Maybe we should start "Gambling Funds" to mitigate the risk of loss

[FFrankie]

That would assume that I don’t lose every dollar I get when gambling or that I bet enough to have to worry about the loss. No one should be gambling 30%-40% of income because that doesn’t make sense. Life has too many expenses to devote half your income to just a recreational activity

[Karl_3000]

That would assume that I don’t lose every dollar I get when gambling or that I bet enough to have to worry about the loss. No one should be gambling 30%-40% of income because that doesn’t make sense. Life has too many expenses to devote half your income to just a recreational activity

Gambling may not be a recreational activity but it can also be a recreational activity. So I will prefer not to regard gambling as a recreational activity.

Anyone that is using a very small amount of money to gamble can see it as a recreational activity if he is gambling in a good way but anyone that is using 30 to 40% of his money to gamble, I think that is a reckless gambling and it may be a sign of addiction which is not recreational at all.

[Dunamisx]

One thing we have to be sure of that may provide this strategy or approach irrelevant is the fact that once its accepted, it may no longer be termed as gambling, if a gambling platform has the intention of diversification, maybe going into investment program, which is different approach entirely, we should not have the mentality of avoiding losses in gambling, because we are bound to risk our money to have the fun as profits in gambling, but many thought its also an avenue of making money, which may not work as we may wanted.

[Sticky Bomb]

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Most gamblers has a lot going on with their life, not everyone does gambling every day and it's not something that is compulsory you know that's why all these isn't important. Gambling isn't an investment that requires a fund set aside.

This is one of the many reasons people end up addicted or messing up their finances, because they don't approach gambling with a budget. It is important that you plan your finances properly even before spending them and that includes identifying the funds that should go into gambling and placing them in a different account for precision purposes. if you lack specificity in your financial management as a gambler, there is a very high possibility that you gamble excessively unknown to you.

[maydna]

Your strategy is good to apply. We prepare our funds for playing gambling from the profit of our investment. But that needs more control to hold ourselves from gambling. You know that not many gamblers can restrain themselves from gambling.

Not many gamblers can wait a year to see their profit, if that is really profit. But if they lose, they can't playing gambling at all and that can make them sad. But those strategies help gamblers to reduce their gambling activity because waiting for a profit in the next year. A wise gambler will search for a way to enjoy gambling and treat it as entertainment. They can use many ways or strategies. That can mitigate the risks of loss.

[348Judah]

We had better prepare for loss if we are this much interesting in gambling, because there will be more of it than winnings each time we are playing, there's nothing we can do about it, once we make the necessary effort to play and it does not come for a win, then we take the fun as benefit instead, gambling fund may be in form of another scheme which the casinos may not want to deal with as its all about fund and how this could be a the best interest of the gamblers and not the casinos.

[mak013]

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What do you guys think about this strategy to help avid gamblers mitigate their risk of loss?

I think that here is just one big plus. You don`t break your budget losing these money.
I don`t know how to use such strategy in real life(on my example at least).
First of all i get income from investments in various time. I have to keep it for a year to lose it one moment? Or i have to play each time, when i get payout?
I`m sport bettor. My payouts don`t matches the events i bet on. And matches goes all the year round. What to do in such situation?

As for me good decision is money management. You just plan how much money you can spend and set such limit. If you`re winning - you withdraw some money and one moment you get your first deposit back. It looks much easier.

PS. The best way to use your investment is to increase income, not for gambling.

[Yaunfitda]

So this is an interesting idea, im sure its been thought of before but im not sure if we have ever discussed this in here before and even if we have im sure its worth it to resurface. 

The idea is this: If you consistently gamble large amounts of your income perhaps you should consider this strategy to avoid huge losses. instead of using 10-30% of your income on gambling why not try to invest it in an index fund or mutual fund that sees 10-20% amnual returns and at the end of the year cash out on the returns to use towards your gambling activities.

Nah, I don't think that this will work on gamblers, whether simply or those addicted. Because it will not be gambling for them, but rather just investing. But at the end of the day, it will be as bad as losing money because once you got that returns then where you gonna put it in gambling again? So it's better if you would just be a wise gambler or not gambling at all with this strategy. Delayed gratification is not part of gamblers, we want to win today that's why we stake and so waiting for a year might just put your in a more dangerous spot of gambling more because you know that money will come anyways.

[Porfirii]

i don't think any gambler would wait a year to play with the money they've set aside or saved for gambling, only to then settle for playing with the interest on that money. this simply becomes as laborious as opening a restaurant instead of ordering food. if you are financially capable of making regular investments, gambling remains just a hobby anyway. in such cases, you shouldn't need to save money to finance your gambling. i don't think it's a very sensible idea.

Do you mean that all gamblers have no extra money to invest elsewhere because of their gambling activity?

What would make more sense is to keep gambling with a part of your salary, and invest another part for a year. Then, next year, you'd only use a part of your salary to keep investing, but not to gamble, because you'd use the proceeds of last years investment.

Unlike you, I think that this strategy can make sense, but yes, it's not perfect. First of all, instead of investment (investments could go wrong too, couldn't they?), I would probably prefer deposits: you would need more savings to get enough to gamble for all the year, at a 2%-3% APY. I said this because deposits are safer than investments, but savings would continue to lose value due to inflation. So that's not the perfect strategy either, but it could be a good choice if you have some savings in your bank and don't use them for anything. At least, you'd use the money you would lose to inflation to gamble, instead of spending a part of your salary.

[summonerrk]

So this is an interesting idea, im sure its been thought of before but im not sure if we have ever discussed this in here before and even if we have im sure its worth it to resurface.  

The idea is this: If you consistently gamble large amounts of your income perhaps you should consider this strategy to avoid huge losses. instead of using 10-30% of your income on gambling why not try to invest it in an index fund or mutual fund that sees 10-20% amnual returns and at the end of the year cash out on the returns to use towards your gambling activities.

This strategy has huge upsides:

1. You practice restraint of all gambling activities and earn your gambling though investing
2. You traded a bad habit of gambling and losing with investing and now see consistent returns if invested properly.
3. You will feel better if you do lose in your gambling activities because you wouldn't lose your initial earnings, just the gains for that year.
4. If you do win, youre not only winning from gambling but now youre also winning from investing 😉

What do you guys think about this strategy to help avid gamblers mitigate their risk of loss?

In my opinion, this will not work because problematic and inveterate gamblers do not like it when money is located anywhere other than gambling.
These guys love it when money works, and their understanding of working means depositing money at an online casino or bookmaker. This makes the gambler believe they'll win much more than if they simply waited for interest on their investments in cryptocurrencies or funds. It's strange logic, but at the first sign of addiction, they always withdraw all their deposited money from the casino.

[Agbamoni]

This is a good idea, and I think it will work, but first, you will need to stop gambling for a year to save up that gambling funds.

To be honest here, I can't find myself trying to save for the aim to gamble. I dont gamble always and even if I do, I stay consistent to sports betting only.

[Charles-Tim]

This is a good idea, and I think it will work, but first, you will need to stop gambling for a year to save up that gambling funds.

You mean to save up for gambling funds? You do not need to stop gambling to save up gambling funds. Assuming you are using
1 to 2% of your weekly income to gamble, you can reduce it to 0.5 to 1% and save the remaining $0.5 to 1% instead for what you want to use it to do.

I think anyone using 20 to 30% of his money to gamble can save 18 to 26% and continue using 2 to 4% to gamble.

To be honest here, I can't find myself trying to save for the aim to gamble. I dont gamble always and even if I do, I stay consistent to sports betting only.

What did you mean by this? That sport betting makes you a responsible gambler than casinos?

[joniboini]

To be honest here, I can't find myself trying to save for the aim to gamble. I dont gamble always and even if I do, I stay consistent to sports betting only.

If you cash out the funds, you can also use that to play sport, so it isn't that different, right? Unless you're saying that your sports betting only happens at some interval where getting bigger funds doesn't mean much (I can't imagine one, though). If anything, you have a lot of options considering how popular sports betting is.

[aioc]

The idea is this: If you consistently gamble large amounts of your income perhaps you should consider this strategy to avoid huge losses. instead of using 10-30% of your income on gambling why not try to invest it in an index fund or mutual fund that sees 10-20% amnual returns and at the end of the year cash out on the returns to use towards your gambling activities.

It's like saying that we should stop gambling and just invest it in mutual funds. The question is, have you done it yourself to recommend this idea? Investing is a different subject, and gambling is another. There are people here investing and allocating funds, and I don't think a mere recommendation will make them stop gambling.
They will just answer back that they are enjoying gambling, and it's like taking away what they enjoy doing.

[Pandu Geddon]

What do you guys think about this strategy to help avid gamblers mitigate their risk of loss?

I think if you have managed your investments and gambling funds before, you might never consider that method. You have already allocated your finances for investment and entertainment, like gambling. So, why think about other investments that I believe could affect your gambling for a while. 
If you are used to and regularly access gambling, it will be difficult to do so unless you are really busy and don’t have time to gamble.

[Rockstarguy]

What do you guys think about this strategy to help avid gamblers mitigate their risk of loss?

This is just like taking this gambling thing very seriously; I think it is a lot of work for me. For me, I see it as one being desperate to come up with a strategy for gambling. The best way, if you don't want to take risks in gambling and manage your losses, is just to gamble with the amount that you can afford to lose.

Accumulating money to be used for gambling is no longer money that you can afford to use for gambling because accumulating this fund will sum up to a reasonable amount of money. The best thing is to understand gambling and only gamble what you can afford, and take a rest. You don't need to stress yourself all in the name of gambling because I see this strategy as what could be desperation, and that can lead to addiction too.

[Agbamoni]

What did you mean by this? That sport betting makes you a responsible gambler than casinos?

No, dont misinterpret my statement. To be a responsible gambler is a personal thing; it doesn't matter what game you are gambling on.

It is easy for me to manage my betting habit without burning out more than 1% of my monthly income. I dont have to waste my time trying to save for gambling, it is not a priority in my life.

[gunhell16]

So this is an interesting idea, im sure its been thought of before but im not sure if we have ever discussed this in here before and even if we have im sure its worth it to resurface. 

The idea is this: If you consistently gamble large amounts of your income perhaps you should consider this strategy to avoid huge losses. instead of using 10-30% of your income on gambling why not try to invest it in an index fund or mutual fund that sees 10-20% amnual returns and at the end of the year cash out on the returns to use towards your gambling activities.

This strategy has huge upsides:

1. You practice restraint of all gambling activities and earn your gambling though investing
2. You traded a bad habit of gambling and losing with investing and now see consistent returns if invested properly.
3. You will feel better if you do lose in your gambling activities because you wouldn't lose your initial earnings, just the gains for that year.
4. If you do win, youre not only winning from gambling but now youre also winning from investing 😉

What do you guys think about this strategy to help avid gamblers mitigate their risk of loss?

That’s a nice idea you’re thinking of, but of course, we also have to look at reality. Not everyone is capable of or prioritizes mutual funds, even though I know the benefits we can get from them in the near future are good. However, we also have to admit to ourselves that getting or accessing mutual funds isn’t exactly cheap either.

The majority of people still aren’t at the middle-class stage instead, the number of struggling individuals or those in a merely stable situation in life still dominates. That’s why most would still
prefer to gamble at online casinos, because they still largely depend on luck until today.

[Helena Yu]

2. You traded a bad habit of gambling and losing with investing and now see consistent returns if invested properly.

It just feel wrong when you conclude gambling as a bad habit, the same thing how many people see gambling is bad when they were actually talk about gambling addicts, not gambling itself.

If someone really care about money and profit, I don't think such people will gamble because they see gambling as a liability. Had you know if someone didn't want to improve their life even though their salary increase, because they will invest as much as they can.

[Creeper0]

This fund may be too small to gamble with. Is it possible to gamble again for another year with the funds from the annual profit? This can lead to you gambling more recklessly and losing more money. However, you can allocate a small portion of your income to gambling and build a monthly bankroll. This can be a more effective strategy and help you maintain self-control.