Topic: Appropriate percentage of income for gambling - page 10. (Read 1634 times)

I don't agree with that. Since gambling is not a business which you can create a streaming income from it in the long term, then gambling should only be an entertainment for the player. It is the casino's job to make money, not the players. Players should lose the money but get some entertainment while doing so. That's also the reason why I mostly prefer the real life casinos over the online casinos because there are lots of entertainment in those casinos. (free booze, good looking girls etc) Online casinos did a good job during the covid19 shutdowns though real life casinos will always be the king of entertainment.

I would like to hear about some of the ways to have fun without spending money. Nothing is free these days, entertainment can cost less or more, but generally, more money means potentially more fun. But definitely, if we wish for some fun we need to spend some money. I am not sure if it's relevant, but some people spend money and risk their lives just to feel the rush of adrenaline while jumping from a plane or mountain... well, I would rather risk my money in the casino while sitting in my chair. For me, there's some fun in "risking money" while playing some games I love, and I choose to do that rather than something else.

Some people take gambling more seriously, but they are not playing slots probably... or other -ev games.

It's the wrong mindset for me to take gambling just for fun.

Taking gambling as fun will surely lead to something sh*t later on. For example, if a person wants to allocate 5% to 10% of their income or salary for gambling just to fulfill their fun in gambling, are we sure if they lose that percentage of their income, their fun will stop there? Definitely no in most cases. Instead, they will push far and breach that percentage to gamble more and that is where sh*t happened.

Don't take that reason to gamble just to have fun. There are lots of ways to have fun without risking money.

It's not with the percentage of the income to be used on gambling but regardless, just always be disciplined in managing our money.

Well, each person allocates their budget to cover their needs, and if 5% is enough, it is up to the person, personally I would not allocate that much, 5% is also enough money for me, although it does not represent much, but at Sometimes basic needs can be covered, this is something we must point out, in any case, if that 5% is what you are used to, it seems to me that it is fine, each one has different capacities Now, as they have said, 12% It's really something I could never do, because of my responsibilities, but if one person does it, I think it's super cool.

Well, I don't know what the other players have in mind, but I think that all this imposing a percentage is based on income, because 5% cannot be allocated from a low income because otherwise it would not be able to cover all needs, this is something that must be taken into consideration, now if the person has a good enough income, it is nothing to do 5% or 12%, some 20%, this implies having enough income to do that good spending.

In any case, in terms of expenses for services, what the person considers seems good to me, it's not even 1%, I don't know what the person's expenses are like, so sometimes we must have a little awareness, although a 1% for some can be very high, so sometimes the different economic situations can vary, the best thing is always what the person has to have fun.

Gambling should be taken just as that, as fun, we can never consider it as an option to earn money on the swear, or as an income as well as a job, because that is the worst mistake that can be made, that is where everything begins to divert. Related to addiction and another series of problems in a person who are not adequate, responsibility above all is what frees us from bad omens and when it comes to casinos, sports betting, that care must be taken.

For me 5% is still too much for a weekly budget if it's only allocated for gambling. Too risky even though the benefits can be multiplied though. My intention is to bet quite simply with minimal capital in the end, I will still spend it at the casino, especially if with a large budget I can easily lose quickly. To gamble for me is throwing money away, isn't that the point? there is no stable percentage for gambling. This is based on what I experienced, so it can be different according to each version.

This depends on your own income's size. Some people only need %10 of their monthly income to survive. Some people need at least %50. In my current position I would safely use at least %3-4 of my weekly income because I don't personally have no big expenses. %5 feels like bit too much to me if you are especially feeding mouths of a family of three. I think my own gambling returns would affect it too. If I could generate all money I spent back I would gradually increase portion to use at gambling surprisingly. Most people are very worried to calculate such funds.

10% to 15% I think it's something normal for me to use in gambling, but there are exceptions.

Recently I have been betting unevenly, I only see the situation and the odds of the game I want to bet on, because I rarely make bets in types of bets such as slots, poker, craps and so on, because I only focus on one type of bet, namely sports, for that the percentage of income that I play in sports betting can be said to be 10-15%, maybe occasionally it can be up to 30%, but not often, depending on the circumstances of the sports team and club.

Conclusion: the income or percentage that I bet for gambling, is not balanced, depending on the situation, it can be a small or large percentage.

Are we talking about income on signature campaign that pays in BTC? Though there are other jobs which also pays weekly but most of them pays every 15th and 30th day. I don't know if what was your weekly salary OP but 5 percent can be huge or small depending on how much we are earning per week. I earn like $70 per week so for me a less than 10 percent of it is already a good amount to gamble. It's not that high or too low.

It's just enough to make a good number of rolls and earn something decent once I get lucky. There is no fixed percentage, if that is what you want to know because not all people have the same capacity.

actually this is a personal problem that only that person can think about and the answers that appear are definitely different.

I use 20% of my weekly income for gambling, it's never less or more, compared to the percentage you give maybe it's quite high but I discussed this with my partner and he's okay with it, but when I go too far I want to use it more funds, he will definitely scold me lol.

for all, avoid gambling beyond capital that you cannot cover and never use emergency funds or debt to gamble, that is very risky.

Despite the fact that one is involved in other things, they can still have little free time to gamble. I am also a very busy person from Monday until Friday (mostly Mondays and Tuesdays), but I still have time to gamble, although when I am too busy with activity during some weeks, I don't find time to gamble. But it doesn't mean I still don't get my mind running through it, and yet I can't help but concentrate on the work that really mattered at that moment. Who knows if, by the time I am married, I might even have time to gamble at all?

Should we use percentage of our income to calculate about how much to spend in gambling? I dont think so..
Why? Because it means that if you huge income, then you will spend huge amount for gambling as well which is not that good.
Lets say you have a weekly/monthly income about $100k and you set 5%-10% for gambling, means that you will spend 5%*100k = 5k-10k
It is wiser if you spend what you can afford to lose only, the most important thing is to spend your income to your daily needs first.
Our weekly/monthly needs is not stable, sometime we can spend less some other time we are forced to spend more.
Once we can spent our income for our important things first then we can start to calculate how much to spend in gambling.

As long as we are in the space, we ought to sort out way to survive. Gambling is the last thing on my mind because I have other important resources that I prioritize. I took care of my family because I am the breadwinner, then I focused on extracurricular activities that provide some extra money for my pocket, which I then divided between my recreational interests, gambling being one of them. Straight 10% goes to that area without hesitation, and while I occasionally record losses that are manageable, I frequently generate profits that come with substantial benefits.

I hadn't considered this recently, but I believe that allocating less than 10% of your income for gambling is the best approach. Of course, this may vary for different individuals.

It's essential to allocate your income properly for basic needs, emergency funds, and other necessities before considering spending on gambling. Always prioritize responsible financial planning over entertainment expenses, including gambling.

I think if you see gambling as entertainment, then you should look at your overall percentage of what you set aside from your monthly budget for entertainment and then decide what percentage of that goes towards gambling. The problem are, many people take the whole percentage of their entertainment budget and use it for gambling and then take some money from their other expenses too.... and then they run into problems.

As soon as you find yourself in a position where you start taking money that was supposed to go to paying other expenses, then you should consider finding help for gambling addiction. 

In my case, 5% would be a reasonable amount since that's what I can afford to lose. But i'm not playing weekly because I usually allocate money for leisure from my real job and that's every two weeks. After budgeting the essential things, I set aside the money for my "me" time and that includes the budget for gambling.

There might be gamblers who can spend more but I don't see any problem with that. As long as it's the money that you can live without (and you already attend to what needs to prioritize first) then you can do anything that can satisfy yourself.

A rich person who earns 100k will not be able to live on $400 a month, he will have much greater expenses, and besides, a person with such an income level does not just earn that kind of money, which means he understands how to handle money and understands how much can be allocated for gambling so that it does not become a problem for him in case of a loss.

The highest amount I can spend or used to spend on gambling is 40$ and that's once in a while, most times I use less amounts like 20-30$ because this money comes from a different side of hustle, it has nothing to do with my main business offline and I am happy with it, I don't gamble every time too because that amount don't use to come every week, some times it takes two weeks for me to have spare 30$ left on me doing nothing, everyone has their target and responsibility offline, do not let gambling take that away from you, doing this secure your mental health and also your future too.

The lack of these is why we have gambling addicts that destroy their lives because they failed to do some calculations on their income and they use every month that comes their way to gamble.

No extra income, there should be no investment, No extra income? There should be no gambling for you, fix your jobless state first and get a life before coming near gambling, because gambling is not a secure way to make money.

But still though, perhaps majority here is not running on budget. Maybe they will just play on a single day and that's it. Or maybe occasional betting on the side, like sports betting. But for casino lovers who play slots or like blackjack and roulette, maybe there are no specific budget at hand. And if there are days that they continue to win a lot, then they will also go back the next day with that money and try if they can duplicate their winning strategy. Of course, everything will be in the end, regrets and what if scenario. But at least they could have enjoy their runs and most likely will go back again the next day.

A gambler who get rekt isn't only the poor, so regardless how much they earn in a month, any gambler need to allocate how much they can afford to lose in gambling. Let's say @retreat only earn $500/month and he need to spend $400/month for his daily needs, so he still have $100, he can allocate $10 for gambling and $90 to save. But what if there's a rich person who earn $100,000/month and he only need to spend $400/month, but he gamble the rest of his money $99,600? this would ruin his life.

It's great if you can adjust the funds to gamble every week or every time you want to gamble. Not many people can do it so it is an advantage for those of us who can manage the amount of money to gamble. We must try to stay on track to avoid overdoing it in gambling. And it is true that if there is a financial obligation, we must put it first and postpone gambling because we can gamble whenever we want. Don't let gambling make us forget to fulfill our financial obligations because that will get us in trouble.