Money part is basically slower than you could replenish it, if you can do that then you could have a higher wagering number for sure. So, let’s assume you can put 100 bucks in a casino per month without hurting your finances, then it means if you lose less than 100 bucks a month, that will be a profitable business for you and you could increase it, but if you are losing more than 100 bucks then you are not doing the right thing.
This is of course just an example, it could be 10 bucks or 10k dollars it doesn't matter, it all depends on your budget. I personally do this, and I have high wagering in many different places, because I never lose more than I can't reload.
I think your calculation is somehow wrong. When we talk about profitable business, the output of our effort must be greater than our input capital or expenses. Setting your case as an example, spending $100 and losing some of it isn't a profitable business. It should be losing 0 and gaining some dollars back. Now that is profitable business.
There are some smart ways to gamble, one of them is by gambling once there is a good promotion/contest like what you can see in duelbits where there are regular contest.This way, you can get other possibilities aside from your gambling session.
Yes I agree, if we are a regular player, we should take advantage of any promotional campaign of the casino. This way we double our chance of winning, one is from the casino through playing and the other one is
If you lose something while gambling but you win one of the reward of the contest, it can be considered as lossback. If you win while gambling and you also win one of the rewards, means you get additional money. If you lose while gambling but you do not win anything from the contest, it is a bad luck of course. However, it is better than just by gambling where there is no contest/promotion at all.
If you see it that way, maybe we can consider it as a loss back reward. Aside from that, for a small gambler, sometimes the prize for such contest is way bigger than the bankroll. It is like hitting a scatter with 1000x+ multiplier.