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

[madnessteat]

^

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.

[qwertyup23]

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.

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."

[decodx]

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.

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.

[milewilda]

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.

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.

[Viscore]

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.

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.

[boyptc]

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.

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.

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.

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.

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.

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.

[KTChampions]

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."

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.

[nakamura12]

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.

[Marykeller]

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.

[Oceat]

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.

[STT]

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.

[milewilda]

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.

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.

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.

[Obito]

It's always easy to say, not to spend more money than you can afford. Undoubtedly, many players will also gamble with that approach, but if the balance at a site is at 0, things go wrong. Then strategies are adjusted and money is bet which can't really be missed, hoping for a hit, but which often does not come.

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.

[xSkylarx]

It's always easy to say, not to spend more money than you can afford. Undoubtedly, many players will also gamble with that approach, but if the balance at a site is at 0, things go wrong. Then strategies are adjusted and money is bet which can't really be missed, hoping for a hit, but which often does not come.

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.

[michellee]

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.

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.

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.

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.

[robelneo]

It's always easy to say, not to spend more money than you can afford. Undoubtedly, many players will also gamble with that approach, but if the balance at a site is at 0, things go wrong. Then strategies are adjusted and money is bet which can't really be missed, hoping for a hit, but which often does not come.

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.

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.

[TheGreatPython]

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?

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.

[Gosgosking]

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.

[Yamifoud]

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.

[bitgov]

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.