Threshold of Loss in Gambling - page 2.

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Quote from: Davidvictorson on July 12, 2022, 10:36:58 AM

My question is, can you remember a time when you reached your threshold of loss while gambling?

My threshold losses are money I deposited I will not deposit anymore until I lose all that money, I was always tempted to add more when luck is on my side, sometimes I add more but make it a point to control and only deposit that I am comfortable to lose usually I only spend $100 for a week this is already a big sum of money in our local currency and the biggest I deposited was $300, that's the money that I consider a threshold loss.

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Quote from: Davidvictorson on July 12, 2022, 10:36:58 AM

Gambling is fun. And it doesn't matter whether you go to a land-based casino to bet or an online casino. When we bet, we celebrate our wins and count our losses. According to this study, the researchers found that gamblers are satisfied with small wins and will tolerate small losses but when they hit the threshold of loss, they will not play anymore. I will attempt to define threshold of loss as regards gambling as the minimum intensity at which a gambler can no longer tolerate a loss.

My question is, can you remember a time when you reached your threshold of loss while gambling?

Completely depends on how addicted you are to gambling. If you are very addicted, there is no loss limit. I know a friend who won't stop until he losses every penny he owns. He won't stop at anything. Granted, he is very talented when things work for him but it doesn't always work and that's the issue. He could make $30 into $2000 in a day and the very next day, lose that $2000 into 0. While some people withdraw any profits and then just gamble until they lose it all or win massive.

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It seems to me that any gambler has faced a situation where he lost all his money in an evening. At least I had a few times, and of course after such losses, I was very angry at myself that I could not stop in time. Currently, I'm not angry at myself for these losses as they allowed me to gain experience which allows me to think carefully first and then act. As they say, some people get experience for free and others have to buy it.

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Quote from: RikandMorty1 on August 10, 2022, 06:32:55 PM

Quote from: Davidvictorson on July 12, 2022, 10:36:58 AM

My question is, can you remember a time when you reached your threshold of loss while gambling?

A true gambler doesn't have a threshold loss, one would only stop if there is nothing else you can sell to gamble with.

Unfortunately, not everyone is a true gambler so many of them will decide to quit.
But some gamblers continue to gamble and deposit more money to recover their losses.
Many of us can stop before we lose our money and take a break to lower the tension after playing gambling and this may have something to do with the threshold of losses while gambling.
It is clear that when we almost lose all the money, it is better for us to quit than to lose all the money.

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Quote from: fiulpro on July 12, 2022, 10:51:38 AM

If am investing 80$ in Gambling, then I do understand that if I am loosing very fast and I have already lost more than 90%, I am not going to invest any more money in there since I know my luck is not on my side as well, so what I would do is to use all that amount that I do have in there and would not attempt to further add any more on the same day or even on consecutive days, for me threshold does not depend on the Money that I invest in Gambling but it does depend on how much I have lost, what Percentage have I lost, which is usually, 90% but my anxiety starts calling me at 50% usually.

Honestly, it's good and I like the way you do gambling, it can be said that you are a responsible gambler who has self control and you know where the limit is as a gambler on a gambling platform. It is really important for a gambler that he should have a percentage of how many he should lose and win and then stop first and come back another day, and that's what you do mate. Keep it up, God bless you more.

Quote from: RikandMorty1 on August 10, 2022, 06:32:55 PM

A true gambler doesn't have a threshold loss, one would only stop if there is nothing else you can sell to gamble with.

But I think it's still important to know what your threshold loss is so you can control the amount of money you use for gambling, right? Although on the other hand, gamblers will not notice it immediately, but it is still important for us to know.

Quote from: erep on August 10, 2022, 04:12:49 PM

The allocation of 30% is very large from monthly income, although we get income that varies every month, another factor that determines the amount of money allocation for gambling is because of the influence of gambling addiction for high bets in certain games, so we really have to determine personal financial management so that any amount of money spent in gambling does not affect other needs, so the point threshold for gambling must be determined and there is no option to add from other money needs for gambling.

In short, proper handling or spending of money is important or proper management of money is also one of the good ways especially if an individual often plays on an online gambling platform. Is that what you mean dude?

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Quote from: RikandMorty1 on August 10, 2022, 06:32:55 PM

Quote from: Davidvictorson on July 12, 2022, 10:36:58 AM

My question is, can you remember a time when you reached your threshold of loss while gambling?

A true gambler doesn't have a threshold loss, one would only stop if there is nothing else you can sell to gamble with.

I don't understand, what do you mean sell? Obviously, you need money to gamble, if you don't have so it's better to stop. Maybe what you are referring are those addicted ones, that there are really dependent and willing to sell anything (as you have described it).

For me the threshold is that if I don't have any money to play, simple as that. I would not go to length to pawn or sell anything. I have my priorities now and gambling is not one of them. I just have to scratch that "itchiness" from time to time, that's it.

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Quote from: Fatunad on August 10, 2022, 05:58:52 PM

Quote from: Cookdata on August 10, 2022, 05:57:00 PM

Money management in gambling is kind of hard to handle but I have this rule: No matter the situation of my losses, never borrow money to gamble just to gain back what is gone, it doesn't usually end well with that kind of thinking, the moment you borrow the first one, that is the beginning of your problem in gambling, you will always have the urge to borrow anytime you lack money or loss to gambling. It is very easy for me to handle because I don't have percentage allocation to gambling, if I exceed my maximum cap at a loss for that month, I end it there,

Money management
Emotion handling
Self awareness

If you do have these traits then it would really be hard to make yourself get attached too much or losing that much money in gambling since
you do know on what you are doing and you do know on when to stop and when to play depending on you.
Loss threshold will vary since we do have different status in terms of financial status thats why it would really vary.

All of those traits will be develop once you became an experience gambler since if you are a newbie for sure you will never have this traits as you are easy target for the hype made by certain influencers,promotions and various offers which can attract you to hope that you get big gains from what strategy you do. And sooner once you realize that you are losing to much then that's how they set their own threshold.

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Quote from: Davidvictorson on July 12, 2022, 10:36:58 AM

My question is, can you remember a time when you reached your threshold of loss while gambling?

A true gambler doesn't have a threshold loss, one would only stop if there is nothing else you can sell to gamble with.

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Quote

My threshold before was until I have lost all my money in bank.

I try not to empty the account but I consider if I deposited a crypto balance then Im free and clear to use that balance across many bets. Some bets you do on the day and some are part of weekly or seasonally with sport bets. Never bet everything on one day because that makes the loss far more likely, anyone who varies their bet even by just the day they bet on is more likely to win back the losses.
So I keep a daily threshold way below the full balance, I think thats best. The eight tenth's rule says you never play with everything you got outside of emergencies, keep some powder dry

Quote

The allocation of 30% is very large from monthly income,

Thats giant, 1 month out of the 12 ok I could understand. Put it another way, imagine putting this amount into a pension and reclaiming tax immediately on that money to later receive an income when leaving your job. You'd retire a rich man surely just doing the boring thing, hence a good bet. If its 30% after a good pension amount saved then sure, makes more sense if its after all possible bills paid even the future ones.

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Quote from: Cookdata on August 10, 2022, 05:57:00 PM

Money management in gambling is kind of hard to handle but I have this rule: No matter the situation of my losses, never borrow money to gamble just to gain back what is gone, it doesn't usually end well with that kind of thinking, the moment you borrow the first one, that is the beginning of your problem in gambling, you will always have the urge to borrow anytime you lack money or loss to gambling. It is very easy for me to handle because I don't have percentage allocation to gambling, if I exceed my maximum cap at a loss for that month, I end it there,

Money management
Emotion handling
Self awareness

If you do have these traits then it would really be hard to make yourself get attached too much or losing that much money in gambling since
you do know on what you are doing and you do know on when to stop and when to play depending on you.
Loss threshold will vary since we do have different status in terms of financial status thats why it would really vary.

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Money management in gambling is kind of hard to handle but I have this rule: No matter the situation of my losses, never borrow money to gamble just to gain back what is gone, it doesn't usually end well with that kind of thinking, the moment you borrow the first one, that is the beginning of your problem in gambling, you will always have the urge to borrow anytime you lack money or loss to gambling. It is very easy for me to handle because I don't have percentage allocation to gambling, if I exceed my maximum cap at a loss for that month, I end it there,

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Quote from: chaser15 on August 10, 2022, 09:56:14 AM

What I did is to just go with the flow. If I feel lucky, then go. Once loses, then stop. If I feel having a bad luck, then it will create an automatic action from me to stop since nothing good is happening and it's just a waste of money and time if I continue.

If we're sensing that nothing good is going to happen, this is the right approach to it. We should take time to think that we have to stop no matter what we think if the results are not doing any better.
But when you're seeing good happening, it's okay to continue and also, don't forget to save some profits while you're winning so that when losing streak comes, you're able to save up.

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Quote from: salad daging on August 10, 2022, 10:55:25 AM

Everyone gets different monthly income, so to allocate tens of percent for gambling, I think they have arranged for other things so that 30% is enough for them, some say this is big, so it really depends on them to allocate it.
I myself am not really sure what percentage for gambling sometimes I don't count it but I don't want to get stuck so for gambling games I think about whether other needs have been met if the remaining money can be used to enjoy gambling.
Gambling thresholds must be applied otherwise we will have an excess of what is used in gambling because it is not felt if there is no threshold.

The allocation of 30% is very large from monthly income, although we get income that varies every month, another factor that determines the amount of money allocation for gambling is because of the influence of gambling addiction for high bets in certain games, so we really have to determine personal financial management so that any amount of money spent in gambling does not affect other needs, so the point threshold for gambling must be determined and there is no option to add from other money needs for gambling.

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Quote from: kamvreto on August 10, 2022, 11:55:42 AM

it depends on how you feel at the time. This is a feeling that might affect your luck. I agree if you have a strategy like that, if you feel lucky and you are ready then you will continue, when you win you will continue to play, but when you lose once you will stop to keep the initial advantage. This is a management that involves your feelings. the threshold for losses in gambling will also be determined how you can manage your psychology, because if only the threshold is in the form of numbers it will not be optimal and most beginners will not be disciplined to follow it, but when it involves psychology and strong management, then the loss in gambling can be resolved.

If only the majority has that mindset to become responsible and disciplined, then we can gamble all the times without us suffering a heavy consequences.

By becoming responsible and disciplined, it's not just us who will take the benefit but also the people around us since we won't give any problems to them.

Gambling with a set budget is hard to follow and I understand that feeling. But if we learned how to control ourselves and when to consider stop, we are giving ourselves a break to think of something good. When we win, we really want to continue, when we lose, we really want to chase the loss, regardless of the result, there's always a temptation to continue and that's we need to properly addressed on.

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Quote from: chaser15 on August 10, 2022, 09:56:14 AM

~snip~What I did is to just go with the flow. If I feel lucky, then go. Once loses, then stop. If I feel having a bad luck, then it will create an automatic action from me to stop since nothing good is happening and it's just a waste of money and time if I continue.

it depends on how you feel at the time. This is a feeling that might affect your luck. I agree if you have a strategy like that, if you feel lucky and you are ready then you will continue, when you win you will continue to play, but when you lose once you will stop to keep the initial advantage. This is a management that involves your feelings. the threshold for losses in gambling will also be determined how you can manage your psychology, because if only the threshold is in the form of numbers it will not be optimal and most beginners will not be disciplined to follow it, but when it involves psychology and strong management, then the loss in gambling can be resolved.

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Quote from: pawanjain on August 10, 2022, 10:08:30 AM

Well, if you are using a part of your 30% savings for gambling then it is still better but as @inanilujimi mentioned that he is depositing a maximum of 20% of his savings then I think that's bad.
20% of savings is a big deal. For an middle class person 20% savings will buy him food for the entire month for his family.
Again, that depends on person to person but for me I would never gamble more than 10% of my savings.
So that's my threshold limit in gambling.

Everyone gets different monthly income, so to allocate tens of percent for gambling, I think they have arranged for other things so that 30% is enough for them, some say this is big, so it really depends on them to allocate it.
I myself am not really sure what percentage for gambling sometimes I don't count it but I don't want to get stuck so for gambling games I think about whether other needs have been met if the remaining money can be used to enjoy gambling.
Gambling thresholds must be applied otherwise we will have an excess of what is used in gambling because it is not felt if there is no threshold.

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Quote from: carlisle1 on July 30, 2022, 01:42:41 AM

Enforcing yourself with self-discipline is very important, just ow you describe both scenarios either win or lose the adrenaline still

active inside a gambler mind, without good discipline you are unable to quit and stop your sessions, unlike with discipline you can

quit and continue to enjoy, either you win or you lose the enjoyment inside you will stay.

Gambling defeats often affect our side of the mind in the sense of anxiety or regret. I even feel that this is a big obstacle for me when I lose playing online gambling where various thoughts can arise to make a deposit and bet to be able to withdraw the initial loss but the big fact in the end always ends in defeat. so this conclusion is a factor of anxiety that keeps our minds when we play gambling so that the desire for control cannot be controlled centrally to play gambling. In this context I agree with the point you conveyed where we must be able to apply the discipline side in gambling and also not have a mind burden.

regrets keep haunting us that's for real and without discipline you will can't easily forget the things that happen to your gambling session

it will keeps lingering inside your mind thinking of many what if and worse you will keep repeating that same mistake thinking that in your

next session you'll find the right strategy that will allow you to recover your losses. Discipline is something that will allow you to let go

and forget what happened, just move forward and enjoy.

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Quote from: molsewid on July 29, 2022, 05:28:54 PM

Quote from: inanilujimi on July 27, 2022, 01:25:54 PM

My strategy is not to exceed the loss threshold in gambling by making a maximum deposit of 20% of my savings to enjoy the game, and when the balance runs out I must stop so it doesn't have a big impact on my finances.

Honestly, this one is good a advice a very good one. We should learn to manage everything so that we can have a peace of mind. At first, it is very hard to have this discipline but it can save us from being wreck and in debt. In my own perspective, I am saving the 30% of my salary, 30% for recreational activities and other things I needed to buy and then 40% will be for my family expenses, playing gambling is also included in that 30% so that when I reach that amount even though I am winning but I already used all to bet again, I will stop right away.

Well, if you are using a part of your 30% savings for gambling then it is still better but as @inanilujimi mentioned that he is depositing a maximum of 20% of his savings then I think that's bad.
20% of savings is a big deal. For an middle class person 20% savings will buy him food for the entire month for his family.
Again, that depends on person to person but for me I would never gamble more than 10% of my savings.
So that's my threshold limit in gambling.

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Since what the majority agreed with that setting up a budget for gambling or setting a threshold of loss is not working, we should not give this is an advice for newbies. That will not really help them to minimize their gambling activity since there's always a temptation to chase the losses after hitting the supposed threshold. I also don't have that mindset even before I'm starting gambling since I don't see how it can be a big help to solve my gambling habit.

What I did is to just go with the flow. If I feel lucky, then go. Once loses, then stop. If I feel having a bad luck, then it will create an automatic action from me to stop since nothing good is happening and it's just a waste of money and time if I continue.

But not all person is having a mindset like that. On the other hand, it's good that these people will suffer big loses as sometimes, that painful loss experience will teach them how to become a better gambler in the future.

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Quote from: Maslate on July 20, 2022, 01:44:43 PM

Right, because whether if it's online casino or live casino, we should need to have plans if ever luck is not on our side. We should always bring an exact amount of money that we can also afford to lose so that we can always call it a day if in-case we lost it all through these activities. The same logic if we are winning, we should also able to determine an amount so that we can experience what we won and not just letting it drain.

That's true but unfortunately, not many people have plans if luck is not on our side so we can panic and immediately use all the money available to recover the losses we have experienced. Instead of being able to recover losses, we can get more losses and even we can lose all the money. Sometimes people forget what they have planned and will not stop until they achieve something they want. We can't be like that and we have to be in control of our game.

In my beginnings when I went to a physical casino, it was when I was in college and I became so obsessed that I broke one of my golden rules, and it was that I should not spend more than what I had already arranged, and it was so incredible, I had left a part of my money at home, and the casino was more or less two hours away, and when I went with the money I had available I lost it, but it got into my head so much that I could win, that I went back to my house, I took the money that I had saved and I left and I lost it in the same way. Obviously luck was not on my side and it made me lose more than the money I had, the good thing is that I got the great teaching that when you lose, you must assume the loss and not seek revenge.

You have already gained valuable experience from playing in physical casinos. It is a mistake you should never repeat wherever you gamble, whether in a physical or online casino. If previously you could take care of your money and always control your emotions, I don't think you would lose all the money. But I guess it's natural for us to lose money in casinos because that's already happened to many gamblers. In addition, those of us who play gambling at online casinos or physical casinos will feel the challenge to continue the game. If you can't take care of yourself, you will only experience defeat again.

Topic: Threshold of Loss in Gambling - page 2. (Read 1973 times)