This phrase is very famous, and we see it a lot here on the forum and in the crypto world in general (especially altcoins): only invest what you can afford to lose or only gamble what you can afford to lose
It's a phrase that explains well the worst possible scenario, which is that you lose everything
If you lose everything, it has to be money that you won't miss, that isn't essential for you
In my case, I've always been aware of this, and since I bet for fun, I am fully aware that I can lose all of that money and it won't affect me financially
This should be the mindset of every gambler, but sad to say majority are still gambling to make more money, and those who have been playing for money are mostly spending some amount that they aren’t convenient of losing.
This is the reality with majority of the gamblers, that’s why a lot have end up losing a lot and even get broke, but only few who have succeeded the challenges in gambling. Good thing I’m not one of those who play and expect instant profits.