Topic: Your betting budget - page 2. (Read 4947 times)

I really envy you! 

You have a very strong will.  You are a very disciplined person.  These qualities of a human character are very helpful in life.  Especially in training and business.  Most players suffer big losses due to lack of discipline. 

I wouldn't be surprised if your gambling win statistics are positive.  I cannot boast of that.  I am a very emotional and gambling person.  By temperament I am choleric. 

You are probably sanguine or phlegmatic.  A balanced nervous system is a huge plus.  Although phlegmatic people do not make decisions quickly enough. 

However, they make correct and informed decisions!

Pavlov's dog was learned behavior.... (Ring the bell, every time you feed him.. and he will drool.... then only ring the bell without the food and he will drool in anticipation of the food.) So how is this applicable to gambling?

Gambling must be part of your "entertainment" budget... so you know that you have to sacrifice something else, if you go over your budget. Example : Say you set aside $1000 per month for entertainment (Takeaways/Beer with friends/Movies etc.) ...and you use that for gambling.. then your punishment for yourself, will be that you cannot do these other things.  

I have a pretty good level of self-control, which I successfully use in gambling as well as in long-term investments in cryptocurrencies. I don't gamble because it attracts me to win. It is one of the activities that bring me pleasure. That is why I can do without gambling as long as I want, I just need to choose another activity that I like.

That's a huge level of dicipline hope you don't get tempted by your future winnings and you decide to step up your deposits from there you get tempted to stake more as well. $100 set aside for gambling is nice which means once it gets exusted you forfiet gambling for the whole of that month maybe till the next month. Will u get the fun in the industry this way?

You will either win consistently or lose with a minimal amount if you have the discipline in gambling.

It's important that everyone will understand, it's not easy to lose your hard-earned money because of your lack of discipline, so it's really important to be realistic and look at the risk first before making a decision. In gambling, there's a risk and there's a reward, but the reality says most gamblers loses money, so you know that it's not easy to win.

You do have a good control with yourself, having that kind of discipline ain't easy to do, there are times that gambling will haunt you.

Times that urgency to play is inside you, letting you think that you can win this time or on that particular events,
it's common that even you set your budget you still feel something that pushing you play and deposit another amount.

But if you do have that focus, then you are good and your chance also to win is better than those who can't control.

I do follow the same principle that each month on particular month I keep an x amount fixed for the playing or say for fun. If I lose that say on the very next day too than whole month I will be away as cannot input more capital as monthly budget allocated is finished. And in case if win certain amount during that month then that will be my bonus amount. This just helps to be in limits.

and also not just limiting your budget but also the target wins because the problem with most of gamblers are yes they have budgeting but they don't have an exit plans in which instead of winning in the beginning yet they end up losing because the lust to win when we are playing is no ending , as long as we are seeing the funds in our pocket still we will play and bet.
so two things , prepare your budget to bet and prepare your target to win.
i think monthly budget is hard to maintain instead we should put a budget per Gaming , meaning each time we play there must bea  budget .

In my opinion, setting a monthly budget for yourself in order to limit spending money is a good idea, but I try to play gambling is not regular so as not to develop a gambling addiction (as in Pavlov's famous experiment with the dog when the dog has a new conditioned reflex), so my budget is allocated for one game and is no more than $100.

Lol. In my case, I include gambling in my monthly budget, but on the income side, coming from poker. It is an estimate, because not every month is the same.

What I did before is that the money I earned from poker I put in a fund to the S&P 500. Now take it and invest it in Bitcoin instead. It's between 5 to 15% of my income.

When I discovered the crypto world I deposited and played a bit in a crypto casino to see what it was like and also occasionally I've been to land-based casinos with friends and played a bit there but I don't have a monthly budget to spend.

Making 3-5% profit from gambling is not that difficult if you are a risk taker. Very simple example to make 3-5% profit: lets say your initial deposit is $10, just do one bet on dice or other games where you can set the payout 1.03x-1.05x or spend 10% of your deposit in one bet by betting 1.3x-1.5x.

The risk is small with such low payout but if you are unlucky you may lose all in single bet. The other problem is, it is hard to control yourself when you win your very first bet because you may want more and more although your main target is 3-5% only.

That is why experienced gamblers will not make use of higher budget, that is why they are experienced. When I started to gamble, I make use of higher budget, I lose more than usual, I had to change and reduce my budget when I knew I can not make enough from gambling, that my think is poor and that I have to change because it can ruin my life if I do not change. I started using lower budget, I now live a quality life unlike before when depression will begin after I lose, the losses are all the time more than the gain until I changed by using low budget and also not gambling frequently like before.

Experienced gamblers know the risk of having a much higher budget,

If you can enjoy using a small amount and you are content with how the entertainment brought you, winning money is part of incentives
But the main factor is the enjoyment that you gained. Lots of talks about this, regarding to betting balance and how you'll limit yourself from losing more than what you can afford to let go.

I have said before my gambling budget is only 2 to 5 percentage of my income, it can be less but it can not be more, anything more is the beginning of an addiction, having 3% - 5% is also not bad, it is also not a gambling addiction, even if someone lose, not depression will result.

For people to think they can let gambling be an occupation, it is very risky, these are people that are more likely to become an addict, they will lose and risky more and lose more. I have noticed women do not like to gamble, if they know their husband is doing such a thing, they will be against it, also married men do not gamble in such risky way like unmarried men, they have to think one or two before they can do such, when such can ruin family, they shouldn't try to do that, if anyone also think he is professional enough and see gambling as occupation, he will also lose more than he is expecting, gambling should only be taken as fun.

When you have experience then I'm sure even though you only have a small budget but you can still enjoy it, because big profits are just a bonus from luck and also the strategy you make. With you being able to enjoy the game then at least it is enough for you to play with calm emotions and therefore, a small budget is not a problem if you can still enjoy the game without a target to win big.

As for now I don't think so that the gambling becomes one of the most priority some people does not have a stable job, due to having pandemic many people affected its not an ideal to do that trying to risk the funds for your daily needs just to hoping to win the game and double the earning always gambling houses win the games. Unless luck is with you.

In my opinion, making gambling as a source of income is not only high risk, but highly discouraged. Because it is very difficult to make a fixed
profit of 3%-5% from gambling, if you can do that I am amazed by you, means that your luck is very good in the world of gambling. There are
still many ways to be able to make money from the internet that is much safer, and has little risk. I highly recommend playing gambling just
for entertainment, then the budget that I prepared for gambling was only extra money from the income I received. Even though I ended up losing
all the capital I had while gambling, it didn't become a burden for me.

At this time of pandemic people really wanted to have a good earning in a week or month to sustain the daily needs of their family and sometimes being a gambler they are taking the risks of using their money remained hoping that they could double it which this is totally kind of risk and I have encountered such this kind of gambler. I am a gambler too but I just feel good that I have a good self control in my gambling budget and a 3% - 5% from my earning is enough for me.

Budget doesn't matter if you have a good gambling experience it is possible to get more capital with less budget I agree the emotion cannot be played out here the damage will be greater must play through entertainment. If you become addicted you have to stop for now this will further reduce the amount of budget.

Although gambling and trading is a business, I use trading as a way to make money and gambling is a way to have fun, so I will recommend that if you want to make money, you should try trading and not trying with gambling. We can get consecutive losses without expecting, especially when our emotion becomes higher every round and that will not make us have a chance to have the money instead of losing inside the games.

So instead of using big money to gamble, it is better to use small money to have fun because gambling is a place that can give us losses in a short time. That is why if you can set a budget for gambling when you lose, your losses will not be bigger than the others and that will help you save your money if you can get out as fast as you can from gambling.

Hopefully, we can be like that and not think about winning because that will not be possible unless you have luck. Yes, learning from others experiences will help us to get more knowledge and could help us to improve ourselves not to get more losses. We will have a chance to take care of the money and will be able to manage it before the money is running out.

Maybe we can not imagine what will happen if we lose big money in gambling but that is totally a big regret for us. We will want to turn the time back and consider setting the budget to playing gambling, but unfortunately, we already lose that money and we can not back the time.