Gambling + miminum wages in some countries

[freedomgo]

As long as it will help you to quit that early when you've won like $20 - $50 and that's a minimum wage you'll have to work in your country or if not, in other countries, that's a good reason for you to stop on that day.

The problem is he’s only talking about winning, but what about the sad part. If a gambler can easily stop after winning a certain amount, then he should also be able to stop after losing a fixed daily amount.

I think that’s where the real challenge is, accepting the loss. Especially if you base it on daily minimum wage and you lose that amount in one day, it really feels like all the effort was wasted just from gambling.

[AmoreJaz]

As long as it will help you to quit that early when you've won like $20 - $50 and that's a minimum wage you'll have to work in your country or if not, in other countries, that's a good reason for you to stop on that day.

The problem is he’s only talking about winning, but what about the sad part. If a gambler can easily stop after winning a certain amount, then he should also be able to stop after losing a fixed daily amount.

I think that’s where the real challenge is, accepting the loss. Especially if you base it on daily minimum wage and you lose that amount in one day, it really feels like all the effort was wasted just from gambling.

If you have that small amount of money, then, you need to re-think of your priorities. Because no one can take care of your own life but yourself. If you will put yourself in that tight financial position, it is you and your immediate family will suffer.

[masulum]

The problem is he’s only talking about winning, but what about the sad part. If a gambler can easily stop after winning a certain amount, then he should also be able to stop after losing a fixed daily amount.

I think that’s where the real challenge is, accepting the loss. Especially if you base it on daily minimum wage and you lose that amount in one day, it really feels like all the effort was wasted just from gambling.

it wouldn't easy for them to stop both after winning or losing. here in Indonesia, base on financial intelligence unit or called as PPATK, 80%⁽¹⁾ gambler from people who only have between $10-15 daily income. they make a small deposit to gamble even some of them also used 50% from their daily income. of course this is not good habit, and most of people around me (my villages) when get addicted, they will do anything and hard to stop till get more than $500 winning before to stop. not online gambling but mostly offline gambling such as billiard gambling, cockfighting or dice.

[1] https://www.ppatk.go.id/siaran_pers/read/1386/darurat-judi-online-cegah-dan-berantas.html#

[freedomgo]

The problem is he’s only talking about winning, but what about the sad part. If a gambler can easily stop after winning a certain amount, then he should also be able to stop after losing a fixed daily amount.

I think that’s where the real challenge is, accepting the loss. Especially if you base it on daily minimum wage and you lose that amount in one day, it really feels like all the effort was wasted just from gambling.

it wouldn't easy for them to stop both after winning or losing. here in Indonesia, base on financial intelligence unit or called as PPATK, 80%⁽¹⁾ gambler from people who only have between $10-15 daily income. they make a small deposit to gamble even some of them also used 50% from their daily income. of course this is not good habit, and most of people around me (my villages) when get addicted, they will do anything and hard to stop till get more than $500 winning before to stop. not online gambling but mostly offline gambling such as billiard gambling, cockfighting or dice.

[1] https://www.ppatk.go.id/siaran_pers/read/1386/darurat-judi-online-cegah-dan-berantas.html#

So how much do they actually start with if the goal is to win $500 before stopping?
If we base it on daily minimum wage, let’s say the max is around $15, that’s already more than 30x the capital.

Realistically, the chances are very slim. Most likely they’ll stop because they’re losing, not because they hit that target. That’s the reality a lot of people ignore because they only focus on the positive side.

[SUPERSAIAN]

In my country, the minimum wage is very low, I'd call it a third-world country. When you gamble, it's best to stop, you need to learn this, sometimes we have to learn by losing. Losing a good amount of money in gambling instead of using it to meet a few basic needs is really emotionally damaging, especially when you're already struggling financially. And you need to enjoy yourself with smaller amounts.

[masulum]

So how much do they actually start with if the goal is to win $500 before stopping?
If we base it on daily minimum wage, let’s say the max is around $15, that’s already more than 30x the capital.

Realistically, the chances are very slim. Most likely they’ll stop because they’re losing, not because they hit that target. That’s the reality a lot of people ignore because they only focus on the positive side.

if they are a worker they will take a loan, if they are a young man, they will ask their parent for additional money. whatever the way as far as can increase their betting. I know this from my nephew, he was a cockfighting gamble addict, when he losses he will asked more money to his parents. and he never stop before get more than $250, so before he have IDR 5millions, he will betting more in other day. I think you know what happens if he wins, paying loan or give it back to his parent or even losing more. the cycle will be like this. of course I don't know what happens in entire country, just from amateur gamble in my village.

[freedomgo]

So how much do they actually start with if the goal is to win $500 before stopping?
If we base it on daily minimum wage, let’s say the max is around $15, that’s already more than 30x the capital.

Realistically, the chances are very slim. Most likely they’ll stop because they’re losing, not because they hit that target. That’s the reality a lot of people ignore because they only focus on the positive side.

if they are a worker they will take a loan, if they are a young man, they will ask their parent for additional money. whatever the way as far as can increase their betting. I know this from my nephew, he was a cockfighting gamble addict, when he losses he will asked more money to his parents. and he never stop before get more than $250, so before he have IDR 5millions, he will betting more in other day. I think you know what happens if he wins, paying loan or give it back to his parent or even losing more. the cycle will be like this. of course I don't know what happens in entire country, just from amateur gamble in my village.

That’s what really kills the dreams of the young ones. Once they start borrowing money for gambling, they’re basically digging their own grave. I know that because I’ve been there myself, borrowing money to gamble and only later realizing how wrong it was.

Gambling has no guaranteed outcome, but borrowed money is a responsibility you can’t escape whether you win or lose. Worst case is losing, ending up in debt, and if you’re not even earning enough for your family, that kind of pressure is extremely stressful.

[masulum]

That’s what really kills the dreams of the young ones. Once they start borrowing money for gambling, they’re basically digging their own grave. I know that because I’ve been there myself, borrowing money to gamble and only later realizing how wrong it was.

Gambling has no guaranteed outcome, but borrowed money is a responsibility you can’t escape whether you win or lose. Worst case is losing, ending up in debt, and if you’re not even earning enough for your family, that kind of pressure is extremely stressful.

for us, it maybe risky and trying to stay away from borrowing money for gamble is a must, but for them, this way can be a culture already. some of them losing their motorcycle because unable to pay their debt. because most of gambler are truck driver and less educated for responsible gambling, they are only betting for money not for fun and no limit set, they only bet till get big win. as i say, mostly after winning equal to $500 they will stop. I never gambled with them because I don't want anyone to know if I'm also a gambler (online), but i see them betting manytimes.

[MainIbem]

That’s what really kills the dreams of the young ones. Once they start borrowing money for gambling, they’re basically digging their own grave. I know that because I’ve been there myself, borrowing money to gamble and only later realizing how wrong it was.

Gambling has no guaranteed outcome, but borrowed money is a responsibility you can’t escape whether you win or lose. Worst case is losing, ending up in debt, and if you’re not even earning enough for your family, that kind of pressure is extremely stressful.

It's a very big risk that I feel is even riskier than gambling Itself cause, it attracts insults and different forms of embarrassement, gambling is a game of luck and winning is never guaranteed so what if you lose the money you borrow, how would you repay it back, those are what people who do that should consider before taking such step. Anyways that's how to spot an addicted person. Such set of people are prone to make silly financial mistakes including the ones that would land them more troubles.

[Fivestar4everMVP]

This got me thinking and I'm using this as somewhat of my strategy. I did look at the minimum wages here: (https://en.wikipedia.org/wiki/List_of_countries_by_minimum_wage). And then when I won some money, I will just do think that in some countries my winning will be enough for the whole day of work from some countries and so I should stop and quit gambling for that day.

Not sure if this could be effective method for others to really quit while they are in net winning. Somewhat to trick your brain to think of others that is really working very hard to just earn that kind of money and you yourself won that in gambling in minutes and should stop.

On the norm, it's absolutely advised to stop gambling after hitting a major win, something or an amount of money you know you it's enough to withdraw and change something positively or for the better in and around you, this is if the money is actually important to you though cus I understand that some people who gamble can be super rich that even a $10k win isn't anytbing to them, so they keep gambling still.

But for the person whom this amount or even a far lesser amount like $200 win can do alot for, they don't need to think about that minimum wage of any other country to take a break when they win, this break can help them think well of what good to do with this money than continueing to gamble and losing it all back to the casino.

[Agbe]

Snip

I don't know why you are comparing Minimum Wage with gambling win. They are of different things. Minimum Wage is a regular payment from you working place and it is continues until you are retired. But gambling win is an extra income you got from extra curricular activities from your minimum wage. There are some countries that the minimum wage is very small because of their economy (GDP). But the inflation is low so they are contented with it. It was 2024 that my country government increased the minimum wage to $48. And a gambler can get $48 in a day. But before the Month will end, you might lost more than that amount. Minimum Wage is foe life supporting payment method but gambling is not.

[Dr.Osh]

I am also used to winning and immediately stopping, but I don't focus on the minimum wage benchmark in my country, because my capital is more than the minimum wage in my country, usually I will immediately stop when my capital has doubled, and it really helps me reduce the risk of loss and I still apply that method until now.

[Agbamoni]

Not sure if this could be effective method for others to really quit while they are in net winning. Somewhat to trick your brain to think of others that is really working very hard to just earn that kind of money and you yourself won that in gambling in minutes and should stop.

It is an effective way for you, while for others it wont, perhaps they will have what can make them quit too.
Surely, many gamblers will stop gambling after winning, because protecting their mental peace is more valuable than making extra profits. While some will see more reasons to stop so they dont lose their win back to the casino. Of course, it will vary for most people, but in all, quitting after a win is vital. Not everyone has the self control.

[boyptc]

In my country, the minimum wage is very low, I'd call it a third-world country. When you gamble, it's best to stop, you need to learn this, sometimes we have to learn by losing. Losing a good amount of money in gambling instead of using it to meet a few basic needs is really emotionally damaging, especially when you're already struggling financially. And you need to enjoy yourself with smaller amounts.

With people who earn less from countries like that need to control themselves and have to stick with the budget they gamble with.

Because if they're earning foreign money and they're having a good time making it and it's easy for them, losing with a minimum wage amount there won't be a problem to them.

But if someone who's just a regular guy and gambler earns that money and losses it less than how long he's worked in a day is doing a big mistake.

[libert19]

I get your point.

Country I come from is pretty cheap and I did try to make money off gambling at one particular point, I was managing get 'daily wage' for week or two but I eventually blew up my entire bankroll. I was using martingale.

I haven't tried to make money off gambling since.

[SOKO-DEKE]

This got me thinking and I'm using this as somewhat of my strategy. I did look at the minimum wages here: (https://en.wikipedia.org/wiki/List_of_countries_by_minimum_wage). And then when I won some money, I will just do think that in some countries my winning will be enough for the whole day of work from some countries and so I should stop and quit gambling for that day.

Not sure if this could be effective method for others to really quit while they are in net winning. Somewhat to trick your brain to think of others that is really working very hard to just earn that kind of money and you yourself won that in gambling in minutes and should stop.

You have a good method of gambling and this will really help to avoid greediness, as you always have a target. I don’t always have a target for my winnings, but once I gamble and win some amount of money, I will stop gambling for the day. However, for my losses, I always have a target. Once I lose a certain amount, I will definitely stop gambling. In fact, the reason I always stop gambling, even if I win some money, is because I don’t gamble to make money I just gamble for fun. So, any amount I know I feel satisfied with, I will stop gambling for the day, because I don’t like winning and then losing the money on that same day.

[batang_bitcoin]

As long as it will help you to quit that early when you've won like $20 - $50 and that's a minimum wage you'll have to work in your country or if not, in other countries, that's a good reason for you to stop on that day.

The problem is he’s only talking about winning, but what about the sad part. If a gambler can easily stop after winning a certain amount, then he should also be able to stop after losing a fixed daily amount.

That's the winning part and if it's about losing, he has to set some threshold too of when he's going to stop. So, most likely it won't be more than the minimum amount or wage that he's set.

I think that’s where the real challenge is, accepting the loss. Especially if you base it on daily minimum wage and you lose that amount in one day, it really feels like all the effort was wasted just from gambling.

It is. Because many can't accept how they've loss and they're not going to stop the day until they have won and recovered some. But it gets harder when they can't accept it any longer and that's another thing to accept as well.

[Judith87403]

It may be possible for a short term brake, mostly if it assists you to lock in a win and step away on time. To frame winnings in real world labor includes perspective and would be able to reduce the desire to continue pursuing even more. Haven said that, it is yet a trick mentally, instead of a safeguard. If emotions rise, the brain usually looks for a way to justify only for this last time. For few people it can help create discipline, yet for others it may gradually turn into a recent rationalization to continue playing. A more solid method is connecting this mindset with difficult boundaries such as times to stop that are fixed, rules for cash out, or not even redepositing. Structure secures, perspective helps.