Quote from: pawanjain on August 15, 2022, 11:04:14 AM

Quote from: Betwrong on August 15, 2022, 09:38:59 AM

Quote from: pawanjain on August 10, 2022, 03:08:30 PM

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Again, that depends on person to person but for me I would never gamble more than 10% of my savings.
So that's my threshold limit in gambling.

10% is about a right threshold, in my opinion. It is like the maximum one can lose without suffering too much from it. Only don't try to chase your losses because those 10% can turn into 50% and more, like I did yesterday, losing with that 6 times more than I could afford to lose in one day. I should have stopped after reaching my threshold, but I din't, and I even glad I didn't win in the end, because I wouldn't learn my lesson from this then.

It's good that you are taking the losses in a positive way by learning a lesson of how to not chase your losses.
But at the same time the losses shouldn't have gone to 50% at first place. When I say 10% of my savings I make sure to deposit only that much amount for the month.
So that amount is my hard stop and the maximum I can lose. It won't matter if I lose it all in a single day or keep playing with that amount for the entire month.
The next deposit will only be in the next month.

Good money management strategy, mate! This way you can be sure that at least you will not lose in one session more than you can afford to lose in one month. With this strategy it is very important to stick with the plan, and don't deposit again after losing your monthly limit. From what I know, most gamblers are able to cope with this or similar task. Around 5% are classified as problem gamblers, and that's a tragedy, but most gamblers know their threshold and don't go beyond it.