Do you think as a gambler we should allocate specific amount to gamble?

Nheer

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Quote from: SmartGold01 on June 28, 2024, 11:56:18 AM

This post was a little misconception of a fellow user on this section saying that is not a good advise to allocate specific amount to gamble from our monthly income, that is good to gamble with spare money or money not in used.

How will a person have such a view that allocating certain percentage to gambling is not a good idea, i don’t know his reasons but i feel you should have shared his reasons with us so we can know why he thinks so and if his reasons are reasonable maybe we can reason with him but i don’t think his reasons will be reasonable enough because not allocating a small percentage of your money to gamble will endanger your whole money and gambling without planning is a terrible idea it can leas to lots of things like even addiction and debt accumulation.

Quote from: SmartGold01 on June 28, 2024, 11:56:18 AM

Okay I was mean to ask this question towards people over here to know and draw different overview from you all to know whether you always have spare fund or money not in use? As a matter of fact I don't have spare money or money not in use and every money is useful to me therefore I have to set some specific amount from my income to use and gamble to maintain a responsible gambling practice and when this money is exhausted I don't go further to alter any other money kept as reserved or cushion/emergency fund otherwise could leads to gambling addiction.

I think i am just like you OP, i do have spare money sometimes but not always so whenever i don’t have spare money i don’t use all my money to gamble i only set aside a small amount to gamble and use the other funds for my needs and whenever the money is not enough i don’t make it a must to gamble. Maintaining a responsible gambling habit is the best way to go about gambling in order to get the best out of it.

DiMarxist

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Yes it is better to allocate some specific amount in f money from your income to gambling if the person is an addict to gambling. And for those who are not doing anything but looking for people to dash them money so they can use it to play gamble have nothing to do with gambling budget but gamble whenever they have money.
Therefore budgeting is meant for income earners so they can manage their resources whenever they received the salary.

the rise

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If the gambling addiction is so severe, well it would be very good to allocate a little money, and do not save money in large amounts, because it is the same as when the plan is to only spend a little because it is difficult to control yourself, no matter how much money is left it will run out, locking money and allocating a little money is the right choice.

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First thing we should know as a gambler regarding the amount of money to be use for gambling, we have to assign a particular amount in which we can afford to lose and gamble with, this said amount should be the rate that should reflect on our casino wallet, then secondly, we shouldn't overrate our gambling expectations no matter what, because we are not sure of winning or losing each time we are gambling until we made it to the end.

Perfectbaby

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For me to control gambling addiction and regulate a total amount one should used to gamble or to limits oneself from spending uncontrollable while gambling it's also good to allocate a special and specific amount to gamble because this will reduce the way one could be betting games. When the amount is set to gamble even though the allocation got exhausted it will make one to have patients while they allocates the amount back to gamble, with this, gambling addiction can be reduced and gradually eliminated if that gambler doesn't apply excessive greed while gambling.

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Quote from: Dewi Aries on October 01, 2024, 12:29:33 PM

Quote from: carlfebz2 on October 01, 2024, 10:16:32 AM

Quote from: Jawhead999 on October 01, 2024, 09:44:41 AM

5% is actually make sense even you didn't earn much, if you earn much you might say 5% is too much.

Let's say you earn $300 per month, you only can gamble for $15.

But, if you earn $10K per month, 5% from $10K is $500, you might say it's too much to gamble for $500 because you ever get paid $300 per month.

When you're earn small, calculate in percentage looks make sense, but when you earn big, calculate in percentage doesn't make sense anymore.

Amount would really be basing up on how much you do earn or simply with your income. Even if we do talk about % changes but still it would really be just that the same if we do speak about allocation.
When we do gamble then it will really be that recommended that you should really be that make use of the amount that you could really be able to afford to lose. Never ever make yourself that make use
specially with your life savings on which you are really that committing out such suicide when it comes into this action. Its not really that bad to gamble but it will really be that understandable
that you should be that mindful into the money that you are spending on which getting beyond with those limits will really be putting you up on such big trouble.

Well, that's right, I think this shouldn't be something that should be taken too seriously, because in the end what matters most is how much you can afford to lose, no need to go around in percentage divisions by connecting it to the amount of income for each different time.
This means that even if you have an income of $ 10,000 per month, it doesn't mean you have to allocate $ 500 just because it is 5% of the amount of income you have, and of course the smaller the better, the point is don't exceed your ability to lose money.

Basically, the problem of the downturn experienced by most gamblers, especially those who are addicted, is because they allocate an amount of money that they cannot afford to lose, meaning that you will not experience significant problems or even you will be fine in terms of finances, mental and psychological if you are able to treat gambling according to your abilities.

Allocating such percentage wouldnt really be ideal because just like on what you had said above that if we do stick into that 5% then on having a bigger salary or income will really be having that huge budget for doing gambling, same goes when you do have that small income then it wouldnt really be something significant that you could really be that making use into. This is why it wont really be that ideal if you do set out those % but actually its not really that bad on having those kind of limits but you should really be that mindful on the overall amount that you are spending $500 allocation on a 10k salary will really be just that too much, but if you are someone whose really that earning up that much per month then these kind of spending wont really be that much can be felt, this is why its normal on having this kind of set up.

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I don't really know what "as a gambler" means. As someone who enjoys gambling, I don't think it's a bad idea to have a regular budget to spend on gambling. Certainly most people have budgets for things like entertainment. At least the financial folks who care about their money.

Even if you're going to yeet your savings in Vegas, I would think you'd still have a number in your head that you're willing to play with. I do feel bad for anyone who gets drunk and makes horrible decisions as a result of not having a number in their head. I'm sure more than one person's life has been ruined by bad gambling decisions.

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Quote from: Fiatless on October 01, 2024, 02:06:26 PM

Quote from: Oluwa-btc on October 01, 2024, 01:49:24 PM

Quote from: SmartGold01 on June 28, 2024, 11:56:18 AM

This post was a little misconception of a fellow user on this section saying that is not a good advise to allocate specific amount to gamble from our monthly income, that is good to gamble with spare money or money not in used.

It's not necessary to allocate any money to be set aside for gambling because you tend to always keep to that whenever you get an income, so Many gamblers do this on several occasions possibly when they get money in hand they keep certain amounts for gambling purposes but what I think is the procedures end up luring the gamblers to addiction.
So i think there shouldn't be any allocated money but rather you gamble with any amounts you can afford to lose depending on your income rate, I know that some persons usually keep an allocated amount for gambling inorder to track their gambling habits but it all depends on the individuals decisions tho.

The ultimate goal of setting aside a specific amount for gambling is to avoid addiction. Some gamblers do that to control how much they spend on gambling at a specific time. When they exhaust the amount they have assigned for the month, they would have to wait for next month's or week's income to refund their gambling account. Controlling how much we spend on gambling also depends most on self-control. You can have a sound gambling plan or budget but if it is not effectively implemented it could still lead to addiction.

Setting aside a specific amount for gambling is a sign of responsible gambling. And the truth about responsible gambling is not just setting aside a decent amount for gamble. But the other important thing is that we also need to limit the number of time we spend on casinos (both online or offline), because the more we stay in a casino we will spend more money (even if we keep small money for gamble).

Fiatless

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Quote from: Oluwa-btc on October 01, 2024, 01:49:24 PM

Quote from: SmartGold01 on June 28, 2024, 11:56:18 AM

This post was a little misconception of a fellow user on this section saying that is not a good advise to allocate specific amount to gamble from our monthly income, that is good to gamble with spare money or money not in used.

It's not necessary to allocate any money to be set aside for gambling because you tend to always keep to that whenever you get an income, so Many gamblers do this on several occasions possibly when they get money in hand they keep certain amounts for gambling purposes but what I think is the procedures end up luring the gamblers to addiction.
So i think there shouldn't be any allocated money but rather you gamble with any amounts you can afford to lose depending on your income rate, I know that some persons usually keep an allocated amount for gambling inorder to track their gambling habits but it all depends on the individuals decisions tho.

The ultimate goal of setting aside a specific amount for gambling is to avoid addiction. Some gamblers do that to control how much they spend on gambling at a specific time. When they exhaust the amount they have assigned for the month, they would have to wait for next month's or week's income to refund their gambling account. Controlling how much we spend on gambling also depends most on self-control. You can have a sound gambling plan or budget but if it is not effectively implemented it could still lead to addiction.

Oluwa-btc

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Quote from: SmartGold01 on June 28, 2024, 11:56:18 AM

This post was a little misconception of a fellow user on this section saying that is not a good advise to allocate specific amount to gamble from our monthly income, that is good to gamble with spare money or money not in used.

It's not necessary to allocate any money to be set aside for gambling because you tend to always keep to that whenever you get an income, so Many gamblers do this on several occasions possibly when they get money in hand they keep certain amounts for gambling purposes but what I think is the procedures end up luring the gamblers to addiction.
So i think there shouldn't be any allocated money but rather you gamble with any amounts you can afford to lose depending on your income rate, I know that some persons usually keep an allocated amount for gambling inorder to track their gambling habits but it all depends on the individuals decisions tho.

Slow death

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Quote from: Reid on October 01, 2024, 12:08:01 PM

Yes we should. There should be a budget if we want to keep that discipline or else it will chaos for us. Gambling is not something we should take for granted, it could make us greedy or too frustrated that we will keep on depositing whenever we lose which also means getting broke for us.

Make a budget, live with it. It's just for entertainment and should not be taken seriously. If we lose then call it a day, if we win, we do the same and enjoy our profits.

Unfortunately, what happens to most people is that at first they think of gambling just for fun, but when they get it right once, their thinking changes radically. They start thinking about gambling to make a profit, and when they lose, they chase losses. And in the end, they lose all their possessions and become addicted to gambling. The ideal is for people to always have many other things to enjoy, not just focus on gambling as fun. This is a mistake that no one should make. For example, a person should go to the beach, go for a walk with relatives, spend little time gambling but spend a lot of time having fun with their family. This way, the person does not get frustrated and does not become addicted to gambling.

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Quote from: $weetne$$ on October 01, 2024, 01:12:14 PM

Quote from: Reid on October 01, 2024, 12:08:01 PM

Yes we should. There should be a budget if we want to keep that discipline or else it will chaos for us. Gambling is not something we should take for granted, it could make us greedy or too frustrated that we will keep on depositing whenever we lose which also means getting broke for us.

The mistake most people that are new to gambling make is that, they think when they keep a budget that it implies that they are gambling for money as they are putting too much attention on gambling but that is not it. The budget helps to keep you disciplined and not making you take gambling seriously against your will. If you do not budget, you are always going to over gamble and you can not keep track of the money that you are spending because there was no initial budget from the on set. Putting yourself on a budget helps you to quit when you got nothing left from the budget but this does not mean that you do not have any money left but playing without a budget will make you not have anymore again. After you have allocated money for gambling, you too have to be disciplined to keep to the budget.

the mistake of beginners is that they do not keep a budget and do not have a strategy for their finances, I even remember how I started, these were chaotic games with the goal of only winning and at the same time I did not keep track of how much I spent and how much I won and I know many people who did the same. And over time, when discipline appeared, it became much easier to control your finances, since this is the basis of all games: do not spend more than you are ready to lose at a time.

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Quote from: Jaycoinz on October 01, 2024, 08:08:06 AM

Doing this might actually save you from losing huge amounts and making terrible financial mistakes. As a gambler it's not advisable to stake more than 5 percent of what you earn monthly especially if you don't earn much. Gambling is a lifestyle and it's something you find yourself doing even when you don't want to, this is why you should set aside 5 percent of your income monthly and try not to exceed that amount whether you win or lose. A lot of gamblers seem to deviate from the plan when they are losing because they use all they have to chase their losses, you must learn to be disciplined no matter what

Using percentage is okay but I still prefer to go with spare money - I feel using a fixed percentage makes it look more like gambling is now something that must be done every month. Gambling is meant to be for entertainment purposes and we treating it this way will only make us start developing a different ideology of what gambling actually is.

If you have a spare money that you don’t want to use and you can afford to lose you can take part of it and gamble, you really should start separating gambling money from your salary - the same way you’ll allocate money for feeding, you’ll still allocate for gambling, it sounds weird to me.

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Quote from: Reid on October 01, 2024, 12:08:01 PM

Yes we should. There should be a budget if we want to keep that discipline or else it will chaos for us. Gambling is not something we should take for granted, it could make us greedy or too frustrated that we will keep on depositing whenever we lose which also means getting broke for us.

The mistake most people that are new to gambling make is that, they think when they keep a budget that it implies that they are gambling for money as they are putting too much attention on gambling but that is not it. The budget helps to keep you disciplined and not making you take gambling seriously against your will. If you do not budget, you are always going to over gamble and you can not keep track of the money that you are spending because there was no initial budget from the on set. Putting yourself on a budget helps you to quit when you got nothing left from the budget but this does not mean that you do not have any money left but playing without a budget will make you not have anymore again. After you have allocated money for gambling, you too have to be disciplined to keep to the budget.

Lucasgabd

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Quote from: Jawhead999 on October 01, 2024, 09:44:41 AM

Quote from: Jaycoinz on October 01, 2024, 08:08:06 AM

Doing this might actually save you from losing huge amounts and making terrible financial mistakes. As a gambler it's not advisable to stake more than 5 percent of what you earn monthly especially if you don't earn much. Gambling is a lifestyle and it's something you find yourself doing even when you don't want to, this is why you should set aside 5 percent of your income monthly and try not to exceed that amount whether you win or lose. A lot of gamblers seem to deviate from the plan when they are losing because they use all they have to chase their losses, you must learn to be disciplined no matter what

5% is actually make sense even you didn't earn much, if you earn much you might say 5% is too much.

Let's say you earn $300 per month, you only can gamble for $15.

But, if you earn $10K per month, 5% from $10K is $500, you might say it's too much to gamble for $500 because you ever get paid $300 per month.

When you're earn small, calculate in percentage looks make sense, but when you earn big, calculate in percentage doesn't make sense anymore.

I'm not sure, if you earn less would be way better to invest the money, buy bitcoin, buy stocks, instead of gambling because usually the money you bet will be lost forever
that are some crossovers with investing but not many, in terms of risk/returns the real winner over the long run is the house, not you
I answered max 1% and would say that regardless of total income

Dewi Aries

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Quote from: carlfebz2 on October 01, 2024, 10:16:32 AM

Quote from: Jawhead999 on October 01, 2024, 09:44:41 AM

5% is actually make sense even you didn't earn much, if you earn much you might say 5% is too much.

Let's say you earn $300 per month, you only can gamble for $15.

But, if you earn $10K per month, 5% from $10K is $500, you might say it's too much to gamble for $500 because you ever get paid $300 per month.

When you're earn small, calculate in percentage looks make sense, but when you earn big, calculate in percentage doesn't make sense anymore.

Amount would really be basing up on how much you do earn or simply with your income. Even if we do talk about % changes but still it would really be just that the same if we do speak about allocation.
When we do gamble then it will really be that recommended that you should really be that make use of the amount that you could really be able to afford to lose. Never ever make yourself that make use
specially with your life savings on which you are really that committing out such suicide when it comes into this action. Its not really that bad to gamble but it will really be that understandable
that you should be that mindful into the money that you are spending on which getting beyond with those limits will really be putting you up on such big trouble.

Well, that's right, I think this shouldn't be something that should be taken too seriously, because in the end what matters most is how much you can afford to lose, no need to go around in percentage divisions by connecting it to the amount of income for each different time.
This means that even if you have an income of $ 10,000 per month, it doesn't mean you have to allocate $ 500 just because it is 5% of the amount of income you have, and of course the smaller the better, the point is don't exceed your ability to lose money.

Basically, the problem of the downturn experienced by most gamblers, especially those who are addicted, is because they allocate an amount of money that they cannot afford to lose, meaning that you will not experience significant problems or even you will be fine in terms of finances, mental and psychological if you are able to treat gambling according to your abilities.

Reid

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Yes we should. There should be a budget if we want to keep that discipline or else it will chaos for us. Gambling is not something we should take for granted, it could make us greedy or too frustrated that we will keep on depositing whenever we lose which also means getting broke for us.

Make a budget, live with it. It's just for entertainment and should not be taken seriously. If we lose then call it a day, if we win, we do the same and enjoy our profits.

hahay

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Allocating money for gambling will be good because by doing so, we will also gamble with discipline. What is meant is, when the money we allocate for gambling is lost or runs out, then we must also stop gambling, and not continue it even though we still have money in other pockets. But if you only play with spare money or money that is not needed, I am sure not everyone can afford it. Because indeed, I also realize that for those of us who only have a salary or money that is always used or important for everyday life, it is difficult for us to make spare money. Therefore, allocating money for gambling is a good plan, and will also make us play with discipline and not be greedy to continue betting when we win or lose.

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Quote from: Frankolala on October 01, 2024, 10:37:19 AM

Quote from: Jawhead999 on October 01, 2024, 09:44:41 AM

Quote from: Jaycoinz on October 01, 2024, 08:08:06 AM

Doing this might actually save you from losing huge amounts and making terrible financial mistakes. As a gambler it's not advisable to stake more than 5 percent of what you earn monthly especially if you don't earn much. Gambling is a lifestyle and it's something you find yourself doing even when you don't want to, this is why you should set aside 5 percent of your income monthly and try not to exceed that amount whether you win or lose. A lot of gamblers seem to deviate from the plan when they are losing because they use all they have to chase their losses, you must learn to be disciplined no matter what

5% is actually make sense even you didn't earn much, if you earn much you might say 5% is too much.

Let's say you earn $300 per month, you only can gamble for $15.

But, if you earn $10K per month, 5% from $10K is $500, you might say it's too much to gamble for $500 because you ever get paid $300 per month.

When you're earn small, calculate in percentage looks make sense, but when you earn big, calculate in percentage doesn't make sense anymore.

Your discretionary income is what a gambler should use to gamble. If you are the one that use to have a gamble budget every week then you can figure out how much from your discretionary income that you will use as your gamble budget. I do use 2% for my gamble budget and since I have being doing this it has helped me a lot to manage my bankroll and has saved my from excess loss.

Gambling can become a vice if you become addicted and that is the main reason why responsible gambling is needed at all cost. If you assign too much from your income to gambling, it will affect you financially and psychologically because funds for important needs will be lost in gambling.

Well, but I can't always budget at the same amount when it comes to gambling. Like sometimes my budget is 2% and sometimes it is 4% but I try not to exceed 5% in any order. I believe it is difficult to manage gambling on a fixed budget. Although many are able to do that. Since there is no regular chance of winning in gambling and also there is no guarantee of winning in gambling so sometimes it is necessary to take a risk if there is an opportunity. But what we do is to keep it within our budget and within control otherwise gambling can lead to disaster.

A gambler can have a lot of money but still he should limit his betting to a certain amount so that he can avoid an unexpected situation. The bet amount can be slightly more or less but it must be set to a certain level.

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Quote from: michellee on October 01, 2024, 10:41:02 AM

If you earn small, very small you don't have to playing gambling. That will make you in trouble because you must pay attention to your daily needs rather than playing gambling. You can playing gambling when you have more money so you don't disturb your daily needs expenses.

That's a point many gamblers ignore and they face negative consequences for that. Gambling is not for you if you can't afford to do it, if you know you are earning only enough money to take care of the household, there is no necessity for you to gamble. Gambling should only be to try one's luck if someone is gambling for money. If you have a few extra bucks from each of your pay, you can use that only to try your luck. If you don't win, don't push it because that wouldn't change anything.

Spending more money doesn't make you win, it might increase the odds of you winning because you will be gambling for longer but that doesn't mean you should do it because we all know that at the end of the day, we are the ones who will be at a loss unless we win something significant before exhausting our bankroll.

Topic: Do you think as a gambler we should allocate specific amount to gamble? (Read 1034 times)