Topic: Appropriate percentage of income for gambling - page 9. (Read 1810 times)

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.

We all voted for 5% but the reality is that we all exceed it very easily as the rage and the emotions of the gambling session can dictate us to further and much further some times yet the 30% of the salary is a huge amount to be playing in gambling.Let's take the average German net salary of 2500 EUR and that is 750 EUR to gamble,that 30% some people have voted here,of course they must be either pro gamblers or addicts but mostly pro as addicts can easily play all their salary in gambling in a very short amount of time and not have a sense of what they have just done.Self discipline can be learned only through bad experiences and hard ships and only these people can stay at their predetermined amount set away for gambling.

Just now saw on the poll that there are 3 users who voted for less than 30%. Must be pro gamblers or addicts as they can only use maximum  30 percent of their salary for gambling. In general most of us voted for the 5% base but in real life scenario that would exceed to 10% easily. 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.

Compulsion towards spending for gambling on weekly or monthly basis also similar to an addiction but since the user is under control of financial allocation there won't be any huge financial loss.

I am also against that kind of gambling and all I do is just random, if I feel I want to gamble then I just deposit an amount subjective to my risk appetite and try to exhaust or win big but I am not going to try that too often which means I am more balance not centric towards gambling.

It's funny to hear this when gamblers talk about weekly gambling spending. Why don't you talk about weekly winnings of 5% or 12%? You initially go to the casino ready to lose that 5% and with the knowledge that it will happen. And also, resigned to the fate that for the most part, you will lose and leave 5% (maybe more) of your budget in the casino balance.

It looks a little strange, knowing that losses are expected, to continue to act purposefully taking these losses and all for the sake of the illusory hope that the gain will cover these losses.

For weekly gambling income, any percentage that is higher than your expenses is fine. Only I'm not sure if gamblers will be able to maintain this level on a weekly basis, because it depends on RTP, and not on their skills and talents.

Casinos couldn't exist if it wasn't profitable. Every gambler hopes that he can outwit the casino and not be among their sponsors. But statistics are stubborn things.

When we use specific number of percentage, the amount can be so small but also can be so big. Lets say our weekly income is $50, 5% is just $2.5 which so small amount of money to gamble. In this case, I would prefer to not gamble at all if I have $2.5 only to gamble. On the other hand, lets say our weekly income is like someone who known to be billionaire such as Elon Musk. Can you imagine how much is 5% of his weekly income? It can be so huge amount of money to spend on gambling. Instead of using specific percentage based on our income, I believe it is better to gamble with spare money only after we spend our income for other more important things.

You are right. As long as the person knows what percentage he can gamble with, stays within his limits, and doesn't gamble excessively, he can still continue to gamble and enjoy his gambling. But often, when people lose, they can't accept their defeat and deposit more money to recover their loss. But if they can think that in gambling, winning and losing is something we have to accept; when we lose, we have to accept it well because that's gambling. So if it's 5 percent or 12 percent or even 20 percent, that's also okay as long as that person can accept all the consequences while playing gambling and doesn't mind if he loses.

As I'm reading through so many of these responses, I can't help but wonder how many of you are actually investing the right percentages of your weekly pay to necessities such as your retirement plan and healthcare, and which of you are using money that would go to those important things are going to your gambling habits. 

I don't have a % set of any sort. I bet when I want to make bets. If I had a percentage I'd be an out of control gamblers, which thankfully I've never been.

I did it for two years, so it's entirely possible to gamble in a budget and stick to it. Of course, it depends heavily on the person and not specifically the strategy that one is employing, because no matter how good the strategy is, if the person is not consistent, that strategy will always fail. Even if you allocate 1% and you often go over that budget, it's a strategy failed.

I think it would depend mainly on a person's financial circumstance. If a person does not have any financial problems to maintain his family then spending 12 percent on gambling in his favor will not have any effect. On the other hand, those with lower incomes may find it difficult to spend 12 percent. In that case 5 percent may be appropriate. But if someone spends 5 percent of money every month on gambling then it will not affect that person. But some gamblers become so addicted to gambling that in some cases they spend a large part of their income on gambling which should not be done.

I don't gamble much these days because I am always occupied with work and activities. I am started declining in the way I used to bet before which I think is a good development for me since it was not easy for me to quit or reduce the way I gamble before. I think we can use any percentage of our weekly income to gamble depending on what we want and how we see it. I see 5% to be too small for me. If I were you and I used to have consistent profits in gambling, I will increase it to like 10% so I can make more gains buy not in a greedy manner at all.

Well, it's a great thought, things should be and be carried out in a balanced way, but for some of the players they don't see it that way, in fact I think that there are very few who consider that the game is like that. a job, I don't see it and I never see it that way, because it is not something constant, nor is it the case that they dedicate themselves all day to it, so it is not good or advisable to see the Game as a way of working, because it is very Risky.

In the game, each person is always the owner of their finances, you cannot give an opinion for others, because we all have a different economic position , each person knows how to do things and how to manage their finances, but if the person is responsible They know very well that their responsibilities come first, there is nothing else to discuss, if there is a family, if there is any other type of commitment, well that comes first, that is the law.

I really like the way you say it, because it is a very defined way of showing that he is a person who is in control, who does not get carried away by the excitement of the game, who is aware of everything and who can make himself see that things are very good.

Personally, in terms of the percentages to be assigned in the game, for me it can be variable, there are times when I cannot say anything , because sometimes the Expenses that are unexpected must be answered, after all this things can and should be seen Like some , it's just to have fun and not take it so seriously, the casino and the bets were created to have fun , to raise the adrenaline, of course also for people to earn money, but not all the time, because it is obvious but the business it doesn't work, also in a casino there is always the advantage of the house is that it is something that will always stand out in every way , apart from all this, if the person is mature enough in his things he knows how to determine the ideal Percentage so that he can Enjoy the benefits of Casinos.

Some people do not give much Importance to the percentage of salary that they can Allocate to Casino games , but thinking about it , it is not a Bad idea , when we have a Percentage to play or spend, it is that we are very clear about all our financial movements, There is better control and , apart from that, the option of falling into addiction and becoming Decapitalized is much Further Away.

This will highly depend on the amount you make and your expenditures. Anyone can allocate a specific percentage as long as it doesn't compromise the other necessities and priorities for budget. If I'm earning about 2000 dollars per month, I could allocate less than 5% of it in gambling and other risky activities that I could enjoy and profit. It will not be a harmful amount to be cut on the budget if ever things are going pretty well.

But if I'm earning low and I have so many bills to pay, I'd think twice about spending consistently in gambling. Maybe if I only feel the need of gambling due to stress and I timingly have a spare.

I think I go way lesser than that for my weekly income. 

I just had a little bit of money in my account just so I could enjoy the games on the gambling site like slots and the original games. Then, some of it will go to sports with a good percentage to win it. I've seen a lot of gamblers' strategies that whenever they lose in casino games, they turn their eyes to sports and win it to make a new budget for their casino games again.
It's a good strategy if you want your funds to last the whole week or before your next funds will come. Right now, I am trying to do that and make it last longer just so I could still enjoy playing their games while increasing the wager for a VIP class.

It's a recreational activity, after all. Gambling responsibly is the golden rule, whether you allocate 5% or 12% of your income.

Just wanted to chip in about the variable percentage allocations you mentioned. Yes, it totally depends on a person's income. But it's also important to note that it should be discretionary income, i.e., money left after meeting all your financial obligations and saving for the future. Even if your discretionary income is sky-high, it's essential not to get carried away and maintain your responsible gambling practices

Regarding considering gambling as a job, I partly disagree. There are professional gamblers who've made a career out of it. But they are few and far between, with a deep understanding of the games they play, unwavering discipline, and impeccable bankroll management skills. For most of us, though, gambling should remain a fun activity and nothing more

     -    If you allocate 5% of your income weekly and if you earn 300$ weekly that means is around 15$ and 1 month is a total of 60%, I think maybe that's not bad. With such a habit every week, you can be considered a responsible gambler.

But as a matter of fact, sometimes when you feel that you are lucky, the instinct that a player will feel is that he will not notice to himself that he is going beyond his limits, so it seems that it is impossible to say if you can maintain such a strategy.

Of course, everyone has a different limit and it will be adjusted according to the ability to afford the losses, I'm sure some can even be more than 20% because he is very active and has a lot of time to spend on gambling, but I've never been more than 10% even more often below that, because often busy with other things so I don't have quiet time to be able to use it for gambling, because I'm sure every gambler will play when he's really not busy, and quiet time to do it
I think whatever percentage players allocate for gambling is expected not to exceed it because when a player exceeds what has been targeted then the allocation will continue to increase so it is likely that players will experience financial difficulties, I mean play in moderation and use the money for other things that can produce because of course when we have a bigger income it will allow us to play with bigger funds even though the percentage is the same.

Well sorta like that.However keep in mind that while gambling people have a real opportunity to hit it big by winning the jackpot or maximum payout from a slot machine and that is the main reason that keeps people coming back at gambling.Nowadays our life is extremely dynamic and rarely I know someone who says I am going to gamble just for fun while I do know a lot of people that tell me we are going to the casino (online or physical) in a pursuit to try and hit the maximum payout or winning a substantial amount and this for me is the real motivation as to why people gamble.

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.