Topic: Do you think as a gambler we should allocate specific amount to gamble? - page 2. (Read 1034 times)

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.

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.

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.

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

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.

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.

To summarized here; whenever you are gambling with spare money if you don't apply cautiousness you would end up altering your savings in the name of gambling with spare cash or money not in use for other important things. Although if the person is gambling for fun it does matter because any amount wasted is always counted even though you sees it as peanut at least it's a minus (-) to the loser and to their bank account.

I will like to see your different opinion on this misconception maybe let us know how to control gambling addiction if by using spare cash can reduce and limits gambling addiction or not. You can continue the discussion over here if you have made your vote and give your opinion

Was thinking in the same lines as this isn't really realistic, percentage based gambling sounds like it can be done on paper but in reality it's easy to get carried away and go over the budget especially if your aren't a regular gambler.
Though for someone having a bigger salary, I believe percentage based gambling can easily work here depending on ones risk appetite and dyou really need to be disciplined to follow it otherwise once in a while you are likely to go overboard!!

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.

There's nothing we can do if we are already addicted, so we should prevent ourselves from getting addicted in the first place. This way, we can continue gambling based on what we can afford to lose. We need to have a budget and stick to it. It doesn't matter if we're rich or not because we know our own finances and we're the only ones who can manage them.

Some might say that rich people spend a lot of money on gambling because they are rich. While that might be true, it's a wrong mentality. Being rich doesn't mean they won't go bankrupt if they don't manage their money well.

To summarized here; whenever you are gambling with spare money if you don't apply cautiousness you would end up altering your savings in the name of gambling with spare cash or money not in use for other important things. Although if the person is gambling for fun it does matter because any amount wasted is always counted even though you sees it as peanut at least it's a minus (-) to the loser and to their bank account.

Allocating an amount from your monthly income to go into gambling is simply overthinking or overdoing a very simple thing. The general concensus is thar gambling should be done only with money you can lose and not get knocked down by it. So that means it should be only done with spare money that you don't have an immediate use for. If you start allocating money for it, as time goes on, you'll begin increasing that allocation as your losses get bigger and bigger and you need to allocate more in order to bet bigger and recoup losses faster.

If the intention is just to have fun in gambling games, why regret it? We all know that when we gamble, the chances of us losing are much greater than winning. If we experience defeat, what is important in this case is self-control or emotional control so as not to play again. If you continue to increase your gambling budget to chase wins or losses, you can be sure that you will experience much bigger losses than before. In this case, you should limit your budget for gambling.

If the intention is just to have fun in gambling games, why regret it? We all know that when we gamble, the chances of us losing are much greater than winning. If we experience defeat, what is important in this case is self-control or emotional control so as not to play again. If you continue to increase your gambling budget to chase wins or losses, you can be sure that you will experience much bigger losses than before. In this case, you should limit your budget for gambling.

Budget restrictions are indeed very necessary, but sometimes those who gamble do not do that.
I myself have always kept my budget to a minimum and played just for fun. If I lose, I put in only a little money.

But when someone comes in with a lot of money, and they expect a big win,
they will inevitably be disappointed with some losses and end up continuing to play to recover those losses.

Yes, you know when an amount is set for a particular task it makes it very easier to reduce over expenses or let me say random spending because there is an amount that is already been tied to it but when gambler doesn't have a fixed amount for gambling and they gambles with their spare money it makes very open to gamble with anything that comes into their minds and that they would continue to pinch every little bit of their money without control or limits to which they wanted to.

If the intention is just to have fun in gambling games, why regret it? We all know that when we gamble, the chances of us losing are much greater than winning. If we experience defeat, what is important in this case is self-control or emotional control so as not to play again. If you continue to increase your gambling budget to chase wins or losses, you can be sure that you will experience much bigger losses than before. In this case, you should limit your budget for gambling.

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Whether it is 1% or 10%, there is nothing wrong with spending a lot as long as it is our extra money. But what we usually think is that if we gamble, we certainly lose which gives us some pressure. But if we just think I do this to have fun, even spending 10% could give us regrets. Unfortunately, we think of winning which absolutely changes our way of gambling and mindset, and when we lose, we tend to gamble more to take back our losses. We've been driven by our wrong mindset which is why we always feel disappointed and this is the reason why we don't feel satisfaction anymore.

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.