This is not Practical - page 6. | Bitcointalksearch.org

danherbias07

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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?

Yes, it is. But, it would always be better if I can win in the money that I can afford to lose. Don't get me wrong, I may swallow the fact that the house has a higher chance to win in casino gambling but I will still try to win it no matter what but with only the money that I deposited and nothing more.
It doesn't mean I will give it up as easy as it will be, different strategies will be used to maximize the chances of winning than sticking with just one game.

I think most gamblers have this kind of point of view. There is a budget but they are just wasting that chance to win a jackpot or double it up to create more possibilities and win against the house.
I see some who could lose their entire weekly budget in a day, I guess controlling it will also be a key factor if you want to lengthen the money that was set for a whole week or more.

xSkylarx

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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 just another word for spare money, like you haven't allotted that money to something else as you've already budgeted your other money; it is a spare money that you can spend off; it is like you will have a budget for your beers and smoke, which is the same with gambling, where you use it only for gambling and not intended for others. Yes, no one can afford to lose their money, but again, it is about controlling your money and not going over it. This is like purchasing some entertainment through gambling with that money.

davis196

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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?

I think that everyone, who has a decent standard of living has a monthly budget for entertainment purposes. He(or she) could spend that budget for going to the cinema, going to a short vacation, buying a new video game or playing gambling games at some online or offline casino.
The gambling industry is basically entertainment industry. The people spend money for entertainment, it doesn't matter if it's gambling or something else. The money, which are spent for entertainment fall into the "money you can afford to lose" category.
I don't advise people, who don't have a big enough monthly income to start gambling. This is a big no no.

retreat

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It's true that no one is willing to lose their money even for the slightest amount. But when you have allocated it and are prepared to lose it from the start, the feeling of regret or loss will probably be lighter than the money you didn't allocate before.
And this method will also help you to be able to manage your finances so you don't mess up, because from the start you have allocated funds for your gambling and when it crosses the limit that you have set, you can see how your gambling is performing, whether it is profitable or not. .

ethereumhunter

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Quote from: Fundamentals Of on July 17, 2023, 10:39:22 PM

Why do we have to make an issue out of this? I think it's pretty much clear and self-explanatory. No debate is necessary. By "money that we can afford to lose," we only mean money that is not intended for something else important like rent or bills to pay, tuition for you child, regular checkup for your old sick mother, etc. That's the kind of money that is being referred to.

Me, I'm gambling with my extra savings, exactly something that I can afford to lose. It's not money that, if lost, I'd be missing a meal.

Obviously, it is free money from all the necessities we need to meet our daily needs so that it will not interfere with our expenses. And we also don't need to worry if we will spend more money later because we already have a budget for gambling.

We set a budget for gambling in addition to setting a budget for daily needs. But that requires good self-control and restraint so as not to cross the boundaries we set. Even though we may break those limits one day, we can still control them one day and not go too far playing gambling because we still have clear boundaries in gambling.

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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?

In my opinion, what is meant by using money that we can afford to lose is more emotional, meaning that your emotions don't become drained when you lose the money because the money is not for an important purpose, such as paying bills or buying groceries, which is a major need. When we use money for our main needs, even though the amount is very small, of course when we lose it it will greatly affect our lives because we will go into debt to fulfill this, including when we use money beyond our capacity or use money in gambling unwisely, such as using money saving and betting a large amount where we know when we lose the money it will endanger our finances.
But indeed it becomes a theory when players never realize it and try to change the bad things that are done in gambling such as having no limit in gambling.

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Quote from: Nrcewker on July 15, 2023, 09:48:57 PM

The phrase “gamble only the amount that you can afford to lose” signifies that, bet or invest that amount which you won’t require urgently for other purposes. If by chance these money gets in losses, then you should have sufficient money to survive. People often gambles with money that is required to pay their monthly bills and that is required to survive. So many have advised to avoid these type of funds. This is practical and very essential. If you have some extra money or savings, gamble with that only, as if you lose it also, you will get more chances in future to save those.

When we have extra money, it is usually put in our piggy bank or savings account, and the money there shouldn't be touched anymore because it is allocated only for emergency use. We can still be able to play gambling by dividing that extra money we have. Other than having enough money, we also don't regret heavily or we won't be depressed if we lose in gambling by playing only amounts we can afford to lose.

I've seen lots of gamblers who complain that they lost their money that is supposed to be for their rent and other important things like you said. I think these people are already addicted to gambling but maybe it's not too late yet for them to change it.

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Quote from: Davidvictorson on July 17, 2023, 11:16:56 PM

I have a family and that has dropped on my huge responsibility. May parents are old. In my culture the kids take care of the aged parents. And the older kids look after the younger siblings. Therefore, it will be disastrous if the money I gamble with is what I cannot afford to lose. I am responsible for these people so I cannot be irresponsible with money. Trust me of it is for gambling which I consider entertainment, then it is money that I can afford to lose.

People who are of the same school of thought as the OP are individuals who believe that gambling is a source of income..

When it comes to family responsibilities, I don't hesitate to lend a helping hand to my loved ones in need; I owe them everything. Gambling revenues are not what I aim to utilize to solve my family's problems; I have an appropriate profession that earns smoothly therefore my gambling activities are petty cash that I use to meet minor necessities. There is no culture that does not teach us to care for our elderly parents. If we have a good reliable source of income, it is our obligation to take care of them and keep the family in balance. We used our money to solve the problems we were having.

Davidvictorson

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I have a family and that has dropped on my huge responsibility. May parents are old. In my culture the kids take care of the aged parents. And the older kids look after the younger siblings. Therefore, it will be disastrous if the money I gamble with is what I cannot afford to lose. I am responsible for these people so I cannot be irresponsible with money. Trust me of it is for gambling which I consider entertainment, then it is money that I can afford to lose.

People who are of the same school of thought as the OP are individuals who believe that gambling is a source of income..

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Quote from: Fundamentals Of on July 17, 2023, 10:39:22 PM

Why do we have to make an issue out of this? I think it's pretty much clear and self-explanatory. No debate is necessary. By "money that we can afford to lose," we only mean money that is not intended for something else important like rent or bills to pay, tuition for you child, regular checkup for your old sick mother, etc. That's the kind of money that is being referred to.

Me, I'm gambling with my extra savings, exactly something that I can afford to lose. It's not money that, if lost, I'd be missing a meal.

We obligations and goals that need to be reached in all situations. We work inother to take provide for our needs and primarily to take good care of our families. The better we planned to understand that earlier, the better. Gambling with non budgeted money would do the justification, anything outside that is gambling with an entirely different perspective. I make good earning from my profession, and I'm not ready to compromised my status, which is simply using planned finance to gamble, trust me when I say, it would only leads to instability and more pending debts.

Fundamentals Of

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Why do we have to make an issue out of this? I think it's pretty much clear and self-explanatory. No debate is necessary. By "money that we can afford to lose," we only mean money that is not intended for something else important like rent or bills to pay, tuition for you child, regular checkup for your old sick mother, etc. That's the kind of money that is being referred to.

Me, I'm gambling with my extra savings, exactly something that I can afford to lose. It's not money that, if lost, I'd be missing a meal.

topbitcoin

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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?

I think it's like you have a plan to travel or take a vacation somewhere and budget it not to use excessive money which can eat up a lot of your money, you also need to prepare your money planning and see how much money you can afford to spend/vacation for vacation .
Just like in gambling, I think it's the same, and the concept of using the money you can afford to lose is the result of your financial planning calculations for gambling and looking for fun there, you're free to talk about it to pay for the chance to win, but it has no meaning or meaning affecting the output of the same conclusion.

Until the day I gambled, I always used money that I was ready to lose, because I needed gambling as a place to entertain myself and there you need to manage your finances well, if you use money that you can't afford to lose then what will happen to you is that you feel sorry and want recover that loss.

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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?

Not everyone is as broke as you are, you know? When you have had your finances under control for years and you have savings and investments, you can spend some money on gambling just as you can spend it on dinner or drinks. It's not for a need, as you say, to spend it on a few drinks in a pub or gambling in a casino.

So yes, in my case I can afford to lose it. And I'm not the only one.

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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 all depends on the gambler and I consider gambling as a form of entertainment or it should be seen as a form of entertainment not as a way of making money and that is not sound advice. It's important to have realistic expectations and remember that you can't always win.
So I use the money I can afford to lose or the extra money after prioritizing what is important and for me to use for entertainment or pleasure. Like most people go to a bar, play pool or something to entertain themselves because spending a little money on what they think is fun has nothing to lose. And I consider gambling that way, after I'm tired of working for five days and only play on weekends, and that too if I want.

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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?

Most of my deposits are amounts i'm willing to lose because gambling is always the least of my priority when it comes to spending money. And with the low minimums of most crypto casinos nowadays, it's easy to spend a couple of dollars as a budget for gambling. I agree that most of us don't prefer to lose our money within minutes of gambling, but like most of the posts mentioned there's always a portion of money that we're okay spending anywhere else.

Ryu_Ar1

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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?

Instead of saying something like that, it would be better to say that there is a budget in advance for something like this.
Financial budgeting in planning to be done is not only about primary, secondary, unexpected needs, investment or savings but even expenses such as gambling will be better if there is budgeting in it.
Even if it is not big but if we really want to gamble every week or maybe every month I think this will be much better than having to say gambling when ready to lose.
Although that's not wrong either but like you said it's more theoretical and in the end it's like we have an excuse to keep depositing again and again because you're ready to lose it without calculating how much is spent on gambling.

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Quote from: Weawant on July 16, 2023, 01:20:25 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?

A more appropriate word to use is "spare money" for gambling, they're the same thing but when you use spare money it means they're money you have kept aside that isn't needed for anything important. You're not willing to throw away that money but if it happens, so be it.

Gambling money shoudn't be much so you can always keep aside few dollars that'll be use for gambling. This could be money you reserved for going out to have a drink with the boys. You can try to double that money with playing bets and if it happens you're lucky as you have more spare.

I always try to stay on budget when I gamble, I don't use money that wasn't intended to be used so yes I'm using my spare money but I won't say I'm willing to throw that money alway but if as a result of trying to gamble to receive more money I lose this one I won't be mad.

Keep in mind, too, that the term "extra cash" may lull you into a false sense of security. Since these are not essential funds, perhaps you will feel less bad about losing them. Still, it's your own money, and it's not a good practice to regularly waste it

Setting a limit, adhering to it, and being ready to walk away when you've hit that limit is the key to gambling responsibly. It's fantastic that you have a gaming budget in place, but it's also important to take stock of your condition on a regular basis. Do you lose more money than you win as a result of your gambling habits? If that's the case, maybe you need to reconsider your approach

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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 misquote and misunderstood the concept of using the money you can afford to lose, the notion of that is to use the money you can forget easily and not the one that will affect you financially, psychologically, and emotionally. Just imagine that you have a school fee to pay a week before the closure and because you are financially down, you decide to use it to bet over 1.5 on any football match, and then, in the course of the match, they played under 1.5, that ticket is good as gone and your money is gone as well. For someone who is in need of money and there is a deadline for school fees, you will be worried and maybe running up and down looking for a possible solution to pay back the school fee, I hope this analogy and example will help you out.

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Quote from: coin-investor on July 16, 2023, 05:00:35 PM

Quote from: Eureka_07 on July 16, 2023, 11:35:25 AM

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

Try going back and analyze the definition of theoretical and practical. You should realize, that phrase is practical. It is not theoretical since that concept does not deal with hypothesis of anything related to that. I don't even know why we are need to discuss this thing. Lol.
Answering your question, yes, now I only play using the money I afford to lose. How 'bout you?

If OP holds a poll here the yes will be the dominant answer and the majority's choice because that should always be the case you cannot use your saving, or your budget to gamble, and money for gambling should be allocated and you should be ok whatever happens with money, not something that you will make out of it, even if treated as an opportunity cost its still money that you should be comfortable losing.
I would not even think of using money that's allocated for emergencies for gambling that's a big risk on my part and if I lose it that will have a big blow to my finances.

this is quite simple. if you are using the money that you can afford to lose, it means, you can go on with your life even if you lost such money. so yeah, for now, i only play what i can afford to lose. more than what i allocated would give me difficulty in the coming days. and that amount varies from person to person, depending on his income and the spare money he has and what he feels is the right amount to spend on his gambling.

coin-investor

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Quote from: Eureka_07 on July 16, 2023, 11:35:25 AM

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

Try going back and analyze the definition of theoretical and practical. You should realize, that phrase is practical. It is not theoretical since that concept does not deal with hypothesis of anything related to that. I don't even know why we are need to discuss this thing. Lol.
Answering your question, yes, now I only play using the money I afford to lose. How 'bout you?

If OP holds a poll here the yes will be the dominant answer and the majority's choice because that should always be the case you cannot use your saving, or your budget to gamble, and money for gambling should be allocated and you should be ok whatever happens with money, not something that you will make out of it, even if treated as an opportunity cost its still money that you should be comfortable losing.
I would not even think of using money that's allocated for emergencies for gambling that's a big risk on my part and if I lose it that will have a big blow to my finances.

Topic: This is not Practical - page 6. (Read 1495 times)