Lessons learned while gambling

[tread93]

Seeking out the very seasoned and experienced gamblers in this forum to use this space as an opportunity to educate the masses and share your two satoshis on the subject of gambling lessons learned.

My two are pretty simple but hard to practice and that is quit while youre ahead. Cash out and slow down once you have won. Take a break and relish the win. The second lesson is to make sure you have established with yourself a budget for the night week month etc etc. And stick to that budget or else you may lose immensely.  Have a plan and keep it!

Your turn....

[ruykeri]

You have said an important point. When a gambler is consistently making profit, more greed is created and if he can stop that emotion and refrain from gambling or stop it for that day, then he will have a positive habit. Even when he keeps losing, he will not decide to bet aggressively to cover the loss, but he will be able to stop betting while remaining within the limit of the loss he can tolerate. The main purpose here is to be able to control emotions. If you can control yourself in any situation, then the amount of loss in betting can be reduced to a great extent. And making a profit is a matter of luck. And in this case, for the purpose of what you said about the fund limit, I will say that the amount of money that a person is willing to spend on his entertainment such as watching movies, going somewhere or spending a good time with friends is spent for his entertainment. That amount of budget can be kept for betting. Betting with the intention of making consistent profits or getting rich overnight is likely to result in financial losses.

[cocadalcan]

Seeking out the very seasoned and experienced gamblers in this forum to use this space as an opportunity to educate the masses and share your two satoshis on the subject of gambling lessons learned.

My two are pretty simple but hard to practice and that is quit while youre ahead. Cash out and slow down once you have won. Take a break and relish the win. The second lesson is to make sure you have established with yourself a budget for the night week month etc etc. And stick to that budget or else you may lose immensely.  Have a plan and keep it!

Your turn....

You are right. The lesson you have highlighted is easy to say but very difficult to put into practice.

It is very difficult for a gambler to take a break while winning because there is a psychological game going on at that time of expecting more wins. More wins and recovering previous losses. It is even more difficult for gamblers to stop playing when they win twice in a row and they consider themselves lucky for that day.

One way to stop gambling is to withdraw the winnings and buy or enjoy some asset. Setting a budget and practicing the discipline of not going beyond that budget can help you take a break from gambling.

Quick and emotional decisions are one of the reasons why you lose bets. Stop gambling while you have some money left in your budget and focus on your productive work. Always remember that gambling is for entertainment, not for making money.

[el che]

Here are my two satoshis on the lessons I have picked up over the years.
First off, keep the booze away, a beer or two while you're playing is fine for relaxation, though strictly speaking even that isn't recommended if you want peak focus, but getting properly drunk while gambling is basically a voluntary donation to the casino. When the alcohol starts making the decisions, you stop playing the game and the game starts playing you.
Second, pay attention to your mood because the universe seems to have a weird sense of humor about it. If you are having a bad day, stay far away from the tables or the slots. Call it karma, energy or just bad mojo, but there is definitely a connection there. Every single one of my biggest and most memorable wins came on days when I was already in a fantastic mood and feeling super happy before I even started playing. On the flip side, whenever I gambled while pissed off or down in the dumps, I lost every single time.
Lastly, never, ever chase your losses. When you hit the limit you originally budgeted for the session, close the tab, step away and call it a day. The casino will still be there tomorrow. If you try to aggressively double down to recover what you just lost, you won't recover it, you will just keep leaking money until there is nothing left to leak!

[bisdak40]

Seeking out the very seasoned and experienced gamblers in this forum to use this space as an opportunity to educate the masses and share your two satoshis on the subject of gambling lessons learned.

My two are pretty simple but hard to practice and that is quit while youre ahead. Cash out and slow down once you have won. Take a break and relish the win. The second lesson is to make sure you have established with yourself a budget for the night week month etc etc. And stick to that budget or else you may lose immensely.  Have a plan and keep it!

Your turn....

The bolded sentence is what i'm working on right now. Have done this for a few months already and i could say that i'm slowly getting the discipline but there are just times when it is very hard to walk away when you already have lost your budget for the day knowing that you still got some money in our wallets. But it you can have that discipline to walk away from a loss or even in a winning moment then i think you are be called a responsible gambler already.

One lesson i've learned in gambling is that no matter how much to have win, it will go back to the bookies if you won't set a limit on your winnings as you will lose in the long run.

[Oasisman]

It's always been "gamble what you can afford to lose". This has always been the most valuable lesson to learn when gambling. This applies to both experienced and new to gambling, and this will keep you from keeping gambling at the entertainment level, rather than treating it as money making machine.

Learning how to find a good value in your bets is one of the best lesson as well. This is for you to sustain long term betting without incurring more losses. The more losses you have means the more often you need to refill your balance, and that's not a good bankroll management.

[Yablee0]

Lastly, never, ever chase your losses. When you hit the limit you originally budgeted for the session, close the tab, step away and call it a day. The casino will still be there tomorrow. If you try to aggressively double down to recover what you just lost, you won't recover it, you will just keep leaking money until there is nothing left to leak!

These part is one of a kind. However, this is where gambler's should pay much attention to because their is no way you can eat your cake and at the same time have it back, it's not possible.  Once your bankroll is exhausted for that very day just let it be otherwise pressing further will only cost you more pain than gain. Furthermore, as a gambler having this mentality that nothing is sure, that you can either lost or win will help us significantly even before venturing into gamble. However, some of the reasons people decide to chase their lost in gambling is that most of the gamblers believe that accepting lost or defeat is normally a sign of weakness and by chasing lost to recover back their lost funds is what makes them brave and champion's, which is not true. It's time we do what's right so we won't learn some hard lessons.

[fruktik]

Many years ago, I learned this lesson: If I can't enjoy my winnings, then it was all for nothing. So, if I win, I try to withdraw all the money, or at least most of it. I know full well that there might be nothing left of it. I need to enjoy it.

What else? Always read the casino's information if you're new to the site. It's worth taking the time to learn all the details from other players. This will help you avoid serious problems in the future.

[OgNasty]

I think the most important lesson you can learn from gambling is that it is something people do for entertainment purposes and not a form of employment. Once you’ve learned that, you can enjoy the time and money you spend gambling instead of being constantly disappointed that you didn’t get life changing money.

[fruktik]

You have said an important point. When a gambler is consistently making profit, more greed is created and if he can stop that emotion and refrain from gambling or stop it for that day, then he will have a positive habit. Even when he keeps losing, he will not decide to bet aggressively to cover the loss, but he will be able to stop betting while remaining within the limit of the loss he can tolerate. The main purpose here is to be able to control emotions. If you can control yourself in any situation, then the amount of loss in betting can be reduced to a great extent. And making a profit is a matter of luck. And in this case, for the purpose of what you said about the fund limit, I will say that the amount of money that a person is willing to spend on his entertainment such as watching movies, going somewhere or spending a good time with friends is spent for his entertainment. That amount of budget can be kept for betting. Betting with the intention of making consistent profits or getting rich overnight is likely to result in financial losses.

I remember many years ago, when I was constantly gambling away my entire salary. I was in a bad mood and would lash out at my friends with insults. It was disgusting behavior on my part. I didn't even realize it was causing pain and suffering. I didn't care. Gradually, it became a regular occurrence. Sooner or later, it was bound to happen: my friends started to distance themselves from me. Why would they take my anger and negativity in their stride? So, in the end, I was practically left alone with myself. Only then did I begin to realize that I was doing something wrong and that it was time for me to choose a different path.

[DabsPoorVersion]

Seeking out the very seasoned and experienced gamblers in this forum to use this space as an opportunity to educate the masses and share your two satoshis on the subject of gambling lessons learned.

My two are pretty simple but hard to practice and that is quit while youre ahead. Cash out and slow down once you have won. Take a break and relish the win. The second lesson is to make sure you have established with yourself a budget for the night week month etc etc. And stick to that budget or else you may lose immensely.  Have a plan and keep it!

Your turn....

Staying sober and clear headed, an underrated condition but is crucial in gambling. If you are under the influenced in alcohol, dr*gs, or even simple exhaustion will make you unable to think rationally. For a gambler to keep in control, you need to be in the right mind and emotionally stable, not in any under influence of anything that clouds our thinking.

The second one is to learn to accept that having enough is already a win. Where every win or even a small profit is far better than to continue playing until the house takes back what you have won. Walking away with enough money in your pocket is better than chasing more profit and ends up losing at the end of the day.

[AprilioMP]

What I understand—and what I use as a guiding principle in gambling—is that it’s all just a game. In every game, winning and losing are inevitable. Beyond that, it depends on how well I manage my time while playing. Besides, since it’s a game meant for entertainment, that means I have to know when it’s time to stop for my own sake.
To be honest, I’m not interested in giving advice to others because I’m afraid I’ll end up being held responsible.

[Chinesebaby]

Seeking out the very seasoned and experienced gamblers in this forum to use this space as an opportunity to educate the masses and share your two satoshis on the subject of gambling lessons learned.

My two are pretty simple but hard to practice and that is quit while youre ahead. Cash out and slow down once you have won. Take a break and relish the win. The second lesson is to make sure you have established with yourself a budget for the night week month etc etc. And stick to that budget or else you may lose immensely.  Have a plan and keep it!

Your turn....

For me, what I have learnt so far about gambling is the fact that in gambling, profits is never guaranteed, and as a result of that, it's wise to gamble wisely or responsibly, knowing fully well that you may or may not recover that amount you intend to use for gambling, be it either betting on a Sport game or playing slots. Both has their different risk level. While secondly, another thing I have learnt so far from gambling is that it exposes you to learning about risk management and knowing how not to get carried away when you gamble responsibly.

[BRINIRHA]

It becomes 2 good points because so far most gamblers always lose in trying to limit regardless of the limit of money in play where their gambling budget is erratic or the limit of their time in play especially when they get a victory then they like to fall asleep preformance euphoria.

What I want to add here is not easily distracted by some things because I can see some gamblers are still always distracted by some things including drinks or other things that make their focus destroyed in gambling and not a few gamblers have to lose their money unknowingly just because they gamble while drunk.

This should be minimized because even though it is an option but I think gambling while drunk it will cause much greater damage because we can lose without realizing it.

[Cityhunter34]

Seeking out the very seasoned and experienced gamblers in this forum to use this space as an opportunity to educate the masses and share your two satoshis on the subject of gambling lessons learned.

My two are pretty simple but hard to practice and that is quit while youre ahead. Cash out and slow down once you have won. Take a break and relish the win. The second lesson is to make sure you have established with yourself a budget for the night week month etc etc. And stick to that budget or else you may lose immensely.  Have a plan and keep it!

Your turn....

Gambling would have been entirely enjoyable if we were be able to follow this approach. But as you can see, it is very simple to say, but doing it consistently becomes a very big deal for many gamblers. Honestly, I think we are big enough to know that gambling depends on luck, because till now many gamblers don't usually have time to take a break from gambling. They always have this feeling that they are going to become rich overnight in gambling.

Knowing when to stop and call it a day without any double thought is absolutely the best way to make things easier when gambling. Nothing more than that at all.

[Zadicar]

Seeking out the very seasoned and experienced gamblers in this forum to use this space as an opportunity to educate the masses and share your two satoshis on the subject of gambling lessons learned.

My two are pretty simple but hard to practice and that is quit while youre ahead. Cash out and slow down once you have won. Take a break and relish the win. The second lesson is to make sure you have established with yourself a budget for the night week month etc etc. And stick to that budget or else you may lose immensely.  Have a plan and keep it!

Your turn....

Lesson learned?

No matter how hard you do thrive to win, there's no such shortcut, exploit or ways on beating up the system or even thinking on beating up the house. Luck would be always the main determiner whether you would be making some money on gambling or not. Thing here is that you should really be that only playing for the sake of fun and entertainment and never ever go beyond with those kind of thinking that you can get rich with gambling. Somewhat its easy to say but majority of gamblers will definitely go into the common path on which they would really be having that different approach instead and making up those realizations but the damage has already been done or already that make you lose tons of money on which means that regret would be always at the end. What matter most on here is that you do learn from that and be wary on next time you do deal with it.

[Kelward]

I guess my biggest lesson in gambling would be that people shouldn't see gambling as where they are guaranteed to get rich in, winnings are by luck not necessarily your skills in the case of sports bet, if you're not lucky to win big you cannot be rich through gambling. Winning big that will make you rich is possible but if you're not a disciplined gambler you will likely be greedy and lose everything back to the casino in the process of trying to increase your win. It is best to take gambling as an entertainment and use amount that you can easily give away to gamble so that if you lose it you wouldn't be heartbroken. Never chase loses and don't be overconfident because you can lose all your wins.

[swogerino]

Seeking out the very seasoned and experienced gamblers in this forum to use this space as an opportunity to educate the masses and share your two satoshis on the subject of gambling lessons learned.

My two are pretty simple but hard to practice and that is quit while youre ahead. Cash out and slow down once you have won. Take a break and relish the win. The second lesson is to make sure you have established with yourself a budget for the night week month etc etc. And stick to that budget or else you may lose immensely.  Have a plan and keep it!

Your turn....

That first lesson you say I have been asking AI and sharing some details with it like I have won after a long time of not gambling and AI response was that of a genius, "this is the biggest trap gambling can push you in, this because you will think that will happen again that you will win easily when there are no guarantees to it" and for me that pretty sums it up all. Winning is the biggest trap one person can fall in as one win can destroy peaceful years ahead by making you addicted.

[Nrcewker]

Your turn....

The best advice I can give is to gamble only when you are confident about your bet. This means that if you believe a team has a higher chance of winning a match and you are confident in your prediction, then place your bet on that team. Regardless of the odds you are getting focus only on bets where you genuinely believe the outcome is highly likely winnable.

Another piece of advice is to place bets only on sports matches and avoid casino games. Gambling is largely a game of luck, so you should minimise situations where luck is the primary factor. Follow these two pieces of advice and you will start seeing small but steady profits over time.

[Tungbulu]

One amongst several lessons I’ve learned while gambling is something that may be very common or known (but not really practiced) by many, and that is, never expect to win anything from gambling. You may wish to win, which is fine and okay, but expecting to win is a totally different thing, and it can easily lead to disappointment. Yes, every gambler expects to win when they gamble, but we know that this rarely happens for most people, and since this isn’t something you can control, it’s better to hope for the best but expect the worst, so even if you eventually win, it’ll come as a good surprise for you.