The 'play till you hit it' mindset

[Roseline492]

Hitting a jackpot win is good but it's something that a real gambler should prioritize as when it will even happen it can be unexpected but prioritizing it can become very problematic

jackpot is one of the best strategy for most gambling platform because that is actually one of the things that lured most gamblers into it, though in terms of jackpot prices it defers from gambling site because there are some gambling platform that have a good amount of money budgeted on it, so that when people sees it they would be attracted to it because gamblers always have different motives of gambling so some normally see jackpot as there easy way to achieve what they intend to but at the end they lose what they did not even expect without even winning any, so I actually believe that most people who has become an addict today also come from there. So as a gambler is not good to focus on hitting jackpot because it may not turn out well.

[Zoomic]

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…

Your longevity in the system doesn't guarantee or is not enough guarantee for anyone to hit the big win, no one could actually know when it will happen, perhaps it even be someone who is still new in the system yeah any thing is possible from my own perspective. However, I could say that anyone can do can actually win or hit a jackpot irrespective of how long or experienced the person is, for instance there are people who win at their first while others has been there for long without winning, the logic should do what you can as a gambler and wait for luck to catch up with you.

Another thing to consider is if that "big win" can cover up all that has been lost so far. Many people will not consider this, as long as there is a win, they are okay with it. Anyone who keeps motivating himself with the "play til you hit it" will keep enriching the casinos, bet shops and other gambling platforms untill they eventually get compensated with a little token from these gambling platforms and they tag it a big win. Majority of the people who have won through gambling will actually be losing if all the records of their wins and losses since they started gambling are put together. Anyway this is gambling, as not as the big win will lift their spirits, it wouldn't bother me that much.

[EarnOnVictor]

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

Certainly not! But honestly, it has worked for some people in the past, so as ugly as it could be, it's an example of desperation made rich. However, the proportion of those who could share such a success story is so little, so why beat myself on such a thing? I would rather take my mind off it so that I can breathe a good breath. Gambling is not easy, the more you think you can risk and win, the more you will risk and lose, so it's senseless to even think in that direction.

Certain lotteries are the only avenues I know that one can consistently risk without biting his pocket. Fine, if the luck comes, such a person will be happy, but if it doesn't come, it will not even cause you to feel awful since you parted ways with a few bucks. Anything outside this should be well planned for and managed to avoid issues of hopeless expectation. Above all, let's risk what we can afford to lose to be more accountable financially.

[uneng]

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

As long as you are chasing big wins with money you can afford to lose, it's not a problem.

You can do this with a low budget, betting very small sums of money, but with high multipliers and tiny winning chance. That is a feasible strategy on long run, because it won't harm your monthly budget, while still having a little chance of winning a huge prize.

What isn't ok it's to take big risks in a frequent basis, because it involves betting money you can't lose at all, otherwise you are going to be unable to pay for your monthly expenses, getting yourself in a lot of trouble as consequence. This kind of wrong decision will lead the gambler to be a total failure on his personal finances, what will also forbid him from gambling on long term, as there won't be money to do so. For that reason, this is the worse approach or strategy someone can have towards gambling.

[el kaka22]

I know a few people like that who plays slots games, because they have huge jackpots. According to them, what they are spending is like 50-100 dollars a month, nothing that will make them poor, they should invest that into bitcoin every month and will be rich when they retire if they do that for 20 years, but they don't and they think that if they do this every single month then eventually the outcome will be that they will win big eventually, like get the jackpot.

I do not agree with it, and I think it's fine for them if they are having fun, but I think financially it's a terrible decision and nobody should do it, we should probably see them not do anything good at this point at all, we need to keep it going for investment, not gambling.

[tread93]

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

Its nice to know that they at least have some of these safeguards in place. In a world when nobody is looking out for you except yourself, its nice to know that governments at least put in a little extra effort to protect a gambler with a problem. I can only imagine seeing an addict being asked for his income statement and being denied of gambling, that might get a little ugly depending on the person/behavior and the place!!

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?

[Dewi Aries]

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…

Your longevity in the system doesn't guarantee or is not enough guarantee for anyone to hit the big win, no one could actually know when it will happen, perhaps it even be someone who is still new in the system yeah any thing is possible from my own perspective. However, I could say that anyone can do can actually win or hit a jackpot irrespective of how long or experienced the person is, for instance there are people who win at their first while others has been there for long without winning, the logic should do what you can as a gambler and wait for luck to catch up with you.

Another thing to consider is if that "big win" can cover up all that has been lost so far. Many people will not consider this, as long as there is a win, they are okay with it. Anyone who keeps motivating himself with the "play til you hit it" will keep enriching the casinos, bet shops and other gambling platforms untill they eventually get compensated with a little token from these gambling platforms and they tag it a big win. Majority of the people who have won through gambling will actually be losing if all the records of their wins and losses since they started gambling are put together. Anyway this is gambling, as not as the big win will lift their spirits, it wouldn't bother me that much.

That's right, I'm sure that very few gamblers will think in this way, in fact I'm sure that most of them don't know about how big their losses are while they are gambling, and I would say that usually in gambling 10x losses can be replaced by just one or two wins, not about the number, but about the feelings felt by the gambler, and this is a cycle that will continue to be experienced by gamblers as long as they are involved in gambling, especially for those gamblers who make winning a priority.

Talking about the total number, I am sure that all gamblers must experience more losses than wins, but not everyone realizes this, which is because they are too focused on winning so they easily forget all the losses they have experienced because there is hope of realizing a big win, and we can see the proof that as time goes by, gamblers who always treat gambling excessively end up losing various possessions that they own or are left with debts. Nobody gets rich in the long run from gambling except casino owners.

[stadus]

I know a few people like that who plays slots games, because they have huge jackpots. According to them, what they are spending is like 50-100 dollars a month, nothing that will make them poor, they should invest that into bitcoin every month and will be rich when they retire if they do that for 20 years, but they don't and they think that if they do this every single month then eventually the outcome will be that they will win big eventually, like get the jackpot.

I do not agree with it, and I think it's fine for them if they are having fun, but I think financially it's a terrible decision and nobody should do it, we should probably see them not do anything good at this point at all, we need to keep it going for investment, not gambling.

We aren't in the early stages anymore, so investing $100 per month in Bitcoin doesn't guarantee we will be rich in 20 years. However, there's a likelihood that we will eventually hit the jackpot if we don't stop gambling, but I'm not sure we will be rich. The jackpot is just a rare win, but we are trying to hit it on a regular basis, so that's really challenging but at the same time exciting, especially if we don't spend a lot of money on it. Or maybe if we want double the chances, why not invest $100 per month in Bitcoin and gamble $100 too?

[Tmoonz]

Hitting a jackpot win is good but it's something that a real gambler should prioritize as when it will even happen it can be unexpected but prioritizing it can become very problematic

jackpot is one of the best strategy for most gambling platform because that is actually one of the things that lured most gamblers into it, though in terms of jackpot prices it defers from gambling site because there are some gambling platform that have a good amount of money budgeted on it, so that when people sees it they would be attracted to it because gamblers always have different motives of gambling so some normally see jackpot as there easy way to achieve what they intend to but at the end they lose what they did not even expect without even winning any, so I actually believe that most people who has become an addict today also come from there. So as a gambler is not good to focus on hitting jackpot because it may not turn out well.

I completely agree with, honestly there is nothing absolutely wrong in being ambitious of winning a jackpot but prioritizing it can actually becomes problematic as it may lead to attempting to gamble with a huge amount of money just for the sake getting a big win probably after checking what will become of the potential winning with a little amount of money and this can as well lead to addiction and gambling with more than the amount one can afford to lose.

[bakasabo]

Indeed there is nothing bad in dreaming to hit the jackpot, but people should be realistic about it. They should understand that all gamblers are trying to catch it, but jackpot is only one. It is an endless race, where it does not matter how many times you have participated in it, because lucky winner might be a newbie who has made his first bet.

[Roseline492]

Hitting a jackpot win is good but it's something that a real gambler should prioritize as when it will even happen it can be unexpected but prioritizing it can become very problematic

jackpot is one of the best strategy for most gambling platform because that is actually one of the things that lured most gamblers into it, though in terms of jackpot prices it defers from gambling site because there are some gambling platform that have a good amount of money budgeted on it, so that when people sees it they would be attracted to it because gamblers always have different motives of gambling so some normally see jackpot as there easy way to achieve what they intend to but at the end they lose what they did not even expect without even winning any, so I actually believe that most people who has become an addict today also come from there. So as a gambler is not good to focus on hitting jackpot because it may not turn out well.

I completely agree with, honestly there is nothing absolutely wrong in being ambitious of winning a jackpot but prioritizing it can actually becomes problematic as it may lead to attempting to gamble with a huge amount of money just for the sake getting a big win probably after checking what will become of the potential winning with a little amount of money and this can as well lead to addiction and gambling with more than the amount one can afford to lose.

Exactly that's the just the issues most people normally have, the moment they see that the gambling platform has a very high amount to be awarded the person that would win the jackpot they will channel all there money in other to win it, however the one that got me speechless was a gambler that was given a jackpot numbers to play with a certainty that he is going to win the jackpot so instead of betting with the little money he can afford he still went to borrow more money so that his wining will be very huge so after betting on the jackpot, when the results came out he became surprised to see that non of the game came out, so actually is very sad to see the way most people go about there gambling.

[STT]

That can lead to bad luck from overly expecting immediate results.  Best plan is to play across at least a week not just pile on in one day as its very possible to be unlucky on one day alone.

I would recommend to not allocate all your money purely to one day.   Split up the cash and come back on multiple instances, if however someone cannot win across an entire week then I can fully appreciate they may just give up at that point.

[Don Pedro Dinero]

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.

This site is very good. I tried it once for the Euromillions at maximum speed and after a whole morning the most I got was 5+0 (the jackpot is 5+2). In the simulation many thousands of years had passed but I don't remember exactly.

It is very good to get an idea of why you are not going to get rich with gambling but on the contrary. If you simulate it many times you will see that when you win something you have already spent more than you win. And the more you spend in your lifetime, the more you lose.

[Zigabel]

I completely agree with, honestly there is nothing absolutely wrong in being ambitious of winning a jackpot but prioritizing it can actually becomes problematic as it may lead to attempting to gamble with a huge amount of money just for the sake getting a big win probably after checking what will become of the potential winning with a little amount of money and this can as well lead to addiction and gambling with more than the amount one can afford to lose.

Winning a jackpot is a dream of almost every gambler and an opportunity to get it is something some gambler would give their almost everything for because they know it's a life changing opportunity especially for huge jackpots. Addiction can gradually creep in due to the fact that one may become so focused only on just winning.