinking they will gamble till they 'hit it' are trying to downplay their losses but even if they win big it's unlikely they'll win back everything they've lost. And also by this point I'd say unlikely to just stop like that.

[AmoreJaz]

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.

That’s just what some gamblers do; they will never stop gambling even when they are supposed to stop just because they want to hit the jackpot, but things don’t work like that. Even if you want to hit a jackpot pot, you have to be smart. You are not supposed to gamble with everything you have because you want to hit the jackpot, and we should know that not everyone will be hitting the jackpot. In gambling, some people might just be winning a little amount of money, they won’t be lucky enough to hit the jackpot. Why some people will be lucky.

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

I think that’s totally wrong in gambling. If you are chasing a big win, then you might not even get it, and you will be addicted to gambling because not all gamblers are going to win big, so you might not be lucky to win a big amount of money from gambling.

If you will follow your desires, most definitely, you will go home on the losing end. Because the fact that loss is inevitable in your games, you can easily go bankrupt if you won't stop and just play without any plan for your funds. Much better to set a limit so you know your budget is not totally screwed owed to your gambling.

This is why in my opinion, it is not really a good practice chasing big wins especially if you are talking about luck-based games. I can understand if you are into sports betting or poker, where you can consider yourself more or less a professional or expert. But if you talk about casino classics such as dice, roulette, I don't think it is in your best interest to chase big wins here. You will likely be more on chasing losses.

[Yatsan]

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…

Without certainty but will indeed increase the chances of course. However if you will be going with the number of trials, it would be your chances of winning the jackpot vs how long could your money resist or last in gambling. It all depends on how lucky you are as a gambler by thaat time you chose to place your bet. We saw strategies of plaacing big amount to chase down multiple loss. We also saw some people who keeps on betting 'til they die (reference to lottery) and still not winning the game. Soke people are even betting their "last money" out of frustrations of getting rich.  And again, nothing will happen in accordance with your will if luck won't be alligned on that purpose. So what to do? Just play the game without risking that much. Gambling is gambling in the first place and we cannot control things in particular with the outcome.

[Stepstowealth]

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.

Some games are meant to be played multiple times and not just once, and slot is one of that kind of game. Many people who play this games do not have a budget while playing this game or even know that they should have a budget before playing so as much as they have the money available to gamble with, they keep going.
The reason you will never understand it is because you know better than to keep gambling when you have already lost enough money for that day.

[Weawant]

For some persons they see it as the best strategy to constantly chase big wins because it's believed that a single win can make up for all of that which they have lost while trying. Meanwhile it looks worthless trying your chances on something that isn't ever Looking like it's ever going to work because the chances are slim, this are the taught of the others, all the same this doesn't still change the fact that eventually the jackpot will be won.

Not minding how less frequent the opportunity to win the jackpot do come, people still try and still want to get the a chance at it because usually it's a life changing opportunity for some, I don't see it as a really Ideal thing to follow that long enough but I believe that for those who do follow it up, they can be lucky some day, as impossible is nothing actually with things as this. Only those who try gets a chance.

[Russlenat]

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.

Some games are meant to be played multiple times and not just once, and slot is one of that kind of game. Many people who play this games do not have a budget while playing this game or even know that they should have a budget before playing so as much as they have the money available to gamble with, they keep going.
The reason you will never understand it is because you know better than to keep gambling when you have already lost enough money for that day.

If we understand that gambling is for entertainment, we will definitely not question the level of probability in a specific game, even if it doesn't give us the edge. Even with the worst game in terms of a gambler's chances—the lottery—there are still lots of people playing and hoping to hit the jackpot one day. The thing about this kind of game is that you don't need to bet a big amount of money, just a small amount, and if you are lucky, you'll hit the jackpot.

In our country, we have a government-run lottery with millions of bettors on a daily basis. As we all know, lottery games offer less than a 1% chance of winning, so why are people still attracted to them? The simple answer is because the reward is high. Betting less than a dollar and winning a million dollars—isn't that attractive?