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

[acroman08]

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.

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.

[abhiseshakana]

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?

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.

[Chato1977]

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?

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

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.

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 .

[Kakmakr]

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.

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. 

[jhonjhon]

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.

[molsewid]

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. 

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.

[Yamifoud]

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.

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.

[D-law]

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.

[Japinat]

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.

[Jackl87]

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 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.

[robelneo]

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.

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.

[KTChampions]

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.

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.

[goldkingcoiner]

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.

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.

[delfastTions]

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?

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.

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?

[dothebeats]

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 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.

[South Park]

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. 

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.

[madnessteat]

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.

[Falconer]

$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.

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.

[Raflesia]

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

[virasog]

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.

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.