For those who are gambling occasionally, this i not important to them because they gamble once in a while, making it easy for them to limit their losses. However, a gambler that gambles weekly or daily needs to set a gamble budget to prevent him from excess loss when gambling.
Although, I have a gamble budget for my weekly gambling but sometime due to tight schedule at work, I might not have time to gamble throughout the week except during weekends. If I am unable to use all my budget that week, I carry it over to the next week without refilling it and if it happens that I exhaust my budget, I don't gamble anymore till it is refill. I think this are simple practice that will keep one save from careless gambling that might become a problem to us in the latter.
Topic: How to be discipline in managing your bankroll? - page 2. (Read 208 times)
Since I'm a sports bettor, I'll use sports betting as a reference. I’ve read many books about sports betting, learning how to spot trap games, and find value bets, but the most important aspect for me is bankroll management. You’ve probably heard the saying in gambling, "bet what you can afford to lose," which is all about managing your bankroll.
To set up a proper bankroll, it’s suggested to use only 1% to 5% of your monthly income. That means your bankroll is set for one month and should not be refilled until the next month comes around. The idea is to see some wins so you don’t have to top up again.
To set up a proper bankroll, it’s suggested to use only 1% to 5% of your monthly income. That means your bankroll is set for one month and should not be refilled until the next month comes around. The idea is to see some wins so you don’t have to top up again.
Well, on this, we all have our different approach on how we engage the use of our bankroll for gambling, but i will also bring to our notice that not all gamblers only have a single source of income, some have a multiple source and they can afford to use more than 1-5% of their monthly income, that is why is it not good enough for us to make comparison of ourselves in gambling, every gambler should treat his gambling style according to his affordability.
It may not be 1% or 10% of the salary, but as long as you can afford the amount to lose. So it doesn't matter how much is your salary. As long as you are spending the amount that you can very well afford to lose. Whether in sportsbetting or casino classics, the gambler should see to it that the money being used is the money that he can get rid of without any significant impact in his financial aspect of life.
Yep, that 1%-10% is just a basic rule in order to make it easier to understand, after all it's back to our own preference.Just like 40(needs) /30(debt) /20(savings) /10(wants) spending rule, many people say it's really help them, but for me it's not a good rule. My spending rule is 40% needs, 59% savings and 1% wants, there are no debt because I don't take loan.
As long as it's not affect other people life, it's fine.
It's easier for me to be disciplined in my bankroll when it comes to sports betting because I only pick games that I have very high knowledge of and I don't do blind bets anymore unlike how I did it before. Ever since I computed all the money that I wasted by making parlays from sports that I have no knowledge about, that's when I stopped.
This is why I get to bet rarely when no NBA is happening and UFC and Boxing are events that mostly happen weekly and sometimes none in a week. Therefore, my balance is intact as long as I don't find the game that I want to bet on badly.
In casino games it's different, it's difficult to be disciplined there especially when you are on a losing streak. The problem is, those games are 24/7 available and you can deposit anytime you want and instantly play the game. This is where it goes wrong for most gamblers.
The same as you, I only gamble a part of my salary that I can afford to lose and I try to stick with it.
This is why I get to bet rarely when no NBA is happening and UFC and Boxing are events that mostly happen weekly and sometimes none in a week. Therefore, my balance is intact as long as I don't find the game that I want to bet on badly.
In casino games it's different, it's difficult to be disciplined there especially when you are on a losing streak. The problem is, those games are 24/7 available and you can deposit anytime you want and instantly play the game. This is where it goes wrong for most gamblers.
The same as you, I only gamble a part of my salary that I can afford to lose and I try to stick with it.
It may not be 1% or 10% of the salary, but as long as you can afford the amount to lose. So it doesn't matter how much is your salary. As long as you are spending the amount that you can very well afford to lose. Whether in sportsbetting or casino classics, the gambler should see to it that the money being used is the money that he can get rid of without any significant impact in his financial aspect of life.
maybe the salary matters a little bit and your discipline with investing and doing other things besides gambling too
regarding managing bankroll having a clear set of rules and ALWAYS following them is probably the most important thing
sometimes you may be tempted to break your rules and even if this works it's a bad idea
reflect on your rules and change them if you need to but don't develop bad habits breaking them
When doing gambling then it will really be that crucial that you should really be that having that control and moderation when it comes to capital. Only spend on the amount on which you can afford to lose,
also when it comes to gambling then this is something that talks about entertainment or leisure on which you will really be just that making use of the amount that it is really that extra. Main mistakes of people
who do get involved with gambling is really that trying out to make profits as much as they could and ending up on having no good handling about into their finances and thats the main reason on why
they do really end up on messing their lives because of wrong decisions or actions.
To set up a proper bankroll, it’s suggested to use only 1% to 5% of your monthly income. That means your bankroll is set for one month and should not be refilled until the next month comes around. The idea is to see some wins so you don’t have to top up again.
I think I made similar post before here in the forum and in this section were someone argued about that it's not wise assigning a particular amount to gamble. Well, I felt very bad not because he disagree to what I am saying but I just felt bad because s/he didn't know what was doing because as I know gambling without assigning a specific amount to gamble can either made you a gambling addicts, and someone who can't give a concrete list of how much he has been using to gamble, but if allocation of funds is implemented it would help reduced the amount and how often a gambler should gamble after the initial deposited amount has been exhausted s/he will have to wait till the next month to allocate that same amount to continue gambling with this gambling addiction can be narrowed or gradually eliminate. 
Maybe for some people managing their bankroll is easier if they allocate their income each month not in the form of a percentage, but just a certain amount of money, because not everyone has a fixed income each month or has income that can be allocated regularly - maybe they can gamble 100 usd this month, or 150 usd next month. So the point is to stick to the amount that someone is ready to gamble, which is money that has been allocated previously after calculating other more important priorities, then they can stick to that and not go beyond that.
Not everyone understands bankroll management because when they first started to gamble it was based on peer influence.
Most of us start at this stage. To add to it, many gamblers do not even read gambling books, or watch gambling related videos or podcasts they therefore may not have even come across the word talkless of how to implement it. I like your example, it is easy to understand and I hope those who don't understand the concept and how to apply it makes use of this example.
If you’re a regular sports gambler, you’ll eventually get to the point where you’re curious about how others become winners in sports betting. As they say, most of us are bound to lose in the long run, and that’s largely due to a lack of discipline, especially in bankroll management.Just imagine maintaining a high winning percentage, but then emotions take over, and you go all-in on a bet only to lose it all. That’s the trap in gambling--the greed to quickly recoup losses, which often leads to bigger losses. Discipline is key to avoiding that downfall.
To set up a proper bankroll, it’s suggested to use only 1% to 5% of your monthly income. That means your bankroll is set for one month and should not be refilled until the next month comes around. The idea is to see some wins so you don’t have to top up again.
For example, if your monthly income is $2,000, your betting budget should be $200. And to make that bankroll last, proper budgeting is crucial, which is where bankroll management plays its role. In my case, I stake only 3% to 5% per bet. So, with a $200 bankroll, my maximum stake per game would be $10. Sticking to that strategy greatly increases the chance of enjoying gambling over the long term.
How about you? Are you using a similar method, or do you approach it differently?
For example, if your monthly income is $2,000, your betting budget should be $200. And to make that bankroll last, proper budgeting is crucial, which is where bankroll management plays its role. In my case, I stake only 3% to 5% per bet. So, with a $200 bankroll, my maximum stake per game would be $10. Sticking to that strategy greatly increases the chance of enjoying gambling over the long term.
How about you? Are you using a similar method, or do you approach it differently?
$200 is 10% of 2K not just 5% so in case if you are mistaken.
That's pretty good approach of how to manage your bankroll and having self control is the key to not to lose more than we are supposed to do but I would also say t's better can be flexible and no need to make it as a habit that should have been followed all the time. It's okay if you send 10% instead of 5% but you need to compensate for the next month or even two just to show you can control the urge of doing it.
For example, if your monthly income is $2,000, your betting budget should be $200. And to make that bankroll last, proper budgeting is crucial, which is where bankroll management plays its role. In my case, I stake only 3% to 5% per bet. So, with a $200 bankroll, my maximum stake per game would be $10. Sticking to that strategy greatly increases the chance of enjoying gambling over the long term.
How about you? Are you using a similar method, or do you approach it differently?
Yesterday I commented on a topic where the user was talking about revenge gambling. I made mention of responsible gambling as one of the ways to minimize losses which is inevitable. And today I am here reading one of the perfect topics that is an example of responsible gambling. Not everyone understands bankroll management because when they first started to gamble it was based on peer influence. To add to it, many gamblers do not even read gambling books, or watch gambling related videos or podcasts they therefore may not have even come across the word talkless of how to implement it. I like your example, it is easy to understand and I hope those who don't understand the concept and how to apply it makes use of this example. How about you? Are you using a similar method, or do you approach it differently?
Since I'm a sports bettor, I'll use sports betting as a reference. I’ve read many books about sports betting, learning how to spot trap games, and find value bets, but the most important aspect for me is bankroll management. You’ve probably heard the saying in gambling, "bet what you can afford to lose," which is all about managing your bankroll.
To set up a proper bankroll, it’s suggested to use only 1% to 5% of your monthly income. That means your bankroll is set for one month and should not be refilled until the next month comes around. The idea is to see some wins so you don’t have to top up again.
For example, if your monthly income is $2,000, your betting budget should be $200. And to make that bankroll last, proper budgeting is crucial, which is where bankroll management plays its role. In my case, I stake only 3% to 5% per bet. So, with a $200 bankroll, my maximum stake per game would be $10. Sticking to that strategy greatly increases the chance of enjoying gambling over the long term.
How about you? Are you using a similar method, or do you approach it differently?
What a complete strategy you present, it's pretty good for gamblers who have an income of $2k, I agree with you about the division of finances in your betting plan, if it's $200 then form 10% of your total income.To set up a proper bankroll, it’s suggested to use only 1% to 5% of your monthly income. That means your bankroll is set for one month and should not be refilled until the next month comes around. The idea is to see some wins so you don’t have to top up again.
For example, if your monthly income is $2,000, your betting budget should be $200. And to make that bankroll last, proper budgeting is crucial, which is where bankroll management plays its role. In my case, I stake only 3% to 5% per bet. So, with a $200 bankroll, my maximum stake per game would be $10. Sticking to that strategy greatly increases the chance of enjoying gambling over the long term.
How about you? Are you using a similar method, or do you approach it differently?
Only for the division of $200 we can manage it again depending on how many gambling sessions we will use in a month's betting period, then just divide by the amount of your gambling budget, for example you want to bet 1 time a week, then if 1 month is 4 weeks then you will bet 4 times, and the $200 will be divided by 4 gambling sessions which is $50.
Seeing how much is left at the end of the month, winning or losing, it's back to yourself whether to add it or not, even if you get a win then you only need to choose to withdraw or continue, the most important thing in this case is that the gambling budget should not be more than the amount we have determined to lose in gambling.
It's easier for me to be disciplined in my bankroll when it comes to sports betting because I only pick games that I have very high knowledge of and I don't do blind bets anymore unlike how I did it before. Ever since I computed all the money that I wasted by making parlays from sports that I have no knowledge about, that's when I stopped.
This is why I get to bet rarely when no NBA is happening and UFC and Boxing are events that mostly happen weekly and sometimes none in a week. Therefore, my balance is intact as long as I don't find the game that I want to bet on badly.
In casino games it's different, it's difficult to be disciplined there especially when you are on a losing streak. The problem is, those games are 24/7 available and you can deposit anytime you want and instantly play the game. This is where it goes wrong for most gamblers.
The same as you, I only gamble a part of my salary that I can afford to lose and I try to stick with it.
This is why I get to bet rarely when no NBA is happening and UFC and Boxing are events that mostly happen weekly and sometimes none in a week. Therefore, my balance is intact as long as I don't find the game that I want to bet on badly.
In casino games it's different, it's difficult to be disciplined there especially when you are on a losing streak. The problem is, those games are 24/7 available and you can deposit anytime you want and instantly play the game. This is where it goes wrong for most gamblers.
The same as you, I only gamble a part of my salary that I can afford to lose and I try to stick with it.
It may not be 1% or 10% of the salary, but as long as you can afford the amount to lose. So it doesn't matter how much is your salary. As long as you are spending the amount that you can very well afford to lose. Whether in sportsbetting or casino classics, the gambler should see to it that the money being used is the money that he can get rid of without any significant impact in his financial aspect of life.
maybe the salary matters a little bit and your discipline with investing and doing other things besides gambling too
regarding managing bankroll having a clear set of rules and ALWAYS following them is probably the most important thing
sometimes you may be tempted to break your rules and even if this works it's a bad idea
reflect on your rules and change them if you need to but don't develop bad habits breaking them
It's easier for me to be disciplined in my bankroll when it comes to sports betting because I only pick games that I have very high knowledge of and I don't do blind bets anymore unlike how I did it before. Ever since I computed all the money that I wasted by making parlays from sports that I have no knowledge about, that's when I stopped.
This is why I get to bet rarely when no NBA is happening and UFC and Boxing are events that mostly happen weekly and sometimes none in a week. Therefore, my balance is intact as long as I don't find the game that I want to bet on badly.
In casino games it's different, it's difficult to be disciplined there especially when you are on a losing streak. The problem is, those games are 24/7 available and you can deposit anytime you want and instantly play the game. This is where it goes wrong for most gamblers.
The same as you, I only gamble a part of my salary that I can afford to lose and I try to stick with it.
This is why I get to bet rarely when no NBA is happening and UFC and Boxing are events that mostly happen weekly and sometimes none in a week. Therefore, my balance is intact as long as I don't find the game that I want to bet on badly.
In casino games it's different, it's difficult to be disciplined there especially when you are on a losing streak. The problem is, those games are 24/7 available and you can deposit anytime you want and instantly play the game. This is where it goes wrong for most gamblers.
The same as you, I only gamble a part of my salary that I can afford to lose and I try to stick with it.
It may not be 1% or 10% of the salary, but as long as you can afford the amount to lose. So it doesn't matter how much is your salary. As long as you are spending the amount that you can very well afford to lose. Whether in sportsbetting or casino classics, the gambler should see to it that the money being used is the money that he can get rid of without any significant impact in his financial aspect of life.
It's easier for me to be disciplined in my bankroll when it comes to sports betting because I only pick games that I have very high knowledge of and I don't do blind bets anymore unlike how I did it before. Ever since I computed all the money that I wasted by making parlays from sports that I have no knowledge about, that's when I stopped.
This is why I get to bet rarely when no NBA is happening and UFC and Boxing are events that mostly happen weekly and sometimes none in a week. Therefore, my balance is intact as long as I don't find the game that I want to bet on badly.
In casino games it's different, it's difficult to be disciplined there especially when you are on a losing streak. The problem is, those games are 24/7 available and you can deposit anytime you want and instantly play the game. This is where it goes wrong for most gamblers.
The same as you, I only gamble a part of my salary that I can afford to lose and I try to stick with it.
This is why I get to bet rarely when no NBA is happening and UFC and Boxing are events that mostly happen weekly and sometimes none in a week. Therefore, my balance is intact as long as I don't find the game that I want to bet on badly.
In casino games it's different, it's difficult to be disciplined there especially when you are on a losing streak. The problem is, those games are 24/7 available and you can deposit anytime you want and instantly play the game. This is where it goes wrong for most gamblers.
The same as you, I only gamble a part of my salary that I can afford to lose and I try to stick with it.
How about you? Are you using a similar method, or do you approach it differently?
I will differentiate based on the type of bet and its odds. If I bet Parlay, I will usually place a smaller bet. But for single bets, I will place a larger bet. I rarely place bets with a certain nominal for each bet. There is no special management that I do. It's just that the allocation management that I provide for betting every week must exist. I will not place any bets if my balance runs out before my time to fill it. You do better planning by limiting each of your bets. Just do it consistently and don't go over the limit that you have set yourself.
legendary
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If I am earning $2000 monthly, I can not use more than 1% of it to gamble. That is $20 weekly. I can use $5 weekly for gambling. But there are times that I may not gamble for a long time and use higher amount but in a way that it will still not be more than 1% weekly to gamble. Using very small amount to gamble is very important for gambling not to have negative effect on your financial life.
You are very correct and i completely agree with you, this is possibly one of the biggest secret many people don't actually understand.If one is really gambling as a means of just having fun and getting experiences, and not particularly for making profit so to say, then gambling with a very tiny insignificant percent of one's monthly income is very important, and this is because, the very moment one begins to spend as much as $100, $200 on gambling monthly, he or she will begin to develop strong interest in making sure he or she wins, as a means of recovering this money or part of it atleast, this amounts are huge and we cannot deny it, it won't be easy to just forget about it if one looses all of it to gambling no matter how wealthy the person is.
But loosing like $5 to $20 monthly to gambling can be easily forgotten since it can come off as nothing to someone earning $2000 and above monthly.
Sticking to that strategy greatly increases the chance of enjoying gambling over the long term.
Lol, the whole essence of gambling is to take big risks in the hope of a big hit. Your bankroll management strategy will lead towards boredom, and sooner or later you will eventually take big risks to cover losses. If you have that much discipline, you would not have leaned towards gambling.Gambling is fun based on dopamine and adrenaline rushes, and if you are not taking enough risks to feel uncomfortable, you will always be unsatisfied as a gambler. Now keep in mind that when I am talking about gambling, I mean betting on matches just for fun and money without doing enough research. If you are placing bets after researching, it cannot be termed as gambling; it is just another work, and if you enjoy the process, you will be much better off like any other profession or occupation.
For example, if your monthly income is $2,000, your betting budget should be $200. And to make that bankroll last, proper budgeting is crucial, which is where bankroll management plays its role. In my case, I stake only 3% to 5% per bet. So, with a $200 bankroll, my maximum stake per game would be $10. Sticking to that strategy greatly increases the chance of enjoying gambling over the long term.
How about you? Are you using a similar method, or do you approach it differently?
Although the hypothetical example is on the high side with 20% of $2,000 being $200. For a reasonable gambler, 10 % max should be the range on monthly expenses on gambling. But ultimately, I think the challenge for how much stake to bet on is greed which is basically caused by lack of emotional control. So whether 5 or 10% , a gambler who doesn't have that strong emotional balance would keep playing until the deposit could be exhausted.
That is why I believe experience is the best teacher in life of a gambler. A newbie gambler does not understand all the percentage calculation and advise until he has gone through bankrupt experience often times then he could start reading and moving towards bankroll management.
To manage bankroll is easy only if you are determined not to refill after exhausting initial amount for the month. No determination is the reason for bankroll mismanagement.
hero member
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Yea, I agree with you. This strategy can help one manage their bankroll very well and can further promote the responsible gambling habits in bettor. Gambling is not a source of income and because it is not, a gambler needs to budget a small amount to spend on gambling, which will reduce the temptation of wanted to spend all their salaries on gambling.
How about you? Are you using a similar method, or do you approach it differently?
I have never gambled above my limit or against my wish and I tried as much as possible to maintain and sustain a safety gambling practice because I know the implications involved gambling uncontrollably because when it gets to addictive phase it would be very hard to control. Most people do not allocates specific funds to their gambling and for that they can lose huge money without accounting how they loses those money to the gambling site. I do not even gamble all the weeks most times when I am touched or feels like I have some cool games to bet on then I have to slate out money for that week to gamble immediately it's settled I will wait for another good moments to gamble. 
If I am earning $2000 monthly, I can not use more than 1% of it to gamble. That is $20 weekly. I can use $5 weekly for gambling. But there are times that I may not gamble for a long time and use higher amount but in a way that it will still not be more than 1% weekly to gamble. Using very small amount to gamble is very important for gambling not to have negative effect on your financial life.
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