Don't bet more than you can afford to lose. - page 10.

bekti3

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Quote from: abhiseshakana on January 06, 2022, 05:53:08 AM

If I get an income of $2000 dollars, then I will prioritize daily needs, bills, and other necessities, but I guess there will still be 30% left. So 15% can be used for savings and 15% can be used for gambling. $300 is a sufficient amount for gambling and if I can win then I will have more money to buy something I want (or just to save), but if I lose then it's okay.

this is a good thing but besides that $300 is enough because maybe you are not very deep in gambling and it is only used to relieve boredom after a month of tired work Cheesy

But for gamblers who are still addicted I feel this is certainly not enough for them because indeed there are even more than that maybe even $300 will only run out in a week or two.

but it is very good that you do percentages and calculations so that you can allocate from your monthly funds

Fredomago

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Quote from: virasog on January 06, 2022, 01:36:52 PM

Quote from: madnessteat on January 06, 2022, 01:07:07 PM

I allocate no more than $100 to gambling regardless of my monthly earnings. I can afford to gamble or bet on a sporting event a couple of times a month. Some month I don't gamble at all. It depends on my mood. But if I lose $100 in 30 minutes of play I never make a deposit - it's kind of a rule I don't break.

That's really great if you are disciplined in gambling and have allocated a fixed amount for gambling. Do you gamble 100$ in a single game or allocate a certain maximum amount in each bet ? Also i would like to know how much you are able to win monthly with 100$. Do you take out the profits out of gambling or add them in your gambling portfolio ? If you can share your good experience, it will be better for others to learn from your experience.

If understanding the gesture of his post, he mentioned that it depends on his moos, he can quickly lose that amount in an hour or in a day but he's just pointing out that $100 is the amount that he can afford to lose not sure though if that limits is for how long, Grin

but kidding aside, it's really important to have that kind of attitude when you are in this industry. Gambling is addictive. If you can't control your emotion, it will result in an unlikely outcome.

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Quote from: jhonjhon on January 06, 2022, 07:07:29 AM

Gambling is always comes with a high risk, because it is possible to never earn money or may lose money too. So if ever I have earn $2000 dollars a month, I will set aside my money first by saving it to cover all the daily needs of my famiy and emergency expenses.Then maybe I will bet 10% or 20% of my remaining money for gambling.

It is easier to say like that than doing it. Most people who have won big cash out or have been winning in gambling end up putting back huge part or all of the money into the bet with the hope for bigger win but luck go out of them and they lose. So it is not easy especially if it is an addict except you are a one time player that just played for fun by that way you may succeed not to play more.

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Quote from: stadus on January 05, 2022, 06:46:59 AM

We always read the words "Don't bet more than you can afford to lose", but are we really following that safe principle in gambling?

So, I have a question here, if you are earning like $2000 a month, how much are you willing to gamble that you think you can afford to lose?
Please use the amount as a basis for your answer.

That could be a great income a month especially here in my place and I’m sure you’re living on a good position having such monthly account but then again, you should always bet depends on what you can afford to lose and it should be your extra money. With that Monthly income, I can bet for a least $200 a month which I think is already fine for me to enjoy gambling and still have extra for some activities. You should know how to budget your income so you wont lose that much, and become a real rich someday.

poldanmig

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Quote from: stadus on January 05, 2022, 06:46:59 AM

We always read the words "Don't bet more than you can afford to lose", but are we really following that safe principle in gambling?

So, I have a question here, if you are earning like $2000 a month, how much are you willing to gamble that you think you can afford to lose?
Please use the amount as a basis for your answer.

Financial management in gambling is very important to be able to maintain the financial stability we have, gambling has a strong appeal to spend the money we have, so if we can't control it properly it will certainly make us bankrupt and fall into poverty, I'm as a person an inactive gambler, usually I only allocate money to gamble around $50 on the site and I only gamble with football bets, indeed sometimes I try to play slots but I don't bring more than $10 for the game.

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Quote from: madnessteat on January 06, 2022, 01:07:07 PM

I allocate no more than $100 to gambling regardless of my monthly earnings. I can afford to gamble or bet on a sporting event a couple of times a month. Some month I don't gamble at all. It depends on my mood. But if I lose $100 in 30 minutes of play I never make a deposit - it's kind of a rule I don't break.

That's really great if you are disciplined in gambling and have allocated a fixed amount for gambling. Do you gamble 100$ in a single game or allocate a certain maximum amount in each bet ? Also i would like to know how much you are able to win monthly with 100$. Do you take out the profits out of gambling or add them in your gambling portfolio ? If you can share your good experience, it will be better for others to learn from your experience.

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it goes back to how you manage it because of course you also have to think about the needs in your daily life.
but if i did have $2000 for a month then maybe only 5% i would have set aside for a month to be in gambling.
because even 5% I feel it's too big or even less because it's $100 in a month for gambling even if it relieves fatigue but still will feel sorry when I lose

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Quote from: abhiseshakana on January 06, 2022, 05:53:08 AM

$300 is a sufficient amount for gambling and if I can win then I will have more money to buy something I want (or just to save), but if I lose then it's okay.

If you are one of the big gamblers with higher addiction then maybe $300 won't be enough to gamble for a month. It really really depends a lot on one's gambling habits. But $300 is still safe enough to spend on gambling if we have an income of $2000 per month if we are not heavy addicts. I'm sure I can win something with $300 on sports betting, but it's a bit difficult to do on other games especially on luck based games like slots, dice, crash and others.

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I allocate no more than $100 to gambling regardless of my monthly earnings. I can afford to gamble or bet on a sporting event a couple of times a month. Some month I don't gamble at all. It depends on my mood. But if I lose $100 in 30 minutes of play I never make a deposit - it's kind of a rule I don't break.

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Quote from: Kakmakr on January 06, 2022, 06:44:36 AM

A lot of people in 1st world countries do not care about retirement plans and even care about their future, because they know the government will provide for them, if they reach an old age. Some of these countries have social grants that will pay them from other tax payers contributions and they even pay for their health care. Roll Eyes

Things are not as simple as you are pointing out, while it is true that many first world countries have some measures to help people that did not saved money for their retirement, at the same time the conditions in which a person like that will have to spend the rest of their life are not really that comfortable, it is best to save for your retirement even in a first world country so you can still enjoy life and be comfortable with yourself in your golden years.

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Quote from: stadus on January 05, 2022, 06:46:59 AM

We always read the words "Don't bet more than you can afford to lose", but are we really following that safe principle in gambling?

So, I have a question here, if you are earning like $2000 a month, how much are you willing to gamble that you think you can afford to lose?
Please use the amount as a basis for your answer.

I only earn about $1500 a month, and I only use $100 max to fund for my dice games for a month. $20 a week I use to fund my online gambling account, and spend 1-2 hours of playing dice and enjoying myself. Sometimes, I don't even play at all, but I don't carry over what I haven't used for the next week, as there isn't any reason for me to double down on my bet. I only play dice or any other casino games to kill time, as there isn't much to do around these parts, and it's hard to escape to the countryside on weekends and have myself some relaxing weekend drive due to the number of people going out at that time.

For me, anything above $100 per month on entertainment is indulgence. Heck, $100 is too much for entertainment IMO, but I've been used to this amount for so long that it becomes difficult to adjust the amount that I'm using to bet.

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Quote from: lienfaye on January 06, 2022, 03:12:50 AM

Quote from: stadus on January 05, 2022, 06:46:59 AM

So, I have a question here, if you are earning like $2000 a month, how much are you willing to gamble that you think you can afford to lose?

The $2k income for a month is huge enough already to sustain the needs of my family for the whole month. So what I will do is I will set aside first the needed expenses for food, bills, transpo and the budget for wants of my kids. I can probably save 40% as my savings and will set a 5% for my own leisure since I only gamble during off to my work and with limitation. Im not after to win big because what matter to me is to entertain myself. But of course who dont want to win in gambling right? Its just that im not hoping too much.

And I wonder what is the balance of the money spent / won from your hobby for games. Is it true that you are more consistently winning, or is it failing? I think if a person plays even with a small budget, about 5% of his total income, as you write, then this is most likely your payment for the entertainment and pleasure that you get by playing such gambling games.
And then, most likely (this is my guess) the balance of your winnings will be negative if, for example, you calculate it for the past 2021?
So how much will it turn out?

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Quote from: stadus on January 05, 2022, 06:46:59 AM

We always read the words "Don't bet more than you can afford to lose", but are we really following that safe principle in gambling?

So, I have a question here, if you are earning like $2000 a month, how much are you willing to gamble that you think you can afford to lose?
Please use the amount as a basis for your answer.

Thats not really the way I would look at things. It really depends on many factors like which country you are in, what is your debt situation, what is more important to you, your family status and so on... The real question when it comes to gambling bags each month should be: how much are you willing to lose? And I think that changes the answer to as little as possible. I would say no more than 10% of whatever is left over.

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Quote from: Vaskiy on January 05, 2022, 06:11:57 PM

I'm a problem gambler, I haven't set any limit. I've suffered big loss out of gambling, yet I used to spend big which means go out of control. Yesterday I lost three weeks campaign payment on Dice. I never intend to spend the entire amount, but when my predictions go wrong my intention to recover the lost funds make me go further emptying the wallet. Cry

Sad story, mate Sad

Have you tried changing this behavior? Even on this forum there are many threads devoted to this problem and it discusses different ways to avoid falling into these gambling traps. Still, I hope that, although this was a great loss for you, it still did not go beyond what you can afford.

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Quote from: stadus on January 05, 2022, 06:46:59 AM

We always read the words "Don't bet more than you can afford to lose", but are we really following that safe principle in gambling?

So, I have a question here, if you are earning like $2000 a month, how much are you willing to gamble that you think you can afford to lose?
Please use the amount as a basis for your answer.

If you have success in gambling like sports betting you can allocate as high as 50% I have a friend who's doing that, but for me who treat gambling as a way to get entertained, I can only bet 10%, we are in a pandemic we should always on saving mode and 105 of what I'm earning a month is enough for a moderate gambler like me, but sometimes I go a little higher if there are some big events on the casinos I'm playing.

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Quote from: stadus on January 05, 2022, 06:46:59 AM

We always read the words "Don't bet more than you can afford to lose", but are we really following that safe principle in gambling?

So, I have a question here, if you are earning like $2000 a month, how much are you willing to gamble that you think you can afford to lose?
Please use the amount as a basis for your answer.

This advice is not only true and important for gambling but of course also for investing into cryptocurrency in general as the market is so extremely volatile. The last few days have proven that as well with the prices being down more than 10% within less than 24 hours. To your question and example: It is not that easy to answer because we would also need to know how many fixed costs you have every months so let's say you have to pay 800$ per months for rent, then let's say 200$ for electricity and water and then another 100 $ for internet, telephone, netflix and stuff like that and then probably another 400$ per months for all the other stuff like clothing, food and so on. This would mean that you have 500$ per months that you could theoretically use for gambling, but in reality you probably need to put aside at least 400$ per month aside to build up some savings and for unforeseen stuff, so you would have like 100$ per months for gambling left and you would not need to worry if you would lose that money.

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Quote from: D-law on January 06, 2022, 08:04:52 AM

That a cool one at the end of every month, $358 of the $2000 is a good amount to stake with
Like I can be very careful when it comes to gambling and making bigger stakes.
It all depends on how much you have got to spare. Therebare people ready to use all of the $dollars.

not only that, but it's also important that you know how to control yourself, otherwise you'll run out of money because you might gamble on everything you have. Also, more opportunities to gamble if you have a credit line but it would result in the worst outcome with a lack of discipline.

D-law

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That a cool one at the end of every month, $358 of the $2000 is a good amount to stake with
Like I can be very careful when it comes to gambling and making bigger stakes.
It all depends on how much you have got to spare. Therebare people ready to use all of the $dollars.

Yamifoud

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Quote from: jhonjhon on January 06, 2022, 07:07:29 AM

Gambling is always comes with a high risk, because it is possible to never earn money or may lose money too. So if ever I have earn $2000 dollars a month, I will set aside my money first by saving it to cover all the daily needs of my famiy and emergency expenses.Then maybe I will bet 10% or 20% of my remaining money for gambling.

That's great, savings is very important as we never know what lies in the future. Everything will be fine if we have enough savings and if we also know how to budget our funds, we will never run out of money for gambling purposes, and I think 20% is quite high but acceptable for me.

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Quote from: Kakmakr on January 06, 2022, 06:44:36 AM

A lot of people in 1st world countries do not care about retirement plans and even care about their future, because they know the government will provide for them, if they reach an old age. Some of these countries have social grants that will pay them from other tax payers contributions and they even pay for their health care. Roll Eyes

People should not gamble, if they cannot afford any of their daily needs.... period! Go to the chat channels on these gambling sites and just see what some of these people post... it is scary what people do to gamble. Angry

It's contrast on what I have know about people in first world countries because I heard and read in most article that they are the people who really pay attention to their retirement plans and care about their future even it is given that their government will provide them in their medical needs when they get old. Going back to the thread yes it is advisable not to bet more than on the amount that you can afford to lose because if that happen you'll be fall into debt.

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