Threshold of Loss in Gambling

[Silberman]

Gambling is fun. And it doesn't matter whether you go to a land-based casino to bet or an online casino. When we bet, we celebrate our wins and count our losses. According to this study, the researchers found that gamblers are satisfied with small wins and will tolerate small losses but when they hit the threshold of loss, they will not play anymore.  I will attempt to define threshold of loss as regards gambling as the minimum intensity at which a gambler can no longer tolerate a loss.

My question is, can you remember a time when you reached your threshold of loss while gambling?

I just look at my bet history after few bets and also keep an eye on the wallet balance, if it reaches below 50% of my initial amount I had at the start then its the time to break, that is what I actually do while playing dice, slots or any other casino game and about sport betting just go with minimum amount with no expectations on rare occasion just to check my instinct is right or not.

I have a low tolerance when it comes to losses, so basically I always plan ahead. I always set my bankroll to the acceptable losses level and then play without worries. Since I am able to accept the losses that are the budget in my bankroll, I can enjoy the games and do anything without the worry of regretting them later.  I already learned my lesson a year ago when I get out of control during my gambling activity and pulled my crypto holdings which are around $1000 at that time to gamble and a week later it surge 10x.

A case like yours is in fact very common, after all it is not like we are perfect since we all make mistakes from time to time, so many times it takes a person to go through a series of mistakes which leads to them to losses that they were not expecting at the time, and while it is painful at that moment to suffer such losses at the same time many people grow from that experience and they learn how to keep themselves in check when they gamble, something that is invaluable as this lesson is not only useful when you gamble but in many other aspects of your life.

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[traderethereum]

Gambling to me is like going to a movie theater and watching a movie. Do I have a strategy to "recover from all those losses", I mean, the money spent on movie tickets? No. I think, no one does. The only difference between playing slots and going to movies is that accidentally you can earn thousands times your bet with the former. But "accidentally" is the keyword here. You can't, and you shouldn't, count on it.

Having this kind of attitude to gambling is what it really requires to play the game and whatever is the outcome you will be happy with it and not break yourself down because of losses. There are many examples that gambling losses should be made for losses to learn from. What about money spent on frivolous things or products bought and stolen or not received after they are bought. If we keep dwelling in the losses from gambling, we may end up with heart attacks , it is suppose to be fun game.

But unfortunately, many of us don't learn from the losses we've had and instead continue to gamble and this time, they use more money so their losses are even bigger.
Indeed there are times when they can get big wins but if they compare it to the amount of money they have used, it will still be more than the amount of their losses.
But if we use gambling as a place to release tension after daily activities and don't think about losses and can manage how much money we use, we will find gambling as a medium to get pleasure.
That's why it's important to manage the amount of spending that we use to gamble so that we won't feel too sad if we lose.

[Maslate]

Having a gambling budget is a good idea, some people do not see this with good eyes as they think that for a person to have some money destined to gambling already then that person must have some problems with their gambling, but in fact it is the opposite, those which have a budget for their gambling activities are the ones that have the most control over their gambling as if at any moment they spend their gambling budget then they stop gambling immediately and then do something else to entertain themselves.

There is a statement that he who fails to plan has plan to fail, because having a budget for your gambling activities will safe you a lot from  careless spending, because we all know gambling can be addictive and if care is not taken one can possibly lavish all the money he had on him, with the mindset to recover the already lost money and if care not taken can still loss again and again. So having at least a set aside money for gambling with at either weekends or anytime is the best practice, because it put you in control over your own money

In my opinion, it is very important to be able to limit your spending in gambling because it is a great mechanism that allows you to save the budget in those times when emotions overtake reason. especially often this behavior appears at a time when a gambler loses.

I personally set myself a limit of $100 per gambling session and try to stick to this plan.

Right, because whether if it's online casino or live casino, we should need to have plans if ever luck is not on our side. We should always bring an exact amount of money that we can also afford to lose so that we can always call it a day if in-case we lost it all through these activities. The same logic if we are winning, we should also able to determine an amount so that we can experience what we won and not just letting it drain.

[masulum]

-snip-
That's why it's important to manage the amount of spending that we use to gamble so that we won't feel too sad if we lose.

It's true what you said. I had the feeling that I still had enough money to gamble, makes a funding continuously when I lost, until all the money was gone. Indeed all that money is free money. However, still thinking if it's not overused it might still have a few dollars to trade LOL. But, regret is also useless. take this as a lesson to be more controlled in gambling. Trying to get a win continously will only make us more irregular in betting. From the initial small bet, increasing the bet, until finally the balance and bet are not balanced and make it run out faster.

[FatFork]

-snip-
That's why it's important to manage the amount of spending that we use to gamble so that we won't feel too sad if we lose.

It's true what you said. I had the feeling that I still had enough money to gamble, makes a funding continuously when I lost, until all the money was gone. Indeed all that money is free money. However, still thinking if it's not overused it might still have a few dollars to trade LOL. But, regret is also useless. take this as a lesson to be more controlled in gambling. Trying to get a win continously will only make us more irregular in betting. From the initial small bet, increasing the bet, until finally the balance and bet are not balanced and make it run out faster.

Without doubt, a lot of people feel very sad after they've lost big bucks during this kind of activity, and the only remedy for such outcome is to limit the amount of money that we are able to spend in this manner. The problem with gambling is that even if you know that the results may not come back to you, you still keep on trying. And that's why it's really important to have specific amounts that you are able to spend in this kind of activity.

It is important to understand the basic rules of gambling, as well as to learn about the potential risks and dangers associated to it, so that one will be able to enjoy the excitement that gambling offers and not get lost in this kind of relationship with it, where a relationship may ultimately leave us with nothing. So, learn how to protect yourself and avoid losing more.

[Silberman]

But unfortunately, many of us don't learn from the losses we've had and instead continue to gamble and this time, they use more money so their losses are even bigger.
Indeed there are times when they can get big wins but if they compare it to the amount of money they have used, it will still be more than the amount of their losses.
But if we use gambling as a place to release tension after daily activities and don't think about losses and can manage how much money we use, we will find gambling as a medium to get pleasure.
That's why it's important to manage the amount of spending that we use to gamble so that we won't feel too sad if we lose.

This is the correct way to approach gambling, but what happens is that a great deal of people begin their gambling journey with those intentions but they get lucky once in a while and they get greedy, then they begin to think about all the money that they could win if they could somehow beat the casino, and that is when people begin to lose control of their gambling because instead of playing for fun now they are playing because they want to obtain profits, and we know that is incredibly difficult to do.

[TopT3ns]

-snip-
That's why it's important to manage the amount of spending that we use to gamble so that we won't feel too sad if we lose.

It's true what you said. I had the feeling that I still had enough money to gamble, makes a funding continuously when I lost, until all the money was gone. Indeed all that money is free money. However, still thinking if it's not overused it might still have a few dollars to trade LOL. But, regret is also useless. take this as a lesson to be more controlled in gambling. Trying to get a win continously will only make us more irregular in betting. From the initial small bet, increasing the bet, until finally the balance and bet are not balanced and make it run out faster.

Sometimes you have to think when the money you use is too much and if it is used for others then you can already make a profit, for example, is building a business, that way without realizing it is like gambling because if your business sells then you can get a profit and if not then you will only lose money, at least the percentage of profit is still large by opening a business because it can still be accompanied by hard work efforts to succeed, so at least if you have the intention to use the money to gamble then don't look back because I'm sure that it will be painful because there are so many of them.

[Betwrong]

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~But if we use gambling as a place to release tension after daily activities and don't think about losses and can manage how much money we use, we will find gambling as a medium to get pleasure.
That's why it's important to manage the amount of spending that we use to gamble so that we won't feel too sad if we lose.

Yes, if we lose a significant amount for us, we can't just not think about it. It will ruin our day, at the very least. And instead of relaxation we will only get more stress. Imagine, paying your money for being even more stressed. How frustrating is that! The only way to avoid such situations is limiting your potential losses per session. So that if you lose in the end, you think "Oh that's nothing. Let's just move on."

[ethereumhunter]

Right, because whether if it's online casino or live casino, we should need to have plans if ever luck is not on our side. We should always bring an exact amount of money that we can also afford to lose so that we can always call it a day if in-case we lost it all through these activities. The same logic if we are winning, we should also able to determine an amount so that we can experience what we won and not just letting it drain.

That's true but unfortunately, not many people have plans if luck is not on our side so we can panic and immediately use all the money available to recover the losses we have experienced. Instead of being able to recover losses, we can get more losses and even we can lose all the money. Sometimes people forget what they have planned and will not stop until they achieve something they want. We can't be like that and we have to be in control of our game.

[johhnyUA]

they hit the threshold of loss, they will not play anymore.  I will attempt to define threshold of loss as regards gambling as the minimum intensity at which a gambler can no longer tolerate a loss.

Man, for many gamblers such "treshold" is the same as "lose your flat, your car and your wife" 
Because many people are addicted to gambling, like drug jankie. So for them "tershold of loss" does not make any sense.

My question is, can you remember a time when you reached your threshold of loss while gambling?

I havent reached it yet, this for the good I think.

[Silberman]

Yes, if we lose a significant amount for us, we can't just not think about it. It will ruin our day, at the very least. And instead of relaxation we will only get more stress. Imagine, paying your money for being even more stressed. How frustrating is that! The only way to avoid such situations is limiting your potential losses per session. So that if you lose in the end, you think "Oh that's nothing. Let's just move on."

True, many times I have problems understanding those which get addicted to gambling as gambling should be something that we do in order to relax and have a good time, but those which are addicted are not having a good time at all and if anything they are suffering greatly because of their actions, and if that is the case they may as well find another activity in which they get the same suffering but save themselves all of that money they lose.

[maydna]

Yes, if we lose a significant amount for us, we can't just not think about it. It will ruin our day, at the very least. And instead of relaxation we will only get more stress. Imagine, paying your money for being even more stressed. How frustrating is that! The only way to avoid such situations is limiting your potential losses per session. So that if you lose in the end, you think "Oh that's nothing. Let's just move on."

True, many times I have problems understanding those which get addicted to gambling as gambling should be something that we do in order to relax and have a good time, but those which are addicted are not having a good time at all and if anything they are suffering greatly because of their actions, and if that is the case they may as well find another activity in which they get the same suffering but save themselves all of that money they lose.

Maybe at first, they think of playing gambling just to relax and have fun and as the tension increases and the losses they get more often, they begin to lust to recover their losses. They thought I wanted to recover from the loss and then quit but unfortunately, sometime after they managed to recover the loss, the lust for more money got higher because they saw them getting lucky. That makes them even more excited to continue the game, where the problems started.

[Betwrong]

Yes, if we lose a significant amount for us, we can't just not think about it. It will ruin our day, at the very least. And instead of relaxation we will only get more stress. Imagine, paying your money for being even more stressed. How frustrating is that! The only way to avoid such situations is limiting your potential losses per session. So that if you lose in the end, you think "Oh that's nothing. Let's just move on."

True, many times I have problems understanding those which get addicted to gambling as gambling should be something that we do in order to relax and have a good time, but those which are addicted are not having a good time at all and if anything they are suffering greatly because of their actions, and if that is the case they may as well find another activity in which they get the same suffering but save themselves all of that money they lose.

That's actually a good advice. I mean, if that activity would be a job. Not only they would save the money, they could earn good money with some boring and hard job, because normally those jobs are well paid.

I don't know, in reality, who of them addicted gamblers could take that leap, but it would be a great step on the way of self-improvement.

[Mauser]

That's true but unfortunately, not many people have plans if luck is not on our side so we can panic and immediately use all the money available to recover the losses we have experienced. Instead of being able to recover losses, we can get more losses and even we can lose all the money. Sometimes people forget what they have planned and will not stop until they achieve something they want. We can't be like that and we have to be in control of our game.

I understand what you mean very well and had similar experience in the past. When I first started out with gambling it was hard for me to control my gambling budget, especially during a losing streak it's hard to remain in control, after to many losses in a row I started to care less and increased my risk to try and get the money back. That only lead to losing everything. It's important to realise that we fall for such behaviour and need to actively avoid it. It's also why so many people say the most important thing in gambling and investing is to control our emotions. What helped me the most was to set fixed budgets for a month that I can gamble with. Only when I limit the amount I can use I avoid the risk to lose too much money. Having a fixed threshold of our maximum loss is also a good idea, then we know that we need to take a break from gambling.

[Daltonik]

I understand what you mean very well and had similar experience in the past. When I first started out with gambling it was hard for me to control my gambling budget, especially during a losing streak it's hard to remain in control, after to many losses in a row I started to care less and increased my risk to try and get the money back. That only lead to losing everything. It's important to realise that we fall for such behaviour and need to actively avoid it. It's also why so many people say the most important thing in gambling and investing is to control our emotions. What helped me the most was to set fixed budgets for a month that I can gamble with. Only when I limit the amount I can use I avoid the risk to lose too much money. Having a fixed threshold of our maximum loss is also a good idea, then we know that we need to take a break from gambling.

Yes, I agree with you that a break in gambling is an extremely necessary thing, first of all, if you have lost, then you need to calmly comprehend everything, for example, for me at the moment the limit of the amount is my weekly reward for signature.

[inanilujimi]

My strategy is not to exceed the loss threshold in gambling by making a maximum deposit of 20% of my savings to enjoy the game, and when the balance runs out I must stop so it doesn't have a big impact on my finances.

[Mahanton]

My strategy is not to exceed the loss threshold in gambling by making a maximum deposit of 20% of my savings to enjoy the game, and when the balance runs out I must stop so it doesn't have a big impact on my finances.

20% of savings is already big imho but well its your money then you do have the full rights on what it should be since we do have out own personal threshold when it comes to losses
since not all would really be similar into financial status or condition on each individual  which simply means that it would really be varying.The most important thing is that you do
make your limitations when it comes to gambling spending or losses so that you wont be finding yourself having financial problems later on.Always set limits and do go beyond
on it because it would really be putting you into hardship and consequences that you havent experienced on your entire life.

[LUCKMCFLY]

I just look at my bet history after few bets and also keep an eye on the wallet balance, if it reaches below 50% of my initial amount I had at the start then its the time to break, that is what I actually do while playing dice, slots or any other casino game and about sport betting just go with minimum amount with no expectations on rare occasion just to check my instinct is right or not.

You do well, but not all of them can be like you who in gambling can easily control financial conditions. In my opinion, people only play with their limits who are able to lose but on the other hand, people who bet and have more money, actually use it very irregularly.

When I look at my history it is somewhat sad because my balance is more losses than gains, and the gains do not cover the losses, which would be a decent thing, but to avoid more hedge, when it comes to slots I have another strategy, just enjoy, and when it is about other games or sports betting there if I change my way of thinking, because it is something that can be taken into account the degree of knowledge and experience when betting, everything is no longer so random or random, this it is something that can be done more, I see it as a trade, which is much more likely to be done for a win.

My strategy is not to exceed the loss threshold in gambling by making a maximum deposit of 20% of my savings to enjoy the game, and when the balance runs out I must stop so it doesn't have a big impact on my finances.

Your strategy is good, but you should also diversify your games, not have everything in a single game, but do something else from there, that is, if you are a person who really likes to play poker, video poker, you should play something else , or try your luck with other games, maybe vz DICE, or maybe you could try Black Jack, but they are games that could be violent in giving losses and/or profits, so it depends on the player how much he is willing to lose, too If you don't want to think too much and leave all your luck, you can make bets with the extra coins and make the minimum bet, and as soon as you win, you can stop or continue depending on the budget.

[molsewid]

My strategy is not to exceed the loss threshold in gambling by making a maximum deposit of 20% of my savings to enjoy the game, and when the balance runs out I must stop so it doesn't have a big impact on my finances.

Honestly, this one is good a advice a very good one. We should learn to manage everything so that we can have a peace of mind. At first, it is very hard to have this discipline but it can save us from being wreck and in debt. In my own perspective, I am saving the 30% of my salary, 30% for recreational activities and other things I needed to buy and then 40% will be for my family expenses, playing gambling is also included in that 30% so that when I reach that amount even though I am winning but I already used all to bet again, I will stop right away.

[alegotardo]

Gambling is fun. And it doesn't matter whether you go to a land-based casino to bet or an online casino. When we bet, we celebrate our wins and count our losses. According to this study, the researchers found that gamblers are satisfied with small wins and will tolerate small losses but when they hit the threshold of loss, they will not play anymore.  I will attempt to define threshold of loss as regards gambling as the minimum intensity at which a gambler can no longer tolerate a loss.

My question is, can you remember a time when you reached your threshold of loss while gambling?

Look, I have to disagree with you only on the part where you say that players tend to stop playing when they reach their loss limit, I believe that many players unfortunately tend to bet more and more as they lose in order to try to cover their losses.
But yes... for those who know how to determine their limits, the game is always fun, as much as defeat always accompanies us, we need to see it as a necessary evil to obtain the moments of pleasure when winning a good bet.

I can't remember the last time I had a big loss, I currently only play sports betting and very casual bets.