Don't bet more than you can afford to lose.

[stadus]

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.

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[AB de Royse777]

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?

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.

[Maslate]

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.

[arwin100]

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.

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.

[YOSHIE]

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.


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.

[Oshosondy]

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.

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.

[Wexnident]

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.

[BitcoinAccepted]

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.

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.

[Japinat]

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.

[Hydrogen]

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.

[Oshosondy]

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

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

1. If I lose I don't get frustrated and cry or worry about not having money.

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.

2. If I win I use the money again in betting.

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.

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.

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.

[Sanitough]

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

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.

[xSkylarx]

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

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.

[ChiBitCTy]

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.

[Oshosondy]

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

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.

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.

[rhomelmabini]

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.

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.

[smyslov]

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.

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.

[skarais]

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.

[dimonstration]

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.

[michellee]

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.