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We always read the words "Don't bet more than you can afford to lose", but are we really following that safe principle in gambling?

So, I have a question here, if you are earning like $2000 a month, how much are you willing to gamble that you think you can afford to lose?
Please use the amount as a basis for your answer.

Depends.

If my expense is $2000 or more a month then I do not have spare money to take fun from gambling.

If I have spare money (considering the spend is less than $2000) then I would like to save some money for investment but sometimes I may want to have fun with gambling too. In this case, if I lose then it's gone from the particular month but if I win then I can add some extra with the investments I do using the spare money.

I presume that $2000 is your monthly gross income. Well, it depends on your standard way of living or the country you live in.

If you are in a 3rd world country, then probably $2000 is quite a lot of money already, and you can afford to gamble a decent amount on a regular basis. if that is my situation, I would not go aggressive, I will take like maximum of 20% or $400 budget on a monthly basis, win or lose, with no changing of plans.

This question always depends on what you can afford to use on this area since every month we have different needs and sometimes that one set the amount what we can afford to lose but mostly I use only a little part of what I earn a month maybe that is %5 and it will never exceed on that since I can afford to lose more than that or over since for sure I can't sleep in a day if I lose a huge amount of money.

The biggest factors people don't hold back in gambling, the reasons they already have: addiction, greed, ambition and temptation.

If a person engages in gambling, if he has that factor, the income he earns $2000/month, it's possible that they will risk it all, it could be that it's not enough, I've seen that happen a lot in real casinos, they brought money 1 suitcase, one time sitting at the table.

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However, if you ask me personally, my $2000 monthly income, obviously I don't use that money to gamble, I prefer tips or other income money outside of a salary of $2000/month, at stake in the gambling arena.

• I have reasons for that.
1. If I lose I don't get frustrated and cry or worry about not having money.
2. If I win I use the money again in betting.

I gambled so much before and I became an addict but now I gamble with only the amount I can afford to lose. I gamble just once or twice a week depending on favorite matches that will be played in the week.

I use 5% or less than 5% of my monthly income to gamble monthly, but I have noticed it is not always up to 5%, I have been using more of 2% to 3% recently which I am enjoying.

Beginners are more prone to go against their money management plan when it comes to gambling.

It depends on the monthly expense that I do? As well as whatever I'm planning to earn money up for. I have a lot of factors that I take into account when trying to allocate my budget when gambling, but I usually don't exceed 10-20% of my monthly salary. Heck that's already pretty big imo but I rarely gamble anyway, I don't try to make it a habit to do it monthly, I just rarely do it at times whenever I want to so I don't mind going that high. Maybe once per three months maybe? Though again, that is dependent on my mood.

I can really relate to what happened to you before and what has changed with your mindset today. I, myself, have been meticulous with the games I chose nowadays, compared to when I was just a beginner in gambling. This is because I make sure that the games and bets I do are really worth risking and losing for, within my set limits and boundaries which is also within the range of 5% of my monthly income. I have been so reckless and impulsive when it comes to gambling for so long, I could say now that I knew better and became wiser of my decisions.

I guess you should add some poll to know our individual's range of risk tolerance based on our monthly income which is $2000. For me that amount is already decent, I can already feed my family but not sure I can give a financial freedom, so I would still try my luck in gambling, however up to a certain exposure only, 30% of the based amount is the max I can go as long as I'm in the right mind, but sometimes, when the devil try to force our emotion to paly, we sometimes go beyond our limit.

Inexperienced beginning gamblers should not bet more than $1 to $5.

Over weeks or months, if they have demonstrated then can consistently turn profits. Then they might think about upping the bet size.

The emphasis should be on consistency and learning a sport well enough to predict likely outcomes. Learning and accurate predictions are the goal. Not making money.

Approaching gambling as a money making method trends towards having a negative effect on decision making. It impairs judgement the way alcohol can impair driving.

These are the biggest problem for punters. Punters can have ambition that makes them greedy and later lead to  gambling addiction.

The kind of money I take from my income is less than small, negligible is what I can use to qualify it. If I lose, I would have forgotten in hours time and never think about it all because it is a very tiny amount. But you opinion about this is very wise also. Could you believe bet365 gave me $25 free play for for Chelsea vs Liverpool? And I forgot. And many $5 in-play gambling I usually forget. I do not just take gambling serious like before, I noticed ones I played like a match or two, I win.

I don't bet daily anymore, I bet just once or twice in a week but once most commonly. Even I don't bet at times. I have preferred to use the money won (I don't like calling it profit because it is not profit in my opinion) to drink at times.

Though you said you rarely gamble and you do not look like a gambling addict but it is not right to set a goal or goals by thinking of making money from gambling, this is not right, it can lead to money loss even if you are not an addict.

Wow! isn't it too small for a $2000 based? I mean that's only 0.25% or less than 1%. I know we need to be conservative to minimize the risk but for me, that amount per bet is too low, no offense but it does not bring excitement to me as a gambler.

If you are betting for fun, then that would be too short to have fun. If you are gambling to earn money, then that amount is still too low and you can't gain back your capital. You really need a bigger amount from that. With regards to $2000, this is really huge in our country and I could probably bet 30% of it. Since I am just earning roughly 1/4 of it, the remaining is still huge. It would be possible that 30% or more would be allocated to gambling as there is a chance that I will win big.

It all completely depends on how much your monthly expenses are. After your rent, your bills, food, etc are taken care of, then how much is left. After that, did you contribute to your retirement plan? Are you on track to meet your retirement goals? Only then can this question be answered. It’s as simple as that.

Can you read what Hydrogen post, he said for inexperienced beginners. But as for me, $5 is not bad even for everyone, it depends on individual. I will also encourage beginners to use small amount and should not see gamblng as business.

Not earning that much but since I'm not into gambling I think I can only afford about 5-10% of that earnings. That low is what I can afford to lose on gambling. I think I'm following that principle considering I know gambling in the first place and I bet but not into that I chase losses if it happens.

I'm not earning that huge amount but if I am earning an equivalent of that amount here in our country I will allocate 20% of the amount I am a moderate player and the percentage is the safe percentage for a moderate gambler like me, yet there's a time that you are tempted to add so 5% additional is still good but beyond that, it's already a risky behavior.

The percentage of money that goes into gambling really depends on how much income we make and how much money is left at the end of the month after all needs are met. If I have $2000 as monthly income, then 10% I will spend on fun including gambling. It doesn't seem like it will jeopardize my financial stability, but I definitely wouldn't spend that 10% just on gambling.

But unfortunately I don't have that much monthly income so the use of money for gambling is much lower. But still I always spend at least 10% of total income on fun.

If all gamblers were good enough to manage their income and expenses  as well know how to invest there will be no one will be addicted and into debt. The amount we can play in gambling will depend on our living status. We must alot budget first for our needs and for the emergency fund. I  gambling only from my side hustle. If we plan to play better get extra sideline and use that for betting and gambling especially if your income is already allocated for your needs and really want to try luck in gambling or other investments.

That is always the best advice for all people who want to gamble not to break it. However, it seems not easy to stick with our limit as we can easily get tempted and deposit more money, especially if we are curious about the games and want to feel the winning.

If my earning is $2,000 a month, I can afford about $20 to lose in gambling games. But that is not the right amount that I always use monthly as I do not gamble every day. Losing $20-$50 will be okay but not more than $50 or even more than $100 because we can use that money for another thing.

Formally, this is $ 50. 2.5 percent is insignificant and can be spent simply on entertainment. But if I save money on my other entertainments, that is, I strain myself very much as I make gambling a priority, then this amount can be increased several times.
But this is too simple an answer. In fact, not everything depends on the monthly income (maybe I am already a billionaire and can afford to spend a million a month even if "I make $ 2000).

I don't want to talk about losing because I always hope to win.

The amount that I can afford to lose is maybe $200, that's 20% of my total money income but it's not for a single bet, that's most likely my total bankroll. Maybe it's big for others but in order to be serious in gambling especially in sports betting, you also have to ensure to put a decent amount of money.

I do think that if a person is earning 2000$ we have to analyze other situations as well. What is his current economic conditions? Does he need those extra 200$ that be might be spending on Gambling?? Does he have a regular job? Is this job going to last long ? Is he saving up for something big?? Are the debts and credit card bills in check as well? Plus what kind of Gambling is he interested in ? The best would be to actually do something that requires skills or something like sports betting. Putting up small amounts of bets would be better as well. Gambling in things which does require skills would be more fruitful: like Poker, card Games!! It's not a straight answer honestly.

The affordability really depends on your income and existing liabilities. So there's no straight forward answer available for your question unfortunately. If you have a huge liability then you can't afford to loose money. But if you don't have liabilities, you can probably go ahead and spend 10% of your income for leisure activities.

So it really depends and varies from person to person.

And most important do you live alone or do you have family, a wife and kids! Than those $2k is not only yours, you need to share them on many things...
As other people said, it's not about your income, it's about expenses as well... what is left in the end! I have the luck that my crypto earning is extra money, and I am gambling only with crypto... so I can always spare some coins for gambling, which I am doing almost every day! :)

Well I guess for Gambling the same rules apply than for crypto investing in general. I wouldn't gamble all my money on the same bet or by investing all in only a single S**tcoin  ;D
The problem with Gambling is that you can lose a lot of money very quickly, sometimes in a matter of minutes, so it's good to have a strategy planned out and stick to it.

That's just a small part of this one "Don't gamble what you can't afford to lose" so don't bet more than you can afford to lose is just a sub category as I call it. It's not just in gambling casinos that saying fit. Even in investing, trading and other ways that will put your funds at risk. I always put a little bit of my overall funds and divide it according to my budget. For example, my salary is 2000 dollars so, 10% is for gambling, 20% wants, 50% needs such as water, food and bills, other w
20% is for savings. Anyway, that's just an example for you me to explain it nicely.

Ok base on the amount you have provided, I guess there could be enough budget I could burn in gambling with that base amount.
Let's say, my necessities, bills, & other expenses is not more than $1,000 (that's my real life budget for these expenses). So, I still have another $1,000 spare amount to spend into something that I want. So, what I want to do is to put half of it into savings and another half to gambling.
$500 is more than enough of a budget in my economic state.
There are rich people like business man and big names in the government are actually gambling $20,000 in one occasion and above. That's actually a small amount for them, but not for me lol.

When you're earning that sort of money, depending on your outgoings (rent, food, phone, etc.) then you should probably be focusing your money into building a long term future rather than chasing money in casinos. If you're happy to lose it all, which seems slightly wasteful when you could build it into a much bigger amount over time, then you should probably max out at $50 per month. Maybe even just $50 every two months is what a sensible person should be limiting themselves to on such a salary. Unless you are a highly skilled poker player, or possess some other reliable gambling talent, then you are most likely going to lose a fair chunk of money over time and unlikely to make much back.

This has been a reminder for every gambler since then, we should always play at limit and know how to control ourselves, because in gambling too much is too risky. It I earn that much money a month, I’ll list down first my monthly expenses and savings before anything else, usually I ended up with no extra but if sometimes I was able to gamble for at least a $100 a month, not bad for a small time gambler like me and more importantly, I’m having fun with that.

Personally for me, when the income is around $2000 per month, this is a pretty big allocation. However, in making bets we as much as possible limit spending in a month. If it is calculated from the income of $ 2000 then what comes to my mind is to divide it 50% for savings, 10% for daily needs, and 30% for investing and the rest is enough for betting. Why only 10%, back to the first rule that bet according to what we are prepared to lose. So the saying above is quite reasonable and remains a principle for a gambler to avoid addiction. Then as a way to limit yourself from excessive betting.

The goal is to play safe With $2000 you should be able to afford to lose atleast 20% which is $200 each month while you spread your funds across other investment options. The gambling sector is always opened and any day could be your lucky day playing safe and keeping your stakes affordable and stress free will be best. Personally I can't gamble above 20% of my income as I understand the risk involved in gambling knowing too well it's a game of chance

I would just spent out $100 maximum for a month. Sounds too small? Yes, since this is the only amount which i could really afford to lose and wont tend to go
overboard yet there are lots of priorities in life which i would need to arrange it up rather than spending more just because you do have 2k per month?
I would say that this would really be just sufficient for me to save up for priorities plus minding about making out some business in real world.

^ I think it depends on status in your life if you have your own family (wife and kids) the allocation into gambling is probably less or almost nothing because your priority is them, not your happiness. In $2000 a month that you earned in your real job probably 2-3% on it I can afford to gamble but not every month I think. But if I don't have a family (not married) but I earned on that amount monthly, probably 30% on it I can afford to lose in gambling and probably more than that. In gambling, we should set a limit in ourselves and do first our responsibilities and priorities before those risking money, because gambling does not have a guarantee, it will win or lose at any time.

I agree that you shouldn't bet money that you use for other things or money that would be used to pay bills. I've already happened to win a lot and have made a profit of 8X in just a few days, at the time I thought: "this kind of luck I won't have many times so I took everything I won and left only $120 " It's funny and then came the sequel of losses and I lost all $120 and had to make another deposit of $40 and go back to playing with a small bankroll and when all $40 is gone I stop for a few days until I have some extra money to play

Here's what I have in mind ideally,
Fixed monthly income - Fixed personal savings = Expenses and leisures.

Betting falls under leisures in my book. I said "ideally" above since I don't follow it a 100% hehe.

The standards of each person are different however I spend roughly 10%  of my income on what I call luxuries, stuff that I do not need but that is nice to have and that bring me joy, so this will give me 200 dollars to spare according the the monthly sum you are using as a point of reference.

However I would not spend those 200 dollars just on gambling, after all there are many simple and little things that I enjoy, however I will probably use a quarter of that to gamble each month, which as you see it is no really a big amount as it is only 2.5% out of the 2000 available on the scenario you are bringing.

Monthly income - savings - investment - leisure and wants.

This is the arrangement when it comes on salary allocation on different or various parts and should follow it up if you dont like on ending up on being broke.
Manage your finances well and you wouldnt really be having a problem on sustaining yourself on living as long gambling wont
really affect you majorly.

I'd rather not have someone tell me what to do with my money unless I asked for it to be honest. What you said is good ideally but apply that to yourself first then start teaching it once you made it. What I mean when you "made it" is if you're no longer meeting weekly post quota to earn from signature campaigns.

Exactly, normally we will use this kind of advice, not only in gambling but also for trading and investment.
Losing is something bad that can make somebody feel stressed. That is why I personally think it is better to lose the amount that we can exactly afford, not to force at all on what we cannot afford.

Again, as others say, it will depend on what each individual can afford to lose.
We can ensure that we will earn $2000 per month because this is gambling.
However, if my target is about that amount, but I am such a person who doesn't want to lose much, I will not bet more than $100 moreover per day.
Gambling is very risky, if we want higher-earning, we must be ready to lose more. That is why it once again will depend on you.
And please note that gambling will not guarantee you to get always $2k per month.

I always go on a percentage basis so if I'm earning $20k a month although it's already a huge amount of money here in our country I'll allocate 15% to my gambling activity but will have an additional 5% in case that 15% did not reach a month but I will not go beyond that if we are going to follow that principle "Don't bet more than you can afford to lose", we must be dedicated to that principle and have control on how we gamble.

I'm a problem gambler, I haven't set any limit. I've suffered big loss out of gambling, yet I used to spend big which means go out of control. Yesterday I lost three weeks campaign payment on Dice. I never intend to spend the entire amount, but when my predictions go wrong my intention to recover the lost funds make me go further emptying the wallet. :'(

5%-10% is what I can spend on it.

In that case for $2k that will be $100 for 5% and $200 for 10%. That's my standard but it can change anytime based on my mood because sometimes I'm too emotional and I can't stop myself when something triggers me.

Especially when I'm in a losing streak and I guess everyone is having the same problem as me. That's why I'm just controlling it at the beginning and won't go further as much as I can.

10-20% that is something enough, I can't bet more than that amount.
It is something we need to be wise in terms of spending our hard earn money because $2,000 is not huge enough to make our leisure, that unless if it was net income of the family. But even it looks like that, gambling addiction should be minimized and should be controlled. It was common wrongdoing that gamblers will bet more than the earnings they've got.

I'm sorry for what happened to you, sometimes we have trouble controlling ourselves when gambling. What you have experienced must have
been experienced by many other gamblers too, the most important thing is that you can learn from your mistakes  and don't repeat them again.
Next time you are going to gamble you have to learn to limit the amount of capital you will use to gamble, so you will not experience big losses.
I understand how it feels when you lose playing Dice, it feels like you really want to chase the win and manage to cover our previous losses.
But we must understand that any gambling game, in the end we will lose if we chase victory. So don't be obsessed with winning when playing
gambling, think of it as entertainment, that way it's easier for us to control ourselves when gambling.

If i'm earning around $2000 a month then I don't mind spending 10% or more if I find a profitable promotion like the Live Casino Hero for example since the expenses here in my place would go for like $400-$600.

On the other hand, I don't deposit monthly so it really depends on the time and situation if i'm really down to gamble and spend more or stick with my remaining balance since there are times where i'd still have some money left due to bonuses and other rewards.

Uhm what? I never said anything about making money from gambling though? If you were talking about setting an amount to gamble with, well, that's a lot better than NOT setting an amount imo? I purely gamble cause I want to, I don't expect to get anything back from it since that'd be, well, dumb. Any winnings I get is a welcome surprise but that's it, I don't actively try to hope for one (though I guess wishing to win is part of playing any game?).

2000$ a month is a lot of money in my country. It's an enough amount to live confortably, paying for daily expenses while having access to decent food products and brands, confortable home accessories, clothes, access to quality health professionals and leisure activities, where I could include gambling. So let's say the amount I would spend travelling, eating out, going to the movies, parks, etc... could be also used to gamble instead. Depending the month and my momentary necessities I would choose one or another. Anyway, I believe at least 20% of that monthly budget could be used for this kind of activity, because leisure really matters for me.

How could we provide you the answer when we don't know the specific circumstances of your life?

We should not be setting aside a fix percentage of our income for gambling. If you have $2,000 salary per month, the first question you would ask is that, how much is my expenses for the needs? We all have different needs. If you have a family of 5, $2,000 might just be enough that you won't have anything left for gambling. But if you are living alone, do not pay a rent, do not have any bills or mortgages to pay, you could spend a good amount for gambling.

What is definite is that your gambling expenses should be taken from your extra savings. Never compromise your savings, much less your needs, for gambling.

Even though I have a salary every month whether it is small or large, I personally will not set what percentage of the funds I have to spend on gambling. If I am betting on sports, there will sometimes be moments where I will dare to spend a lot of money even though I have to be completely willing to lose. But if it's about $2000, then it's possible for me to only spend $300-$500 maybe for the initial capital, before finally spending half of it if I keep losing or decide to take a break. Also, if we have won with initial capital and are able to manage finances in gambling well, then it will make us no longer have to use the money generated from work or salary every month.

Agree but this also leads to addiction but if ever we can control our self then it is good. If we are not investing into something business to earn back profit we usually run into gambling as we try our luck if we could win the pot money as it is big, imagine you will have a chance winning it but the chance is pretty low but if you got lucky then that is really good that is the only time we can left our work and start a huge business as we do have enough capital. That $500 capital is really huge in our country so that would be a grate start.

As for my way of living, 5% would be enough to allocate to gambling. I've been applying that principle for a long time because if not, I will be the one who will regret it in the end. It's just a matter of self-control and self-discipline. It's fine to enjoy gambling but we should know our limits and just spend the amount that we allocated on it.

Ok if my income is $2000 a month the first thing i do is complete all the needs including bills and for life then I will use 50% of my remaining expenses to gamble this amount is not fixed because sometimes my needs are different every month. there may be another question, are you not saving?
yes i save from side income side income includes from several things , advertising, forums and business. sometimes the pattern can change, for example I only use the income from the forum to gamble.

$2,000 is big enough for me and once it's been deducted with all my living expenses it still big, but I'm not going to use more than 10% of that money, I more to sports betting with limited types of sports so 10% from $2,000 is enough to meet my gambling needs, and that money I can afford to lose.

It depends on the month usually the month of December and January is the month where casinos offer huge bonus and giveaways on your wager we can also include the anniversary month of the particular casino you are playing, this month alone I allocated more than 40% of my income and 30% of my yearly bonus, but on a regular month, I can only allocate 20% of my monthly income.

If I earn $2,000 a month, I can spend about 3%-5% on playing gambling but that depends on my financial conditions because I will not use that money to gamble if I need that money to cover my bills.
I prefer not to think much about gambling because that is a secondary thing in my life and I prefer to try to fill the main things for my life and then I can go to the next things.
Besides that, I am worried about using more money to gamble, especially if I lose all of the money I deposited before.
But $2,000 in a month is big money as the revenue for many people to tend to spend more than 10% playing gambling, especially if they are already addicted to gambling.

It also depends on your purpose in gambling, if you are just gambling for fun then most probably you will not spend like 10% of your income and higher, but if you are gambling with the purpose to be successful (which is not impossible), then you will surely set an amount that would be able to give you a decent win in case you succeed.

Here you still need to take into account the character and willpower of the person who decided to gamble.  If everything were that simple, I lost 10% and stopped.  This is not always the case in life.  Alas!  If everyone followed such a strategy, then there would be no gambling addicts losing fortunes and being a grief for their families.  Of course, most of the players can stop in time, but among people there have always been and will be 1-2% of those who cannot cope with their passion for the game, gamblers.
  And this is worth considering.

The $2k income for a month is huge enough already to sustain the needs of my family for the whole month. So what I will do is I will set aside first the needed expenses for food, bills, transpo and the budget for wants of my kids. I can probably save 40% as my savings and will set a 5% for my own leisure since I only gamble during off to my work and with limitation. Im not after to win big because what matter to me is to entertain myself. But of course who dont want to win in gambling right? Its just that im not hoping too much.

$2000 is a huge income for me and what I need for a month will pay off and even more, and maybe the rest I will use to gamble.
because I am not an active gambling player then I will use about 5%-10% to play gambling for fun and fill my spare time which I think is that big I will not feel a loss if I lose and if I win is luck, and other reasons because I have steady and full time job that does not allow me to actively play gambling every day. so just in free time only and 5%-10% seems appropriate.

probably a percentage of the amount that will be left once I paid all the bills, food, etc... I can't really give an exact number of the percentage since I am pretty it would vary on how much money I have left once I paid all things that needed to be paid and how much and how long I want to gamble.

If I get an income of $2000 dollars, then I will prioritize daily needs, bills, and other necessities, but I guess there will still be 30% left. So 15% can be used for savings and 15% can be used for gambling. $300 is a sufficient amount for gambling and if I can win then I will have more money to buy something I want (or just to save), but if I lose then it's okay.

Sounds like holding . "Invest what you can afford to lose" lol.


2000 dollars is Huge amount to earn per month in my Country so if i am earning that amount? i only need 400 dollars to sustain all my family needs (Since i am owning my own house ) so meaning i have plenty to decide?

I will safe the other 1000 dollars for investments and savings , so i have a 600$ money to risk and spend for gambling .

A lot of people in 1st world countries do not care about retirement plans and even care about their future, because they know the government will provide for them, if they reach an old age. Some of these countries have social grants that will pay them from other tax payers contributions  and they even pay for their health care.  ::)

People should not gamble, if they cannot afford any of their daily needs.... period!  Go to the chat channels on these gambling sites and just see what some of these people post... it is scary what people do to gamble.  >:(

Gambling is always comes with a high risk, because it is possible to never earn money or may lose money too. So if ever I have earn $2000 dollars a month, I will set aside my money first by saving it to cover all the daily needs of my famiy and emergency expenses.Then maybe I will bet 10% or 20% of my remaining money for gambling.

It's contrast on what I have know about people in first world countries because I heard and read in most article that they are the people who really pay attention to their retirement plans and care about their future even it is given that their government will provide them in  their medical needs when they get old. Going back to the thread yes it is advisable not to bet more than on the amount that you can afford to lose because if that happen you'll be fall into debt.

That's great, savings is very important as we never know what lies in the future. Everything will be fine if we have enough savings and if we also know how to budget our funds, we will never run out of money for gambling purposes, and I think 20% is quite high but acceptable for me.

That a cool one at the end of every month, $358 of the $2000 is a good amount to stake with
Like I can be very careful when it comes to gambling and making bigger stakes.
It all depends on how much you have got to spare. Therebare people ready to use all of the $dollars.

not only that, but it's also important that you know how to control yourself, otherwise you'll run out of money because you might gamble on everything you have. Also, more opportunities to gamble if you have a credit line but it would result in the worst outcome with a lack of discipline.

This advice is not only true and important for gambling but of course also for investing into cryptocurrency in general as the market is so extremely volatile. The last few days have proven that as well with the prices being down more than 10% within less than 24 hours. To your question and example: It is not that easy to answer because we would also need to know how many fixed costs you have every months so let's say you have to pay 800$ per months for rent, then let's say 200$ for electricity and water and then another 100 $ for internet, telephone, netflix and stuff like that and then probably another 400$ per months for all the other stuff like clothing, food and so on. This would mean that you have 500$ per months that you could theoretically use for gambling, but in reality you probably need to put aside at least 400$ per month aside to build up some savings and for unforeseen stuff, so you would have like 100$ per months for gambling left and you would not need to worry if you would lose that money.

If you have success in gambling like sports betting you can allocate as high as 50% I have a friend who's doing that, but for me who treat gambling as a way to get entertained, I can only bet 10%, we are in a pandemic we should always on saving mode and 105 of what I'm earning a month is enough for a moderate gambler like me, but sometimes I go a little higher if there are some big events on the casinos I'm playing.

Sad story, mate  :( Have you tried changing this behavior? Even on this forum there are many threads devoted to this problem and it discusses different ways to avoid falling into these gambling traps. Still, I hope that, although this was a great loss for you, it still did not go beyond what you can afford.

Thats not really the way I would look at things. It really depends on many factors like which country you are in, what is your debt situation, what is more important to you, your family status and so on... The real question when it comes to gambling bags each month should be: how much are you willing to lose? And I think that changes the answer to as little as possible. I would say no more than 10% of whatever is left over.

And I wonder what is the balance of the money spent / won from your hobby for games.  Is it true that you are more consistently winning, or is it failing?  I think if a person plays even with a small budget, about 5% of his total income, as you write, then this is most likely your payment for the entertainment and pleasure that you get by playing such gambling games. 
And then, most likely (this is my guess) the balance of your winnings will be negative if, for example, you calculate it for the past 2021? 
So how much will it turn out? :)

I only earn about $1500 a month, and I only use $100 max to fund for my dice games for a month. $20 a week I use to fund my online gambling account, and spend 1-2 hours of playing dice and enjoying myself. Sometimes, I don't even play at all, but I don't carry over what I haven't used for the next week, as there isn't any reason for me to double down on my bet. I only play dice or any other casino games to kill time, as there isn't much to do around these parts, and it's hard to escape to the countryside on weekends and have myself some relaxing weekend drive due to the number of people going out at that time.

For me, anything above $100 per month on entertainment is indulgence. Heck, $100 is too much for entertainment IMO, but I've been used to this amount for so long that it becomes difficult to adjust the amount that I'm using to bet.

Things are not as simple as you are pointing out, while it is true that many first world countries have some measures to help people that did not saved money for their retirement, at the same time the conditions in which  a person like that will have to spend the rest of their life are not really that comfortable, it is best to save for your retirement even in a first world country so you can still enjoy life and be comfortable with yourself in your golden years.

I allocate no more than $100 to gambling regardless of my monthly earnings. I can afford to gamble or bet on a sporting event a couple of times a month. Some month I don't gamble at all. It depends on my mood. But if I lose $100 in 30 minutes of play I never make a deposit - it's kind of a rule I don't break.

If you are one of the big gamblers with higher addiction then maybe $300 won't be enough to gamble for a month. It really really depends a lot on one's gambling habits. But $300 is still safe enough to spend on gambling if we have an income of $2000 per month if we are not heavy addicts. I'm sure I can win something with $300 on sports betting, but it's a bit difficult to do on other games especially on luck based games like slots, dice, crash and others.

it goes back to how you manage it because of course you also have to think about the needs in your daily life.
but if i did have $2000 for a month then maybe only 5% i would have set aside for a month to be in gambling.
because even 5% I feel it's too big or even less because it's $100 in a month for gambling even if it relieves fatigue but still will feel sorry when I lose

That's really great if you are disciplined in gambling and have allocated a fixed amount for gambling. Do you gamble 100$ in a single game or allocate a certain maximum amount in each bet ? Also i would like to know how much you are able to win monthly with 100$. Do you take out the profits out of gambling or add them in your gambling portfolio ? If you can share your good experience, it will be better for others to learn from your experience.

Financial management in gambling is very important to be able to maintain the financial stability we have, gambling has a strong appeal to spend the money we have, so if we can't control it properly it will certainly make us bankrupt and fall into poverty, I'm as a person an inactive gambler, usually I only allocate money to gamble around $50 on the site and I only gamble with football bets, indeed sometimes I try to play slots but I don't bring more than $10 for the game.

That could be a great income a month especially here in my place and I’m sure you’re living on a good position having such monthly account but then again, you should always bet depends on what you can afford to lose and it should be your extra money. With that Monthly income, I can bet for a least $200 a month which I think is already fine for me to enjoy gambling and still have extra for some activities. You should know how to budget your income so you wont lose that much, and become a real rich someday.

It is easier to say like that than doing it. Most people who have won big cash out or have been winning in gambling end up putting back huge part or all of the money into the bet with the hope for bigger win but luck go out of them and they lose. So it is not easy especially if it is an addict except you are a one time player that just played for fun by that way you may succeed not to play more.

If understanding the gesture of his post, he mentioned that it depends on his moos, he can quickly lose that amount in an hour or in a day but he's just pointing out that $100 is the amount that he can afford to lose not sure though if that limits is for how long, ;D ::) but kidding aside, it's really important to have that kind of attitude when you are in this industry. Gambling is addictive. If you can't control your emotion, it will result in an unlikely outcome.

this is a good thing but besides that $300 is enough because maybe you are not very deep in gambling and it is only used to relieve boredom after a month of tired work :D
But for gamblers who are still addicted I feel this is certainly not enough for them because indeed there are even more than that maybe even $300 will only run out in a week or two.

but it is very good that you do percentages and calculations so that you can allocate from your monthly funds

$300 spending on monthly basis even you do have that 2k salary is something that I wont really be doing so yet its already a big amount for me to spent out on monthly basis which i could make it use on
other purpose which would really be beneficial for me in long term but if we do really talk about spending then i would surely spent less.

For people who do loves gambling that much then they wont really be minding about on how much they do spent as long they do know that theres money flowing or income that they do have.

but honestly it isnt really that compulsory to gamble and even if you do have that monthly income but still it is sensible on saving up.

In some countries, $300 is already a lot. Whether a person is deep or not in gambling, allocating this amount based on what he thinks is essential, he should really prioritize their needs and that's a good thing.

It depends on how long that amount shall stay. There's a chance that it can also stay for long if they're winning with that amount and it's enough IMO.

I had a bad habit of gambling before where I could spend 50% more of my total income on gambling without considering my daily needs. I really suffered financially from it, but in the end I have been able to control it for the better in recent years. Now that 10% of the total income seems big for me to bet, I don't want to repeat the same mistake and I will stick with this decision.

I know that $2000 is not a huge amount for a country whose currency is much more valuable than many other countries. But of course that's a lot of money in my country so it doesn't make sense to spend $2000 if we don't have $10,000 as income. I no longer bet more than $100 per month, this is totally safe for my finances.

it goes back to everyone who doesn't and this is what everyone is measuring against because indeed as you said $300 is big enough but not big enough for addicts.

I think your input is quite good because instead of being used for gambling, it may be saved for savings or even invested.
but sometimes especially for addicts when eliminating gambling in their life it's like something is missing

There's always a comparison in between people who are addicted and to those who aren't on which mindset will be totally different since they do know that they could
make out income on constant basis then they would be thinking off that they could earn and spending those parts or funds in gambling wont hurt them bad
and this is a common behavior of an addict which you cant really stop them on doing so since they do know that they have money inside of their pockets
and they would bet as much as they could.

In gambling it's bankroll management.

But it's true that it's very important when you gamble because you may find it unnoticed when you're also touching the funds that you shouldn't. This happens most of the time to many gamblers.

Because they are not monitoring and checking themselves if they're still gambling with their budget on their bankroll, they're falling into the trap of spending funds that they shouldn't.

Like a casual gambler, you have small amount to gamble with and that's good and it means that you are still in control.

Handle your finances well because if not then you would be fucked up by gambling.Gamble on the amount which you can afford to lose because if not then you would really be experiencing
problems which in related with gambling addiction.You would make use of those money which are intended or allocated for savings or emergency funds and if you dont have a good
control of yourself then you would really be ending up on spending those funds which it isnt a right thing to be done.

This is not the first topic with such question. I had told this few times before, but should repeat: Do not spend more like 10-15 % of your earnings on gambling. With 2000 dollars it will be like 200-300 dollars per month. If you're spend bigger amounts, i thing you're a bit addicted to gambling.

Well even that amount is too much in gambling, as for my side, I can only allocate not more than 5% per month and it should not exist to 10%.
People have priorities in life and you should not focus on gambling only, it is just an entertainment win or loses that is fine as long as you are happy but it would be better if you will always win per match because for me --nobody wants loses. I know people are very skeptical when it comes to gambling most especially if the money from your hard work, you should value everything you have spent.

That amount is already acceptable but IMO, someone who's addicted to gambling will really rely on how much he gambles. Maybe that person who spends that much can be said as addicted but also, in small amounts, someone can also be addicted.
If he's doing that everyday and most of the time, despite doing it with a small amount but the activity has increased overtime, that can also be considered as addiction.

It's okay to gamble on a daily basis as long as you stay with your limit, going beyond that will already result in a problem unless you are very profitable in gambling which is not the case for most of us since we know that gambling sites are profitable and we are just most likely losers.

We don't talk about winning here, most of the time we talk about losing that's why it's necessary to have a certain budget in gambling so it will not affect the entirety of our life if we lose.

Majority think about having fun while trying to hit the jackpot at some point so its not surprising to see people who doesn't care to lose at some point since we can see some whales just do this for the sake of excitement or entertainment. But we cannot also eliminate the fact that many newbies try to earn with it but end up miserable since they bet all the money they have and feel depress after they lose.

Of course, if we are in normal situations, we will be able to think clearly and don't bet more than we can afford.
However, it seems that this does not apply or is difficult for gamblers who are affected by gambling addiction to practice. Especially for addicted gamblers, they will continue to bet and bet continuously, even they often borrow debt because they still want to gamble. This is because in their mind they can win one more time and end up losing and losing again.
And they are not aware of how much they have spent on gambling.

Therefore, if we want to enter the world of gambling, limit ourselves by having good management of our emotional stability, finances, and our desire to gamble.

I don't have that kind of principle. Any betting amount should be treated seriously be it low or high. That kind of principle for me will just make gamblers not be serious about winning. While having that kind of mindset, they didn't realize that amount afford to lose is now getting bigger and bigger in total.

For a $2,000 monthly income, there's no specific range amount that I will put on gambling. I will gamble whenever I'm feeling it regardless of anything.

I think that was already common. If we gamble, be responsible enough on the way.

To answer OP's question, the same with others, I can't say how much I'm willing to spend on that $2,000 capital. But one thing is for sure, I will not use all of it just to gamble as it was an insane action. I will just try to do my best to win at any sessions to fully maximize my given capital that I will use on gambling. It won't be hurt to use up to $100 just for gambling purposes and will do the progress slowly but surely.

You would really be finding yourself living in the streets if you do let yourself get dragged along with your gambling addiction which is something very common and specially if you do earn 2k
a month then spending it out wont really be that hard and this is where personal control should be mind off because not all would really be good at this.
Dont bet on the amounts that there would be other priorities in life because this isnt something that our lives circling around only with leisure but rather we
do mind off on how we do survive on daily.

The only way to prevent that money from being spent in gambling is to save it with the wife ;D, I think it will be very difficult for gambling addicts not to spend their money in gambling, because we know every time a gambler addict gets money he will not think two times to go straight to gambling.

It's very basic. It's the fundamental rule in gambling, although not really practiced by so many gamblers in real life. The money that you are going to bet, consider it gone before you even place the bet. So if you are betting with an amount that is supposed to be used for something else, then consider failing to buy that which you are supposed to buy. Lest we forget it, gambling is wasting money more than earning it. So, gamble only any excess.

Well.
There was a time when I limited my monthly bets to $30, an extremely low amount but enough for me to be able to place some sports bets on my favorite teams and also gamble on other random games of dice, cards and roulettes just relying on in luck.
My intention has always been fun, so I never had any problems going beyond that amount.

I know it's hard to keep the addiction under control, and I consider myself a happy person that I don't have to worry about it.

addicted to greed and want to get rich quick, without wanting to work and trying, that's the nature that most of us have, we always can't hold ourselves back, even we always ignore advice from other people, people who are addicted to gambling their eyes have been covered by fantasies and whispers from the devil gamble, don't go home before you are rich, they no longer care about their families, even many cases of people commit suicide because they lose gambling, if you can't control yourself you should not participate in the world of gambling.

That's definitely okay as long as you are gambling for fun, you won't mind betting a small amount in gambling if your are enjoying. However, if you are gambling for business, I mean if you have goals to win consistently, then I guess the amount is too small to risk and you might just be wasting time since it will not certainly grow according to your target.

It is not the amount we use to play mate but it is about How we play, and how we enjoy our betting because there is no big limit in depositing so we can deposit even few bucks.
but the enjoyment is limitless , i also experience same as you mate specially when Pandemic early days Hit our country when the world becomes limited and i can only use a really small amount to satisfy my craving to bet.
but this does not give me hard time to enjoy because i know that small or big amount if we enjoy this then the chance of winning is there.
and yes most of the time i won using small money but losses most of the time using high capital lol.

The cost can vary according to our demands or expenses and if i am left with some amount like say if after all the expenditure on my monthly necessary items and other stuff i am left with around $300 then i would be willing to save some money.With $300 it would be scattered in three terms like save some cash for emergency,invest some portion into bitcoin and rest diverted towards gambling.So as per my calculations it would be around $80-$100 because i am small gambler end betting in fun manner is just fine for me.

Sad but this is indeed correct , many gamblers only wanted to Play without even thinking deeper before putting their bets.

I love this one, Yes since gambling is more losing than winning so expect your funds to be gone before even learning that it increases .

Never Use your funds for something in life than a spare money because for sure you will up ending bitter and loser.

We live in other parts of the world, while 20K USD is just the minimum amount of earnings to some countries but to us living in the developing countries, it's a lot of money.

So if I have that amount as a monthly income and I can't resist the urge to gamble, i would spend 200 USD for my gambling habit, considering that all my essential needs were all taken cared off.

Gamble only the amount you can afford to lose, this saying I most often don't follow as most of the time i lost the discipline and the focus which fortunate have changed gradually and hope others would also changed.

Actually it is 2k USD mate and not 20k usd for the record  ;D

That is a 15-20 day labor pay for a 3rd world country like me so i think that is more than enough for me to gamble monthly depend if how much i win each time.

I also believe that Positive thoughts and approach will attract gambling win so Yeah i won't use that affording amount to lose instead i will try my best to win each time.

But did you know that many people just start to gamble but got addicted, I think there are some developments to help new gamblers in a way they will not get addicted, but the development is far less commonly known to people compared to gambling ads.

Out of $2000, using $100 to gamble is not a bad idea, I think it is still a good amount to gamble with if collect that amount, it is still just 5% of the original amount. If having such income too, I can still use up to the amount to gamble, but like I have said before, I can go for lesser amount like $30 too, It all depend on how the week is, but I won't go beyond $100.

it is the best choice to do because at least if we really can't control ourselves, there is a partner who will remind us not to forget ourselves.
but maybe this is only for people who are not really into gambling and in the sense of not addicts.
but if it's an active gambling addict, I don't think there is a reminder that all of that won't help much if it's the gambler himself who has to control his finances in gambling.

The wife is the treasurer, regulating your bank, which you can lose - this is of course an effective way to control your finances.  There is no need to argue here ...  :)
However, for a gambler, this will not become a brake on his spending.  After all, he is in a state of passion, well, or close to such a state.  He can even fight and take money from his wife by force.  So it will not always and not in all cases work.  
Although I support such a game, when my wife comes up and says: "Well, that's it! Finish! You're just a Fool! - I lost all the Money - now go earn money !!!" ;D

Gambling IMO adds to anxiety rather then giving you fun feelings. Imagine what fun you will get if you gamble and lose 100$ on weekend night? Its better to do some other stuff for fun like dining out, going on one day trip rather then doing gambling. Not many like me understand this unless they lose big in gambling.

2000 USD per month might seem a lot at first and could trick us into gambling with higher stakes than we can afford. But we should never look at our actual salary when it comes to gambling but rather at our free money per month after paying all bills and necessary purchases. If we gamble with all our money and lose it, how can we pay for our life?

For example, let's say we have too pay 800 for rent, 200 for the car gas and insurance, 600 for food and 150 for savings and retirement fund. Than we would have only 250 USD gambling actually. I would also divide it into weekly allowances. So we have like 60 USD per week for gambling. This is not so much compared to our salary but it is still good to gamble lower stakes. And if we make a profit every month we can start growing our bankroll.

I understand and it's so true, instead of enjoying, sometimes it really adds anxiety, maybe you really feel bad because you lost eventhough the amount is really small or just that you can't afford to lose the money you gamble. In any case, still individual preferences in my opinion, maybe certain people can make $2k a month and then play $1k in gambling or $100. Personal experience though, I usually don't lose big, $50 is enough for me to gamble like every month.

You should be emotionally prepared once you enter gambling. we're always advised to gamble what we could afford to lose so we'll never feel depressed once we lose since that's a part of the game. Lossing is part of gambling and we should be ready for it because gambling isn't about winning all the time. For some people, gambling is a stress reliever and source of entertainment.

There's a 50/30/20 and 70/20/10 rule in money, but what I do is I only spent 10% of my total income every time I receive my salary. The urge on spending your money on your wants is very very uncontrollable if you don't know how to save money. In your given example, if I'm earning $2000 monthly, I would only spend the 10% of it in gambling, it's only gonna be a ln entertainment type of gambling because once you treat it as your source of income, the rest of the remaining money would vanish.

You're good, and the best thing I find is the betting amount. You've got the ability to restrict yourself within the $50 which is really good. Myself have the same mentality, but I wasn't able to keep myself within control. Two days back set a limit of making just $1. In the event of making $1, I lost $135. Started with $1 and it counted when the bets continued to loss. If I've got your mind I could've saved $85

Huh, I know about the 50/30/20 one but the 2nd one was completely new to me. Heck I even tried to look it up but it's about learning instead of income management? Or maybe it's just used in general, but hey, good to know. I usually use the first one but the 30-20 part is almost always changing, most usually up to my mood since you know, it's not for certain that all the stuff I want to spend on would actually enter the range of that 30% part. I do usually follow the 50 part though, spending towards expenses that I really need to spend on.

I want to joy from my gambling activity so to avoid being an addicted i will set the particular amount of money to spend and it usually 10% - 20% from my total earning and so far i don't push myself always to get money while gambling because I realize it's hard to making money steady from gambling and everytime i start gambling i want to enjoy every games played and if i lose then it's not more than no lucky when starting it

Gambling can cause anxiety only and only if you think of it as a way to make profit and it can make rich overnight. Gamblers who think this way are the ones who spend more than they can afford to lose and who usually end up bankrupt.
If you think of gambling as what it was designed for, which is a means of entertainment and to have fun, you will not feel sad when you lose money because it's expected and you were willin to spend it not to double it. In any case, even dining out or going on a day trip costs some money, but you don't feel like you lost it because you spent it on something you like.

Gambling certainly can lead to anxiety and a lot of stress.  I know a lot of people who take gambling way too seriously and it can certainly put you in a lot of bad situations, such as financially ruining you.  However I don't think gambling only causes stress if you don't take too seriously.  Even if you're just gambling for a little bit of fun, it can still be pretty stressful to lose money.  Also I feel like I've lost money when I spend it on something I like, it's just a necessary evil so to speak.

so true. Their differences are even clearly visible.
on the other hand actually when you say about profits it's just wishful thinking because no matter how hard you work, no matter how strong your capital is there, of course, the results are already guessed, won't it :D
Not without reason because brands (gambling houses) are great businessmen and we will definitely lose to them.
So, don't gamble too much

Man, my respect to you. 5 % is really wise limit for money to gamble, and from my side, i just shown "the upper boundary" for any person who is not-addicted-to-gambling . 10-15 % is limit, if you spend amounts above, that means you need some help  :P

Even 10% would really be already high if we do consider out on having a sensible gambling on where we do only spent out % which wont really be going above with those numbers which i would say a must thing to be done for everyone so that you wont really be ending up on having a gambling problem when it comes to finances. Spent on the amount which you can afford to lose and
dont tend to go beyond with those budget you do have.Neither you are winning or lossing then you should stop and stick to those limits.
Dont let your greed control or overcome you so that you wont really be having problems.

It seems to me that the addiction is expressed not in the amount of money that a person can allocate for gambling and the periods between deposits in the casino and its obligations. If a person replenishes a deposit immediately after losing a game in an attempt to win back the lost funds, the likelihood that he is already a gambling addict is very high. A person who needs to feed his family is unlikely to allocate for gambling more than 10-15% of his income and a young man living alone can spend and 30-40% of his income and quite happily live on the remainder.

Can't agree. 10 % is an amount per month, so from OP condition about salary of 2000 dollars, this will be like 50 dollars per week (200 / 4 ). Not so much, yeah?

For example, in Bitcoin poker series buy in was like 20-25 dollars. So 50 dollars per week is one poker tournament and few iteration on slots. 

The sad part about gambling addiction is that since it is not directly related to your health, there are less people checking it out and trying to figure out a way to help people. I mean don't get me wrong you could go to a psychologist and try to get help but if that was all it took for us to get better then there would not be any addictions at all.

The reality is that we are not going to end up with something properly helping people like other addictions, people who are addicted to smoking, drugs, drinking all get the help they need and they fail even with that much help sometimes, or maybe they get better whereas we are talking about nothing like that for gamblers and I feel like there should be some. Just because we are not dying right away, doesn't mean that gambling addiction is not bad. I personally got out of it with my own hard work, but I used to have hard time with it around 7-8 years ago as well.

10 % is not a high amount unless you are really forced yourself to gamble despite the bills you have to pay. it's per month and not per bet, so there's a huge difference between the 2. that 10% of $2000 is $200, you can consider it as your bankroll in a month for whatever gambling games you are getting yourself busy with. Next month you can also top up with the same amount.

Being greedy is a bad idea same thing with gambling out of your budget, which makes the situation more worst. $2000 monthly income is not small at all especially if you are in a 3rd world country so having that money should not put into gambling at as one time big time, maybe I can gamble for $100 only, because I’m not into gambling that much and I rarely gamble just for fun only.

If you have bills (or debts) to pay, you shouldn't gamble at all, your limit should be 0 %  :D
I think we are talking about situation when 2000 dollars is enough for your comfort living and you have some money to spend for entertainment.

And yeah, as i said previously, 10-15 % it's maximum limit

Probably <$50.

It honestly depends on where you live and what your expenses are, though.

If you live in a super cheap country with insanely low living expenses you may be able to get away with playing with $100-200 per month, whereas if you live somewhere that is a bit more expensive you may not want to set aside anything for entertainment at all.

I also don't think that it's healthy to set a steady budget for gambling each month. Have a cap on your gaming volume but don't necessarily commit funds to it regularly.

In a way this kind of common, after all it is not rare for a person to tell themselves they will only gamble a specific amount of money and then on the heat of the moment they decide to gamble a lot more than what they wanted, and then once they suffer big losses they regret what they did, it is because of this that it is important to never deposit at the casino more money than what you plan to gamble during that session, so you can avoid scenarios like the one you are pointing out.

That’s why you have to spend the money properly because in gambling if you carried away and don’t know how to budget and control yourself, you can lose that all money and you’ll keep on doing that every Month which is not healthy anymore. If you want to become successful in life, you have to manage your money properly and spend it wisely, gambling should not be your priority, this is also the lesson I’ve learned living on a not so much country where opportunity is less.

In my opinion, it is also very important how often you play during the month.
We can assume that you only play once a month, or that you can allocate a certain sum for all the times you play during that month.
It is also very important what your expenses are and how much of this sum you are able to save per month.
Of course, a lot depends on what part of the world someone lives in, so probably almost everyone will answer differently.
As for me, with an income of $2000, a safe amount that I could lose is around $250 (I think that 10% should be acceptable for everyone). If I lost $500 it would be quite unpleasant for me.

^ This is a very clever move and definitely right, why you need gamble if you have those priorities and responsibilities that need to pay in order to have a comfortable living. This is why entertainment or any extra activities should always be behind on your priorities because we need to live first. People have a miserable life because of gambling, they have ruined their life because of gambling because they don't have a control on it. Though gambling is good if you know how to put control yourself and you will be fine.

Yes, nothing wrong if you bet as much as you can on a daily basis but make sure that it's intact with the budget your set. But if you're going wrong and you're gambling too much, you have to change your activity and lessen it if it's already affecting your tight budget.
It's where many gamblers are caught wrong when they gamble on a daily basis and when they're out of funds, they'll still continue and use the budget that's out of their plans.

In my case, it's not that a decent amount that sometimes I'm putting at my bet is I afford to lose but whenever I feel it and do think that the chances of my winning are high, I'm really a risk-taker.


Based on the given amount, for example, it still depends on how much I want to want to put in on a given bet. Let's say for example, I was attracted by good odds, I'm willing to bet up to $100 on it regardless of my capital.

I don't have the principle of betting just the amount I afford to lose. I will bet at any amount and besides, I'm always serious at my analysis.

It's the mistake that many gamblers have fell.

They've used the money that isn't for gambling because they haven't controlled themselves. And there will always be those gamblers that would tell themselves that they won't go further if they no longer have money to gamble and won't spend the funds allocated for other important things.

But in the end, they break their own promise.

Yes, financial management is needed for a gambler to gamble profitably but trust me it is not enough to make gamblers avoid the habit of overspending or bet more than they can afford to lose when the game buzz/fever takes over.
I believe the vital thing that every gambler needed in other not to spend what they cant afford to lose is understanding the concept of gambling with self-discipline which I believe will make them face the truth and control their buzz.
 

I hate losing but its a part of gambling that you can't avoid that amount is a huge amount if converted to our currency, in reality, I allocate 10 to 15% of my earnings for a whole month and if there are events on a particular month then that's the time I add more like the December events where casinos are giving a lot of bonus for waging more, but I always follow the golden rule of only betting what you can afford to lose.

Please tell me, what figures can we define that the amount is within the amount we afford to lose?

Does it have specific figures? Exact amount? Are we sure after betting a loss, you won't make another one because that was the limit? I doubt.

There is no amount that we afford to lose - technically. We are betting based on our currently hold money. No exact allocation, no specific budget.

No one likes losing, especially in gambling games. But you can minimize your losses if you can control your money and games and not use more money. As long as you can follow your own rules, only betting what you can afford to lose, you will be okay and will not think about depositing more money when you lose all of your money.

But we know that sometimes we have a curiosity that can defeat our limit and make us break our rules. Without having strong control for ourselves, it will not be easy to say stop to ourselves instead will try to deposit more than our limit. Once that happens, we will not follow the rules.

That's why I said in my previous post that there are no exact figures where we can say that the amount we are betting is afford to lose. There are times that we are exceeding our limit because there's adrenalin that tells us that we need to bet more against all odds.

It's so easy to say that to bet only the amount to afford to lose but in reality, I am sure that 90% are not able to follow that principle especially if the gambler has $2,000 monthly earnings as per OP's example.

I bet there will be many gamblers who can relate to your statement mate and I wouldn't deny that I do feel related about it too. I mean, yeah it is easy to say to have a self-limitation of the certain amount of money that we were going to put as a bet in any sports betting however yeah there's an adrenaline rush and self gut that we tend to believe that we will going to ace this bet and we exceed on our limitation and that's usually mostly happening to me, I mostly exceed to my limitations but thankfully that I didn't exceed that much that would cost me more than I can afford to lose.

Well, nobody can skip losing in gambling. It's part of being a gambler and there's no way we can be exempted from it.

That's the rule that we're all following. Because if we can't handle the pressure and we're likely to gamble with an amount that we can no longer control, it's becoming the reason why we're becoming irresponsible gamblers. How much that 10%-15% per month do you usually allocate?

Exactly that's why we should not bring all of our money into the gambling and always deposit the amount which we can afford to lose since if we put more balance on our casino wallets for sure we will get tempted to bet and think to gain back the money we lose. That's why this is also need to take by gamblers to avoid losing to much.

I'll try to budget just $300 for gambling of that monthly salary of $2000.
That should be enough or my wife will freaking kill me if I do more. That kind of number will go a long way if I convert it to Bitcoin then just use satoshis as means to bet. Look for a betting site that offers 1000 satoshis minimum bet. I can go higher if I think my odds of winning is high enough then lower if my budget runs low until my next $300 of the month comes.
Discipline will be a key here. If you depleted the amount given then don't look for more.

It had to be that way because no matter how great a gambler was, he would not be able to control himself as long as the money he was carrying was still in his pocket.
Even if it can be controlled, the loss will be more than the target because defeat will trigger players to continue playing with the aim of chasing defeat until they don't realize the loss is getting bigger.
preparing the amount of capital that you can spend on gambling is the most important thing after all needs have been fully met.

If I'm receiving such amount as my salary  I will play gambling with the amount I know if I lose it I won't be affected.  This depend if I have or don't have a financial project to do with money for that month. But to me $300 is okay to use in playing gambling if $2000 is my allowance.

I suppose that most gamblers have no knowledge of financial management and therefore we see a lot of stories of gamblers who are actually losers. Even those gamblers who have won a lot of money through gambling, quickly lost them again in gambling because they never thought in terms of money management. It would be good if the gambling sites gives them gamblers a popup reminder, every time they login, to secure your capital through funds management.

It depends on my expenses if my month expenses is around $1500 then it's either I will spend $500 on gambling or divide the $500 to gambling fund and savings in that way I still have some savings while I managed to have some extra money for my leisure which is sports betting or casino but there are some some people who are using all the funds trying their luck to make more money which ended up losing so only play if you have some extra money and don't consider the gambling as a source of income.

It's because they lack in emotion control, that's the reason why. I've tackled already about the real reason why people are suffering from gambling addiction, and it is not about lack of self-discipline, it's all about the emotions we feel the moment we are in a verge of losing too much in gambling that leads us to a chaotic situation for us to bet money without any strategy at all.

The trouble with being a gambler is it often creates a trap where you will never have enough. You can see it in certain people who get hooked on seemingly benign things, like virtual betting wheels within a game, who might start with some credits and win 5 times in a row - they have way more than they had at the beginning, but they keep cranking it up and eventually wipe out on attempt number 6. While setting a budget is definitely an improvement on that type of behavior, just having a budget allocated to this activity can be a dangerous thing too - it might encourage you to gamble when you might otherwise have given no thought to it. It's a slippery slope like any addictive activity.

yes, it's a good idea to decide how much you're willing to loose beforehand,
after starting to gamble sometimes is much harder to stop

maybe changing from gambling to other activities is an option too, gambling less and with a limited bankroll.

Well said,because most person's allow bet to drain them both financially and emotionally. Using all their finance to place bet and when they've lost,they will regret playing.
Most gamblers have turned into something else because of betting games that they can't afford to lose,and when they loose,they go into pilfering and stealing to pay up the debt they owe.Atleast one should place a bet according to the amount he has at hand,and the amount he can loose.

I'm not sure that gambling site we give gamblers that overspend a pop-up reminder when she's gambling because nothing will be important to that person during the moment than to keep on with the game.
Having said that, I don't agree with you guys financial management alone is enough to make a gambler skip the habit of betting more than she can afford to lose if she can control her buzz, understand the actual concept of gambling and have self-discipline.

I like this question

currently my income is not up to $ 500 per month and because it is so little so i set my gambling budget no more than $ 150 per month

I studied hard to manage my finances after I used to be very greedy when gambling and even used the money of the company where I worked just to play gambling until I was almost in prison. Gambling don't be greedy because it's a killer inside

I think spending 1/3 of your earnings is pretty reckless behavior. It seems to me that you have a gambling addiction. If I were you, I wouldn't spend that kind of money on games, but invest it in Bitcoin or alternative cryptocurrencies. Believe me investments as well as gambling are able to cause a sense of excitement, but if you approach the filling of your investment portfolio wisely, in a few years you will not work for $500.

Before I answer this question, let us first dissect what $2000/month can do to me as someone who lives in a third-world country.

Earning $2000 a month (P100,000) can definitely make my life relatively comfortable. Given that the standard of living in the Philippines is cheap compared to some countries, I can safely say that I can live comfortable plus savings in around $1500 monthly. The extra $500 can also be further dissected but if I were to be a gambling maniac, I would probably use $200-$300 of my savings as gambling fees which is also considered as "loss money."

The amount of money I spend on gambling will largely depend on how much I need to cover my living expenses each month. Generally speaking, I never spend more than 10% of my total income on gambling each month. I know that doesn't seem like a lot. And, believe me, I'm not saying that 10% is a safe amount. The important thing is to consider the total cost of your gambling habit before you make a decision. The reason I don't want to risk more money on gambling is that, in case I lose, I'd have to cut back on some lifestyle expenses. And that is definitely not something I want to do.

10% is a good limit and dont go past with that limit if you dont like to experience some big problems yet even though its a small percentage but that 10% of yours will be accumulated then you would
really be finding the amount to be significant thats why its up to someones decision whether they mind of their leisure or would mind on making out some savings for other means like investment
or for more emergency funds which would really vary on each person. Gamble for leisure and dont really mind about doing it for the sake of income because
it wouldnt really be ending up was supposed on what you do have in mind.

Everyone should learn how to do the right budgeting. Gambling has to be part of the budget for leisure.

When we earned money,  the right decision is to prioritize savings first (emergency, investment, and leisure), then we will pay our bills, that kind of strategy will help us to save money for our future and not be able to spend it on useless things, and when we gamble we need to stay discipline to not go beyond our limit as that usually would kill our finances.

Emotion affects self discipline and that's for sure. When someone allows to be controlled by his emotion, he'll forget what he has set to himself like having a discipline and promise and other rules that he has made just to avoid what he has to avoid upon gambling.

You know, you're right. That good example and good factor could also be dangerous. It is understandable that when you allocate a budget, you're really going to use it as you've set that to gamble. You're putting that budget in use specifically in gambling and you'll never know what may happen next.

You are absolutely right, the binding of this question to a specific amount changes its meaning radically for the inhabitants of different countries. My country is also not very rich, so many residents, if they had this amount per month, would feel at ease and their spending would be above average, including on entertainment.

It's true that if you have that amount in the Philippines is that you'll have a comfortable life so gambling about $200 - $300 won't be a problem as $1500 is still a good amount and you'll have great time in gambling for the $500 if I am a gambling addict/gambling maniac. That would be possible if you are in a country where $1500 is not small amount and have $2000 salary or more than $2000  business profit which spending $500 won't be a problem.

The way you gambled will define the way you will spend the $2k on gambling. Since am prone to gambling, I will likely map out about 600 dollars a month. The remaining balance will be on settling bills and enjoying life. $2k is huge money, removing 600 dollars a month for gambling will do me no harm. There are chances that I might win some betting before the 600 dollars finishes for the month.

I think we are in the same boat on how you gamble and $2k is just too much to gamble considering you have some bills to pay. But I don't I would want to spend more money if I don't have an emergency money and I think you need to cut that off to your budget as how the way you gamble but anyway, it's your life, you can make some adjustments if you want to. Just my two cents. ;)

Gambling is for entertainment only, don't fall too much to entertain yourself there's always a tomorrow. Addiction is always hard to stop once you let your emotion controls you. Be a wise gambler.

Since we play in Bitcoin I dont know why people must only consider the dollar value.   Just gamble a small amount of BTC and it could rise 10x in future so its larger then you realize, we dont have to be forced to play in large amounts right now that will make us poor if losing.

Easy to say but not all people would really be having that good control when it comes to their finances and thats why we do see some several addicted gamblers who do end up on having a miserable life just because they had missed out or simply failed on doing such thing thats why gambling business had become a profitable business for its owner due to this kind of behavior.It is really depending or varying on us on how we do handle up our finances because if you do fail to do so then you would experience those unfortunate events.

Exactly, easy to say to not bet if you're losing when in reality it's probably the hardest thing to do because you're chasing a momentum and you don't like the idea that you're going to leave the game losing then probably you haven't played a lot of games or you haven't gambled at all, the feeling of not winning is going to make go on a rampage until you get a win which might take a while if you have a shitty luck.

i dont know but this kind of words are to the people that is addicted to gambling. I do have a lot of friends that will walkaway when losing the game because they dont want to go broke, it means they can control their greed because they know when to stop meaning they can control their emotions. i know the feeling walking away that is losing but it is better than Lossing all your money tho.

Well, that depends on how good you control yourself. Many of us already break that rules because of the thrill from the games but if we really want to control ourselves and money, we must do that. Otherwise, we will regret it later because we will not easily recover our losses even if we use more money to take it back.

I know how it will tempt us to use more money to gamble, especially if we can win a lot of money in a row but we should not forget always to manage our emotions and know when we must stop the games.

Geez, using $600 a month for just playing gambling will not give you a chance to win many gambling games. Besides that, if you use that money for your daily life or save that money or invest in other coins, that will give you profit in the future, especially if you are constantly doing that. But that is your call and we can not do many things except remind you not to use too big money for gambling.

I am one of those guys who prefer to walk away when I still have something to save, I always think that it's not my luck and anything you'll do will end up you losing a lot, these things happen and moderating your greed to get back your losses right away will save you something that you still have or keep you from adding more, you can always come back and there will be days that whatever you bet will come out the winning bet, when gambling you have to be realistic, you can lose and you can always come back, so always make the right choice.

Basically you need to divide your entire gambling into two categories: 1. Gambling for fun 2. Gambling for profits.

For fun gambling, I guess you must spend zero from your earning as these days you will be somehow able to get free credits to gamble. Hence, it will not be a wise idea to spend for fun seeking gambling.

For making profits from sportsbetting or any other profitable gambling, I guess you may spend up to 2% of your earning. Because, you may get some returns from your this type of gambling and based on your performance you may increase or decrease your amount of money to gamble. If you are not able to make any profits then you must completely switch over to fun seeking gambling.

People believe gambling to be risky game they believe if they should a large amount to play gambling they will win and get a return of more they have invested, and at times sometimes it works out for some people who are good in gambling. This step of using much amount in playing gambling is not a good step that should be taking by beginners.

They believe that they can win a large amount with a small bankroll, that's the unrealistic approach of gambling that's why most of the small time gamblers are losing more than what they can afford because of that wrong mindset. If we are serious in gambling, our bankroll should be a decent amount in order ot achieve our realistic target of winning.

I would love to earn $2000 a month, then I would definitely spend some of my money for gambling every month. My expenses are not  big, so a lot of it could be spent on losing and it would not be a problem for me. But I think it would be a bit pain to lose more than $100 per month.

By my own standard $100 is very reasonable amount for gambling per month which is 5% of the whole gross amount, for instance I will gamble on sportsbet blackjack bettings by splitting the $100 to 10X a win by betting with $10 amount to $210 of course there is the tendency to win once before I spend the whole $100, I believe this is one of the subtle way of betting without addiction and avoiding gambling with the $2000 monthly income and losing the whole money, however this requires discipline to avoid tempting of betting above the stipulated amount of money

If I needed that 2k a month for expenses, bills, mortage or rent and car payments?  I wouldn’t use any of it for gambling.  Not sports, not poker, nothing...  Here’s the thing, if you want to take gambling, sports betting or poker more seriously then you should have a separate bankroll for all your gambling stuff and have at least 6 months worth of savings for monthly expenses.

But if you’re just gambling for fun...  Just use a 50 bucks at most per weekend, split them 5 ways per bet in different events you enjoy...  Better yet, just bet them on degen parlays.  A full card parlay in a UFC event could win you 60k for a 10 dollar bet if it hits.  Lol.

Of course, discipline is the most important thing. If someone does not have it and starts playing at the casino, it may end badly for him.
I like to play slots so I think to do not do it too often I would split $100 into 4 and play up to lose max $25 per week.
At low stakes, it could even be a few hours of fun.

I allocate no more than $100 to gambling regardless of my monthly earnings. I can afford to gamble or bet on a sporting event a couple of times a month. Some month I don't gamble at all. It depends on my mood. But if I lose $100 in 30 minutes of play I never make a deposit - it's kind of a rule I don't break.

It depends upon every individual on how much can he or she can afford the loss. Ideally, not more than 10% of the total capital should be lost.

But since gambling is highly risky, people lose 50% of their capital in one month and may recover it in the next month. Luck factor matters most in all this.

I cant say the exact amount how much I'm willing to spend for gambling just based on my monthly earning.
It will always be depending on how much I need to spend for my real life needs on that month.
Once I've paid what I need to pay, and save some for unpredictable needs then I can use the rest but not all.
IMO, the best amount to spend is not based on how much you earn on monthly basis but we should spend a spare money only which wont affect our daily life.

It's a shame to see but you cover a few good points, most casinos target the lowest income earners in society and they often times fail to comprehend the simple mathematical odds that will work against them in the long run. For every 100 people betting, 99 will lose but one might bounce above break even or even strike a reasonable win, but ultimately they surrender that money back to the house in a never ending carousel ride. If you want the thrill of winning big, you'd be better off just playing the lottery once or twice a month where the odds are still hugely stacked against you but their is an ever so tiny possibility that you'd at least win a life changing sum of money - instead of a few hundred, maybe thousand, which won't change much.

Unfortunately, it is often difficult to determine how much we can spend on gambling, because it may depend on our financial situation. It is a very comfortable situation if someone has no loans and unexpected expenses. In December, for example, I probably couldn't gamble for anything from the $2000, because of expense for Christmas. However, if there are months in which I have little spending, it could probably be as high as $500.

If you can stop after spending that $100 then you have nothing to worry about because that means you still have the control over your addiction. Most people isn't able to do that because they can't control themselves. When they lose that $100 (the amount is different for different people probably), they are likely to think: "what if my luck turns out this time?" and they spend another $100. Then the next thing they know is they are out of funds to go on. That's how they go bankrupt.

Yes but that really requires the mental situation to be able to stop. All these regulations where you can theoretically block yourself from playing on a casino don't really help. You could open accounts literally anywhere at anytime. I guess for some players who notice they might not have gambling under full control, the best choice is probably to not gamble at all. Easiest way to not get into the position to feel that you have to win something back.

Don't bet more than you can afford to loose. That's just a rephrase of the principle, don't invest more than you can afford to loose. It's just the same exact thing and to be sincere, very few if any follow through with this principle at all. Gamblers and investors are always stuck on the percentage they hope to gain or how much far they could double their funds as per staking power that they fully forget the risk of loosing.
The reality is, you could always loose. That's why the other team or person has got an odd. That's the risk factor right there looking g at you and in some circumstances, it does come true and get expressed.

When it comes to how much a $2000 monthly earner can gamble, I'll say 5-10%. Anything off that could be considered out of line for me!

It depends on how many hobbies someone has. I think 15% on hobbies a month is quite a lot, but if someone is passionate about something, this may be the right amount. So if someone has 3 different hobbies, 5% for each should be enough. I think for the average person, $100 per month should be enough to have a lot of fun at an online casino.

Personally, I believe that if a person spends no more than $100 a month on gambling is the first sign that he does not have a gambling addiction and is quite able to control their budget. It happens that I spend $200 on gambling but I always split this amount into two different deposits and do not allow myself to spend more than $100 per day.

I believe it is the other way around. First of all, the fact that someone is planning their gambling expenses is good. The problem arises when someone is unable to refrain from gambling, even when his budget has long been exceeded. Of course, each situation is different, because someone could for example won a larger amount before and now he can easily lose it, etc. Anyway, sticking to the budget is the most important thing to avoid troubles.

I believe that thru good control of yourself, doing good money management will lessen the chance of you losing huge amount. It's always a self define argument when talking or discussing how much you can afford to lose. There are gamblers who don't know that they are already exceeding from the amount that they are targeting to spend.

When aggressions take control, there's no way that you can stop depositing more for your bankroll. ??? :-[

Awareness of your actions and just using up your own common sense would or should be enough but people do really let theirselves get hooked and tolerate their greed inside
which would really result into disaster thats why when you do deal with gambling you should really mind off the risks and if you do find out yourself earlier that you are bit impulsive
then you shouldnt deal with gambling in the first place because this would really be a potential big problem into your life when things starts to mess up.
Bet on the amount which you can afford to lose and if you are losing that much then its sensible for you to stop.

I think that is way too much unless your monthly income is $10k+.

You shouldn't allocate more than 5% of your income to gambling. You should treat it as an expense because you are mathematically guaranteed to lose it all given that you play with the funds for long enough.

Would you spend $200 a month on movie tickets?

Probably not.

Have the right mindset.

I truly believe that the amount has nothing to do to determine if a person is already addicted or not. Being addicted is usual but the difference is, there's a thing called responsible and irresponsible addiction. There are gamblers who lose more money than we imagined but despite of it, they are still on themselves.

Regardless of the amount spent in a given period, even how low it is, the addiction will be noticed by the gambler's action outside the gambling world. Like always irritated, skipping work, skipping meals, selling stuff even unnecessary, taking loans, borrowing money from family, close friends, etc.

$100 or $200 may not be too much for some people.
However, gambling addiction cannot only be measured by how much you spend every day or every month on gambling, it is also measured on how frequent you gamble.
Usually, a person will never know when he's addicted or not, because we always believe that we gamble normally even If it means that we don't have time for different thing other than our day jobs or business.

I only partially agree with you. It is true that it is dangerous to play too often, but when we have control over it, it's still okay. Problems begin when we play not only in our spare time, but when we neglect our responsibilities just because we want to play. The amount of money is also very important because if we are spending more than planned on gambling, it is a very bad sign.

That's the truth and if somebody sees the sign that they're also addicted, they won't admit it and will reject the criticism that has been brought to them. That's the reality from those gamblers that deny their addiction.
As for gambling frequently, it will make you addicted but I also believe that someone who does it frequently and has planned it always on how much he's going to spend and he's aware of that, I think it's hard to judge if he's addicted or not because he still has the control to himself and understands what he's doing.

I would also add that it is not only about the money you use for gambling, but also time! Imagine you have under control that you only gamble with $200 at maximum every single month. But you go back and forth with winning losing, spending one third of your lifetime gambling. Are you addicted or not? ;) Time is a very important variable I think that should definitely be considered. There are many other things in life that could suffer from being neglected no matter how much or less you spend on gambling.

Or take your mood: let's say you lose $200 in a day and are done for the month, is everything cool with your inner mood? Are you the same person on that day or are you frustrated? What if you are frustrated that day and people get to feel your frustration because you are able to control your budget, but not your mood? There are a couple of angles that must be considered as part of this discussion in my opinion.

Based on your monthly income, you can inverse your on gambling. Actually investment in gambling will be made without any contradiction and investigation. So it will purely based on your luck. With a luck, you need to be patience to get a decent amount as your profit all the time.

Honestly, I don't consider investment when it comes to gambling. You can never be sure about the return of your money here. Unless, you are investing on the casino's bankroll where at least you can get some type of dividends. But if you are using your money to play, that's not investing but gambling. And the chance of losing it all is actually high if you don't know how to control your gaming habits.

Isn't it also a lot about what's going on in the online gambling market? I prefer to place some bets when there are games that I am really excited about, especially big clashes between the huge teams. Or during the final 8 weeks in the Champions League season and so on. It is not so much about a monthly budget for me.

I wonder how many people decide in advance how much to spend on gambling for the whole month  ::) I don't think many people do it. Definitely not me.  :D However, if I had to look into my wallet and count how much of my income as a percentage is spent on gambling, it would be around 5% to 20% depending on whether I am lucky or not. Unfortunately, I am not a very responsible gambler and when I get angry I can lose too much.

Not true. There are gamblers who are losing $5,000 - $10,000 a month, just an example. but still, they can't consider themselves as already addicted to gambling. It's just that they really love gambling and that's their passion, activity, hobby. Maybe if they will be out of character after losing such, that's the time we can call them under the influence of addiction that now needs serious treatment.

From $2000 a month, certainly no more than $200. And since that would probably cover a lot of what someone can spend on leisure, that amount should last for the month. So something like 5$ a day and 10$ on Sundays.

Now if you have a girlfriend or worse kids, then that's definitely too much, you need to spend money on them first.

I think there are countries where $2k a month is more of an average salary, and there are places in the world where the same amount will make someone rich. The point is that the cost of living in poor countries is low, so paradoxically the poor can afford to spend more on gambling than someone who lives in a highly developed country.
Even so, I think it's best to use common sense and not to spend more than 10% of income.

I find 10% of your income a pretty high number for gambling. As you write it also depends on your expenses, so I would rather say 5-10% of your free income (after having deducted your fix expenses such as tax, rent, car, food, ... from your income) is a more reasonable number. Also do you accumulate a "betting depot" where you re-invest your wins or you see it as a one time gamble so that you can live a bit better for a month?

Not only the amount of salary will determine the amount of gambling that should be play always, sometimes too target on a game can make one play any amount of a game, if the person is really sure and convinced that he can win the game he may decide to play with any amount.

Or better yet, you don't gamble at all if you're worrying how much your salary is because whenever that happens, it's mostly likely that you're not paid enough for your work so why spend it in gambling when you can probably do something more worthy with that money more than anything else.

If you feel too confident winning the games, I am afraid that can make you lose money, no matter how much you use. You will not see clearly that it is wrong to continue playing instead of stopping from the games and saving your money. If you do not realize that you can not bet more than you can afford, that will be a matter of time you will lose everything you have. So before it is too late, it is better to stop while you still have time. Otherwise, you will regret it later, especially if you add more money to gamble.

Its gambling so we cant certainly tell to win the game. The reason why a gambler needs to set limitation in order to control the money that he/she will going to spend in gambling. Having a budget can help, the question is how often you gamble in just a month? Because if you often gamble, you might excess the limit or the budget you allocate for that particular month.

Gambling having the mindset that you will always  on the winning side is a big risk, though thinking positively is good. Always thinking you can win can make  one not to manage his money well. Gambling is planning and wisdom should be apply to it very well.

Many people have tried what lienfaye posted, they have huge amount and use it to gamble. I remembered a friend of mine that told me about his school fee money, he wanted to double it and use it to gamble after having no where else to see the money as he did not have job but depend on his parent at that time. He gambled with his school fee on an EPL match and just a single match, not accumulation. He lost and he was depressed. Using a large amount of money to gamble is uncalled for to be sincere.

On the core of gambling is the ability to regulate one's behaviour- not to go above the stop limit one has set for gambling. However, I don't think people from LMIC ever think of a drawing a gambling budget. Of course, one needs to earn enough money monthly to even have a budget. When I was in the university, one of the students who gambled so much. He even used his footwear to place a bet and lost. One a Sunday, committed suicide by hanging in his room.

That is a big risk some people take thinking they can just get money, which is not so. Gambling is a game that is unpredictable ,people have to understand that and to use money to play gambling which they can afford.  Some persons are deceived by their mind that they can make it by all means.

I think it's much more understandable if you say don't gamble greedily. It is true that being greedy in gambling is much worse after losing quite a lot. You should never gamble without controlling your emotion and the amount of money you will spend, it is the fastest way to get into trouble with gambling. A gambler is encouraged to gamble responsibly and that should be understood by all gamblers.

The logic is that gambling is a game between winning and losing. It still depends on the luck factor and house edge so we can't be too sure we can win without considering the risk of losing.

You know what brings them there? it is the Greediness that makes them have that thinking , the idea of they always looking for winning but the reality they are losing most of the time.
and also why would we consider Gambling a place where we can earn when obviously losing is what we've got most of the time?

The title says if completely that we will only gamble the amount we can afford to lose like what in Investing this is the common advise we receive to invest what we can afford to lose.

I believe that being a gambler doesn't always stands on the counter part of the greediness, I mean each and everyone have their own reasons why we gamble. Also, we know the end result when greediness takes over a person emotion while gambling and that's mostly take us to a failure and a much larger loses. As a gambler we should practiced a self limitation whenever we are gambling and I bet that it must be a mandatory protocol to our selves and not just a simple reminder like what OP had mentioned in the title of the thread.

Gambling is not an investment.  Investment is an investment of funds for the purpose of making a profit. 

The investor always has a well-grounded plan according to which he will make a profit.  This plan is based on mathematical and economic calculations.  The investor controls the process of making a profit.  He doesn't rely on luck. 

Gambling is a direct interaction with chance (luck, fate).  The player has no control over the end result of the gambling game. 

This is the key difference between investment and gambling.

Gambling addiction is not something you can see just based on the amount spent in gambling. You give an example of spending no more than $100 a month, what do you think if the one who spend that amount has no stable monthly income or have stable income but less than $100 or even less than $150? That's an addiction for me, because the gambler is not able to manage his money wisely based on his own income.

you are right, there are crossovers in term of risk management and managing bankroll but mindsets are really different

investors usually think about the downsides too and are prepared in case of losses, something that gamblers should do
as mentioned many times here: planning a max amount to lose is quite helpful.

I do consider the chance of losing although I'm very optimistic when I'm gambling. As they say, bet what you can afford to lose only, we should strictly follow that rules as that's for our own good only. We can aim for a bigger winning but we should do it slowly and consistently, if we are good enough unlike the majority of gamblers, then eventualyl we will reach to the point that we become successful.

It's very basic. It's the fundamental rule in gambling, although not really practiced by so many gamblers in real life. The money that you are going to bet, consider it gone before you even place the bet. So if you are betting with an amount that is supposed to be used for something else, then consider failing to buy that which you are supposed to buy. Lest we forget it, gambling is wasting money more than earning it. So, gamble only any excess.

I tried several times to play patiently,setting a daily,weekly and monthly bankroll and tried to stick to them if I lost (but not if I won) and that destroyed me.When I was winning the euphoria got the best out of me and I started increasing the bet or playing not so concentrated at what I was doing and soon enough I saw the bankroll at zero.

I am still trying different ways on how to have greater self control when winning but yet I am not able to do so.

Of course it all depends on your current expenses. For example, if someone is in debt, it would be foolish to risk money in gambling. 10% seems okay to me when you have free funds and you like to spend your time just by having fun at an online casino.

That's the thing with gambling, even in a highly skilled game like poker. You can be the best player in the world, knowing all the odds and the correct pot odds bet for every scenario, but unless you have the patience then it can all be for nothing. It really does become like a job and one that you have to grind at every day, which can strip the whole element of fun or entertainment from it. At that point they're not even gambling any more, but making business like decisions and working with the correct bankroll is critical as well. Outside of skill based games you are literally burning your money in the long term, because they know that even a tantalizing win will just be spent on more gambling and the definitely profile players in this way.

Leisure times isnt bad as long you do have the right control of yourself in terms of spending and allocating budget then i dont see any problems but if you are a type of person which is really  that impulsive when

it comes to gambling then it wouldnt really be a good idea that you should really be dealing with it yet spending would be out of control and as long you do have the money to spent then you would really be keeping

on doing that.Use the amount which you can afford to lose and be sure that you wont really be affecting your primary needs and savings then you should be fine.

I like this way of thinking because I try to do it myself. If we assume in advance that the money we spend on gambling is wasted, we react less emotionally when gambling.
When determining the monthly budget, it can be very helpful, because if we know what bills we have to pay, we can determine that, for example, we can lose $100 for gambling.

Even the gambling industry they sing bet responsibly as their motto, every gambling should get the understanding that betting with money that cannot be afford to lose is nothing but greed. Greed is what makes one to use all what is available to gamble.

the majority of those who lose gambling and suffer heavy losses are those who are not able to manage their emotions and are very greedy

Gambling with money that can not afford to lose will only lead to failure because our minds are not comfortable when gambling under that much pressure

peace of mind is the key to winning in decision making when gambling

This is very true. However, we should be aware of this and if we have limited funds, we should plan them and not get carried away.
If our financial situation at some point is difficult, then we should not risk money in the casino. That is why we should decide how much we can spend on gambling in a given month.

Well, you're telling it right and that's exactly where the others are struggling about. Despite their financial difficulty, they're still getting some funds for themselves to gamble and the bad thing about it is they can't control themselves in having those funds which is particular for other things.

We really have to. If you have no plans how much your budget will be, daily, weekly or monthly, you're just going to spend as much as you can.

Not having preset money management rules and lack of self-control will leak such consequences. Always having a backup plan in such situations can save gamblers, otherwise, he will look for loans from the close circle. Not controlling your losses can lead to the same story ending. Failure to meet standards can take everything from us since it is addicting and we think it will hit sooner or later. RTP can be real in millions of spins but we can't spin those higher levels of gameplay.

If we don't limit the amount of money we will use to gamble, will only make us spend more money than the original plan. Because after all
gambling will make us addicted and we sometimes have difficulty controlling ourselves when gambling. But if we provide a certain budget
from the income we get for gambling, it can at least control ourselves to stop playing gambling if our budget runs out. But even that requires
a strong commitment, so that we use our money to gamble according to a predetermined budget.

Drawing out a budget and sticking to it no matter the urge that might emerge after losing the initial budget is just the key. Discipline and total self control helps a lot. If a gambler can afford to spend at least 20% of his general income on gambling the risk would be reduced to its minimal. seeing gambling as a fun venture and not a get quick scheme can save the day and prevent issues of bad addiction and sucidal thoughts

I think that this thread will to some extent make people who do not plan their expenses aware that it is very important. Anyone who carelessly spends money gambling is at risk of becoming addicted sooner or later. Sticking to a budget plan is a very important aspect to see the limits.

If you dont put up limits then you would really be finding a big problem later on.Handling out finances would be really needed in all sorts or angles because this would really avoid
you into more severe problems which would definitely make you regret towards your decisions. Spent only the amount which you can afford to lose and dont go beyond
limits and prioritize things and dont mind off that much about leisure because it woudl really be just putting you in trouble.

Hopefully, they can be aware that managing their funds in gambling is very important and only gambling using the money they can afford. Some people who have many experiences can be aware and realize but the other people, especially new people, will not think much about this and will have the same problem as other people before. We can only remind everyone in this forum and people around us to always take care of their money while they are playing gambling and the rest will be up to them because we can not force them to follow our suggestions.

Today people are now having some tired situation due to quarantine and of course, they are looking for something to entertain themslves and one of this is playing gambling which is really the objective of the gambling platforms to give entertainment to their players at the same time to earn. Some of them already addicted and cant control themselves on playing too much and lose and wage most of their assets just to satisfy themselves, this kind of action requires a guide and self-awareness better to stop and cure imemdiately this kind of addiction. There are friends and family that helps to find hobby which is not as expensive as gambling.

The only people who can afford to gamble with more than they have are movie characters. I have never heard that someone took a credit, won a bet, returned credit and lived a long and happy life. The number of happy gamblers are greatly lower to those who lost. If a person cant live without gambling, he must train feeling of fullness, set limits. People must realize, when they gamble, they are alone against a whole system. Even if they won, the casino still wins. Not today, but next time definitely.

I agree that this is probably quite rare and most of the people who gamble on credit will end up being ruined
just remember that just because we haven't heard of them this doesnt mean they don't exist.

The funny thing is when starting off to gamble we always have a plan not to wager more than one can afford to lose, but fortunately after a few gaming rounds we find ourselves winning and then the temptations to wager more than usual kicks in and we know how this ends... thats how greed gets the better of us and we lose it all in the next few rounds of play and wish we didnt play any of the games at all. But then again you cant win if you dont play.

I have heard many such stories, but I have never been in such a situation myself. I always spend no more than I planned, but I'm not a gambler at all (for me gambling is mathematics), so I probably am not the best example. And usually I have a plan in case I start winning - I leave the amount with which I started playing and try my luck with "free" money.

I agree with this, I personally avoid being in debt as if it is the worst thing in the world, and in my opinion it is as at least to me it is almost impossible to have a good night sleep knowing that I owe something to someone else, so if anyone is indebted then they cannot afford to buy any luxury and this includes gambling as well, but once you are out of your debts then that is the time in which you can be more permissive with yourself and spend a little bit more of money.

It is said that persons watch must cost not less than 1% of his year income. I dont know who and how this was calculated, but I think something similar might be applied to gambling.

When you get salary, pay your bills, make obligatory payments, buy food for 1 week and multiply this amount by 4, save 10-15% of your monthly salary for unexpected expenses. What is left - the amount you can easily spend on yourself. Spend it on gambling, entertainment or save, do what ever your want, as you know your budget. I would do like that if I were an addicted gambler.

It depends on how we handle our finances because we don't have the same value of income and the same source. I think as long as we are responsible for gambling this percentage would be useless as we can control what we can only risk. Those who get addicted maybe know how much they will risk only but they just failed to execute their plan effectively.

The temptation often occurs when winning at bets but if it is not controlled then of course the money from the victory will run out too, but if our principle is to play and then win and stop for a moment I think it is difficult if we want to play continuously the feeling is not satisfied even though there has been a victory in the game. our hands then that greed can destroy us.
This control is very important and must be regulated so that when this happens again later you can enjoy the money from the winnings.

When they suffered straight loss, that's when they lose their sense and decide to bet everything they have. Unfortunately, most of them also lose it and they will remain stressed until they gave up to get back what they've lost. These kinds of people are safe from getting the worst addiction of gambling because they know how to stop when aren't going their way and finally decided to focus on something that will gonna benefit them and makes them move on with their unpleasant experience with gambling. while the others still push towards their goal without any thought of they might gonna be suffer more losses and bury themselves with loans.

That's always the case for the starters, we make promises on how much we're willing to lose but eventually, as we lose. We want to recover that loss and even win more.
The craving is increasing and that's the sensation of gambling. We want to wager and bet for some more because that's making us feel that we need to do it for more.

Limiting the amount of funds for gambling only works if a person has learned to control his funds. Some gamblers can not comprehend this wisdom for years so it has nothing to do with whether the player is a beginner or not. It depends on the person himself and his attitude to gambling and his own money. I will never understand a person who is ready to spend his last money on gambling for a tiny chance to win. It seems to me that such a person is incapable of overcoming a gambling addiction without the help of others. 

Even with the help of others, not all people can correct this behavior pattern because it is not an addiction, but simple dumbness. It may sound rude, but some people are not intellectually developed and no matter how you explain to them about cause-and-effect relationships, they do not understand this and continue to fall for casino tricks.

I believe that if a person knows how to make money, then he is not stupid.  Most likely he simply does not have a sufficient level of financial literacy and responsibility that does not allow him to treat his money with care.Most likely he understands that the chances of leaving the casino with a winnings are small, but he can only stop when his pockets are empty due to greed.

If we assume that a person knows how to make money, then in most cases he is certainly not stupid. The problem is that the described problem concerns all people and in the modern world people have money even if they don't know how to make it. In different countries, the amount of this "easy" money is different, but the more developed the country is, the more such money is there.

Sometimes those gamblers are only promising to themselves and following it at the beginning. But eventually, they're changing and won't follow the rule that they've promised to obey.

There really are those gamblers that are willing to spend the last money they've got. They believe in YOLOing and that's what they think where their final luck is going to come out.

Would really be just sensible if you would spend up money because you do know that you could earn it back again from various sources and i dont really see any problems with that as long you are aware on your spending

unlike other people who do spend out that theres no tomorrow to mind off and its true that we do have different aspects in life which whether you are minding about your future or just only stuck with the present
and minding it off later on when it comes to problem.

I dont like on having that very stressful kind of condition on where you do seek off money just because you had already spend it out.

When I hear about the rate of losses in gambling and most casinos, I'm always inspired to retardation on several occasions.
...and I keep asking myself, why was these idea invented at first? was this not to help most people exercise thier passion for gaming,with thier money and also give them some kinda liverage as ends meet? ...it still remains an unanswerable questions but on the contrary, people have discovered they only help the company make money from their pockets so they don't indulge to get something in return; they play just for fun and I don't think any sane person would rather prefer to stake millions over his worth just for fun..... ;D
It's always advisable to understand what you're doing ....

We can't blame them, people do gamble because of dual purposes. While having fun at the same time hoping to make a profit and maybe that's the reason why they keep gamble. You can even buy popcorn and drink while watching movies in the theater while having fun, the same as gambling, but while having fun there's a possibility that you will make a profit from it. So the problem is if you didn't put a limit, it should be spending the amount that you can afford to lose only.

They play gambling because of many reasons. Some of them play gambling to make money, while others play gambling to have fun and kill time. The passion for playing gambling longer will become bigger for both people, especially if they win a lot of money many times. So they decide to use their winning to win more but unfortunately, not many of them can win much more money. At the same time, the rest of them are losing their money without having a chance to recover their losses. It happens to many people here and out there so we need to avoid that if we do not want to see a big loss.

There is something that I always proclaim, and that is that for gambling, sports betting, you have to bet the amount of money that one should be willing to lose, otherwise it is not good to put any assets at risk, if it is done that way Risk management is very likely to be a success and you will never have losses or failures as you commonly should.

However, when you do not have this control, it is very easy to fall into addiction and many times in the loss of quality of life, because the compulsive gambler bets everything he has in order to gamble and obtain that pleasure.

This is the worst possible scenario - first losing the money you need to live, and then looking for it while under constant stress, but for some reason, many gamblers fall into this pattern. Sometimes I get stressed just thinking I'm going to run out of cash + I'll lose income (the sum of these events is extremely unlikely) - it's just stress from thoughts ;D It’s not clear to me how people drive themselves into stress from actions.

It's either they're drowned/addicted or feeling some false hype which makes them feel that it'll be their one last lucky shot to win back what they've lost. But these cases are really common since then and the result will likely another loss for them, and there are some rare cases who also got lucky to get their money back. Still this practices ain't good to live with as it can result to debts that you can never repay.

Even though this is not quite right, it is true that almost most people gamble in addition to getting pleasure, they also want happiness there.
apart from that all gamble, keep on gambling even if you really want profit but still luck will not come every day and no matter how hard we gamble, it is still a bookie and a gambling house :D