How Much Gambling Money Can I Afford To Lose?

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This question can be answered with one of my favorite life’s meals: fish & chips. Fish and chips are just that simple and exquisite! A piece of fish, batter, potatoes and oil. No complex ingredients, with long baking times nor surprise elements.

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How much money can you gamble?

The exact amount that you can spare to lose. No penny more and no penny less! The way to handle one’s ability to enjoy gambling is by making a budget and absolutely never go over this budget.

Regardless of how much money you make, it is possible to have a gambling budget. That is, of course, if you already gamble. If you have more than comfortable means to make a living and you don’t need to watch your expenses, you’re probably not reading this article. The point is that setting a budget will define how much you can afford to gamble, regardless of whether you win or lose at the game. No extra ingredients. These are generic steps that can support anyone, regardless of their monthly income. Just keep in mind: fish & chips. It’s all about the fish & chips!

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  1. Keep a realistic and detailed report of your or your family’s monthly expenditures. Everything from rent, to groceries or entertainment activities. Take into consideration any necessary savings you might need and leave a cushion for unexpected expenses. Then, the amount remaining is your maximum gambling budget. This budget may never be exceeded, because that would be an extra ingredient to our recipe.
  2. Gambling is part of your monthly entertainment and you need to keep one thing in mind: have fun with the mind-set that you will lose the money of your budget. That money spent should be seen as an investment for your entertainment. Like going to the movies! (If any extra money is made, great.)
  3. If you play online, make sure you set a weekly or monthly maximum. When using an alternative payment method like Neteller to make your deposits, don’t transfer more than your estimated maximum budget. Remember, keep the recipe as it is!
  4. Choose the casino games that are suited for your budget. If your weekly or monthly gambling budget is small, don’t pick the high-roller tables and risk losing all of your money in one shot. If your budget is modest, check out the Slot machines, Card Tables, Table Games or other casino games which allow you to wager small amounts. When you receive payouts, it’s up to you whether to stop while you’re ahead and walk away with your winnings or keep on playing at the risk of losing it all. Just remember, that once your account is empty, there’s no more online casino gaming until you reach your next budgeted period.

Colin Jones

Colin Jones is a born and raised Chicago writer specialized on topics related to the casino and gambling industry. Having years of experience on the field, Colin will keep you in touch with the latest news and advances on the casino industry.

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