How much the money to spend will be subjective and should be different between one gambler to another gambler. It will be hard to determine the amount of money. However, I do agree that a gambler must limit his funds. Spend all money to gambling is indeed a stupid idea. Only a careless one does that poor idea, I even never think to use extra money once I have lost all funds in a single day. Sometimes we must admit that it is not our day or not our luck. If we don't limit our funds, even we can lose everything in a single day, including home or cars. How to deal with this all, the key is to control yourself (point 2). I assume that point 1 and 2 are still closely related.