Setting a budget is quite okay because when you make budget not only in gambling, it makes you stick to things that are within your budget and you have to be determined not to go against your principles no matter how tempting it is because I know there are times when one is in need of money so bad that immediately you lose a bet you might want to try more with the hope that you might win on several attempts.
And again avoid betting on too many events in one bet instead you can split the bet as there might be chances of succeeding in outcome of one of the event because the risk would be lesser compared to when you make so much accumulation
Setting a budget is an important step in managing overall finances. This help maintain financial balance and prevents overspending in any activity, including gambling. By having firm principles and discipline towards your budget, you can ensure thats the financial decisions you make are within limits that can be managed in a healthy and responsible manner.
As well as maintaining commitment to a budgets will help you avoid debt trap and promote long term financial well being, so always be able to set a suitable budget and stick to it so thats if we experience defeat it will stop us and not chase those losses.