Topic: This is not Practical - page 7. (Read 1460 times)

In fact, what we say is more of a reminder to fellow gamblers in the community. besides, we are in a community that tends to be actively involved on the betting board. so, there is nothing wrong if someone says that. in fact, I often read comments like that. no exception, I often say it myself. however, it does not mean that we will always be consistent and always disciplined in implementing such ideas. it's just that, ideally gamble with money that you can afford to lose, that way you won't experience losses that you regret later. and isn't this a positive thing for us gamblers.

Well, related to what you said. in fact, in practice it is not as easy as we say in this discussion. because after all, psychologically humans have emotions, every emotion has an important role when we are active, including during gambling sessions. You can apply ideas like this in your betting method. it's just that, it must be accompanied by an understanding of gambling itself and at the same time have responsibility. if, once in a while you do excessive things in your gambling. you have to remember, and return to the method you apply. concepts like this, will be very helpful even though in practice it is not as easy as we discussed.

Gambling is an exception of it.

Yes.
I'm thinking that it's gone already when I gamble. That's why the thinking that I've got is not pushing me to my disappointment when I lose. And that is because I've already accepted the fate of where my money will go. So, the approach will have to depend on myself as well and I am just enjoying every cent of it.

Always use the amount on which you can only afford to lose and % would definitely be depending on a certain individual because we do differently make up money or having that kind of income on which it would really be just normal that you would really be needing to be mindful on how much you do spend because if you cant really be able to monitor it out then you might potentially be ending up on
wasting and spending on the amounts  which arent supposed to be spent out on gambling or you do have other priorities on which all we do really have that. Dont go beyond into those limitation of
yours when it comes to this matter on which you are really that spending on the amount which arent supposed to be used on gambling or else you would really be regretting on what you have done.
Be mindful and be wary about on the actions you are making and not making yourself that dumb because you would really be able to tasted that extreme regret of decisions once things
have done or already happen and its better to avoid that much as possible.

Im not sure what part of the world you come from, but there are absolutely plenty of places on this planet where people are making enough money they there is extra money that can be spent that can be considered “money that one can afford to lose”.

So I have to say I completely disagree with your assessment OP.

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.

Actually, it's true that no money that is earned after working hard is extra or is affordable to be lost, but when we have different expenses and activities that require money, we set a budget for each one of these things and we use them accordingly, now the money that one can afford to lose in gambling is basically the budget allocated for gambling or the extra money that remains after creating a budget for each expense for the month or the week.

Now though it's true that no one likes to lose money that they've earned in some way, even if it's being spent on something they like to do, it would still feel bad if they don't get anything out of it, I know gambling is fun and you get entertained from it but having some fun on the expense of losing money is not an easy thing to do.

Your theory totally ignores that many people have slack or spare capacity in their salary Vs outgoings. If someone earns $3k per month, but only needs $1.5k to cover expenses, then that free cash flow can be spent on anything - whether it's entertainment, investing, buying something for their hobby, or whatever they like. It is not for you to judge how they spend their money, because some people will call a hobbie a waste of money but even if they gave the spare money to charity - they earned it and are free to spend it however they like. What you said only applies if they have zero spare cash available after bills.

I think you are looking past the actual saying and what people talk about.  There is certainly a portion of everyone's money that would negatively affect their lives if they lost it, that's what they are talking about.  If I lost $10 in a certain week it wouldn't change my bills situation, money for gas, food , etc.  If I lost $10k in a certain week that would impact my life greatly.  So what it means is, money that wouldn't move the needle if you lost it.

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?

It will depend on the gambler on how they handle their finance. There are different ways to budget your money and there are people like me who has a budget for entertainment. My entertainment budget includes my gambling funds and other expenses that is on the scope of entertainment. There are gamblers who don't really do budgetting and they are the one who typically includes the money for their needs on their gambling money. If you are a gambler, budgeting is a necessary thing to do and following it should be strictly made.

The first thing you need to understand is that gambling is an entertainment that is impossible for a person who has no money.

The second is that in the long run the probability of losing is slightly higher than the probability of winning, because the casino has an advantage over the gambler.

The third is that it is foolish to risk borrowed money or money that is intended for important purposes.

Even from these three points can be understood that gambling should be played only with money that you are not sorry to lose. 

Those are the words of the term so do not eat raw by you and then interpreted with open eyes without understanding the contents, Why do we have to have a plan, and have a budget in gambling because the average person becomes excessive in gambling that destroys their finances, of course it is a bad thing for everyone who does it excessively.
Yes I spend money in gambling is the money that I can get rid of and I will not feel stressed or become a burden of thinking if the money runs out in gambling because basically I have to pay the pleasure that I have gotten from gambling, I think the sentence is better.


If he sees it, in this perspective it's the same, you want the cost of opportunities, the cost of pleasure with the other, I think it is equally, so it is important to understand the meaning of the sentence.

Yes. I can confidently say that I manage to save after my monthly regular expenses so I get my gambling fund from there if my bankroll has been depleted. I often treat the money to be spent on sports betting or games as an additional expense since I don't expect ROI in the long-term.

If they get lucky, they can win a lot of money. But the reality will not be like that because there are already many people who only get more losses than wins. We won't be able to win, let alone win big, without luck easily, so we must realize that we only use the money we can afford. It was to avoid a huge defeat we could not see and would surely regret later. And using the money we can afford to lose doesn't make us feel too disappointed because we know that that can happen in gambling.

This is just setting up the mindset that gambling is at least with money that can afford to lose it and also gambling wisely including limiting the budget, we don't discuss problems in oneself in gambling, it's always reminded for beginners not to be addicted to gambling so you might find it everywhere, because indeed most addicts come from there they do not limit the budget nor gamble with money for the needs of family life.

I know it's impractical so don't gamble if you can't limit your budget nor can you control yourself to spend money on gambling, because speaking of gambling we will never win against the house and that's why that mindset is instilled, humans will never escape nature. greedy despite seeing an opportunity to win and bet. so don't gamble if you can't manage yourself.  

How painful can 1$ on gambling be when you make 100$ in a month? Everyone has money that they can afford to lose, what you lack is simple math, how much are you making? What could go wrong if you lose the little fraction of what you making?

If I am making 100$ per week for example, I can decide to play five times in a week with 1$ and that's 5$ on gambling per week, brother I still have my 95$ left, do some math brother, if you don't have money you can afford to lose, it's because you are using a high amount that you aren't ready to lose.

What can 5$ do for me? Transport, buy a beers, eat some cookies, many buy monthly data, I can afford this, and if I lost 5$ what would that do to me? Nothing, so use the amount that wont do a thing to you if you lose it in gambling.

The thing is many people want to earn a lot in gambling, they higher the money the better the reward, I don't play in such ways, because we all know that the chance of losing all money is high in gambling, I always go my minimal to avoid stories that touch.

This is a very clever question, and never thought about it before in that sense.

Now that you posed it, Maslow's pyramid of needs comes to my mind (because it is the most famous theory, but you can apply yourself the one you like most).


Source: SimplyPsychology

So, back to your question, to me more than the money you can afford to lose, it is more about the opportunity cost, indeed, and when we say this sentence we mean that one shouldn't waste the money he needs to fulfil the basic needs in gambling. Of course, different individuals will have a different sense of what is basic for them, so the advice when we recommend not to spend more than the affordable would rather mean to find the proper balance.

Not quietly it is since there are still low ballers can earn especially when they are lucky but this is not always happen gonna happen also with whales since there are times that we are in bad position. We should think about stepping always on reality since if we expect more like we can earn a lot of money with gambling instantly maybe we will be in bad position which we can't afford to happen so we should always pay attention on the money we use so that we have discipline and will not waste all our money for wrong expectations.

Some people see gambling as an entertainment. These people are actually buying something while they are gambling. So let's just say these people can afford to spend x% of their monthly income on something that has entertainment value. Like watching a movie for example... How is this different than gambling? You lose money when you watch a movie too...

You probably don't this angle and that's why you think people can't afford to "lose" any money on gambling.

Following your logic, people that smoke cigarettes are also "losing" money and their health is getting worse doing it. Yet billions of people still smoke every day. Why? Because they like it.

This is one of the reasons why the rich call the poor the most greedy, because every penny means so much to them, and if every penny means so much how will you even take risks with investment? That's why the poor hate investment, the first time that comes to mind is they are going to lose that money, if you aren't ready to lose how will you win?

I am very much into this topic because there is a lot to say about it, see, it's always about the mindset, if yours plays the trick on you it's over, why do people feel hesitant when it's time to buy Bitcoin? Why do people find it hard to accumulate Bitcoin? You think it's always about the lack of money?

Now, back to gambling, there are things we do in our daily lives that makes no sense, or let me say in the lives of poor people, they don't have money to lose, accepted, but they have the money to use of alcohol drinks, they have the money to waste on friends that wish them no good in life, they have the money to carry prostitutes.

The best advice is use the money you can afford to lose, it's the same money you can afford to spend on drinks, throw a party, buy unnecessary things.

Yes I have the money I can afford to lose, that's why I made it this far, I avoid getting broke because I use what I can afford to lose and I also take risks to change my life and it's working because I can withstand losing some dollars.