Topic: Appropriate percentage of income for gambling - page 6. (Read 1810 times)

Having a budget isnt really that bad but allocating or put up some budget on leisure time is not something worth i would say and its better that those money would be put up on something more useful.Well, each

person does have their own interest and if they do find out that gambling makes them happy and able to enjoy then its their right on what they should gonna do on the money that they are earning.
We are just talking about practicality on here knowing that earning money isnt really that easy and does require hard work.I cant really just believe that there would be those people who are really that
who do really love on spending up money just to enjoy something. 5% on your weekly income? I would say its not much but you should be wary on how much you would be spending overall.

Always be mindful on how much you do spend and you wont really be finding yourself on having that gambling addiction problem on which this is commonly where gamblers do really suffer from.
Always be that responsible and be wary about your actions so that you would be able to avoid some headache afterwards.

I'd like to add upon this previous comment of mine to say that this only ever applies if you want to follow a strict budgeting scheme so you can have some money allocated for gambling, in which case I'd say what the hell and you might wanna get checked cause it's one thing to use spare money to gamble, it's another to literally create a budget with gambling involved. That's borderline Gambling addiction symptoms right there. Anywho, don't gamble belligerently, whether on a budget or a spur of the moment, just make sure you don't go beyond your means and take breathers every now and again especially during games where you tanked massive losses. Recuperating is a really important thing in the gambling world.

what @dezoel is saying is that for a person who only has a single form of income per month which is his salary still has to pay bills like water, electricity, food, children's school that person cannot afford to take 30% of your salary to play in a casino, and this is not just about the casino, a responsible person who lives only on a monthly salary and has bills to pay will not take 30% of his salary to consume alcoholic beverages, having fun out there and then harming the whole family. the most that people who have a single source of monthly income and have a family can do is to take less than 5% of their salary for fun and in that part of fun it would be including gambling and other things like going somewhere

now the scenario changes when it comes to rich people and who have a lot of business, for these rich people they can afford to play every day because for these people the money they lose in a section of a casino, the next day these people they will earn more money from their many trades and recover lost money. for example let's imagine that a rich man has in one of his many bank accounts $2,900,000 so he takes $500,000 and plays in a casino all day and loses all the money. the next day in one of the many trades he makes a profit of 1,000,000$ and puts it in his account that had 2,900,000$ and with that his account will have 3,400,000$

see that even though he lost $500,000 in a casino in just one day, he recovered the next day. so when people ask things like what percentage someone should allocate to play, it becomes a very difficult question to answer because there are many differences in income between people, and also because we all know that in games there is no guaranteed profit, so put money that is can afford to lose

No matter what someone says they gamble for, whether it's for fun or it's to earn more money with the money being spent, the actual reality of gambling is that you are basically burning the money away, whether you are having fun or just getting frustrated by the losses since we all know the eventual outcome of gambling is to lose to the house unless we are extremely lucky and get out of the casino with both our pockets filled with money.

Also, no matter how much of a high earner one is and whether they fulfill their responsibilities or not, 30% is still a very high number to be spent from your total income only on gambling when you can use that money for something more productive and only use a small part of it for gambling if you are doing it just for fun. What's the fun in wasting $600 a week into gambling even if you are earning $2k? You might not have a lot of financial obligations or priorities but you can still use a part of that money into something more productive.

Well the percentage in which I used in gambling is a 2% of my savings and moreover I don't gamble all the time because I am just a new commer in the gambling community so I don't really know a sure game to place a bet on, but with time when I am more familiar with the odds and teams I will increase to 5⅝ because by then I have known some specific sure odds, this is the best way to handle betting so a gambler will not wager more than expected on gambling. Sometimes staking more than the percentage of stake in a bet helps when you won, this makes the whole story interesting to forget those day while one was losing money in bets. 

That's good, if you are not a category that does not have a percentage of your income in gambling, you deserve to be said to be a real gambler, that should be the right step if you want to be called a true gambler, real gamblers usually know that gambling is just looking for fun and happiness nothing more not to seek wealth let alone make a source of income, obviously that thought is very wrong because with such a mindset it is certain that he will become an addict not a gambler.

Gamblers usually know the limits of when they have to gamble and when they have to stop gambling, as long as the mindset is right and does not target the percentage of income in gambling that is played, I also do the same thing, never calculate and present my income in gambling, play and enjoy the game is what a gambler is supposed to do. 

To be honest I think I fall under the category of people who don't actually have a certain percentage of my earnings I use for gambling, I mostly just like to flex it thats whenever am feeling like gambling or I have seen a particular game am much interested in, I just go on all out and place my bet depending on the amount I am willing to spare for that moment.

I've seen countless responsible people, great earners, who enjoy a game of chance. You make it sound like spending on gambling is equivalent to throwing money into a fire. Sure, 30% might seem like a high number, but who are you to decide what's sensible for someone else? Not every individual has the same financial obligations or priorities

You draw this line between addicted gamblers and responsible earners, but that's just black and white thinking. You'd be surprised how many high-functioning individuals enjoy a gamble and still fulfill their responsibilities. Your attempt to fit everyone into these neat little boxes is incredibly shortsighted. Life is more complex than your simplistic categories

I don't believe that a sensible and responsible person who has a job and earns a living will spend 30% of their income only on gambling because that would definitely not fit in their budget if they have a family and has to provide for them unless it is someone who is single, lives alone, don't have many expenses and earns a lot of money, that is when one might be able to spend 30% of their total income into gambling without having any effects on their personal life.

An addicted gambler might do that since they wouldn't think of other stuff much and gambling comes first for them, but an addicted gambler would never be so much responsible to have a job an earn a proper income, and those who earn a living already would barely get addicted to gambling.

That's why we make a budget for gambling so we don't use the budget for other things in our family. If we have good self-control, of course having a budget for gambling really helps us enjoy gambling, and we also have to follow the limits that we set. We shouldn't spend that budget for one day because we already have a schedule for when we can gamble. Perhaps we can make a limit on the money we use for gambling in one day and can't use the money more. If we lose that day, we must leave immediately and may not take the remaining budget because that is the budget for the next day.

I really want to have a budget of funds that I haven't used for a week because that means I don't have to deposit another amount of budget funds for the next week and can immediately use the existing budget. But unfortunately, I can't do it yet because there must be temptations that make me use the budget to gamble.

But I do have limits on gambling, and for now, I'm not betting as much because I really want to reduce my gambling. And indeed, the percentage of the budget we use for gambling will certainly vary from person to person. That's because we also allocate different budget amounts for gambling.

I think the poll could be better, bracketed, and not "less than 30%". It needs to be more specific. 5% is still less than 30% so we are still determining if the members here are sarcastic or just playing with it. You should change it to 5-10% of income or something like that. It's better and more precise when those are the choices.

I can never think of using 30% unless that's your disposable amount, and that's your choice. I hope people who regularly do this can manage their money wisely.

That's a good way of spending your budget for gambling. If you can last your funds for the whole week, it just shows you have discipline to not go beyond of what you only set for gambling.

Well, I have the same strategy but the difference is, If I use my set budget to play I can't divide it for the next day to still have funds if I still want to gamble. I tend to use it all in just one sitting. The reason why I only gamble once a week. Anyway, regardless of the percentage we allocate for gambling, as long as that's the amount that we can afford to lose then there's no issue.

That only applies to him who is too ambitious to win the game, fun is an excuse that is irrelevant to this case, no matter how much money he spends, I think behind the word fun that is said is ambition to win and not feeling satisfied with what he has If you get it, it is very impossible for someone to gamble because they are happy with the game or the stakes, more precisely he is waiting for a bigger multiplier for bigger profits and in my opinion that is what eliminates his awareness that makes him unable to control his finances.

Now that's absolutely true because not of the many gamblers who can track the funds they use because indeed gambling gives pleasure and satisfaction so that gamblers can forget what was spent while on the gambling site.
What's more, tracking or calculating losses will be even more difficult to do I think those who can calculate losses will definitely regret it because they see how much they have lost, while the wins they get are not worth the losses.
But it would be better to be able to calculate it so that every gambler can have a limit to the total amount of money they have.

Allocation of budget for gambling is a better way to spend. Even the allocated fund shouldn't be used on the same day. Most of the people will spend due to lack of control. Just the divide and spend is good, when the days amount is lost one should stop gambling for the day. The next day the mind shouldn't be on recovering the previous day's loss, but just the wager need to be done with the days allocation. This will surely be a healthy way of gambling than losing everything in few rolls.

some people don't have the patience to track the funds they used for gambling because they don't want to face the reality.   let's check the fact that a lot of us usually are on the losing side rather than on the winning side. but if you know the approximate amount you want to spend, there's no problem. but if you go beyond such amount and you actually don't have extra, that's when you will have trouble.

You can try to make a budget for gambling. It is useful to know how much you used to gamble on that day. But don't immediately spend all the budget money instead, try to divide it up for a few days, say a week. Usually, that's what I do for each week, and for example for a week, I make a budget of $25. The amount of money must be enough for a week, and you may not deposit another amount of money if you lose gambling. So with that money, you can gamble for a few days and not bother with the rest of your finances.

But tracking expenses for gambling is very important, don't get used to being biased by the money you are ready to eliminate but you don't know the calculation of the accumulation that you are ready to disappear per week, sometimes in gambling you feel calm because you get a bonus from your work then you enter it into gambling every week on the grounds you are ready to lose it, but if you are traced to more than 40% of your income a month, it will damage your finances of your friends, even though you basically feel free and calm because you do not know the amount of accumulation of money you input into gambling, But in my opinion it is still wrong action.
Do not let your pleasure blind what you should limit.

We should check the two week payment using the last two weeks or three weeks.When the two weeks attain the equal or near value,then it will be your weekly income from the gambling.Then try to increase the same with your efforts.You should increase the average value to 30% about that two week constant value.Some people doesn't attain the value as I had mentioned,but they are most satisfied with the entertainment from the game.So they are most healthy gambler as compared to the more money earning person.Because money earning is simple one but satisfy from the gambling is not the easy one.Only few gambler look the gambling as the entertainment giving game and other think gambling as money making machine.

We just need to check ourselves if we are still doing good and not exceed to the limit we set since if we always surpass to the budget allocated on gambling then we can determine that we are not fine. If we know that we didn't reach the limit and enjoyed the games then for this we can say that we are in healthy state.

Gambling is really fine its just there are people abuse theirselves then end up they can't control anything and mess up everything in their lives.