Limited escrow service for building self discipline.

[yazher]

Involving a third-party for one's problems regarding bankroll management and self-control isn't really good. Also, even if one platform limit your max bet for a single day (which I think most platforms would gladly ignore to implement), the gambler could just hop from one platform to another, effectively evading betting restrictions on one platform and just proceeding to bet on another. There isn't a third-party solution to self-control, unless the said third-party is allowed to do anything to prevent the person in question from doing different actions to gamble.

A good self-control would be enough if one needs to restrict himself from playing. he doesn't need to let anyone secured his earnings since he can control himself without a problem and this is something for anyone to practice if they don't have it yet. This won't come easy at the start, but on the long run, you will gonna use to it and will not carried away by his emotions.

[1715022893]

1715022893

[ralle14]

Not really practical to apply, because we know how big the crypto gambling industry is and we have very few members who is trusted with such huge money so do you really think it is possible for them to handle all the traffic?

Yes it's possible as long as they're getting paid but I doubt there would be a lot of gamblers willing to use escrows since most of them don't spend too much.

And why you can't do that by yourself.

Doing it on your own is always better but the escrow solution is most likely for those who already failed and are looking for other alternatives.

This not actually effective for me. I'd rather try to resist the desire to gamble once I lose, with my funds just accessible anytime. If I set a certain amount to gamble per week and loses it all on the 2nd or 3rd day, there are chances that I will not follow the escrow terms.

If that's the case then the escrow should ignore your requests, once the funds are in his hands it should only be released on the said date.

[barbara44]

A good self-control would be enough if one needs to restrict himself from playing. he doesn't need to let anyone secured his earnings since he can control himself without a problem and this is something for anyone to practice if they don't have it yet. This won't come easy at the start, but on the long run, you will gonna use to it and will not carried away by his emotions.

But being a gambler I can tell you that it is not easy because when you lose some money initially then you feel desperate to win the amount back and that desperate moments can cost even bigger loss maybe it is worth having someone else control your funds but make sure they are trusted and you can access them in case of absolute scarcity. I have played in past where I locked my funds for a set date but it felt horrible when I needed them but I could not access them. So, I am not a big fan of locking your money but if you get out of control then yes it might be worth it.

I think if you rather only deposit as much as you are affording to loose then you don't even need bankroll management because you know what you deposited was affordable to be lost.

[redsun114]

Not really practical to apply, because we know how big the crypto gambling industry is and we have very few members who is trusted with such huge money so do you really think it is possible for them to handle all the traffic?

And why you can't do that by yourself.

You know you can do it yourself and pretty easily, I am someone who stakes my TRX and all my gambling is also done via TRX and later converted into bitcoins when I need them.

So basically I put my coins on staking and I cannot access them until a specified date which prevents me from gambling and also makes me some nice profit because if I was going to hand over my coins to someone just to control them, then I would always be worried if the person can be trusted or not and if even I can trust him then I am not getting any return on my money instead I might be paying some fees to the person holding it for me.

[20kevin20]

The main and most evident issue when talking about forced self discipline is that you leave yourself with a restriction you may really not want to have in a matter of time. Like, imagine you won $100k but you set your account so that you only get to withdraw $1k a month.. and one week later you urgently need all your funds.

If there's a way you can somehow cancel this escrow thing, it'd make no sense to have it in the first place. So I personally say it's a bad idea to have forced self-discipline. If you really cannot abstain from gambling more than you can afford to, then you'd probably be better off gambling at all.

[Mahanton]

Not really practical to apply, because we know how big the crypto gambling industry is and we have very few members who is trusted with such huge money so do you really think it is possible for them to handle all the traffic?

And why you can't do that by yourself.

You know you can do it yourself and pretty easily, I am someone who stakes my TRX and all my gambling is also done via TRX and later converted into bitcoins when I need them.

So basically I put my coins on staking and I cannot access them until a specified date which prevents me from gambling and also makes me some nice profit because if I was going to hand over my coins to someone just to control them, then I would always be worried if the person can be trusted or not and if even I can trust him then I am not getting any return on my money instead I might be paying some fees to the person holding it for me.

It would really be a stressful thing for your part that you do always mind of that you have funds on other people or platform on where you do trust up or store your funds just because you are trying to control up yourself on spending.We can actually do this on our own and its not really that necessary to have such feature or service because if people do really tend to control up themselves then they can
really do it anytime.

Its just a matter of self-discipline and control because if you dont have these things then you will surely spent your money as long you do know that you do have still into your pocket.
When you do gamble  then be sure that you only spend on the amount that you can afford to lose.

[Heisenberg_Hunter]

If that's the case then the escrow should ignore your requests, once the funds are in his hands it should only be released on the said date.

I don't think an escrow would work for such scenarios as OP has pointed out. Escrows are middle man for transactions and not for holding our funds and providing to us on a regular basis. If we are spending higher than we thought it should indeed be controlled by us and not by anyone managing the fund. On another hand, if we tend to win higher in the gambling i.e for example 10 BTC, an escrow should indeed create a secured cold wallet to store the funds. Having a large sum of bitcoin in hot wallet would put the escrow in question and there are higher possibilities of escrow losing the fund on a hack.

Even if escrow tends to agree upon the holding of funds and releasing them at right times, cold storage wallet would pose a trouble. What if the gambler requires few hundred dollars each week and troubling the escrow each and every time to release from the cold storage? As ralle14 said, escrow shouldn't agree upon with frequent transfer of funds but rather should act on specific timelines.

More or less, such an event of escrow managing our fund for future expenses is highly unlikely.

[livingfree]

Not really practical to apply, because we know how big the crypto gambling industry is and we have very few members who is trusted with such huge money so do you really think it is possible for them to handle all the traffic?

And why you can't do that by yourself.

They can as long as you can pay them for the service that they will render to you. It is a solution for yourself if you alone can't handle your money and control it.

But if you can, there is no need for others to handle your money. Self-discipline can be done by ourselves.

[arwin100]

Not really practical to apply, because we know how big the crypto gambling industry is and we have very few members who is trusted with such huge money so do you really think it is possible for them to handle all the traffic?

And why you can't do that by yourself.

They can as long as you can pay them for the service that they will render to you. It is a solution for yourself if you alone can't handle your money and control it.

But if you can, there is no need for others to handle your money. Self-discipline can be done by ourselves.

In the first place I'm wondering why we need that while we are betting? I got the point about for having a person who hold your money in any case but its a double hassle for us since Im sure we need to pay those guys just to do the service for us. I really think the most effective way is to limit our self to put a huge capital to gamble, always bring the amount what we can afford to loss and think about leaving when that amount is already emptied on our pocket.

[livingfree]

Not really practical to apply, because we know how big the crypto gambling industry is and we have very few members who is trusted with such huge money so do you really think it is possible for them to handle all the traffic?

And why you can't do that by yourself.

They can as long as you can pay them for the service that they will render to you. It is a solution for yourself if you alone can't handle your money and control it.

But if you can, there is no need for others to handle your money. Self-discipline can be done by ourselves.

In the first place I'm wondering why we need that while we are betting? I got the point about for having a person who hold your money in any case but its a double hassle for us since Im sure we need to pay those guys just to do the service for us. I really think the most effective way is to limit our self to put a huge capital to gamble, always bring the amount what we can afford to loss and think about leaving when that amount is already emptied on our pocket.

Treat this like a special case.

There really are people that needs somebody's help in things like this. It is like hiring your personal money control management through a service of an escrow and it should be correspondent with a fee because it's a service that they have to get paid for. They'll allocate their time and effort for keeping your money safe and again, this is for those people that can't manage their money alone and can't control their behavior as they gamble.

[Shasha80]

I don't think it's a wise decision to entrust a third party to manage our bankroll management. Because of the effect we will dependence
on these third parties, which means we have to pay more to pay for their services. It's better for bankroll management to be done by
ourselves, more effective for building self discipline.

[pikkie]

Not really practical to apply, because we know how big the crypto gambling industry is and we have very few members who is trusted with such huge money so do you really think it is possible for them to handle all the traffic?

And why you can't do that by yourself.

They can as long as you can pay them for the service that they will render to you. It is a solution for yourself if you alone can't handle your money and control it.

But if you can, there is no need for others to handle your money. Self-discipline can be done by ourselves.

but I feel there is no harm in paying them to help well because when we pay they will provide good service with full experience they are experts. if done alone sometimes it's still wrong because I think I still don't have much experience to handle this alone.

[Darker45]

This is going to be useless if aside from the escrowed funds you still have other funds kept in other wallets which are fully under your control. So it is not going to be effective for me. At the end of the day, it is not about having an escrow or having the bankroll management skill but having the right disposition or discipline to say no or enough. It is really all about control.

If you cannot control yourself, what assurance do you have that the funds in your other wallets outside the escrowed funds will remain untouched after your gambling wallet is drained?

[livingfree]

Not really practical to apply, because we know how big the crypto gambling industry is and we have very few members who is trusted with such huge money so do you really think it is possible for them to handle all the traffic?

And why you can't do that by yourself.

They can as long as you can pay them for the service that they will render to you. It is a solution for yourself if you alone can't handle your money and control it.

But if you can, there is no need for others to handle your money. Self-discipline can be done by ourselves.

but I feel there is no harm in paying them to help well because when we pay they will provide good service with full experience they are experts. if done alone sometimes it's still wrong because I think I still don't have much experience to handle this alone.

Actually there is no harm at all if you will get the right person and the one that has a good history in escrowing transactions or deals.

And for the fee, there's no need to discuss it as it's common for them to get paid because they are offering a service. Unless the escrow is your friend or you know him/her personally and is waiving the fee just for you.

[Pamadar]

I don't think it's a wise decision to entrust a third party to manage our bankroll management.

Yes, it's not proper to entrust your money to someone if you are still in your good mind.

Because of the effect we will dependence  on these third parties, which means we have to pay more to pay for their services.

It's our money we should control it properly instead of letting someone to manage it for us, being responsible is what we need instead.

It's better for bankroll management to be done by ourselves, more effective for building self discipline.

It's indeed what we needed in order to control this, we have to learn how to properly manage our bankroll.

[Wapfika]

If you cannot control yourself, what assurance do you have that the funds in your other wallets outside the escrowed funds will remain untouched after your gambling wallet is drained?

This is on point, there is no need for escrow if we trust ourselves enough that we are in control, that we can limit our game and if have escrow that we will  not lie to ourselves that we will not have other funds other than the fund being escrowed. However, there will be sure plenty of times that one will be able to say to themselves that "last try, till many last happen", better if casino will have their own limiting deposit to control the players which is quite impossible  since what they wanted is for us to be addicted in playing.

[CarnagexD]

Unfortunately, some gamblers have serious issues with that and can't recgonize the signs that they might be in financial troubles because of excessive gambling. In that situation escrow agent might help.

It really depends on us, some people are really into gambling and you can't stop them from gambling as it is the thing that entertains them. Escrow can really help those people who are in need to eliminate their addiction and manipulate their urge on gambling. By that, they can really maintain themselves as this will help them control and organize their assets so that they can't easily spend it into gambling and waste it.

If we really want to limit ourselves then we need to do it on our own and as far as I remember there are sites which lest you to lock the funds temporarily and also there are ideas available to lock your funds inside your wallet itself.

It is hard to do it with only yourself. Let's talk about the reality, a person can't instantly stop himself from gambling if he is addicted to it.

Maybe, little by little, he can minimize the money that he is going to spend so that his funds will not be wasted on those gambling platforms.

[Sadlife]

Such services would be nice but i doubt that any player would actually withhold their money to a middle man especially when gambling. Because there are instances that you might quickly spend all your bankroll in an instant, as you might know casino's are risky there's always a high chance to win big or loss big quickly. And you call the escrow to give the funds and he refuses, but threaten him to end the contract.

[Ridwan Fauzi]

I won't do that for myself, money management is important to be mastered. I have to learn hard to make my money management is good and can give a profit consistent to whatever I do (gambling or trading).

If I trust someone else to manage my money I believe I can't unfold and just stuck somewhere where I have to continue to deposit my money without making a withdrawal.

The service might be suitable for those gambling addict who just make deposit, I mean he just think that gambling is his hobbies and never thinking that he has to get a profit in it. At least it will help him to not only spend his money, he will have a saving where he can take anytime he wants.

[andycarrol]

Such services would be nice but i doubt that any player would actually withhold their money to a middle man especially when gambling. Because there are instances that you might quickly spend all your bankroll in an instant, as you might know casino's are risky there's always a high chance to win big or loss big quickly. And you call the escrow to give the funds and he refuses, but threaten him to end the contract.

gambling places will always provide a very high risk, therefore you should be able to remain alert when doing any gambling games, because there will never be someone who can guarantee profit, all of them have the potential to become poor instantly or if you are lucky then you can become rich instantaneously.