I assume that people come to the gambling industry as inexperienced people. And in the process of their activities, they gradually learn from their mistakes. Unfortunately, some of these mistakes are dramatic and cause us quite serious psychological trauma. As a rule, this is due to gross errors and stupid persistent beliefs that push us to the edge of the financial abyss.
First of all, this is risk management and money management. The second is probably unsystematic play. Let me make a reservation that I do not mean casinos, as well as people playing "for fun". I mean sports betting.
So, how much did your mistakes cost? Did they cause you a serious psychological blow? What were your mistakes, did you learn from these mistakes and do you apply this knowledge in practice now? Were these mistakes simply painful, dramatic or catastrophic?
I was addicted to gambling for a long time which caused me a lot of cost. And I have not been able to recover that damage till now. And during that time I also took some loans which I have not been able to repay till now besides losing my savings of about $10k. These were very bad moments for me. Sometimes I would go there for fun and lose money, sometimes I would get greedy and sometimes I would get emotional and continue gambling. All in all I was completely psychologically sick. But when I lost my entire savings then slowly I started to regret and from that I was able to slowly come out of my deep addiction to gambling. When I remember those previous incidents, I still feel very guilty.