The rings on the piston are passing too much oil/gas mixture due to the lost compression. Or, you have incorrectly mixed the oil and gas, if it uses a mixed fuel.

It sounds like it is flooded (too much fuel). It is a 2 cycle engine and the oil is mixed with the gasoline, hope you have been doing the recommend ratio of gasoline and 2 cycle oil. The fix if the engine isn't shot, take out the air filter and clean it with the recommended cleaner you should find in the manual. Or Place about 1 quart of warm or hot water in the bucket. Add to it 1/2 teaspoon of the dish soap. Make sure the water gets soapy before trying to clean the air filter. Find a hard surface and gently knock the air filter against it. Be careful not to hit the actual fabric of the air filter. You want to knock off as much of the dirt and debris that you can prior to cleaning the air filter. Once you are satisfied you can place the air filter in the hot water. The air filter is made up of a fabric that has many pores. When you have it in the water squeeze it several times to force the water and soap through those pours. Remove the air filter from the bucket.

Pour out the soapy water and rinse out the bucket. Now, fill the bucket with cold water. Place the air filter in the cold water. Grip the filter and squeeze it several times. You want to flush the soap out of the pours of the air filter. When done you can remove the filter from the water squeeze out excess water from the filter set it aside on some type of rack not on a flat surface to air dry.

Now take out the spark plug and crank the engine several time to blow out the excess fuel. Blow the excess fuel off the spark plug and clean it if necessary at the electrode end. Replace the spark plug and dry filter and try to start the engine without using the chock with the throttle fully depress/wide open. If it sputters, good, crank a few more times and if it doesn't start then try the chock for a couple pulls on the rope start and it might start but die, move the chock to half open/shut and crank again a few more times and it should start and remain running. If it remains running let the engine warm up and then move to the chock to wide open. If this doesn't work you have other problems.