Topic: This is not Practical - page 5. (Read 1145 times)

If you have lots of financial responsibility and your income is somhow enough for theses responsibility, I think you should avoid gambling since if you lose the little extra you have, you might get tempted to use the money that you can't afford to lose.  It is really a good thing that you see those small amounts of money being wasted when it was lost on gambling since that shows that you value money and do not want to waste it on something you think is not worth spending.


I also agree that @OP is somehow new to gambling activities since his experience and statement shown a not experienced stance and some confusion about the term "money that is afford to lose".  I believe with more experience in the gambling industry and reading more information about fallacy, guidelines, gambling terms explanation, @OP will eventually realized the misconception or misunderstand he has when he created this topic. He then probably come to realize that gambling only the money we are afford to lose is actually one of the best practical advise one gambler should listen to.

You are indeed a rich dude/person for allocating such 10-20$ to gambling but to me, I feel like its a waste when I have more responsibilities to tackle but its cool, you may have little bills to handle and more time to have fun but I don't have money to spend on gambling. The reason why I said so is that my wager is always in local currency and considering the siuation of dollar rate here, if I use that % on gambling, it is going to be a extravagant life style that may end me up with gambling addiction.

I think Op have not gamble much, if at all he does, he will know how powerful the statement is for a gambler to use the money he cannot afford to lose, so that when you don't win anything, guilt and disappointment will not be the first thing that will come to your mind but where you made mistake and the necessary precautions that where avoided in the first place, learn to put it in practice and you will understand the power of that statement.

That's right, from what I have seen in many people who are addicted to gambling, there are all kinds of people who can easily fall into gambling addiction, but we must do what we can to prevent those close to us from falling into it. , there are many people like us who have family, children, dependents, it is a responsibility that should not be wasted, so the game does not justify missing some things, this means that many of us cannot see things as they are , Personally , I believe that some things are priorities in life, taking care of those who gave Everything to be who we are is an act of responsibility, but also of gratitude, a person should try to give them all the happiness possible as soon as possible. have the chances.

When these people leave there is nothing to do, it can only remain in us that we gave everything for them and that we treat them well, that is the greatest of all consolations, and that is something that in the future we do not know how it will be our old age, how we are going to take it or how we are possibly treated by the things we do or say, or the friendships we have made, that is one of the things that we must see, not only in the game that we develop but in everything possible that you may have at any given time, and above all be responsible to those who deserve it, a game, the casino, sports betting is something that can wait.

That is why sometimes when we hear and see some cases of addiction it is easy to think, but it is difficult to be there suffering from this effect that is not pleasant at all, I believe that all addiction will always bring negative things to people, I have not seen any addiction that is good, It will always have negative effects on our lives. When I see that someone is about to fall into addiction, I try to go far below, that is, to make them not feel attacked , but rather , to gain the Confidence to be Able to talk to them and to be able to help. Plus, sometimes we see Behaviors that are impractical or shouldn't be done , but it's hard to Change everything a Person Already has as a Routine.

Something that also seems to me to be not a healthy practice is to see gambling as an income option, because obviously at some point we will lose and we will lose having nothing left, that is why you must have total control so as not to fall into that mistake .

If we are basing into a normal people in this world then all we can say is that no one say that they have the amount of money to loss. Because normal people will always think that every 1buck is valuable. But in the world of gambling they don't mind if they will loss or not.  Especially those gambling addicts they don't mind their losses because all they want is to win the jackpot or let say there any to win bigger.

I agree with what you said because indeed everyone will have their own budget to entertain themselves but when entertainment is decided on gambling then everything can not go according to plan where if you only provide a budget of 10% to 20% of income and gamble but losing might get out of control and increase the amount of money set for gambling entertainment.
This happens a lot and has been clearly proven to have been experienced by anyone.

If you really want to have limits on gambling, we can actually do that by entrusting most of the income to the wife if we are married and if we haven't yet, we can also leave it to our parents to keep it.

Simple answer YES, the money I prepare for gambling is the money that I can afford to lose.
It seems that you interpret it literally so it sounds like it is something a bit bad for you.
If no one has money they can afford to lose, how can many people spend their money for other things?
When people say that they spend money that they can afford to lose in gambling, it should be understood equally to when people say that they are willing to spend some money for their hobbies.
All in all I will say it is money that wont affect them financially after they spend it (not only for gambling).

It’s true,people should split their income to different parts every month.The gamblers should have allot 10-20 percentage of money for their entertainment,So the entertainment money will not affect your monthly expenses.This was the strategy to get away from any financial issues after the loss from the gambling.Gambling profit always give you some good enjoyment and allow you to buy some more desired items.But we should think about the loss too.Because being practical will lead to peaceful life.Some of the gamblers failed to calculate their income and living the peace less life.Once you do planned expenses,you will be free from credits.

I don't see any issue in having a small but specific budget from your income toward what you like to do as long as it is not creating any problems for you in your life and other activities that require financing. One might earn enough to have savings, spend money on their home, keep their family happy, and do all other things that they need to do in their life and still have some money left that they can use for gambling if they do it only to have some fun.

I know that the money one uses in gambling can be used for something else that might be better for them in the long run, but what I'm trying to say is if someone has already taken care of that and everything else, there is really no harm in them spending some money on themselves and what they like to do in their life.

I agree that it's an issue of individual choice and requirements and not just for gaming. Here, we focus on a portion rather than the whole. It all comes down to smart budgeting

However, allocating 2% of income to gambling seems... dubious. Why not put that portion of your income toward a rainy-day fund, extra savings, or investment? Isn't it true that long-term financial security is more important than momentary excitement?

It's an intriguing idea to speculate with bonus funds. Since this money won't change anyone's ability to buy food or shelter, it could be a safer option. Again, though, this all comes down to discipline and knowing when to cut back. Spend your money wisely

The right answer I think, but maybe the OP was curious about what he was thinking and then asked in this thread. it would be very natural, because for some people have many questions in their minds. in particular, as we discuss in this thread. We've had a lot of discussion about gambling on these boards, there's been mixed feedback from the community. in fact there are many who say, gamble with money you can afford to lose, even I myself often say this repeatedly.

To represent the OP's question, you have answered it straightforwardly and precisely. and what we mean by saying, money that is ready to lose, is one of them, as you said in this post. it's just that sometimes in practice, it's not as easy as we say. Even though we know very well about this idea, sometimes we can get carried away and even be able to spend a lot of money to gamble. especially, when we are on a losing streak. it's hard, to stop the gambling session when we are controlled by emotions. because psychologically, we tend to be compelled to do it again and again.
ideally, this idea should be accompanied by responsibility and self-control. thus, the points you say are in line with the money you are prepared to lose in gambling.

Yeah maybe he doesn't have allocated amount on anything and the only thing he have is his hard earned money that's why he cannot afford to lose it on anything he want to do with his money. But actually majority of people have allocated budget for gambling and that one is their excess money coming from the one they earn somewhere then they can afford to use that whatever happen to it. We see a lot of people goes this way that's also the reason on why we see gambler still happy whatever result they encounter.

I think the reserve money referred to is not really used, namely setting aside a certain budget by limiting the budget for gambling, for example, there is a reserve money of $ 10k so 2% can be used for gambling, not all reserve money is used for gambling, maybe there was a communication error that made this is getting awkward and confusing to the OP.

After all, it all comes back to self-control when gambling, we still have to be responsible because if we can't do that, it's best to stop gambling, because it will obviously use up the reserve money that is also needed for later living needs or you can also use bonus money, for example when we work If you have bonus money, why not try it for gambling, because it doesn't have to be spare money, meaning money that really isn't used for life's necessities.

"Being able to afford to lose something" is a phrase that does make sense. You can change in around and argue that there is opportunity cost, which by the way is involved everywhere, but there is definitely a difference between someone gambling for a weekend and not being able to pay the bills the following Monday and someone gambling for a weekend and being able to pay the bills despite losing.

There is opportunity cost of involved and literally most things are better than gambling, but imagine losing 200 dollars gambling on a weekend and instead you decide to get wasted and socialize with friends. Even now you could argue that gambling is better because you didn't fuck up your body with alcohol. But some will say that the socializing aspect was healthy. There is no end to this discussion because there are also these few people who will say that because they got lucky in gambling, they were able to pay their bills the week after.

It depends on how you view gambling, there are people who are willing to spend money in a planned and orderly way.
A small example, where I live, there is a coffee shop where football fans watch matches together. For matches between 2 top clubs it's usually crowded with crowds and lots of face to face betting offers, the max bet isn't as much as let's say match ticket price and I don't mind taking several of those bets at once.
I don't expect me to win, I just enjoy the thrill of watching when I bet for my favorite club, like watching the match live in the middle of the stands.

Good for you then that you have an amount where you consider it on the tier of "afford to lose" and that's it.

However, there are people who have the same approach but after losing, "are those losing amount is really afford to lose"? Believe me, even most gamblers will say they afford to lose that amount after losing in gambling, there's a thing on their mind saying contradicting what they're saying.

I don't believe that even gamblers will say they afford to lose that amount, that lost money doesn't matter. That was bullsh*t. They surely will attempt to chase those losses and will be eager to do it no matter what. Another sh*t happened will happen later on.

It is the right thing to take care of the elders.  They are the reason why we exist in this world and our parents did their best to provide our needs.  And now that we are capable, we should always take care of them to the best of our ability and never abandon them.  Obviously, we need money to attend to their needs so we should be vigilant on the amount we are spending in casino.  We must only spend the money that we can afford to lose.  The money that is not intended for our family needs.  if we don't have any extra money, we should skip our gambling activities instead.

Well, something must be emphasized here, the family, especially people like parents, grandparents, are the closest relatives we can have, the ones who keep them alive, we must take advantage of them, take care of them, be responsible with them, without these people we cannot we would have life, so when we begin to think that the money that is invested in a casino I say invest more, not spend or throw away, because a casino should not be seen as an entity that provides a service, that this service should not be abused because It can hurt us to capitalize, so when we have responsibility for things, the casino, sports betting should never be above our family, and that includes having responsibility.

There are people who are always looking for a way to have more money, and sometimes greed makes them lose everything, because they have no responsibility in their bets, when we are in a game with money, it is like that responsibility similar to when we are driving a car. car, it is our responsibility any movement we make, you should not think that the system is the one that deceived us, that they robbed us in the casino, because it is not like that, in a casino they do not say how much money you must bet, only the established minimum amount, but from then on what is going to be opted is the responsibility of the player and not the casino.

We must be clear about this so as not to have a bad time, and those bad times are irresponsible, that's why I have always said that my method of playing is the best, only having a part of the money to lose and that's it, if it was lost it doesn't matter , it was lost, it is assumed and now, if it was won, then it is celebrated and it is decided what to do with the money won, if it is withdrawn or if it is invested again to play, although I am inclined to withdraw at least 50% of what was won and leave the rest as an investment in the casino, to continue playing, so as not to lose all the profits, it is a good strategy so that we can do things better and see some profit from what we do.

Gambling is like buying a lottery ticket, the different isn't much, it comes with 1% of possibly getting lucky, imagine a family man setting his goals on such thing, this will bring havoc on such a family because things will eventually fall apart.

I have my older mother left, and I have to take good care of her, that includes my family too, so with great responsibility on me, imagine shifting my focus on gambling as a source of income, it's like rewriting one's fate by himself.

That is not true, if nobody had money to lose, why are then there places like cinemas, bars and other activities like indoor sports? They all cost a lot of money and only give you joy for a few hours. Clearly people are having enough cash to spend it on leisure and consumption of unnecessary items. When it comes to the advice to not use money that you can't afford to lose it is meant to be for money that you need for important things. For example, you shouldn't gamble with your rent money or money that you need to feed your family at the end of the month. I would say that the majority of people have a budget from their monthly salary that include unnecessary items that could easily be cut off if they needed the money. For me gambling is something I do every month and I allocate some of my monthly income for it, like buying magazines or sweats, new clothes or going out with friends. These are all things that are not important to survive, but they bring me joy and let me relax after work. There is a difference between money that "I can afford to lose" and money that "I don't want to lose". In case you are saving for something big, like a new car or a new TV then you also shouldn't be using that money for gambling.