Quote from: ajochems on January 09, 2022, 10:07:34 PM

Quote from: hello_good_sir on January 09, 2022, 09:30:41 PM

Quote from: madnessteat on January 09, 2022, 07:48:17 PM

Personally, I believe that if a person spends no more than $100 a month on gambling is the first sign that he does not have a gambling addiction and is quite able to control their budget. It happens that I spend $200 on gambling but I always split this amount into two different deposits and do not allow myself to spend more than $100 per day.

I think that is way too much unless your monthly income is $10k+.

You shouldn't allocate more than 5% of your income to gambling. You should treat it as an expense because you are mathematically guaranteed to lose it all given that you play with the funds for long enough.

Would you spend $200 a month on movie tickets?

Probably not.

Have the right mindset.

Based on your monthly income, you can inverse your on gambling. Actually investment in gambling will be made without any contradiction and investigation. So it will purely based on your luck. With a luck, you need to be patience to get a decent amount as your profit all the time.

Gambling is not an investment. Investment is an investment of funds for the purpose of making a profit.

The investor always has a well-grounded plan according to which he will make a profit. This plan is based on mathematical and economic calculations. The investor controls the process of making a profit. He doesn't rely on luck.

Gambling is a direct interaction with chance (luck, fate). The player has no control over the end result of the gambling game.

This is the key difference between investment and gambling.