Help! I need gambling advice.

[sorenjo]

Hi

 

During the past months I have won about 10000 euros, but now they are all gone.

 

I never use money I don't have, but I often end up gambling away all my winnings because of my carelessness.

 

Does anybody have any advice for not gambling away all your winnings? Trying to restrain myself has not worked yet

 

Thanks in advance

[hajnrih]

Hi

 

During the past months I have won about 10000 euros, but now they are all gone.

 

I never use money I don't have, but I often end up gambling away all my winnings because of my carelessness.

 

Does anybody have any advice for not gambling away all your winnings? Trying to restrain myself has not worked yet

 

Thanks in advance

Welcome to the club

[sorenjo]

Thanks Haj. How do I cancel my membership? xD

[ValDes]

Hi

 

During the past months I have won about 10000 euros, but now they are all gone.

 

I never use money I don't have, but I often end up gambling away all my winnings because of my carelessness.

 

Does anybody have any advice for not gambling away all your winnings? Trying to restrain myself has not worked yet

 

Thanks in advance

 

Oh, so sorry to hear that mate.  

 

Most of us been in your shoes every now and then, so I guess this topic will help you figure out what might work best for you when it comes to fighting a serious issue such as reversing. 

 

How to resist on reversing a withdrawal?

[sorenjo]

Thanks ValDes. When I have won big I tend to experiment with high bets which always turns out to be the worst idea

 

I should just stick to my original routine.

[hajnrih]

Thanks ValDes. When I have won big I tend to experiment with high bets which always turns out to be the worst idea

 

I should just stick to my original routine.

Get married if you're not and let your wife manage the finances, leaving a small gambling budget for you every month/week.

[sorenjo]

I have a girlfriend and a daughter, will that help? xD

[ValDes]

Get married if you're not and let your wife manage the finances, leaving a small gambling budget for you every month/week.

 

 

I have a girlfriend and a daughter, will that help? xD

 

Nope, it won't help at all.  

 

The thing is that the more you play and the bigger you bet, your brain and gambling habits adjust accordingly and demand more and more to achieve the same level of excitement and adrenaline. What was once your usual bet of let's say 1.00 is now nothing comparing to playing with 5.00 or even bigger stakes. Been there, I know what you are talking about, I know what is to play DOA and hit a double wild line with 0.18 and with 2.25 bets! The difference in the emotions /let alone the wins and money/ is simply mega huge...

 

In my humble opinion, the answer of your question and concern is only one and it's called discipline. It's not my words though, we had a great forum member couple of years ago, his username was Slotoholic, so he used to say that "Everything in gambling is a matter of self control!" 

[Awena]

Hi

 

During the past months I have won about 10000 euros, but now they are all gone.

 

I never use money I don't have, but I often end up gambling away all my winnings because of my carelessness.

 

Does anybody have any advice for not gambling away all your winnings? Trying to restrain myself has not worked yet

 

Thanks in advance

Gambling psychology offers insight into self-control, risk-taking, impulsiveness

A bird in the hand still has more cash value than 10 in the bush.

Casual gamblers may be no more impulsive than non-gamblers when it comes to discounting the value of a delayed reward in favor of a smaller amount of cash on hand. But gamblers are more likely than non-gamblers to take a chance on a possible higher payoff instead of taking a smaller guaranteed reward.

That’s the conclusion of a recent study by three psychology researchers at Washington University in St. Louis. Their study, “Is Discounting Impulsive? Evidence From Temporal and Probability Discounting in Gambling and Non-gambling College Students,” was published in a recent issue of the journalBehavioural Processes (Volume 64, Issue 3).

“The main area of research of the study is discounting, where the value of the reward diminishes as it’s delayed, when you can’t have it right away,” said Leonard Green, Ph.D., Washington University professor of psychology in Arts & Sciences and one of the co-authors of the study. “You might rather have $80 now than $100 in a year, because the $100 later is worth less than $100 to you now.”

The study also looked at probabilistic rewards, “which is how we get into gambling,” said study co-author Joel Myerson, Ph.D., research professor of psychology. “You might rather have $100 for sure than a 50 percent chance of getting $200. You discount the value of the probabilistic option.”

Daniel D. Holt, a doctoral candidate in psychology, studied 18- to 24-year-old college undergraduates at a Midwestern state university where gambling is legal at age 18. Holt chose 19 students who were identified as gamblers based on a score of 4 or higher on the 1987 South Oaks Gambling Screen (SOGS), developed by H.R. Lesieur and S. B. Bloom. For a control group of non-gamblers, 19 volunteers were selected based on similarities to the gambler group in both gender and age, but whose SOGS scores were either 0 or 1.

Holt chose a college-age sample in order to avoid individuals who might already have developed other psychological and social problems associated with pathological gambling.

“Dan was more interested in learning about basic aspects of impulsivity as represented by risk-taking or an inability to delay,” Green said. “So he wanted to use a rather normal population: they’re people who gamble but they’re not pathological; they’re not in need of therapy.”

To assess temporal discounting, the individuals were given a series of choices between a smaller amount of money (e.g., $100) available immediately and a larger amount (e.g., $1,000) that could be received after a specified delay (e.g., 3 years). The amount of the immediate reward was adjusted after each choice to determine the subjective value of the delayed, larger amount.

“There were no differences between the gamblers and the non-gamblers in the degree to which they discounted the delayed rewards,” Green said. “The gamblers weren’t differentially affected by delay. Although the more delayed the reward, the less they wanted it, their choices were no different from the non-gamblers.”

But when probability discounting was assessed, “we found that the gamblers were much more likely to go for the risky, higher payoff,” Green said.

In the probability discounting tasks, the participants chose between a smaller, certain amount of money and a larger amount that could be received with a stated probability. A similar adjusting-amount procedure was used to estimate the subjective value of the probabilistic rewards.

Although both groups discounted large probabilistic amounts more steeply than small probabilistic amounts, the gamblers did not discount as much as the non-gamblers. In other words, “college students who gambled were willing to take more risks than non-gamblers,” said Holt.

“Given a choice between a risky, larger reward or a safe, smaller reward, the gamblers were more likely to take the risky payoff,” Green said.

Insight into behavioral problems

The study results might explain why some people make certain bad choices. “For example, why is it people engage in behaviors the long-term consequence of which is worse for them?” Green said. “Why do you have that incredible chocolate cake right now when you’re trying to lose weight, or you’re trying to stay healthy, or trying to stay fit? One of the reasons is that being healthy, being fit, is a delayed reward; it occurs later. And the later it is, the less it controls your present behavior. It’s discounted.”

Similarly, gamblers “might be making bad choices because they’re not taking the risk into account adequately,” said Holt.

The researchers were not interested in gambling, per se. “The area of discounting may have important implications for a lot of different human behaviors — self-control issues, impulsivity, risk-taking, as well as gambling,” Green said.

The study also argues against the longstanding view that impulsivity is a general trait that includes both an inability to delay gratification and a tendency to take risks.

The term “impulsive” is often used to describe people who “can’t wait. They can’t delay; they’ve got to have it now,” Green said. “So they’re willing to forgo something better that comes later in order to get something right away.” But the term can also be applied to someone who doesn’t take risks adequately into account. “They just act ‘impulsively;’ they don’t think and consider all the risks,” he said.

So if gamblers are thought to be impulsive because they don’t adequately consider risks, then some researchers might argue that gamblers would also be impulsive in being less likely to delay.

“But what Dan found was that they weren’t more impulsive with delay,” Green said, “suggesting that this term ‘impulsive’ lumps together traits that might be different.”

So the term “impulsivity” might not help distinguish between different disorders that are all currently classified as impulse-control disorders.

“What we would argue is that our study might give insight into different behavioral problems,” Green said. “Some problems might be a combination of risk-taking and an inability to delay. Other problems might reflect difficulties with risk-taking; and other problems might reflect difficulties with the ability to delay. And the term ‘impulsive’ can’t be used to describe all three of those.”

Green, Myerson and Holt suggest that their research may lead to ways of assessing the likelihood that people will engage in self-harmful behaviors. Psychologists might be able to target those individuals and develop cost-effective interventions for those who are at risk, or assess their improvement as a result of therapy.

“If the individual understands the determinants of his or her behavior,” Green said, “then the individual may be better able to control his or her own behavior.

 Dear Sorenjo, I hope this might help you to get this issue solved or understand what's going on and like Guru said, it's all about self control .

 

[koryheart223]

I've had my own fair share of that impulsive behaviour as well. What I try to do is stay away from the internet as much as possible. Or if I do play I try limiting myself to just playing for 2 - 3 spins and whatever the outcome that will be my quota for the day or week. It's worked pretty much for me. 

 

Good luck sorenjo!

[fb_10207597095980861]

I was really having enormous problems with holding on to wins both in terms of reversing withdrawls and by always going back to the casino to bet afresh when winings received. Cost me a huge amount before I realised the ship has to be very tight in order to be able to sail... 

Reversing withdrawls is very much a psychological thing but in the meantime I have my own system of rules now which often (i.e. usually) work.

 

I reduced my weekly/daily limits at the casinos I use to a fraction of what they were - meaning that if I do win and withdraw funds, there is no danger of me going back and spending it all again. I only have accounts at a handful of casinos in total but also block myself off from individual casinos for a month at a time so that it is easier to reduce total bets. To me it is important that the profits are a lot higher than then losses. by working with small limits I can automatically ensure that the losses will be very limited in any case. OTOH there is a saying "run your profits stop your losses" - if I start a wining streak I will then keep very tight stop-losses (vital if you want to make money on a consistent basis) and only play with part of my winnings. I work on the basis that if a casino pays out 95-97% of monies paid in - and probably 90%+ of players do not operate with tight rules, then the remaing % of players have a chance of making a very tidy profit indeed and yet overall the house still wins. That's my theory for what it is worth at least...

[sorenjo]

Quite a read Awena xD but interesting,

 

Thanks for the replies, good suggestions

[Hellridah]

Hi

 

During the past months I have won about 10000 euros, but now they are all gone.

 

I never use money I don't have, but I often end up gambling away all my winnings because of my carelessness.

 

Does anybody have any advice for not gambling away all your winnings? Trying to restrain myself has not worked yet

 

Thanks in advance

 

Sorenjo , 

 

You take the good with the bad and my style is with each win Siphon 60 percent away from the win and reinvest 40 percent 

also when you get a win somewhere give that place some time to "cool off" and frequent another establishment Key is to 

stay on the move some places are worth sticking at trust me : Videoslots , guts , 32 red (group) , bitstarz , Casumo ,

Fortune Lounge Group , Vegas Partner Lounge , and Casino Rewards Group. 

 

Also with regards to that 60 percent create an account which can't be touched e.g credit cards , atm , and bank withdrawals 

some kind of savings account which requires multiple signatures and a large fee for cancellation or get a safe and provide 

the other half with the combo and when that money comes let her become the banker.

 

And hey mix a bit of business with pleasure if you get wins sometimes I know I do I take my woman out and buy her clothes 

and stuff in general its all about thinking outside the box gl mate. 

[sorenjo]

Thanks A lot Asta. Good advice

[samverhoeff]

Check out Slotjoint casino, I have the same problem as you, and the responsible gambling tools they have on there are second to none. On every other casino I have played at I basically never withdraw, on this casino I have withdrawn twice since playing there for a few weeks. But easier said then done for me - since I have basically self excluded myself from every online casino bar this one and a few others, responsible gambling limits mean nothing if you are just going to jump straight to another online casino once you hit the limits. 

[sorenjo]

Thank you I will check that out. I make a lot of withdrawals, the problem is I deposit them again once they reach my eWallet xD

[cocopop3011]

Thank you I will check that out. I make a lot of withdrawals, the problem is I deposit them again once they reach my eWallet xD

 

Sorenjo why don't you withdraw them to your bank before you can make another deposit'?

[sorenjo]

eWallet/Bank, potato potaato. Once they reach my bank I redeposit as well :/

[Afi4wins]

eWallet/Bank, potato potaato. Once they reach my bank I redeposit as well :/

 

Don't we all? 

[hajnrih]

No access to funds

[Ancom1941]

Welcome to the gameblers club - everyone make this kind of impulsive.. things - after all risk is passion If you want good advices for your real money - you can check this site - < snip > - and you know - keep playing

Edited June 16, 2016 by ValDes
External link removed. Please stick to the Forum Rules!

[hajnrih]

You'll get your but kicked faster than you can say cheese. Not cool bro.

[raverbabe]

Oh dear Sorenjo that is as tragic story indeed. I'm a little annoyed with myself today after wasting £40 that I had other plans for (it was of still of course leisure money) in the hunt for a decent win, which has caused me more than a little grief today... I can't even imagine the stress you must be feeling having lost 10k. In all honest with losses of that magnitude I really think you should be considering giving up gambling for a while if not for good, sorry if that sounds partronising but that has to be a reasonable percentage of your annual income surely... losing it all in a gambling spree is outrageous.