Why Many Gamblers Ignore Risk Until They Experience A Big Loss

[Yorubek]

It is very important to maintain self-control over oneself at all times through gambling and it is not right to gamble aggressively in the hope of big profit, it is better to gamble only with the money that you can afford to lose for entertainment purposes, it is never right to gamble with the necessary money because there is no confirm of winning money through gambling, it is very important to take time after winning or losing while gambling. Despite knowing all these things, a gambler does not gamble in a disciplined manner until he faces a big loss. If we are aware from the beginning or gamble in a disciplined manner, it is possible to protect ourselves from big losses.

[Gozie51]

Conclusively, experience  teaches lessons that advice can’t teach, many gamblers understand the rules but they don’t understand the value of those rules until they pay the price of ignoring them. My question is that, Do you guys think gamblers can learn risk management without them experiencing a loss or personal experience is the best teacher when it comes to gambling?

There is a truism that experience is the best teacher. You can't experience an accident if you have not been in one. So therefore, it is the fact that a gambler after experiencing losses, he would start cautioning himself and looking for means for risk management. For example, those new gamblers who are greeted with lucky win will hardly look for means of risk management because they won't have need for them as they are winning. But as soon as they join the queue of the experienced losing gamblers, then they will be cautious about how much risk they are taking.

It is a wise person that learns from another person's mistake. So a gambler need to plan how to manage his risk even before gambling. Risk management is important in gambling.

[cryptoaddictchie]

Like most says Experience is the best teacher. I guess this statement live up to this line, and it really happening the way it should be. Most gamblers will only learn to control their risk when its already too late. Ive be honest, Im one of thosr and so were everybody else too here. Only fool will likely deny this and be called as responsible one.

It is very important to maintain self-control over oneself at all time!

This is so easy to say but hard to do when youre in the moments already!

[Itz-prisigold]

Experience is still the best teacher in gambling; until you lose money that you cannot afford to lose, you will not learn to stick with your budget and put this in your heart. When I was new to gambling, I knew the rules and the advice to follow so I will not lose a lot of money, and how to keep my money safe, but it's different when you are playing; you cannot handle your greed and the temptations.
It's hard to be in a safe side of gambling when you have no experience with the many dangers associated with gambling.

I agree that experience is a big part of the equation,  but I also believe that there are people who have learned more quickly than others because they pay attention to the things that they have done wrong.  Two players can experience the same loss and one player changes his behavior, the other player can just be repeating the same mistake.

Experience is good, but reflection is what makes it a lesson, in my opinion. Learning from experience, if a gambler cannot or refuse to learn from he's or her past mistakes,  even years of having gambling experience can not help that individual stay safe.

[Fortify]

Many gamblers knows all the advice that people gives them. They know about bankroll management, setting limits, avoiding chasing after losses, and self control. But the truth is that many gamblers don’t take all those things serious until they experience a painful loss. When a person  wins or lose only little amount of money, they usually believe that everything is under control. Because of this confidence, they will start increasing their stake, neglect warning signs and take bigger risks.

The truth is that, risk doesn’t show itself immediately. A person may make several careless bets and still end up winning. This can make a person believe that they’re making a good decision, whereas it’s luck that Favor’s him. But once they encounter one big loss, that’s when reality show up. It’s at that time many gamblers start to understand the importance of emotional control, discipline, and bankroll management. Some people even discover that the money they have lose in one bad day can wipe out weeks or months of previous winnings.

Conclusively, experience  teaches lessons that advice can’t teach, many gamblers understand the rules but they don’t understand the value of those rules until they pay the price of ignoring them. My question is that, Do you guys think gamblers can learn risk management without them experiencing a loss or personal experience is the best teacher when it comes to gambling?

I think it's part of human nature, we can all suffer from little losses and write them off as insignificant, but most of us have a trigger that is switched when we hit a big loss. It's actually enough to turn us off that activity altogether and might be enough to stop someone gambling their whole lifetime after that - simply not liking to lose money or accept that you made quite a big mistake that led to it. The people that keep on betting after that would seem to be arrogant or ignorant in many ways, because they are assuming to be more clever than the bookmaker which on average has been emptying their pockets steadily over time. The amount of people who can turn it around and become profitable at that point is almost insignificant, especially casino players.

[SamReomo]

There is a truism that experience is the best teacher. You can't experience an accident if you have not been in one. So therefore, it is the fact that a gambler after experiencing losses, he would start cautioning himself and looking for means for risk management. For example, those new gamblers who are greeted with lucky win will hardly look for means of risk management because they won't have need for them as they are winning. But as soon as they join the queue of the experienced losing gamblers, then they will be cautious about how much risk they are taking.

In many cases the gamblers will get addicted instead of learning something from their losses. Although, I can't deny the importance of experience but in gambling it doesn't work. Instead of it ones's responsibility works but these days there are very few gamblers who gamble with responsibility.

Risk management is important in any area where money is used and everyone should learn about it but in gambling one should first learn about gambling responsibility because that's more important than anything else. Those who gamble with responsibility never get addicted to gambling and they understand that it's not easy to make money from gambling. They gamble for entertainment to test their luck, wins and losses both are okay for a responsible gambler.

[Livingleged]

Conclusively, experience  teaches lessons that advice can’t teach, many gamblers understand the rules but they don’t understand the value of those rules until they pay the price of ignoring them. My question is that, Do you guys think gamblers can learn risk management without them experiencing a loss or personal experience is the best teacher when it comes to gambling?

Honestly I doubt if it’s possible, gambling responsibly is what Dey tag it as risk management and it’s always not a linear process, you can be managing risk and be stake what you can afford to loss in the first place but in the process it might get boring because you’re not making enough money you desire and it will push you to increase your stake and chase for big wins, that where some gamblers lose it all. To be very candid i dont see anything as gambling responsibly it’s all about luck and consistency.

[danherbias07]

There's no way someone will learn risk management and avoid losses. There will still be some on the way forward, and it's best if we accept that as early as possible to avoid regrets and frustration.

Experience is still a big factor in why a gambler will always consider risk. High, medium, or low. He or she must be prepared with all of this and must identify which ones will gain profits and which will lose at a high percentage.
It will be difficult to identify all of that if you have not yet taken the first step or the first leap. So, yeah, experience will be your learning ladder into growing as a better gambler when it comes to risk management.

[Jubilee58]

Conclusively, experience  teaches lessons that advice can’t teach, many gamblers understand the rules but they don’t understand the value of those rules until they pay the price of ignoring them. My question is that, Do you guys think gamblers can learn risk management without them experiencing a loss or personal experience is the best teacher when it comes to gambling?

It is said that experience is the best teacher, I agree that many of the gamblers who have become disciplined today is because of the experience they got in the past. Many have gambled with observing these rules which also lead them to making numerous mistakes. Furthermore, I equally believe their are gamblers who observe these rules starting from when they started gambling, but gamblers in this category are very few. Observing these gambling rules is very important because failure to really observe them will cause you more harm than good, because you will begin to chase losses, not able to manage your time, and money very well. So it is important to observe these gambling rules to save yourself from devastating lost.

[Crypto Library]

Conclusively, experience  teaches lessons that advice can’t teach, many gamblers understand the rules but they don’t understand the value of those rules until they pay the price of ignoring them. My question is that, Do you guys think gamblers can learn risk management without them experiencing a loss or personal experience is the best teacher when it comes to gambling?

I definitely think that a gambler can gamble responsibly without facing any big losses. I myself have never faced any big losses in my life that were beyond my ability to lose. Even from the beginning, I have done some stupid things myself but they were within my ability to lose. Actually, I don't think it takes much to master this thing. It is possible if someone just lowers their expectations from gambling. For example, in my case, I think that I will face losses most of the time in gambling, so it is better for me to always keep my gambling amount small because a small loss will not give me any stress and at the same time will not put me in a financial crisis.

[Maslate]

From my own perspective, gamblers can easily learn risk management but knowing when to apply it is something that these gamblers will not be very sure of, until a big loss happens, that becomes a life-changer and immediately start valuing the essence of taking proper risk management.

But after winning big again, and still hope that it could be happening after more bets, these gamblers will again ignore the risk, and eventually repeat the pattern the moment they start to incur another big loss again.

[CryptoHeadlineNews]

Many gamblers knows all the advice that people gives them. They know about bankroll management, setting limits, avoiding chasing after losses, and self control. But the truth is that many gamblers don’t take all those things serious until they experience a painful loss. When a person  wins or lose only little amount of money, they usually believe that everything is under control. Because of this confidence, they will start increasing their stake, neglect warning signs and take bigger risks.

The truth is that, risk doesn’t show itself immediately. A person may make several careless bets and still end up winning. This can make a person believe that they’re making a good decision, whereas it’s luck that Favor’s him. But once they encounter one big loss, that’s when reality show up. It’s at that time many gamblers start to understand the importance of emotional control, discipline, and bankroll management. Some people even discover that the money they have lose in one bad day can wipe out weeks or months of previous winnings.

Conclusively, experience  teaches lessons that advice can’t teach, many gamblers understand the rules but they don’t understand the value of those rules until they pay the price of ignoring them. My question is that, Do you guys think gamblers can learn risk management without them experiencing a loss or personal experience is the best teacher when it comes to gambling?

Risk management is a special technical skill anybody can learn and master it, not minding if you are either a gambler or not, as long as you will be face with a situation where you will need to access, analyze and and determine the level of risk associated with either an item or activity.
However, the hope of getting lucky while gambling is actually one of the major reasons that usually prompts gamblers to keep gambling, despite knowing the risk involved and even after losing a huge sum of money. Simply because they believe that the longer they play, the more chance they stand to hit a jackpot. And for that reason, some gamblers won't mind chasing losses until they exhaust their account balances. So in a nutshell, it's not that people who gamble in this manner don't know the risk, but due to greed, they chase the unrealistic, while forgetting the importance of the available funds they have yet.

[Accardo]

Experience is good, but reflection is what makes it a lesson, in my opinion. Learning from experience, if a gambler cannot or refuse to learn from he's or her past mistakes,  even years of having gambling experience can not help that individual stay safe.

Upbringing matters, players who lack value, concentration, and control, suffer many losses in gaming, they also careless about changes pertaining to gaming problems. Years spent gambling matters too, for stubborn and confused players, the longer their disorder lingers the harder it is to be out of the habit of denying attention or limitations to losing challenges. Likewise, refusing responsibility at the start of a gaming journey, brings the inability to get responsible until the end of the race for most players.

[Questat]

Nothing goes right until something goes wrong for you, you have to make mistakes to learn. This is very true for many gamblers as they won't see the real value of any risk until they experience something very bad like losing a huge amount of funds.

After losing, that is the time they start to reflect the things they have done why they have to endure such losses first before they start learning from it. Ignoring risk in gambling is never new to us, until we experience failure and losses and learn from that bad experiences.

[uneng]

From my personal experience, I can say that they ignore risks, because they believe to be immune to them, due to past positive outcomes which ensured profit so far.

The more you profit from gambling, more confident you feel, until the point of feeling invencible. The gambler is aware about the existence of the risk, but at same time, he has the perception it's too far from his reality.

It's only when he faces the loss that the shock of reality takes place, and then he has to realize risks aren't only present all the time, but have also made a big mess already.

[Mia Chloe]

~snip

The fact is it's very easy to be naive when you are actually losing and it's like a hopeful kind of mentality people usually develop by default in other for them to avoid accepting loses. It's not really much of a bad thing so long you are not losing more than number which implies you shouldn't be betting above your limit.

Ignoring risk generally is bad that's why it's important for you to access if it's ok for you to lose that amount of not if you're always stuck on thinking about profits only you're gonna be losing way more than normal.

[Japinat]

It could be an illusion of control because most of the gamblers still think that their personal strategies or lucky streaks will still give them an edge and make them win over its house edge. They will continue adapting this kind of mindset until a massive loss happens and harm their finances.

Also, it could be because of easy money memory. Winning in their previous bets seems very easy, and that made them to think that winning is never really hard, until they come to experience losing something big, they may forget that memory temporarily but after hitting another big win, they will be motivated to do the same thing again.

[Onyeeze]

Gamblers know everything people are giving them they advice for but the thing is that most of us who is into gambling is addicted in gambling and that is why you see many of us that into gambling that lose often it is because we don't seek to advice and we don't enforce what other people advise us to do into our gambling pattern, do you know that there is no strategies that someone will use in gambling that have not been treated in this forum, but that does not stop many people to be greedy and they also to lack some knowledge in participating in gambling, what's some of us need in gambling is to have a gambling class so that before then Gamble you will continue shouting and telling them what to do

[Su-asa]

They ignore the risks because they think that they have a chance of winning, the topic of gambling responsibly is been talked about I'm different ways and a lot of people still do what their curiosity tells them to do. No matter how we preach on this we are always going to have people that continue making the same mistakes. They only stop when they end up incurring lots of losses. It is wise to make adjustments before you end up losing reasonable amounts of money, this is why it's important for gamblers to be disciplined.

[ColdLava40]

Conclusively, experience  teaches lessons that advice can’t teach, many gamblers understand the rules but they don’t understand the value of those rules until they pay the price of ignoring them. My question is that, Do you guys think gamblers can learn risk management without them experiencing a loss or personal experience is the best teacher when it comes to gambling?

Like you said experience remains the best teacher. Some people can learn without experiencing the bad side, they just need to understand what to do. Some learns only by being in the shoes so they get experiences on how to handle any future risk.

It's gambling, risk is the main reason we are all here. But don't take uncalculated risk. You could o!at by the rules and still end up losing, but that doesn't mean the rules should be broken.

They are created to help you through your gambling journey. It doesn't matter how dubious they should following simply risk management plans is a good way in gambling.