Appropriate percentage of income for gambling - page 8.

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Quote from: maydna on August 06, 2023, 09:51:03 AM

That means the amount we use must vary and depend on our income. If we are more concerned with daily needs, maybe we won't use the money for gambling or perhaps we only use a little money like you do so it won't interfere with our finances in a month. But if someone allocates a certain amount of money, that's also okay because maybe they have plans other than gambling. We must remember that our needs in life are different from other people.

Gambling budget shouldn’t be dependent on your income. It should based on the amount which you can afford to lose. If I have 500$ salary and using 2% percentage on gambling then it means that I should increase my gambling budget whenever I will have a salary increase?

I don’t consider much the percentage because I have fixed amount of budget dedicated to gambling regardless of my salary amount because that is the amount I’m comfortable to gamble.

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Quote from: naira on August 06, 2023, 09:47:27 AM

I'd honestly agree to budget 2-5% and not more than that if you feel like a regular gambler like me and a few other users. In the case of this percentage, I'm just being private so I don't say that to the people closest to me for many reasons that make sense especially the paradigm in my place, gambling is an activity that is considered bad. For me personally as long as the money doesn't come from loans it doesn't matter because we also need entertainment and it happens that this type of entertainment is in casinos.

I once asked several friends and they also said the same thing and with reasonable reasons to limit losses every week.

Yes, I agree. For me it is actually enough because I am not a regular gambler I only play when I have time and when I need to clear something on my mind. In that case I can limit myself from gambling too much and I already have the discipline to myself in terms of managing my money in gambling. But well I think it depends on your capacity and income as well.

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Quote from: tusandii on August 06, 2023, 07:37:54 AM

Quote from: Outhue on August 06, 2023, 05:02:23 AM

I won't dare gamble with 5% of my income for gambling every week, that's a lot in a month's time, I would rather invest the money into Bitcoin as this is a guaranteed investment over gambling, I am a businesswoman and I have my own fashion home, my gambling every week depends on how much I make in a week, so I don't have a fixed budget for gambling, but I always make sure that 2% of my money I make per week will go into gambling, it's not a must, if sales aren't looking good for that week I won't gamble, it's not as if I am even making a lot from gambling anyways.

It's safe to say that my gambling decision depends on how much I will make in the week

That's good, it means you have limits that allow for budget overruns to not occur in gambling.
There are many gamblers out there who cannot manage and limit the budget to use for gambling and on average make a gradual deposit where at the beginning of the game session they deposit $ 50 and after a while they will deposit again and continue to do it even worse until they run out of all the money they have owned.

Setting a budget limit based on a week's earnings is also a good thing to do and I still do it to this day.

Allocating around 2% of your weekly earnings for gambling makes a lot of sense. It's like a little side bet that you're comfortable with, and you're being flexible based on how well your business is doing that week. So, it's not about going all in, but rather making a calculated choice based on the bigger financial picture. It's like playing the game with a strategy that suits you, and that's a win in itself.

It's like keeping a guardrail on your gambling adventure, preventing any wild financial rides. I get what you mean about some folks by going all in without a thought – it's like they're trying to catch a wave without a surfboard. But hey, your method of setting a limit based on your weekly earnings is a wise strategy.

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Quote from: QueenVera on August 06, 2023, 10:25:35 AM

What I think is that there's no specific percentage of amount that seems very right because it varies for different individuals depending of the amount of income they recieve as salary if a 12% of a persons income is used as a spare money and could afford to risk losing it to gambling the it's appopriate but if it's something that could cause financial unstabilty and affect other basic needs then it shouldn't be considered.

Choosing 5% to gamble is very good. That is the highest amount that I can go for. But I do not think that saying no specific amount that seems very right is not right because no matter how high the money is, the higher the amount used the higher the person will gamble irresponsibly. People plan for future, if someone is not having financial instability but using the money he supposed to do become good in life and become bigger person to gamble, that is not also good because the person will think of past and be remorseful. I can afford to lose 50% of my income without no financial instability and I will also be able to afford basic needs, but I prefer to go for 5% which makes gambling fun for me without thinking of my lost money in the past after I was not addicted anymore.

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Quote from: Oshosondy on July 14, 2023, 06:12:59 AM

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 I think is that there's no specific percentage of amount that seems very right because it varies for different individuals depending of the amount of income they recieve as salary if a 12% of a persons income is used as a spare money and could afford to risk losing it to gambling the it's appopriate but if it's something that could cause financial unstabilty and affect other basic needs then it shouldn't be considered.
And I belive that 5% of your income is very okay for you to consider gambling with, without feeling remorseful that why you decided to stick with it and not exceed that limit, it is always advised that people should use their spare money to gamble and it can be any amount that wouldn't affect one's budget or other important bills, for instance when i get my weekly income i make sure i settle my debts and pay other bills then any money remaining is what i use to gamble and i don't spend it recklessly on careless bets and greedy games.

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Quote from: hyudien on August 06, 2023, 07:27:24 AM

Quote from: Oshosondy on July 14, 2023, 06:12:59 AM

What percentage of weekly income do you think is right for gambling?

In the past maybe I was quite active in allocating a percentage of my finances for gambling, but not anymore and I only bet very small amounts to just play games. Because more and more I realize that gambling does not have to be taken as a serious option to make it part of the mandatory financial allocation. Out there, people who do have some kind of card game skill still make sense to allocate a financial percentage but if only as a gambler who relatively plays in games based on luck, my advice is that it's better not to do the same thing because the risk of losing is greater than the profit.

That means the amount we use must vary and depend on our income. If we are more concerned with daily needs, maybe we won't use the money for gambling or perhaps we only use a little money like you do so it won't interfere with our finances in a month. But if someone allocates a certain amount of money, that's also okay because maybe they have plans other than gambling. We must remember that our needs in life are different from other people.

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Quote from: ethereumhunter on August 05, 2023, 09:47:34 AM

Quote from: Oshosondy on August 05, 2023, 08:28:14 AM

Quote from: leonair on August 05, 2023, 08:08:45 AM

A profit limit of 5% per week is not a big target that can be met and it is possible to earn from gambling with such a small target because those who want to get rich in a short period of time are the ones who suffer greatly from gambling. Gambling with a limitation is a good strategy. Because it helps to control our-self which saves from many big losses. Greed destroys people and that's why those who want to get rich quickly from gambling they are the ones who end up in danger and at some point fall into deep addiction of gambling

You are right, but even with the low amount of money, peope should not think of gambling as a way of making money, the 5% I go for is the amount that I can lose and never thing about it. I mean I can be able to afford to lose 5% of my weekly income to gambling. To make profit is not what I can think about while gambling because if not taking gambling as fund it may lead to using high amount of money.

5% is an acceptable amount because it's not too big but we have to keep maintaining that amount so it doesn't get big. And even though we will lose after playing gambling, with that 5%, our losses will not be too much so we can still save another amount of money. We can save it until a few days later or next week to play gambling. And it's good if you don't think about making a profit from gambling because it helps you to avoid gambling addiction so you can control your gambling.

I'd honestly agree to budget 2-5% and not more than that if you feel like a regular gambler like me and a few other users. In the case of this percentage, I'm just being private so I don't say that to the people closest to me for many reasons that make sense especially the paradigm in my place, gambling is an activity that is considered bad. For me personally as long as the money doesn't come from loans it doesn't matter because we also need entertainment and it happens that this type of entertainment is in casinos.

I once asked several friends and they also said the same thing and with reasonable reasons to limit losses every week.

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Quote from: Oshosondy on July 14, 2023, 06:12:59 AM

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?

Like you and the majority here on the forum I use 2-5% of monthly income for gambling activities. Having a fixed percentage of my income for gambling is the best risk management tool. With my fixed budget I can choose freely if I want to play poker, slots, other casino games or bet on sport matches. As long as I don't use more money on a monthly basis, I will add any unspent money to my next monthly basis. An important difference is that I try to preserve my winnings as much as possible. So, whenever I have a decent win I will take that money out and save. At least for me it's important to keep a difference between my monthly budget and how much I win. Especially in poker I try to keep building my bankroll to slowly move up the blinds. Without having a growing bankroll it's difficult to survive a losing streak. Now I am curious how anybody can use 30% of his income for gambling alone over a long period of time.

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Quote from: Outhue on August 06, 2023, 05:02:23 AM

I won't dare gamble with 5% of my income for gambling every week, that's a lot in a month's time, I would rather invest the money into Bitcoin as this is a guaranteed investment over gambling, I am a businesswoman and I have my own fashion home, my gambling every week depends on how much I make in a week, so I don't have a fixed budget for gambling, but I always make sure that 2% of my money I make per week will go into gambling, it's not a must, if sales aren't looking good for that week I won't gamble, it's not as if I am even making a lot from gambling anyways.

It's safe to say that my gambling decision depends on how much I will make in the week

That's good, it means you have limits that allow for budget overruns to not occur in gambling.
There are many gamblers out there who cannot manage and limit the budget to use for gambling and on average make a gradual deposit where at the beginning of the game session they deposit $ 50 and after a while they will deposit again and continue to do it even worse until they run out of all the money they have owned.

Setting a budget limit based on a week's earnings is also a good thing to do and I still do it to this day.

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Quote from: Oshosondy on July 14, 2023, 06:12:59 AM

What percentage of weekly income do you think is right for gambling?

In the past maybe I was quite active in allocating a percentage of my finances for gambling, but not anymore and I only bet very small amounts to just play games. Because more and more I realize that gambling does not have to be taken as a serious option to make it part of the mandatory financial allocation. Out there, people who do have some kind of card game skill still make sense to allocate a financial percentage but if only as a gambler who relatively plays in games based on luck, my advice is that it's better not to do the same thing because the risk of losing is greater than the profit.

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I won't dare gamble with 5% of my income for gambling every week, that's a lot in a month's time, I would rather invest the money into Bitcoin as this is a guaranteed investment over gambling, I am a businesswoman and I have my own fashion home, my gambling every week depends on how much I make in a week, so I don't have a fixed budget for gambling, but I always make sure that 2% of my money I make per week will go into gambling, it's not a must, if sales aren't looking good for that week I won't gamble, it's not as if I am even making a lot from gambling anyways.

It's safe to say that my gambling decision depends on how much I will make in the week

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Quote from: Westinhome on August 05, 2023, 07:41:08 AM

Quote from: Oshosondy on July 14, 2023, 06:12:59 AM

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?

It's good idea to use of gambling site,because if you not fix the amount of deposit.It's leads to the addiction to the gambling site,So fix the amount to use of the gambling site.The most important factor is you should use the free money for the gambling instead of using the huge money.You should see all the old games to get some tactics for the game.If you are going to play the dice game,you should check the old roll of that dice game in the past.Then you can get the idea of dice number which is fit for the bet your money.

Rightly said mate, if you can control yourself from gambling addiction it is easy to fix the amount of everything. It is better to start with less but a person also has to calculate the income and expenses. Playing the maximum bet does not increase the odds, considering the machine is programmed to randomly generate results. Also, if you hit the casino on a tight budget it may not last long if you're maxing out on every game. Before getting rich it is important to remember that only a small number of sports betting is profitable.

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Quote from: piebeyb on August 05, 2023, 08:11:49 AM

Quote from: bettercrypto on August 05, 2023, 06:38:22 AM

Honestly speaking, twice a month or sometimes once. I've only been gambling for a month, because I can't rely on gambling to win so that I can pay the bills every month on my bills and even my expenses in my daily life.

Also, my monthly salary is not much. It's just moderate and I can somehow survive. Maybe the only people who will do that are those who have a lot of extra money to gamble with and those who are really wealthy in life. And even if I earn 1k$ a month I won't spend 5% of it just for gambling because the amount of 20$ bet is high for me.

that's good friend, you don't make gambling your source of income, it's true that for small gamblers maybe 5% is very large even though they have a very large income in salary at work or business income, because maybe small gamblers understand more about how to control themselves than big gamblers who waste more than 50% of their income on gambling, they as small gamblers usually don't care about how to win against the casino but prioritize having fun and enjoying the game.

I'm also a small gambler, maybe 2% is more than enough, but 5% won't hurt as long as you can control it and limit each budget, also limit the amount of losses and wins so you don't follow the game too deep, because gambling too deep makes it easier for us to get stuck with addiction, because if you have become an addict it is rather difficult to cure it if it doesn't come from himself. so gambling within our means is more than enough

Do novice gamblers have a better grasp of self-limitation than seasoned pros? I guess I will! That's a novel approach to playing the odds. The big spenders and gamblers, flush with cash and living life to the fullest. And then there's you, a relatively little player who is playing it safe and slowly building your position. What, only 2%? And if you're very lucky, maybe 5% every once in a while? The home, as the old adage goes, always has the upper hand. That is, unless you're not in it to win it. You participate because you enjoy the competition, the company of your peers, and the thrill of the moment. Your warning about addiction is very valid, so props to you for that. It's insatiable like a ravenous beast that never seems satisfied. But you've got it worked out with your 2% and your limits. Is that not the case?

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Quote from: Oshosondy on August 05, 2023, 08:28:14 AM

Quote from: leonair on August 05, 2023, 08:08:45 AM

A profit limit of 5% per week is not a big target that can be met and it is possible to earn from gambling with such a small target because those who want to get rich in a short period of time are the ones who suffer greatly from gambling. Gambling with a limitation is a good strategy. Because it helps to control our-self which saves from many big losses. Greed destroys people and that's why those who want to get rich quickly from gambling they are the ones who end up in danger and at some point fall into deep addiction of gambling

You are right, but even with the low amount of money, peope should not think of gambling as a way of making money, the 5% I go for is the amount that I can lose and never thing about it. I mean I can be able to afford to lose 5% of my weekly income to gambling. To make profit is not what I can think about while gambling because if not taking gambling as fund it may lead to using high amount of money.

5% is an acceptable amount because it's not too big but we have to keep maintaining that amount so it doesn't get big. And even though we will lose after playing gambling, with that 5%, our losses will not be too much so we can still save another amount of money. We can save it until a few days later or next week to play gambling. And it's good if you don't think about making a profit from gambling because it helps you to avoid gambling addiction so you can control your gambling.

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Quote from: Oshosondy on July 14, 2023, 06:12:59 AM

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 about needs but wants, so fulfill your and your family's needs first before deciding to play gambling.

What we have to do is limit our spending on gambling, which is a maximum of 10% of your weekly income. Not that we have to set aside every week, but first meet your and your family's needs. What needs to be set aside is money for saving, not for gambling. and your savings, so don't ever be implied to do gambling and force yourself to set aside money for gambling let alone use money for your needs to be used to play gambling.

I think we are all adults when we want to do gambling and can determine when you play and when you decide not to play, especially those who already have dependents, they must be able to manage it. Don't let wants beat needs.

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Quote from: Oshosondy on August 05, 2023, 08:28:14 AM

You are right, but even with the low amount of money, peope should not think of gambling as a way of making money, the 5% I go for is the amount that I can lose and never thing about it. I mean I can be able to afford to lose 5% of my weekly income to gambling. To make profit is not what I can think about while gambling because if not taking gambling as fund it may lead to using high amount of money.

Just curious, that 5 percent that you allocate, does it come from your regular day job or just from the signature campaign pay that you receive every week here because if it comes from your day job then that hurts, budget-wise.

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Quote from: leonair on August 05, 2023, 08:08:45 AM

A profit limit of 5% per week is not a big target that can be met and it is possible to earn from gambling with such a small target because those who want to get rich in a short period of time are the ones who suffer greatly from gambling. Gambling with a limitation is a good strategy. Because it helps to control our-self which saves from many big losses. Greed destroys people and that's why those who want to get rich quickly from gambling they are the ones who end up in danger and at some point fall into deep addiction of gambling

You are right, but even with the low amount of money, peope should not think of gambling as a way of making money, the 5% I go for is the amount that I can lose and never thing about it. I mean I can be able to afford to lose 5% of my weekly income to gambling. To make profit is not what I can think about while gambling because if not taking gambling as fund it may lead to using high amount of money.

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Quote from: bettercrypto on August 05, 2023, 06:38:22 AM

Honestly speaking, twice a month or sometimes once. I've only been gambling for a month, because I can't rely on gambling to win so that I can pay the bills every month on my bills and even my expenses in my daily life.

Also, my monthly salary is not much. It's just moderate and I can somehow survive. Maybe the only people who will do that are those who have a lot of extra money to gamble with and those who are really wealthy in life. And even if I earn 1k$ a month I won't spend 5% of it just for gambling because the amount of 20$ bet is high for me.

that's good friend, you don't make gambling your source of income, it's true that for small gamblers maybe 5% is very large even though they have a very large income in salary at work or business income, because maybe small gamblers understand more about how to control themselves than big gamblers who waste more than 50% of their income on gambling, they as small gamblers usually don't care about how to win against the casino but prioritize having fun and enjoying the game.

I'm also a small gambler, maybe 2% is more than enough, but 5% won't hurt as long as you can control it and limit each budget, also limit the amount of losses and wins so you don't follow the game too deep, because gambling too deep makes it easier for us to get stuck with addiction, because if you have become an addict it is rather difficult to cure it if it doesn't come from himself. so gambling within our means is more than enough

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Quote from: Oshosondy on July 14, 2023, 06:12:59 AM

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?

A profit limit of 5% per week is not a big target that can be met and it is possible to earn from gambling with such a small target because those who want to get rich in a short period of time are the ones who suffer greatly from gambling. Gambling with a limitation is a good strategy. Because it helps to control our-self which saves from many big losses. Greed destroys people and that's why those who want to get rich quickly from gambling they are the ones who end up in danger and at some point fall into deep addiction of gambling

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Quote from: elevates on August 05, 2023, 06:04:59 AM

It is hard to keep a track of the amount when you are playing and most of the times most fail to restrict themselves and do exceed the gambling budget. Only a disciplined gambler shoes bank roll is handled by someone else can restrict themselves from going above the benchmark.

It is not hard for me to use like 5% of my weekly income to gamble. The people that this can be hard for are people that are not yet married, because people that are married have responsibility which they would want to fulfil as a good husband and father. But there are some people that are not married too thay know that the more money they put on gambling the more likely that they will lose, those kind people will not put too much money on gambling. The reason for having a budget for gambling is just because of this, to avoid addiction and spending of too much money on gambling. If you know you are gambling with more than the budget you set for it, it is a sign that gambling is becoming a problem in your life.

Topic: Appropriate percentage of income for gambling - page 8. (Read 1634 times)