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

[Jubilee58]

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?

Gambling and investing are two different things. There is no way a gambler would wait till the end of the year to gamble from the gain made from his or her investment, I don't see that possibility. There are people who gamble daily and others gamble weekly, but i have not seen a yearly gambler. It is important to invest, and invest wisely. Even if you are gambling, it is necessary you set some money aside for investment, this will help to relieve you in a way even if you loose while gambling.

As a gambler, don't be confused to gamble with significant part of your income, unless you have a strategy that guarantee's you winning most times, and even if you have a strategy that works for you most times, instead of using significant part of your salary, it is advisable you do rollover and benefit from the profit made from gambling.

[coin-investor]

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 don't think this idea will work for me, so I cash out the annual return at the end of the year and use it to fund my gambling for a whole year.
I don't think I have enough control to ensure that the profit from the mutual funds lasts a year, my allocation is weekly, coming from the excess of my salary.
You have to be so systematic in your allocation to see profits from mutual funds last even half a year, and I have not known a gambler who can do this.

[NewCryptocasinos]

I tried this strategy with memecoins,  honestly, I had a better ROI at the casino.

But yes, I get what you mean about investing in altcoins. If you time it right, it can definitely be interesting and even profitable. Still, I guess most of us here are HODLers in a few tokens anyway, right?

[Dr.Bitcoin_Strange]

.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 😉

Don't forget that there are people like me who claim we are gambling for fun and can not trade our fun of gambling for something else, it's  it bad to invest but even while investing, it is very easy to just sacrifice a small penny for gambling. Personally I don't think it can work like that for me, I can invest and still gamble, even if it mean that I only bet on my favorite sports once in a while but to keep it pending for a long time might not be possible.

[Fivestar4everMVP]

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?

As good as all of this seems, I still consider it a bad idea for some reasons, first being that someone who is already used to gambling will as far as invest but he or she will still raise another money to continue gambling, it is almost like impossible for such a person to restrain from gambling for a year waiting to get the profit from the money he or she has invested..

Second reason why I think this is a useless idea is because it's not feasible at all, what ever amount of money the person end up getting from the investment, this amount can be spent and possibly/completely lost in one day, that is, money the person waited for a whole year to get lost in one night of gambling, how does this sound?

Look, when it comes to reponsible gambling, there are no short cuts, you are either gambling responsibly or doing otherwise.

[o48o]

First of all using 10-30% of your income to gambling is just madness. But each to their own i suppose.

I am not sure why should you call it "gambling" funds though. Just use 1-2% of your gross income to gambling and budget more to investments.

Why should it be called as gambling funds is beyond me. Is that some kind of self gaslighting where you want to gamble and tell yourself that investing is gambling? Technically that kind of mind trick could work, but personally i see reducing gambling budget just more rewarding in terms of self-respect and control.

[Cyber_warrior]

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 everyone cares about the money they making from gambling, some people just want to have fun, so if you ask people that are always having fun when gambling to invest their money, then it’s doesn’t make any sense. I know lots of people gamble just to make money, but some people still gamble for fun.

Also even if you ask people gambling for the sake of money to invest their money, and they going to be earning 10-20 percent annually, most of them are not going to invest, because what they will be earning is going to be small. Some gambler’s will want to stake $10, and they will want to win $100 or more, so you asking them to invest their capital and earn 10-20 percent won’t even be enough for them.

If you ask them to invest and wait till after a year before they going to start gambling, what do you want them to be doing during 1 year which they decide to invest their money, you just want them to be looking at the money which they invested? I dont know if your strategy will work, but all I do tell gamblers is they should gamble responsibly.

[MRY]

As good as all of this seems, I still consider it a bad idea for some reasons, first being that someone who is already used to gambling will as far as invest but he or she will still raise another money to continue gambling, it is almost like impossible for such a person to restrain from gambling for a year waiting to get the profit from the money he or she has invested..

Second reason why I think this is a useless idea is because it's not feasible at all, what ever amount of money the person end up getting from the investment, this amount can be spent and possibly/completely lost in one day, that is, money the person waited for a whole year to get lost in one night of gambling, how does this sound?

Look, when it comes to reponsible gambling, there are no short cuts, you are either gambling responsibly or doing otherwise.

The reality is that to others gambling may become an addiction that they cannot easily do away with despite spending a considerable sum of money. And although they may take long periods before they win, they can easily relapse into gambling and within a moment, they would have lost all their money. With these looming dangers in mind, it would be prudent not to gamble or invest any time thinking of money making. The responsibility to gamble does not imply a compromise and nobody can be assured to be financially guaranteed in the long-term.

[AVE5]

First of all using 10-30% of your income to gambling is just madness. But each to their own i suppose.

I am not sure why should you call it "gambling" funds though. Just use 1-2% of your gross income to gambling and budget more to investments.

Why should it be called as gambling funds is beyond me. Is that some kind of self gaslighting where you want to gamble and tell yourself that investing is gambling? Technically that kind of mind trick could work, but personally i see reducing gambling budget just more rewarding in terms of self-respect and control.

Your insights is of same view as my previous opinion, such percentage shouldn't be considered as gambling funds in the first place and if there's any gambler who does it then the gambler should be one of those irresponsible gamblers because such budget for gambling is excessive for responsible players.
This really get me wondering to ask how such gambler who gambles with 10-30% of their incomes been fairing all the while because we all knows the risk of loosing is more provable than loosing.

That's why I keep saying it's good for anyone who's betting recklessly and using more than supposed to be percentage of income for gambling to realize they're on the wrong track.
Gambling funds can't ever be considered for investment because it usually has it own budgets from your incomes.

[jossiel]

That is why it's called investing and the other is called gambling.

It's a good idea that you've brought up but gamblers will be gamblers and even this is a proposed idea to them, if they want to gamble.

No one will ever stop them from spending 10%-30% of their salary to gamble. They'll only do that probably when they have woke up into realization that they should have done it earlier than when somebody has told them to do it.

Indeed, most of the time regrets happened after losing a lot, though there are some gambler who can manage to stop even they only lose some but most of those gamblers who loves to play will never think about it, the proposal or the idea is good but in the eyes of a gambler they will push for playing than investing.

As they will choose to proceed and keep playing than placing their money to an investment and wait for the profits to use for their gambling activities.

If they are a gambler, that's what they'll do.

But if they will start to get into investments and they're an actual investor, they might leave those games and start investing.

Yes, the proposal is good but it's for investors if they're actually going to do that. And if it's about gambling, it's the other thing that we used to do and those won't be changed for as long as they like to keep making bets even with their hard earned money.

[tread93]

If you don't know in what you're investing, or you haven't a clear idea about the markets, or worst, you don't have idea on how it some economic things work... its better you don't take part in these activities.It's like any other risk activity...
the chance to lose is really high. Plus you're literally GAMBLING!
Indexex/ in general all markets have not been disegned to an endless growth... even this can become a risk.
Of course n the long time there is no doubt of what it would be the winning side. What about entertenaiment? I think that players gamble also for having that trill... it's an essential part of the game...

So would you say that doing something like investing like this is more of a gamble than actually gambling? Haha that sounds crazy. I feel like at least with this strategy someone might have a chance if they stuck to it! Idk I think it would be a great challenge for someone struggling with gambling. One thing is for sure, if investing in an index fund is considered gambling I'd take that gamble over casino betting any day!

[mak013]

First of all using 10-30% of your income to gambling is just madness. But each to their own i suppose.

I am not sure why should you call it "gambling" funds though. Just use 1-2% of your gross income to gambling and budget more to investments.

Why should it be called as gambling funds is beyond me. Is that some kind of self gaslighting where you want to gamble and tell yourself that investing is gambling? Technically that kind of mind trick could work, but personally i see reducing gambling budget just more rewarding in terms of self-respect and control.

10-30% are good for investment. Using few percent of profit from investment can be ok, but i prefer reinvest. As for me, i would just share gambling and investment.
1-2% of income may be small enough sum, but it is possible to accumulate bankroll for gameday. I prepared my bankroll for few months and the same time i used about 15% of income for investment. 

[Fredomago]

If they are a gambler, that's what they'll do.

But if they will start to get into investments and they're an actual investor, they might leave those games and start investing.

Yes, the proposal is good but it's for investors if they're actually going to do that. And if it's about gambling, it's the other thing that we used to do and those won't be changed for as long as they like to keep making bets even with their hard earned money.

I agree to that, it's a two seperated venue and the treatment should also be seperated from one another, as most gambler will push for their gambling activities and will not look to any other alternative to focus their time and attention to their gambling sessions, and like what you just said, the proposal is good and if being executed properly it saves a lot since it can cover the amount of your deposit for your gambling bankroll, more on how a gambler will look at it and how they'll appreciate the potential.

[ozgr]

Your idea makes sense, but it’s not an investment strategy that a gambling addict can realistically follow. A gambler would most likely lose patience and drain that fund within a couple of days. The opposite approach is more practical: transferring 20% of gambling winnings into a locked fund to allow the money to accumulate over time.

[danherbias07]

It's a good strategy to avoid spending the money. It will be worth it in the future, but that's if you can really restrain from gambling and not pull it out again just to gamble. It's all up to the gambler.

My strategy is different but has the same purpose. To avoid gambling excessively. All my digital cash will be sent to my wife, and all that's left to me is what I need and some to gamble. It's not an investment, but it has the same purpose. To lessen the gambling habit, especially in slots. I'd rather focus more on sports betting.

[len01]

That method sounds easy and pretty interesting to try, but in the end self control always gets tempted by something that pushes us away from the original plan. So before someone can truly stay consistent with that approach, a gambler really needs to build a strong mindset and avoid anything related to gambling, like gambling ads or watching gambling streams. By doing that, gamblers can actually stay consistent and keep saving their money into any kind of investment without getting tempted by anything related to gambling.

[lionheart78]

It's a good strategy to avoid spending the money. It will be worth it in the future, but that's if you can really restrain from gambling and not pull it out again just to gamble. It's all up to the gambler.

Yeah but I won't consider it to avoid spending money, but rather delaying spending the money.  After a year, we are not so sure if the gambler will just gamble the profit, in my experience, those who are regulars and have been deprived for a year of gambling will really go all out, and possibly all the funds will be used as a bankroll in one session, unless the person is lucky enough to get winning.

My strategy is different but has the same purpose. To avoid gambling excessively. All my digital cash will be sent to my wife, and all that's left to me is what I need and some to gamble. It's not an investment, but it has the same purpose. To lessen the gambling habit, especially in slots. I'd rather focus more on sports betting.

This is the best strategy IMHO, because with the fund in wife's hand, it is 100% sure can't be retracted (unless the wife consents to the husband's gambling habit), just to be used in gambling, and that way the money for family needs is already secured  .

[alastantiger]

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?

Hm, its actually a smart way to force yourself into discipline, most gamblers struggle because they cant control the frequency or the portion of income they risk. Redirecing that same money into an investment first creates a barrier between you and impulsive betting. But this works for someine who already has some level of self-control, If a person is compulsive gambler, they wont wait a whole year for returns, they would redraw ealry and break the plan just to chase a loss or so. If you already disciplined then an idea like this can work for you, it will limit emotional decisions and then protect your main capital. At least then you will be gambling with less pressure and less damage to your financial stability.

[o48o]

First of all using 10-30% of your income to gambling is just madness. But each to their own i suppose.

I am not sure why should you call it "gambling" funds though. Just use 1-2% of your gross income to gambling and budget more to investments.

Why should it be called as gambling funds is beyond me. Is that some kind of self gaslighting where you want to gamble and tell yourself that investing is gambling? Technically that kind of mind trick could work, but personally i see reducing gambling budget just more rewarding in terms of self-respect and control.

10-30% are good for investment. Using few percent of profit from investment can be ok, but i prefer reinvest. As for me, i would just share gambling and investment.
1-2% of income may be small enough sum, but it is possible to accumulate bankroll for gameday. I prepared my bankroll for few months and the same time i used about 15% of income for investment. 

I think i was misunderstood here. I am not talking about taking money from investments, but taking money for investments (or reinvesting as you put it).

But also i don't count my gambling or investing budget directly from income, and don't get how anyone could keep using same percentages each month when expenses can shift a lot during each month.

Counting them from gross income makes more sense to me, because i am not touching my buffer money account (that's only for emergencies), just for keeping my investment budget target, or investments for gambling budget.

[terrific]

I tried this strategy with memecoins,  honestly, I had a better ROI at the casino.

I also did it with memecoins, and guess what happened to my money there? It's now gone in the wind. lol 

But yes, I get what you mean about investing in altcoins. If you time it right, it can definitely be interesting and even profitable. Still, I guess most of us here are HODLers in a few tokens anyway, right?

Yes, I think that many of us are into altcoin holdings as well.
But not each of us hold those reputable ones and with a better volume than the usual market that we have.
And that's why investing is not only to mitigate loss in gambling but, you're just reverting that potential risk into investing.
For which IMHO, is a better way to take risk if you're already tired losing with gambling.