Often when people look at certain advice on the internet, they need to think before they start implementing said advice, for example in this case where they are giving advice that people should use 1% of their income to gamble. although the advice is good, this advice does not apply to everyone, for example in the case of people who have a very low monthly income of around 100$, if these people put this advice into practice then when they take 1% of their income Of them, they will play with just $1 per month. I don't know how the hell they're going to be able to say they're playing when they're only playing for just $1 a month. In my opinion, what each person should do is look at all the money they can get each month
After that, they calculate how much money they will need to pay all the bills, then look at the money that remains and in that money that remains after paying all the bills, they should see what all the things they would like to do for fun that month are. . With this they make a list of things they want to do for fun and allocate money of equal value to each thing on the list. for example if a person earns $300 salary per month. pays all the bills and keeps $100, makes a list of 10 things he wants to do for fun and in that list of 10 things, gambling is included. So that person puts in $10 for every thing he wants to do for fun. with this this person will have 10$ to play in the casinos
but there will also be 9 other things that he will do to have fun, this way this person will have a life, he will not just live to play and he will not run the risk of becoming addicted to gambling. I think that when people are happy, then they will hardly enter the world of addiction, that's why it's always good for people to gamble but to have other things to have fun with in the real world to prevent the stress of losing at gambling from starting. to harm them a lot in the real world and become addicted to games.
Topic: Risking 1% in Gambling - page 15. (Read 4388 times)
Yes gamble with 1% of your income will not much risk Because we spend many unnecessary in our Daily life with various activities like smoke, alcohol etc...but if we use 1% from our income in gambling then it will give us many fun in our middleclass lifestyle. always we should use such a amount in gambling how much we can afford to lose. so i think if we loss 1% from our income in gambling then it will not hard us too much Because we paying 15%+ for income tax based each country
Using 1% of our income to bet or in gambling is not just about how much other expenses will cost us or how much we are going to have to take care of other expenses but it is about taking a very good decision to reduce our risk appetite. The higher you stake the more risk you have embarked on that is just it because if you lose a high roller it definitely affects your bankroll and your confidence level will reduce also as that is psychological that the more you lose the more you have the tendency to bet more. So staying with 1% is less risky that you can now gamble as fun and not to having the anxiety of losing and winning. It is more of the risk involved than how much you have left when you decide to use just 1% to gamble.
When you put away 1% for gambling, I don't think it's bad if you are a person who is not rich and just earns as a normal employee or small business. I think it's fine. Because the 1% that will be taken from the source of income is probably only a small amount.
Now, if you are a rich person and let's assume that you earn $20,000 a month, that means you have an allocation of 1% on that amount, which is around $200, which in fact, for me, is a large amount.
I also think it's not bad and there's nothing wrong with setting aside 1% for gambling, but in my opinion this depends on income, because if the income is large, then maybe 1% is big enough to do gambling, and the same thing as what you said, setting aside 1% for gambling from the income earned even if it's as an ordinary employee or a small business, then it's not bad either, because we should be able to look at our income before gambling. Now, if you are a rich person and let's assume that you earn $20,000 a month, that means you have an allocation of 1% on that amount, which is around $200, which in fact, for me, is a large amount.
Because there are people who have limited income or income but insist on gambling with a budget that is more than they can afford, like he gambles with 50% of his income, because he believes gambling can provide benefits, but this is certainly wrong. if we do gambling, we should look at the budget that we can spend and try not to let the budget for gambling hamper our daily life, because of course we must have capital to survive in the daily life that is carried out. if you bet with the amount of $ 200 in my opinion it is more than enough, even in my opinion it is too much, for myself.
I took 10% because if I win, the results are not bad. At least you can hang out with friends.
winning at gambling is not easy, and if you are unlucky then whatever percentage you bet will not produce a profit or win, but if you set aside 10% for gambling, I think that is enough, because as you said it is even if you win it's not bad. I myself have my own limits in my gambling budget, and I think that the budget that is set must be able to last for a period of one month, how do I do it? with self-control of course, so if your quota for gambling has run out then don't gamble anymore, and if you win then cash it in to gamble again another day.
It's easy like this, if I consider 10% of my money to be $10. so that's what I played until the money ran out. If I get a win of $20, I'll consider it my luck that I have to take. So it's not like if I win and get $20 then the $10 capital runs out, I use the winning money to continue the game.
When you put away 1% for gambling, I don't think it's bad if you are a person who is not rich and just earns as a normal employee or small business. I think it's fine. Because the 1% that will be taken from the source of income is probably only a small amount.
Now, if you are a rich person and let's assume that you earn $20,000 a month, that means you have an allocation of 1% on that amount, which is around $200, which in fact, for me, is a large amount.
I also think it's not bad and there's nothing wrong with setting aside 1% for gambling, but in my opinion this depends on income, because if the income is large, then maybe 1% is big enough to do gambling, and the same thing as what you said, setting aside 1% for gambling from the income earned even if it's as an ordinary employee or a small business, then it's not bad either, because we should be able to look at our income before gambling. Now, if you are a rich person and let's assume that you earn $20,000 a month, that means you have an allocation of 1% on that amount, which is around $200, which in fact, for me, is a large amount.
Because there are people who have limited income or income but insist on gambling with a budget that is more than they can afford, like he gambles with 50% of his income, because he believes gambling can provide benefits, but this is certainly wrong. if we do gambling, we should look at the budget that we can spend and try not to let the budget for gambling hamper our daily life, because of course we must have capital to survive in the daily life that is carried out. if you bet with the amount of $ 200 in my opinion it is more than enough, even in my opinion it is too much, for myself.
I took 10% because if I win, the results are not bad. At least you can hang out with friends.
winning at gambling is not easy, and if you are unlucky then whatever percentage you bet will not produce a profit or win, but if you set aside 10% for gambling, I think that is enough, because as you said it is even if you win it's not bad. I myself have my own limits in my gambling budget, and I think that the budget that is set must be able to last for a period of one month, how do I do it? with self-control of course, so if your quota for gambling has run out then don't gamble anymore, and if you win then cash it in to gamble again another day.
I also think it's not bad and there's nothing wrong with setting aside 1% for gambling, but in my opinion this depends on income, because if the income is large, then maybe 1% is big enough to do gambling, and the same thing as what you said, setting aside 1% for gambling from the income earned even if it's as an ordinary employee or a small business, then it's not bad either, because we should be able to look at our income before gambling.
Because there are people who have limited income or income but insist on gambling with a budget that is more than they can afford, like he gambles with 50% of his income, because he believes gambling can provide benefits, but this is certainly wrong. if we do gambling, we should look at the budget that we can spend and try not to let the budget for gambling hamper our daily life, because of course we must have capital to survive in the daily life that is carried out. if you bet with the amount of $ 200 in my opinion it is more than enough, even in my opinion it is too much, for myself.
People like that usually try to double their income and they hope that gambling can get profits with large capital even though thoughts like this should not be in their minds because getting a profit in gambling is very difficult to achieve because gambling is not supposed to be for profit but rather to have fun.
I agree with you, because it seems like there are people who have thoughts like that, they gamble to double their finances, actually that's not wrong, but what you have to pay attention to is that the chance of losing in gambling is more dominant than the chance of winning, so it's completely wrong. will make a profit even with those who bet big, because the gambling company will not care about our situation, even if our goal is to double our money to cover financial problems, the gambling company will not look at that. and as you said, thoughts like that shouldn't be better just get rid of them, in order to avoid small problems that can become big.
Yes gamble with 1% of your income will not much risk Because we spend many unnecessary in our Daily life with various activities like smoke, alcohol etc...but if we use 1% from our income in gambling then it will give us many fun in our middleclass lifestyle. always we should use such a amount in gambling how much we can afford to lose. so i think if we loss 1% from our income in gambling then it will not hard us too much Because we paying 15%+ for income tax based each country
Using 1% is enough for gambling, and you will not use too much money. That's the same as using the money to buy food or coffee and we allocate it to gambling. If we use more than 1%, we will experience more losses even though we could have used the money for other things. But we shouldn't expect to get much money from that small capital, but we can already enjoy the gambling game. Moreover, we will not lose too much money with that percentage because that is the amount of money we can afford to lose in gambling.having that control and moderation on which we do know that this is something that would be needed by most gamblers because this is where we do usually fails.
The most important thing in gambling is really that having good moderation and control towards self because if you do missed out on doing so then expect that you would really be having that huge spending
and losing tons of money and compromising the amounts on which it is really that something that meant for other important or priorities.
If you are someone whose really that bad when it comes to fund management then it would really be just that wise or better that you shouldnt really be touching gambling in the first place.
You should really be that careful when it comes to decision on playing gambling which we know that this is something that cant be known whether you would be lucky or not.
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Yes gamble with 1% of your income will not much risk Because we spend many unnecessary in our Daily life with various activities like smoke, alcohol etc...but if we use 1% from our income in gambling then it will give us many fun in our middleclass lifestyle. always we should use such a amount in gambling how much we can afford to lose. so i think if we loss 1% from our income in gambling then it will not hard us too much Because we paying 15%+ for income tax based each country
Using 1% is enough for gambling, and you will not use too much money. That's the same as using the money to buy food or coffee and we allocate it to gambling. If we use more than 1%, we will experience more losses even though we could have used the money for other things. But we shouldn't expect to get much money from that small capital, but we can already enjoy the gambling game. Moreover, we will not lose too much money with that percentage because that is the amount of money we can afford to lose in gambling. legendary
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Quote
Guideline 1: Gamble no more than 1% of household income
Don’t bet more than 1% of your household income before tax per month. For example, someone with a household income of $70,000 before tax should gamble no more than $58 per month.
Don’t bet more than 1% of your household income before tax per month. For example, someone with a household income of $70,000 before tax should gamble no more than $58 per month.
Recently I decided to risk only 1 percent of my gambling portfolio into each bet. This makes my bet risk free as I know that even if I lose the bet i will lose only 1% of my gambling money.
The Lower-Risk Gambling Guidelines
if 1 percent from 70k dollar not 58 dollar but minimum without tax 700 dollar not 58 dollar
if 70k dollar income only use 58dollar very small.
but it is very good because even when losing there is no effect on his life. because only a small part of his monthly income is used for gambling.
If I earn up to $70k dollars a month, or on monthly basis, rest assured I would willing spend between $5k dollars to $10k dollars on gambling, but this might not be monthly though, because any month I did not win as expected, I possibly will have to sacrifice gambling the next month to cover for the loss, but any month I won, then thats an automatic guarantee that I will be playing again with same amount the next month.
But all this is if I am actually a serious gambler though, for without me being a serious gambler, I doubt I would even have such time to do gambling, since there possibly be alot of activities and businesses to look after.
Know how much you are willing to lose when you gamble to be smart. So, don't put more than 1% of your money on each bet. With less stress, you can make smarter decisions without fear of losing a lot of money. It is suggested that you never risk more than 1% of your gaming account. Staying responsible when you bet will be easier after reading this. Responsible gaming is supported by this rule, which tells people to play in moderation and stops them from losing a lot of money on one game. One more benefit is that you can bet for longer, which makes it more fun and gives you more control.
So is that 1% rule actually a good idea? I guess it depends. If you don't have much money to risk, then sure, play it safe with tiny bets. but if you can afford larger stakes and don't mind potentially losing more, then go for it. and I mean I'm no expert but it seems smart to think about how much cash you really wanna put on the line based on your own situation. Like if its your first time gambling, better start small so you don't end up screwed. But down the road after you get the hang of things, you can boost those bets if you want and have the money to cover it. I dunno, that's just my two cents as someone still getting the ropes. You gotta do what feels right for you.
Yes gamble with 1% of your income will not much risk Because we spend many unnecessary in our Daily life with various activities like smoke, alcohol etc...but if we use 1% from our income in gambling then it will give us many fun in our middleclass lifestyle. always we should use such a amount in gambling how much we can afford to lose. so i think if we loss 1% from our income in gambling then it will not hard us too much Because we paying 15%+ for income tax based each country
As we know that some out of control actions always start from emotions and emotions will usually arise when you are unable to accept the results at the end of the session in the sense of losing, And that's why we have to be responsible gamblers because by only putting small amounts then surely you will not feel too upset when the final result loses and with this you will avoid some out of control actions such as chasing victory, usually people who are completely unable to approach like this most of them will quickly end up with addiction. After all, of course you have also said that gambling is just for fun, so what's wrong with just putting a small amount? anyway if we are lucky we will also be able to get victory.
importance of having limits on yourself is to always use your own rules for betting small amounts.a gambler very rarely has limits like this because they are more concerned with the results they will get without caring about the risks they will get, such as losing.
whereas in gambling we will always lose and very rarely get big wins except when we are lucky, but gamblers always ignore this and their minds only focus on the win they want to get.
gamblers like this usually cover themselves up hiding behind the word gambling just to have fun while they are actually betting without having any control and always betting large amounts to want a big win and things like this must be noted that it is very important to have your own rules regarding budget limits for gambling and also limits for betting.
Yes it is true that usually the people who have difficulty applying control along with some restrictions are those who are too focused on winning or in the sense of gambling to get results, it is very clear that the opposite will happen that they suffer the number of defeats, the reason? because gambling is not a place to earn but just a means of entertainment for people who have boring free time. On the other hand, it is not uncommon for gamblers to camouflage the assumption "for fun" as you said, for me it doesn't matter because they themselves will feel the significant impact of gambling done in the wrong way and understanding, so all of this is up to you, if you really want to be one of the safe gamblers and not experience the adverse effects of gambling then the choice is that you must be able to change your point of view along with applying limits.
Even though many people could have their own opinion about risking only 1% of income in casinos, I just had some ideas or thoughts about such percentage being applied as a way to save guard one's bankroll.
I think it would be more appropriate to only gamble 1% when comes to games or activies with have mostly to do with randomness and luck, for example, Dices, Plinko or crash. Since those are games which are very likely to drain or wager by the end of the day or in a single afternoon.
In the other hand, there could be more room to be more permissive if one wants to risk a higher percentage in sportbetting: there are mor chances to actually win, specially if good luck is also in company with a good technical analysis of the players, the teams and the statistics in general.
So, for gambling, the percentage of risked money can be as low so one feels comfortable about it, though in sportbetting I would be okey to increase such percentage up to 5-10% based on the monthly income of the gambler.
Does anyone of your agree on that idea or do you believe the percentage should be the same for both gambling (casino games) and sport betting?
I think it would be more appropriate to only gamble 1% when comes to games or activies with have mostly to do with randomness and luck, for example, Dices, Plinko or crash. Since those are games which are very likely to drain or wager by the end of the day or in a single afternoon.
In the other hand, there could be more room to be more permissive if one wants to risk a higher percentage in sportbetting: there are mor chances to actually win, specially if good luck is also in company with a good technical analysis of the players, the teams and the statistics in general.
So, for gambling, the percentage of risked money can be as low so one feels comfortable about it, though in sportbetting I would be okey to increase such percentage up to 5-10% based on the monthly income of the gambler.
Does anyone of your agree on that idea or do you believe the percentage should be the same for both gambling (casino games) and sport betting?
Quote
Guideline 1: Gamble no more than 1% of household income
Don’t bet more than 1% of your household income before tax per month. For example, someone with a household income of $70,000 before tax should gamble no more than $58 per month.
Don’t bet more than 1% of your household income before tax per month. For example, someone with a household income of $70,000 before tax should gamble no more than $58 per month.
Recently I decided to risk only 1 percent of my gambling portfolio into each bet. This makes my bet risk free as I know that even if I lose the bet i will lose only 1% of my gambling money.
The Lower-Risk Gambling Guidelines
if 1 percent from 70k dollar not 58 dollar but minimum without tax 700 dollar not 58 dollar
if 70k dollar income only use 58dollar very small.
but it is very good because even when losing there is no effect on his life. because only a small part of his monthly income is used for gambling.
This is actually a good strategy to follow because you limits yourself to only gamble with 1 percent of household income you stands a better chance to gamble responsible knowing that whenever that amount is being exhausted then you won't touch any other money from your income to gamble for the week or month per say. This strategy helps you control your spending whenever your allocation for the month has been reached you won't gamble anymore and you won't lose further due to the amount sets has been reached.
Anyone who started gambling recently and follow this mothed it could be very hard for such person to become addicted gambler, since they are strictly following 1 percent budget of their income.
Can I ever do this when I am with the mindset of making money through betting? I don't think so, I will never do it. But I do a similar thing when it comes to the casino part of gambling, though it is not as low as 1% because of the small money I wager into it, but at least, it could still be 5% depending on the amount of money we are talking about. Gambling needs plans and practice, and through that, you will know the level you are at, the number of times you can lose and the amount of money that is best fitting could be well planned in relation to that.Anyone who started gambling recently and follow this mothed it could be very hard for such person to become addicted gambler, since they are strictly following 1 percent budget of their income.
In all, this approach will always be good for those who are gambling for fun, but if you are gambling to make money, you can't be patient enough to use a ridiculously low amount to wager per bet, it will amount to wasting your time, not even using 1% that is way so low. Even if you have a large amount of money in the account, it might still be a waste of time compared to the size of the money you wager at a time. Why not invest the money instead? Take for example, I have a whole $2,000 in my betting account and I decide to wager $20 per bet, this will amount to wasting my time because what can $20 do for me when I will also lose some of it while trying to win? I will rather invest my money in an asset where I can get guaranteed money from it.
But if the risk is increased, especially in the sportsbooks betting with the mind of making money from it, one can still appreciate it better as they increase the amount they wager per bet. In all, it will be good to use 1% for gambling for entertainment in gambling, but when it comes to money-making, it might be so discouraging.
There's a lot to talk about. Not everyone is going to earn that much monthly. Even country also do matter in this case. If i earn like $500 monthly in my country, then 1% is $5 (without tax) Which is still low for whole month gambling. Not all websites will allow you to bet with cents but minimum $1 need to stake. so i can place few bets only. I read some articles and i found Budget 5% from total household income, is good to go. A person can enjoy the gambling. But if your earning is huge, then 1-2% is enough cause that'll be too much money for gambling. And i believe we should set lowest budget for gambling as possible.
Risking one percent in gambling with a portfolio that is not upto $10 is rubbish because it worth work and the gambler would have to be reasonable at time to win in a way that he might be risking up to 30 to 40 percents there funds. If we follow this kind of strategy, it means that it's going to take a longer time before we could make something profitable from betting. We needed to know what we are doing so that we don't bet using strategy that is not going to work for us for a longer time and it's going to make us stay longer before we can make something meaningful. Understanding risk would help us more that following this kind of strategy.Maybe they are not aiming to win but rather just taking their chance to gain a little bit but their main intention is to have fun since they can't afford to gamble more and try to be competitive on the games they are playing.
But if they are really eager to win and try to be a competitive gambler which want to see their efforts done well maybe I guess 1% is not enough and that percent you mention is good number since provably for having that amount on hand while playing can increase their chances to win especially they can extend more minutes on their game if they having a bad day or want to try something they think effective strategy that can help them became profitable.
Also understanding the risk is important that's why they should gamble with precaution especially if they just have enough funds to spend.
Know how much you are willing to lose when you gamble to be smart. So, don't put more than 1% of your money on each bet. With less stress, you can make smarter decisions without fear of losing a lot of money. It is suggested that you never risk more than 1% of your gaming account. Staying responsible when you bet will be easier after reading this. Responsible gaming is supported by this rule, which tells people to play in moderation and stops them from losing a lot of money on one game. One more benefit is that you can bet for longer, which makes it more fun and gives you more control.
Setting aside 1% for gambling in my opinion is not too risky because you can still deviate 99% of your entire income and if you are an ordinary employee whose income is no more than $500 a month you only use $5 for gambling which means you don't really mind losing that money, because the most important thing is that when we gamble we must be prepared to lose our money because the risk of gambling is losing, and you also feel satisfied with that 1% and think consider gambling as entertainment.
People like that usually try to double their income and they hope that gambling can get profits with large capital even though thoughts like this should not be in their minds because getting a profit in gambling is very difficult to achieve because gambling is not supposed to be for profit but rather to have fun.
People like that usually try to double their income and they hope that gambling can get profits with large capital even though thoughts like this should not be in their minds because getting a profit in gambling is very difficult to achieve because gambling is not supposed to be for profit but rather to have fun.
But, this is can be not worked for a lot of gambler, if 1% for 1 month, we assume $5 per month as you mentioned, it seems difficult for most people to accept. People will think that $5 a month for gambling is just a joke, of course if we lose with that amount we will like lose for nothing. But, for those who want to win a lot, i believe they will play more than $5 per week, not per month anymore. I'm not denying the luck factor, maybe with $5 someone can win more than $500, but that doesn't happen once a month. Things like this make people spend more on gambling. Those who initially limit $5/month and change the limit to $10/week even can break the limit, if they are can't control their emotions anymore.
~snip~
Risking one percent in gambling with a portfolio that is not upto $10 is rubbish because it worth work and the gambler would have to be reasonable at time to win in a way that he might be risking up to 30 to 40 percents there funds. If we follow this kind of strategy, it means that it's going to take a longer time before we could make something profitable from betting. We needed to know what we are doing so that we don't bet using strategy that is not going to work for us for a longer time and it's going to make us stay longer before we can make something meaningful. Understanding risk would help us more that following this kind of strategy.When you can't accept defeat then there will only be efforts to recover losses, I can't stop thinking about those who claim that betting quite large amounts and stating that if they win they will be able to get decent amount too, but I not amazed at all.
They don't have sense of responsibility and wise attitude and all this is because they only care about ambition without using much consideration.
I would have much more respect for gamblers who have a sense of responsibility and can always be wise when getting any results from gambling.
As we know that some out of control actions always start from emotions and emotions will usually arise when you are unable to accept the results at the end of the session in the sense of losing, And that's why we have to be responsible gamblers because by only putting small amounts then surely you will not feel too upset when the final result loses and with this you will avoid some out of control actions such as chasing victory, usually people who are completely unable to approach like this most of them will quickly end up with addiction. After all, of course you have also said that gambling is just for fun, so what's wrong with just putting a small amount? anyway if we are lucky we will also be able to get victory.
importance of having limits on yourself is to always use your own rules for betting small amounts.a gambler very rarely has limits like this because they are more concerned with the results they will get without caring about the risks they will get, such as losing.
whereas in gambling we will always lose and very rarely get big wins except when we are lucky, but gamblers always ignore this and their minds only focus on the win they want to get.
gamblers like this usually cover themselves up hiding behind the word gambling just to have fun while they are actually betting without having any control and always betting large amounts to want a big win and things like this must be noted that it is very important to have your own rules regarding budget limits for gambling and also limits for betting.
I also think it's not bad and there's nothing wrong with setting aside 1% for gambling, but in my opinion this depends on income, because if the income is large, then maybe 1% is big enough to do gambling, and the same thing as what you said, setting aside 1% for gambling from the income earned even if it's as an ordinary employee or a small business, then it's not bad either, because we should be able to look at our income before gambling.
Because there are people who have limited income or income but insist on gambling with a budget that is more than they can afford, like he gambles with 50% of his income, because he believes gambling can provide benefits, but this is certainly wrong. if we do gambling, we should look at the budget that we can spend and try not to let the budget for gambling hamper our daily life, because of course we must have capital to survive in the daily life that is carried out. if you bet with the amount of $ 200 in my opinion it is more than enough, even in my opinion it is too much, for myself.
People like that usually try to double their income and they hope that gambling can get profits with large capital even though thoughts like this should not be in their minds because getting a profit in gambling is very difficult to achieve because gambling is not supposed to be for profit but rather to have fun.
There's a lot to talk about. Not everyone is going to earn that much monthly. Even country also do matter in this case. If i earn like $500 monthly in my country, then 1% is $5 (without tax) Which is still low for whole month gambling. Not all websites will allow you to bet with cents but minimum $1 need to stake. so i can place few bets only. I read some articles and i found Budget 5% from total household income, is good to go. A person can enjoy the gambling. But if your earning is huge, then 1-2% is enough cause that'll be too much money for gambling. And i believe we should set lowest budget for gambling as possible.
Risking one percent in gambling with a portfolio that is not upto $10 is rubbish because it worth work and the gambler would have to be reasonable at time to win in a way that he might be risking up to 30 to 40 percents there funds. If we follow this kind of strategy, it means that it's going to take a longer time before we could make something profitable from betting. We needed to know what we are doing so that we don't bet using strategy that is not going to work for us for a longer time and it's going to make us stay longer before we can make something meaningful. Understanding risk would help us more that following this kind of strategy. Jump to: