This is not Practical

[madnessteat]

~snip~

The first thing you need to understand is that gambling is an entertainment that is impossible for a person who has no money.

The second is that in the long run the probability of losing is slightly higher than the probability of winning, because the casino has an advantage over the gambler.

The third is that it is foolish to risk borrowed money or money that is intended for important purposes.

Even from these three points can be understood that gambling should be played only with money that you are not sorry to lose. 

[abel1337]

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

It will depend on the gambler on how they handle their finance. There are different ways to budget your money and there are people like me who has a budget for entertainment. My entertainment budget includes my gambling funds and other expenses that is on the scope of entertainment. There are gamblers who don't really do budgetting and they are the one who typically includes the money for their needs on their gambling money. If you are a gambler, budgeting is a necessary thing to do and following it should be strictly made.

[Eureka_07]

<snip>

Try going back and analyze the definition of theoretical and practical. You should realize, that phrase is practical. It is not theoretical since that concept does not deal with hypothesis of anything related to that. I don't even know why we are need to discuss this thing. Lol.
Answering your question, yes, now I only play using the money I afford to lose. How 'bout you?

[wheelz1200]

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

I think you are looking past the actual saying and what people talk about.  There is certainly a portion of everyone's money that would negatively affect their lives if they lost it, that's what they are talking about.  If I lost $10 in a certain week it wouldn't change my bills situation, money for gas, food , etc.  If I lost $10k in a certain week that would impact my life greatly.  So what it means is, money that wouldn't move the needle if you lost it.

[Fortify]

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

Your theory totally ignores that many people have slack or spare capacity in their salary Vs outgoings. If someone earns $3k per month, but only needs $1.5k to cover expenses, then that free cash flow can be spent on anything - whether it's entertainment, investing, buying something for their hobby, or whatever they like. It is not for you to judge how they spend their money, because some people will call a hobbie a waste of money but even if they gave the spare money to charity - they earned it and are free to spend it however they like. What you said only applies if they have zero spare cash available after bills.

[dezoel]

Actually, it's true that no money that is earned after working hard is extra or is affordable to be lost, but when we have different expenses and activities that require money, we set a budget for each one of these things and we use them accordingly, now the money that one can afford to lose in gambling is basically the budget allocated for gambling or the extra money that remains after creating a budget for each expense for the month or the week.

Now though it's true that no one likes to lose money that they've earned in some way, even if it's being spent on something they like to do, it would still feel bad if they don't get anything out of it, I know gambling is fun and you get entertained from it but having some fun on the expense of losing money is not an easy thing to do.

[Weawant]

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

A more appropriate word to use is "spare money" for gambling, they're the same thing but when you use spare money it means they're money you have kept aside that isn't needed for anything important. You're not willing to throw away that money but if it happens, so be it.

Gambling money shoudn't be much so you can always keep aside few dollars that'll be use for gambling. This could be money you reserved for going out to have a drink with the boys. You can try to double that money with playing bets and if it happens you're lucky as you have more spare.

I always try to stay on budget when I gamble, I don't use money that wasn't intended to be used so yes I'm using my spare money but I won't say I'm willing to throw that money alway but if as a result of trying to gamble to receive more money I lose this one I won't be mad.

[ChiBitCTy]

Im not sure what part of the world you come from, but there are absolutely plenty of places on this planet where people are making enough money they there is extra money that can be spent that can be considered “money that one can afford to lose”.

So I have to say I completely disagree with your assessment OP.

[Quidat]

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

A more appropriate word to use is "spare money" for gambling, they're the same thing but when you use spare money it means they're money you have kept aside that isn't needed for anything important. You're not willing to throw away that money but if it happens, so be it.

Gambling money shoudn't be much so you can always keep aside few dollars that'll be use for gambling. This could be money you reserved for going out to have a drink with the boys. You can try to double that money with playing bets and if it happens you're lucky as you have more spare.

I always try to stay on budget when I gamble, I don't use money that wasn't intended to be used so yes I'm using my spare money but I won't say I'm willing to throw that money alway but if as a result of trying to gamble to receive more money I lose this one I won't be mad.

Always use the amount on which you can only afford to lose and % would definitely be depending on a certain individual because we do differently make up money or having that kind of income on which it would really be just normal that you would really be needing to be mindful on how much you do spend because if you cant really be able to monitor it out then you might potentially be ending up on
wasting and spending on the amounts  which arent supposed to be spent out on gambling or you do have other priorities on which all we do really have that. Dont go beyond into those limitation of
yours when it comes to this matter on which you are really that spending on the amount which arent supposed to be used on gambling or else you would really be regretting on what you have done.
Be mindful and be wary about on the actions you are making and not making yourself that dumb because you would really be able to tasted that extreme regret of decisions once things
have done or already happen and its better to avoid that much as possible.

[passwordnow]

Literally no one has money that they can afford to lose.

Gambling is an exception of it.

Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

Yes.
I'm thinking that it's gone already when I gamble. That's why the thinking that I've got is not pushing me to my disappointment when I lose. And that is because I've already accepted the fate of where my money will go. So, the approach will have to depend on myself as well and I am just enjoying every cent of it.

[rahmad2nd]

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

In fact, what we say is more of a reminder to fellow gamblers in the community. besides, we are in a community that tends to be actively involved on the betting board. so, there is nothing wrong if someone says that. in fact, I often read comments like that. no exception, I often say it myself. however, it does not mean that we will always be consistent and always disciplined in implementing such ideas. it's just that, ideally gamble with money that you can afford to lose, that way you won't experience losses that you regret later. and isn't this a positive thing for us gamblers.

Well, related to what you said. in fact, in practice it is not as easy as we say in this discussion. because after all, psychologically humans have emotions, every emotion has an important role when we are active, including during gambling sessions. You can apply ideas like this in your betting method. it's just that, it must be accompanied by an understanding of gambling itself and at the same time have responsibility. if, once in a while you do excessive things in your gambling. you have to remember, and return to the method you apply. concepts like this, will be very helpful even though in practice it is not as easy as we discussed.

[coin-investor]

<snip>

Try going back and analyze the definition of theoretical and practical. You should realize, that phrase is practical. It is not theoretical since that concept does not deal with hypothesis of anything related to that. I don't even know why we are need to discuss this thing. Lol.
Answering your question, yes, now I only play using the money I afford to lose. How 'bout you?

If OP holds a poll here the yes will be the dominant answer and the majority's choice because that should always be the case you cannot use your saving, or your budget to gamble, and money for gambling should be allocated and you should be ok whatever happens with money, not something that you will make out of it, even if treated as an opportunity cost its still money that you should be comfortable losing.
I would not even think of using money that's allocated for emergencies for gambling that's a big risk on my part and if I lose it that will have a big blow to my finances.

[AmoreJaz]

<snip>

Try going back and analyze the definition of theoretical and practical. You should realize, that phrase is practical. It is not theoretical since that concept does not deal with hypothesis of anything related to that. I don't even know why we are need to discuss this thing. Lol.
Answering your question, yes, now I only play using the money I afford to lose. How 'bout you?

If OP holds a poll here the yes will be the dominant answer and the majority's choice because that should always be the case you cannot use your saving, or your budget to gamble, and money for gambling should be allocated and you should be ok whatever happens with money, not something that you will make out of it, even if treated as an opportunity cost its still money that you should be comfortable losing.
I would not even think of using money that's allocated for emergencies for gambling that's a big risk on my part and if I lose it that will have a big blow to my finances.

this is quite simple. if you are using the money that you can afford to lose, it means, you can go on with your life even if you lost such money. so yeah, for now, i only play what i can afford to lose. more than what i allocated would give me difficulty in the coming days. and that amount varies from person to person, depending on his income and the spare money he has and what he feels is the right amount to spend on his gambling.

[Cookdata]

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

You misquote and misunderstood the concept of using the money you can afford to lose, the notion of that is to use the money you can forget easily and not the one that will affect you financially, psychologically, and emotionally. Just imagine that you have a school fee to pay a week before the closure and because you are financially down, you decide to use it to bet over 1.5 on any football match, and then, in the course of the match, they played under 1.5, that ticket is good as gone and your money is gone as well. For someone who is in need of money and there is a deadline for school fees, you will be worried and maybe running up and down looking for a possible solution to pay back the school fee, I hope this analogy and example will help you out.

[slapper]

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

A more appropriate word to use is "spare money" for gambling, they're the same thing but when you use spare money it means they're money you have kept aside that isn't needed for anything important. You're not willing to throw away that money but if it happens, so be it.

Gambling money shoudn't be much so you can always keep aside few dollars that'll be use for gambling. This could be money you reserved for going out to have a drink with the boys. You can try to double that money with playing bets and if it happens you're lucky as you have more spare.

I always try to stay on budget when I gamble, I don't use money that wasn't intended to be used so yes I'm using my spare money but I won't say I'm willing to throw that money alway but if as a result of trying to gamble to receive more money I lose this one I won't be mad.

Keep in mind, too, that the term "extra cash" may lull you into a false sense of security. Since these are not essential funds, perhaps you will feel less bad about losing them. Still, it's your own money, and it's not a good practice to regularly waste it

Setting a limit, adhering to it, and being ready to walk away when you've hit that limit is the key to gambling responsibly. It's fantastic that you have a gaming budget in place, but it's also important to take stock of your condition on a regular basis. Do you lose more money than you win as a result of your gambling habits? If that's the case, maybe you need to reconsider your approach

[Ryu_Ar1]

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

Instead of saying something like that, it would be better to say that there is a budget in advance for something like this.
Financial budgeting in planning to be done is not only about primary, secondary, unexpected needs, investment or savings but even expenses such as gambling will be better if there is budgeting in it.
Even if it is not big but if we really want to gamble every week or maybe every month I think this will be much better than having to say gambling when ready to lose.
Although that's not wrong either but like you said it's more theoretical and in the end it's like we have an excuse to keep depositing again and again because you're ready to lose it without calculating how much is spent on gambling.

[ralle14]

Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

Most of my deposits are amounts i'm willing to lose because gambling is always the least of my priority when it comes to spending money. And with the low minimums of most crypto casinos nowadays, it's easy to spend a couple of dollars as a budget for gambling. I agree that most of us don't prefer to lose our money within minutes of gambling, but like most of the posts mentioned there's always a portion of money that we're okay spending anywhere else.

[bitzizzix]

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

It all depends on the gambler and I consider gambling as a form of entertainment or it should be seen as a form of entertainment not as a way of making money and that is not sound advice. It's important to have realistic expectations and remember that you can't always win.
So I use the money I can afford to lose or the extra money after prioritizing what is important and for me to use for entertainment or pleasure. Like most people go to a bar, play pool or something to entertain themselves because spending a little money on what they think is fun has nothing to lose. And I consider gambling that way, after I'm tired of working for five days and only play on weekends, and that too if I want.

[Don Pedro Dinero]

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

Not everyone is as broke as you are, you know? When you have had your finances under control for years and you have savings and investments, you can spend some money on gambling just as you can spend it on dinner or drinks. It's not for a need, as you say, to spend it on a few drinks in a pub or gambling in a casino.

So yes, in my case I can afford to lose it. And I'm not the only one.

[topbitcoin]

I have heard the advice that you should only use money you can afford to lose for gambling. I say that this is more theoretical than practical. Literally no one has money that they can afford to lose. I feel that money for gambling is a matter of opportunity cost. You either use the money for gambling or use it to meet a need. If using money one can afford to lose were practical there will be no need for articles on having a gambling budget or bank roll management. Hey gamblers my question is to you now is, the money you currently plan to use for gambling is it money that you can afford to lose?

I think it's like you have a plan to travel or take a vacation somewhere and budget it not to use excessive money which can eat up a lot of your money, you also need to prepare your money planning and see how much money you can afford to spend/vacation for vacation .
Just like in gambling, I think it's the same, and the concept of using the money you can afford to lose is the result of your financial planning calculations for gambling and looking for fun there, you're free to talk about it to pay for the chance to win, but it has no meaning or meaning affecting the output of the same conclusion.

Until the day I gambled, I always used money that I was ready to lose, because I needed gambling as a place to entertain myself and there you need to manage your finances well, if you use money that you can't afford to lose then what will happen to you is that you feel sorry and want recover that loss.