Do you think as a gambler we should allocate specific amount to gamble? - page 7.

Stable090

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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.

I have some percent of amount that I do allocate for gambling weekly, but sometimes I do decide to increase my allocation, and I also reduce it sometimes depending on the financial problems that am having at that particular period of time. But immediately I use up the amount that I allocate for gambling. I will never deposit more money to gamble, and even when I am bored, I will rather get something else to do than gamble because I already used up my allocation for that week.

If I can deposit more money, then I am already breaking the rules that I set for myself, which doesn’t make sense, so if my limit is reached, I will stop gambling no matter the condition.

Davidvictorson

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Thank you for bringing this up. When I first saw the notification, I was like urrgh another topic that has already been discussed but I must confess that I got disappointed when I read the whole thing. I like your own perspective added to it.

In my own estimation, I would add to the discussion by mentioning that there is no hard or fast rule to it. Each person should do whatever they feel makes them comfortable. Besides I strongly feel that even if a person allocates a specific amount for gambling and person B just gambles with spare cash, it doesn't mean that person A will not because a gambling addict. It is all about self discipline.

I advocate for having a set out amount but I will say again do whatever one you are comfortable with.

stompix

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

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.

You're contradicting yourself where!
You said you have no money to spare then you say you don't want to touch money kept in reserve, so which one is it?

He was right, you don't gamble with money you can't afford to lose, setting a budget of 10% of your income for gambling when you're at your limit and you would need that 10% for something else is a thing I don't recommend anyone doing, if at the end of the month for a whole year you're left with 20% of your income without cutting any expenses, then yeah, you can play with a part of that money as if they weren't there anyhow but else, no!

Lanatsa

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When it comes on assigning a % of money in every month for me to gamble is something that i wont really be doing. Why? It would really be more worth that with those percentages
you could really that make use in other means or purposes on which it is really that more important rather than on putting it on leisure thing.Although it wont really be that bad into such consideration
or would really be just that depending on a certain individual on how they would really be making out such thing about making up some budget or really that obliging themselves on which this one would really be
that situational since this isnt something that will really be that important specially in talking about leisure stuffs since gambling is really just that only on a few things.

Making up some budget or allocation on monthly basis towards gambling isnt really something that i would really be that wanting on which it would really be just that totally
a random thing for me on the moment that i do feel like on trying out to play gambling which it would really be that situational.

Rabata

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I don't have any spare funds but what I do is save some money from my monthly income. The amount of money I can live without is not much. I can think of this as additional funding. Because most have to collect money from a fixed income. They save private funds from their savings. You make a good point indeed people with extra funds are more likely to be addicted to gambling. Although I set aside a certain amount of money on a monthly basis, it is a part of my income that I save. If I lose that money I depend on next month's income. Those who have extra money or financial freedom to gamble tend to have higher rates of addiction as well.

serjent05

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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.

If you do not have extra money for a gambling activity then why gamble? This is actually an act of irresponsible gambling. Since you don't have extra money and the money you spending for gambling is actually allocated to something more important then you might get a fund deficit and eventually have to borrow money to fill that missing fund.

Percent to spend on gambling is pointed to the percent of the spare money you have. But if you have an allocation of your income to entertainment and used it to gamble then I think it is fine since gambling is one form of entertainment.

Quote

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.

When it comes to a fund that is already allocated to something else, spending a percentage of it to gambling is being irresponsible, IMHO. Just gamble what we can afford to lose but make sure it is not allocated to something else. If it is free money then learning bankroll management is the best way to maximize our allocated fund for gambling. I also agree to allocate a percentage of the free money to gambling and not spend it in one go. Moderating our gambling funds and activity is one way of gambling responsibly.

livingfree

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Both are good to be honest. It all comes down to your control as a gambler, whether you've got spare money or allotted budget on it from whichever source you have.

But if you can't control yourself from doing it, you're going to lose them all however you want. That's why the source of your gambling fund might matter but in the end, what matters most is on how you react by having that budget.

Because if you're not too good in budgeting and controlling yourself of spending them, spare or not, you'll easily lose it all.

un_rank

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- Jay -

I gamble with 1-2% of my income regularly, sometimes smaller than that if I win. When I win, I set some percentage of it to gamble while withdrawing the rest, at points when I get good runs I may not deposit to my accounts for a couple of weeks.

Anyone not budgeting their gambling capital should start doing that to not lose too much without being aware of it.

- Jay -

Ojima-ojo

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Quote from: ryzaadit on June 28, 2024, 02:02:38 PM

Yes, and you want to know some fun facts?

The first casino who have a feature including the resource income is (Stake). Check these out: https://stake.ac/responsible-gambling/calculator on there you have (Budget Calculator). You can set up based on your monthly income, and you can also limit your based on (Lose/Win) on https://stake.ac/responsible-gambling/gambling-limits.

Usually casino only have (Self Excluded) on their site for Responsible Gambling.

Thank you for sharing this stake features that calculate how much and what someone can gamble with aside from the popular self exclusion which seems to be the most popular feature among casinos, gambling should be based in all form of responsibility and not just that it should be done with little amount of money.

Since gambling is a game of either win or lose all, it is very important to make sure that we gambler with amount of money that we can easily let go of if we lose which we will eventually lose unless with high luck.

bering

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Allocating specific amount of budget while gambling is important because it can avoiding people to gets huge lost and being addicted besides that in my opinion gambling with the money we can afford to lose can lead people to more enjoyed about their gambling activities and feel the real entertainment of gambling because if they lost then it wouldn't be a big deal for them and i personally using this method to control myself in gambling

But i have to admitted that sometimes i personally didn't discipline to using this method because when lost sometimes i was very curious want to reversing my lost and using more money than budget limit i have set however i am not a gambler who had a habit can spend a lot of money so i have limited budget to gamble and usually everytime i starting togamble i was only used less than 2% from my monthly income

Franctoshi

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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.

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

The real truth or fact is that the majority of people that are into gambling don't actually always have that spare of funds to use, however there are times we have excess of funds coming in compared to what we usually have, So this is the time I normally spare part of this money into my gambling portfolio and regardless if we use spare money or allocate some percentage of funds from our income/earning, applying cautiousness is indeed necessary, else we might be tempted into touching the money which we aren't meant to use for gambling.

ryzaadit

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Yes, and you want to know some fun facts?

The first casino who have a feature including the resource income is (Stake). Check these out: https://stake.ac/responsible-gambling/calculator on there you have (Budget Calculator). You can set up based on your monthly income, and you can also limit your based on (Lose/Win) on https://stake.ac/responsible-gambling/gambling-limits.

Usually casino only have (Self Excluded) on their site for Responsible Gambling.

Obim34

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It should depend on the individual, whether in percentage or in spare funds the whole idea we are trying to capture is restraining from over or misuse of funds that supposed to serve for a more reasonable purpose now diverted into gambling.

If the gambler finds using percentage to limit him self from exceeding gambling budget then it's a good innovative, I fall under those who don't bother about percentage measures, after calculating my weekly or monthly budget, having my reserved/emergency funds kept aside, then I can decide whether to gamble, go out for some drinks and since it's kinda spare funds i feel more relaxed while gambling.

CryptoHeadlineNews

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

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

Weather using a specific amount of your monthly income or using a spare money, for me, what I always advise people as the ultimate rule for gamblers is to always gamble with the amount of money you can always afford to lose. Because if the spare money or certain percentage of your salary which you claim to use is not what you can always afford to lose, then such gambler is still likely to go bankrupt if he choose any of them without the application of this ultimate principle of gambling. Because just as our income and individual gambling desire varies, so will the amount people are willing to gamble with or lose also varies too. Hence, I will also like to correct the phrase about the money said to be "Not in used", because on the contrary, there is no money in the world that is not in used, as it's either the need for it hasn't arise yet or kept for other purpose.

Zlantann

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

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

I see spare cash as the money at your disposal after you have set aside funds that will be enough to cover your needs and savings until your next paycheck comes. A few years ago I used to have spare cash after I had taken care of my monthly budget. This extra bucks can be easily entertainment such as gambling and hanging out with friends in bars sharing few bottles of beer. But the bad economic condition that my country is facing have made survival very difficult.

Now my income is not even enough to cover my monthly needs. In this kind of condition, a gambling budget or plan is compulsory to avoid betting with what one cannot afford to to lose. I usually allocate some insignificant amount of my budget to gambling because it is one of my major source entertainment. Another reason why I still gambling regardless of the fact that having spare cash is difficult is because it bring some financial reward when I am lucky to win. There is no reason to doubt that having a gambling budget can help reduce the possibility of becoming a gambling addict.

taufik123

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It all depends on what percentage of each person's income is, I may only provide 0.9-1% for gambling.
It depends on what the purpose of the gambling is, the gambling I do is only for entertainment and does not push myself too much to get big wins.

Playing with 1% of the income is more than enough for just entertainment.
I will use the amount allocated to a minimum, play in some games and if there is a win it will go to other games.

Everyone has their own goals on gambling, so it's not the same how much they need for gambling.
But if someone is too addicted, they will put in all the money they have and bet with all that money, which is not good.

ShowOff

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The most important thing is not about what percentage of your budget you can get as a gambling budget, but having a budget limit is more important. Each gambler has their own budget strength and they must be able to limit their budget for gambling so that they do not immediately experience negative financial impacts. If it has to be a percentage, 1% to 5% depending on financial strength is enough as a gambling budget, but one can have more than that too.

I don't have a specific percentage, but I just limit myself and my budget to gambling as small as possible. Gambling isn't a regular activity for me every day, so I don't think much about how much I can spend when I really want to gamble. Having a budget limit on gambling is advisable, so I think it's much more important than arguing over the percentages.

Cantsay

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I no longer support the idea of having a fixed percentage; for me I just want to gamble so i might even go as low as 0.001% of my income or even lower and sometimes I can go as high as 4% or even higher it all depends on my goal, whether I want to go for a long play or just want to make parlay bets or few slots spins.

There are some people who make a large amount on a weekly basis, and if they start allocating percentages, you'll see that they'll end up spending more on gambling. Also, it's important to note that gambling is not something that is meant to be done every day, so the idea of using a fixed percentage makes it look like its now a mandatory thing to do.

Moreno233

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I voted 1-5% as I feel that anything within that amount is fine to be invested into gambling and if everything work out fine, that small amount can even generate far more than the total income. Secondly, that percentage is definitely less that the taxes paid in any country that I know of, so I will not call it being over-invested into gambling. The only challenge will be the ability of the gambler to maintain that amount because it is easy to make rules in gambling, keeping those rules is the major problem many gamblers face.

Adbitco

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Location of amount is when you don't want to start gambling out of your budget because there are some people who love to monitor and take account of their amount that is going out of their pocket mostly. When gambling for fun it makes it less worrisome than just gambling without control and culture, a responsible gambler minds the amount they gamble with be it free money spare money there must be a reason for all money that is used to gamble because lot of people needs to know where there money is entering. Like for me I don't gamble continually when there is no spare fund with me I wait till I have money this way it's hard for me to easily becomes gambling addiction.

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