Bankroll restored

I am proud to say that my bankroll has been restored strictly from wins to the point before I first met up with TeddyS.

Thanks to everybody for being so supportive during the time that I have had to deal with my struggles relating to discipline.

I am about a month ahead on paying all of my bills (including the mortgage) and I'm using much better discipline to prevent from having to make so many trips to Joker's Wild to piece things back together!

Completely understand if you don't want to get into specifics, but I always wonder what people mean by bankroll. Is this just a pool of money set aside from real life income and expenses specifically for gambling? How do you fund it? Just take $xx out of each paycheck and set it aside? How much is a bankroll as a percentage of income? As a multiple of how much you're willing to risk in a night, or on a hand/roll/whatever?

It sounds like you have a really good balance in life - enjoying a lot of gambling, but keeping it from getting in the way of life's other parts.

Good job! Walking out of Jokers Wild with a wad of cash is an adventure in itself.

Quote: Ahigh

from having to make so many trips to Joker's Wild to piece things back together!

Did you get a part-time job there?

Quote: G71

I always wonder what people mean by bankroll. Is this just a pool of money set aside from real life income and expenses specifically for gambling?

I think it should be. Not sure how you arrive at it. I do try to maintain my yearly losses at 0.1% of all assets excluding home equity and future social security money. For some reason that appeals to me. Someone else could be a reasonable person and arrive at a different figure in a different means. I think you need to demonstrate sustainability to claim it makes sense. Edit: bear in mind 4% of such assets is bandied about quite a bit as a sustainable withdrawal from assets if you want it to last say 3-4 decades. So, IMO gambling losses should be no where near 1%

Total bankroll is some multiple of that. That has to be personal choice.

Quote: Ahigh

I am proud to say that my bankroll has been restored strictly from wins to the point before I first met up with TeddyS.

What did TeddyS have to do with it?

Hey, gamblers have to blame losses on somebody or something other than reality !

Quote: G71

Completely understand if you don't want to get into specifics, but I always wonder what people mean by bankroll. Is this just a pool of money set aside from real life income and expenses specifically for gambling? How do you fund it? Just take $xx out of each paycheck and set it aside? How much is a bankroll as a percentage of income? As a multiple of how much you're willing to risk in a night, or on a hand/roll/whatever?

It sounds like you have a really good balance in life - enjoying a lot of gambling, but keeping it from getting in the way of life's other parts.

My current bankroll is about $2,000 and represents how much I am willing to lose before I declare I am blown out.

Previously, after losing less than $2,000 and declaring my bankroll as being blown out, I spent a lot of my freed up time:

1) Building the throwing machine
2) DD in stock market and doing some six-figure stock trades netting five figures in gains
3) Netted some other financial gains in addition to that, all of which completely eclipsed my losses

I spent about $6,000 on Christmas gifts for my family and did not use any of that money for my bankroll. I've just been grinding on the small money independently.

The whole family is very happy, and things are going great. But when I blew out my bankroll, I was doing absolutely fantastic financially, but yes I have very well defined walls for gambling money, and it's about $2,000 right now.

I am also happy to report that the tungsten die sold for $227!! That made me pretty happy too! But also a pursuit of happiness, no for financial security. I have thousands wrapped up into that still and it's a bigger loss than my lifetime craps play! But to the point, totally independent.

Quote: G71

Completely understand if you don't want to get into specifics, but I always wonder what people mean by bankroll. Is this just a pool of money set aside from real life income and expenses specifically for gambling? How do you fund it? Just take $xx out of each paycheck and set it aside? How much is a bankroll as a percentage of income? As a multiple of how much you're willing to risk in a night, or on a hand/roll/whatever?

I've never really understood this either. I don't have a "bankroll". I have a job, a significant amount of money saved, and I spend a reasonable amount of money (relative to my income) on entertainment. Gambling counts as entertainment, but so does travel, driving (on a track), video games, high-end restaurants, movies, sporting events, concerts, etc, etc, etc. I've never felt the desire or need to separate out those expenses.

I will say this -- my average trip to Vegas is cheaper than my average trip anywhere else...