Protect your money

[Grace333]

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?

[_act_]

There is nothing called protect your losses, if you use it to mean that someone is losing and chasing after to losses to recover their losses back. But it is true that some people will be losing money and they will chase after their losses after they previously have it in their mind not to go beyond their gambling budget. After several losses, the person would have been taught some lessons, but hope he understood it because it is how gambling addiction gradually begins.

[Questat]

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.

[Grace333]

There is nothing called protect your losses

Maybe there was nothing like protect your loses but you're hearing it now so it exist now

[purple_sparkles]

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?

A planned budget can solve this problem almost entirely. Figuratively speaking, divide your money into separate piles, with each pile assigned to a specific purpose.
When you have a clearly defined amount set aside for gambling, it's much easier for your brain to stop because it has a clear signal the gambling budget is exactly amount "N", and nothing more. This makes it easier to stick to your limits and avoid overspending.

[cxtreenal]

One of the causes of gambling addiction is the constant effort to recover lost money. There are other causes of addiction, one of which is gambling only for the purpose of making money. If you do not avoid the excitement of gambling even after allocating a fixed amount of budget, there is a high risk of addiction. I personally could not stay within a limited budget even after trying many times. Gamblers who cannot establish control over themselves have a high loss rate. The reason for losing control over gambling is the inability to stop gambling due to excessive losses or winnings.

There is no fixed strategy for saving money in gambling. Take responsibility for your own management and be responsible, refrain from excessive gambling and abandon greed.

[Fivestar4everMVP]

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?

There is no way to protect loses in gambling because loses are inevitable, whether or not you want it, you must loose money, even if you are still going to win, you must first lose money, or maybe you started winning the moment you started gambling, this is even more dangerous for you because when the inevitable loses will start to roll in, you won't believe it, you would think it's but for a moment but before you know it, every penny that was previously won will be gone plus capital too.

The best advice in gambling remains to only gamble for one reason, and that is for entertainment and also make sure to have a reliable source of income, because not having a good source of income is often one of the major reasons why many turn to gambling as a means to try making money, which often times, they end up in one financial problem or another after losing money they are supposed to gamble with in the first place.

[Sim_card]

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

Stop the game at the right time and set up a gambling budget for your gambling activities. I do assign 3% of my income to gambling whenever, it comes and that has enable me stay on track in limiting my losses and prevent my from gambling recklessly.

[Aanuoluwatofunmi]

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

Stop deceiving yourself because you cannot protect your losses except you take gambling as an entertainment in which you need money to use and enjoy its value, there is no prevention to losing in gambling, the only protection you may have is to prevent yourself from having access to gambling, but as long as you do Gamble, you are under the probability of winning or losing irrespective of the strategy you used.

[DubemIfedigbo001]

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

You don't protect what you've lost already. People don't protect their losses, they chase it and it doesn't always end well. I don't like it when people around me gamble irresponsibly without a budget. I try whatever is within my power to advise and stop them, because it kind of advertises me negatively if they're in my friend zone. I don't only tell a friend who is chasing losses to stop, I encourage them to have a specific budget and keep to it.

[Oasisman]

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

I think no amount of advice can change a person who's constantly chasing their losses. I believe they are also aware that it will only lead to further losses, but they choose to ignore it, regardless of how many times they fail. This becomes more of a habit than a psychological thing.
It would be best if they themselves realize this mistake, and that would be the only time our advice makes sense to them.
They need to realize that saving what's left is always better than chasing what's lost. I've been telling my friends and some casino acquaintances about it before, when their emotions are high, they tend to recklessly gamble all the money left in their pockets out of frustration. They end up empty handed too often than taking back what was lost.

[Akbarkoe]

The best answer is with discipline and with good self-control, whatever the term is whether it is protecting losses, addiction, obsession, hope, desire, and so on, it is still inseparable from our lack of self-discipline towards the arrangements we have made for ourselves so that we can enter into addiction or impulsive actions in gambling, this is a problem that often occurs, most people blame other things when the most important thing is our own vulnerability about realizing whether we are disciplined and can control ourselves or not when gambling.

[danherbias07]

You mean chasing their losses.

Well, my only advice is to forget about it. Forget about the losses and move on as fast as you can. Because there's a very slim chance that you can recover it, and if you did experience recovering it the first and second time, those are traps. It's a way to mentally urge a gambler to keep on playing because they have already chased back their losses once or twice.
That's what happened to me, and I thought I could repeat the same thing. Sadly, I lost more instead of winning back my losses, so it's best if we can just forget about it. Consider it as charity to them. It's not your money anymore, so don't try hard to take it back.

[Maslate]

A loss is a loss, and all you have to do is move on. Because if you don’t, that loss of yours might increase to an amount you are not supposed to lose. There is a reason why we are always advised to gamble only what we can afford to lose, because that is like setting a limit in gambling.

And those who do not set a limit are usually the ones who are more likely to get addicted. So you see, that is how dangerous gambling is. Bet responsibly, manage your money effectively, and believe that winning is not going to be consistent. We cannot even win most of the time because that opportunity is only for casinos. We are just here to enjoy.

[Awaklara]

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 the cause isn’t panic but rather not accepting the outcome of the bet. You only think about winning but don’t consider the possibility of losing. When things don’t go as we hoped, what happens is that we try to fix the situation. We need to learn to accept what might disappoint us in betting; all gamblers should know the risk of losing.

[Bityar]

To help someone who is trapped in the cycle of chasing their loses . The best advice I will give him is to accept the lose money is gone forever and walk away. I think true financial protection means safeguarding the cash you still left rather than throwing more money in a next step to win back what u already lost because it is kind of emotions you must control you have to expect to lose whatever you bet. The moment you start gambling to recover the past losses you are no longer playing safely you are falling into the trap of addiction.

[Russlenat]

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

I think what you mean is to protect themselves from losing more.

Because in your statement, it was already stated that they are losing, so what we have to do is just stick to that loss and gamble again the next day if we still want to. One reason we lose more is because we are not being realistic. We seem to forget that winning and losing are both possible in gambling, so if we cannot accept our losses, we will find a way to win by chasing it. And chasing is already a sign of an undisciplined gambler because we are no longer analyzing our bets. We just bet based on guts because we want to bet quickly or recover quickly. But the sad reality is, most of the time, we lose quicker than we recover.

[Ever-young]

A planned budget can solve this problem almost entirely. Figuratively speaking, divide your money into separate piles, with each pile assigned to a specific purpose.
When you have a clearly defined amount set aside for gambling, it's much easier for your brain to stop because it has a clear signal the gambling budget is exactly amount "N", and nothing more. This makes it easier to stick to your limits and avoid overspending.

Actually, that’s right a planned budget is important for one to make in gambling, as it will help one to ensure they gamble within what they have to offer and also make sure they keep it on fun level. Though, they need the help of self control to be able to stick to their budget because without being able to control their emotions whenever they gamble, it will hard for them to gamble responsibly, through which they can prevent or avoid being caught in the trap of thinking they can make money from gambling.

[X-ray]

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

So don't gamble. Gambling is the game of win or lose. So there's no such thing to protect your lose. When you gamble and push the botton, you have to be ready whenever it gives you win or lose. So if a gambler doesn't wanna lose, he has to retire from gambling.

[noorman0]

I've noticed that people in my circle fail to manage their bankrolls, not because they chase losses, but because they repeatedly "nearly win," and they like to over-express themselves, even if it's just a small win. They never discuss the money they've spent during a gambling session.

There are actually many ways you can become psychologically trapped in an indefinite gambling session without regard for your finances. And sometimes I'm surprised by some people who seem proud to talk about their losses from the night before.