My Gambling Fund

That is a great idea, Slim. And, yes, the money is easier to go through online. I try to never spend my "family money" but only "extra" I might receive here and there. I also have my rule.

I get paid weekly onto my card, so I take a small amount off there every other week for a deposit, and when that is gone it is gone. I have to wait then for the following two weeks unless I somehow get extra money.

When I figure out what I spend per month it is still FAR less than I spend on ONE trip to the land casino, lol.

I think it's easier to spend online too. When I go to a land casino, I only take a very small amount of money. When that's gone we leave. Good idea for the separate account though.

my elder brother can be categorized as a moderate gambler... he used to spend around RM5000 (approximately USD1597.70) in a single day in the gambling premise... when i follow him to the "mini-casino", i've always remind him not to spend too much because he could sometimes lose his patience and gamble at higher amount... this situation actually taught me a lesson of always stick to your budget...

in my case, i've recently played in MANSION ONLINE (my first time playing online)... i've lost USD20 in a single day... i was about to deposit more, but i told myself to stop and accept the defeat... so, i setup a gambling plan of only spending USD20 per week with no main intention to gain profit, but just to have some fun... maybe if i win, i regard it as a bonus....

so, i come out with an idea of budgeting for gambling depends on how we actually aim on gambling... if it's 100 percent on making profit, STOP IT... instead, use your money for anything else because you can't stop until either you make small profit which is 10 percent of the probability or you lose all of your money which is 90 percent of the probability... but if you regard gambling as a way of having fun, you can definitely stick on your gambling budget... trust me...

You make some good points about gambling for fun and not profit. Some people believe they win or they "chase" their losses. That is when one can get in big trouble.

I do look at the time as a form of entertainment. I rarely go out to eat or to movies. I don't go to clubs. In other words, I spend very little on entertainment, and I am a "homebody," so I can justify spending a little of my entertainment budget on doing something I enjoy from the comfort of my own home. The key is to have that limit and when it is gone it's gone. 🙂

as a business school graduate, i feel i'm qualified to suggest a gambling budget plan...

in financial planning, i've learned about the 40-60 rule about maintaining our debt over income where we should always set our debt to not more than 40 percent... is this thing related to gambling budget??? of course... because u'll never know if u need to buy a new car or a new house using loans in the near future... let's say if your salary is USD2000 a month (quite high if u live in malaysia, huh???), USD800 should be used to cover all of your debt, and the debt payment per month should never go beyond that level... if your debts don't reach this level, u can use it to cover the monthly costs later on...

the remaining USD1200, take around 10 to 20 percent of them and put it into monthly savings... which means u can save USD120 to USD240 per month and only use it for emergency... let's say u save 20 percent, there are USD960 left to spend...

and for the entertainment budget, only take 20 percent of the remaining USD960 which is USD192... then u'll have USD768 plus the remaining from debt budget for your day-to-day expenditures, paying bills and so on...

this is kind of strict budgeting... maybe some of u will find this as very hard to follow... but trust me, your financial will become balance with some portion for debt recovery, some for saving, some for expenditures and some for entertainment...

There is some great advice in this thread and I am glad to hear it. You should always know your limits and stick to them, no matter what has happened. Often the worst thing you can do is get angry and deposit extra money in an attempt to win back losses. You should expect to lose often when you play casino games - that is the nature of the game and part of what makes them exciting too.

I like your discipline slim and 02106YWY - I can't say I am that financially responsible though!

that's why i love this website... we're not just talking about online casinos... we can also share and learn information... i've seen people shared info, news, word games, tips and hints here... sharing these things is what real fun really means...

02106YWY wrote:

that's why i love this website... we're not just talking about online casinos... we can also share and learn information... i've seen people shared info, news, word games, tips and hints here... sharing these things is what real fun really means...

I love all the forums here, and in General Chat we have many topics going on, plus support of one another. I have to agree with everything you say here! 🙂

CL-Ed wrote:

There is some great advice in this thread and I am glad to hear it. You should always know your limits and stick to them, no matter what has happened. Often the worst thing you can do is get angry and deposit extra money in an attempt to win back losses. You should expect to lose often when you play casino games - that is the nature of the game and part of what makes them exciting too.

I like your discipline slim and 02106YWY - I can't say I am that financially responsible though!

Who am I, chopped liver? Or don't you think I have discipline. lol I just had to tease you a bit, CL-Ed. I am just kidding. 😉

As much as I love to play, I do stick to my tiny budget. I actually believe it has SAVED me, because I spend less than I used to going to the land casinos.

If I want to play in between my deposits, I just check out the free tournaments or whatever. 🙂

For now, I'll stick to my maxed out credit card 🤑 so if ever they charge it without my consent, it will just bounce back..!! 😜 SMAO

Ubetcha wrote:

For now, I'll stick to my maxed out credit card 🤑 so if ever they charge it without my consent, it will just bounce back..!! 😜 SMAO

You are way too funny, Ubetcha! 😉 lol!