This is not Practical - page 11. | Bitcointalksearch.org

blockman

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Quote from: alastantiger on July 15, 2023, 10:10:17 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, 10:10:17 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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Quote from: alastantiger on July 15, 2023, 10:10:17 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?

When people say "use the money you can afford to lose for gambling", it simply implies they are saying you should be use an amount you could afford to risk (i.e even if you happen the lose it all you won't feel it that much), of which everybody had a particular amount of money they can afford to risk at all times.

Example:
Let's assume a forum member "Y" has a monthly salary of $10,000, while a forum member "X" has a monthly salary $1000, and both are invited to gamble at a casino, and "Mr.Y" happens to stake $1000 on a single game (i.e 10% of his monthly salary), you literally don't expect "Mr.X" to stake same $1000 on a game (i.e 100% of his monthly salary) because by doing so he will be putting his entire money at risk, so on that note, what Mr.X will be able to stake is $100, which is 10% of his monthly salary, and an amount he could to risk.
But note that what people could afford to risk varies from one individual to the other.

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Quote from: alastantiger on July 15, 2023, 10:10:17 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.

Money that you can afford to lose is simply the money that you may have budgeted for gambling. A gambler knows that gambling involves luck and with high risk tendency for losing. So a gambler understand he could lose that part of the money he is using for gambling therefore if he loses that should not cause him a financial handicap or injury to make him go begging or put him in debt. That is why such phrase is always used in gambling palace.

Quote from: alastantiger on July 15, 2023, 10:10:17 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?

That is the case as it is the proper thing to do. A gambler should make a budget of how much of his income he wants to risk at the time he is playing. That is financial propriety and to avoid regrets, it is a wiser gambling decision.

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Yes, that is an amount I can afford to lose. I can't afford to lose more than that amount of money, so I try to stay within my limits regarding gambling. And I also try not to complain if my gambling budget runs out at the gaming tables because that's what I can afford. Like other people, I try to enjoy my gambling time, so whatever happens, whether winning or losing, I just try to enjoy it. That is advice that many people recommend, so before gambling, we must limit the amount of money we can use to gamble. Don't try to exceed that limit or you might regret it.

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Quote from: Stepstowealth on July 15, 2023, 10:26:21 AM

Things are getting tough economically, there is barely money that someone can throw in the wind unless they have an excess of it. I think what is often meant by using free money is that you should not gamble with the money that you have budgeted. There is really no free money that you will like to loose, but free money refers to the money that you have not planned any use for, that is after you have settled all other things that you need, and loosing that money will not affect negatively how you will live for that time until you get another money.

I will agree if you put savings as part of the budget. If yu do not, do not gamble with the amount of money that you can not afford to lose can go beyond your budget. In life, you need to have savings too. What you can afford to lose is when you have excess that you have nothing to do with it and can be part of your savings too, but you can use some from it to gamble. But what most people regard as it is when you use the money that can not affect your financial life to gamble.

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Quote from: alastantiger on July 15, 2023, 10:10:17 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?

Have to disagree on this one, the moment you set-aside a budget for gambling that's an indication that you are ready to lose that money because gambling is not a guaranteed way to make profit, and yes you should gamble only with the money you can afford to lose.

This is not theoretical, its more of a practical way of being a gambling and this can also mean a responsible gambling. Imagine, you are using emergency funds in gambling just because of a hope of making it double, that could be risky.

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Quote from: alastantiger on July 15, 2023, 10:10:17 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?

Things are getting tough economically, there is barely money that someone can throw in the wind unless they have an excess of it. I think what is often meant by using free money is that you should not gamble with the money that you have budgeted. There is really no free money that you will like to loose, but free money refers to the money that you have not planned any use for, that is after you have settled all other things that you need, and loosing that money will not affect negatively how you will live for that time until you get another money.

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Quote from: alastantiger on July 15, 2023, 10:10:17 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 and I go go beyong the amount. If you do not want to let gambling to discipline you, you have to discipline yourself and gamble responsibly. The only way to a responsible gambling is for you to set a small percentage of your weekly income to use to gamble. I use 5%bor less and I am not going beyond it.

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Quote from: alastantiger on July 15, 2023, 10:10:17 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?

Yes it is money that I can afford to lose as once I get my payroll I allocate money to each of my spending needs,electricity and water bills,internet bill,basic food for 1-2 weeks twice in a month,money for drinking coffee during afternoons,some little money to buy a few toys to my daughter and whatever is left I play some amount of it,not all the amount to play gambling,I can afford to lose that money as it does not cost me anything except that if I don't play it I would start saving more money than I am already doing.However I need some form of entertainment too and that is to gamble for me.

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"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.

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Quote from: alastantiger on July 15, 2023, 10:10:17 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?

For me yes because you understand that you cannot beat the house if you say no then you have this idea that you can beat the house and you will be disappointed if the outcome is not what you expect when you say you can afford to lose, it's not that you're giving it away you're still taking a chance and at the same time have fun, it's that you will still feel good when you log out because there's no pressure losing that money.
There is a cost to be entertained on a platform like gambling.

alastantiger

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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?

Topic: This is not Practical - page 11. (Read 1155 times)