Protect your money

[DrBeer]

When it comes to the topic of protecting our money, this is one topic that alot of gambles misconcept and do the opposite but they still feel like they're doing the right thing. Normally if we are to critically think about the topic in relation to gambling it definitely would  mean gambling responsibly, but then a lot of gamblers try to do this but end up protecting their loses instead of the money they still have. One major catalyst to addiction is the idea of using the money you have to get back all that you have lost whereas you where supposed to protect the ones you have by gambling on budget. The reality of this type of experience is that it will happen so fast that you can't explain how you managed to go off budget in trying to recover what has already gone with the hope that luck might meet you along the way.
Personally I think, the cause of this is panic, afterwhich they realize that they just lost an amount that isn't ment to be used for gambling.

So my question is:
How would you best advice someone who is still trying to protect their loses?

This is often due to a feature of human thinking, namely the attempt to deceive oneself, for fear of the truth. Let me explain with a simple example.
 
1. As the majority of people do:
For example, the husband received his paycheck and went to the casino. Soon, more than half of his salary he loses. and realizes that his wife at home he "will blow his brains out" What does he do? He deceives himself, and says - ok, now I'll spend the rest of the money on the game and will definitely win back and then my wife will not scold me! That's it, it's over. No money, no winnings, and probably soon the wife will leave.
2. What a smart man does. He says to his wife - I want to relax sometimes, and will take 5% of my salary per month, on gambling.
He saves 5% of his paycheck and gambles on it...or not gambling, but saving and probably using it for something more useful.

[Pandu Geddon]

How would you best advice someone who is still trying to protect their loses?

I will tell them to treat gambling just as a game for today. Whether you win or lose, just enjoy today. Tomorrow is a different session. There’s no need to think about yesterday’s losses. We will never be able to beat the house, so lower your expectations. Just enjoy what you have with today’s gambling. And everything will be fine.

[Yorubek]

There is no confirm way to win through gambling that can completely help you win. It is good for us to remember that there is more chance of losing money through gambling than winning, so I think if we want to maintain self-control over ourselves through gambling and control greed or emotions and manage gambling with discipline by keeping our mind steady, then we must gamble with the money we can afford to lose only for entertainment purposes, we cannot gamble aggressively with the mentality of making quick money because this increases the amount of losses and also increases the possibility of addiction. If a gambler starts gambling aggressively to recover the lost money, the risk of losing money increases manifold, so I think it is better not to hope to get back what you have lost through gambling because this increases the amount of financial losses.

[Charcol]

So my question is:
How would you best advice someone who is still trying to protect their loses?

If someone is depositing new money in an attempt to recover the money lost in gambling, then you should understand that he is also losing new money. Trying to recover the money lost in gambling is pointless. Rather, this is one of the main reasons for addiction. But it is not possible to convince some people that it is not possible to recover the money lost in gambling. Because in their mind, a kind of addiction to gambling works. They think that one day they can recover all the money. However, in gambling, you have to make the decisions, so it is important to have your own control here. It is better not to gamble in such a way that later turns into an addiction.

[Africolo]

Protect your emotion, I think that is the best thing to do. Why? Because if we cannot protect our emotions, that will lead us to reckless gambling and losing a lot of money, even more than we can afford to lose.

The thing is, if we are gambling, we should already accept that what we put there has a high chance of losing, so we should not expect too much.

Because one of the main reasons for addiction is high expectation, when in reality, we are battling against a high house edge.

I agree with you on this and that's the right thing to do as a gambler, you just have to protect your emotions and another way of protecting your emotions is to control your gambling habits and stop chasing looses because once you begin to chase loosing then that the beginning of open doors to more loss.

We should understand that gambling is a game of loosing and winning and one can actually loose a huge amount of money at any given time in gambling so little expectations should be given to it as it's unpredictable and winning is never assured no matter the strategies and tactics used in analyzing games. And let's also try to bet with the amount we can afford to loose because many gamblers makes the mistakes of borrowing money to bet with the assurance that they will win and pay back and yet they will still loose and have a heart attack afterwards, so let's try and protect our emotions by betting wisely.

[Queen uloma]

The first advice I will give anyone that is still trying to protect losses is to first, accept that the money is gone. The moment you begin to chase after losses, emotions like panic, desperation, and anger must have taken over, this is what makes people end up taking bad decisions. Most times instead of recovering the money they end up losing more. I always advise people that once you pass your gambling budget, the best thing to do is  to stop gambling immediately. Don’t try to borrow money, use your savings or even touch money that you’re supposed to use to sort out other bills to gamble. Gambling does not have guarantee, so believing that with the next bet you must recover everything is one of the dangerous mindset. Protecting your money is more better than protecting your losses.

[Alex077]

Normally if we are to critically think about the topic in relation to gambling it definitely would  mean gambling responsibly, but then a lot of gamblers try to do this but end up protecting their loses instead of the money they still have. One major catalyst to addiction is the idea of using the money you have to get back all that you have lost whereas you where supposed to protect the ones you have by gambling on budget. The reality of this type of experience is that it will happen so fast that you can't explain how you managed to go off budget in trying to recover what has already gone with the hope that luck might meet you along the way.
Personally I think, the cause of this is panic, afterwhich they realize that they just lost an amount that isn't ment to be used for gambling...

I think you've made a really good point. A lot of gamblers end up trying to protect the money they've already lost instead of protecting the money they still have. That's usually the moment when emotions start taking over instead of common sense. That's when people break their own rules, go over their budget, increase their bets, and make decisions they would never make if they were thinking clearly.
In my opinion, it's not just panic. It's also the fact that people hate accepting a loss. They'd rather risk even more money than admit it's gone. That's why the best way to protect your finances is to treat your gambling budget as money that's already been spent and never chase losses with money that wasn't meant for gambling in the first place.

[Makus]

You mean protect yourself from losses? First of all, as a gambler you must learn to accept the fact that the money you put into gambling can be lost, it is inevitable and cannot be avoided but there are measures that can be taken to cut down losses. The problem a lot of people have is that they try to avert their losses but this only makes the situation worse than what it actually is, chasing losses can never be the solution to getting back what you have lost. As a gambler you need to know when to stop so you don't end up making more mistakes.

[Muba20]

I had come across such a situation before. There I saw a gambler trying to recover his lost money. And from that I learned a bitter experience. When I tried to convince the gambler not to gamble to recover his lost money. Then he did not take any of my advice. Instead, he kept telling me that he had recovered large amounts several times by the same method. But it became almost impossible to convince the gambler that gambling always controls fate. He started believing that he would definitely get a big return on his next bet. Then I realized that he was addicted to gambling. And an addicted gambler never takes any advice against gambling. When he himself faces big losses, he stops gambling.

[Myleschetty]

When it comes to the topic of protecting our money, this is one topic that alot of gambles misconcept and do the opposite but they still feel like they're doing the right thing. Normally if we are to critically think about the topic in relation to gambling it definitely would  mean gambling responsibly, but then a lot of gamblers try to do this but end up protecting their loses instead of the money they still have. One major catalyst to addiction is the idea of using the money you have to get back all that you have lost whereas you where supposed to protect the ones you have by gambling on budget. The reality of this type of experience is that it will happen so fast that you can't explain how you managed to go off budget in trying to recover what has already gone with the hope that luck might meet you along the way.
Personally I think, the cause of this is panic, afterwhich they realize that they just lost an amount that isn't ment to be used for gambling.

I believe the primary cause is naivety combined with greed, which could lead to addiction if care is not taken. Since this is one of the early indicators of gambling addiction, that's the near miss effect, and it's what keeps gamblers addicted when they continue to play a game in the hopes of winning, even though there is no real chance of winning.

So my question is:
How would you best advice someone who is still trying to protect their loses?

I will advise the person to stop gambling for 2 weeks before they start again so they can reflect on the reason behind why they're protecting their loses insted of funds.

[Sticky Bomb]

How would you best advice someone who is still trying to protect their loses?

I will tell them to treat gambling just as a game for today. Whether you win or lose, just enjoy today. Tomorrow is a different session. There’s no need to think about yesterday’s losses. We will never be able to beat the house, so lower your expectations. Just enjoy what you have with today’s gambling. And everything will be fine.

For me if it is very obvious the person has lost a lot of money, then I'm telling him to quit gambling for the time being, at least until he's able to define his budget and come to terms with the advice you placed above before he can continue. Sometimes it is best irresponsible gamblers quit the casino to cool off their heads, try to pick up better gambling practices before trying again. I think it's best to quit for a minimum of 6 months and if you're not able to control yourself and not gamble while you're on retreat, that means your addiction level is much and you need therapy as well

[Wakate]

When it comes to the topic of protecting our money, this is one topic that alot of gambles misconcept and do the opposite but they still feel like they're doing the right thing. Normally if we are to critically think about the topic in relation to gambling it definitely would  mean gambling responsibly, but then a lot of gamblers try to do this but end up protecting their loses instead of the money they still have. One major catalyst to addiction is the idea of using the money you have to get back all that you have lost whereas you where supposed to protect the ones you have by gambling on budget. The reality of this type of experience is that it will happen so fast that you can't explain how you managed to go off budget in trying to recover what has already gone with the hope that luck might meet you along the way.
Personally I think, the cause of this is panic, afterwhich they realize that they just lost an amount that isn't ment to be used for gambling.

So my question is:
How would you best advice someone who is still trying to protect their loses?

When you are gambling, the only way you can protect your loses is when you are disciplined and gambling with risks management. Gamblers that are conscious of not taking anyhow risk when gambling will always have limited loses because they are protecting their loses. Greed is one reason why we can easily lose money to gambling when thinking of doing the right thing.

[348Judah]

Don't only protect your money when it comes to gambling, also protect yourself and everything that has to do with you gambling must be maintained accordingly, stop putting things at stake all because you wanted to gamble to satisfy your short-term pleasure and implicate your future plan over a long time, gambling should be seen as an entertainment that enables us to maximize everything opportunity when we are in leisure time.

[Bryan jessy]

Gambling on a budget is the main way of protecting our money, but that can be possible only if a person keep to the budget because most times some persons make budget and when things fails to turn out the way as planned they can not help but go against their words by compromising, thereby spending more than the agreed budget. For someone who is financially organized and knows how to manage funds he will always have budget made for everything that needs to be taken care of, this ensures every expenses are sorted out and can be account for. In relation to gambling; the only way to remain sane in gambling is to gamble on budget, a gambler should gamble with the exact amount set aside for gambling and stick to the plan regardless of the outcome whether he losses or wins, the budget should be worked with this level of discipline will serve to prevent unnecessary loss.

[nara1892]

The right idea in my opinion should not be "protecting losses" but "let go of the money that has been lost", these two sentences have different meanings, when you think about protecting your money then of course there is a possibility of misunderstanding that ultimately you chase the loss, but if for example what is in your mind is "let go" then you will not have a problem with the money that has been lost and will be more focused on preventing it from happening again.

[Sonia_123]

Losses cannot be protected, the only thing you can do is to minimize your losses by having a budget and don't exceed it no matter how Interesting the game seems to be, and always gamble with what you can afford to lose , when you don't have funds on you to gamble with avoid gambling, gamble only with your discretionary income and not money meant for your family or personal expenses.

[Cryptomultiplier]

Losses cannot be protected, the only thing you can do is to minimize your losses by having a budget and don't exceed it no matter how Interesting the game seems to be, and always gamble with what you can afford to lose , when you don't have funds on you to gamble with avoid gambling, gamble only with your discretionary income and not money meant for your family or personal expenses.

Adherence to gambling with oy discretionary income may be a great idea but what's more crucial is to gamble with capital management in mind and emotional control.
If you gamble to an extent and see that there's a possibility to retain your capital with cash out price, why not take it and rebet another time?
If there's also the possibility to use rewards bonuses at some stage in casino games betting, why not use it and conserve capital instead of taking much more risk because it's discretionary funds you are using?

If there's discipline in application of risk management that involves capital or financial management and emotional control, gambling won't be about chasing losses anymore, but about trying to conserve capital for long and knowing the right decision to make when gambling.

[Marykeller]

A gambler who chases after their loss all the time in gambling can't protect their money. They can only protect their money if they learn to have limits when gambling. Limits to gambling wins and losses.

I think that, gambling can be tempting in the sense that, it can make you believe that a payday is around the corner. You should gamble like, you will recover your losses with just one bet, if you bet with a huge amount. A responsible gambler shouldn't agree to that because that could cause them unbearable losses that they can forget in a hurry.

[Botnake]

Do not gamble beyond your budget. Set your betting limits and spend only what you can afford to lose. Do not chase your losses as well, because that is another trap to bet more and lose bigger than your previous losses.

Also, its better to keep track of your time. Set your betting time, its easier to lose track of time when you get more engrossed in betting, so its always better to set an alarm to get reminded of your allotted betting time. And lastly, do not gamble using your emotions. Avoid gambling when you are drunk, sad or in the state of anger because you will only make biased decisions that will not help you win but will only lead to bigger losses.

[BALIK]

Normally if we are to critically think about the topic in relation to gambling it definitely would  mean gambling responsibly, but then a lot of gamblers try to do this but end up protecting their loses instead of the money they still have. One major catalyst to addiction is the idea of using the money you have to get back all that you have lost whereas you where supposed to protect the ones you have by gambling on budget. The reality of this type of experience is that it will happen so fast that you can't explain how you managed to go off budget in trying to recover what has already gone with the hope that luck might meet you along the way.
Personally I think, the cause of this is panic, afterwhich they realize that they just lost an amount that isn't ment to be used for gambling...

I always assume that every bet is totally gone at the start. And I set a strict session bankroll before I start playing. Also I never put any living expenses or pocket money into it, I never try to chase losses.

Whenever I have a strong urge to recover lost money, I immediately walk away. These are usually come from panic or haste. Then I take a walk, sleep, or do something else. Yeah, it's hard for me to accept a loss, but it's much better than digging myself into a bigger hole. Discipline or restraint always works better than emotion.