Don't bet more than you can afford to lose. - page 7.

michellee

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Quote from: fortunecrypto on January 07, 2022, 07:02:07 PM

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 hate losing but its a part of gambling that you can't avoid that amount is a huge amount if converted to our currency, in reality, I allocate 10 to 15% of my earnings for a whole month and if there are events on a particular month then that's the time I add more like the December events where casinos are giving a lot of bonus for waging more, but I always follow the golden rule of only betting what you can afford to lose.

No one likes losing, especially in gambling games. But you can minimize your losses if you can control your money and games and not use more money. As long as you can follow your own rules, only betting what you can afford to lose, you will be okay and will not think about depositing more money when you lose all of your money.

But we know that sometimes we have a curiosity that can defeat our limit and make us break our rules. Without having strong control for ourselves, it will not be easy to say stop to ourselves instead will try to deposit more than our limit. Once that happens, we will not follow the rules.

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Quote from: fortunecrypto on January 07, 2022, 07:02:07 PM

but I always follow the golden rule of only betting what you can afford to lose.

Please tell me, what figures can we define that the amount is within the amount we afford to lose?

Does it have specific figures? Exact amount? Are we sure after betting a loss, you won't make another one because that was the limit? I doubt.

There is no amount that we afford to lose - technically. We are betting based on our currently hold money. No exact allocation, no specific budget.

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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 hate losing but its a part of gambling that you can't avoid that amount is a huge amount if converted to our currency, in reality, I allocate 10 to 15% of my earnings for a whole month and if there are events on a particular month then that's the time I add more like the December events where casinos are giving a lot of bonus for waging more, but I always follow the golden rule of only betting what you can afford to lose.

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Quote from: poldanmig on January 06, 2022, 01:49:16 PM

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.

Yes, financial management is needed for a gambler to gamble profitably but trust me it is not enough to make gamblers avoid the habit of overspending or bet more than they can afford to lose when the game buzz/fever takes over.
I believe the vital thing that every gambler needed in other not to spend what they cant afford to lose is understanding the concept of gambling with self-discipline which I believe will make them face the truth and control their buzz.

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Quote from: Quidat on January 06, 2022, 04:30:14 PM

Quote from: boyptc on January 06, 2022, 04:04:45 PM

Quote from: poldanmig on January 06, 2022, 01:49:16 PM

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.

In gambling it's bankroll management.

But it's true that it's very important when you gamble because you may find it unnoticed when you're also touching the funds that you shouldn't. This happens most of the time to many gamblers.

Because they are not monitoring and checking themselves if they're still gambling with their budget on their bankroll, they're falling into the trap of spending funds that they shouldn't.

Like a casual gambler, you have small amount to gamble with and that's good and it means that you are still in control.

Handle your finances well because if not then you would be fucked up by gambling.Gamble on the amount which you can afford to lose because if not then you would really be experiencing
problems which in related with gambling addiction.You would make use of those money which are intended or allocated for savings or emergency funds and if you dont have a good
control of yourself then you would really be ending up on spending those funds which it isnt a right thing to be done.

It's the mistake that many gamblers have fell.

They've used the money that isn't for gambling because they haven't controlled themselves. And there will always be those gamblers that would tell themselves that they won't go further if they no longer have money to gamble and won't spend the funds allocated for other important things.

But in the end, they break their own promise.

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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?

In my case, it's not that a decent amount that sometimes I'm putting at my bet is I afford to lose but whenever I feel it and do think that the chances of my winning are high, I'm really a risk-taker.

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?
Please use the amount as a basis for your answer.

Based on the given amount, for example, it still depends on how much I want to want to put in on a given bet. Let's say for example, I was attracted by good odds, I'm willing to bet up to $100 on it regardless of my capital.

I don't have the principle of betting just the amount I afford to lose. I will bet at any amount and besides, I'm always serious at my analysis.

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Quote from: Japinat on January 06, 2022, 05:39:12 PM

Quote from: batang_bitcoin on January 06, 2022, 05:15:57 PM

Quote from: johhnyUA on January 06, 2022, 04:41:07 PM

This is not the first topic with such question. I had told this few times before, but should repeat: Do not spend more like 10-15 % of your earnings on gambling. With 2000 dollars it will be like 200-300 dollars per month. If you're spend bigger amounts, i thing you're a bit addicted to gambling.

That amount is already acceptable but IMO, someone who's addicted to gambling will really rely on how much he gambles. Maybe that person who spends that much can be said as addicted but also, in small amounts, someone can also be addicted.
If he's doing that everyday and most of the time, despite doing it with a small amount but the activity has increased overtime, that can also be considered as addiction.

It's okay to gamble on a daily basis as long as you stay with your limit, going beyond that will already result in a problem unless you are very profitable in gambling which is not the case for most of us since we know that gambling sites are profitable and we are just most likely losers.

We don't talk about winning here, most of the time we talk about losing that's why it's necessary to have a certain budget in gambling so it will not affect the entirety of our life if we lose.

Yes, nothing wrong if you bet as much as you can on a daily basis but make sure that it's intact with the budget your set. But if you're going wrong and you're gambling too much, you have to change your activity and lessen it if it's already affecting your tight budget.
It's where many gamblers are caught wrong when they gamble on a daily basis and when they're out of funds, they'll still continue and use the budget that's out of their plans.

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Quote from: johhnyUA on January 07, 2022, 04:39:54 PM

Quote from: Hypnosis00 on January 07, 2022, 04:30:47 PM

10 % is not a high amount unless you are really forced yourself to gamble despite the bills you have to pay.

If you have bills (or debts) to pay, you shouldn't gamble at all, your limit should be 0 % Cheesy

I think we are talking about situation when 2000 dollars is enough for your comfort living and you have some money to spend for entertainment.

And yeah, as i said previously, 10-15 % it's maximum limit

^ This is a very clever move and definitely right, why you need gamble if you have those priorities and responsibilities that need to pay in order to have a comfortable living. This is why entertainment or any extra activities should always be behind on your priorities because we need to live first. People have a miserable life because of gambling, they have ruined their life because of gambling because they don't have a control on it. Though gambling is good if you know how to put control yourself and you will be fine.

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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.

In my opinion, it is also very important how often you play during the month.
We can assume that you only play once a month, or that you can allocate a certain sum for all the times you play during that month.
It is also very important what your expenses are and how much of this sum you are able to save per month.
Of course, a lot depends on what part of the world someone lives in, so probably almost everyone will answer differently.
As for me, with an income of $2000, a safe amount that I could lose is around $250 (I think that 10% should be acceptable for everyone). If I lost $500 it would be quite unpleasant for me.

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Quote from: Johnyz on January 07, 2022, 04:35:19 PM

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.

Being greedy is a bad idea same thing with gambling out of your budget, which makes the situation more worst. $2000 monthly income is not small at all especially if you are in a 3rd world country so having that money should not put into gambling at as one time big time, maybe I can gamble for $100 only, because I’m not into gambling that much and I rarely gamble just for fun only.

That’s why you have to spend the money properly because in gambling if you carried away and don’t know how to budget and control yourself, you can lose that all money and you’ll keep on doing that every Month which is not healthy anymore. If you want to become successful in life, you have to manage your money properly and spend it wisely, gambling should not be your priority, this is also the lesson I’ve learned living on a not so much country where opportunity is less.

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Quote from: romero121 on January 07, 2022, 07:57:33 AM

Quote from: TravelMug on January 07, 2022, 07:10:06 AM

I understand and it's so true, instead of enjoying, sometimes it really adds anxiety, maybe you really feel bad because you lost eventhough the amount is really small or just that you can't afford to lose the money you gamble. In any case, still individual preferences in my opinion, maybe certain people can make $2k a month and then play $1k in gambling or $100. Personal experience though, I usually don't lose big, $50 is enough for me to gamble like every month.

You're good, and the best thing I find is the betting amount. You've got the ability to restrict yourself within the $50 which is really good. Myself have the same mentality, but I wasn't able to keep myself within control. Two days back set a limit of making just $1. In the event of making $1, I lost $135. Started with $1 and it counted when the bets continued to loss. If I've got your mind I could've saved $85

In a way this kind of common, after all it is not rare for a person to tell themselves they will only gamble a specific amount of money and then on the heat of the moment they decide to gamble a lot more than what they wanted, and then once they suffer big losses they regret what they did, it is because of this that it is important to never deposit at the casino more money than what you plan to gamble during that session, so you can avoid scenarios like the one you are pointing 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.

Probably <$50.

It honestly depends on where you live and what your expenses are, though.

If you live in a super cheap country with insanely low living expenses you may be able to get away with playing with $100-200 per month, whereas if you live somewhere that is a bit more expensive you may not want to set aside anything for entertainment at all.

I also don't think that it's healthy to set a steady budget for gambling each month. Have a cap on your gaming volume but don't necessarily commit funds to it regularly.

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Quote from: Hypnosis00 on January 07, 2022, 04:30:47 PM

10 % is not a high amount unless you are really forced yourself to gamble despite the bills you have to pay.

If you have bills (or debts) to pay, you shouldn't gamble at all, your limit should be 0 % Cheesy

I think we are talking about situation when 2000 dollars is enough for your comfort living and you have some money to spend for entertainment.

And yeah, as i said previously, 10-15 % it's maximum limit

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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.

Being greedy is a bad idea same thing with gambling out of your budget, which makes the situation more worst. $2000 monthly income is not small at all especially if you are in a 3rd world country so having that money should not put into gambling at as one time big time, maybe I can gamble for $100 only, because I’m not into gambling that much and I rarely gamble just for fun only.

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Quote from: johhnyUA on January 07, 2022, 04:25:47 PM

Quote from: milewilda on January 07, 2022, 02:31:09 PM

Even 10% would really be already high if we do consider out on having a sensible gambling on where we do only spent out % which wont really be going above with those numbers which i would say a must thing to be done for everyone so that you wont really be ending up on having a gambling problem when it comes to finances. Spent on the amount which you can afford to lose and
dont tend to go beyond with those budget you do have.Neither you are winning or lossing then you should stop and stick to those limits.
Dont let your greed control or overcome you so that you wont really be having problems.

Can't agree. 10 % is an amount per month, so from OP condition about salary of 2000 dollars, this will be like 50 dollars per week (200 / 4 ). Not so much, yeah?

For example, in Bitcoin poker series buy in was like 20-25 dollars. So 50 dollars per week is one poker tournament and few iteration on slots.

10 % is not a high amount unless you are really forced yourself to gamble despite the bills you have to pay. it's per month and not per bet, so there's a huge difference between the 2. that 10% of $2000 is $200, you can consider it as your bankroll in a month for whatever gambling games you are getting yourself busy with. Next month you can also top up with the same amount.

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Quote from: Oshosondy on January 07, 2022, 02:03:56 AM

But did you know that many people just start to gamble but got addicted, I think there are some developments to help new gamblers in a way they will not get addicted, but the development is far less commonly known to people compared to gambling ads.

Out of $2000, using $100 to gamble is not a bad idea, I think it is still a good amount to gamble with if collect that amount, it is still just 5% of the original amount. If having such income too, I can still use up to the amount to gamble, but like I have said before, I can go for lesser amount like $30 too, It all depend on how the week is, but I won't go beyond $100.

The sad part about gambling addiction is that since it is not directly related to your health, there are less people checking it out and trying to figure out a way to help people. I mean don't get me wrong you could go to a psychologist and try to get help but if that was all it took for us to get better then there would not be any addictions at all.

The reality is that we are not going to end up with something properly helping people like other addictions, people who are addicted to smoking, drugs, drinking all get the help they need and they fail even with that much help sometimes, or maybe they get better whereas we are talking about nothing like that for gamblers and I feel like there should be some. Just because we are not dying right away, doesn't mean that gambling addiction is not bad. I personally got out of it with my own hard work, but I used to have hard time with it around 7-8 years ago as well.

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Quote from: milewilda on January 07, 2022, 02:31:09 PM

Even 10% would really be already high if we do consider out on having a sensible gambling on where we do only spent out % which wont really be going above with those numbers which i would say a must thing to be done for everyone so that you wont really be ending up on having a gambling problem when it comes to finances. Spent on the amount which you can afford to lose and
dont tend to go beyond with those budget you do have.Neither you are winning or lossing then you should stop and stick to those limits.
Dont let your greed control or overcome you so that you wont really be having problems.

Can't agree. 10 % is an amount per month, so from OP condition about salary of 2000 dollars, this will be like 50 dollars per week (200 / 4 ). Not so much, yeah?

For example, in Bitcoin poker series buy in was like 20-25 dollars. So 50 dollars per week is one poker tournament and few iteration on slots.

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It seems to me that the addiction is expressed not in the amount of money that a person can allocate for gambling and the periods between deposits in the casino and its obligations. If a person replenishes a deposit immediately after losing a game in an attempt to win back the lost funds, the likelihood that he is already a gambling addict is very high. A person who needs to feed his family is unlikely to allocate for gambling more than 10-15% of his income and a young man living alone can spend and 30-40% of his income and quite happily live on the remainder.

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Quote from: johhnyUA on January 07, 2022, 12:57:01 PM

Quote from: Ryker1 on January 06, 2022, 04:53:37 PM

Well even that amount is too much in gambling, as for my side, I can only allocate not more than 5% per month and it should not exist to 10%.
People have priorities in life and you should not focus on gambling only, it is just an entertainment win or loses that is fine as long as you are happy but it would be better if you will always win per match because for me --nobody wants loses. I know people are very skeptical when it comes to gambling most especially if the money from your hard work, you should value everything you have spent.

Man, my respect to you. 5 % is really wise limit for money to gamble, and from my side, i just shown "the upper boundary" for any person who is not-addicted-to-gambling . 10-15 % is limit, if you spend amounts above, that means you need some help Tongue

Even 10% would really be already high if we do consider out on having a sensible gambling on where we do only spent out % which wont really be going above with those numbers which i would say a must thing to be done for everyone so that you wont really be ending up on having a gambling problem when it comes to finances. Spent on the amount which you can afford to lose and
dont tend to go beyond with those budget you do have.Neither you are winning or lossing then you should stop and stick to those limits.
Dont let your greed control or overcome you so that you wont really be having problems.

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Quote from: Ryker1 on January 06, 2022, 04:53:37 PM

Well even that amount is too much in gambling, as for my side, I can only allocate not more than 5% per month and it should not exist to 10%.
People have priorities in life and you should not focus on gambling only, it is just an entertainment win or loses that is fine as long as you are happy but it would be better if you will always win per match because for me --nobody wants loses. I know people are very skeptical when it comes to gambling most especially if the money from your hard work, you should value everything you have spent.

Man, my respect to you. 5 % is really wise limit for money to gamble, and from my side, i just shown "the upper boundary" for any person who is not-addicted-to-gambling . 10-15 % is limit, if you spend amounts above, that means you need some help Tongue

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