This is not Practical - page 10. | Bitcointalksearch.org

klidex

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Quote from: alastantiger on July 15, 2023, 09:10:17 AM

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

It seems that you have answered this question yourself, namely money that I can afford to lose, which I think is used to buy my dinner or in other words, when you want to have fun playing in a nightclub with friends, of course we will pay using money that you can afford to lose for fun.
It's the same as gambling when I want to gamble looking for entertainment paying a little money to enjoy the fun of betting.
So I don't take the practical issue of planned money loss seriously.

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Quote from: alastantiger on July 15, 2023, 09:10:17 AM

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

It is always said that we should use the money that we can afford to lose. The reason for expressing this thought because many of us who spend a lot of money on gambling that would be used for the needs of their families. Maybe he is addicted or consciously using that money to gamble and losing. As a result, he is facing a major disaster due to lose of money. So we should use such money that even if it is lost, it does not directly affect life negatively.

Cling18

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Quote from: bitbollo on July 15, 2023, 12:54:52 PM

Quote from: alastantiger on July 15, 2023, 09:10:17 AM

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

how much do you spend to watch pay tv? or related internet access?
Well, that's the definition of money you can lose!
It can defined a certain amount of money that you can use for your passion or hobby.
It's a bit like riding a motorbike. spend money on petrol, tires etc etc in the end it's money you "lose" that you won't be able to recover in any way.
If you have hours and hours of "fun" while betting... well it's just any other hobbies, moreover if you are lucky enough or a good gambler you can also get in profit!

Losing the money that we can afford to lose means we can deal with the emotions that we might feel after being unlucky. If it won't have a huge consequence that we might face later on and if we are using the funds that are just allocated for gambling alone. It's like allocating enough for the entertainment that we want or consuming funds for something that would satisfy us.
We all know that gambling could provide fun and entertainment and if it's already part of our hobby, then we should be wise in spending on it. Using the funds that we can afford to lose means being smart and having enough self-control when it comes to spending. We could apply it not just in gambling but in some of our urges to spend. It's like treating ourselves in a wise way.

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Quote from: alastantiger on July 15, 2023, 09:10:17 AM

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management.

Your idea is way more theoretical and personal, there are people who can afford to lose millions to billions of dollars just to get what they wanted. Another example where people are willing to lose money is by getting his family to a holiday vacation. Parents are willing to spend money to treat their kids to some good place that their family can enjoy. And gambling is not different from this kind of situation.

In order for a person to have some entertainment, they are willing to spend some money. People that have this kind of attitude towards gambling don't bother spending some free money to enjoy playing at the casino platform.

Quote

Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

When I put my fund in a casino as a gambling bankroll, I already considered it a loss. This means I can afford to lose this kind of amount playing in a casino. So my answer is Yes.

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Quote from: alastantiger on July 15, 2023, 09:10:17 AM

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

how much do you spend to watch pay tv? or related internet access?
Well, that's the definition of money you can lose!
It can defined a certain amount of money that you can use for your passion or hobby.
It's a bit like riding a motorbike. spend money on petrol, tires etc etc in the end it's money you "lose" that you won't be able to recover in any way.
If you have hours and hours of "fun" while betting... well it's just any other hobbies, moreover if you are lucky enough or a good gambler you can also get in profit!

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Quote from: alastantiger on July 15, 2023, 09:10:17 AM

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

Has a point but for sure we all know what that phrase reaally means. Ofcourse no one has such thing of affording to lose any amount and that is why they engaged with gambling. We all gamble to win but atleast, the amount believed to afford losing is an amount we can quickly replace such as $1k of your $20k salary; it won't mean that much compared to losing all of your funds, a portion of what you have basically. Or simply not an amount you would be needing for emergency purposes given that we are more likely to lose than win. Try playing at both half of your monthly income and a 2% of it, which is more likely to cut deep in your wallet and one which you can disregard after a perioud of time?

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Quote from: alastantiger on July 15, 2023, 09:10:17 AM

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

People who know they gamble often should begin considering adding gambling in their budget so they can control the amount of money they spend on gambling by gambling with a fixed percentage of what they earn. Gambling with any free money you have will make you spend uncontrolled amount of money in gambling and before you know you become a gambler who has no idea of what they spend on gambling which is something every gambler should try to be consciously aware of.

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Quote from: mu_enrico on July 15, 2023, 09:23:42 AM

"Money you can afford to lose" is a figure of speech, meaning money that isn't used for important stuff, including paying bills and groceries. No one wants to lose money, but when you drop a penny on the street, you might not want to pick it up and walk away. Some people also toss it in a pool or something to pray for a miracle. It's similar to gambling when let's say your income is $1000 a month, then $25 for gambling isn't much, and when you lose you'll feel not as devastated as people who bet their life savings. Sure you'll feel sad, but if you play for fun, it goes away quickly.

I agree to you, there's a deeper meaning to it. Nobody wants to lose money and nobody will not take a risk. So the thing is it will depends on the money you are capable not to think about after you play , it is like a money that when you bet it whether it will be for win or for lose you will not have any regrets, so the amount is doesn't matter , I think one of the meaning of this is do not regret losing.

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Quote from: Slow death on July 15, 2023, 11:52:11 AM

when a person takes 50$ and buys beers, will the 50$ come back? when a person takes 200$ and buys a plane ticket and travels to spend a vacation on an island or in another country, will the 200$ come back? I believe I will not return. in the same way that when a person is hungry and takes 50$ and buys food in some restaurant, the 50$ will not come back, so we call that money destined for entertainment or food, and it is money that we can afford to spend we lose. this can also be done with games of chance, when we put 100$ in the casino we are saying that those 100$ are already lost because nothing guarantees that we will win the casino or the bookmaker

so if we lose the 100$ it won't be a big problem in our life because it was money allocated only for the game, you should also think that way because gambling are not guaranteed profit, so the money that is put in the gambling is money that we can afford to lose, financial management is crucial in order not to lose everything because of gambling. in my case for example, when I deposit money at the casino I take that money as something lost, when I have some profit I keep thinking in the same way that that money is something lost

The way I think we get the returns for any amount we spend is just the fulfilment or soul satisfaction that comes with the expense.
Sincerely, spending money feels good, unless personal problems and challenges litter the way and ones debit score is way higher than their credit, I don't see why anyone should feel bad about spending a few bucks to gamble or buy ones favorite thing or travel for vacation or tourism.
Scale of preference may be ideal to determine what's more important to spend on, but who really sits down to allot funds for instant gratification? It's like an inprint in the mind, you just spend to make yourself happy.

The best way I have seen that one can limit spending on gambling or spending on what doesn't give gain, is to have a focused saving plan. If there's the discipline to commit to savings, all these gambling spending or unnecessary spending will fizzle out.

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This saying of "gamble money you can afford to lose", for understand it properly you need to think of it in a literal way.

If we assume that the money wagered is going to lost forever then let us imagine that I can take 1$ for my pocket and I burn it? How would I feel or how would you feel?

What about if I take 100$ and I burn them? Would it be the end of my future? Could I recover someday of such blow?

The money one can afford to lose is the one which could disappear from our posession and our life would not be affected in the slightest.

If you can throw a nickel into a well, then it is money you can gamble. If you can throw 5$ into it, then it is money you can instead gamble. Wink

Slow death

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when a person takes 50$ and buys beers, will the 50$ come back? when a person takes 200$ and buys a plane ticket and travels to spend a vacation on an island or in another country, will the 200$ come back? I believe I will not return. in the same way that when a person is hungry and takes 50$ and buys food in some restaurant, the 50$ will not come back, so we call that money destined for entertainment or food, and it is money that we can afford to spend we lose. this can also be done with games of chance, when we put 100$ in the casino we are saying that those 100$ are already lost because nothing guarantees that we will win the casino or the bookmaker

so if we lose the 100$ it won't be a big problem in our life because it was money allocated only for the game, you should also think that way because gambling are not guaranteed profit, so the money that is put in the gambling is money that we can afford to lose, financial management is crucial in order not to lose everything because of gambling. in my case for example, when I deposit money at the casino I take that money as something lost, when I have some profit I keep thinking in the same way that that money is something lost

Jating

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Quote from: alastantiger on July 15, 2023, 09:10:17 AM

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

Well if that is how you interpret it then so be it. It seems that you have your own reasons for that and so is gamblers around you. For them definitely the answer will be yes, but you can't just argue around here if you see it as more of theoretical than practical.

As the saying goes "to each his own". May I ask if you are a gambler though?

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Quote from: alastantiger on July 15, 2023, 09:10:17 AM

Literally no one has money that they can afford to lose.
~

Nah, I gotta disagree. The money I allocate for gambling is essentially my entertainment budget. Whether I decide to spend it on gambling or any other form of amusement makes no difference. But let me clarify something. Just because I am okay with the possibility of losing that money, it does not mean I actually want to lose it. The thing is, gambling is enjoyable largely because of the thrill and excitement that comes with winning.

qwertyup23

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Quote from: alastantiger on July 15, 2023, 09:10:17 AM

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

Generally whenever I gamble, I always consider it as money loss on my part due to the nature of its circumstances. It is not about the money that I can afford to lose, but it is more of conditioning that every money that I enter in gambling is considered money lost.

In conclusion, gambling is a game of chance where it does not guarantee any absolute form of profit. In return, you experience the adrenaline of knowing whether you double your money or lose more in the process, which is a trade-off in itself. If you really want to limit yourself in gambling, then you should only bring only a handful amount of money at your disposal.

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Quote from: alastantiger on July 15, 2023, 09:10:17 AM

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

There is a lot of similar advice in this forum so I don't think it is reasonable to create a new topic on this topic. Because it is not something new that can benefit someone in a new way. Although no such topic has been created, this is a common advice given to almost all gamblers. Gambling is something that helps one gain profit and also has the possibility of loss so every gambler must gamble with the amount he can afford.

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I always advise all that they should only play with money that they can afford to lose, this is what we all believe and this is what we should be doing if we want to remain safe, this advice should not be questioned if you have expectations on money that you gamble then it's your decision but you will eventually find out that you can not beat the house and you should not expect to profit from gambling.
Money for gambling can be considered an opportunity cost but you should not have high expectations, and it's more comfortable to think that the money you've used to gamble is something that you can easily part.

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Quote from: alastantiger on July 15, 2023, 09:10:17 AM

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

You can afford to lose meaning you are still ok after losing it and not feeling nothing after you loss it since every money really count but there is a certain amount which players has tolerance to loss in proportion to their total bankroll.

Let’s say you have 1M in your bank account. Will you be remorseful after losing 100$ on a game that you have a chance to grow it? You can move on easily since your total money in the bank is far huge and you can always play again using that same amount as many as you want compared when you loss 100K or more which will decrease significantly your total money. This is the meaning of play what you can afford to lose. Afford is the key word here.

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Quote from: alastantiger on July 15, 2023, 09:10:17 AM

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

OP have you not heard stories where people lose money and commit suicide? Others have suffered from serious health issues because of losses. Some families have suffered from financial problems because money meant for upkeep has been lost to gambling. Nobody wants to lose even a penny in gambling but gambling what you can afford to lose means more than the literal words. It entails that you should only gamble with what will not affect your health, finance, family, and other activities negatively. Furthermore, it is staking the amount you can be able to bear if you lose. It is a slogan that guides us to gamble responsibly. Having a gambling budget serves as a plan that helps bettors to know their financial standings to prevent over gambling which can affect them negatively. So when someone says he is gambling with what he can afford to lose he simply means that he is gambling within his means.

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I think you're making a fair and strong criticism. What money can we afford to lose? I don't want to give a sophisticated answer. But I think the answer to this question varies from person to person. To me, the money I'm willing to lose is the amount I can spend while drinking at the bar after work. I go out to have fun with my friends a few times a week. If I reduce this number, I can spend the money I would spend at the bar on a few match bets. I realize I don't actually have a very good explanation. But I think I have as reasonable an explanation as possible. As a result, I prefer to gamble only for some adrenaline. That's why I continue to act knowing my limits and never exceed my limits.

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Quote from: alastantiger on July 15, 2023, 09:10:17 AM

Literally no one has money that they can afford to lose.

Maybe that's what you think but in reality, there are people that have money that they can afford to lose and that's what gambling is for them. They've got money ready to lose.

Quote from: alastantiger on July 15, 2023, 09:10:17 AM

Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

Yes.
I gamble with an amount that I can afford to lose. It's like a money ready to be spent for gambling and no matter what the results, you're on it and there will be no hard feelings when the results didn't go accordingly.

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