Quote from: slapper on November 16, 2023, 03:43:49 PM

You've made an important point about the dangerous route of trying to recover losses. This is the "sunk cost fallacy", a typical behavioral trap that is ingrained in our minds. This misconception prevents bettors from putting good money after poor in an attempt to recover losses. They frequently fail to see the long-term risks because of the short-lived thrill of victory

Conversely, you offer wise counsel in resigning while ahead. It's difficult, though, because of the "winner's high," a psychological condition in which an imaginary feeling of invincibility is fueled by previous success. Discipline and a predetermined escape strategy are essential in this situation. It is imperative for gamblers to acknowledge these psychological undertones and act in opposition to their natural tendencies

That is why we do not need to try to recover the losses we have experienced. Besides that, it is difficult to obtain, and we will experience an even bigger loss, and it could exceed the previous loss so that the money we have can be used only to try to recover from the loss. The tendency of gamblers to deposit more money into their gambling accounts after experiencing losses has always been there and this causes them to keep trying to recover their losses. We must not be trapped by our thoughts, which constantly tell us to recover from our losses because we will find it difficult to get the big win.

It would be better if we had a plan to use the winning money that we get rather than trying to get even bigger wins. That will be harder to get because we've already had the big win but we still want the bigger one. And that's where we need to have discipline and an escape strategy so that we can really get out of gambling with big winnings that we can use to build other sources of income so that we don't depend on gambling to make money. That will be much better because we will shift our focus on making money to other places that are more promising for generating income.

Quote from: Fredomago on November 16, 2023, 06:31:07 PM

They need the balance and the kind of mindset that will keep them away to any form of greed and addiction, chasing your loses most of the time push to lose more, and from that point you may develop bad gambling habits and turn you to become an addicted gambler, better to enjoy if you win some money of when you already lose your initial capital make sure to stop and not to add more money to try recovering back you loses, it's not a good practice, accept your defeats and take as rest to freshen your mindset and recreate a good strategy after.

Stopping gambling after getting a big win is the best thing we can do because by stopping gambling, we can enjoy the winning money and we can also use it for other things, such as creating a new business with the winning money. We will not try to chase another big win so that we can also avoid more losses because once we experience a loss, we will try to recover from that loss so that it will only give us even bigger losses. So we have to be wise with what we have because we have to remember the purpose of our gambling, where we gamble only for fun and not to make money.