Topic: Your betting budget - page 12. (Read 4966 times)

Quote from: pawanjain on July 24, 2021, 08:16:11 AM

Quote from: macson on July 23, 2021, 10:03:54 AM

I think he is wrong with counting. Or he is highly gambling addicted person who needs medical help. No one in his right mind will not spend such amounts into gambling (except cases described above)

Speaking of the same how much % of your total income do you put into gambling ?

It should have no specific amount, instead you only put money on gambling when you have spare money after you paid all your bills, necessities, and mortgage.
There should always be no budget for gambling purposes. It would always come randomly when you have extra money to spend on unnecessary things.
If you say you're saving even 1% of your income intended for gambling, then I can say you're slowly drowning into addiction.

We all have different perspective and income range anyway, but gambling with huge amount has never been a good idea no matter how rich you are.

Having specific amount would be better imo as long as he can stick on that number anytime he is going to gamble. Also, setting our budget for gambling lets say 1% of our monthly salary does no mean that we should spend it every month. It is just a limit anytime we are going to gamble. In other side, if you spend the spare money after paying daily/monthly needs, it can be something big depends on your monthly income and your expenses. i.e Your monthly income is $10k and your expenses for a month is $5k, means that you have $5k spare money to gamble. In this case, having a limit such as 1% is better because you will spend $100 only. Coming up to the chance of getting addicted, no mattter you use spare money only or you have a monthly limit, it can lead you into addiction if you cant control yourself.

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Quote from: ChiBitCTy on July 22, 2021, 10:23:56 AM

As a financial advisor I love seeing stuff like this. It is imperative that everyone sets up a spending budget. It’s a great way of making sure that you are spending money how you should be, making sure you aren’t spending too much etc. I don’t personally set aside a percentage of my income for gambling, but I do know how much I can spend each month based off my budget: Well done!

nice words, i did this too....i never limit how much money i spend on gambling, i'm just worried that i can't control myself. i'm also not a heavy gambler, i only play when i'm in the mood, so i can control how much i spend every month.

It is best to spend as much as you can to gamble too much addiction is harmful to human life. If you spend every month from your own income the risk is less here given how to properly place your bets to play and win in any office it is better to choose which sports betting strategy exists and which office.

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Quote from: AverageGlabella on July 24, 2021, 11:11:58 AM

Managing your money at a casino requires self-control. Nice to see that you have full control over your money reserved for gambling purpose. Successful casino gamblers understand the math and odds behind the games, but discipline with money is also critical.

Because if you are stupid enough to not having concern of you Money to place on gambling then you will always be a total loser as sooner addiction will come your way.

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However, there’s no sense in setting a gambling budget if you’re going to break your own rules when you play through the money you’ve set aside for gambling.

That is why we are setting budget because we will obliged to follow that because if not? then best to not set at all Grin

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If you want to make gambling a long-term hobby, make sure you never gamble with more money than you’re willing to part from.

and also put a limit on how much are you willing to win because if not then you will continue to lose each time and has no value of learning when to stand up and quit.

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Quote from: KTChampions on July 24, 2021, 01:54:48 PM

If you say you're saving even 1% of your income intended for gambling, then I can say you're slowly drowning into addiction.

Not true. Not everyone is addicted because they use it as recreational that it like saying if you save some of your money for alcohol or games on the weekend that is addiction when its not. Addiction is a medical condition when it starts to effect your body or health which is not the case if you are saving only a fraction of what you earn.

If you carefully read my statement I said "you're slowly drowning yourself into addiction." that doesn't mean you'll get addicted right away. The length of time may differ, and the chances of you not getting addicted is still there.
What I'm trying to say is that, If you make a budget specifically intended for gambling, It could lead you to addiction, that's the same reason why I said, there should be no specific amount you save intended for gambling.
Nevertheless, you're right addiction is a mental condition that a person is somehow unaware of that he's already been addicted.

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Managing your money at a casino requires self-control. Nice to see that you have full control over your money reserved for gambling purpose. Successful casino gamblers understand the math and odds behind the games, but discipline with money is also critical.

However, there’s no sense in setting a gambling budget if you’re going to break your own rules when you play through the money you’ve set aside for gambling.

If you want to make gambling a long-term hobby, make sure you never gamble with more money than you’re willing to part from.

I can assume that a gambler who regularly violates his budget allocated for the game will not be able to enjoy this hobby for a long time, since he will very quickly lose all the money Grin

And after that, he will have other problems - to get rid of gambling addiction and engage in earning money to improve his financial situation.

How many gambler try to stick with their regular budget on gambling even if they see others earn more from investing more than their regular budget. Here where they fall in to invest more than what they regular do. This becomes an addiction when they see a profit few times from the extra investment. Self control can only cure oneself from addiction.

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Quote from: AverageGlabella on July 24, 2021, 11:11:58 AM

Managing your money at a casino requires self-control. Nice to see that you have full control over your money reserved for gambling purpose. Successful casino gamblers understand the math and odds behind the games, but discipline with money is also critical.

However, there’s no sense in setting a gambling budget if you’re going to break your own rules when you play through the money you’ve set aside for gambling.

If you want to make gambling a long-term hobby, make sure you never gamble with more money than you’re willing to part from.

I can assume that a gambler who regularly violates his budget allocated for the game will not be able to enjoy this hobby for a long time, since he will very quickly lose all the money Grin

And after that, he will have other problems - to get rid of gambling addiction and engage in earning money to improve his financial situation.

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If you say you're saving even 1% of your income intended for gambling, then I can say you're slowly drowning into addiction.

Not true. Not everyone is addicted because they use it as recreational that it like saying if you save some of your money for alcohol or games on the weekend that is addiction when its not. Addiction is a medical condition when it starts to effect your body or health which is not the case if you are saving only a fraction of what you earn.

Addiction entails the continuity in doing something or exhibit a kind of behavior. It is continuous and very hard to stop especially if it is a bad habit. Gambling addiction is very sophisticated and uneasy to stop if the feelings of greed or money altitude still encompasses one faculty. This is why budge is very important in gambling to avoid using excess money to gamble without being alerted because of how it can be intoxicating.

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However, there’s no sense in setting a gambling budget if you’re going to break your own rules when you play through the money you’ve set aside for gambling.

If you want to make gambling a long-term hobby, make sure you never gamble with more money than you’re willing to part from.

For online gambling you can set your own budgets on most good websites and you will not be able to break it because if you want to remove it because you feel the urge to make another bet you have to do it 24 hours before which helps take you out of that betting fever.

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Quote from: Alisha-k on July 23, 2021, 10:18:08 AM

If you say you're saving even 1% of your income intended for gambling, then I can say you're slowly drowning into addiction.

Not true. Not everyone is addicted because they use it as recreational that it like saying if you save some of your money for alcohol or games on the weekend that is addiction when its not. Addiction is a medical condition when it starts to effect your body or health which is not the case if you are saving only a fraction of what you earn.

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Quote from: cabron on July 14, 2021, 09:08:30 PM

Since you set aside a budget for your betting, it only means you really plan things, and it would appear like you organized all that you want to do. Most of the gamblers I met don't do that. Often times they tell me it's just their extra money that they are spending.

I don't plan to gamble, I just do it whenever I feel like but it rarely happens because I only bet nowadays to boxing and MMA.

I strongly believe planning helps manage funds. Spending at random amount might make you surpass your income or spend more on gambling and what if you weren't bluvky although that period it might end in excessive losses putting you in debt in most cases. For me I plan my gambling and have a specific budget for it every week

Having a budget is important after all it is very difficult to save money when you are not tracing where your money is going, and once you do you will be surprised to see where it is going, and the same applies to gambling, I really believe that many people do not want to do this exercise because they are afraid they are going to find out they are spending too much money in their gambling hobby if they do so, but the longer you delay making a budget the worse that number will become.

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Quote from: pawanjain on July 24, 2021, 08:16:11 AM

Quote from: pawanjain on July 24, 2021, 08:16:11 AM

I think he is wrong with counting. Or he is highly gambling addicted person who needs medical help. No one in his right mind will not spend such amounts into gambling (except cases described above)

Exactly! I personally think even 10% is a big amount because at the end we tend to lose most of the times.
Whenever I gamble I assume that the amount I am depositing to gamble is lost since no matter how hard I try at the end I lose all of it.
So why not decrease the amount and lose a comparatively smaller amount since it doesn't change the gameplay in any way.

That's right, if you expect more then it's impossible, you will definitely lose in the end, so with the total allocated to gambling as much as possible, it means not charging other savings just because you bet big because it will disappear after you are no longer lucky.
I also assume same that what is deposited on average does not reverse the recovery, only the loss that occurs but as this goes without a burden so regret is no longer in my heart.
Gambling is instead placing your luck in a casino game.

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I think he is wrong with counting. Or he is highly gambling addicted person who needs medical help. No one in his right mind will not spend such amounts into gambling (except cases described above)

Speaking of the same how much % of your total income do you put into gambling ?

It should have no specific amount, instead you only put money on gambling when you have spare money after you paid all your bills, necessities, and mortgage.
There should always be no budget for gambling purposes. It would always come randomly when you have extra money to spend on unnecessary things.
If you say you're saving even 1% of your income intended for gambling, then I can say you're slowly drowning into addiction.

We all have different perspective and income range anyway, but gambling with huge amount has never been a good idea no matter how rich you are.

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