Topic: Appropriate percentage of income for gambling - page 13. (Read 1810 times)
Probably below 10% of my total income for the Month since I don’t gamble always and spending weekly might not be ideal for me. Having this limit is ok as long as you commit on that and make sure not to go beyond or else you might be addicted to gambling. There are some gamblers who have this budget limit but still able to enjoy gambling, so don’t think that if you have a small capital you can’t enjoy gambling anymore.
I use 5% of my weekly income to gamble and I can not go more than that. Sometimes I can be busy and I can spend less. If a week favours me, I will save my profit and the remaining (5% last week income) for next week gambling. According to what I heard, people spend up to 12% of their weekly income on gamble. I think it is not bad but that gives me the thinking to make a post like this on this forum. What percentage of weekly income do you think is right for gambling?
Gambling is not by force so whatever way you want to gamble is you decision. If you think 5% is only for you in the week and you are okay for that then it is nice. That 12% you are mentioning is under probability, there are some addicted gamblers that spend more than percentage per week. In gambling if you spend big and you have luck to win one game, you will win big so gamblers also look those factors to gamble. As for me there is no specific percentage for weekly gambling. You can gamble any amount of money but gamble what you can lost. The amount that when you lose it will not pain you.
I use 5% of my weekly income to gamble and I can not go more than that. Sometimes I can be busy and I can spend less. If a week favours me, I will save my profit and the remaining (5% last week income) for next week gambling. According to what I heard, people spend up to 12% of their weekly income on gamble. I think it is not bad but that gives me the thinking to make a post like this on this forum. What percentage of weekly income do you think is right for gambling?
Risking 5% of your earnings on gambling I can't say that is a bad idea, but I can rather say that you have to find a good strategy to minimize your risk in gambling. I believe if others can go with this percentage of their earnings, many will not complain much about gambling again. To minimize risk in the gambling industry, you should only bet with what you can afford to lose, like money that if you lose, it will not affect you in any ways. Many people perceive gambling as a bad thing because of the way they gamble, especially in high-stakes games with the aim of winning big. I believe that anything we don't have assurance over, we should limit our risk by no putting a large amount thing like that.
I don't budget a specific percentage of my income for gambling because I don't gamble every often. However, whenever I do want to gamble, I only use money that I can afford to lose to gamble because that shouldn't have any lasting effects on me. As a result, whenever I am staking, I only stake with small amount money because I view gambling as a way to have fun rather than a way to and become wealthy as some people are thinking
Bringing out a certain percentage makes one to know when to stop gambling especially when there little or no winning by the gambler
Good for you if you can live with that kind of setup, but in my honest opinion I'd never go as far as 2% when it comes to filling my bankroll especially if it's on a weekly basis. Suppose your regular weekly salary's around 200 bucks, if you go so far as to put up 5% of your weekly profits just so you can fund your gambling behavior you'd be surprised to find out how much it eats up at your expenses. In my opinion you shouldn't even gamble weekly, only on occasions when you feel like it. You can't just say that you're "gambling for entertainment only" cause if you were, you wouldn't even allocate a part of your pay just so you can fund your gambling habits.
But let's throw that off to the window and talk about the crux of the matter. For me, you could probably get by with just at least 2% of your monthly salary if you're really a dedicated gambler. If you're afraid your bankroll's gonna be so low then I have bad news for you buddy, you're probably addicted.
But let's throw that off to the window and talk about the crux of the matter. For me, you could probably get by with just at least 2% of your monthly salary if you're really a dedicated gambler. If you're afraid your bankroll's gonna be so low then I have bad news for you buddy, you're probably addicted.
Way less then 10% I'd say safest is about 1% or just about the same amount you would commit to spending on a leisure activity. The problem develops where people confuse spending which gambling really is with the returns possible and call it money making. Some end up spending 100% of income and thats drastically going to lead to a bad place, treat the money as spent and any back as a bonus and it should be right.
I use 5% of my weekly income to gamble and I can not go more than that. Sometimes I can be busy and I can spend less. If a week favours me, I will save my profit and the remaining (5% last week income) for next week gambling. According to what I heard, people spend up to 12% of their weekly income on gamble. I think it is not bad but that gives me the thinking to make a post like this on this forum. What percentage of weekly income do you think is right for gambling?
Risking 5% of your earnings on gambling I can't say that is a bad idea, but I can rather say that you have to find a good strategy to minimize your risk in gambling. I believe if others can go with this percentage of their earnings, many will not complain much about gambling again. To minimize risk in the gambling industry, you should only bet with what you can afford to lose, like money that if you lose, it will not affect you in any ways. Many people perceive gambling as a bad thing because of the way they gamble, especially in high-stakes games with the aim of winning big. I believe that anything we don't have assurance over, we should limit our risk by no putting a large amount thing like that.
I don't budget a specific percentage of my income for gambling because I don't gamble every often. However, whenever I do want to gamble, I only use money that I can afford to lose to gamble because that shouldn't have any lasting effects on me. As a result, whenever I am staking, I only stake with small amount money because I view gambling as a way to have fun rather than a way to and become wealthy as some people are thinking
This is something that we often discuss. Sure, it is better to limit the amount of money to avoid gambling excessively. The ideal of gambling budget may be different among people, but personally I also never use more than 5% of my weekly income. That's because I don't gamble daily, I just gamble when I have spare time. I assume people who gamble on daily basis can spend more money. They can use more than 30% if they don't limit the budget for gambling weekly.
I use 5% of my weekly income to gamble and I can not go more than that.
That's certainly good, obviously you have shown a good limit in the use of budget for gambling. I believe it is the recommended way to never run into financial problems from losing gambling, but some people continue to lie about the amount of money they spend on gambling.5% is not a lot if you have $200 as a weekly income, but if you spend 10% - 50% of your total income then you are really going to be in trouble in the long term. There are more needs to be met than a desire to gamble, so setting deposit limits or limiting the use of money at gambling is a very wise idea.
What percentage of weekly income do you think is right for gambling?
So far I haven't gambled, at least in the last few months. But some time ago I spent 10% - 20% of my total monthly income just to gamble. It's not very often, but I think it's a pretty big amount to spend in a week. 
I use 5% of my weekly income to gamble and I can not go more than that. Sometimes I can be busy and I can spend less. If a week favours me, I will save my profit and the remaining (5% last week income) for next week gambling. According to what I heard, people spend up to 12% of their weekly income on gamble. I think it is not bad but that gives me the thinking to make a post like this on this forum. What percentage of weekly income do you think is right for gambling?
What a nice percentage you sticking to and having not to go beyond such percentage but rather go below due to some engagements of yours. But everyone wouldn't keep to same 5% weekly you know. The percentage we budget for our weekly or monthly gambling expense is strictly not determined by the amount of salary or income we make but on our attitude. If anyone lacks the right attitude to gambling he can keep a 5% or 10% budget and still end up squandering 50% if he lacks a right attitude to gamble. Don't you think so?
5 or 10% seems pretty ideal. however, it could also depend on some crucial matches. in fact, I can gamble with a sizable bankroll. I mean, big in my version. for betting on the leagues in general a small bankroll is enough for me for entertainment. however, if there is a certain big match match, the nominal value can be quite large. even then, it depends on how confident I am after I do the analysis. in essence, things don't always have to be the same. I can even not gamble at all, if I have a very busy job.
For gambling based purely on luck, to be honest, I don't dare to gamble with big bankrolls. in fact I usually only play the lowest bet per spin. yep, only for entertainment purposes, especially after doing routines on the sidelines after work. moments after being tired from work, can be channeled into various slot games and can be very relied on as relaxation. conditionally, as I said. play with a small bankroll even per spin at the lowest stakes. the goal is not money, but entertainment. different from football, as I said above.
For gambling based purely on luck, to be honest, I don't dare to gamble with big bankrolls. in fact I usually only play the lowest bet per spin. yep, only for entertainment purposes, especially after doing routines on the sidelines after work. moments after being tired from work, can be channeled into various slot games and can be very relied on as relaxation. conditionally, as I said. play with a small bankroll even per spin at the lowest stakes. the goal is not money, but entertainment. different from football, as I said above.
It is an interesting topic to discuss and hear different perspectives of the forum community.
I agree, it's a pretty cool thread to compare our habits with other users.
In my case it is a little bit difficult for me to make a percentage. I usually set aside an X amount, for example 50 dollars for an X championship, 100 dollars for another championship.
World Cup and champions league for example I use a larger amount. Championships that are the first time I bet I use a smaller amount.
So I guess my standard would be to split it into parts. There will be months when all the leagues start so there will be a peak and I will use more than 10% of my income, while in other months I will use practically nothing.
Does anyone else do it this way?
I use 5% of my weekly income to gamble and I can not go more than that. Sometimes I can be busy and I can spend less. If a week favours me, I will save my profit and the remaining (5% last week income) for next week gambling. According to what I heard, people spend up to 12% of their weekly income on gamble. I think it is not bad but that gives me the thinking to make a post like this on this forum. What percentage of weekly income do you think is right for gambling?
I appreciate this thread,it is like an advice to gamblers who don't have a specific percent of their weekly income that they put into gambling. 5% is a good fraction for a gambler not to over spend on gambling so that he doesn't regrets his actions because in gambling the house edge will always win. I love your strategy and I will always use this fraction of my income for my gambling activities. This will also save one from becoming an addict because just 5% wouldn't be too much. It is not easy to adopt this method because some people can't control their gambling activities. 
It is always better to gamble what we can afford to lose. If I am earning $1k a week, I would gamble less than $20-$50 a week since if I lose the $50 I won't be under a distress situation. As you have stated in the thread, if we are gaining profits, saving the profits and gambling the remaining amount would be safer. If your gambling money is relatively lower, you can take higher risks and eventually you may end up gaining huge profits or losing them altogether.
Gambling may be dangerous as it can trigger the dopamine in your brain which can lead us to spending increased % of money. Hence, gambling responsibly is always safer and staying away from intensive gambling arenas would be easier for us to manage the risks.
Gambling may be dangerous as it can trigger the dopamine in your brain which can lead us to spending increased % of money. Hence, gambling responsibly is always safer and staying away from intensive gambling arenas would be easier for us to manage the risks.
What might be reasonable for one person may not be for another. In any case, we should all be aware of our financial circumstances and limitations.
It is in percentage, not amount. In trading and gambling that are very risky, percentage is used to know someone's threshold in amount of money to be used to gamble. The money should be small in percentage to the extent that if the person lose the amount, there will not be any problem. 5 to 6% is good but I prefer 5% or less. Sometimes I go for less percentage like 2%, but I go most for 5%.I understand that it is a percentage and not a fixed amount, but even so, relying solely on percentages can also be misleading. Let me give you an example: I personally spend less than 50% of my total income on regular expenses, which means that for me, 5% would not have the same impact as it would for someone with a limited income who needs every penny just to cover their current expenses.
That's why I said that everyone should be aware of their financial capabilities and make wise spending decisions.
I only gamble occasionally but as much as possible, I only allocate 2% of my monthly income for gambling but that doesn't that I would use that allocated budget in just a single bet. I devide that budget for the whole month of my gambling journey. It all takes a lot of courage to have the right control of our urges to gamble. There are actually times when I don't use the whole 2% allocated gambling budget that I have.
Allocating funds for gambling would be good but it would still be better if we'll manage our finances wiser by focusing more on saving and investing than always risking it in gambling.
Allocating funds for gambling would be good but it would still be better if we'll manage our finances wiser by focusing more on saving and investing than always risking it in gambling.
I use 5% of my weekly income to gamble and I can not go more than that. Sometimes I can be busy and I can spend less. If a week favours me, I will save my profit and the remaining (5% last week income) for next week gambling. According to what I heard, people spend up to 12% of their weekly income on gamble. I think it is not bad but that gives me the thinking to make a post like this on this forum. What percentage of weekly income do you think is right for gambling?
I have a few questions. Why did you decide to spend 5% of your weekly income on gambling? What do you plan to do with potential gambling winnings? Have you asked yourself the question: how much money do you need to win to stop gambling? I think you need to answer these questions for yourself before you gamble. I use 5% of my weekly income to gamble and I can not go more than that. Sometimes I can be busy and I can spend less. If a week favours me, I will save my profit and the remaining (5% last week income) for next week gambling. According to what I heard, people spend up to 12% of their weekly income on gamble. I think it is not bad but that gives me the thinking to make a post like this on this forum. What percentage of weekly income do you think is right for gambling?
For me, there is no limit to how far I can go but then I don't deposits more than 20% of my earning in my casino account and I don't do that regularly and if I get lucky to win my games and earn extra money I normally withdraw everything and any time I want to gamble again I have to make a new deposit that way my the available balance won't tempt me to gamble too much beyond my set limits. The percentage of gambling spending is something that we can generally agree on because sometimes the casino gives you extra money to gamble with in the form of a bonus or take back and in a week we're such bonus is given, a gambler may exceed that set percentage play.
I also don't plan how much is to be spent every week on gambling because it varies to which team and whoever is in the matches and also varies with the odds. When their odds are good, I'll try to put in a bigger amount to win at least a considerable win.
Limiting how much you can bet is also limiting how much you can win. Unless you are on the lookout for the underdog teams that might win which $10 bet could win $200.
Or a Parlay which is totally acceptable if you try your luck.
I think you should include the percentage of income you use for gambling on your total entertainment spendings percentage. If you allocate 20% of your earnings to entertainment, you can use that whole sum for gambling or just 1% of that, depending the week and your current necessities. I say that, because sometimes we are bored of the same entertainment activities, so we have to find something new to have some fun.
When you are tired of gambling, you can use a minor percentage for that hobby, while when you are tired of eating out, going to the movies or going out with friends to the nightclub, you can spend a higher percentage with gambling to diversify your activites.
When you are tired of gambling, you can use a minor percentage for that hobby, while when you are tired of eating out, going to the movies or going out with friends to the nightclub, you can spend a higher percentage with gambling to diversify your activites.
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There's this saying in my place that "one should cut their suit according to his or her size." I don't think it's bad for someone earning $200 per week to spend 40% of their earnings on gambling. For someone also earning $100 per week, it is not bad for them to spend 20% per week. So, it all depends on how much the person is earning. Perhaps someone who is earning up to $2k in a month can gamble with 10% or 20%, depending on what they want and if it doesn't affect their budget or if they are not doing it out of self control. In my opinion, depending on what you are earning will determine how much you can spend on gambling. I see some people placing bets of $200, $100, $50, $150, and more on just in a day, and I really do ask myself how much this person is earning per day or monthly. Someone has gambling off more than $500 in a day, and that's the money that some people will need to work a full month before they can receive such a salary, while some people's monthly salary is not even up to that amount.
I use 5% of my weekly income to gamble and I can not go more than that. Sometimes I can be busy and I can spend less. If a week favours me, I will save my profit and the remaining (5% last week income) for next week gambling. According to what I heard, people spend up to 12% of their weekly income on gamble. I think it is not bad but that gives me the thinking to make a post like this on this forum. What percentage of weekly income do you think is right for gambling?
For me, there is no limit to how far I can go but then I don't deposits more than 20% of my earning in my casino account and I don't do that regularly and if I get lucky to win my games and earn extra money I normally withdraw everything and any time I want to gamble again I have to make a new deposit that way my the available balance won't tempt me to gamble too much beyond my set limits. The percentage of gambling spending is something that we can generally agree on because sometimes the casino gives you extra money to gamble with in the form of a bonus or take back and in a week we're such bonus is given, a gambler may exceed that set percentage play.
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