Do you set a specific bankroll before gambling or not? - page 12.

Findingnemo

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Quote from: Viscore on June 16, 2024, 08:39:09 AM

"Bankroll" is usually a term used in sports betting. From what I've read in some of the threads here, we need to be disciplined in managing our bankroll, typically betting only 5% to 10% per wager. So I'm curious: do bettors here really set up a bankroll first before they start gambling, or do they just gamble whenever they have available money?

Please share your experience whether positive or negative and what you learn from it.

Banlroll is not just limited to sport bettors alone, even for a casino player bankroll management is a very important practice and more than a sports bettor cause in casino everything happens instantly so it won't take too long to bust your entire balance and if you have deposited more than you supposed to do then you will suffer later.

Still, I voted NO, because I don't set a specific amount from my income to gambling I just do it whenever I want to which helps me to keep a balanced lifestyle between my gambling activities and financial decisions.

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Quote from: Assface16678 on June 17, 2024, 05:03:39 AM

Quote from: Viscore on June 16, 2024, 08:39:09 AM

"Bankroll" is usually a term used in sports betting. From what I've read in some of the threads here, we need to be disciplined in managing our bankroll, typically betting only 5% to 10% per wager. So I'm curious: do bettors here really set up a bankroll first before they start gambling, or do they just gamble whenever they have available money?

Please share your experience whether positive or negative and what you learn from it.

Yes, absolutely well. Its because I learned from my previous mistakes related to gambling, because before I became too addicted to gambling to the point that I stopped thinking about the expenses and ended up using some of my salary. The worst is that I used my one whole cut off of the month for gambling, and sadly, I lost it all. From there, I became more aware of what was happening, and somehow I learned to limit and control my gambling. So now, before I gamble, I should have allocated funds either from my salary or from my other extra income. In that way, when I lose all the allocated budget I have for gambling, that's the time when I will stop gambling and wait for the time that I can have another set of funds that I could use for gambling. And I think that is important for those who can't afford to lose a huge amount of money.

Allocating a budget at a specific level is a very powerful preventative, especially when we are too swept up in the game and cannot know how much money we have bet, such budget allocation aims to make us more calm, it can be understood as a safety barrier for people who are prone to rapid changes in emotions and lack the element of alertness in gambling. But even with such a strategy, the golden hand is still several steps faster, somehow many people still expand their budget even when they already have a specific number

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Quote from: atookz on June 17, 2024, 08:28:30 AM

Quote from: Viscore on June 16, 2024, 08:39:09 AM

"Bankroll" is usually a term used in sports betting. From what I've read in some of the threads here, we need to be disciplined in managing our bankroll, typically betting only 5% to 10% per wager. So I'm curious: do bettors here really set up a bankroll first before they start gambling, or do they just gamble whenever they have available money?

Please share your experience whether positive or negative and what you learn from it.

Setting a bankroll is a method that must be met so as not to overdo it and spend it all, I always do that. When experiencing a losing streak it will save you from bankruptcy, but when you win it will provide a positive ROI. In addition, it is also important to set win and loss limits. Determine the amount of winnings that will make you stop playing and withdraw some of the winnings. And set a loss limit that will stop playing and avoid losing more money. If you do both then you will gamble more safely.

Yep, one more thing about bankroll management is you can make yourself have more control and have a slowly but surely type of betting. Most of the time, we have this uneasiness and having a rush feeling especially if we have a consecutive losses in our betting, and most gamblers starts to increase their bet without thinking until they no longet have enough balance.

To avoid such scenario, this can be helpful to anyone. Even I is also doing this ever since I have realized and learned from my past mistakes.

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Quote from: Assface16678 on June 17, 2024, 05:03:39 AM

Quote from: Viscore on June 16, 2024, 08:39:09 AM

"Bankroll" is usually a term used in sports betting. From what I've read in some of the threads here, we need to be disciplined in managing our bankroll, typically betting only 5% to 10% per wager. So I'm curious: do bettors here really set up a bankroll first before they start gambling, or do they just gamble whenever they have available money?

Please share your experience whether positive or negative and what you learn from it.

Yes, absolutely well. Its because I learned from my previous mistakes related to gambling, because before I became too addicted to gambling to the point that I stopped thinking about the expenses and ended up using some of my salary. The worst is that I used my one whole cut off of the month for gambling, and sadly, I lost it all. From there, I became more aware of what was happening, and somehow I learned to limit and control my gambling. So now, before I gamble, I should have allocated funds either from my salary or from my other extra income. In that way, when I lose all the allocated budget I have for gambling, that's the time when I will stop gambling and wait for the time that I can have another set of funds that I could use for gambling. And I think that is important for those who can't afford to lose a huge amount of money.

Everyone makes mistakes. The key is that you are learning and becoming wiser in your financial management. That is wonderful. Creating a budget specifically for gambling? Smart action.

Gambling isnt a retirement strategy. Though its exciting and pleasant, its not where you shape your future. Your head is on your shoulders really nicely. Take advantage of it. Consider various approaches of increasing your wealth. Perhaps speak with some financial professionals; they know a bit about winning.

The aim is to be set for life, not only to have pleasure. You've got this.

atookz

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Quote from: Viscore on June 16, 2024, 08:39:09 AM

"Bankroll" is usually a term used in sports betting. From what I've read in some of the threads here, we need to be disciplined in managing our bankroll, typically betting only 5% to 10% per wager. So I'm curious: do bettors here really set up a bankroll first before they start gambling, or do they just gamble whenever they have available money?

Please share your experience whether positive or negative and what you learn from it.

Setting a bankroll is a method that must be met so as not to overdo it and spend it all, I always do that. When experiencing a losing streak it will save you from bankruptcy, but when you win it will provide a positive ROI. In addition, it is also important to set win and loss limits. Determine the amount of winnings that will make you stop playing and withdraw some of the winnings. And set a loss limit that will stop playing and avoid losing more money. If you do both then you will gamble more safely.

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Quote from: ethereumhunter on June 17, 2024, 07:15:44 AM

Some gamblers will manage their bankroll but some other will not manage it because they don't thinks too much about bankroll. A wise gamblers will set their bankroll when they playing gambling because they don't wants to lose much money in gambling. They will always take care of themselves, especially their money because they knows that their risks will becomes bigger if they use more money.

I have bad experienced on that in my beginning playing gambling but I realizes that is only gives me big lose so I decide to reduce my lose by manage the money I used. That works for me because I can limits my money that I use to playing gambling and until now, I still trying to limit my money and time to reduce the lose.

Although we consider winning and losing in gambling entirely up to luck, there are certain strategies that, if maintained, make it easier to manage gambling properly. And one of the important things among them is money management. When we talk about money management, gambling bankroll management will be mentioned again and again. In gambling I try to pay close attention to the bankroll as it controls my spending levels to some extent. There are many who use their betting money according to the bankroll. When I have enough money in my gambling account I will place bets accordingly. Therefore, bankroll management plays an important role in gambling.

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Quote from: lienfaye on June 17, 2024, 03:50:33 AM

Quote from: Viscore on June 16, 2024, 08:39:09 AM

"Bankroll" is usually a term used in sports betting. From what I've read in some of the threads here, we need to be disciplined in managing our bankroll, typically betting only 5% to 10% per wager. So I'm curious: do bettors here really set up a bankroll first before they start gambling, or do they just gamble whenever they have available money?

Please share your experience whether positive or negative and what you learn from it.

Well, It's best to gamble using a set budget and be strict not to exceeds the limit. Because in gambling it's a must to have discipline when it comes to the money that you're going to use for playing. Money management is crucial so that you can control yourself to follow your set boundaries. In my case, I usually gamble after payday, when I already set aside the budget for essential needs. When there's left (though often I always allocate for my leisure) that's what I use to gamble. So obviously it is not huge but good enough to have fun.

Yes, of course, because after all gambling is a risky activity where the level of risk can be very high if a gambler cannot manage and control his gambling activities according to his abilities, one example of which is, as you said, by minimizing the amount of budget that will be bet, you or anyone can win with any amount, but what we have to remember is that winning is nothing more than a "chance", meaning that the possibility of losing will always be something that is certain to happen and this is why a gambler is always prohibited when he wants to act excessively.

Management is something that must always be prioritized as you said, and especially if it involves money and from what you said about your approach to gambling, you prioritize setting aside some money first to cover all your living needs. when you get paid it is a good idea, because after all gambling is not something that should be forced, simply as long as you are able and as long as you can be responsible for your decisions then go for it.

ethereumhunter

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Some gamblers will manage their bankroll but some other will not manage it because they don't thinks too much about bankroll. A wise gamblers will set their bankroll when they playing gambling because they don't wants to lose much money in gambling. They will always take care of themselves, especially their money because they knows that their risks will becomes bigger if they use more money.

I have bad experienced on that in my beginning playing gambling but I realizes that is only gives me big lose so I decide to reduce my lose by manage the money I used. That works for me because I can limits my money that I use to playing gambling and until now, I still trying to limit my money and time to reduce the lose.

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Quote from: Viscore on June 16, 2024, 08:39:09 AM

"Bankroll" is usually a term used in sports betting. From what I've read in some of the threads here, we need to be disciplined in managing our bankroll, typically betting only 5% to 10% per wager. So I'm curious: do bettors here really set up a bankroll first before they start gambling, or do they just gamble whenever they have available money?

Please share your experience whether positive or negative and what you learn from it.

Yes, absolutely well. Its because I learned from my previous mistakes related to gambling, because before I became too addicted to gambling to the point that I stopped thinking about the expenses and ended up using some of my salary. The worst is that I used my one whole cut off of the month for gambling, and sadly, I lost it all. From there, I became more aware of what was happening, and somehow I learned to limit and control my gambling. So now, before I gamble, I should have allocated funds either from my salary or from my other extra income. In that way, when I lose all the allocated budget I have for gambling, that's the time when I will stop gambling and wait for the time that I can have another set of funds that I could use for gambling. And I think that is important for those who can't afford to lose a huge amount of money.

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Quote from: Viscore on June 16, 2024, 08:39:09 AM

"Bankroll" is usually a term used in sports betting. From what I've read in some of the threads here, we need to be disciplined in managing our bankroll, typically betting only 5% to 10% per wager. So I'm curious: do bettors here really set up a bankroll first before they start gambling, or do they just gamble whenever they have available money?

Please share your experience whether positive or negative and what you learn from it.

Well, It's best to gamble using a set budget and be strict not to exceeds the limit. Because in gambling it's a must to have discipline when it comes to the money that you're going to use for playing. Money management is crucial so that you can control yourself to follow your set boundaries. In my case, I usually gamble after payday, when I already set aside the budget for essential needs. When there's left (though often I always allocate for my leisure) that's what I use to gamble. So obviously it is not huge but good enough to have fun.

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Quote from: Julien_Olynpic on June 16, 2024, 09:41:15 PM

In my opinion, a fairly good bankroll limit for a series of games per week is the figure of 3-4% of weekly income. Most often this is a relatively small number that will allow you to have fun, satisfy your gambling instincts, but will not allow you to lose too much money. Yes, I choose to set bankroll limits before playing. It's a lot like learning to fly an airplane before you get on it. Risk always requires a responsible attitude.

If you have a big weekly income, you'll be able to raise a good amount of bankroll. So, how about bankroll management? What percentage do you use per wager? For me, it's important to have an amount as my goal for winning and then set up a bankroll that is realistic enough to achieve it with a certain winning rate.

Let's say my goal is to win $1000. I would set 50% of that, which is $500, as my bankroll. When I turn my money into $1500, that could be it. I'll consider my sports betting journey a success. It's really important to know when to stop, as gambling every day or all the time is not living a balanced lifestyle.

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Determining the amount for games in advance indicates that a person knows how to allocate his budget. It doesn’t matter what amount of the deposit, but having a limit and learning to stop in time will allow you to continue your games for as long as possible. Games based on emotions, when the entire deposit is lost, will only create erroneous bets and naturally bring more stress than pleasure from the game.

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In my opinion, a fairly good bankroll limit for a series of games per week is the figure of 3-4% of weekly income. Most often this is a relatively small number that will allow you to have fun, satisfy your gambling instincts, but will not allow you to lose too much money. Yes, I choose to set bankroll limits before playing. It's a lot like learning to fly an airplane before you get on it. Risk always requires a responsible attitude.

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Quote from: Viscore on June 16, 2024, 08:39:09 AM

~

Definitely do and other should definitely as well. It just helps to set certain limits when doing stuff, no matter what. Especially if you consider how gambling can be an activity where emotions can run really high, so your judgment can be really clouded at times, so limits really help in controlling that. Sure, you can say that you can just deposit more since it's your account but ultimately that's on YOU to acknowledge and play within the limits you yourself set. Not really something others can have a say for the most part.

Playing without limits just make it harder really, and it doesn't really give you any idea in the first place to what is your limit in the first place. Setting up my finances when doing allocations definitely helped me manage my funds in general a lot more.

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Quote from: Viscore on June 16, 2024, 08:39:09 AM

"Bankroll" is usually a term used in sports betting. From what I've read in some of the threads here, we need to be disciplined in managing our bankroll, typically betting only 5% to 10% per wager. So I'm curious: do bettors here really set up a bankroll first before they start gambling, or do they just gamble whenever they have available money?

Please share your experience whether positive or negative and what you learn from it.

Although I don't speak for all, as always, in this forum as a community, you will always find the good, bad and ugly bettors, so the answers to expect will reflect the same.

Regardless, whether we are using percentages to measure it or wager randomly, what matters is for us to avoid gambling addiction and be so responsible in our finances. That said, my answer in this context is No and Yes, and I don't intend to change that any time soon. This is because it is not by using any percentage to judge it perfectly but for me to only gamble with a plan. And for me, my plan varies and this mainly depends on whether I am betting on sports or casinos.

Besides, insomuch the amount is affordable by me, I gamble it in a way that will not hurt me if I lose. I could be fixed or random about it but will ensure that I keep to a reasonable budget and management based on the plan I opted for at that time.

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Quote from: Viscore on June 16, 2024, 08:39:09 AM

"Bankroll" is usually a term used in sports betting. From what I've read in some of the threads here, we need to be disciplined in managing our bankroll, typically betting only 5% to 10% per wager. So I'm curious: do bettors here really set up a bankroll first before they start gambling, or do they just gamble whenever they have available money?

Please share your experience whether positive or negative and what you learn from it.

Not all gamblers think the same, some don't bet unless their bankroll is up to their expectations and some try to bet with whatever amount they have. I feel bad about betting with small fractions because I know that even if gambling wins and losses are based on luck, gambling with amounts that won't change my winnings has no benefit. So I think I should bet an amount where I can enjoy my winnings immensely if I win. After one win, there is no guarantee that I will get another. Moreover, I have seen some other gamblers who feel that it is not easy to increase their bankroll by winning over and over gambling unless luck favors them that way. But if I can take big bets then I can dream big if luck favors me.

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Quote from: Viscore on June 16, 2024, 08:39:09 AM

So I'm curious: do bettors here really set up a bankroll first before they start gambling, or do they just gamble whenever they have available money?

I always define a limited bankroll size before starting my gambling session, because that is the most essential guideline you have to follow when gambling. Without following this rule, it's not going to take a long time until you find yourself in a big mess... When you set up a bankroll, you are actually calculating how much money you can afford to lose gambling, and how much money is going to remain for another activities of your routine.

Then inside the gambling bankroll, you will also manage the size of the bets you are going to place and for how long you wish this bankroll to last, more or less. If you do this successfully, you aren't going to lose control over your funds on long run, consequently not becoming a degenerated gambler.

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I always use some form of bankroll management because, in sports betting, it's easy to lose your gambling budget in minutes and not having one could cause you to be greedy and lose more bets. If you lose your deposit faster than expected, you'll sometimes be encouraged to spend more only to refill your balance. Also, as the others mentioned, you'd even get the urge to chase after your losses, and it can get pretty bad real fast if you struggle to control yourself.

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If someone wants to go in a casino and wager their entire bankroll in one dice roll or blackjack turn... Then whatever, it's their choice. They would very well lose it all in one go, but if they can afford that to me it's no problem at all. Some people think that if they win big they'll lose it all anyway. Some consider it unhealthy to spend a lot of time in a casino because there also other vices exist such as alcohol.

But also some people think that if they're not lucky upon their entry in a casino it's not worth to stay there at all. So props to them for playing with their own style. Not everyone sees gambling as a way of spending a lot of time to enjoy. So I don't think we need to be judgmental to the way others play. Whatever works for them so long as it's not affecting them negatively outside of their gambling is ok.

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Quote from: Viscore on June 16, 2024, 08:39:09 AM

"Bankroll" is usually a term used in sports betting. From what I've read in some of the threads here, we need to be disciplined in managing our bankroll, typically betting only 5% to 10% per wager. So I'm curious: do bettors here really set up a bankroll first before they start gambling, or do they just gamble whenever they have available money?

Please share your experience whether positive or negative and what you learn from it.

I think that the second case is either an addiction or close to it, since spending free money on gambling is the same as losing it. It seems to me that any normal person (without addiction) thinks about the budget for this entertainment (relative to his total income and expenses) and does not allow it to exceed some insignificant percentage of income.

Topic: Do you set a specific bankroll before gambling or not? - page 12. (Read 2527 times)