Threshold of Loss in Gambling

[DoublerHunter]

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.

^ Definitely right, we should have to manage our fund and it should be there is a fixed amount that we wanted to gamble, if you say 20% of your saving is on gambling, it should be that amount and there is nothing extension. Dont continue to gamble beyond your limit, it should be a fixed amount.
The only way that this will happen is to have the self-discipline to control your urge in gambling so that you can manage your fund.
If all gamblers have the same mindset like this, there are no gambling addicts anymore, it seems gambling will exist just for fun, nothing else.

[TimeTeller]

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.

^ Definitely right, we should have to manage our fund and it should be there is a fixed amount that we wanted to gamble, if you say 20% of your saving is on gambling, it should be that amount and there is nothing extension. Dont continue to gamble beyond your limit, it should be a fixed amount.
The only way that this will happen is to have the self-discipline to control your urge in gambling so that you can manage your fund.
If all gamblers have the same mindset like this, there are no gambling addicts anymore, it seems gambling will exist just for fun, nothing else.

But unfortunately not, a lot of gamblers are being addicted into this for so many reasons.
Lucky for you if you know how to handle yourself and put some limits by your own accord.
But if not, being addicted into this game will give you a lot of trouble, not only financially, even emotionally.
Also, not on yourself but also with your loved ones or other people surrounding you.

[agustina2]

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.

Yes, this is always the case that happened to the majority of gamblers.

Setting up a budget doesn't really work since they are just tempting themselves to gamble more.

If they win, they will still continue to gamble since they are lucky. If they lose, they will still continue to gamble to recover their recent losses. Whatever the result of their gambling session, regardless of the situation, whether they winning or losing, they will still continue to gamble as their adrenaline tells them to do so.

Setting up a budget per session is not an effective way to minimize loss. It's better to force ourselves to have self-discipline when to stop.

[carlisle1]

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.

Yes, this is always the case that happened to the majority of gamblers.

Setting up a budget doesn't really work since they are just tempting themselves to gamble more.

If they win, they will still continue to gamble since they are lucky. If they lose, they will still continue to gamble to recover their recent losses. Whatever the result of their gambling session, regardless of the situation, whether they winning or losing, they will still continue to gamble as their adrenaline tells them to do so.

Setting up a budget per session is not an effective way to minimize loss. It's better to force ourselves to have self-discipline when to stop.

Enforcing yourself with self-discipline is very important, just ow you describe both scenarios either win or lose the adrenaline still

active inside a gambler mind, without good discipline you are unable to quit and stop your sessions, unlike with discipline you can

quit and continue to enjoy, either you win or you lose the enjoyment inside you will stay.

[rahmad2nd]

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.

Yes, this is always the case that happened to the majority of gamblers.

Setting up a budget doesn't really work since they are just tempting themselves to gamble more.

If they win, they will still continue to gamble since they are lucky. If they lose, they will still continue to gamble to recover their recent losses. Whatever the result of their gambling session, regardless of the situation, whether they winning or losing, they will still continue to gamble as their adrenaline tells them to do so.

Setting up a budget per session is not an effective way to minimize loss. It's better to force ourselves to have self-discipline when to stop.

Overall what you are saying is a common thing for many gamblers, most of the gamblers will do the same habit as you said. 

I think the real problem is how to limit ourselves, sometimes we don't really know when is the right time to stop playing, especially when we are getting consecutive wins, and vice versa.
sometimes we often forget and get carried away in every game regardless of winning or losing, I think it is not appropriate if discipline can prevent or limit each game session, I prefer to involve self-awareness and responsibility in gambling activities.

[Betwrong]

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

That's a huge part of savings for someone supporting their family, but the word "savings" is what caught my attention here, see, not "earnings", but "savings". I think it means the guy is living with his parents, saving little by little from what he's getting for small expenses. I may be wrong of course, but then the guy should probably reconsider his budgeting. Spending 20% on gambling is unacceptably a lot.

[michellee]

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

That's a huge part of savings for someone supporting their family, but the word "savings" is what caught my attention here, see, not "earnings", but "savings". I think it means the guy is living with his parents, saving little by little from what he's getting for small expenses. I may be wrong of course, but then the guy should probably reconsider his budgeting. Spending 20% on gambling is unacceptably a lot.

It could be the situation that he still lives with his parents and saves little by little. But I think if depositing as much as 20% of his savings just to enjoy gambling, I don't think it's wise because he can forget to control how much he spends. A total of 20% of the savings is for one-time use or several times playing gambling would not be recommended to use that amount for gambling.

[Webetcoins]

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

That's a huge part of savings for someone supporting their family, but the word "savings" is what caught my attention here, see, not "earnings", but "savings". I think it means the guy is living with his parents, saving little by little from what he's getting for small expenses. I may be wrong of course, but then the guy should probably reconsider his budgeting. Spending 20% on gambling is unacceptably a lot.

For me, 20 percent isn't that much but what only bothers me is that he used his savings there. If he don't have other sources to get a money then he better not gamble because that will only add up on his expense and if his goal is to earn money then it's also not guaranteed.

Better if he look for a job first and that is the one he should used, not his savings because savings has its own use case, mostly for the future e.g. when we retire or if we want to give our kids a better future. It's not also good to depend on our parents because our parents might be old already but we are the ones that must work and we must return what they have done for us once we are still a kid.

[LUCKMCFLY]

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.

In my beginnings when I went to a physical casino, it was when I was in college and I became so obsessed that I broke one of my golden rules, and it was that I should not spend more than what I had already arranged, and it was so incredible, I had left a part of my money at home, and the casino was more or less two hours away, and when I went with the money I had available I lost it, but it got into my head so much that I could win, that I went back to my house, I took the money that I had saved and I left and I lost it in the same way. Obviously luck was not on my side and it made me lose more than the money I had, the good thing is that I got the great teaching that when you lose, you must assume the loss and not seek revenge.

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

That's a huge part of savings for someone supporting their family, but the word "savings" is what caught my attention here, see, not "earnings", but "savings". I think it means the guy is living with his parents, saving little by little from what he's getting for small expenses. I may be wrong of course, but then the guy should probably reconsider his budgeting. Spending 20% on gambling is unacceptably a lot.

For me, 20 percent isn't that much but what only bothers me is that he used his savings there. If he don't have other sources to get a money then he better not gamble because that will only add up on his expense and if his goal is to earn money then it's also not guaranteed.

Better if he look for a job first and that is the one he should used, not his savings because savings has its own use case, mostly for the future e.g. when we retire or if we want to give our kids a better future. It's not also good to depend on our parents because our parents might be old already but we are the ones that must work and we must return what they have done for us once we are still a kid.

For me, 20% of the savings is a lot, I would really divide it into 10% for gambling where I would only bet 5% and leave 3% totally willing to lose, and the other 10% I would leave to trade, that would be my way of doing it, I would not leave all 20% to one thing, that would be my way of diversifying the money, I would not leave it all to one thing.

Of course, when we talk about how to divide our money, each person has their own way of doing it, but it is never good to leave all the money to gambling, because it is very likely that it can be lost.

[serjent05]

That's a huge part of savings for someone supporting their family, but the word "savings" is what caught my attention here, see, not "earnings", but "savings". I think it means the guy is living with his parents, saving little by little from what he's getting for small expenses. I may be wrong of course, but then the guy should probably reconsider his budgeting. Spending 20% on gambling is unacceptably a lot.

For me, 20 percent isn't that much but what only bothers me is that he used his savings there. If he don't have other sources to get a money then he better not gamble because that will only add up on his expense and if his goal is to earn money then it's also not guaranteed.

Better if he look for a job first and that is the one he should used, not his savings because savings has its own use case, mostly for the future e.g. when we retire or if we want to give our kids a better future. It's not also good to depend on our parents because our parents might be old already but we are the ones that must work and we must return what they have done for us once we are still a kid.

Same here 20% isn't that much. Let us say my weekly savings is around 50$ so that makes $10 an allocation for gambling.  In a month's time, I would have $200  savings and $40 of those would be allocated to gambling. $40 a month for gambling is a small amount in my opinion.  Other players gamble more than that in a week.

[Betwrong]

~

It could be the situation that he still lives with his parents and saves little by little. But I think if depositing as much as 20% of his savings just to enjoy gambling, I don't think it's wise because he can forget to control how much he spends. A total of 20% of the savings is for one-time use or several times playing gambling would not be recommended to use that amount for gambling.

The percentage is calculated this way: If you earn $100 per day, then spending $20 per day on gambling means you spend 20% on gambling.  If you spend $20 per week, that's not 20% of your earnings/savings. That's around 3% which is acceptable.

That's a huge part of savings for someone supporting their family, but the word "savings" is what caught my attention here, see, not "earnings", but "savings". I think it means the guy is living with his parents, saving little by little from what he's getting for small expenses. I may be wrong of course, but then the guy should probably reconsider his budgeting. Spending 20% on gambling is unacceptably a lot.

For me, 20 percent isn't that much ~

Same here 20% isn't that much. Let us say my weekly savings is around 50$ so that makes $10 an allocation for gambling.  In a month's time, I would have $200  savings and $40 of those would be allocated to gambling. $40 a month for gambling is a small amount in my opinion.  Other players gamble more than that in a week.

If by "savings" you mean the money allocated for entertainment, I agree with you, 20% isn't that much. But that's only if we are talking about spare money.

[Ararbermas]

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

Oh yes but i dont play very often, wherein just want to try gambling and to make profits if it will work on me.  . But unfortunately its good only at the beginning and i realised it because afterwards most of my history are negative and since then it's too hard to win again.. Sometimes if there's a luck i cab get small return but the losses seems not good so i decided to stop it. Lol

[Wakate]

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

Oh yes but i dont play very often, wherein just want to try gambling and to make profits if it will work on me.  . But unfortunately its good only at the beginning and i realised it because afterwards most of my history are negative and since then it's too hard to win again.. Sometimes if there's a luck i cab get small return but the losses seems not good so i decided to stop it. Lol

You need to try playing to test your lucky and how far you can go or win. It is for those who are gambling frequently that we need know there threshold. I have reached threshold many times that had made to give a break on gambling on one time or the other. This alone can make a gambling very stressed out limiting the way they gamble based on the loses they had incurred. We all wanna make money in gambling not to make loses that will make us overthink or quit the way we bets.

[Slow death]

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

Oh yes but i dont play very often, wherein just want to try gambling and to make profits if it will work on me.  . But unfortunately its good only at the beginning and i realised it because afterwards most of my history are negative and since then it's too hard to win again.. Sometimes if there's a luck i cab get small return but the losses seems not good so i decided to stop it. Lol

in the case of your scenario you need to stop and think:

1 - are you sure you are playing a game that you master in terms of knowledge?

2 - How much information do you get every day about this game you are playing?

3 - in case you lose, what is the strategy you can develop to minimize losses?

4 - Does this game you play have value? when do you win make up for the losses?

you have to look at all these points, and then you will see how many times you are putting in more money and losing, to get better

That's a huge part of savings for someone supporting their family, but the word "savings" is what caught my attention here, see, not "earnings", but "savings". I think it means the guy is living with his parents, saving little by little from what he's getting for small expenses. I may be wrong of course, but then the guy should probably reconsider his budgeting. Spending 20% on gambling is unacceptably a lot.

For me, 20 percent isn't that much but what only bothers me is that he used his savings there. If he don't have other sources to get a money then he better not gamble because that will only add up on his expense and if his goal is to earn money then it's also not guaranteed.

Better if he look for a job first and that is the one he should used, not his savings because savings has its own use case, mostly for the future e.g. when we retire or if we want to give our kids a better future. It's not also good to depend on our parents because our parents might be old already but we are the ones that must work and we must return what they have done for us once we are still a kid.

Same here 20% isn't that much. Let us say my weekly savings is around 50$ so that makes $10 an allocation for gambling.  In a month's time, I would have $200  savings and $40 of those would be allocated to gambling. $40 a month for gambling is a small amount in my opinion.  Other players gamble more than that in a week.

in fact most players play with more than 10$ a day, why do I think so? because I see that most people receive bonuses more than 50$ which shows that they play a lot and with values above 100$, if they are making a profit or not I don't know, but I suppose most people are playing with high amounts Of money

[Google+]

Enforcing yourself with self-discipline is very important, just ow you describe both scenarios either win or lose the adrenaline still

active inside a gambler mind, without good discipline you are unable to quit and stop your sessions, unlike with discipline you can

quit and continue to enjoy, either you win or you lose the enjoyment inside you will stay.

Gambling defeats often affect our side of the mind in the sense of anxiety or regret. I even feel that this is a big obstacle for me when I lose playing online gambling where various thoughts can arise to make a deposit and bet to be able to withdraw the initial loss but the big fact in the end always ends in defeat. so this conclusion is a factor of anxiety that keeps our minds when we play gambling so that the desire for control cannot be controlled centrally to play gambling. In this context I agree with the point you conveyed where we must be able to apply the discipline side in gambling and also not have a mind burden.

[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.

In my beginnings when I went to a physical casino, it was when I was in college and I became so obsessed that I broke one of my golden rules, and it was that I should not spend more than what I had already arranged, and it was so incredible, I had left a part of my money at home, and the casino was more or less two hours away, and when I went with the money I had available I lost it, but it got into my head so much that I could win, that I went back to my house, I took the money that I had saved and I left and I lost it in the same way. Obviously luck was not on my side and it made me lose more than the money I had, the good thing is that I got the great teaching that when you lose, you must assume the loss and not seek revenge.

You have already gained valuable experience from playing in physical casinos. It is a mistake you should never repeat wherever you gamble, whether in a physical or online casino. If previously you could take care of your money and always control your emotions, I don't think you would lose all the money. But I guess it's natural for us to lose money in casinos because that's already happened to many gamblers. In addition, those of us who play gambling at online casinos or physical casinos will feel the challenge to continue the game. If you can't take care of yourself, you will only experience defeat again.

[chaser15]

Since what the majority agreed with that setting up a budget for gambling or setting a threshold of loss is not working, we should not give this is an advice for newbies. That will not really help them to minimize their gambling activity since there's always a temptation to chase the losses after hitting the supposed threshold. I also don't have that mindset even before I'm starting gambling since I don't see how it can be a big help to solve my gambling habit.

What I did is to just go with the flow. If I feel lucky, then go. Once loses, then stop. If I feel having a bad luck, then it will create an automatic action from me to stop since nothing good is happening and it's just a waste of money and time if I continue.

But not all person is having a mindset like that. On the other hand, it's good that these people will suffer big loses as sometimes, that painful loss experience will teach them how to become a better gambler in the future.

[pawanjain]

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.

Well, if you are using a part of your 30% savings for gambling then it is still better but as @inanilujimi mentioned that he is depositing a maximum of 20% of his savings then I think that's bad.
20% of savings is a big deal. For an middle class person 20% savings will buy him food for the entire month for his family.
Again, that depends on person to person but for me I would never gamble more than 10% of my savings.
So that's my threshold limit in gambling.

[carlisle1]

Enforcing yourself with self-discipline is very important, just ow you describe both scenarios either win or lose the adrenaline still

active inside a gambler mind, without good discipline you are unable to quit and stop your sessions, unlike with discipline you can

quit and continue to enjoy, either you win or you lose the enjoyment inside you will stay.

Gambling defeats often affect our side of the mind in the sense of anxiety or regret. I even feel that this is a big obstacle for me when I lose playing online gambling where various thoughts can arise to make a deposit and bet to be able to withdraw the initial loss but the big fact in the end always ends in defeat. so this conclusion is a factor of anxiety that keeps our minds when we play gambling so that the desire for control cannot be controlled centrally to play gambling. In this context I agree with the point you conveyed where we must be able to apply the discipline side in gambling and also not have a mind burden.

regrets keep haunting us that's for real and without discipline you will can't easily forget the things that happen to your gambling session

it will keeps lingering inside your mind thinking of many what if and worse you will keep repeating that same mistake thinking that in your

next session you'll find the right strategy that will allow you to recover your losses. Discipline is something that will allow you to let go

and forget what happened, just move forward and enjoy.

[salad daging]

Well, if you are using a part of your 30% savings for gambling then it is still better but as @inanilujimi mentioned that he is depositing a maximum of 20% of his savings then I think that's bad.
20% of savings is a big deal. For an middle class person 20% savings will buy him food for the entire month for his family.
Again, that depends on person to person but for me I would never gamble more than 10% of my savings.
So that's my threshold limit in gambling.

Everyone gets different monthly income, so to allocate tens of percent for gambling, I think they have arranged for other things so that 30% is enough for them, some say this is big, so it really depends on them to allocate it.
I myself am not really sure what percentage for gambling sometimes I don't count it but I don't want to get stuck so for gambling games I think about whether other needs have been met if the remaining money can be used to enjoy gambling.
Gambling thresholds must be applied otherwise we will have an excess of what is used in gambling because it is not felt if there is no threshold.