Topic: Risking 1% in Gambling - page 13. (Read 4423 times)

Yes, that is more than enough to use for gambling so that is a limit that he must obey and will not violate even if he loses. He must be able to understand that losing from gambling is a normal thing and there is no need to regret it because we also don't use a lot of money so we won't be too sad. If he wants to increase his percentage amount, he should recalculate how much he is spending to see if there is an opportunity to increase his gambling money or stay at the previous percentage. Everything must be based on calculations of income and expenses so that there is no disruption in finances.

OP, this is exactly how strategy should be used in gambling. So that you don't have to lose all the money you earn by gambling and become destitute. But if you gamble two to three days a week, budgeting 1℅ of your income for gambling is reasonable enough. Or if you are gambling one to two days in a month then I think you should increase your % rate so that you can gamble to your satisfaction. As for me I would say, I gamble two days a month where I budget 3℅ of my income for gambling so that I can gamble to my satisfaction.

Most benefits that we can get is to have fun while some times we can also earn a profit out of it. This is why it's not advisable to use higher amounts. For those who use small amounts, there must still be a limit on their playing time so that it won't lead for them to get addicted in gambling and burn more time and money on it, since small amounts will still grow huge once it adds up.

Gambling can be played for free but for those who want the real thing and they don't have funds to continue, they can do unwanted things like stealing and selling stuffs. With those that I've said, to become an addict does not only depend on our wealth or if we have lots of money, but it's only about how we control our selves.

I won't quote Satoshi and I'll be patient enough to explain it to you, even when it is clear that you didn't take your time to understand my initial post:

1. I've never played martingale because it's been well proven before that it doesn't work. You only have to read Taleb to know the details. I'm talking about 100 independent bets, not about doubling your stake every time you lose (that's what leads to bankruptcy in martingale, exponential need of funds, not a "very long losing streak").

2. The example of the basket means risk diversification: you can apply it to trading, gambling or any other discipline that implies risk.

3. Most importantly, the probability of losing 100 times in a row is... well, I can't even count the zeros: 0.5^100, you can calculate it yourself. Notice that I'm not talking about the probability of winning the 100th bet after losing 99 times. You're right that the probability resets after each bet and it is 50% regardless of past results, and therefore you should agree that such a very long losing streak cannot "easily happen in betting": it is almost impossible to not win even one bet out of 100, and recover at least two dollars in example b).

Whenever Trying to do something so that a Player can Win is Difficult , it is Hard and can be Seen as something that can be well Managed by a Player who has Control over what he plays and how he plays it, we when We think that we Are somewhat Greedy , I think we have all Experienced it , Because we like to see that we win, we like to See that we Will do things well, therefore every time we are Starting to do things, many other Problems can be Generated , the Problems in a Casino Basically boil Down to one Thing , the lack of money and the money disappearing Quickly , and that is what we never want to happen, however things can Point to that , I am Always They are thinking that Money must pay off in a casino, we must Always make an Effort not to lose Everything we are Willing to lose , in View of this , we must Act.

When the Thread type talks about 1%, it is not something that is bad, considering that 1% is enough for us to start enjoying a game , it is when we more have Options to do things that are very Favorable to us so that we can obtain good ways of seeing things, of course we are People who always Seek to improve our game, and some will say that 1% is not Rpresentative , and if we do not risk enough then things sometimes always turn out the same way , very Flat so that we can do Something , this is a matter of a person's Decision to Know what they are going to do , how they are Going to Change things, for that reason when we are in a Situation we must think About all the Scenarios and See what It involves Risking so much in such a Short time, and those Tings are what we must see , the rest is Difficult, I could not Generate so much in a short Time.

To me, it has a different impact. You get to gamble with that amount and that's fine because when we gamble, we have the thought and advises about gambling only what we afford to risk. And from that idea, it's not that we want to throw that money but it's like more of the acceptance that whatever happens, we're going to accept it.

That's even harder. When you're going to stop at your will, that might push you to gamble more instead of less.

He can wager 1% of his bankroll on each bet, but on long run he is going to face more losses than winnings by following this static strategy. Actually, it's not possible to play for too long and make profit if you don't raise your bets after each loss. That is why Martingale strategy is used so often by gamblers, otherwise they wouldn't be able to make profit even on short run. And since it's needed to raise bet size on each loss, 1% as base bet is just too much. It doesn't give enough room to play consistently through a long loss streak without going bankrupt very shortly.

To know when to stop the gambler also has to draw his plan before start playing. Some bankroll managers like to define a 10% loss from the total gambling budget the right time to stop and call it a day, and I think it's a good number to not lose control over the funds and make it last longer along further gambling sessions for the next days.

This is called risk management, of course I’ve heard about this in trading. Therefore, I know that only a few will use it, those who truly have willpower and iron discipline. And as we know, there are very few such guys, because they go into gambling and even trading mainly to calm their nerves. And some are just having fun. Even I have some knowledge in trading and gambling and have good discipline and endurance, but I couldn’t play because I lost basic interest in it. It has become a routine that is quite difficult for me to endure. In any case, most likely, over a very long distance, such a strategy will bring us a minus, because it is unlikely that you will predict matches than the bookmaker, because professionals work there. But it's definitely worth a try if you haven't tried it yet, good luck everyone, you'll need it.

I don't like that mindset as a gambler. It does mean that you are just gambling for nothing. Since for you, it's just 1% of your gambling money, then it's ok to throw that amount when you lose without realizing in the long-run, that 1% is already big in total. Just imagine that.

To most gamblers, it's hard to follow a strict rule of just risking 1% in gambling as the temptation is always there to continue. I also don't want to follow that idea but instead, I will just responsibly stop if I think my current gambling session seems unfortunate or in bad losing streak.

The gambler who ready to make the money using the Casino games should learn their game in very deep.Because manipulation of the algorithm of the game can be made using the analysis of the complete game.The gamblers who made the 2x of the betting amount will move to the 3x value of the betting amount by the confidence of making the old 2x value in the gambling site.After achieving the 3x the gamblers try to target the 4x by the greedy.He need to understand the fact 3x in the gambling is the achievement for the gambler who had their huge skills in the gambling site.The gambler who loss 1k can be recovered in the other game.

Gambling is all about risk and benefit vs reward. One other way of looking at the risk to reward ratio in this equation is that the bookmaker calculated that they are pretty much likely to win 1 out of every hundred bets they offer at those odds. Which also means you will have to win such odds one hundred times independently, if only betting your initial amount, in order to simply double your money. That seems like a very painful process and would sap any type of fun out of gambling, besides that - there are more "freak" events than you might imagine when looking at these sort of events. I personally have witnessed about 3 bets in the 1.03 range fail to win in short succession, when they should be pretty much guaranteed winners.

What makes you so sure there can't be a hundred losses in a row? Each individual bet is independent of any other bet, so the results can be completely random.

It seems to me that your example with baskets is more suitable for investing than for betting. If you have ever played the Martingale strategy, which I have no doubt you have, you should know that there can be a very long losing streak. The same thing can easily happen in betting.

What happens about all this is always the same, we are people who always want to deal with many things, first being in a casino we want to win a lot of money, it is something that cannot be avoided, secondly we are people who always look for the best, to be with the best of arrangements so that everything can work wonderfully, secondly every time we go into a casino we do so with very high hopes of winning, but if we maintain order with our finances we can do a good job, that is, Every time we do something well, as you can example, we allocate 100usd to lose, with those 100usd to lose we have to try to multiply, only sometimes it is very difficult to do it, because you must have very good luck and With many things that are in our favor, as the indicated bet does with the indicated money, sometimes we can raise bets and lose them or sometimes we are not playing and instead of raising the bet we lower it and win, there are many things that can happen pass.

As far as I'm concerned, having a good option regarding games of chance is not bad, it's good, but you have to consider many things, first the self-control with the money, and secondly, if we know that we are going to lose an amount not to deposit more or invent more, the issue of emcoins and managing them is something very difficult, so the best thing I think is to allocate an amount of the money that we already have ready to spend, so taking those things into consideration we should feel good when in each game session do the best possible to be able to have everything under the law of things, not try to pull ourselves from superman and no matter how small the gain is, even if it is little, we must withdraw, because it is what keeps us unmotivated, If we win something, I prefer winning to losing, it doesn't matter that it's bad, but winning is winning.

Yes and we just have to choose whether we want to end up in a slump like other gambling addicts experience or want to stay safe by implementing lots of restrictions along with good self-control, all of this really depends on each person's decision and as stated I say they just have to choose and their choice will determine what impact they will feel later. Yes, on the other hand, there is no harm in continuing to remind each other because we as humans always make mistakes, but if we are willing to learn from the experience of mistakes then clearly I think change can happen.

Stopping gambling is easy, but it's only easy to say and in fact it's difficult to do, one of the things that causes it in my opinion is the hope factor that they still hold in the opportunity to win so this is what continues to encourage a gambler to continue gambling as a dedication to get the victory they want. On the other hand, winning really depends on luck and that means I think you don't need to overdo it because if you are lucky then you will also be able to win like other people and it is better, as I said before, to just focus on a few precautions. In my opinion, the most important thing is that we must have a straight understanding in gambling because with

Back on topic (guys, the OP was asking about the way to spend his pre-stablished money for gambling, not how much should he gamble), the more the baskets the lower the chance of losing all eggs, but also of making good profit. Easiest example I can think about (obviating house edge!):

a) you gamble all the money (100$) to one very simple game = You have 50% chances of losing it all, and 50% of doubling your money. You'll get 0 or 200$ in return.

b) you gamble the money to one hundred games = It is almost impossible to lose it all (100 loses in a row? it simply won't happen) but your chances of making any (small) profit will tend to be 50%. You'll get your initial 100$ in return.

So the answer to the OP's question is the following: if you want to feel the strongest sensations, a) is your gambling style; otherwise, if you want to just have fun for the longest time possible, b).

yep, all decisions are up to each us as to how avoid risks or avoid negative impacts that exist in gambling and we are here just telling each other that risking small amounts is always. right choice and as I said before know when right way to stop betting an  easy way but will be very difficult to do.
most important thing is actually about  budget we have as long we can restrain ourselves from committing to plan that has been determined and must also be able to appreciate the money we have, of course we will find it easy to bet 1%-5 of our income on gambling and can last one month we can manage our budget well.

limitations that I previously mentioned will never be taken seriously novice gamblers or gambling addicts, but these limitations have given me experience that gambling must be done carefully, making wise decision and respecting money, even small amounts.

Absolutely agree with you. Gambling three times a week is clearly too much. Such activity in a year will lead to gambling addiction, and therefore other problems - psychological, financial, etc. You need to realize that the less often a gambler plays gambling, the less likely to become a gambling addict. And this applies not only to gambling. Every person should be able to limit themselves, because uncontrolled activity or use leads to negative consequences.

Moderation and knowing limitations are key. I gamble with a little amount of my money to balance excitement with prudence. Both money and expectations must be managed.

Chase loses is a profound topic. Sometimes I've learned the hard way that the best response to a loss is to contemplate and return the next day with a new perspective. Its discipline and shows how important emotional control is in gaming.

I understand the younger generation's drive for rapid wealth, but gambling is not the answer. In this topic, we should promote gambling as a hobby, not a career. Its important to distinguish between work and recreation. Gambling is fun when seen as entertainment, not a lifeline. With this perspective, we can enjoy gambling as an enjoyable, occasional pastime.

Yes responsible gambling habits help keep gamblers connected. If a gambler becomes reckless and bets every day he can't control himself at all then instead of the 1% he will waste everything on gambling which is at a loss. That's why the budget should be rested for a few days and come back again. Gambling Responsibly Responsible gambling habits keep the game fun and help manage finances. Helps to maintain a healthy relationship with people around you and family.

It's a very small amount, but if we aim to use gambling as a way of having fun, that amount is still acceptable, especially since we really want to prevent losing a lot so we don't want to see a lot of money wasted at the gambling table. However, this amount will vary because our incomes are different, and we just need to adjust it to our family expenses so that the allocation of funds for gambling will not interfere with the family's daily needs. We should indeed have moderation and self-control in gambling so that we don't gamble excessively, especially if we only gamble for fun in our spare time. We also don't need to use a lot of money to gamble because that can trigger us to want to continue gambling and there is a possibility that we will experience even more losses.

Yes, we should try to be wise in using gambling and if we know that gambling can cause our money to run out, we should not touch gambling at all. We have to be careful in making decisions about gambling or not using gambling to get pleasure because many other activities can provide pleasure. We also don't have to gamble to get entertainment or even make money because we know that we need to find a job to make money.

That's why we have to really limit our gambling if we don't want to see more losses or lose more and more money. We've seen what happens to people who already gamble using more money so we don't need to try. We may find it difficult to win the jackpot, but it might come to us, especially if we can get lucky. So instead of using a lot of money to chase the jackpot, we should let the jackpot come to us. It won't result in losing much money because we just gamble in moderation.

And there are indeed many other things that can benefit us and even though we also use money to do other things, we can get something useful for our lives. So it would be better for us than using money to gamble, especially a lot of money, because we could experience more losses with that much money. We must be aware of this, so we must implement the necessary restrictions to gamble moderately.

By setting a limited amount of money for gambling, we have tried to reduce the risk so that it does not become even greater. And it can prevent us from the frustration that would arise if we experienced a lot of defeats. With the amount that we have prepared, we can remain in control and only play enough gambling without any desire to continue gambling again. But we still have to control ourselves because in gambling, many temptations may be more serious that will come to us, so we have to be able to restrain ourselves well from these temptations.