The money he can afford to lose is expendable income. And that is if it is actually that one.. It is not that you are wasting it on something bad but that it is going into something where the outcome is very random.  If you have created a budget already, it will be clear to you what you from it what amount you have dedicated to gambling which is recommended should be around 1% of your income. It is not the anxiety of losing that causes those panic attacks. In my estimation, what causes those attacks are the thoughts of wanting to win so bad that when you lose, it sacres you. Winning brings happinness but losing is almosy equated to failure.