We read a lot about gamblers who are very aware of the risks of losing, and because of that awareness, they’re already willing to lose even before they start gambling. What happens is, they become more loss-oriented (to stay in control) instead of win-oriented.
So for you guys -- do we still consider them real gamblers?
Or are they just here doing some kind of experiment?
Suppose a real gambler will budget a small part of his monthly income, especially only 1-2% of his monthly income, for gambling. And when he runs out of this budget, he will never refill it, only refill it again at the end of the month, in which case he will not participate in gambling when his budget runs out.
But an uncontrolled greedy gambler will spend almost 15 to 30% of his monthly income on gambling. When the budget is exhausted, he will participate in gambling by taking out loans or borrowing money at high interest rates. In this case, instead of controlling himself, when the budget is exhausted, he will participate in gambling by managing his money in any way.