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

[Royal Cap]

No one may be interested in investing for a year and most people may not be able to continue such a strategy. Because most gamblers prefer to gamble without investing.
 It is a bit difficult for those who gamble regularly to accumulate such a percentage to gamble at the end of the year because they have to wait a year to deposit it and then play with the interest on that money which is time consuming.

What I see is that most gamblers lack patience. Saving money for a year and then playing with it doesn't really fit their mindset. Because gambling means they want instant excitement, they want results now, something to happen now. So slow strategies like investing seem boring to them. Again, to be honest, those who gamble regularly are not in the habit of saving mentally. They rather think that there is an opportunity today, we will see later. So the idea of ​​saving money at the end of the year seems unrealistic to them.

I think it is difficult to keep the idea of ​​investing in mind when gambling, because the two are different mindsets. Investing requires patience and gambling requires haste, So those who try to mix the two end up not being able to do either one properly.

[Oluwa-btc]

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

Honestly it could sound as a good idea but ij the other hand it's going to worsen the situation of gambling addiction, imagine someone gambling with huge funds and after the investment cash out the person still fall back to gambling with all of the funds gotten, cause at that point it's taken that the process can be recycled so instead of helping the situation the reverse is the case so I'll clearly kick against that for me.

[r_victory]

The advice is good: separate your gambling money from your money for expenses. It will serve as an emergency fund. But getting a 20% return on an investment is a great opportunity to continue investing and not withdraw to gamble; it's like trading the sure thing for the uncertain.

[jossiel]

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.

It can be done though.

But gamblers will always be gamblers and we know that, we can't pretend to be worried of each other and yet, there's no actual care from the gamblers that we're concerned of.

That's just a waste of energy from giving them reminder that they can do this or those things that we propose for them to do.

Although this won't become a waste if we can apply this to ourselves.

[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. 

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.

I have main income from job, some additional income. Salary is stable enough and i use only these part of income for all calculations. All additional income moving to buffer account(same as yours`) and investment.
I never tried to put some percent for gambling. I use fixed sums. Even when i planned long game, i prepared bankroll for few months before start. That time i used additional income for it.
PS. The more time i spend in investment the less interest i have to gambling. Investment is much more interesting and the result much more positive.

[masulum]

The advice is good: separate your gambling money from your money for expenses. It will serve as an emergency fund. But getting a 20% return on an investment is a great opportunity to continue investing and not withdraw to gamble; it's like trading the sure thing for the uncertain.

gambling fund maybe good if they are able to control their gamble activity. many people still failed to manage their gambling habbit even have separated money that used for gambling only because when they are lose, they only think about the winning, give once or two additional money for gambling instead of stopped the session.

[KiaKia]

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?

At the end of the year is when the gambler will cash out? Do you even know what it feels like to not gamble for 12 months because some money is locked away for a year? It is not going to work, it is like telling someone to avoid their hobby for a whole year, it is going to be very painful.

If anyone can stay that long away from gambling not because they are addicted to irresponsible then they should just find something else to turn to their hobby instead of punishing themselves this way.

Every gamblers should master the act of managing their own funds,  forget this index fund idea, risking 30% of your income salary on gambling is stupid, such amount found be used to buy Bitcoin for better future.

If gambling fails you for few years to come, Bitcoin investment won't fail you.

[Dr.Bitcoin_Strange]

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.

For some people that have a very low income based on the country they are in, using 2% to gambling is very small. For example, if the person is earning $100 monthly, would he agree to spend just $2 for gambling in that whole month? Definitely he won't agree, that's why people like that always like to stake with 10% and some will even go above that to make sure they gamble to the fullest. It's when you are earning around $5k or $10k, that's when your 2% would be big enough to serve you.

[nimogsm]

The idea itself is interesting, but it has many drawbacks for the average player. The starting capital must be substantial in order to earn at least $100-200 in dividends, which can then be used to play, and few people will wait a whole year for the sake of the game. On the other hand, it is a good way to protect your capital from reckless losses.

[junder]

Honestly it could sound as a good idea but ij the other hand it's going to worsen the situation of gambling addiction, imagine someone gambling with huge funds and after the investment cash out the person still fall back to gambling with all of the funds gotten, cause at that point it's taken that the process can be recycled so instead of helping the situation the reverse is the case so I'll clearly kick against that for me.

I think it's almost the same as what I was thinking. Someone who has set aside a specific fund for gambling indicates an addiction, but they may be trying to limit it in their own way. I actually think it's a good idea to not spend too much money on gambling, and it's not mandatory to set aside a specific fund for gambling.

Perhaps gambling shouldn't become a habit, like three times a week or whatever. Instead, do it when you feel like it, with time and budget limits. But that doesn't mean you always want to gamble.

[tread93]

The advice is good: separate your gambling money from your money for expenses. It will serve as an emergency fund. But getting a 20% return on an investment is a great opportunity to continue investing and not withdraw to gamble; it's like trading the sure thing for the uncertain.

gambling fund maybe good if they are able to control their gamble activity. many people still failed to manage their gambling habbit even have separated money that used for gambling only because when they are lose, they only think about the winning, give once or two additional money for gambling instead of stopped the session.

Hmmmm. This brings an excellent point! People who cannot even trust themselves with gambling need to place their gambling investment account fund in some sort of designed system that will provide someone with at least shared viewer access of an account with notifications of any withdrawls enabled and weekly withdrawl caps and maybe even multi party approvals. Such systems are very complex and most gamblers would not use these type of systems but legally and ethically there are many conflicts of interest if they are not set up correctly.

[Leahized]

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.

We should never indulge in excessive gambling. No one plans this in the beginning, so most of the time it turns into an addiction. That's why it's important to be aware of these things and use a certain amount of time for gambling, not more. Because if a gambler gambles for a certain amount of time, he will never become addicted. Yes it's true we always have to consider losing, because gambling has the most to lose. But after considering the money, it is better to make small bets and enjoy gambling as much as possible without expecting huge winnings. If we want to save funds, we have to look at losses.

[ejikeme24]

The advice is good: separate your gambling money from your money for expenses. It will serve as an emergency fund. But getting a 20% return on an investment is a great opportunity to continue investing and not withdraw to gamble; it's like trading the sure thing for the uncertain.

Gambling budget is supposed to be make after we must have sort all our expenses both the necessary and the ones that seems less necessary before a gambler should think of making gambling budget so that when things isn't working the way we expect we won't feel disappointed or start regretting why we used the money meant for other important things to gamble. Because I noticed that the reason why most people regret so deeply after losing is due to the fact that they Skip what they are supposed to do with the money to gamble. So to avoid all this unnecessary panic or regret we need to make sure that we have all our expenses figured out maybe the leftover after every" every" can be used to gamble.

[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.

For some people that have a very low income based on the country they are in, using 2% to gambling is very small. For example, if the person is earning $100 monthly, would he agree to spend just $2 for gambling in that whole month? Definitely he won't agree, that's why people like that always like to stake with 10% and some will even go above that to make sure they gamble to the fullest. It's when you are earning around $5k or $10k, that's when your 2% would be big enough to serve you.

Ok, if you have a very low income, can you explain why would it be smart to use more of it to gambling?

And i am not talking about getting someone to agree to some specific budget. Why would i even have a say in that? It's their own money and responsibility. I am talking about responsible budgeting.

Also if someone is making $100 / month, i am hoping that their expenses are relatively lower as well. If they are, then it's basically same amount of wealth in percentages you are gambling. And if not, then putting anything to gambling doesn't seem responsible at all.

[tread93]

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.

I mean would you call it a good habit? Would you feel proud if your child were to be with you the entire duration of your gamble. You see jts all good fun yes but every once in a while and not every day. Gambling is basically a gateway drug to a crazy domino affect, and if people are not careful they wont just get addicted to gambling when they lose it all they will turn to drinking if they havent already and become alcoholic and once that has run its course the harder drugs can come. Not saying this is what will happen its what can happen if people aren't responsible and have good friends and family that care about them and dont have other great things going for them. Gambling can lead to destruction

[Betwrong]

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

Maybe using 10% of your income on gambling once a year is not madness, but using 30% surely is. I'd recommend using not more than 5% each month and try to never go over that limit. As of "Gambling Funds", I think it's a bad idea. It can create an illusion that you are safe with gambling more than you can afford to lose and that's dangerous. So, no "Gambling Funds". It's not rocket science, it's just for your entertainment. Gamble responsibly.

[Finestream]

You have set a valid goal, however the problem is, not all gamblers were able to control their emotions that once they lose the total returns, they won't touch the capital and leave gambling without hesitation. Because most likely, gamblers are said to be hard to control most especially if they are still seeing chances to win. The most probable outcome here, everything will turn into losses including the index funds itself, and may even develop addiction to gambling knowing gambling can be very accessible with those certain returns that are definitely intended for gambling purposes.

[tread93]

You have set a valid goal, however the problem is, not all gamblers were able to control their emotions that once they lose the total returns, they won't touch the capital and leave gambling without hesitation. Because most likely, gamblers are said to be hard to control most especially if they are still seeing chances to win. The most probable outcome here, everything will turn into losses including the index funds itself, and may even develop addiction to gambling knowing gambling can be very accessible with those certain returns that are definitely intended for gambling purposes.

Yes, to the addicted gamblers this would never work. They would just cash in the whole policy and gamble it away. You've got to admit though its not a bad idea. I wish it could be easier for people to not get addicted or to have better controls here. You either have it or you dont but I do believe it can be aquired through perseverance.