We are used to say that a gambler should gamble with an amount he can afford to lose but in the actual sense do we think there is any amount a gambler can afford to lose? When a gambler places a stake what he sees is not the stake but the potential win. This is why when he does not win he panics regardless of how little the stake is and he will always mention the potential win rather than the stake as the amount lost. The gambling system especially sports betting works in a way that as a game plays the value of the stake keeps increasing and what may appear to be what the gambler can afford to lose may rise and become what he can no longer afford to lose and this becomes a source of concern for the gambler if he losses the bet. In fact, if a gambler accumulates the total of what he thinks he can afford to lose he would know that he is losing what he cannot afford to lose. I think that any penny spent on gambling is a money the gambler have decided to sacrifice with the hope of getting a bigger amount and not because he can afford to lose it.
What's your position on this thought?
Bet only what you can afford to lose. This means that if you lose that amount of money there, it won't have much of an impact on your financial situation. And your financial backbone won't break because of that amount of money.
Everyone feels bad when they lose money because people are very emotional about money. So it is natural that if you lose money in gambling, it will hurt you. If your monthly income is $500 and you lose $400 by gambling, then you will never be able to afford to lose it. Because the remaining $100 will not be able to meet your family's expenses. But if you lose $50 by gambling, it will not hurt you, but it will not put you in great danger because you will be able to meet all your expenses with the remaining $450.