How much are you willing to gamble

[South Park]

I have seen various topics discussed in here about their bankrolls or budget and whatnot when gambling. Well a French national just wagered $30 million to a bet about the US election. Now the online platform is being reviewed by France and is being checked if they follow laws accordingly. I am sure that amount shocked them especially after the gambler admitted that it was not even to sponsor Trump and that he did not have any political agenda with that bet. He did win and made profit but I was just so surprised with how can anyone bet this huge amount of money?

No matter how rich I get, I do not think I would be risking throwing away $30 million. I am also sure that the French authorities are making moves after this ridiculous amount of money betted to prevent encouraging their citizens from following in the gambler's footsteps. But I think instead of punishing the platform, the government should focus on how can they 'control' their citizens' gambling habits. Focusing on one platform will not eradicate people who would continue to bet this huge amount of money.

I do not really see how a government could stop this, because as long as the money came from legal sources, then the owner can do whatever they want with it, now it is obvious that if I had so much money I would not go out of my way to make such a huge bet, but at the same time, for those that followed the election, it seemed as if the chances of Trump getting elected were very high, so it is likely the bettor thought this was easy money and they ended up being right about it.

[Betwrong]

~ No matter how rich I get, I do not think I would be risking throwing away $30 million. I am also sure that the French authorities are making moves after this ridiculous amount of money betted to prevent encouraging their citizens from following in the gambler's footsteps. But I think instead of punishing the platform, the government should focus on how can they 'control' their citizens' gambling habits. Focusing on one platform will not eradicate people who would continue to bet this huge amount of money.

I think you can't know that for sure. If $30 million were less than 1% of your net worth and if there was a team that you eagerly wanted to bet on, you'd make that bet I'm sure as almost everyone here. And I'd make such a bet too. We have to wait until I get $3 billion to really check if I'm not just saying that, or wait  for you to have $3 billion in your possession to see if you will have denied to take that risk then.

[Jaycoinz]

Gambling limit is mostly based on preference, there are rich people that can't stake such an amount in a single bet but you must understand that being rich isn't only about having money in your Bank Account but having something that generates money for you constantly. That's why someone can easily stake 30 thousand dollars without going broke after he loses because he has something that can fetch that money back within a specific period of time. This is the idea most people don't have ,before staking a huge amount you must ask yourself if you have a means if getting that money back Incase you lose the bet.

[len01]

As a sane gambler (a gambler who only uses 1%-10% of his income to gamble), he certainly would not do that and would rather think about how to use the money to build a profitable business with lower risk.
Even if I had that much money, I would rather build my own gambling business than bet large amounts on other gambling.

IMO, someone who is very rich will not feel a loss if he has to risk that much money. Because he has an income that is greater than the money he spends or even the money is only 10% of his income.
For us, that is a large amount but for the owner of the money it is only a small amount of money.

And regarding punishing online gambling sites, actually that is not a wise thing. Because gambling does not have any mistakes but should actually provide education to gamble with a more reasonable amount.

[Akbarkoe]

It all depends on each person's preferences and financial capabilities. A hundred dollars that I deposit into a casino to gamble or place a bet, may be a large amount for those who usually gamble with fifty dollars or less, or maybe a hundred dollars will be much smaller for those who usually gamble with larger amounts that can spend up to thousands or even millions of dollars in each gambling session.

But my view on gambling, it's just about luck, about something that we don't necessarily get. And it would be very stupid if we spend a lot of money on something that we don't necessarily get. Moreover, when we gamble with a large amount of money, more than we can afford to lose. Then this will only lead us to an uncontrollable situation and experience more losses. and a hundred dollars is the amount of money I am ready to lose every week in gambling, because it is only a few percent of my total income.

[Zwei]

as others have said, excluding degenerates since they have no limits and would gamble every last cent they have.
it largely depends on each person income, their self control, and how much they can afford to lose.

but a $30 million bet, sheeeeesh.

The question is how much money this man has, maybe $30 million is only part of his money, the part that he can risk and lose... in any case, an incredibly high bet, it takes courage to do something like this.

one thing for sure, he is hella loaded, with a $30 million bet he must have at least $200 million to his name
no sane person would risk this much on a bet, even if they are rich rich.

[Orpichukwu]

No matter how rich I get, I do not think I would be risking throwing away $30 million. I am also sure that the French authorities are making moves after this ridiculous amount of money betted to prevent encouraging their citizens from following in the gambler's footsteps. But I think instead of punishing the platform, the government should focus on how can they 'control' their citizens' gambling habits. Focusing on one platform will not eradicate people who would continue to bet this huge amount of money.

There’re things I used to say that no matter how weather I turn out to be today, I will never spend so much on them, but right now I don’t keep to those words. There is some level of wealth that you will have today where that amount will mean nothing to you compared to what you have; you won’t even be having this same mindset. That amount is probably considered a little amount to the gambler, which is why he was able to wager it without having a second thought.
 
As for me, I don’t think I can risk gambling with any amount that’s above 1-5% of my monthly income, as I can’t afford to lose it.

[retreat]

Discussing how much someone is willing to gamble their money on gambling can vary, for example there are those who earn 1000 USD but they are ready to gamble 20% of it, there are those who only earn 100 USD but they gamble 50% of it, and many other things. So it may vary. But I myself am not so high in setting how much money I am ready to gamble, because again I hold on to the principle that only gamble money that you are ready to lose, if you can't afford to lose the money you gamble, then there is no need to gamble. And setting the allocation of funds for gambling at 5-15% of income should not be too much of a problem, more than that perhaps a gambler should consider it carefully.

[Mate2237]

This question should be a rhetorical question because I can't disclose my gambling budget here and it is not even regular because there are times I increase the budget while sometimes I decreased the budget and all depends on the amount came to my pocket at the time. Apart from monthly salary from my work, there are times I also get allowance which also increase my gambling budget too.

Human life is not equal therefore gambling budget LS and amount are also not equal.

[Wakate]

This question should be a rhetorical question because I can't disclose my gambling budget here and it is not even regular because there are times I increase the budget while sometimes I decreased the budget and all depends on the amount came to my pocket at the time. Apart from monthly salary from my work, there are times I also get allowance which also increase my gambling budget too.

Human life is not equal therefore gambling budget LS and amount are also not equal.

No matter the kind of gambler that we are, it is good we have a budget but this should not be always because there are sometimes when we can decide to gamble based on how we feel without following any budget at all which can aid one's luck. Gambling should just always been strict, sometimes we need to be flexible and make decisions on how we feel so that we don't hurt ourselves or feel guilty for little loses. I am always ready to risk what I know I can afford without being greedy or trying to win more because of other people's bet. This should be a self decision and not allow anyone to decide how much we are going to risk because if the game eventually became bad, one has to bear to loses.

[alastantiger]

Gambling limit is mostly based on preference, there are rich people that can't stake such an amount in a single bet but you must understand that being rich isn't only about having money in your Bank Account but having something that generates money for you constantly. That's why someone can easily stake 30 thousand dollars without going broke after he loses because he has something that can fetch that money back within a specific period of time. This is the idea most people don't have ,before staking a huge amount you must ask yourself if you have a means if getting that money back Incase you lose the bet.

Rich people wouldn't bet that amount without having a steady stream of income that can generate that momey back in a month or few months time. The rich are very strict with their money, they don't let their money go to waste unless they're mentally disabled or having a problem with gambling. Anybody that's willing to lose that amount has to have other sources of income that fetches him more than he was willing to lose. I can't use more than 10% of my income to gamble despite making more than I'm staking. For investment I don't mind using all the money that I have on me for investing because that is an investment and not a leisure that I get from gambling. I only use the percentage that I only keep for entertaining myself for gambling and having other fun. Gambling shouldn't be done without caution because of the disadvantages of gambling that affects most addicted victims.

[jossiel]

First thing that the authorities will think about such huge bets is about the involvement of the bettor into money laundering. This is a common knowledge that the authorities will be looking at fault finding as they verify the platform and the bettor.

I wouldn't even bet with that amount even if I am a billionaire, I cannot throw that much money in gambling. Maybe a few grand will do but not to that point of my life.

Well, that guy only shows what kind of gambler he is, one of the goats in the making.

[Odusko]

No matter how rich I get, I do not think I would be risking throwing away $30 million. I am also sure that the French authorities are making moves after this ridiculous amount of money betted to prevent encouraging their citizens from following in the gambler's footsteps.

This is just too much of a bet, I wonder why people keep doing more than themselves and when you don't meet up using that same huge sum, what then would you do? Knowing all of this criteria of what and when not to gamble you can put deaf ears and still go on with your decisions, I bet you the beginning it's usually sweet but the end will definitely justify everything. Even if you have the whole money in the entire universe you should really have a budget and know how to spend your money especially on gambling.

We can't say for a truth wether the gambler gambled more than themselves, because we can only speak based on our experience but we can't say about other's, I hard someone staked around $30 million dollars on Trump winning the election, so can we say that such a gambler if he hard lost gambled more than his self?

I think the answer will be no since he have set his priorities before he staked that bet and regardless if he lost or win, he will be ok.

He may reside in France and have so much faith in the Trump winning ticket, so regardless where his current location may be, he will risk whatever he have access to as cash as long as he have this level of confidence in the bet.

[Miles2006]

No matter how rich I get, I do not think I would be risking throwing away $30 million. I am also sure that the French authorities are making moves after this ridiculous amount of money betted to prevent encouraging their citizens from following in the gambler's footsteps. But I think instead of punishing the platform, the government should focus on how can they 'control' their citizens' gambling habits. Focusing on one platform will not eradicate people who would continue to bet this huge amount of money.

Funny enough they’re not just doing this to protect other gamblers from gambling carelessly besides where can they get such huge amount rather they’re investigating how he got those money IMO. Although every country with their different policy and I’m sure if this practice is being carried out and authorities are informed they might focus more on the wealth. I also will not risk that amount gambling against political elections including sport games, it’s obvious he had the courage and confidence Trump will win secondly he’s wealthy. Losing such amount will definitely affect him regardless maybe he wanted to prove a point just curious to know why anyone will bet carelessly. Authorities will gain nothing going for the casino rather this practice will not stop for the fact wealthy gamblers love taking risk.

[uneng]

No matter how rich I get, I do not think I would be risking throwing away $30 million. I am also sure that the French authorities are making moves after this ridiculous amount of money betted to prevent encouraging their citizens from following in the gambler's footsteps. But I think instead of punishing the platform, the government should focus on how can they 'control' their citizens' gambling habits. Focusing on one platform will not eradicate people who would continue to bet this huge amount of money.

I also wouldn't risk such amount of money gambling, but it is due to the fact I'm not a millionaire. If I were, probably I would have a different view on this matter, especially if I were pretty sure of an event happening for real, like the outcome of USA election. We have to take into consideration that 30$ million for people in power positions is nothing compared to their yearly income and patrimony, what means it's money they can afford to lose.

The government can't forbid people from spending their money as they wish. Instead of doing that, the government could educate their citizens about the risks involved in gambling besides enlighting them about the mathematics behind it, which favour always favour the house on long term. Prohibitions don't work in effective ways, as we have been seeing along the years regards different matters, such as alcohol, drugs and gambling.

If you manage to convince the individual he doesn't have to become an addicted to endure the harsh reality it's much more effective than forbidding him from becoming an addicted (what doesn't work in the end).

[AmoreJaz]

First thing that the authorities will think about such huge bets is about the involvement of the bettor into money laundering. This is a common knowledge that the authorities will be looking at fault finding as they verify the platform and the bettor.

I wouldn't even bet with that amount even if I am a billionaire, I cannot throw that much money in gambling. Maybe a few grand will do but not to that point of my life.

Well, that guy only shows what kind of gambler he is, one of the goats in the making.

That is true, even if we don't know the reasoning behind such large amount of bet, one thing that you will think of is it can be related to money laundering. We can't eradicate such thought on this. Now, it depends on the person about his motives why he is splurging good amount of money on this.
They have their own goals and for sure, would be different than yours. There's no need to chase what they have because they have the money to support their habit. Be contented how much you can afford to bet.

[Hispo]

...But I think instead of punishing the platform, the government should focus on how can they 'control' their citizens' gambling habits. Focusing on one platform will not eradicate people who would continue to bet this huge amount of money.

And how is the government of a country supposed to "control" those citizens who may be fond of gambling their own hard-earned money?
While I get a government like a country like France could get worried about people betting because someone got viral by betting on a presidential candidate, in the end of the day each one of us is supposed to have complete control on what we do with our own capital and savings.
It would not be right for any government to get intrusive on what people do or stop to do with their money, instead, they should put that same energy on educating the people of their country to understand how risk actually works and the way casinos make money from bets and casino games, but not through gambling restrictions.

Sure, it is impressive someone could be willing to throw away 30 million on a bet, but we need to also assume that person would do okey if he loses that money. It is a life changing amount in the eyes of most world population, but it does not have to be that way when the bettor is among the 1% person of the world population controling most of the capital. If anything, that wager just highlights the huge disparity currently present in most of the countries, specially developing ones.

[Coyster]

TBH, i am not willing to gamble too much, i do not gamble more than i can afford to lose. I don't know how much the person in OP's story has, but gambling with that amount of money is quite high and risky IMO, irrespective of how much he has. Having said that, some people are addicts and they don't mind gambling with almost all of the money they have, though such people hardly have so much money due to how they live their life.

[LDL]

This question should be a rhetorical question because I can't disclose my gambling budget here and it is not even regular because there are times I increase the budget while sometimes I decreased the budget and all depends on the amount came to my pocket at the time. Apart from monthly salary from my work, there are times I also get allowance which also increase my gambling budget too.

Human life is not equal therefore gambling budget LS and amount are also not equal.

In fact, depending on the gambling budget, how much can one become addicted to gambling, that is, when the budget is over, no one will unnecessarily sell their house and car and bet on gambling. Most people participate in gambling within their budget and when the budget is over they don't refill but wait for the next month where they can add some budgeted gambling balance from the new month's salary. However, there are some gamblers who don't care about the budget, but even if they take out a loan or borrow money, they will continue to gamble and it doesn't take long for them to go bankrupt.

[Hirose UK]

Is there policy of country that interferes with its citizens when making large bets, I think that when someone bets in large amounts then it is money that has been prepared to be lost and when it is clear that there is no involvement with politics then it is legitimate bet.
Personally, if I had more money I might also bet in large amounts, but because my financial condition is inadequate I have to bet according to my ability in smaller amounts, after all everyone has their own rights in using money in gambling.