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Why most people loss in gambling?

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6 minutes ago, ScooterPi said:

Not only do I nearly always have decent (or even big!) wins - but I also nearly always lose soon after. 

I am not wealthy by any means - but I think that the biggest reason is simply emotion, as you all mentioned above. 

I wouldn't call it greed, in my case. But the thrill of getting a winning streak is sooooooo fun! The temptation to see how far the limit can be pushed always overpowers the reality that it's better to withdraw and come back another day. 

Such is the gambling hobby.....some days we stick to the plan. But most days we do not. 😋

Totally, the thrill and excitement while winning is so powerful that we want it to last it forever and always avoid making the wise choice even though we know the outcome too. :)

If gamblers stick to plan all casinos will go broke :D 

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45 minutes ago, amarcrypto said:

Totally, the thrill and excitement while winning is so powerful that we want it to last it forever and always avoid making the wise choice even though we know the outcome too. :)

If gamblers stick to plan all casinos will go broke :D 

Hmmmmm, amarcrypto - this is a good point.  

Maybe I can try to overpower that reaction, and have a plan in place. 

I was thinking.......perhaps giving yourself a percentage gain point, at which you withdraw those winnings? 

With a promise to yourself that you can retain a portion to play onward.

That might work well, as the biggest problem after a big win seems to be the increase in bet size coupled with a losing streak. 

 

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2 minutes ago, ScooterPi said:

I was thinking.......perhaps giving yourself a percentage gain point, at which you withdraw those winnings? 

With a promise to yourself that you can retain a portion to play onward.

That might work well, as the biggest problem after a big win seems to be the increase in bet size coupled with a losing streak. 

 

Yes, a certain percentage gain point and withdrawing once hitting it is a wise choice.

The best way to overcome the problem is just sticking with the same play style that worked before. Slowly letting the winnings collect and only increasing bet size after reaching at least 5 times the initial bankroll in profit with of course proper risk management.

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1 minute ago, ScooterPi said:

I'm going to try this out for the next few days.  Thanks!!

You know of any web resources that talk about this type of strategy? It's easier for me to stick to a plan if I understand it very well. 

Welcome, almost everything you need to work out a perfect plan is available at my blog ( smartgamblingedge.com ) If you have any doubts feel free to message :)

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2 hours ago, amarcrypto said:

Welcome, almost everything you need to work out a perfect plan is available at my blog ( smartgamblingedge.com ) If you have any doubts feel free to message :)

Interesting, I shall head over and check out the said strategies too. Thanks for providing the resources. ;)

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5 minutes ago, BLXN said:

one of the issues is that the gambling here is digital, and basically only within your mind- which is set against a very advanced computer, of what caliber I have no fathom - but considering the calculations implied by the number of bets being made per second, and the complexity of SHA-256 cryptographic security, one can safely assume it is worth a few bitcoin. xD :s So, that is why most people lose in gambling, and even the best -- ref: blockbet lol :( -- will go down, and go down in flames. This is a money making machine - we can't compete with it, although, with very prudent management of your resources, and perhaps a great lowering of expectation, you may see profit over time. If you can find your opening, and make a big bet successfully, consider that the success of the night; withdraw, and start again from a small amount - don't overreach, don't overestimate your skills, or underestimate the House - you can't calculate your edge as quickly, or as efficiently, or as accurately, everrrr, as the processors of the server, and over time, you will lose , and badly. xD good luck, my pretties 

A most fascinating moderately lengthy input @BLXN. 😛

I guess in a nutshell it is to know your limits and know when to cash out also take risks in a reasonable manner.

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8 hours ago, BLXN said:

one of the issues is that the gambling here is digital, and basically only within your mind- which is set against a very advanced computer, of what caliber I have no fathom - but considering the calculations implied by the number of bets being made per second, and the complexity of SHA-256 cryptographic security, one can safely assume it is worth a few bitcoin. xD :s So, that is why most people lose in gambling, and even the best -- ref: blockbet lol :( -- will go down, and go down in flames. This is a money making machine - we can't compete with it, although, with very prudent management of your resources, and perhaps a great lowering of expectation, you may see profit over time. If you can find your opening, and make a big bet successfully, consider that the success of the night; withdraw, and start again from a small amount - don't overreach, don't overestimate your skills, or underestimate the House - you can't calculate your edge as quickly, or as efficiently, or as accurately, everrrr, as the processors of the server, and over time, you will lose , and badly. xD good luck, my pretties 

Lol ppp :D Indeed the algorithms are most out of anyone calibre, the safest choice is to lower expectations and keep grinding. If you build your bankroll to good amounts, you can always have a good fight against the algorithm. Good luck to you too. :)

9 hours ago, Etude said:

Interesting, I shall head over and check out the said strategies too. Thanks for providing the resources. ;)

Welcome lots of ideas, guides and strategies are already there :)

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You missed something very important! 

Gamblers Fallacies!  ". . .belief that, if something happens more frequently than normal during a given period, it will happen less frequently in the future (or vice versa)" - Wikipedia

This flawed way of thinking during betting can be catastrophic! It makes it easier to bet carelessly or impulsively because of persuasive feelings reassuring you of an outcome. 

  • Anything can happen! Green streaks red streaks on any payout! The possibilities are endless and not affected by previous bets. 
  • Do not lower your guard no matter what you see.
  • Stay thinking, avoid feeling! Impulse and carelessness are your enemies!
  • Do not lose control, if you find yourself losing control then its time for a Break! The more tired, sleepy, or hungry you get the weaker your mind will be leaving your mind susceptible to emotions and feelings. One small trigger is all it takes for you to just lose focus, and start betting recklessly.  Why do you think pilnko balls fall the way they do?

Honestly i do not even think casino's need a house edge to make profit. The vulnerabilities and weaknesses in humans alone i think would be enough to profit from. Relying on the flaws and tendencies in human nature. Greed, selfishness, foolishness, impulse, and emotions all cloud the mind making anyone of little threat to the casino. If your wanting to profit, then bet with a sharp, clear, and fortified mind starting with your health, then your mindset. 

Even if your playing just to have fun, taking these things into consideration will ensure you have the longest and best quality entertainment playtime. Losing is never fun, right?

 

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The main reason is emotions, in particular, greed and thrill of the competition. Unfortunately, it is hard if not possible to control emotions. It requires long work on yourself. I think the percent of people who make a profit on gambling is around 1% or even less. Never overestimate your skills, and never underestimate the house.

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They mostly lose because of the house edge, and alot of times when you are betting with low amounts you feel like you are winning every time, and as soon as you do a higher bet you lose it all. Some people are too greedy which makes them always keep betting to  win more and make back their losses

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I get greedy and let my emotions bet for me a lot of the time, I always get and and freak out then start betting huge amounts until I either get a big win or bust. I always say I won't end up doing that but that's how it is most of the time.

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i actually thought of a better one...
                                                                                                                                        
Most people lose at gambling because: nothing ever good came from gambling =P

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@blueprints Thanks for the valuable suggestions. Added gambling fallacies too in the main post :)

15 hours ago, Shaniqua said:

i actually thought of a better one...
                                                                                                                                        
Most people lose at gambling because: nothing ever good came from gambling =P

:D That's a good point.

16 hours ago, SovietDoggo said:

I get greedy and let my emotions bet for me a lot of the time, I always get and and freak out then start betting huge amounts until I either get a big win or bust. I always say I won't end up doing that but that's how it is most of the time.

Its best not to get greedy :) Hope this helps out - Controlling greed while gambling.

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Hello, well i guess because people gambling like ''monkeys'', most of us after having a good strategy by betting low and aimming high going greedy after soem profits and then busting all of it. One more problem is the PM's when you post a winning bet in the public chat( reffering to stake). Usually we bust by aimming high but many times we bust by aimming low with high base bet which is kinda dump.

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Umm, people lose im gambling because not everyone can be winners.. thats the most obvious one., two.. people lose because they bet carelessly by going all in... three.. people lose because they do not have enough balance to survive the reds streaks which are inevitable... four.. people lose because they fall asleep when playing auto bet and eventually their balance got depleted... yes i have lossed this way hahahaha.. but ya.. emotional, chasing loses, ect ect.

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Hello, there are many facts that makes most people losing while gambling, such as: 

Money Management

The number one reason most sports gamblers lose isn't because of poor picks but instead is because of poor money management. There are far more bettors who can pick winners than there are who can make money, and money management is the key.Betting $50 on one game and $500 on another is a sure way to find yourself separated from your cash in the long run, just as betting 50-percent of your bankroll on one game will ultimately lead to disaster. A sports bettor may win a few games when betting more than they should, but eventually, the loss, or losses, will come and the bettors end up in trouble.Doubling up after wins or losses is another recipe for disaster, and is a common mistake many bettors make, including those who have been betting for many years.If you've ever read books on sports betting, you'll find that nearly everyone has at least one chapter devoted to money management and that isn't because authors enjoy writing about it. It's because it is that important.

Betting on the Wrong Events

It's no secret that football and basketball are the two sports that receive the majority of the betting dollars, just as it's no secret that most long-time sports bettors will say those are probably the two toughest sports to show a long-term profit in.The sport of choice for most professional gamblers is baseball, which happens to rank well below the top two sports in the amount of money received. Hockey is another sport that many long-time bettors believe can give the sports gambler an advantage over the sportsbook, but hockey nets less than even baseball.A sports bettor doesn't have to particularly like baseball or hockey. As long as they like money, those are two sports that should be followed, or at least find somebody who is a good baseball or hockey handicapper and follow their plays.

Lack of Knowledge

Most sports bettors know just enough to make them dangerous, as there is a great deal of difference between being knowledgeable in the NFL and being knowledgeable in NFL betting. Being able to name the starting offensive line for the Dallas Cowboys isn't likely to help a person win a bet.What many sports bettors don't realize is that they're actually competing against other bettors who spend countless hours on handicapping, studying trends, injuries, and betting angles.If you don't have the time to study the games try to find somebody who does, whether it be on a posting forum, a reputable sports service, etc., but don't assume you know more than everyone else.There is the old joke of a sports bettor who loses week after week, and finally, his bookie starts to feel sorry for the guy and suggests that he might want to try betting hockey."Hockey! I don't know anything about hockey!"

Casino Betting

This is a relatively new one for sports bettors to deal with, as many online sportsbooks now have casino-style gaming, which is too much for some sports bettors, including some very good sports bettors, to walk away from. It's not unheard of for a solid sports bettor to generally show a profit each week, but give that money back, plus a little extra, playing the casino games their sportsbooks offer.There's always the legitimacy of online casinos to worry about, as well. It's one thing to be at a blackjack table and see the dealer draw a 5 to their 16 to beat your 20, but it's a bit different when it takes place online.It's easy to see the allure. Why try to grind out a small profit betting sports, when you can hit a Royal Flush playing video poker and quickly win $1,000 or $4,000? If this is a problem for you try e-mailing the sportsbook and ask them to block you from their casino. There isn't any one key to becoming a winning sports bettor, but those who practice money management, put in some time, and practice discipline, are generally a step above the majority of bettors.

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Most people lose in gambling because of their mentality. When you think about gambling you think that the odds are against you and in most of the parts that is true. But think that the house edge is only 1-2% so at least 98% of the amounts people gamble are offered back in winnings. There is so much available to win but you still think it's so hard to win. A lot of people lose in gambling so why wouldn't you be the one who takes all of those loses and turn them into a big win? Gambling is a game of luck but keep in mind that you create your own luck. 

Most people lose in gambling because of their mentality. When you think about gambling you think that the odds are against you and in most of the parts that is true. But think that the house edge is only 1-2% so at least 98% of the amounts people gamble are offered back in winnings. There is so much available to win but you still think it's so hard to win. A lot of people lose in gambling so why wouldn't you be the one who takes all of those loses and turn them into a big win? Gambling is a game of luck but keep in mind that you create your own luck. 

Most people lose in gambling because of their mentality. When you think about gambling you think that the odds are against you and in most of the parts that is true. But think that the house edge is only 1-2% so at least 98% of the amounts people gamble are offered back in winnings. There is so much available to win but you still think it's so hard to win. A lot of people lose in gambling so why wouldn't you be the one who takes all of those loses and turn them into a big win? Gambling is a game of luck but keep in mind that you create your own luck. 

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