"Bankroll" is usually a term used in sports betting. From what I've read in some of the threads here, we need to be disciplined in managing our bankroll, typically betting only 5% to 10% per wager. So I'm curious: do bettors here really set up a bankroll first before they start gambling, or do they just gamble whenever they have available money?
Please share your experience whether positive or negative and what you learn from it.
I usually only gamble when I go to a casino in real life, and in those occasions I would just set a number beforehand and just bet up to that amount.
Once that amount is gone, all the bets are off.
Basically I see that money as an entry fee for the casino to have a look and have some fun.
If I manage to win, I usually just take the money out and go grab a couple of drinks or some food on the house.
Anything like OP mentions I actually do with investments and savings, but not gambling as it doesn't have a great return IMO.