It is already quoted here in this section that gamblers should use the little money that they can afford to lose and gamble, so some gamers are doing as quoted, but another quote states that gamers should use spare money to gamble and my disagreement with that quote is that nobody as a whole has spare money. Every money has value, but every money holder doesn't have value for their money.
Even if a person has enough money and still a steady income, I still don't agree that the money the person is working to get doesn't have a valid use. If the money doesn't have good use, then why is the person working hard to get the money?
At times, money controls the owner, like if someone has a lot of money, he might be confused about what to use the money for
and if not, then the person might just have to risk it, but that is not a good option.
It is good to know your limits on everything and risking everything is also not good, like I only gamble once in a while and I also have a limit that I don't and can exceed.
Topic: This is not Practical - page 3. (Read 1145 times)
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 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.
Literally no one has money that they can afford to lose.
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?
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.
The spending you do on gambling shouldn't affect ones life in any way, just because you've lost in gambling. In other terms you shouldn't
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 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.
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.
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.
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.
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.
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.
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.
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.
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$. as I said, bankroll management is very important
now it would become a problem if they became addicted to gambling, because with that they would put in more and more money every day and there would come a time when their daily profit would be much lower than the daily money they are spending in the casino and with a few years or even months they would go bankrupt, sell everything and become poor, addicted, drugged and kill themselves. by that i mean when the person has self-control, the person can play every day, but he needs to think that if he has a profit of 100$ 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
~snip~
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.
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.
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.
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.
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.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.
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
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?
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.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?
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. 
This fact is increasingly visible when we often witness the behavior of young people who do extravagant behavior even towards their friends. They are young people who want to be acknowledged, but unfortunately, they often take the wrong path, and when they are reminded that it is wrong, they cannot accept it and instead invite or make a fuss.
If these young people can be directed in a better direction, they can use it to prepare for their future and start thinking about what they will do. By having short, medium, and long term plans, they can start to organize their life, and even though they are different from their friends, they can feel it later in the future. Especially if, at their age, they can start thinking about investing for their future.
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.If these young people can be directed in a better direction, they can use it to prepare for their future and start thinking about what they will do. By having short, medium, and long term plans, they can start to organize their life, and even though they are different from their friends, they can feel it later in the future. Especially if, at their age, they can start thinking about investing for their future.
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.
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.
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?
No one will want to lose any amount of money that quickly, as we are all aware. But if I may state, what they mean by "money someone can afford to lose" is money that when someone loses it, it does not effect them as much. For instance, if you have $100,000 in your account, losing simply $50 to $100 may not hurt you as much as losing something like $50,000. As a result, I also think that if someone uses 1% of their funds to gamble, they won't be as concerned even if they lose. As for me, I still think it's wise to only gamble with money you can afford to lose since I know that even if I lose a little, I won't be broke. 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.
Gambling is a game in which it is customary to take risks. Many of us like to take risks, especially in our youth, some of us manage to earn good money, but it is quite natural that someone loses everything he has. I am not just talking about gambling, but trading on the stock exchange and investing in cryptocurrencies can also be referred to high-risk entertainment. Risk makes us feel very strong emotions, which is why such entertainment attracts people so much.
It no doubt happens with young people because they still think that if they can show something more challenging in front of their friends, they will take that risk. And those who manage to overcome that risk will seek other challenges with even greater risks.But if these young people take risks by gambling with a lot of money, they will not be able to stop easily because they will think that they can recover their losses and get wins. They won't think if it's money they can afford to lose or they will regret it. In the end, they will regret losing their money but return to gambling again another time. And they should try to have a budget for gambling so they won't have the same experience later.
Playing with risks, of course, will definitely provide its own adrenaline so that there are challenges in gambling games, apart from that the risks are not only in gambling but also in crypto trading also has risks or other activities, the higher the risk the higher the adrenaline we feel that's why children who are just growing up find it easier to find risks and games that trigger adrenaline in gambling.
In this modern era, anyone can gamble with their cellphone and everyone can find entertainment by playing gambling, talking about the risks, everything we encounter in life always has risks, even trading as an entrepreneur is full of risks, depending on how we can minimize the risks ourselves so that not too lose more money.
But I think talking about gambling, with other activities, what do you think is talking about adrenaline, I don't think it's apples to apples, because I'm not quite sure that adrenaline in the context of trading and gambling is different, gambling is generally easier to do and not takes a lot of time for analysis and all kinds of decisions to make, and the main thing in gambling is luck.In this modern era, anyone can gamble with their cellphone and everyone can find entertainment by playing gambling, talking about the risks, everything we encounter in life always has risks, even trading as an entrepreneur is full of risks, depending on how we can minimize the risks ourselves so that not too lose more money.
If the premise of risk here in terms of risk in gambling and investment is the same thing, then the wild meaning says that the investor is a gambler.
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:
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.
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.
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.
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.
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.
Jump to: