Topic: This is not Practical - page 3. (Read 1436 times)

When they talk about money that they can afford to lose, they mean some small amount, equivalent to what you can afford to spend on any other entertainment and this will not be noticeable for your budget.

It is clear that no one wants to lose money and come to gambling to win something, but if you play for an insignificant amount, it will not cause you any discomfort if you lose. Personally, I don’t like to lose and even losing a small bet can upset me, so I believe that everyone should only play with money that, if lost, will not affect your budget in any way.

You know, when they say 'Don't gamble what you can afford to lose,' it's kind of like comparing gambling to other forms of entertainment. It's all about spending money on something that entertains you. Just like going to a concert or watching movies, you're putting your money into the experience.

But the saying also hints that in gambling, losing is a real possibility. So, it's like a reminder not to get too attached and be ready to move on if luck's not on your side.

Spend the money one can afford to loss. What does it means?
use the money for living into gambling. Most of us don't understand the risk and just keep on wagering just to recover what one had lost earlier. In a game of chance we can't be sure of the outcome and based on that needs to be limits.

I personally spend beyond my limit. Nowadays the spending on gambling used to be the money I allocate to clear my debts. When I loss on gambling, my personal living doesn't gets affected, but my debt gets stagnant. It is also kind of spending the needful money.

I really like the way you use the word 'capital' in gambling. It gives off this vibe like you're running a business. And if you approach it that way, you might just find success in the long run. Just like in regular business, you don't want to put all your money in one place; diversification is key to minimize risk. But, of course, that should come from your savings, where you make sure you've got funds set aside for emergencies. In short, not everything goes into investments.

Gambling might be just for fun for many of us, but if you're ambitious enough, you can think of it as investing. Take sports gambling, for instance. Some serious folks call it 'sports investing,' and they mean business.

Simply allocate a portion of your money to use in gambling or as a capital to start. In that way, only that money will be used to play, which is the meaning of "money you can afford to lose." Also, that portion of money will not affect your financial stability; it is also called boundary money, which means that's it; it is the only money you will spend in playing and will not overboard, to avoid a big loss. I think this should be a good practice for the gamblers or set this as their mindset, but they can only do that if they have discipline.

Yes agree with you mate it's better to us to discipline ourselves and separate our money for our daily needs and for our wants which is for gamble and we must have the mindset that once we are budgeting for our gambling needs there's no assurance that our money will grow unless we are lucky enough to hit the jackpot. That's why we need to put in our mind that we must separate our money that can we afford to lose.

The practical one is most important one in the gambling.Because the gambling is like the trading,it can be learned by applying your knowledge.The discipline is the needed one in the practical experience of the game.The gambler should use the money,which he afford to loss in the gambling.Most of the gambler start to increases the money to the gambling by the addiction to the gambling,till use the free money to the gambling.The game in the gambling will be the fun filled one.

i also feel like its more of a theoretical thing than practical. but i believe with discipline it can be achieved. where people get it wrong is that how do you estimate or separate the money that you can afford to lose? if you can sincerely answer this question then it will help you to gamble responsibly and not to be addicted.

these days I have observed that people who have many sources of income can afford to be playing all day and every day, it seems like a joke but unfortunately it is not a joke, I have seen people in my country playing all day everything, then they start to fight but from what I see of the rich people who earn money every day it doesn't hurt them to take money to play every day, that's because those people already have their own homes, they already have many cars, they already have many sources of income income, so playing every day with an amount that is just one day's profit from their many trades is not a problem for them.

now it would become a problem if they became addicted to gambling, because with that they would put in more and more money every day and there would come a time when their daily profit would be much lower than the daily money they are spending in the casino and with a few years or even months they would go bankrupt, sell everything and become poor, addicted, drugged and kill themselves. by that i mean when the person has self-control, the person can play every day, but he needs to think that if he has a profit of 100$ a day from his real life trades, then he should only play with 10$ a day , if you have profits of 10,000$ per day from your real world trades, that person could play with up to 1000$ per day

financial management is a very important factor, a person who earns 500$ a month and after doing all the calculations for household expenses and 80$ is left over for fun, then that person could only play with 10$ or 20$ a month, if with 20$ he wins and is left with 40$ then it is a good thing because the bankroll value has risen a lot, this means that in the following month that person will not need to put more money in the casino. but if you lose the 10$ or 20$ then you must wait 30 days to put another 10$ or 20$. as I said, bankroll management is very important

This will go back to how parents can educate their children because if parents can educate their children properly and correctly, their children will not disappoint their parents and will do the best for their parents. But the reality is that parents have done their best to educate their children but because their children have the wrong association, they have chosen the wrong path and disappointed their parents. Perhaps parents need to tell them what risks their children will face if they get involved in gambling so that their children can think about the impact on their future. If there is good communication between parents and their children, there will be no misunderstandings or serious problems. And providing insight and education to their children from childhood can give them the awareness to have a more educated soul and think about how they should act, including when they are with their friends. Her children will not go wrong and can even become role models for their friends.

As far as here nothing is impractical.The real problems are the gamblers who cannot accepts that easily that they lost all their allocated money in that specific gambling session and as such they deposit more in order to try and recover the lost amount,which we all know that rarely this is the case and normally the new deposit creates further problems rather than solving the first one.

We are forced to pay the bills,necessities,rent and all this,we don't have a choice here unless we want to starve if we use that money for gambling,the real problem starts with excess money that for me is the root of all the gambling problems.

Yes, that's how it is as gamblers we are required to do something that should be and this must be considered that for gambling always separate the budget for gambling and the budget for living needs, because if it is put together it will make finances messy, so using money that is set aside and not used is it's important not to use a budget for necessities, at least be smart enough to limit the gambling budget.

By trying to limit the budget, it will definitely help us get rid of the nature of addiction, which is sometimes when we gamble and lose, we continue to play until all the money is used up, so money for other necessities of life also runs out. This is important to learn and control because to protect ourselves from addiction

It is what most newbie gamblers will fall for. To lose control, have emotions and gamble with more money and following by addiction. But there should not be anything like this unless for the gamblers that do not want to be responsible while gambling. If gambling, it should be noted that spending more than expected is what that will not end good. Gamblers should not chase money. Gambling is not even 50-50, the gamblers have lower probability to win and higher probability to lose.

I think it was quite the norm when you're gambling, it's not that it wasn't practical in a sense that you'll just prepared to lose it all but you know that it isn't certain. Well, it's 50-50 but as a gambler I think preparing for the worst rather than the best will always be understandable.

The first thing that makes many young people do this without thinking twice is because they think that there are still parents who can give what they ask for, they can even rely on their parents to demand their needs and lifestyle so they don't think clearly in the long term and often just ignored.
Indeed, the needs of a child are the responsibility of parents, but at least every child should be able to think and consider what he is doing so that there is no disappointment from the parents when they find out that their child has done something wrong.
Providing education to young people about understanding the risks of gambling and investing, in my opinion, is a good step so they can think about which one is better and can provide benefits in the future because young people have a long life journey.
In addition, providing insight and education about financial management is also very important and can make the younger generation have a more educated soul to think about how to develop themselves to make money without having to pay a lot of money.

If you're not allocating your money, that's how you'll think.

But do not forget that we're different in terms of how we handle our money. You put a budget in buying foods and necessities, bills, mortgage and everything.

While gamblers do allocate a budget for spending in the casino and that's the money that they can afford to lose. It may sound impractical but that's how usually it goes.

Each person does have that different financial capability on which means that there are ones who are really that prepared or really that expecting about those gambling losses and there are ones who are really that

motivated on making some income or having that kind of approach which its never been that that ideal on gambling to be treating up that way.There are people who are really that prepared on losing those funds
and that should really be done in the first place because if you dont really make yourself that prepared or having those intents for those funds to be used up that way then you would really be that desperate or would really be that impulsive towards gambling and you would really be acting like a gambling addict on the time that you cant really be able to control yourself when it comes to spendings.

If you are that someone who arent really that good when it comes to emotion or mindset handling then its better to avoid it if you dont like on losing money that much but its true that
there are people who are really that prepared on burning up their funds into gambling and dont mind if ever they would really be losing it.

There are certain factors that separate investors from gambler, you can just find it in just a simple search of difference between and investo and a gambler, but do no worry I already did it for you: https://www.investopedia.com/articles/basics/09/compare-investing-gambling.asp .  One worth noting is this explanation I qouted:


Yeah as a gambler we should have a proper allocation of funds so that we won't end up destroying our financial capabilities.  It is hard when we found ourselves in deeply negative financial status, it will take time to recover and reclaim the amount lost due to gambling.  We must practice restraint and bankroll management.  And only gamble the money we can afford to lose.  One of the best practical advice in gambling industry.

Most of the gamblers with good knowledge will use the the free money for the gambling.When the money is the money free from your monthly expenses,you don't worry about the loss occur in the gambling.If the monthly income is 2k dollars,then ten percentage of 200 dollars will not affect you.Mostly people use the money of 20-30 percentage of their salary for the monthly rent of their house.They use the 50 percentage of money for the food items.So the 200 dollars won't affect their monthly spending,it allow them to continue the casino for the next day.

The thing is, OP's coming from a place of lacking, otherwise he would understand the concept of money that you can afford to lose. People out there will always have money that they can burn, which they can in turn use to gamble away. And since OP doesn't understand this given the fact that he thinks everyone should just gamble regardless since no one has "money they can afford to lose" he thinks he's right. But at the end of the day this "gambling capacity as I call it" is something that's real and is something that you need to gauge for yourself so you don't go out here losing money you couldn't afford to lose. If you think you don't have any money for gambling, then might as well not gamble. Don't push your luck pal.