Don't bet more than you can afford to lose. - page 12.

BuNga_cute

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Quote from: Vaskiy on January 05, 2022, 07:11:57 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

I'm sorry for what happened to you, sometimes we have trouble controlling ourselves when gambling. What you have experienced must have
been experienced by many other gamblers too, the most important thing is that you can learn from your mistakes and don't repeat them again.
Next time you are going to gamble you have to learn to limit the amount of capital you will use to gamble, so you will not experience big losses.
I understand how it feels when you lose playing Dice, it feels like you really want to chase the win and manage to cover our previous losses.
But we must understand that any gambling game, in the end we will lose if we chase victory. So don't be obsessed with winning when playing
gambling, think of it as entertainment, that way it's easier for us to control ourselves when gambling.

Sled

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Quote from: stadus on January 05, 2022, 07:46:59 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.

10-20% that is something enough, I can't bet more than that amount.
It is something we need to be wise in terms of spending our hard earn money because $2,000 is not huge enough to make our leisure, that unless if it was net income of the family. But even it looks like that, gambling addiction should be minimized and should be controlled. It was common wrongdoing that gamblers will bet more than the earnings they've got.

sunsilk

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Quote from: stadus on January 05, 2022, 07:46:59 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.

5%-10% is what I can spend on it.

In that case for $2k that will be $100 for 5% and $200 for 10%. That's my standard but it can change anytime based on my mood because sometimes I'm too emotional and I can't stop myself when something triggers me.

Especially when I'm in a losing streak and I guess everyone is having the same problem as me. That's why I'm just controlling it at the beginning and won't go further as much as I can.

Vaskiy

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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

coin-investor

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Quote from: stadus on January 05, 2022, 07:46:59 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 always go on a percentage basis so if I'm earning $20k a month although it's already a huge amount of money here in our country I'll allocate 15% to my gambling activity but will have an additional 5% in case that 15% did not reach a month but I will not go beyond that if we are going to follow that principle "Don't bet more than you can afford to lose", we must be dedicated to that principle and have control on how we gamble.

Rengga Jati

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Quote from: stadus on January 05, 2022, 07:46:59 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?

Exactly, normally we will use this kind of advice, not only in gambling but also for trading and investment.
Losing is something bad that can make somebody feel stressed. That is why I personally think it is better to lose the amount that we can exactly afford, not to force at all on what we cannot afford.

Quote from: stadus on January 05, 2022, 07:46:59 AM

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

Again, as others say, it will depend on what each individual can afford to lose.
We can ensure that we will earn $2000 per month because this is gambling.
However, if my target is about that amount, but I am such a person who doesn't want to lose much, I will not bet more than $100 moreover per day.
Gambling is very risky, if we want higher-earning, we must be ready to lose more. That is why it once again will depend on you.
And please note that gambling will not guarantee you to get always $2k per month.

Yogee

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Quote from: Quidat on January 05, 2022, 06:16:07 PM

Quote from: Yogee on January 05, 2022, 06:02:16 PM

Here's what I have in mind ideally,
Fixed monthly income - Fixed personal savings = Expenses and leisures.

Betting falls under leisures in my book. I said "ideally" above since I don't follow it a 100% hehe.

Monthly income - savings - investment - leisure and wants.

This is the arrangement when it comes on salary allocation on different or various parts and should follow it up if you dont like on ending up on being broke.
Manage your finances well and you wouldnt really be having a problem on sustaining yourself on living as long gambling wont
really affect you majorly.

I'd rather not have someone tell me what to do with my money unless I asked for it to be honest. What you said is good ideally but apply that to yourself first then start teaching it once you made it. What I mean when you "made it" is if you're no longer meeting weekly post quota to earn from signature campaigns.

Quidat

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Quote from: Yogee on January 05, 2022, 06:02:16 PM

Here's what I have in mind ideally,
Fixed monthly income - Fixed personal savings = Expenses and leisures.

Betting falls under leisures in my book. I said "ideally" above since I don't follow it a 100% hehe.

Monthly income - savings - investment - leisure and wants.

This is the arrangement when it comes on salary allocation on different or various parts and should follow it up if you dont like on ending up on being broke.
Manage your finances well and you wouldnt really be having a problem on sustaining yourself on living as long gambling wont
really affect you majorly.

wxa7115

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Quote from: stadus on January 05, 2022, 07:46:59 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.

The standards of each person are different however I spend roughly 10% of my income on what I call luxuries, stuff that I do not need but that is nice to have and that bring me joy, so this will give me 200 dollars to spare according the the monthly sum you are using as a point of reference.

However I would not spend those 200 dollars just on gambling, after all there are many simple and little things that I enjoy, however I will probably use a quarter of that to gamble each month, which as you see it is no really a big amount as it is only 2.5% out of the 2000 available on the scenario you are bringing.

Yogee

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Here's what I have in mind ideally,
Fixed monthly income - Fixed personal savings = Expenses and leisures.

Betting falls under leisures in my book. I said "ideally" above since I don't follow it a 100% hehe.

Slow death

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I agree that you shouldn't bet money that you use for other things or money that would be used to pay bills. I've already happened to win a lot and have made a profit of 8X in just a few days, at the time I thought: "this kind of luck I won't have many times so I took everything I won and left only $120 " It's funny and then came the sequel of losses and I lost all $120 and had to make another deposit of $40 and go back to playing with a small bankroll and when all $40 is gone I stop for a few days until I have some extra money to play

DoublerHunter

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Quote from: stadus on January 05, 2022, 07:46:59 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 think it depends on status in your life if you have your own family (wife and kids) the allocation into gambling is probably less or almost nothing because your priority is them, not your happiness. In $2000 a month that you earned in your real job probably 2-3% on it I can afford to gamble but not every month I think. But if I don't have a family (not married) but I earned on that amount monthly, probably 30% on it I can afford to lose in gambling and probably more than that. In gambling, we should set a limit in ourselves and do first our responsibilities and priorities before those risking money, because gambling does not have a guarantee, it will win or lose at any time.

milewilda

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Quote from: stadus on January 05, 2022, 07:46:59 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 would just spent out $100 maximum for a month. Sounds too small? Yes, since this is the only amount which i could really afford to lose and wont tend to go
overboard yet there are lots of priorities in life which i would need to arrange it up rather than spending more just because you do have 2k per month?
I would say that this would really be just sufficient for me to save up for priorities plus minding about making out some business in real world.

Zilon

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Quote from: stadus on January 05, 2022, 07:46:59 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?
Please use the amount as a basis for your answer.

The goal is to play safe With $2000 you should be able to afford to lose atleast 20% which is $200 each month while you spread your funds across other investment options. The gambling sector is always opened and any day could be your lucky day playing safe and keeping your stakes affordable and stress free will be best. Personally I can't gamble above 20% of my income as I understand the risk involved in gambling knowing too well it's a game of chance

hyudien

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Quote from: stadus on January 05, 2022, 07:46:59 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.

Personally for me, when the income is around $2000 per month, this is a pretty big allocation. However, in making bets we as much as possible limit spending in a month. If it is calculated from the income of $ 2000 then what comes to my mind is to divide it 50% for savings, 10% for daily needs, and 30% for investing and the rest is enough for betting. Why only 10%, back to the first rule that bet according to what we are prepared to lose. So the saying above is quite reasonable and remains a principle for a gambler to avoid addiction. Then as a way to limit yourself from excessive betting.

goaldigger

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Quote from: stadus on January 05, 2022, 07:46:59 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 has been a reminder for every gambler since then, we should always play at limit and know how to control ourselves, because in gambling too much is too risky. It I earn that much money a month, I’ll list down first my monthly expenses and savings before anything else, usually I ended up with no extra but if sometimes I was able to gamble for at least a $100 a month, not bad for a small time gambler like me and more importantly, I’m having fun with that.

Fortify

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Quote from: stadus on January 05, 2022, 07:46:59 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.

When you're earning that sort of money, depending on your outgoings (rent, food, phone, etc.) then you should probably be focusing your money into building a long term future rather than chasing money in casinos. If you're happy to lose it all, which seems slightly wasteful when you could build it into a much bigger amount over time, then you should probably max out at $50 per month. Maybe even just $50 every two months is what a sensible person should be limiting themselves to on such a salary. Unless you are a highly skilled poker player, or possess some other reliable gambling talent, then you are most likely going to lose a fair chunk of money over time and unlikely to make much back.

Oasisman

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Quote from: stadus on January 05, 2022, 07:46:59 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.

Ok base on the amount you have provided, I guess there could be enough budget I could burn in gambling with that base amount.
Let's say, my necessities, bills, & other expenses is not more than $1,000 (that's my real life budget for these expenses). So, I still have another $1,000 spare amount to spend into something that I want. So, what I want to do is to put half of it into savings and another half to gambling.
$500 is more than enough of a budget in my economic state.
There are rich people like business man and big names in the government are actually gambling $20,000 in one occasion and above. That's actually a small amount for them, but not for me lol.

nakamura12

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That's just a small part of this one "Don't gamble what you can't afford to lose" so don't bet more than you can afford to lose is just a sub category as I call it. It's not just in gambling casinos that saying fit. Even in investing, trading and other ways that will put your funds at risk. I always put a little bit of my overall funds and divide it according to my budget. For example, my salary is 2000 dollars so, 10% is for gambling, 20% wants, 50% needs such as water, food and bills, other w
20% is for savings. Anyway, that's just an example for you me to explain it nicely.

coco23

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Quote from: Hypnosis00 on January 05, 2022, 12:13:35 PM

I don't want to talk about losing because I always hope to win.

The amount that I can afford to lose is maybe $200, that's 20% of my total money income but it's not for a single bet, that's most likely my total bankroll. Maybe it's big for others but in order to be serious in gambling especially in sports betting, you also have to ensure to put a decent amount of money.

Well I guess for Gambling the same rules apply than for crypto investing in general. I wouldn't gamble all my money on the same bet or by investing all in only a single S**tcoin Grin

The problem with Gambling is that you can lose a lot of money very quickly, sometimes in a matter of minutes, so it's good to have a strategy planned out and stick to it.

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