Topic: Don't bet more than you can afford to lose. - page 2. (Read 1352 times)
The funny thing is when starting off to gamble we always have a plan not to wager more than one can afford to lose, but fortunately after a few gaming rounds we find ourselves winning and then the temptations to wager more than usual kicks in and we know how this ends... thats how greed gets the better of us and we lose it all in the next few rounds of play and wish we didnt play any of the games at all. But then again you cant win if you dont play.
The only people who can afford to gamble with more than they have are movie characters. I have never heard that someone took a credit, won a bet, returned credit and lived a long and happy life. The number of happy gamblers are greatly lower to those who lost. If a person cant live without gambling, he must train feeling of fullness, set limits. People must realize, when they gamble, they are alone against a whole system. Even if they won, the casino still wins. Not today, but next time definitely.
I agree that this is probably quite rare and most of the people who gamble on credit will end up being ruined
just remember that just because we haven't heard of them this doesnt mean they don't exist.
The only people who can afford to gamble with more than they have are movie characters. I have never heard that someone took a credit, won a bet, returned credit and lived a long and happy life. The number of happy gamblers are greatly lower to those who lost. If a person cant live without gambling, he must train feeling of fullness, set limits. People must realize, when they gamble, they are alone against a whole system. Even if they won, the casino still wins. Not today, but next time definitely.
Today people are now having some tired situation due to quarantine and of course, they are looking for something to entertain themslves and one of this is playing gambling which is really the objective of the gambling platforms to give entertainment to their players at the same time to earn. Some of them already addicted and cant control themselves on playing too much and lose and wage most of their assets just to satisfy themselves, this kind of action requires a guide and self-awareness better to stop and cure imemdiately this kind of addiction. There are friends and family that helps to find hobby which is not as expensive as gambling.
I think that this thread will to some extent make people who do not plan their expenses aware that it is very important. Anyone who carelessly spends money gambling is at risk of becoming addicted sooner or later. Sticking to a budget plan is a very important aspect to see the limits.
Hopefully, they can be aware that managing their funds in gambling is very important and only gambling using the money they can afford. Some people who have many experiences can be aware and realize but the other people, especially new people, will not think much about this and will have the same problem as other people before. We can only remind everyone in this forum and people around us to always take care of their money while they are playing gambling and the rest will be up to them because we can not force them to follow our suggestions. Even the gambling industry they sing bet responsibly as their motto, every gambling should get the understanding that betting with money that cannot be afford to lose is nothing but greed. Greed is what makes one to use all what is available to gamble.
This is very true. However, we should be aware of this and if we have limited funds, we should plan them and not get carried away.
If our financial situation at some point is difficult, then we should not risk money in the casino. That is why we should decide how much we can spend on gambling in a given month.
If we don't limit the amount of money we will use to gamble, will only make us spend more money than the original plan. Because after all
gambling will make us addicted and we sometimes have difficulty controlling ourselves when gambling. But if we provide a certain budget
from the income we get for gambling, it can at least control ourselves to stop playing gambling if our budget runs out. But even that requires
a strong commitment, so that we use our money to gamble according to a predetermined budget.
I think that this thread will to some extent make people who do not plan their expenses aware that it is very important. Anyone who carelessly spends money gambling is at risk of becoming addicted sooner or later. Sticking to a budget plan is a very important aspect to see the limits.
you into more severe problems which would definitely make you regret towards your decisions. Spent only the amount which you can afford to lose and dont go beyond
limits and prioritize things and dont mind off that much about leisure because it woudl really be just putting you in trouble.
Even the gambling industry they sing bet responsibly as their motto, every gambling should get the understanding that betting with money that cannot be afford to lose is nothing but greed. Greed is what makes one to use all what is available to gamble.
This is very true. However, we should be aware of this and if we have limited funds, we should plan them and not get carried away.
If our financial situation at some point is difficult, then we should not risk money in the casino. That is why we should decide how much we can spend on gambling in a given month.
If we don't limit the amount of money we will use to gamble, will only make us spend more money than the original plan. Because after all
gambling will make us addicted and we sometimes have difficulty controlling ourselves when gambling. But if we provide a certain budget
from the income we get for gambling, it can at least control ourselves to stop playing gambling if our budget runs out. But even that requires
a strong commitment, so that we use our money to gamble according to a predetermined budget.
I think that this thread will to some extent make people who do not plan their expenses aware that it is very important. Anyone who carelessly spends money gambling is at risk of becoming addicted sooner or later. Sticking to a budget plan is a very important aspect to see the limits.
Even the gambling industry they sing bet responsibly as their motto, every gambling should get the understanding that betting with money that cannot be afford to lose is nothing but greed. Greed is what makes one to use all what is available to gamble.
This is very true. However, we should be aware of this and if we have limited funds, we should plan them and not get carried away.
If our financial situation at some point is difficult, then we should not risk money in the casino. That is why we should decide how much we can spend on gambling in a given month.
If we don't limit the amount of money we will use to gamble, will only make us spend more money than the original plan. Because after all
gambling will make us addicted and we sometimes have difficulty controlling ourselves when gambling. But if we provide a certain budget
from the income we get for gambling, it can at least control ourselves to stop playing gambling if our budget runs out. But even that requires
a strong commitment, so that we use our money to gamble according to a predetermined budget.
Even the gambling industry they sing bet responsibly as their motto, every gambling should get the understanding that betting with money that cannot be afford to lose is nothing but greed. Greed is what makes one to use all what is available to gamble.
This is very true. However, we should be aware of this and if we have limited funds, we should plan them and not get carried away.
If our financial situation at some point is difficult, then we should not risk money in the casino. That is why we should decide how much we can spend on gambling in a given month.
If we don't limit the amount of money we will use to gamble, will only make us spend more money than the original plan. Because after all
gambling will make us addicted and we sometimes have difficulty controlling ourselves when gambling. But if we provide a certain budget
from the income we get for gambling, it can at least control ourselves to stop playing gambling if our budget runs out. But even that requires
a strong commitment, so that we use our money to gamble according to a predetermined budget.
Even the gambling industry they sing bet responsibly as their motto, every gambling should get the understanding that betting with money that cannot be afford to lose is nothing but greed. Greed is what makes one to use all what is available to gamble.
the majority of those who lose gambling and suffer heavy losses are those who are not able to manage their emotions and are very greedyGambling with money that can not afford to lose will only lead to failure because our minds are not comfortable when gambling under that much pressure
peace of mind is the key to winning in decision making when gambling
This is very true. However, we should be aware of this and if we have limited funds, we should plan them and not get carried away.
If our financial situation at some point is difficult, then we should not risk money in the casino.
Well, you're telling it right and that's exactly where the others are struggling about. Despite their financial difficulty, they're still getting some funds for themselves to gamble and the bad thing about it is they can't control themselves in having those funds which is particular for other things.If our financial situation at some point is difficult, then we should not risk money in the casino.
That is why we should decide how much we can spend on gambling in a given month.
We really have to. If you have no plans how much your budget will be, daily, weekly or monthly, you're just going to spend as much as you can. Even the gambling industry they sing bet responsibly as their motto, every gambling should get the understanding that betting with money that cannot be afford to lose is nothing but greed. Greed is what makes one to use all what is available to gamble.
This is very true. However, we should be aware of this and if we have limited funds, we should plan them and not get carried away.
If our financial situation at some point is difficult, then we should not risk money in the casino. That is why we should decide how much we can spend on gambling in a given month.
Even the gambling industry they sing bet responsibly as their motto, every gambling should get the understanding that betting with money that cannot be afford to lose is nothing but greed. Greed is what makes one to use all what is available to gamble.
the majority of those who lose gambling and suffer heavy losses are those who are not able to manage their emotions and are very greedyGambling with money that can not afford to lose will only lead to failure because our minds are not comfortable when gambling under that much pressure
peace of mind is the key to winning in decision making when gambling
Even the gambling industry they sing bet responsibly as their motto, every gambling should get the understanding that betting with money that cannot be afford to lose is nothing but greed. Greed is what makes one to use all what is available to gamble.
It's very basic. It's the fundamental rule in gambling, although not really practiced by so many gamblers in real life. The money that you are going to bet, consider it gone before you even place the bet. So if you are betting with an amount that is supposed to be used for something else, then consider failing to buy that which you are supposed to buy. Lest we forget it, gambling is wasting money more than earning it. So, gamble only any excess.
I like this way of thinking because I try to do it myself. If we assume in advance that the money we spend on gambling is wasted, we react less emotionally when gambling.
When determining the monthly budget, it can be very helpful, because if we know what bills we have to pay, we can determine that, for example, we can lose $100 for gambling.
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.
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 there are countries where $2k a month is more of an average salary, and there are places in the world where the same amount will make someone rich. The point is that the cost of living in poor countries is low, so paradoxically the poor can afford to spend more on gambling than someone who lives in a highly developed country.
Even so, I think it's best to use common sense and not to spend more than 10% of income.
Of course it all depends on your current expenses. For example, if someone is in debt, it would be foolish to risk money in gambling. 10% seems okay to me when you have free funds and you like to spend your time just by having fun at an online casino.
it comes to gambling then it wouldnt really be a good idea that you should really be dealing with it yet spending would be out of control and as long you do have the money to spent then you would really be keeping
on doing that.Use the amount which you can afford to lose and be sure that you wont really be affecting your primary needs and savings then you should be fine.
I tried several times to play patiently,setting a daily,weekly and monthly bankroll and tried to stick to them if I lost (but not if I won) and that destroyed me.When I was winning the euphoria got the best out of me and I started increasing the bet or playing not so concentrated at what I was doing and soon enough I saw the bankroll at zero.
I am still trying different ways on how to have greater self control when winning but yet I am not able to do so.
I am still trying different ways on how to have greater self control when winning but yet I am not able to do so.
That's the thing with gambling, even in a highly skilled game like poker. You can be the best player in the world, knowing all the odds and the correct pot odds bet for every scenario, but unless you have the patience then it can all be for nothing. It really does become like a job and one that you have to grind at every day, which can strip the whole element of fun or entertainment from it. At that point they're not even gambling any more, but making business like decisions and working with the correct bankroll is critical as well. Outside of skill based games you are literally burning your money in the long term, because they know that even a tantalizing win will just be spent on more gambling and the definitely profile players in this way.
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.
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 there are countries where $2k a month is more of an average salary, and there are places in the world where the same amount will make someone rich. The point is that the cost of living in poor countries is low, so paradoxically the poor can afford to spend more on gambling than someone who lives in a highly developed country.
Even so, I think it's best to use common sense and not to spend more than 10% of income.
Of course it all depends on your current expenses. For example, if someone is in debt, it would be foolish to risk money in gambling. 10% seems okay to me when you have free funds and you like to spend your time just by having fun at an online casino.
Gambling is not an investment. Investment is an investment of funds for the purpose of making a profit.
The investor always has a well-grounded plan according to which he will make a profit. This plan is based on mathematical and economic calculations. The investor controls the process of making a profit. He doesn't rely on luck.
Gambling is a direct interaction with chance (luck, fate). The player has no control over the end result of the gambling game.
This is the key difference between investment and gambling.
you are right, there are crossovers in term of risk management and managing bankroll but mindsets are really different
investors usually think about the downsides too and are prepared in case of losses, something that gamblers should do
as mentioned many times here: planning a max amount to lose is quite helpful.
I do consider the chance of losing although I'm very optimistic when I'm gambling. As they say, bet what you can afford to lose only, we should strictly follow that rules as that's for our own good only. We can aim for a bigger winning but we should do it slowly and consistently, if we are good enough unlike the majority of gamblers, then eventualyl we will reach to the point that we become successful.
I tried several times to play patiently,setting a daily,weekly and monthly bankroll and tried to stick to them if I lost (but not if I won) and that destroyed me.When I was winning the euphoria got the best out of me and I started increasing the bet or playing not so concentrated at what I was doing and soon enough I saw the bankroll at zero.
I am still trying different ways on how to have greater self control when winning but yet I am not able to do so.
It's very basic. It's the fundamental rule in gambling, although not really practiced by so many gamblers in real life. The money that you are going to bet, consider it gone before you even place the bet. So if you are betting with an amount that is supposed to be used for something else, then consider failing to buy that which you are supposed to buy. Lest we forget it, gambling is wasting money more than earning it. So, gamble only any excess.
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