"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've always advocated for responsible gambling in this forum and the best way to achieve it is by having a bankroll for it. If you have a budget for gambling and you're disciplined to stick to it, it wouldn't matter if you're winning or losing, when the amount is exhausted you'll quit for the day. It's important that the amount that you budget for gambling should be what you can afford to loose, so you wouldn't put too much of your income on what depends on luck to win or be profitable. This is my strategy to avoid being addicted to gambling and it's working very fine for me.
You can agree with me that the easiest part is setting a gambling budget, while sticking to these budgets remains the part where most gamblers defaults. Sometimes even the responsible gamblers often flaw in this particular area, some do it when they’re already caught up in the thrill of the game, some due to their hunger and thirst for recovering money they’ve lost in the previous rounds, and some because they’re not yet satisfied and still wish to while away time. For some, this often leads to unexpected losses regardless of the reason for exceeding their gambling limits or budgets. That’s why it’s always crucial to stick to one’s limits, regardless of the situation.