Lessons learned while gambling

[Yabani]

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....

There is no one capable of doing what you are describing. Even the most experienced gambler cannot pull it off.
This isn't unique to gambling. Crypto markets aren't exactly favorable these days. Sometimes you catch a coin that doubles or triples in price, but you don't sell because you think it will go even higher—and then it crashes.
By that logic, I should have sold that coin when it doubled, but I didn't.
Very few people are capable of doing the things you're talking about.
It is also worth noting that in gambling, what you win today, you give back tomorrow.
The house always wins.

[Olatundespo]

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....

According to the two teachings you mentioned, if a gambler can practice, the amount of his losses in gambling will be greatly reduced. If gamblers cannot follow these two teachings correctly, the amount of losses increases and many gamblers become addicted.

Whether you gamble for the purpose of making money or for entertainment, it will not be destructive for you if you have a fixed and limited budget allocated. If you can develop the habit of stopping gambling at any stage of winning or losing, the amount of losses can be reduced to a great extent.

Setting a budget is a strategy for controlling emotions. You cannot gamble beyond the amount of budget you allocate in a week, that is, you cannot exceed the budget. You must strictly follow your bankroll if you do not want to become an addicted gambler.

[Charcol]

But the problem is that most gamblers cannot accept this. They become more confident after winning big. Then instead of enjoying it, they bet more and hope to win big again. Both of your points are realistic. But some people want to set a budget or some people may start setting a budget again after losing it. Because their gambling behavior has become more like an addiction. You are right that after winning big, you should take a break to enjoy it. But unfortunately, after winning big, some people think that their luck is good today and they will win again.

[Charles-Tim]

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!

But do you know that these do not guarantee winning? Although, they are good advises but gamblers should know that they can win or lose at anytime. I am not a frequent gambler, but in overall this year, I am losing, although it is an amount that I can afford to lose.

One thing I like about patient gamblers is that regardless of winning or losing, they stil make the right decision. Winning or losses does not change the amount of time I use to gamble.

[Emitdama]

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!

There were 100s of similar plans that I had but nothing helped me to avoid frustrations in the end. I mean, when you are surrounded by emotions, you will surely fail to follow all the lessons and will just follow your emotions alone. Fortunately or unfortunately, every gambling session teaches some lesson but most gamblers  do forget them while getting into a new session. So, there would be lots of lesson but nothing work in a way to avoid frustrations which is the point why people keep on struggling and losing even after lots of advices and warning against gambling.

Gambling cannot be turned into profits just by following own lessons or other's. It would require lots of patience and practice to make gambling to work in our way which is highly impossible and with that reason many gamblers, with just luck factor, consoling themselves but keep trying even by not bothering any lesson.

[Son Of Blockchain (SOB)]

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....

According to the two teachings you mentioned, if a gambler can practice, the amount of his losses in gambling will be greatly reduced. If gamblers cannot follow these two teachings correctly, the amount of losses increases and many gamblers become addicted.

Whether you gamble for the purpose of making money or for entertainment, it will not be destructive for you if you have a fixed and limited budget allocated. If you can develop the habit of stopping gambling at any stage of winning or losing, the amount of losses can be reduced to a great extent.

Setting a budget is a strategy for controlling emotions. You cannot gamble beyond the amount of budget you allocate in a week, that is, you cannot exceed the budget. You must strictly follow your bankroll if you do not want to become an addicted gambler.

I try best to be responsible but at some point I tend to be greedy and bet beyond my budget, it mostly turned out bad and makes me regret but ever since i took strict measures to gamble within my budget and avoid greed I've never been a sad gambler, there's still lose but I don't regret cause i bet within my budget.
 That's why i support the OP's second advice of sticking to budget cause I've experienced the consequences of betting beyond budget, the pain is far beyond loses and hits hard that one might start lose chasing.

[viljy]

In short, there are several principles that can be followed. It is preferable to gamble and/or place bets on favorable days (according to the horoscope). Do not exceed the limits of the initial bankroll. Withdraw winnings immediately, rather than keep trying to win even more. Take breaks between your gaming sessions, even regardless of whether you've won or lost before. That is, to control the time devoted to gambling (this time should not constantly grow).

[LastKiss]

~snip~
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....

Reading the casino terms and conditions before using the platform is very important. All the winnings can become useless if we're not able to play comfortably because we overlooked basic requirements such as deposit and withdrawal rules, KYC requirements, licensing and other important policies.

Many people forget to check these basic terms and rush to sign up as soon as they see a tempting promotion. In the end they let their greed and carelessness take over instead of carefully picking a trustworthy casino to play. A lesson I got from the past when I skipped that simple things where I lost my funds because a very high wager requirement.

[Cossyblack]

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....

This is a are very good advices,one lesson I have learn over the years that I have been gambling is that you shouldn't use cash that you save for your essentials expensive to gamble. I believe a lot of gambler are doing this which is why some of them appear broke and unkept because the money that was supposed to take care of their needs has been Lost in gambling. This is why a gambler shouldn't gamble from his income because it will surely reflect on his physical appearance since he cannot to take care of himself properly. So Before anyone should think of to gamble, they should ensure that all of theirs basic needs have been covered.  

[Bigjoe33]

But the problem is that most gamblers cannot accept this. They become more confident after winning big. Then instead of enjoying it, they bet more and hope to win big again. Both of your points are realistic. But some people want to set a budget or some people may start setting a budget again after losing it. Because their gambling behavior has become more like an addiction. You are right that after winning big, you should take a break to enjoy it. But unfortunately, after winning big, some people think that their luck is good today and they will win again.

Well, that's some people and never me. That point of his is my reality, because I know that winning isn't expertise, but luck, and so, when I eventually win, and maybe win big, I do well to ensure that I enjoy my winnings and it's dividence and not give it back to the same casino that I got it from after so many loses.

It's always best to stay away for a while after a winning so that nothing makes me spend all of them back again. Winning is not sure, so if you win, I must calm down. I like that point, because that's what I do.

Secondly, apart from when I win, sometimes I just like to take a break. Sometimes, just rest. Only watch games and relax. Maybe, it will give you time to reflect on your previous losses and how best to calm down and bet properly next time. Sometimes, you don't have to all worked up because you want to gamble. Sometimes, due to our haste and pressure to bet, we make so many mistakes and take wrong decisions. It's okay we just have to take a break sometime. Taking a break too also helps you watch your instincts or drive for betting. You as well control a rise to addiction to take a break

[iv4n]

Maybe we will win, maybe we will lose... we don't know unless we give it a try. And after a zillion tries, countless ups & downs, we learn to deal with both... or not! After all, it's about going with the flow & doing what you enjoy. Just make sure it's something you won't regret later... good luck to all of us! We need it...  

[fredericktaylor]

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....

Absolutely right, gambling must be played with discipline, because if we cannot gamble with discipline, gambling will become a part of our life, which is enough to ruin a gambler. If we want to protect ourselves from losing big money through gambling and enjoy the real fun through gambling and protect ourselves from the destruction of gambling, then we must decide the time and money before starting gambling. Regardless of whether we win or lose through gambling, we must control our emotions and accept the results with a cool head and do not gamble aggressively in the hope of gaining more money or to recover the lost money. Gambling is good by taking the right decisions with patience, as a result of which self-control will be maintained over ourselves and we can protect ourselves from gambling addiction.

I think that making emotional decisions through gambling is a big reason why a gambler loses financially. Greed always leads a person to destruction, and a gambler's greed increases with victory or defeat, so by managing your emotions and greed when gambling, you can protect yourself from the dangers of gambling.

[abaeze]

I would like to tell some people that if you can't meet your family expenses well with your monthly income or If you can't afford to take your family out for a meal, then why do you have to gamble after managing everything with difficulty? why risk your hard earned money on gambling after working so hard to make ends meet?

Actually, the thought you opened the topic with is a matter for a gambler to understand well. If there is no profit from gambling even after being involved in gambling for a long time, then people should understand that the gambler's thinking or plan needs to be changed. Most gamblers do not know in advance what their fate is but continue to gamble beyond their ability, which is not at all appropriate.

Sometimes I think that every gambler has the same thought that "if I could play one more time, I could win" but by then they want to continue betting or gambling beyond their budget but do not think about how they will repay the debt if they lose. So if someone can follow these things, I think anyone can become a controlled gambler.

[OsaiEmma]

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....

These here are valuable lessons. If truly you're practicing them, then a big thumbs up to you. There's nothing as difficult as walking away when you're ahead; immediately, you'll think of regaining all the losses you've accumulated the previous day(s). The crazy thing in all this is that, once you start winning you'll feel like you're in control and this is certainly your day, but that's just an illusion, you've just been caught in a trap that started with the bait of some wins and will end with the loss of all your money.

[Jaweria parveen]

But the problem is that most gamblers cannot accept this. They become more confident after winning big. Then instead of enjoying it, they bet more and hope to win big again. Both of your points are realistic. But some people want to set a budget or some people may start setting a budget again after losing it. Because their gambling behavior has become more like an addiction. You are right that after winning big, you should take a break to enjoy it. But unfortunately, after winning big, some people think that their luck is good today and they will win again.

This is the basic thing that makes a gambler lose money. In gambling, there is this desire that we win as much money as possible and make it easy for ourselves. When someone wins a bet in a game, he thinks that he has found the formula for it, whereas nothing like that happens. It is to control his mind and this thought makes this gambler lose. If he has placed 10 bets in which he has won 4 and lost 6, he should understand from here that not every game is a win. A budget is never made in gambling. If you gamble today, you will earn more and win the next day as well and this will make you feel that you can make your own budget and earn something every day and everyone does and loses in the same way. If you play in this way, you will not lose your mind in gambling either because money is something that puts its power and desired desire in the heart of a person.

[xenomorfo]

Well, that's some people and never me. That point of his is my reality, because I know that winning isn't expertise, but luck, and so, when I eventually win, and maybe win big, I do well to ensure that I enjoy my winnings and it's dividence and not give it back to the same casino that I got it from after so many loses.

It's always best to stay away for a while after a winning so that nothing makes me spend all of them back again. Winning is not sure, so if you win, I must calm down. I like that point, because that's what I do.

Secondly, apart from when I win, sometimes I just like to take a break. Sometimes, just rest. Only watch games and relax. Maybe, it will give you time to reflect on your previous losses and how best to calm down and bet properly next time. Sometimes, you don't have to all worked up because you want to gamble. Sometimes, due to our haste and pressure to bet, we make so many mistakes and take wrong decisions. It's okay we just have to take a break sometime. Taking a break too also helps you watch your instincts or drive for betting. You as well control a rise to addiction to take a break

Luck, exactly. When you win it's a coincidence, it makes the game more beautiful, more exciting, i understand it very well.
However, you don't have a way to push your luck, unfortunately this doesn't exist, it happens but it doesn't happen when you want it and it might never happen at all.

[maydna]

Those two lessons is worth to know but practically, that is difficult to do. How many gamblers can stick to that two basic rules avoiding the problem that can occurs in gambling? But if you can stick to that rules, nothing bad happens, you just want to have fun and if you win, that is a bonus and you will not chase more winning. Setting the fund before gambling is a must so you know how much you can use and prepare for the lose and also follow your rules.

[Sim_card]

OP, you just hit the nail on the head. If only all gamblers will abide to this two rules, we wouldn't see people who are addicted. The problem lies when the gambler is gambling for profit, he will not be able to stick to these rules because he wouldn't be satisfied with his little profit.

[Filicius]

Another lesson that I have learnt in the last years is not only focus in the money you use for gambling, but even more important, in your time and attention while gambling. Because you can be winning and still dedicating too much time and efforts to gambling you should be using somewhere else. The more you gamble, the more prone you’ll be to continue gambling, so set your limits in that sense too.

[bakasabo]

For many people gambling is connected with stress. Under stress, people learn their selves better. In stressful situation people learn how good they are at stress management, how good they are able to manage their finances and how they self-control they have. I think gambling helps people to look on themselves from different angle. People learn if they are greedy, persistent.