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

[tread93]

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?

[AmoreJaz]

Well, you can only do this if you have more than enough, or you have extra extra funds. Otherwise, you can only gamble but can't invest. Also, this is not for all gamblers. As some has no inclination when it comes to investments. Because it would take knowledge and skills to invest. And of course, your passion to do so. Without such interest, I don't think the person will actually do such strategies. I believe gamblers are more than happy to just play and not invest.

[Hatchy]

Nahh, it's will be a no for me. It will only cub way for addiction because you will then say to our self that you have enough funds to risk and possibly fail to use a good risk management till all the said investment money has been exhausted then you go again for another round. One thing I can say here is, it won't be easy for a regular gambler to just save up such percentages of his income to use it at the end of the year for gambling. Someone reasonable night not want the idea because to me, why not use it to do other important that's that would be worth the saving period instead of spending it on something as risky as gambling..

[khiholangkang]

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?

If calculating directly from total income is a big mistake in my opinion, to approach safer funding for gambling in your budget plan prioritize basic needs first, after that emergency funds, and investments, after the calculation has been found, then you have free money which is the remaining money that you can use for anything for the next month, well from there you just consider the amount you will spend on gambling, whether it's 5%, 10% or more than that, you will be safe because your needs and various mandatory expenses have been fulfilled, besides you reduce the risk of big losses this can make you live more calmly because you already have funding for your life before getting another salary next month.

[Churchillvv]

Well 10% to 30% is a really high amount out of someone’s income but however that same amount that will be invested merely for gambling purposes will also be the exact same percentage used to invest for one’s lifetime investment however my opinion is if we have an investment like the mutual funds or whatever type of investment that yields annual return we can take a very little amount like 1-5% of profit for gambling spread out within a year, so whatever you are gambling with is only within that amount then you can be more comfortable losing and when you win you will be better.

[Sticky Bomb]

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.

You have a great idea, someone like me have funds for different financial commitments and that is why it is advised to gamble with a budget.

I have a percentage of my income that goes to expenses, a part goes into savings ad another part goes into cooperatives which I use for investing in physical assets at the end of the year when I receive my share and I still use some percentage of it for bitcoin investment.

I have funds mapped out for gambling which is at most 4% on my monthly income, such a fund is strictly for my fun and I am not diverting it anywhere. I am a gambler and the best I can do is to keep it responsible.

[Cantsay]

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

If we’re being true to ourselves then from first glance at this post we should already realise that this isn’t an idea that’s going to work for an “avid” gambler. If we’re talking about someone who gambles occasionally or once in a while then it should work but for a strong gambler? Nah! This isn’t going to work.

First off, they are going to think of the investment as a long time thing unlike gambling where they just have to go to and in a few hours time they’ll already know if they’re getting something good from it or if they have lost, but from your idea they’ll have to wait and watch their money grow and lots of gamblers don’t have that kind of patience and we all know it.

To some of them, they are looking for that quick money scheme and they believe gambling can help them achieve it but if you take this your idea to someone who still harbors that idea of gambling being for entertainment purposes only then they might be willing to hear you out on what you have to say, but for an addict I doubt they’ll listen or even want to try it out if they listen to you.

[FirmWars]

It won't be very easy to practice this strategy because the urge of gambling won't allow many people to stay for a whole year before they can gamble again. In order to adopt this strategy, there's a correction to make there, for those that can not stay for a whole year without gambling, they should divide their gambling funds into two place, the half should always be going into the investment while the other can be spent on gambling. For example, if you have $15 as the funds you want to use for gambling, you can invest $7 and then spend $8 on gambling. With that, you can still be gambling while also investing, at the end of the year, if your investment does 20%, you will take the profit and be judiciously spending it on gambling for that duration of 1 year too when the invested capital will also generate another profit.

[JunaidAzizi]

Yeah, it is a great idea, and most of the successful gamblers adopted this idea a long time ago. However, the real problem is not this. Do you think people will exceed the fund they set for gambling from their salaries? If they set it separately, then they won't. But what if they deposit it again and again? The solution is to bring self control, i.e., emotional control. If you achieve that, then it does not matter where the money comes from, you will have a fixed amount and will spend only the amount you set for it due to self control.

[Hewlet]

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.

Not a bad idea at all even though we have to differentiate between gambling and investing and know that gambling is gambling while investing is investing. You can gamble and invest, gamble and not invest or not gamble while focusing on your investment. All are what people do and depending on what you feel is the right thing to do that works well based on the kind of situation you find yourself in, you can either work with one of the options available.

Gamblers consider gambling an option based on the fun that's associated with it and for that reason, they set out a percentage of Thier income that they can afford to loose into gambling while setting out a bigger percentage that goes into investment and other needs.

[Zlantann]

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

It's not a bad idea for those who gamble with large sums. With a strategy, people will finance their gambling expenses from investment profits. The challenge will be the ability of these individuals to limit their budget to only what they have gained from investment.  The temptation of funding your gambling life with other sources might come up after exhausting the initial budgeted funds.

This strategy could also lead to reckless gambling. The mentality that money is a profit on investment can trigger over-gambling. Nevertheless, I wouldn't invest because the profit will be used for gambling.

[LucyFurr]

If one can stick to this strategy then I doubt they will be a regular gambler, because investors are keen about their spending so if they are expecting 10% return they will try to keep the return as it is and let the compounding effect to do that job which can be profitable in the long run. Buf if you are suggesting this specific for gamblers then they can wait for a year to start gambling?

[Antotena]

.
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?

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. You can do it when you like and how you want it, you can decide to skip for the day or do it if you are free, this is why gambling funds isn't needed. Risk what you know you can afford from your balance and you can go about your life.

I everything you do about gambling, don't ever broorw funds to gamble, if there is no money to gamble, you don't have to gamble for that day and if you don't even gamble that day, I'm sure there is nothing will happen to you. You can decide to gamble and win, that will become the new norm to you, the end isn't good and you may even try it the first time and not win anything. It's going to pain you more when you don't win anything in gambling with borrowed funds.

[blomen]

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.

[DPHOR]

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

This is a very nice approach but then you have to think about how much people are using to gamble, especially those who are gambling with just less 1-20$ do you think this sets of people can accept to make investment with such amount? As i know already, the amount they are using to gamble is what I think they can afford to lose while gambling so they won't see any reason to keep such funds into holds as investment to source them addition income before they could use it to gamble. Then lastly, Those who gambles with higher amount maybe from $50 above can adhere to such methods because it would really help them out.

[SmartGold01]

Well 10% to 30% is a really high amount out of someone’s income but however that same amount that will be invested merely for gambling purposes will also be the exact same percentage used to invest for one’s lifetime investment however my opinion is if we have an investment like the mutual funds or whatever type of investment that yields annual return we can take a very little amount like 1-5% of profit for gambling spread out within a year, so whatever you are gambling with is only within that amount then you can be more comfortable losing and when you win you will be better.

There is no difference between what op is saying and main investment and instead of venturing such it would be that better for someone to just have such funds used to stash up bitcoin through DCA, as it would really help while people gambling can either uses 1% of their weekly/monthly income to gamble which could reduces the risk ratio to either 2% as gambling probability is always low and doesn't direction and means of creating winning within shortest time frame.

[Findingnemo]

Investing to gamble? That's a bit stretch from reality...

Actually, I like the idea, basically one can gamble with free money if they invest in the right asset but how practical it is to implement with the difference in nature between a gambler and a holder. Gambling is instant gratifcation so if one who is choosing then they might not go to the extent of holding assets, get the return then use it to mitigate the risk.

[Obim34]

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

Gambling with 10-30% of income is already an addiction.

Trying to sugarcoat the habit will not help, going this far, the best help is to quit gambling for the time being.

It may look logical, but for anyone addicted, even after investing 30%, when the urge hits, he will find a way to gamble, either by taking from the remaining 70% meant for important bills, or he goes for a loan, at the end, he may have spent far more than the returns from the investment.

[Showlove01]

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.

I think this would have been more better if you have experiment or practicalize it and see if it is worth doing or not because if I'm not mistaken this is based on assumption and imagination. This has to be done or carried out so that you will tell or advise people with evidence and there's nothing more sweet than saying or speaking with facts and evidence I mean people will follow immediately though it is not really a bad idea but I think someone who is lucky can make X of that annual return you are talking about.

[Crypto Library]

I always maintain that there is no winning strategy or skill in gambling or that there is no strategy or skill to succeed in it.
However, if someone tries to control their losses in gambling, it is possible and to do this, they must set aside a specific fund for gambling every month from their income and it must be within their ability to lose.
In this case, if someone sets his gambling bankroll beforehand, it helps to maintain mental or emotional control. And at the same time, his own control power becomes strong. I myself try to control loss in gambling by following this strategy.