Topic: How to be discipline in managing your bankroll? - page 2. (Read 1328 times)

Being disciplined is what can save us from being greed or gambling too much. Gamblers are meant to be disciplined and make decisions based on past and future probability and not just make decisions blindly. Managing our bankroll is very important especially utilizing risk management to make sure that we don't gamble too much or exceed the daily or weekly amounts that need to be spend on gambling. Record keeping can be a good way to keep details of our gambling activities whether we are making a progress or losing continually without the awareness. The use of risk management is paramount for us to be disciplined as a gambler when managing bankroll.

Basically, financial management is an important aspect that must be possessed by someone when they are involved in an activity that involves risks such as gambling, but this financial management ability will most likely only be possessed by a gambler who understands, knows and is aware of the risks in gambling, in the sense that when a gambler only focuses on his chances of winning, it is very unlikely for them to be able to put limits on the amount of money at stake, usually they always want to bet large amounts because they want to get big wins.

Therefore, this is the reason why we are always advised to respond to everything with a rational mindset with common sense, because that way you will most likely know and be aware of the various unwanted possibilities that can befall you at any time, and I would say that good financial management skills are not to generate more wins but to minimize the possibility of losing significant amounts of money.

Below 10% it can still be tolerated and certainly not a large fund depending on how much your main income is.
I will also limit myself to 5% for gambling bankroll but will not spend it all at once, Gambling is just entertainment not to make more money.

Some people who have never been disciplined and don't think about how much they spend on gambling,
they can't figure out whether they've made a profit or even spent more money than they expected.

However, there must also be a record of how much goes in and out for gambling in order to keep it under control.

Having a bankroll for gambling each month can be very helpful, it saves you from touching money wrecklessly. If you can set aside a moderate amount of money for a month and decide that no matter what happens to those funds you won't exceed it this would give you more control and restrictive measures to be disciplined in terms of managing funds. Withdrawing your wins just like you said is a display of discipline, instead of rolling over and trying to push your luck it's best to withdraw from each Profit made on every bet.

I don't have any set bankroll for betting each month, what I do is to set aside an amount that I can afford to manage to play for long with that can at least cover my whole week even though if I go on a persistent loses, and if I get lucky to win a few bets along the way, I make sure to withdraw my winnings before anything else.

Difference bettors with their own unique bankroll management, but the most important thing is to stick to the approach that best work for you as an individuals.

It's important that you can control and managed well your finances,  from that you'll be able to control how much your allocated budget for that certain day to keep you from getting wreck and consume all your money, it's not easy bu doable if you are really keen in succeeding with your goals, gamblers who practice their strategy well are most of the time are those who enjoy and manage to earn after executing their setup very well.

In my opinion, it's not that complicated with the budget, if I want to play and put aside $50 for gambling, then for me it will mean that I can play until this budget runs out, in case of a loss I will not replenish the budget again and try to play further. And I do not attribute this to discipline but to managing my finances, I will try to distribute this budget so that I can play with this money as long as possible, and to get a win. Not losing everything in one day, this is about managing finances, and not allowing yourself to replenish the bank again on the same day is already about discipline.

And the funny thing is that gamblers very easily find excuses to themselves to spend unplanned money on gambling, and not according to bankroll and money management, but all at once. And psychologically it is not difficult to understand, the fact is that everyone has goals (to win money) that they dream about. And increasing the bankroll, in the opinion of careless gamblers, will lead them to success faster.

Having no bankroll also is another level of decipline on its own and this is because for one to be able to gamble without having a budget and still yet not become addicted makes it possible for such a person to gamble successfully without any form of problems which is another level of control itself.


Any successful gambler can attest to the fact that gambling Budget is hard to mentain sometimes and at that we should be able to stand strong even without a gambling budget in form of bankroll in place.

And the funny thing is that gamblers very easily find excuses to themselves to spend unplanned money on gambling, and not according to bankroll and money management, but all at once. And psychologically it is not difficult to understand, the fact is that everyone has goals (to win money) that they dream about. And increasing the bankroll, in the opinion of careless gamblers, will lead them to success faster.

This is very correct, but whoever's disciplined should continue to be disciplined irrespective of how much unplanned money they receive from anyone because the money you use as an increase in wealth to increase your bankroll can become part of you even when those inheritances or free money have been exhausted. You have already set a standard of breaking your own rules in terms of limits, which will be hard to maintain again.

Again, being able to manage one’s bankroll isn’t just about setting limits of gambling budgets for yourself, that’s in fact the easiest part mate, where the actual work is, is sticking to those limits and budgets you’ve set for yourself because at some point even those who are considered to be responsible gamblers may also default in this particular area for one reason or the other. But yes, the best thing to do is t always set aside money one can afford to lose for gambling so even if it exceeds your limits and you eventually lose it, you wouldn’t feel much of the impact.

You say if you’re able to critically analyze the altcoin before buying that one still have chances of getting your money back and maybe make a few or more profits from the buy, while this may be considered to be true, just wanna know what are the chances that your analysis about the token will actually turn out to be the way you expect, considering the fact that it’s impossible to accurately predict the future outcome of a token in the short term, even when you’re investing in Bitcoin, it’s still impossible to accurately predict the short term price movements. In the long run you’re still depending on luck and chances, just like gambling. Again, if you also make your analysis correctly and luck is in your side before you stake the games, there’s also a pretty good possibility of getting your money back, and even make a few or more profits. So it’s pretty much the same to me.

Below 10% it can still be tolerated and certainly not a large fund depending on how much your main income is.
I will also limit myself to 5% for gambling bankroll but will not spend it all at once, Gambling is just entertainment not to make more money.

I also won't make continuous deposits, only when I need to play, and then I do.

Some people who have never been disciplined and don't think about how much they spend on gambling,
they can't figure out whether they've made a profit or even spent more money than they expected.

However, there must also be a record of how much goes in and out for gambling in order to keep it under control.

I also want to note that many players can spontaneously increase the bankroll if they received random money from somewhere, for example, an inheritance or a bonus. This is the factor when players can stop being disciplined.

Below 10% it can still be tolerated and certainly not a large fund depending on how much your main income is.
I will also limit myself to 5% for gambling bankroll but will not spend it all at once, Gambling is just entertainment not to make more money.

I also won't make continuous deposits, only when I need to play, and then I do.

Some people who have never been disciplined and don't think about how much they spend on gambling,
they can't figure out whether they've made a profit or even spent more money than they expected.

However, there must also be a record of how much goes in and out for gambling in order to keep it under control.

Same as yours, 5 to 7% is good for me; it really depends on my salary and additional income. If you're into gambling, a bankroll is important. This is the first thing that you have to learn if you are not rich.

To set up a proper bankroll, it’s suggested to use only 1% to 5% of your monthly income. That means your bankroll is set for one month and should not be refilled until the next month comes around. The idea is to see some wins so you don’t have to top up again.

For example, if your monthly income is $2,000, your betting budget should be $200. And to make that bankroll last, proper budgeting is crucial, which is where bankroll management plays its role. In my case, I stake only 3% to 5% per bet. So, with a $200 bankroll, my maximum stake per game would be $10. Sticking to that strategy greatly increases the chance of enjoying gambling over the long term.

How about you? Are you using a similar method, or do you approach it differently?