If your concept of gambling is that you should stop when you run out of money, then you should never walk into a casino. Ever. Even if you put in strict rules like you wouldn’t go beyond the money in your wallet, it’s still not a good indicator for you to stop gambling. Stop because you want to, not because you can’t anymore. Think of it this way, if you eat cake, you only take out a slice because it’s enough for you. But that doesn’t mean you can’t get more if you wanted to. One slice is enough for you because you would feel guilty about getting another slice – because calories, that’s why. Gambling, by analogy, is just like eating cake. Just because you can keep going doesn’t mean that you should. A slice out of your money will do, you don’t have to go and use it all up. If you have $500 in your wallet, why not just settle for spending $100? Whether you win or lose, should never dig a deeper hole than you already have. If you win, that’s great. If you lose, then don’t go beyond $100. That’s gambling for you. The only thing constant is the element of chance. How about if you start winning? The rule of thumb here is that you should quite while you’re ahead. That means that if you feel like your luck is starting to run out, then you should cash out, and you should cash out immediately as well.
