Topic: This is not Practical - page 8. (Read 1145 times)

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.

Factually, there's no money we can afford to lose as long as we work for it. We wouldn't have bothered to earn it if we can afford to lose it. That statement "money you can afford to lose" is just a figurative statement that virtually refer to money that will not have much impact on you if you get rid of it. People plan ahead before even receiving their salary and you could see it is almost impossible for one to have money they can afford to lose. However, there are money that have less important things attached to it and losing part of it will not be felt with severe emotional cripple.

No matter how little the amount is, you might feel bad thou but not compare to when you use money meant for most important things like feeding, rent and others. Again, use money you can afford to lose.

It's not that they don't have a plan for the money that they suggested someone should use the money they can afford to lose. Of course, as soon as we have money in our hands, we instantly start making plans on how to spend it. Therefore, what they are saying is that someone should spend the money so that, even if he loses the bet, he won't run into any financial difficulties. They insist on this since it is obvious that gambling is risky; therefore, if you decide that you won't gamble with a lot of money, you are protecting yourself from many things and avoiding yourself from needless stories that will follow.

However, there is no money that we can afford to lose because, even if it's a modest sum, we worked hard for it and losing it won't make us happy. However, if you want to gamble without worrying about your finances, just spend the money you know you can afford to lose even if you win.

But if their goal is to make money gambling, it will require a lot of money. But if they think that the money they are using to gamble is money they can afford to lose, they will have no regrets. And it's true that we should gamble with the money we can afford and never increase the money if we can't afford to see a bigger loss. We must prevent bigger losses and that is the responsibility of each gambler so they must pay attention to how much money they have used to gamble.

Even if you are good at managing your bankroll and you should still consider money allocated for gambling as something that you cannot make a profit from, it's wishful thinking to think that you can double, its a stroke of luck if you make money from gambling, but that will not always the case.

You're on the safe side always if you only use money that you can afford to lose because if you're using money that you can't afford to lose you will be in trouble financially and you will be depressed, so set aside for gambling and don't expect that it will yield profit, gambling is different from doing a business.

Afford to lose generally means some portion of your income/wage that you will not spend for your current month's necessary expenses like electricity/telephone bills or rent or food etc. People are suggesting not to ever go above it so you can enjoy gambling while keep on living your life without losing any advantage. Its not very practical I assume but its not very hard to calculate your income/expenses ratio especially if you have fixed income like most people do.

Yes, the reason being that I have already allowed myself for some fun time in gambling which contributes to a mentally healthy lifestyle.
I have allocated a budget for gambling which I consider affordable to lose and it is going well.
I am not a high roller and so I try to do micro betting from the small amount I have allocated to gambling.

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.

It depends on your perspective, if you think the money you lose is an opportunity cost, it's mean your purpose to gamble is for making money. Although some gamblers can beat the house and double or triple their bankroll, but most of the gamblers are loss. That's why we should consider the money you lose is a money you can afford to lose, it's mean your purpose to gamble is for entertainment. The entertain in gambling is when you feel the music, when you have a conversation with other gambler, etc.

Of course, that's already our mindset with the money that we gamble, we are just looking for that opportunity to double or have it multiple more. But in any case that it didn't happen because we are are unlucky, then that is ok.

At least we have fun and then we can sleep at night without having to think of the money that we have lost or have regrets losing it. For sure there could be gamblers looking for big win with their small amount of money and maybe this is what the OP is referring to.

Yes, I don't expect too much that money can be double, triple, and multiple. So, When I use the money for gambling, I'm ready to lose it. That strategy makes me play relaxed, don't have a target win, and have fun. Even if I win, I usually use that money to try for to next game until completely exhausted from living my initial capital. Because gambling is just a hobby, not a job that has the target to bring money to home.

No, people definitely have money they can afford to lose. Otherwise, people wouldn't have been able to manage their lifestyles of working, paying bills, maintenance, other types of fees together with their hobbies, which by the way, costs money (It's this part that we call we can afford to lose). It simply seems "theoretical" because you consider paying money for your hobbies or enjoyment the same as money you'd spend towards bills and whatnot.

Not that I blame you, outside of here, a majority of gamblers (and bankrupted ones) don't even probably know how to financially manage themselves. This is why learn that, before even considering spending money regularly on something.

Yes, I only use the money that I can afford to lose. The reason behind this theory is so that you don't start chasing you loss,when the money is gone into gambling. If you use only the funds that you can afford to lose,you will see it that you have already made up your mind to use this funds for pleasure by using it for gamble because you know that you have already lost it even before you started the game.

Personally any money that I budget for gambling isn't my anymore and I don't except to make profit from it. I see the funds as a sacrifice for me to use in entertaining myself to make me happy. Using important money for a basic need for gambling will make you uncontrollable in your gambling activities but you will be controlled by your emotions. When one is controlled by his emotions,that person is few miles close to addiction.

Maybe 3 out of 10 could stick to this rule whereas the rest will gamble on the go. In reality people just gamble with the allocated fund and loss everything. This is where the real problem starts, as majority wants the loss to be recovered. Here the user will start using the money kept aside for his life needs. This is how gamblers easily get out of the slogan use money that you can afford to loss. The person who have understood well takes a break while the other borrow or use the money for important needs and spend on gambling.

Same here, I only gamble the amount that I can afford to lose.  The free money is not allocated to monthly budgets, bills, and other stuff.  So it does not affect or hinder my financial responsibility, even if I lost all that money in gambling.  As far as I know, gambling what we can afford to lose is using money that even when it is lost will not bring us any hardship.


Well, I also believe that the thing that does not kill us no matter how much trouble that thing brings us makes us stronger.

Of course, no one wants to lose money, but as the saying goes, "Use only what you can afford to lose." It means that the money you spend on gambling will not affect your finances. It's like a designated fund for gambling and has a separate for important things. As a result, even if you lose it, your other financial needs will be unaffected.

I used to spend in such a way that my daily life doesn't get affected out of the losses. What I spent is something that can be used for so many needs, but the interest on gambling drives me and makes me part of gambling. Anything that cause you some financial problem needs to be stopped. There are people who set limits as $20 for a month and so on, such allocation is better than just gambling.

You should start and know to read between the lines mate, there is a deeper meaning in that phrase. Yes, sure that money is a precious thing because it can help us to meet our ends meet and help us to survive in a daily basis but if that money will be used to pay for the bills and other expenses, then that money should not be gambled.

The true meaning of that phrase is that you should only gamble the "excess funds" meaning, a money that is free and will not be used in something more important because in gamble, there is no telling if you can win or not.

the phrase "only gamble the money you can afford to lose" basically means that money that will not affect you financially if you lose it to gambling. 

just because you use money that you can afford to lose when gambling does not mean that you do not need to budget it or how to manage it properly.

yes, I do. using money that you can't afford to lose can always lead to disaster.

If you really want to gamble, their are some certain amount that if you lose it’s going to affect you, some might even affect your health challenges, you shouldn’t gamble with money like that, but their are some money that if you lose, you won’t feel anything, you won’t even think about it, I think that’s the kind of money which you are suppose to be gambling with. I know nobody wants to lose money, but in gambling their is always profit and loss and the risk which some people do take is really high when gambling and if they lose it will end up as a problem for them. That’s why people do recommend to always gamble with the amount you can afford to lose.

Yes am gambling with the amount I can afford to lose, because I know any amount I lose from gambling won’t affect me in any way negatively, and I do gamble for fun, so whenever I know am losing money then I know how i control myself and I will stop gambling, their are some people that do sell properties and do take loan just to get money to gamble, and after gambling and losing they will end up regretting.