As a gambler do you think we should allocate specific amount to bet on?

[SmartGold01]

This post was a little misconception of a fellow user on the other forum saying that is not a good advise to allocate specific amount to gamble, that is good to gamble with spare money or money not in used.
Okay I was mean to ask this question towards people over here to know and draw different overview from you all to know whether you always have spare fund or money not in use? As a matter of fact I don't have spare money or money not in use and every money is useful to me therefore I have to set some specific amount from my weekly/monthly income to use and gamble to maintain a responsible gambling practice and when this money is exhausted I don't go further to alter any other money kept as reserved or cushion/emergency fund.

To summary here; whenever you are gambling with spare money if you don't apply cautiousness you would end up altering your savings in the name of gambling with spare cash or money not in use for other important things.

I will like to see your different opinion on this misconception maybe let us know how to control gambling addiction if by using spare cash can reduce and limits gambling addiction or not.

[Rruchi man]

To summary here; whenever you are gambling with spare money if you don't apply cautiousness you would end up altering your savings in the name of gambling with spare cash or money not in use for other important things.

Because of how tough the economic situation is in almost every country I do not believe that anyone has any cash that they can tag as spare cash, even any amount of money that someone uses for relaxation has mostly been budgeted. it will be easier for you to keep control of the amount of money you use in gambling if you budget that money and stay discipline about the budget you have set out for gambling for that month or duration of time.  It is not bad to have gambling in our budget.

[electronicash]

by limiting the amount you can gamble then you are fighting the urge to deposit something when you lose. this is basically trying not to gamble more which could be your best option to not lose more especially if you are playing on casino games and not on sports.

its easy to get lured when you are looking at the jackpot prize to win. yes allocate an specific amount will be good for you in battling the urge to gamble more. i think there are more advantage on this than allowing your self to chase the loss.

[SmartGold01]

To summary here; whenever you are gambling with spare money if you don't apply cautiousness you would end up altering your savings in the name of gambling with spare cash or money not in use for other important things.

Because of how tough the economic situation is in almost every country I do not believe that anyone has any cash that they can tag as spare cash, even any amount of money that someone uses for relaxation has mostly been budgeted. it will be easier for you to keep control of the amount of money you use in gambling if you budget that money and stay discipline about the budget you have set out for gambling for that month or duration of time.  It is not bad to have gambling in our budget.

Thank you for your input towards this as I was almost getting it twisted when said it is very stupid for someone to have an allocation like 1-5 percent reserved for gambling from their monthly income.
You know whenever an amount is allocated to gambling it makes you be in control on the amount you should be spending to gamble and if that amount has come to finished then that person has to take full responsibility of the amount to gamble with can be able to wait till that amount is being replaced again.

[Roseline492]

Because of how tough the economic situation is in almost every country I do not believe that anyone has any cash that they can tag as spare cash, even any amount of money that someone uses for relaxation has mostly been budgeted. it will be easier for you to keep control of the amount of money you use in gambling if you budget that money and stay discipline about the budget you have set out for gambling for that month or duration of time.  It is not bad to have gambling in our budget.

Of course you are right because sometimes with the kind of economic issues most countries are having and some persons are still seeing some money as a spare change it makes me wonder the kind of money they have because no matter how much someone would have on there savings no amount should be regarded as a spare money because when we talk about spare money we are actually referring it to be a money that is waste.

So actually you have spoken my mind because instead of seeing or having some money as a spare money they could possibly structured it in a way that they will keep a certain small amount for gambling, because the good thing about having a budgeted amount in gambling is that it keeps them away from getting addicted because immediately they exhausted the amount they will have to wait till another month.

[Igebotz]

To me, talking about gambling with spare money and gambling with a specific amount are synonymous because both involve discipline and gambling budgeting. It takes a budget-conscious person to gamble with a specific amount, and whether we agree or not, that specific amount is likely to be one that the gambler can spare.

I believe that it is beneficial to set aside money for gambling, and that gambling should adhere to that budget. This can go a long way toward protecting against excessive gambling. 

[ajiz138]

To me, talking about gambling with spare money and gambling with a specific amount are synonymous because both involve discipline and gambling budgeting. It takes a budget-conscious person to gamble with a specific amount, and whether we agree or not, that specific amount is likely to be one that the gambler can spare.

I believe that it is beneficial to set aside money for gambling, and that gambling should adhere to that budget. This can go a long way toward protecting against excessive gambling.

budgeting or allocating gambling money is something that is easy in my opinion, but what is difficult in my opinion is sticking to the allocation amount.

The reason is that temptation will always be there and when our weekly or monthly allocation runs out, sometimes there is a temptation which makes us think about increasing the amount of our allocation at the start. This is difficult to do, and commitment to something is difficult to implement well.

[Zed0X]

Whatever you prefer to call it (spare or allocated), should we do it? It's not written in stone that you set a reasonable budget for your leisure activities (including gambling) on a monthly basis but that's still a better practice than an unhinged gambler.

[MUGNIA]

I think it's true what was said in another forum, never set an allocation for gambling in my opinion because with an allocation that is applied, the intention to increase the allocation will definitely be there every month, especially if you often experience losses, the level of curiosity will continue and before you realize the expenditure/allocation for gambling greater than basic needs

[target]

This must be what to do when a gambler is planing to just stop gambling for good. Gradually just allocate small amounts to quit gambling.

The disadvantage of this is that if you still keep losing and if you sum it all, you still lose a large sum. If youre trying to quit just find another hobby to pour your energy.

[Sim_card]

I think it's true what was said in another forum, never set an allocation for gambling in my opinion because with an allocation that is applied, the intention to increase the allocation will definitely be there every month, especially if you often experience losses, the level of curiosity will continue and before you realize the expenditure/allocation for gambling greater than basic needs

This is where discipline comes in, setting a gamble budget is a way to discipline yourself so that you don't gamble excessively. If you already have a budget, the moment it is exhausted, you don't gamble anymore till it is refilled after being paid. I also have a time limit to enable stop once the time is up. Gamble responsible and control your gambling activities to prevent addiction.

[Agbe]

It is very must necessary for a gambler to allocate or draw a budget for his gambling activity if not he will end up spending everything in the process of gambling. But he has to remove the amount base on his income. And if he is married then he has to also.plan for all those ones before even removing the budget allocation. But there are some addicted gamblers might not think of all these but he will still plan for the weekly expenses of the house.

[0t3p0t]

One key important thing a gambler should always remember is discipline and that is what makes us create limitation especially in gambling which most of us has failed to implement with ourselves. I personally have experienced failing on this before but then I learned about it's importance and that is what I am up right now to limit my loses.

[vegasus]

Isn't setting the amount to bet part of our financial management? especially in gambling, we really have to have financial management, yes, its function is to manage existing risks. This is to minimize the possibility of risk and increase the level of possibility of gaining profits. And, financial management is also to prevent ourselves from gambling addiction.

Because, if we don't set the funds, we will accidentally spend money again and again without caring how much money we have spent. And this is the danger that can drive and trigger us to become addicted without us realizing it.

[mu_enrico]

I think it's okay if you use less than 10% of your income, but it still depends!
It's possible that you don't have the "free cash" after you pay all your debts and bills. In this case, just don't play before you get a better financial position. Gambling isn't for people who don't have spare money.

So the more accurate metric shouldn't be the percentage of your income, but the percentage of your free cash after you pay everything. But yeah, to simplify the calculation just use less than 10% of your income.