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

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.

It’s a good strategy, but it seems to me that you are either initially not very involved in gambling, or vice versa, you already have serious experience. I thought so because allocating a budget once a month is a rare event, and if you do not use additional money management (breaking down this budget at least into weeks), then losing at the beginning of the month is very difficult to wait for its end. For example, I am not much involved in gambling and I have discipline but it would be difficult for me to wait even one week if I wanted to play a little.

It is partially true. The thing is that although I have a fixed budget for gambling for the month I tend to use it only when I am craving for gambling.
It's more like an entertainment for me so I deposit the amount when I feel like gambling too much in a particular month.
I am not regular at it but I gamble around 7-8 times a month. So that's why I am having good control at limiting my gambling budget.

It takes so much courage and self control for you to so such thing. I think that wouldn't be too hard for someone who is really isn't into gambling and just gamble whenever needs to be entertained. Some of us usually gamble as a part of our habit despite having it unnecessarily which results in consuming even unallocated funds for gambling. We really have to control ourselves from spending too much on gambling especially if we have continuous losses.

if indeed gambling as entertainment for some people the minimum allocation of funds is usually used, losing that money will certainly not be a problem and will not become a daily habit. But for those who make gambling an activity every day and have a threshold of losses and profits, so gambling can be controlled. without any control or threshold it would be dangerous. difficult or not to regulate it depends on the gambling goals and the mentality of the gambler.