Topic: Educate yourself to be a frugal gambler - page 2. (Read 1130 times)

Nice but quick correction on your terms,  gambling is not an investment and can't even fit into the class of any category as an investment not to mention it is not being a sound investment as you state in your comment,  since the outcome of gambling games is unknown,  you can bet on them to be your next meal and at that, you have to take a lot of thing into consideration while considering going into gambling,  so having this understanding in place will help you a whole lot and at some point place you at an advantage over other things.

Why should I gamble with an amount I can't afford to let go and even at that I don't gamble all the time and at most I already have a well-planned gambling schedule that helps me to stay at advantage at all times without any possible risk of sliding into gambling addictions at whatever time.

Only we can tell if what we do is wrong. Those professional gamblers that have been doing it both for fun and money, won't say that they're doing it wrong or you can say it to them but they won't agree with what you're saying about their goal.

Yes, yes. We keep on hearing that we should do it for entertainment but we can't stop people that does it for money and they've been living with gambling as their major or second source of income. Gambling has never been an investment unless you're into their tokens or bankroll investing.

Doing that makes you judged already by people that you're an irresponsible gambler. Even if you give them thousand times of reminder about gambling only what they can afford, they won't obliged and will continue to gamble with money that they can't afford to lose.

I think gambling is really okay to consider as a side hustle while having fun as long as you know your limitations in spending your money and don't let your emotion affects you. do not let yourself be in a desperate situation chasing the losses. I already saw a thread somehow related to this and there's a topic on how to become a responsible gambler, that's a must-read. Also if you're familiar with the author Jean Scott, She released her book Titled "How to Become a Frugal Gambler" which States the comprehensive details and how to lose less and play longer.

I think what OP tries to say in “playing for fun” is to keep yourself chill and enjoy the game without sweating your cash. It’s like having a good time at a casino or betting online but only with money you can afford to lose. The moment we start feeling the stress like when we dip into our emergency funds hoping for a quick high win, that's when the gambling gane changes and it's not a good way.

Imagine this you start off just having a laugh but suddenly you find yourself desperate to win because you’ve put your savings or emergency fund on the line, thats when things go wrong. Responsible gambling means knowing your limits and not turning it into a high-stakes mission. It's about remembering that gambling should be fun and not a stressful race to make ends meet or make it a regulr income. By keeping it light and within your means you can keep the enjoyment alive without risking your financial peace or sanity. In short, you can play for fun.

Gambling just gives us fun if we win - that was the reality. It is pretty simple why we gamble and that is we want to win. This is the primary reason why we are here and making fun is just our secondary reason.

And to say how to become frugal? It was not for gambling, in fact, some of us commit debts/loans just for this. It means that people are spending more money than saving - sometimes our savings are sacrificed as we prioritize our gambling habits. We don't need to be frugal here but just to wise in spending our money and most of all, not to fall into addiction.

Its clearly understandable that gamblers are anything but frugal spenders. They once addicted will spend more than they can afford and its something that they cannot control. A frugal person on the other than will budget and spend as per need trying to save every penny at every instance so much so that they become obsessed with savings.

The better term is bankroll management and again another concept less understood by gamblers who regularly play EV- games and burn their sats on slot machines and dice rolls.

I think you are saying the opposite of what the truth is, it's actually the majority of gamblers that don't understand what gambling is for, and even if some of them do understand, they are not ready to accept it and still consider it something else. They think of gambling as a way to earn profits and make money even after knowing that there are more than 50% chances of losing when you are gambling since it's a totally luck-based thing.

The minority of gamblers totally understand and accept what gambling has to offer and how they should manage their gambling activities, those are the gamblers who don't chase their losses, they don't make more deposits once they lose their initial bankroll, they don't increase their bets to win more money, they might do it just for fun but that's different.

Having fun is good choice when one decides to spend some money in casino because expecting something else may not work out and only lead one to disappointment.

Financial management must be able to be done by everyone in everyday life because they will live until they are old and don't have to work part-time in order to earn or collect certain amount of money.
Likewise in gambling every gambler must be able to have a financial limit on what they use to bet because then it is impossible for them to be willing to use more money.
Moreover by having gambling capital limit everyone can easily accept any losses that occur.

This is the right of those who work all day for certain amount of money so it is natural that when they receive their salary they use it for shopping as long as it is in form that is useful for their daily living needs rather than using the entire salary for gambling.

in this always goes the word "easier said than done"

because while the truth is we must just enjoy gambling but the thing is majority of the gamblers are seeking for money when they gamble and not the other way around.
to have fun? yeah it is but do you really handle this?
that you only play to have fun and enjoy?answer it for yourself first.

Fun should be a part of the reason why we gamble, and the only way it can be fun while losing your money is to gamble with money you are willing to lose, the smaller the amount is the less it will hurt you.

I believe living a frugal lifestyle mean to be mindful of how we spend money, it means neutralizing unnecessary spending of money on things that you don't really need, so how of gambling discussion this is good advice even if you are not a gambler.

Some people don't even know how to get used to saving money, when the paycheck comes they have loads of things they want to spend the entire money on, and they push aside savings, and it becomes a habit later on, someone who lives a frugal lifestyle will do good in every area that deals with money spending and that includes gambling too.

but there are also people who think gambling is a game to earn money, not just as entertainment. so whatever the reason, we can't blame people for their reasons for gambling. whether it's making money, entertainment, expanding your network, etc., whatever it is is up to them because it's their money.

but what is certain is that gambling is not an investment or a quick way to get rich. the most important thing is how you become a responsible gambler and understand how to manage your emotions and finances.

Sometimes it is not even necessary to see someone else getting a big win, just the potential of that win and the imagination of people are enough to get some people to begin to gamble, something that by itself is not wrong, however if a person begins to gamble for the wrong reasons then they can suddenly find themselves losing way more money than what they can afford, and without a doubt gambling to try to get a big win and change your life that way is the wrong way to think about gambling.

There have been topics and discussions that are unending about people that should gamble for fun only. Whatever is your purpose and reason to gamble, either for fun or to make money it doesn't matter for the others as long as you're doing it rightly.

That's known to the most but there's a way that you can be with the house and be an investor to their bankroll.

Those are the gamblers that are irresponsible with their gambling activities. They think that it won't matter a lot when they become addicted and start using other's fund.

Gamble moderately and responsibly just as what they say.

The gambler may start to play by seeing some person who made the big win and live the luxurious game because of big money which he win from the gambling.The some gambler get into the gambling to bet on the sportsbet.Such gambler may had good knowledge in the sports like soccer games.So he applied his knowledge in the sports bet to get some additional dollars from the gambling.Like wise the gambler had the opportunity get additional income from his sports knowledge and same money can be used for their children eduction money.

Gambling doesn't only have to be played for fun, people can have more than one motivation when it comes to enjoying casino games or placing bets on their favourite sports. I agree with you that entertainment should be our main goal, because it's everything else we can't guarantee from gambling. Someone that only goes into gambling with the desire to make a lot of money will not likely succeed, which doesn't mean that this is not a reasonable motivation. Especially for people who like to bet on the underdog team in sports, or who bet on the 0 in roulette are looking for the high payout games. In my opinion it's fine to want to make a big profit with gambling, it's just that we shouldn't rely on it and expect it to come during one night. As long as we understand that the chances are higher for us to lose money than to make money, we are fine. Gambling is not a guaranteed method to become rich quickly, which doesn't mean that there won't be some lucky gamblers that will achieve it.

Well, I'm a player and I always do things like this, first of all, I also love that slot machine game, and when I play it I only end up with a lot of money willing to lose, but I do this not for lack of maturity or anything like that , I do it because I like to enjoy the coin-operations a lot, in this case if I lose I don't care, because I only play the coin-operations, to get fun and get away from everything that causes me stress, I do play this when I am stressed, because in some way the music of the trams makes me uneasy, it makes me feel different, it's like therapy, like going to the soccer stadium and watching my favorite team play, then these types of things are enjoyed, they make me enjoy , and it's as if I were paying for a service because I see it like that, of course there are other games that I play to win, or at least I try to win, like roulette in poker, something like that, but obviously I control myself and I only end up with a a little money to play with, that's my trick, or rather that's my trick.

But to be honest, it is not a very successful education for a player, or for a particular game unless it is poker, but financial education does help a lot so that mistakes will not be made when playing, mistakes that have to do with money, If we start to see a person who has a high financial education, it will be difficult for him to fall into a state of gambling addiction, because he knows that money is one of the things that must be taken care of the most, and that we must see a It is not like a means where the player knows that they can lose what they have in their pockets, in fact the game is made by having fun and to gradually lose, you only have to provide the moments where you must mostly play win and withdraw, because if a person plays and wins some money, in my case I withdraw and keep my positive balance because if I continue playing it is most likely that I could lose it, so that is not the idea either.

Gambling is not the way to become financially independent. It is neither a side hustle or an alternate source of income. Contrary to what you may have watched on the internet about people who live off of gambling, it is a very dangerous and risky thing to do. We already have a thousand and one thread on this forum that highlights this same topic raised by the OP and we do not need more of this because as the good old books says, let him that have an ear hear.

Gambling is meant to be played for fun which people can use little money and if they win they can get a reward for participating,  but many has turn gambling to be an exercise where they must get constant income from. It is never possible for gambling to be source of making money for people to depend on it,  but some people have pictured it in a different way.

People have the wrong mindset about gambling thinking that they must make money from it , it doesn't work that way. Gambling is designed to be a game of gain and lose and it can't be changed to be a game which people will only win.

It would be fun at first but until you haven't noticed that you've gotten addicted to gambling and spent countless hours playing. There are a lot of people who used to play fun but it turned into addiction since they spent too much time gambling which also led to chasing their losses. They didn't mind anything as they were only focused on chasing their losses which that is the time they were going to use their savings that were intended for others. It is best if you gamble for fun you also have to control and monitor the time you spend and act if you spend too much time immediately by stop playing for that day.

now I am enjoying my poker game, I participate in daily tournaments where the buy in does not exceed 10$. and play it up to a maximum of 2 re-entries, making strict rules like that seem easy, but if you try it you will find it difficult especially since you might have more money in your bank, so you think it's not a big problem.
but actually there you are consistently being trained.