Gambling Budgeting

[nara1892]

At first, I also ignored the plan to set aside funds for gambling, but after getting caught up in my emotions, I often ran out of money and even found it difficult to meet my basic needs. My case was almost the same as yours, OP, and in the end, I set aside funds for gambling once a week, which was 4% of my income, amounting to around $5-$7, and everything became better.

Setting aside funds is indeed very important because gambling can greatly affect your mental and psychological state, which ultimately makes it very likely for you to keep trying to play without caring about your actual needs, which are more important.

[Tungbulu]

Thinking or believe that you won’t encounter a few issues on the way just because you claim or is actually gambling for fun is just another heavy misconception that most gamblers also make.and carry along with them, not until they actually fall into one of those problems. Setting of gambling budget, even if it may not always be entirely easy or possible.for a lot of people, but it has indeed done more good than good which is a kind of a testament that budgeting is actually beneficial, except those who are always greedy and can’t afford to stick to the same budgets they set for themselves.

[JoyMarsha]

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

A gambler who manages everything together with their daily expenses is not doing themselves a favor; they are doing themselves a terrible thing that they cannot explain how their money can't last a month without borrowing from friends and family. You can imagine how could be that you are working, but you can't say how your money keeps getting spent before the month's end. That's the worst thing that can happen to a family man who caters to his family

[Agbamoni]

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

How difficult is it to set aside a budget? Most folks make budgeting sound like a difficult thing to do. First, you know how much your income is, and your discretionary income. Set aside an amount from your discretionary income. Once youve done that, it is your gambling funds, you can do whatever you want to do with it. I mean, you can bet with all the amount in a day or spread it throughout the week or month, depending on how often you get your income.

[promise444c5]

Everything is all about discipline..

There’s  nothing like your gambling limit were exceeded if you have some discipline but yeah the truth is most gamblers find it difficult.
You can just deposit a specific amount you will be needing for a gambling session/ period. Once it’s used up, you should know you’re done for that day / week/ month  but still ,you need some discipline to avoid depositing more because you can easily deposit another funds on most  casino platforms.

Btw, that’s what I do..I deposit a particular amount to place sport bets .

[yixichloro2xx]

What you said is true, if someone doesn't budget the amount that they are going to use for gambling, it will make someone to tap into money meant for important needs. That is how small fun betting turns into bigger losses. Like me I bet on Saturday and Sunday, so before I pick games(football matches) I have set the amount I am going to use maybe 10,000 Naira to gamble during the weekend. Then if I incur lose, I stop immediately. Once you know your limits and discipline about it, you will be able to control your losses. Gambling shouldn't be a thing that should affect basic needs.
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[coin-investor]

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

You must develop the habit of separating your gambling budget from your savings and household budget and stick to it. It's a sign that you are a responsible gambler and you're not gambling to gain.

All addictions start and become worse because people cannot stick to their budget, they develop an unstable urge to gamble, and they even take out a loan just to continue to gamble.

People who have no control over how they gamble always increase their budget until their salary cannot keep up.

[aioc]

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

Responsible gambling is all about control and the right allocation. Knowing the right amount of time and money to gamble, an allocation that will not harm your budget and not interfere with your personal time and work.

Irresponsible gamblers have one trait that stands out, and that is uncontrollable spending in casinos, because they are chasing their losses and looking to make gambling their cash cow.

[EluguHcman]

I have personally noticed one thing. Those who gamble just for fun also get into trouble at sometime just because they don't keep track of their money. Those of us who invest or trade or even try to keep separate funds for daily living expenses. But there are many who don't feel the need to keep separate funds for gambling. I didn't keep funds at first. Later I noticed that my gambling limits were being exceeded because of not keeping funds separate. Even though I gamble for fun, I try to keep separate funds.

Responsible gamblers are usually early conscious with the risks and temptations about gambling so that they don't observe their misconducts lately just like your experience, but you are still safe in the long run when you realizes yourself in the mid or short term before it causes your bankroll and emotions damage.

Perhaps setting a gambling budget does not ascribe that you must be playing for profits only but also when you are playing for fine. That particular adherence makes you a responsible gambler and gambling without a specific bankroll will always cost you more because you would not even know when you have exceeded what you can afford to let go at lost.

[Alphakilo]

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

Responsible gambling is all about control and the right allocation. Knowing the right amount of time and money to gamble, an allocation that will not harm your budget and not interfere with your personal time and work.

Irresponsible gamblers have one trait that stands out, and that is uncontrollable spending in casinos, because they are chasing their losses and looking to make gambling their cash cow.

I don't think there should be an argument when it comes to how much a gambler spends at a live casino versus how much a gambler spends on an online casino. There's simply a huge difference and I think those who visit live casino center, walk in with cash in pocket that's enough for gambling and other entertainment while those who gamble online have only limited amount to gamble with if they actually know what they are doing.

I use a limit and even if I must extend to bet on other potential games and odds, I fund only half the amount I originally funded my account with. Once I exhaust it, I wait for the results and wait till another fateful day I fund my account with the original amount limit and make my bets.
My own risk management as regards my financial spending on gambling is strictly limited, no matter the potential of the odds I pick. I don't overdo more than I can afford even if I can afford it at the moment, unless I win or take out a reasonable cashout before I have the guts to increase my bet amount.

[rachael9385]

I have personally noticed one thing. Those who gamble just for fun also get into trouble at sometime just because they don't keep track of their money. Those of us who invest or trade or even try to keep separate funds for daily living expenses. But there are many who don't feel the need to keep separate funds for gambling. I didn't keep funds at first. Later I noticed that my gambling limits were being exceeded because of not keeping funds separate. Even though I gamble for fun, I try to keep separate funds.

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

Gambling for entertainment purposes does not mean that you free from the dangers of gambling if you are not cautious of how you handle your activities.  Every gambler should have a budget either for the week or month, ot doesn't matter if you are gambling for  profit or entertainment. its wise that you kept the funds aside fot it even if you only gamble for entertainment purposes.

[Wakate]

There isn't mistery about this. You just have to calculate how much from your total monthly income you can spend with gambling. How much is it going to be, 5%, 10%, 15%? Once you reach to this conclusion, you will know exactly how much you can deposit at casinos along the month. You don't have to separate those funds, you just have to track how much you have already spent and how much there is still left to spend.

I don't think we need to take gambling very seriously because their are many things we can do to make money from betting than trying to gamble all day to make a small profit that may not be enough when you have a job you are doing to earn a living.
When discussing about budget as gamblers, I don't think one need to go as far as calculating the overall income in a month before knowing what percentage to be used out of it.

[hyudien]

Separating your gambling budget is important, as it will allow you to know your limits and stop when your budget runs out. However, what is more important is the discipline to maintain and control these measures, which is more difficult than separating your budget. Gambling plays on your psychology, but when you are disciplined and in control, you will minimize the risk of much greater losses.

[AYOBA]

I have personally noticed one thing. Those who gamble just for fun also get into trouble at sometime just because they don't keep track of their money. Those of us who invest or trade or even try to keep separate funds for daily living expenses. But there are many who don't feel the need to keep separate funds for gambling. I didn't keep funds at first. Later I noticed that my gambling limits were being exceeded because of not keeping funds separate. Even though I gamble for fun, I try to keep separate funds.

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

Those that always claim that their only gamble just fun since they understand that their losing allot of money in gambling they don’t call it a fun anymore, because no matter how rich the person it is once begins lose some amounts of money every week he can also step back form where his talking his money too. And that’s why we can see most of those people have their own gambling budget, except those that are new to the gambling.

Because if a person have a gambling budget it will even limit his loses from gambling, since everything will be base on calculation when you can just take all the amounts of money that you win back to the gambling to avoid losing everything.

[AmoreJaz]

I have personally noticed one thing. Those who gamble just for fun also get into trouble at sometime just because they don't keep track of their money. Those of us who invest or trade or even try to keep separate funds for daily living expenses. But there are many who don't feel the need to keep separate funds for gambling. I didn't keep funds at first. Later I noticed that my gambling limits were being exceeded because of not keeping funds separate. Even though I gamble for fun, I try to keep separate funds.

Responsible gamblers are usually early conscious with the risks and temptations about gambling so that they don't observe their misconducts lately just like your experience, but you are still safe in the long run when you realizes yourself in the mid or short term before it causes your bankroll and emotions damage.

Perhaps setting a gambling budget does not ascribe that you must be playing for profits only but also when you are playing for fine. That particular adherence makes you a responsible gambler and gambling without a specific bankroll will always cost you more because you would not even know when you have exceeded what you can afford to let go at lost.

If you want to limit your budget, then, just deposit what you can really afford in that particular session or bring only the amount that you feel you can really spare for that game. So once busted, it means, you need to call it a day and go home. No need to chase losses. Accept what it is and just go back if you have another extra.
If you won't restrict yourself, you can easily fall into the trap of debts and financial crisis. So before it will become too late, manage your finances and stick to your budget.

[Oasisman]

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

As for me, I have to settle everything important or necessary expenses first, and then, when everything is taken care of, that's the only time I have to see if I have any left for gambling. There's no safer way than this to avoid overspending, even without tracking your gambling expenses.
Only necessary expenses should be tracked, not things like gambling.
Gambling is never part of my “main budget.” It’s more like entertainment money. If there’s extra after bills, savings, food, and other responsibilities, then that’s the only time I allow myself to use a small portion for it. If there’s nothing left, then I simply don’t play. That mindset alone already sets a natural limit.

I also think the danger starts when people treat gambling funds as flexible or when they mix it with their daily household budget. Once everything is in one pool, it becomes easier to justify “just a little more,” and that’s when limits get crossed without noticing.

[khiholangkang]

I have personally noticed one thing. Those who gamble just for fun also get into trouble at sometime just because they don't keep track of their money. Those of us who invest or trade or even try to keep separate funds for daily living expenses. But there are many who don't feel the need to keep separate funds for gambling. I didn't keep funds at first. Later I noticed that my gambling limits were being exceeded because of not keeping funds separate. Even though I gamble for fun, I try to keep separate funds.

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

The topic title is repetitive and we often discuss it here, but your question is indeed different. However, even so, many of the same answers will appear on the same topic. If you bother reading and searching, it's pointless for me to comment here if you haven't read it.

But if you do read it, all finances must be separate. People with good financial management will separate their financial allocations. This is the basis of money management. They shouldn't be put in the same pocket because it will be dangerous when a momentary emotion causes you to deposit more. Which money is for gambling, which is for needs and investments, and which is for emergency funds? All money must be separated so you know where to spend what, according to your ability.

[red4slash]

I have personally noticed one thing. Those who gamble just for fun also get into trouble at sometime just because they don't keep track of their money. Those of us who invest or trade or even try to keep separate funds for daily living expenses. But there are many who don't feel the need to keep separate funds for gambling. I didn't keep funds at first. Later I noticed that my gambling limits were being exceeded because of not keeping funds separate. Even though I gamble for fun, I try to keep separate funds.

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

I prefer to say that I budget gambling from income. Maybe it could be said separately but since I try to manage my finances well I always budget from the start as my tolerance limit including in gambling.
This is so that I don't go out of that zone and when I run out of funds that I have allocated then I will stop gambling and wait until the funds are replenished next month with my income.

I didn't do this before and the cost of my gambling surprised me because I was spending more on gambling than investing so I started from the beginning to create several options including budgeting from the beginning. It's a bit difficult especially when you still want to gamble but you're out of budget but it's a good way to pressure yourself to be more disciplined and until now I've never crossed that line and for me it's much better and purposeful because at least I know how much I'm spending when I gamble even if it's all burned up with nothing left.

[Stablexcoin]

I have personally noticed one thing. Those who gamble just for fun also get into trouble at sometime just because they don't keep track of their money. Those of us who invest or trade or even try to keep separate funds for daily living expenses. But there are many who don't feel the need to keep separate funds for gambling. I didn't keep funds at first. Later I noticed that my gambling limits were being exceeded because of not keeping funds separate. Even though I gamble for fun, I try to keep separate funds.

I want to know from your real experience, do you keep a separate gambling budget? Or do you manage everything together?

Its wise to keep track of your gambling records to know how much has being won and lost within a specified period as that helps to checkmate if you're in a deficit or in winnings. I don't really have the much finances to actually keep aside money for gambling from my earnings but I always have a targeted budget in mind for gambling and I make sure not to exceed that.

[Queen uloma]

Gambler should set a limit on how much they're to gamble with before drying their pockets, before you go out to gamble whether for fun or  for entertainment, decide on how much to spend, avoid using money you can't afford to loss, that is why, we are always advise to use our discretionary income, most times it's not all about how well we plan but it's about how we can control risk, most times before you gamble you need to understand that you will surely loss so always have it at the end of your mind, and be prepare for anything whether Good or bad.