Managing your gambling budget (inspired partly by Casino Kidds Post)

[bb28]

I was just thinking that this thread might be a good idea and it's probably been done before but maybe we can bring it to the forefront again. It seems like that often times when someone makes a post about having a problem that the thread turns into a hodgepodge of (I do this or do that to control my spending), and it tends to take the focus off of the original post and it shouldn't imo. Casino Kidd gave us a very insightful and thought provoking post born out of his pain, so I just thought that it would be good not to take anything away from it over there, so how about here?

What suggestions can you offer for controlling your gambling budget and not letting it get out of hand in the heat of the moment or worse chasing losses?



For me......using a prepaid card to deposit. That way I have to actually leave my house, go the store, hand the money over and I then have a preset amount. It's not instant gratification and it takes away some of the temptation and possibility of spending too much or more than I intended to.

 

[RobWin]

What suggestions can you offer for controlling your gambling budget and not letting it get out of hand in the heat of the moment or worse chasing losses?

Self imposed willpower is my niche and my suggestion for anyone that has made up their mind that they really do want to control this bad habit. Sooner or later in everyone's life there will come a time when you are faced with a crucial decision and an opportunity to take the bull by the horns and turn your life and bad habits around for the better. It's all in the mind and in each, our own control. No one else can do it for you.

Not a card, not a lack of transportation to get to the store. If you want to gamble bad enough you will find a way and a means to do it just like the person after their next fix of the best drug they know. So if you truly want to control your gambling budget you will first need to cleanse your mind and all of your inner weaknesses with positive willpower thoughts and an open mind and most of all believe in yourself and your own abilities to heal one's self.

Also, it doesn't hurt to read one of the great inspirational, motivational books by

You do not have permission to view link Log in or register now.

. Also a

You do not have permission to view link Log in or register now.

of some of his best selling books.

 

[Tengil]

I once lost a huge amount in a few days (this was at B&M casino) and understood that it could happen online aswell (Im a bit of a degen). So the only solution was to somehow reduce the effects of the tilt factor.

Here is mine:
I have 2 bank accounts at different banks where one is for gambling. First I have to deposit to my gambling account which takes one business day, after that I deposit to Neteller (no fees) which takes 1-2 business days.

The benefits of this is that I can exactly see how much I have transfered to my gambling account. It also takes away the worst tilt factor, I wont end up losing more than I have in Neteller.

The drawback is of course that I have a credit card attached to my main account, but havent used it for gambling and dont even know if it works (Mastercard).

As to date, after I started losing on slots I have pretty much sticked up with it.

The annual costs are 18e extra, so a cheap solution and it works for me (somehow). And if I go to the B&M casino I dont have any cards with me, just cash.

 

[LaurieJim]

I cut mine way back when i started using pre- paid cards, its a pain in the ass to go out of your cozy home at night and drive half way across town, hoping to find a location open, easier to just chill and watch a good tear jerker chick flick imo..................laurie

 

[bb28]

I cut mine way back when i started using pre- paid cards, its a pain in the ass to go out of your cozy home at night and drive half way across town, hoping to find a location open, easier to just chill and watch a good tear jerker chick flick imo..................laurie

I hear ya...I'm out in the boonies and it's a 30 min trip, actually it's a good thing that it is that far, saves me some money and I have to ask myself more than once.

 

[love2winalot]

Hiya: Some more tips. All service providers for casino's , "Neteller, moneybookers, e wallet, ect" have that, "instant deposit" button, at 8.9%. It is not there because they are super nice guys. It is there for when "WE" Lose, get pissed off, use instand deposit so we can get our losses back, NOW.

The Cure, is a gambling bank account. You take your limit you wish to deposit, and place it in this account. This is the account you register with the service provider for the casino. When you have deposited, the only money left in this account is just what is required by the bank to keep it open.

Now you play, and lose. Darn, drats, double drats. You can not do an instant deposit because the money is not there. This now requires extra steps to be taken to fund the account., and this takes time. "Time to Cool down".

Next, and this is a little hard to do, but well worth it. You have re funded your Gambling account. Log into your service provider, and hit, "Normal Deposit", and not instant deposit.

Ah hahahahaha, Now you have a deposit pending for 5-7 days, and can not make another one until this one clears. Plus, you just save 8.9% of the deposit total, and you bought more, TIME.

Time is the key. It is really hard to stay Pissed off for a week. Plus, if you get hacked, there is no money in that account anyway.

 

[gloria460]

For me I pay any bills that I owe. I have everything set up online to come out on a specific day and that's usually when I get paid. On my way home from work I take out the money needed for groceries, spending, etc.. My savings account does not have a debit card. Every two weeks my bank that I save in sends in a request to debit my main account.

whatever is left over is mine to lose or hopefully win. I sometimes get a little frustrated when I can't make another deposit but that quickly passes after a little yard and house work.

This way I can have my entertainment and not feel bad if I lose. Another thing that I do is play in free mode not often but just enough. It has taken me a long time to get to this state and quit chasing losses.

 

[pokeraddict]

I feel fairly sure that you can remove the instant deposit feature at Neteller and Moneybookers. This is instant help. I guess I don't understand the fascination with online slots but if you wanted you could play the absolute highest percentage games as opposed to what seem to be low payback slots. I have to think you can find 9/7/5 or 10/7/5 double bonus or 9/6 JOB or fake full pay 2's. If you play these games by the book your overall losses in the long term will be less than .5% of your wager amount. Of course there is variance.

Maybe the allure of slots is that they are mind numbing and fast. This could very well be the issue, slow it down with VP or a player friendly rules blackjack game. Of course I prefer poker but if you don't have the skills there you will get beat up pretty bad learning.

 

[pevangel]

hi

the prepaid debit is my solution, as stated it is a pain to have to go to the store to load it, and only a certain amount, no more then what my budget allows me. thanks for the post.


pevangel

 

[Jasminebed]

Gotta go prepaid. Need I add never borrow money to gamble?

 

[Pinababy69]

For me......using a prepaid card to deposit. That way I have to actually leave my house, go the store, hand the money over and I then have a preset amount. It's not instant gratification and it takes away some of the temptation and possibility of spending too much or more than I intended to.

Exactly how I feel as well Bonita.

I only play once a week now, unless I've cashed out maybe the week before and have a few extra bucks I've left in Moneybookers....so it's all planned ahead of time for me. It's usually a Thursday or Friday, and I go out to do my banking and shopping. I know exactly how much I'm going to load on my prepaid card, and how many deposits (and where) I have. I usually don't start playing until my daughter is in bed, or out...so that I can sit down and enjoy it.

Like many have mentioned, the pain of having to physically go and load the money sure does make you plan ahead, and budget. No bank accounts tied to Moneybookers or any other ewallet, or to any casino. I use the card to deposit and Moneybookers to withdraw. And when I do get lucky and cash out a decent amount, the second it hits Moneybookers, I withdraw at least 80% or more via cheque, so I'm not tempted to redeposit it back. I will leave a few bucks to play with, but not alot.

 

[classymom]

My gambling money comes from any overtime I have earned - I usually add money either to prepaid card or quicktender on Thursday ( payday) If I win great I will play more, but when the money is gone my gambling is done- Sometimes my money is gone in no time and sometimes I can play for days. I have had my moments in the past where I have gotten way out of control - I have learned to stick to my gambling budget and has worked for me.

 

[XOXOXOXOXOX]

I guess its all about self control. Because for me there is always another option available.
I did not quite get how to disable "instant deposits". Can someone explain how to remove it from casino?

I checked out prepaid credit cards and found that the fees are outrageous.

So i still found no solution that works for me.

 

[love2winalot]

Hiya: There is No Way to disable instant deposit. After all, this is how the service providers make money. You have to click "Deposit" ie the one that says, "Funds will take 5-7 days to clear". On some service providers, the, "Instant Deposit" Box is the one that has the (X) in it by default.

All this does is make you now have to wait 5-7 days to be able to play again. And it saves you some money.

 

[Jasminebed]

BB, I think that you titled this thread managing you casino BUDGET was great...gambling is something I do budget for. I took a day trip on a bus to a B&M today, and low and behold there was a free buffet thrown in as an extra for March, so I am now budgeting to go again next week! Part of that means I won't make my usually Friday deposit online, and that I cashed out out before I spent everything I brought with me today. (only $15 down, that's just like winning!)

I don't expect a "return" when I go out for food or a movie. I don't expect it gambling either. But I would usually choose spending $50 gambling over $50 on a night at the bar. My choice, different strokes for different folks.

 

[AussieDave]

Speaking from an affiliates point of view...

I tend to get large amounts paid to my Neteller account. I have changed payments to Wire so they go to my bank account instead.

I still have amounts going to NT but as soon as they hit or if I'm expecting a few in one day I wait and pull it all out to the card. Probably another reason why I don't want a Neteller Plus+ card

Least with Globe Wallet once it's pulled I can't get my hands on it until it hits the card, then I have to withdraw it anyway because I can not deposit with the GW Mastercard.

I also use a debit via card that I set-up just for online payments. I have to physically go to the bank or post office to load funds. Which can be a real pain sometimes.

Things like this prevent me from blowing too much.

In Oct 2007 I blew close on $10K plus another $20K in winnings in one weekend. Believe me it's not the nicest feeling.

Hence since then I make sure I have not got access to that type of funds online any more.


Cheers

T

PS Great thread btw