There are no two ways here; don’t join the highly volatile gambling industry if you don’t plan ahead. In short, prepare for all your gambling sessions in advance by setting aside money for this pastime activity. And this should not be money meant for important things like school fees, medical bills, and so on.
But how do you know the amount you need to bet with? Although the so-called ‘betting experts’ recommend 1,000x the minimum table limit, you can use the 50/30/20 rule. In this case, 50% should cater to your basic needs like health coverage and rent, while 30% of your income should cover your wants like betting and entertainment. Then, the 20% should go straight to savings and investment.
But whichever way you choose to create a gambling budget, the core issue is to bet with money you can lose comfortably. And another thing, you can divide the bankroll into smaller units and only use a maximum of 5% of a specific unit per bet. It’s all about discipline here!