The main and most evident issue when talking about forced self discipline is that you leave yourself with a restriction you may really not want to have in a matter of time. Like, imagine you won $100k but you set your account so that you only get to withdraw $1k a month.. and one week later you urgently need all your funds.
If there's a way you can somehow cancel this escrow thing, it'd make no sense to have it in the first place. So I personally say it's a bad idea to have forced self-discipline. If you really cannot abstain from gambling more than you can afford to, then you'd probably be better off gambling at all.
Topic: Limited escrow service for building self discipline. - page 2. (Read 551 times)
Not really practical to apply, because we know how big the crypto gambling industry is and we have very few members who is trusted with such huge money so do you really think it is possible for them to handle all the traffic?
And why you can't do that by yourself.
You know you can do it yourself and pretty easily, I am someone who stakes my TRX and all my gambling is also done via TRX and later converted into bitcoins when I need them.And why you can't do that by yourself.
So basically I put my coins on staking and I cannot access them until a specified date which prevents me from gambling and also makes me some nice profit because if I was going to hand over my coins to someone just to control them, then I would always be worried if the person can be trusted or not and if even I can trust him then I am not getting any return on my money instead I might be paying some fees to the person holding it for me.
A good self-control would be enough if one needs to restrict himself from playing. he doesn't need to let anyone secured his earnings since he can control himself without a problem and this is something for anyone to practice if they don't have it yet. This won't come easy at the start, but on the long run, you will gonna use to it and will not carried away by his emotions.
But being a gambler I can tell you that it is not easy because when you lose some money initially then you feel desperate to win the amount back and that desperate moments can cost even bigger loss maybe it is worth having someone else control your funds but make sure they are trusted and you can access them in case of absolute scarcity. I have played in past where I locked my funds for a set date but it felt horrible when I needed them but I could not access them. So, I am not a big fan of locking your money but if you get out of control then yes it might be worth it.I think if you rather only deposit as much as you are affording to loose then you don't even need bankroll management because you know what you deposited was affordable to be lost.
Not really practical to apply, because we know how big the crypto gambling industry is and we have very few members who is trusted with such huge money so do you really think it is possible for them to handle all the traffic?
Yes it's possible as long as they're getting paid but I doubt there would be a lot of gamblers willing to use escrows since most of them don't spend too much. And why you can't do that by yourself.
Doing it on your own is always better but the escrow solution is most likely for those who already failed and are looking for other alternatives.This not actually effective for me. I'd rather try to resist the desire to gamble once I lose, with my funds just accessible anytime. If I set a certain amount to gamble per week and loses it all on the 2nd or 3rd day, there are chances that I will not follow the escrow terms.
If that's the case then the escrow should ignore your requests, once the funds are in his hands it should only be released on the said date. 
Involving a third-party for one's problems regarding bankroll management and self-control isn't really good. Also, even if one platform limit your max bet for a single day (which I think most platforms would gladly ignore to implement), the gambler could just hop from one platform to another, effectively evading betting restrictions on one platform and just proceeding to bet on another. There isn't a third-party solution to self-control, unless the said third-party is allowed to do anything to prevent the person in question from doing different actions to gamble.
A good self-control would be enough if one needs to restrict himself from playing. he doesn't need to let anyone secured his earnings since he can control himself without a problem and this is something for anyone to practice if they don't have it yet. This won't come easy at the start, but on the long run, you will gonna use to it and will not carried away by his emotions.
Not really practical to apply, because we know how big the crypto gambling industry is and we have very few members who is trusted with such huge money so do you really think it is possible for them to handle all the traffic?
And why you can't do that by yourself.
And why you can't do that by yourself.
i know and the op know that not all gamblers are going to agree or do it , thats why he put limited on the title . that few people are possible to handle by few trusted escrows but that escrow should be really trusted and show proof that he still controls that original account just to be safe . doing it by ourselves or saving money on our own isnt really that effective because we can touch and gamble the money if we are bored .
Not really practical to apply, because we know how big the crypto gambling industry is and we have very few members who is trusted with such huge money so do you really think it is possible for them to handle all the traffic?
And why you can't do that by yourself.
And why you can't do that by yourself.
some apps allow you to block sites for set amount of time if you want to force a break
The more a gambler tried to limit his bet, the more they desire to gamble when they lose it within the set of periods they set with the supposed escrow or a person that entrusted with the fund.
This not actually effective for me. I'd rather try to resist the desire to gamble once I lose, with my funds just accessible anytime. If I set a certain amount to gamble per week and loses it all on the 2nd or 3rd day, there are chances that I will not follow the escrow terms.
We as a gambler have a mindset that once we won, we always want to repeat it that's why even with continuous loss, we don't stop.
This not actually effective for me. I'd rather try to resist the desire to gamble once I lose, with my funds just accessible anytime. If I set a certain amount to gamble per week and loses it all on the 2nd or 3rd day, there are chances that I will not follow the escrow terms.
We as a gambler have a mindset that once we won, we always want to repeat it that's why even with continuous loss, we don't stop.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
I have thought of an interesting concept which can help you out to control your gambling losses and most importantly to secure your winnings in a more sensible manner.
As poker player (with decent tournament record), crypto trader and occasional dice and slot gambler for almost 5 years I can assure you that single most important thing which can help you out in the long run is bankroll management. Although BRM is a combination of different skills but keeping your calm during loses by quitting for sometime is most important skill to master as it gives you time to reflect upon what you are doing wrong which led you to become more mature player.
It is easy to loose your mind and play outside of your bank roll in the heat of the moment. To prevent this up to some extent I propose a limited gambling escrow fund held by prestigious members of this wonderful forum.
How this will work ?
So suppose you have won a big tourney in poker or concluded a big profit trade, or accidentally (I use this word knowingly) won jackpot in slots/dice. Now what you need to do is to transfer your majority of winnings to the escrow immediately (and keep your self your normal playing bankroll). Now the escrow will have to release a certain amount of fund from your deposit to you on weekly or monthly bases. This will help you to remain under your bank roll greatly because after you loose your normal bankroll you have to wait for your next payment which will take some days. By doing this you have more time to introspect which is always good.
I urge learned members of this wonderful forum to ponder upon this and give some suggestions to improve this.
If you are badly addicted to gambling, even your "escrow" who will be holding your money for a limited time won't be able to help you.As poker player (with decent tournament record), crypto trader and occasional dice and slot gambler for almost 5 years I can assure you that single most important thing which can help you out in the long run is bankroll management. Although BRM is a combination of different skills but keeping your calm during loses by quitting for sometime is most important skill to master as it gives you time to reflect upon what you are doing wrong which led you to become more mature player.
It is easy to loose your mind and play outside of your bank roll in the heat of the moment. To prevent this up to some extent I propose a limited gambling escrow fund held by prestigious members of this wonderful forum.
How this will work ?
So suppose you have won a big tourney in poker or concluded a big profit trade, or accidentally (I use this word knowingly) won jackpot in slots/dice. Now what you need to do is to transfer your majority of winnings to the escrow immediately (and keep your self your normal playing bankroll). Now the escrow will have to release a certain amount of fund from your deposit to you on weekly or monthly bases. This will help you to remain under your bank roll greatly because after you loose your normal bankroll you have to wait for your next payment which will take some days. By doing this you have more time to introspect which is always good.
I urge learned members of this wonderful forum to ponder upon this and give some suggestions to improve this.
I bet the gambler will eventually break the terms and force the escrow to return the money. They will start making excuses that they need the money for some other "purposes".
If you think you have addiction problem, don't go to an escrow, go to a real person who can help you with your addiction.
I think so because when he can win much money, he will not send all of the win money to the escrow, but only send some amount and telling that escrow that he only win that money
It's easy to say that while we are not in the "face to face" with the escrow because we will feel that is our win money, all of the amounts, so why we should send that money to the escrow and let them manage the funds
Have you tried this idea before? Are you profitable with it as someone who spends alot of time playing and betting on poker? If it's doesn't work for you and you spend alot of time on poker then you clearly are gambling. And it's not a good idea.
In my opinion, bettors who spend alot of time and money betting should at least be consistently profitable.
In my opinion, bettors who spend alot of time and money betting should at least be consistently profitable.
I have thought of an interesting concept which can help you out to control your gambling losses and most importantly to secure your winnings in a more sensible manner.
As poker player (with decent tournament record), crypto trader and occasional dice and slot gambler for almost 5 years I can assure you that single most important thing which can help you out in the long run is bankroll management. Although BRM is a combination of different skills but keeping your calm during loses by quitting for sometime is most important skill to master as it gives you time to reflect upon what you are doing wrong which led you to become more mature player.
It is easy to loose your mind and play outside of your bank roll in the heat of the moment. To prevent this up to some extent I propose a limited gambling escrow fund held by prestigious members of this wonderful forum.
How this will work ?
So suppose you have won a big tourney in poker or concluded a big profit trade, or accidentally (I use this word knowingly) won jackpot in slots/dice. Now what you need to do is to transfer your majority of winnings to the escrow immediately (and keep your self your normal playing bankroll). Now the escrow will have to release a certain amount of fund from your deposit to you on weekly or monthly bases. This will help you to remain under your bank roll greatly because after you loose your normal bankroll you have to wait for your next payment which will take some days. By doing this you have more time to introspect which is always good.
I urge learned members of this wonderful forum to ponder upon this and give some suggestions to improve this.
If you are badly addicted to gambling, even your "escrow" who will be holding your money for a limited time won't be able to help you.As poker player (with decent tournament record), crypto trader and occasional dice and slot gambler for almost 5 years I can assure you that single most important thing which can help you out in the long run is bankroll management. Although BRM is a combination of different skills but keeping your calm during loses by quitting for sometime is most important skill to master as it gives you time to reflect upon what you are doing wrong which led you to become more mature player.
It is easy to loose your mind and play outside of your bank roll in the heat of the moment. To prevent this up to some extent I propose a limited gambling escrow fund held by prestigious members of this wonderful forum.
How this will work ?
So suppose you have won a big tourney in poker or concluded a big profit trade, or accidentally (I use this word knowingly) won jackpot in slots/dice. Now what you need to do is to transfer your majority of winnings to the escrow immediately (and keep your self your normal playing bankroll). Now the escrow will have to release a certain amount of fund from your deposit to you on weekly or monthly bases. This will help you to remain under your bank roll greatly because after you loose your normal bankroll you have to wait for your next payment which will take some days. By doing this you have more time to introspect which is always good.
I urge learned members of this wonderful forum to ponder upon this and give some suggestions to improve this.
I bet the gambler will eventually break the terms and force the escrow to return the money. They will start making excuses that they need the money for some other "purposes".
If you think you have addiction problem, don't go to an escrow, go to a real person who can help you with your addiction.
In the end, though, you're just pretty much running from the essence of the problem, which is self-discipline. By hiring third parties to hold your money, your basically saying that "I can't control myself, so instead, you put on a leash on me so that I don't go overboard" kind of thing. Plus, the thought of it comes after you put it in an escrow, but what if you don't? There's a sort of mentality where you just put it on hold for literally forever, saying excuses, but you just don't really want to do it. Once you get this sort of mentality, it's hard to let go, and if you apply it to this situation, won't it be a never-ending loop? And the fact is, you can't even manage self-discipline by then because you believe that the escrow would do it for you, but again as I said, you'd just make up excuses to not use it for now, but in the future, and that'd just make it a loop that's going to hurt you a lot.
This is a very good idea to be realized immediately, because a lot of addicted gamblers whose lives are destroyed because when playing gambling
can't manage their own bankroll. Maybe with a limited escrow service that helps managing bankroll, and can control themselves more disciplined
when playing gambling. If there really is an escrow service like that I will be very happy, because I am one of those who always fails control
emotions when trading. Especially if I play dice I can use up my bankroll. Although some people disagree with this concept and limited escrow
service will be useless in the end. I still want to try it, because of my principle if we never try, we will never know the results.
can't manage their own bankroll. Maybe with a limited escrow service that helps managing bankroll, and can control themselves more disciplined
when playing gambling. If there really is an escrow service like that I will be very happy, because I am one of those who always fails control
emotions when trading. Especially if I play dice I can use up my bankroll. Although some people disagree with this concept and limited escrow
service will be useless in the end. I still want to try it, because of my principle if we never try, we will never know the results.
No offense but I don't see this as an interesting concept.
Putting limitations on how much should a gambler spend for let's say daily, the weekly or monthly period will just make them more aggressive to play especially if their supposed funds to be covered by monthly just loss in a matter of few days or weeks.
This is spoonfeeding. Let them learn how to manage well their money. If sometimes, they won big and ended up zero, they will realize now how important managing the money is. On a good side, there are responsible gamblers that know how to use their money wisely. If they can, those irresponsible gamblers can do it too.
It is really not an interesting concept and as others said that this wont much be needed because people will eventually learn on how to manage up their funds along the process.It doesnt need any control or limitations from someone on how they should gonna spend their funds.Putting limitations on how much should a gambler spend for let's say daily, the weekly or monthly period will just make them more aggressive to play especially if their supposed funds to be covered by monthly just loss in a matter of few days or weeks.
This is spoonfeeding. Let them learn how to manage well their money. If sometimes, they won big and ended up zero, they will realize now how important managing the money is. On a good side, there are responsible gamblers that know how to use their money wisely. If they can, those irresponsible gamblers can do it too.
Instead on limits this would rather result into inpatient behavior since you do know that you do still have money left into your escrow then you will still end up on withdrawing those since you do like to play even more.
Setting out withdrawing options would be all in no use when you do cancel out it anytime and escrow has nothing to do but to agree and release your funds as you wish.
No offense but I don't see this as an interesting concept.
Putting limitations on how much should a gambler spend for let's say daily, the weekly or monthly period will just make them more aggressive to play especially if their supposed funds to be covered by monthly just loss in a matter of few days or weeks.
This is spoonfeeding. Let them learn how to manage well their money. If sometimes, they won big and ended up zero, they will realize now how important managing the money is. On a good side, there are responsible gamblers that know how to use their money wisely. If they can, those irresponsible gamblers can do it too.
it is just like diet on balance food eating that many were not able to follow the instruction. Instead of losing weight, many were gaining even more after body begins to starve and one will look for delicious bad for the diet foods. This is what look like to a user limiting him/herself on playing gambling activities. As we know that gambling could make a user addicted to it and will resort to losses of everything he/she has. It is difficult to stop the habit unless a family member will help that user to get away from gambling addiction.Putting limitations on how much should a gambler spend for let's say daily, the weekly or monthly period will just make them more aggressive to play especially if their supposed funds to be covered by monthly just loss in a matter of few days or weeks.
This is spoonfeeding. Let them learn how to manage well their money. If sometimes, they won big and ended up zero, they will realize now how important managing the money is. On a good side, there are responsible gamblers that know how to use their money wisely. If they can, those irresponsible gamblers can do it too.
In my own opinion and basing also the happening of the pandemic, I have make time fully occupied simply by having pets. I have dogs, cat and rabbits to take care and that made my time fully occupied with lesser time to do on gambling.
No offense but I don't see this as an interesting concept.
Putting limitations on how much should a gambler spend for let's say daily, the weekly or monthly period will just make them more aggressive to play especially if their supposed funds to be covered by monthly just loss in a matter of few days or weeks.
This is spoonfeeding. Let them learn how to manage well their money. If sometimes, they won big and ended up zero, they will realize now how important managing the money is. On a good side, there are responsible gamblers that know how to use their money wisely. If they can, those irresponsible gamblers can do it too.
Putting limitations on how much should a gambler spend for let's say daily, the weekly or monthly period will just make them more aggressive to play especially if their supposed funds to be covered by monthly just loss in a matter of few days or weeks.
This is spoonfeeding. Let them learn how to manage well their money. If sometimes, they won big and ended up zero, they will realize now how important managing the money is. On a good side, there are responsible gamblers that know how to use their money wisely. If they can, those irresponsible gamblers can do it too.
why not using a cold wallet? I mean if you get a decent win just withdraw to a cold wallet.
Also if you had a level of security (likewise private key is in another house/location or before using you should use 2 or more keys) even if you are in hurry to spend/empty your wallet you have enough time to avoid and don't waste your funds.
Even you can set a timelock https://en.bitcoin.it/wiki/Timelock
Why not use an escrow? What if he is a scammer? I know it's "rare" but some times it happens
Secondly if escrow has a problem and lost access to a wallet? Or worst situation he disappear due an accident?
Well using a smart contract or a cold wallet is a better solution
Not your keys = Not your coins!
Also if you had a level of security (likewise private key is in another house/location or before using you should use 2 or more keys) even if you are in hurry to spend/empty your wallet you have enough time to avoid and don't waste your funds.
Even you can set a timelock https://en.bitcoin.it/wiki/Timelock
Why not use an escrow? What if he is a scammer? I know it's "rare" but some times it happens
Secondly if escrow has a problem and lost access to a wallet? Or worst situation he disappear due an accident?
Well using a smart contract or a cold wallet is a better solution
Not your keys = Not your coins!
some sites you can set limits
stake.com
mbet
and few more
stake.com
mbet
and few more
Nitrogensports too.
I guess limiting myself in gambling would just be limited to me too, I'll handle myself and learn from it.
Getting other services or people involve might be too costly, and it would only delay a gambler's maturity in what they are doing.
we make mistake, be it, but we can learn from it and we will not be greedy in the long run.
Maybe I have to transfer it to my controlled wallet if you still don't find an escrow to give what you are asking for. Yeah, it is really hard to control ourselves knowing that we still have money in the wallet but maybe this time, we have to learn to control it. Maybe it was safe than we let other hands manage it. We have to think first about the possible bad happenings as money it really tempting. Because if you have a plan of what you do with this money, I don't think it brought you into addiction and but most likely, you were able to manage it.
Jump to: